tv Varney Company FOX Business October 16, 2018 9:00am-12:00pm EDT
9:00 am
whether they are doing it. >> godspeed to paul allen one of the great tech by owners of in american history, and if you are in school with a couple guys look like this being a washed might make fun of them don't you will regret it. >> great to see you all thank you so much have a great day "varney & company" begins stewart take it away. >> good morning, maria. good morning, everyone getting to the secretary of state pompeo arrived in saudi arabia then went straight into meeting with king salman. scheduled to meet the crown prince right about now. he is a man with the power and the man allegedly at the center of the apparent murder. all at stake here, the price of oil, $110 billion arms deal and most important, the containment of iran. let's get to your money. big deal here. stocks are going up sharply. early profit reports looking
9:01 am
strong. including today's numbers strong johnson and johnson and unitedhealth more details on that coming up. triple digit gain for the dow, about and a half hour from now, up over 200 points.now this. we were not expecting it. amazon jeff bezos calls out the google and microsoft of the world. he says, if big tex turns his back on the defense department, america is in big trouble. amazon he says, will work with the pentagon. good. stay there please, wait and see her the latest on senator warren. the dna test and identity politics. "varney & co." is about to begin.♪ ♪ [music] stuart: we do not often start with a programming note but today we will! "varney & co." will be live from the white house tomorrow. starting at 9:00 a.m. .
9:02 am
how about this ladies and gentlemen? three immigrants -- [laughter] created the most watched business news program in america. we are heading to the white house. take a bow! i want to thank everyone that made it possible. [laughter] and liz is included in the speed that is great we will see you all tomorrow at 9 o'clock. and we will see for the next three hours. here we go. senator elizabeth warren releasing her dna test results to prove that she has native american heritage. president trump tweeted about it, look at this. pocahontas, the bad version. sometimes referred to as elizabeth warren, is getting slammed.she took a bogus dna test and it showed that she may be 1/1024 native american.
9:03 am
the cherokee deny her. phony. james freeman is with us this monday, the wall street journal kind of guy. let's talk you say that elizabeth warren is essentially killed identity politics. >> i would say she gets away with this, is the democratic if they embrace her she is a reelection in massachusetts and is likely to see presidential nomination in 2020. she can get away with saying i am a minority, i am a native american, it means almost the entire country, maybe the entire country can claim minority status and at that point, what is left of identity politics? >> white people on average have more native american blood than senator elizabeth warren, according to the spirit. >> it is in the range. and we should say, the president called a bogus but we do need to emphasize this is an
9:04 am
analysis, not a test. so the test is done and then what happened is, she got a stanford professor to guess what her native american heritage might be. his guest falls in the range that includes, the average white person in the united states. in terms of their amount of native american heritage. it is a range from about less than 1/10 of a percent less than two percent. this is why you are seeing and the cherokee nation, they've never had a record of her family. now they're saying no, this estimate from the stanford professor does not count. he said he was in the cherokee nation. silicon valley does not decide. stuart: it has backfired badly. >> yes. stuart: the timing suggests that she does not care, just get out of the way now so you have two years to run for the presidency.>> you do wonder about the timing. was it something that she felt she had to answer before her reelection? next month? i kind of doubt it but if itis about 2020 , 11 democrats are
9:05 am
asking, why now? why are you bringing up this horrible issue? and presenting it as an invitation when the results don't really support or evidence over the years to claim the status. stuart: three weeks to the day to the midterm elections. metal midterm elections. >> yes.stuart: we are discussing native american heritage and dna tests. extraordinary stuff! >> and you bundled up with the clintons getting back on stage. i'm sure a lot of democrats are not entirely thrilled with that either. there's a lot of chatter in democratic circles.where is themessage discipline ? we will see if it has an impact next month. stuart: more from you in a second. and another story. amazon chief jeff bezos, says big tech should help the military. i have a quote - for you from his interview with a magazine. here we go. if big tech companies are going to turn their backs on the u.s. government, department of defense, this country is going to be in big trouble.
9:06 am
john is now in the market watcher john layfield. i think that was a poke in the eye to google and microsoft as workers refuse to work with the pentagon. >> i agree. i own amazon stock. a level jeff bezos has done recently. he's had a couple of home runs with the minimum wage and now this statement. what'swrong with having the country? i have been to afghanistan and iraq and supported troops, there's nothing wrong with supporting the military . while google and these other groups have done, i think is a political faux pas i think it is bad for the country. stuart: maybe he is angling for that big contract that the pentagon is going to award. why wouldn't you want to? >> he says it's a gem and a great country and it needs to be defended. well said! stuart: right. i wonder if mr. trump will weigh in on that. we shall see. all right, john, stay there as well. more from you in a second.
9:07 am
some numbers on money. the treasury took in a record amount of money from an individual taxes in the last 12 months. $1.863 trillion. at the same time, our deficit went up to $779 billion. james, that is not supposed to happen. a four percent growth with a rising deficit and record tax income. >> yes. some things have changed since the financial crisis. the united states is growing faster now but this during the last 10 years if you look at the picture of our finances, you would say this looks like a country at war. these massive deficits and they continue now. what is driving it now is interest expense on the debt. >> is that right? >> along with higher defense and higher entitlement programs. so i think maybe not tomorrow, maybe not next week but soon there will be a reckoning where
9:08 am
politicians in washington will have to look again.you remember nobody likes the sequester where they cut defense and they cut social programs. but i think we are going to see increasing pressure to get there as these interest rates go back to normal levels. that is good, the economy doing really well. but it means uncle sam is paying more to borrow. and that pressure will get more intense next year. stuart: the third round of american politics. isn't it? we really have to do is reform social security, medicare, medicaid.you have to reform them to save them. but trying to do that is an absolute nightmare. >> right and we should point out it is not as big yet, the fastest growing atomic program last year is obamacare. he saw how difficult it was trying to fix that but that problem has not gone away. stuart: okay, john. what effect on the markets? four percent growth and a rising deficit. not supposed to be like that. >> is not having effect on the market not for a number of years as james pointed out. the problem right now is not
9:09 am
the rising interest rate it is buffoons in congress. they cannot balance a checkbook. coming to the treasury going up 50 percent on president obama, we are still running on $1 trillion deficit is nothing to do with revenue coming in. therefore tax cuts in the last hundred years. every time revenue has gone up to the treasury and the gdp has accelerated. problem this time now, if they want to get reelected they will not balance the budget. i don't care how much money comes into it. stuart: no impact on the market? >> james is right this is going to be eventually a day reckoning but it will take a lot longer. it could be 20 or 25 years. stuart: i don't think america becomes greece. croissants think they do but stuart, how can they not? i don't think we will become greece.we can print our way out of this and default on that. there will be a day reckoning. under president bush we had double, and double under president obama. president is doing wonderful things with a four percent growth. but we are not balancing anything.sooner or later it
9:10 am
will come home to roost. >> he misspoke. president trump is doing great things.>> i apologize! three immigrants at the white house. that's what's great about america! >> don't take another week off, you took off last week and everything tanked. stuart: whatever you say! look at this. where are we on the market? precisely 20 minutes time. we're going to go up. 230 points, look at the nasdaq peered up 76 at this count. it implies tech is doing very well today. here they come. 1500 honduran migrants marching towards america. the us-mexico border, they arrive around election day. what are we going to do? no clue frankly. a threatening letter along with white powder sent to senator susan collins in maine. the violent attacks on republicans. i have to say they are getting out of hand! microsoft cofounder, paul allen has died of cancer. he suffered publications from
9:14 am
stuart: at the top of the show we were suggesting president trump might have something to say about the migrant caravan. he just tweeted this about the migrant caravan. he would go. united states has strongly informed the president of honduras that if a large caravan of people heading to the ups is not stopped and brought back to honduras, no more money or aid will be given to honduras effective immediately. laying down the law. oh and we are going up at the opening bell. 200 points for the dow. over 80 for the nasdaq. walmart has cut its profit forecast. it cites the impact of the company but the indian e-commerce company, it will hurt their privates down the road. apple, reportedly has brought a music analytics start up.
9:15 am
tell me about it. >> is a website, basically there buying data from this company. what they want to do is to build these predictive, very individual music playlists for you and this is a company that has data and software that will enable them to do that. spotify has their own stuff with the daily mix. it kind of bars we listen to and puts together music lists for you. you know, 100 million last hundred million for this, very serious it is pocket change them if they want to get ahead of spotify on this, it is another way. it is all about data. >> it is easy to predict what i want to listen to. "f". >> this is interesting. a new number on how much uber is actually worth. the number please. >> $120 billion. nearly twice what it was valued at in september one month ago. $120 billion. it is more i was aspirational because this is the proposal from goldman sachs, morgan
9:16 am
stanley. they are the underwriters for the expected ipo in 2019. this is usually the process when a company goes to list the underwriters and investment bankers submit proposals to potential backers and buyers but $120 billion to give a sense of how big it is, it's worth more than gm, ford, fiat chrysler combined. stuart: good lord! thank you, susan. a lot going on with saudi arabia. secretary state, mike pompeo is there. met with king salman. cnn reports the saudis are preparing to admit they kill the colonist, jamal khashoggi in an interrogation gone wrong. the heritage foundation, foreign policy guy is with us now. james, we've got to get the response to the spirit america has got to get a response right because we do not want to jeopardize the containment of iran. am i right? >> i will say some words on the
9:17 am
show that you've never heard before. president trump is the calm, responsible guy here. from the beginning he said, we've got to get the facts right. and he is exactly right. look, we're going to have a strategic relationship with saudi arabia one year from now. we will have a strategic relationship with turkey one year from now. that will not change. because the world has not changed. but we have to go forward operating on what actually happened because these relationships are two important to just fly off the handle and we have to deal with the reality of what happened. we have to wait for the facts to come in. even though we heard this report even though the government is starting to become sunset they think that we have to be very careful and the president is right. and you are right, what the greatest destabilizing force in the region that is getting people killed and spreading misery by the hundreds of thousands is iran. and that is the big ticket we have to deal with. >> you think we will try to
9:18 am
spin this out, demanding the facts, diminish know what happened? and so the days spread to a week or so. with delays, and response from us? if i say, can we get away with that it sounds -- do you think that is what will happen? >> i think we have to get the facts right. and then we have to go through the legal process to do that. this is, we might have an issue here. you might want to extract something we have joint investigations. between the saudis and the turks. we have the u.s., we should have learned something from the kavanaugh hearing which is, you should not declare guilt and innocence and then just pontificate politics. we should let the facts decide what the u.s. response is. and it may take time for the real concrete facts to come out. stuart: got it, james, thank you for joining us, sir. we will see you soon. back to your money is a big day for your money.this is
9:19 am
9:23 am
stuart: drug prices, left into a pit listen to hhs secretary on fox news special report last night. roll tape. >> what the president is proposing that drug companies would have to put the list price of their drugs in their t.v. ads. that way people know how much a drug costs when they go to the doctor. where there is a $50 drug or a $5000 drug. they can factor into the discussion they will have with their doctors. >> precisely! it is called transparency. he adds -- you know the cost. >> is a free speech thing they can say don't have the right to tell us what to put in our ads. they can also frighten people and they will not get the care they need.it is a complex issue that you may see a price but it's not the price that you
9:24 am
make pay. when it goes to the insurance company it is what it means out of your pocket.you know i'm giving you the balance. on the other side, the administration from the very beginning, donald trump platform was transparency, transparency, transparency. and now they just said transparency when it comes to pharmaceuticals. >> i agree. >> i think it is a step in the right direction. >> i think it puts them on the spot if i want to use a drug i want to know the cost of it. who is paying the 5000 or whatever it is. i want to know. >> and the drug prices are the highest in the world in america. compare that to elsewhere in the world. >> maybe it won't be if we know the actual cost is. >> the rest of the world gets to enjoy, it is completely different but nonetheless relevant. bearing in mind -- wwe is having an event in saudi arabia november 2. many of the stars
9:25 am
said they feel uneasy following the disappearance after the disappearance of the journalist, jamal khashoggi. and we have a former wwe wrestling champion with us. it's going to take -- >> yes, they will go there. right now the official lineup, they are monitoring this the personal opinion is that they should go. i think the only way to promote change, you want to promote change, we went to abu dhabi for the first women's match that ever happened in the middle east. the crowd was chanting in english, this is change. and for the senators to come out and bash the wwe, i spent seven christmases in iraq and afghanistan. i was with them, the first group to go visit the twin towers while they were still burning. we were the first group, on 9/13 to have this gather. people did not know what was going to happen. for these people to hide behind
9:26 am
9:30 am
stuart: well, get the excitement rolling, shall we? we open up markina 15 seconds. and you lazy gentlemen, will probably like what you see. we'll go up at least 200 points. interest rates are holding steady. after all, 9:30 am eastern time. we are off and running. immediately, right out the box. up 100 points. 101, 119, 186, 215, this is a horse race. up almost 8.84 percent, that is the dow industrial, a very strong agreement checked the s&p 500. where is that? also up 18 points. that is about two thirds of one percent. the big gain is the dow. look at that.that is the nasdaq. it is up nearly 1 percent, 71 points higher peer strength in technology, that is the
9:31 am
strongest sector. the 10 year treasury yield 3.16 percent. rates in check. big names that you know, they reported today. blackrock, goldman, j&j, morgan stanley, unitedhealth, all of them strong.blackrock though, probably not -- that is down 17 percent. i need help with -- >> 17 percent is big! that took -- [laughter] >> sorry! susan is with us, that john luminaries mike murphy and the one your screen shortly, that man is -- okay, sprocket season. i just said the results that we are seeing with exceptional blackrock or strong. what say you? wesley had very strong earnings and that is what we need. that's what the market will be
9:32 am
judged on. more portly, we have had a selloff into the earnings season. so the bar has been lowered for a lot of companies. rather than having to knock the ball out of the park in order to keep up with stock movement, the stocks have pulled back to the earnings announcement. i think this will be enough to push the market higher. stuart: they tell me that when a 20 percent profit gains, gains of 20 percent up to compared to last year. that's what we need to move forward do we get that? >> i think we will get really close. if we get 19.5, would they be weeping? i don't think so pay this is one interesting point for you, stuart. of all the reports that have come out, they look at whether there was tariff troubles was the most mentioned thing and it was not for anyone that said, here is what we are worried about. it is the foreign exchange, the strength of the dollar. it's interesting that the tariffs are taking a backseat that. >> stocks are up. take a look at netflix.
9:33 am
they report after the bell at 4:00 this afternoon. the big number is paid subscribers. >> that's right, paid subscribers to look at the second quarter numbers for subscription numbers. 56 million in the us. after the last quarter, 72.8 million international. i will tell you what they're expecting after the bell today because usually it is the big mover for the stock. it's gains or losses, for the stocks we are talking 650,000 expected in the us, new subscribers. international 4.35 million international. it is also about revenue numbers. for the first time in the second quarter they generated more revenue outside of the u.s. than inside. stuart: okay so that is the big number to look for. >> yes. >> more portly we are down 12 percent on netflix since the last quarterly announcement. if they come out with good numbers it is 90 points but
9:34 am
down three percent in the last three months but i think the setup is for the stock. good news, it should push the stock. >> is up 73 percent this year by the way. >> but down recently. aniseed is up nearly 5 bucks before we get the numbers. as you walk up to that you're buying into a report. amazon chief says we will work with pentagon, america needs defending. it is different from the people that work at google and microsoft. they do not want to work with the pentagon. who is right here? >> when i stepped out of college, a few too many years ago as a chemical engineer, i had to make this choice, i got offered a job the defense industry and i took it. this is what the people need to ask themselves. when they look at the servicemen and women that walk on the street and say thank you for your service, we're not going to support you with our tech. that is very hypocritical. and i think people have to understand that if we are not developing it everyone else in the world is trying to develop the tech that will defend their country. we need to stay on the
9:35 am
forefront. jeff bezos is the right one. stuart: i'm surprised he said it but he did.now we have google. they say google is still thinking about launching a censored version of its search item engine in china. they will not work with the pentagon but they will work with china on censorship? what is with that? >> that is how it appears. it is one thing they said they are thinking about up there working on the product. it has not launched yet but they're working on having it launched in china. i think it's amazing they will not work with the u.s. government but there were work with the communist regime in china. >> and the censorship. >> outrageous! >> if they came back to the s matilda president trump's was to censor these results or those results. would they be okay with it? my guess is, not. stuart: but on the stock. >> i think they have to sell it.
9:36 am
>> i will not sell it. >> why not? >> i think they will get through this. they have such a strong hold on the entire global marketplace. which they may actually be getting if they work something in china, from eight dollars and cents perspective it is a massive deal. stuart: money has no morality. [laughter] >> i agree. >> is that right? >> okay. stuart: checked the big board. we're still up about 200 points, 190 to be precise but how about domino's pizza? take a look at that, please. down three percent to the price of oil, with all of the stuff going on in saudi arabia, where is it? down $0.50 a barrel, at $71 per barrel. gas continues to edge lower. that is a surprise to me! i thought was going to three dollars a gallon. sit back and enjoy, $2.88 is national average retina. and i love this. the palmpilot. do you remember this? it's making a comeback. a brand-new device will come
9:37 am
out. it is a tiny little smart phone about the size of a credit card. you can bring it with you anywhere. they do not want this to replace the big phone that you already have paid this way to use it at times we do not want the bulky thing in your jacket pockets. >> really? >> try reading on that device and tell me whether or not it is for you. [laughter] >> i like this idea! you can sync it to the iphone. basically simplifying is what it's saying, right?>> i like that stephan curry -- that's interesting.>> i will take, the newton, the apple newton was a disaster. palm resurrected that segment. and gave birth to the first great smart phone. i love palm. i do not know this extra device will be the real winner. but i love what it does. stuart: i think 300 for this. what you have, susan? >> i assume that is a smart phone, right? what about the ecosystem. for apple users like myself, i
9:38 am
like my itunes, i like my i movies, i like my apple pay. i do not want a new device at this point if it does not sync with my existing. stuart: but it is android-based. the new palm things android-based. i don't know if it means you can sync it with a apple device. >> a lot of people own android. it is already pretty saturated market. it is hard to battle the entrenched players, don't you think? >> it is not like a credit card company their private you cannot put your money -- well, a guy like you. >> opportunities in the private market.this seems like something people are trying to simplify their lives. we all have smart phones, out of the carrying a second device around, is something you want to do. stuart: okay. [laughter] they are taking aim at lululemon, the gap is coming out with fancy $100 workout pants.
9:39 am
do you have any comments whatsoever? d.r.? [laughter] >> this is a growing sector. my only comment is profit margin. what they are doing is getting pants that stretch a little bit more that have some technology in them and they are charging a lot more! that pair of panties wearing our $80 pair of pants. lululemon has a line up to $115. profit margin, that is where growth is happening in retail apparel right now. stuart: it makes sense. quiz on siena going into spend this morning in the gap. however, think about women on the street they used to be wearing jeans now the black workout pants, lululemon became a staple in the wardrobe. they're trying to get in front of that. >> wearing yoga pants? >> there is a lot more room out there for it. and a lot of startups are doing this and a lot better than the gap will ever do it. stuart: i don't see putting hundred million into the gap. are you doing that? >> absolutely not! their private companies.
9:40 am
there better ways to do and more focused investors. and people to buy the product. >> can i just say, i don't really want to see men in tightfitting pants or lycra. >> fortunately, these -- >> these are looser fitting and they can stretch when you move. therefore sitting, hallelujah. stuart: can i get to this real fast? in last 12 months the treasury has brought in $1.683 trillion in individual tax money. we have raised the deficit to the tune of $779 billion and a four percent growth rate. that is not good for the stock market. is it? >> the hope is that goal evens out. the hope is that the growth can continue to move up and make up for the lower taxes helping to fuel the growth and it will eventually -- if larry kudlow was here that is what he would bet on and i would be with him i think it will eventually play
9:41 am
out that way. stuart: we hope to have a chat with larry on the white house lawn tomorrow! >> the easy way to think about is, this is the upfront investment required for future growth. and i think the market is responding in that way as opposed to worried. stuart: tuesday morning an excellent start to the show and market action. dammit, d.r., mike murphy, thank you very much, indeed. "varney & co." live from the white house tomorrow we start at 9 o'clock. lots of guests joining us, secretary ryan zinke, larry kudlow, kevin has set, kellyanne conway, it will be a big show. it says on the script, don't miss it! i don't like saying that. of course they're going to watch! assume the pose. [laughter] >> will there be a special guest? stuart: we don't know that but we are hopeful. get me out of this!
9:42 am
check the big board. we are up 204 points. 25,455. okay. we told you earlier about a new proposal that will require drug companies to say how much their drugs cost when they put an ad on tv. in the next hour, mark siegel, our own dr. will tell us what difference this will make to everybody! a global beer shortage? what? blamed on extreme weather. you have to hear this one. [laughter] not shy about criticizing the fed. our next guest says, that is good.he will make his case after this.
9:44 am
9:45 am
they have cut their profit. stock is up but they did cut their profit forecast. come on in, tell me why they cut the profit forecast? >> they cut the current profit forecast because they made an incredibly large acquisition for the biggest ever $16 billion acquisition. of flip card. they're cutting the profit forecast by about $0.30. for this year and then $0.60 going forward in the year ahead. and you know what? the stock is not reacting. in fact it is on the upside about one percent. this is the ceo and cfo have been out talking about the fact that they want to push e-commerce.ali said, take on the competition amazon.so they have been doing this not only with flip card. your member they bought jet for over 3 billion. a partnership with mgm, advance auto parts. lingerie. these are the types of things they're doing in order to remain competitive.and they give the outlook for e-commerce
9:46 am
growth saying it will be about 40 percent of sales going forward. they are really going to pick up but a loser in the stock price amazon is up 50 percent. year-to-date, walmart is down. stuart: that is true. thank you, nicole. good stuff. president trump has not been shy about criticizing the federal reserve. our next guest says it is okay. it is encouraging! join us and we have spencer jacob, wall street journal kind of guy. most people look at this say the president of the united states should not be messing around with the independence of the fed. but you say it is okay, make your case. >> here's the thing you have to understand about the fed. his independence is very hard, the reputation rather is hard to earn. and very easy to lose. and we had double -- the fact that the present is criticized the fed will not help him. matter fact, when it comes to a split decision, where the fed has to know, is not sure
9:47 am
whether or not to raise by a court-appointed or not, this might push over the edge, which is not good for the person sitting in the white house at that moment. republican or democrat because the fed is like to be pushed around and they need toassert the independence. the fact that at present, and this is not the first time . this is not the first time that someone in the white house or the congress have tried to assert their will with the fed. but it sends the message to the world, and this is the central bank after all. the fed is independent and is going to act in a way that it acts and it will act in the long-term interest of the u.s. economy. and it has a dual mandate, not just growth in unemployment but keeping inflation in check. stuart: that only works if the fed stands firm and does what it's going to do anyway.that it does not bow to any pressure from the president. how will we know that? >> there's no way to actually know it. if the fed were two for
9:48 am
example, expectations now are that in the next year it will raise rates four times by 1/4 point. of course that could change because the economic landscape change. there can be a downturn, a stock market crash or anything. then it will act. it is very difficult --, you know, in real time to say the fed is doing the right thing. in 10 years there was still say did they do the right thing 2018? we don't know. we do know is that the fed is fiercely independent and is not going to act because of the president's words. the fact that the president's words out there and the fact that it is going to probably raise rates in december, and probably raise rates according to communist forecast 3 to 4 times next year if all goes well. it's a message to the world that the fed is a completely independent institution and criticism actually i think helps in a way. he reminds people. stuart: spencer, this is only through an interview on the federal reserve that we have ever had on this program. [laughter]
9:49 am
congratulations, young man! thank you very much. >> thank you. breaking news. about the missing columnist. >> police found evidence in the saudi consulate that jamal khashoggi was indeed killed there. stuart: they found the evidence? >> there not saying what it was, official telling the associated press they found evidence. that jamal khashoggi was killed in the consulate. stuart: there speculation from other news outlets that the saudis will accept that he was killed in that but it was an interrogation gone wrong. we shall see. check the market please now up a bit less than 200, to be precise.a -- 192 to be precise. and a judge says that stormy daniels will have to pay
9:50 am
9:51 am
9:52 am
9:53 am
starts with great sleep. and the sleep number 360 smart bed is my competitive edge. it intelligently senses our movements and automatically adjusts our firmness and support on each side to keep us both incredibly comfortable. it can even warm our feet to help us fall asleep faster. it's great sleep i can feel and see. better sleep keeps me at the top of my game. for this team... and the home team. the new sleep number 360 smart bed, from $999. it's proven quality sleep. stuart: the dow was up to 20. then we got news that the turks had found evidence that jamal khashoggi was killed in the consulate in his temple.
9:54 am
the market came down and now we are up 180. got it. a federal judge in los angeles throughout stormy daniels defamation suit against the president. how about that? we have judge napolitano here. she may have to pay the presidents legal bills. >> she will. >> that is the english rule. it is a great thing! >> in this case it is the texas rule. and she suited new york to avoid rule. and the president got the case in california and they decided to apply texas law because she was in texas. that's where she was and she said she was harmed by what the president said. they did everything they could to avoid this george w. bush in texas era. which applies english rule, if the case was baseless in the first case. and the judge said, the reason is baseless because it is a political spat. the president has the same first amendment rights as anybody else.
9:55 am
and if you want to turn up the volume on stormy daniels, she can get as much coverage to go after him as he can to go after her. stuart: what do you make of that? >> i think it is the right thing. the president finally won but is not on merit, it is not, that he have sex with her or defame her. it is, can he say whatever he wants about a woman accusing him? the answer is, yes! it is america! stuart: her lawyer, michael avenatti, -- >> this is interesting. it is ambiguous as to actually who pays the fees. the client or the lawyer. because the lawyer is not supposed to bring a case that is frivolous. he is deemed to know the law! the client is not a lawyer. we know what she does for a living. she is not lawyer! she is not to know the law. stuart: we really do need english rule. we really do. it would cut down such frivolous -- >> you can see it beginning to come. i don't know if it will be to the point that you do in great britain but you can see it
9:56 am
beginning. there's something called the rule 11 where the lawyer pays in new jersey there is a frivolous pleading statute. the lawyer pays. so you're going to see it coming. but you know how rampant litigation is in this. she basically filed this lawsuit, as ridiculous as it sounds, dishonest the president of the united states. stuart: oh dear! >> and she ends up paying his bills. stuart: i think we are in some agreement that the english rule is a good rule and we need in the united states. >> the texas rule works! [laughter] >> thank you, judge. reminder. you will hear this all day long. "varney & co." live from the white house to market some big ass lined up including interior secretary, ryan zinke. budget director, mick mulvaney. you will see them both at 9:00 tomorrow morning. that is when we start. now this. senator elizabeth warren takes a dna test to establish her heritage. in my opinion, embarrassment!
9:57 am
10:00 am
stuart: it is almost 10:00 eastern time. it is 7:00 on the west coast. the markets have been open for 30 minutes and we have a sizable gain already. look at that, 230 points. we're close to a 1% gain, very significant gain. we're about to get breaking news on the economy. it is called the jolt report and this is the number of job openings, okay? have we got it? ashley: we do. 7.136 million, for august. those are the job openings. up from a very high in july of 6.93 million. 7.136 million job openings according to the labor department. that is absolutely extraordinary. we've seen that situation where we have not enough people to
10:01 am
fill the job openings, which is a strange stat by itself but that is very impressive. stuart: let me sum this up. there aremillion 136,000 job openings going begging right now? susan: six million looking. stuart: seven million jobs available. ashley: the problem finding matching people with skills to the job openings that has been an issue. stuart: scott shellady with us. tjm europe managing director. he is still over. there i don't know why but he is still over. there. scott, 7.136 million job openings in america as of august i think. that sounds real strong to me, scott. >> it is strong, stuart, here's the deal. i was in the states for the entire month of september and i'm angry at myself for being shocked about how many help-wanted signs i saw, how many buildings were going up on corners desolate for very long time and how many cranes i saw
10:02 am
in the area. in the seven months i had gone full time from the states, the help wanted, the cranes and building i saw going on was unbelievable. so in a very short period of time president trump and that administration has been able change the psyche and tide of the psyche so we're going in the right direction. it has been fantastic to see. stuart: it is extraordinary stuff, scott. stay there for a second. bring our viewers to the attention of the big board. when we got the news we were up 210. now we're up 255 points on the strength of those 7.1 million job openings. this is a very strong economy. ashley: yep. stuart: all right, everyone. now this. what an embarassment. senator elizabeth warren take as dna test to establish her native-american heritage. she had claimed the status as a law professor and president trump called her on it. so she takes the test. the result? most white americans have more
10:03 am
native-american blood than senator warren. which means if senator warren sets the standard, you too could claim a minority preference. what absolute nonsense and what a mistake. the test that the senator took is shaky because there are so few reliable samples the senator's dna was compared to data from mexico, peru and colombia. the cherokee nation says it is inappropriate and wrong. she is undermining tribal interests. what a political mistake, three weeks before the midterms, a leading democrat is sucking all the oxygen about the debate with a strange video on dna. surely democrats in tight senate races don't want to be dragged off message and dragged into the identity politics swamp but that's what's happening. what is going on here? senator warren is getting the issue out now so she can run for the presidency in two years f that is the strategy it is not
10:04 am
working. the test is a farce. the results don'ting back up the claim, this surely does not help the future candidacy but what she has also done put identity politics back in the spotlight. she is repeating hillary clinton's mistake. middle america doesn't vote for you because you're a woman or an african-american or a hispanic or native-american. we vote for candidates with good policies and there is another test that senator warren has failed. she sis a socialist and socialism is not good policy i will calm down for the second hour of "varney & company." [laughter] ♪ stuart: by the way president trump tweeted this about senator warren this morning. here we go. pocahontas, the bad version, sometimes referred to as elizabeth warren is getting slammed. she took a bogus dna test. it showed she may be 1/
10:05 am
1/1024th, far less than the average american. the cherokee nation denies her. dna test is useless. even though don't want her. phony. that is pretty strong stuff i would say. matching my rant at the top of the hour. katie pavlich, "town hall" editor and fox news contributor. my point is really, get away from the emotion here, she is killing identity politics. >> i'm here for the very serious story of elizabeth warren whiter than most white americans. she put the nail in the coffin after week-long situation where the democrats identity politics charade was completely debunked. you had kanye west in the white house with president trump, a number of black pastors, jim brown. women coming out in defense of brett kavanaugh. no one would defend a republican male accused of anything. then you have elizabeth warren thinking this would actually go well for her, well-coordinated
10:06 am
rollout, the video they put out, the website, her twitter feed yesterday tripling down on these results as if they are legitimate and then the media role in this was ridiculous as well. you had "the boston globe" come out say her claims of having this kind of ancestry had been corroborated. but then they had to correct their story because they did the math wrong which got us to this 1/1024 number which is just so laughable, you can even take it seriously. for her to now be throwing this bomb in the middle of the situation right before the midterm elections, you had president obama's former campaign manager come out and say look, could you not do this right now? couldn't you wait? stuart: why did she do this right now? i think she is running for presidency in 2020? >> yeah. stuart: did she do this now? >> she wants it to be old news when it comes up in six months, democrats really get started campaigning and people start declaring for primary.
10:07 am
stuart: she faces re-election three weeks from now. >> yeah. stuart: she is up for re-election in november? >> it has been a local issue in the massachusetts, "boston globe" has been calling her out saying you need to explain why you listed yourself as minority status for certain applications but didn't for others. yesterday elizabeth warren was saying don't worry i don't list myself as minority for the senate but she diddlies herself as minority for the came to a perfectly good list of, of lawyers and law school professors to get other positions at harvard law and promotions so to speak. so you know. stuart: afraid your mic is russelling. >> i'm trying to listen while you're talking to me, trying to make very clear and concise points. okay. stuart: you're having fun. >> having fun so. stuart: we want you to come back anytime. thank you so much. i appreciate it. tuesday morning, everybody. stuart: you got it. see you later. scott hello slade did i, still
10:08 am
with us. you have another question for you, scott. i'm not talking about senator warren here. in europe "brexit" negotiations have stalled, the brits are in trouble. in germany angela merkel's coalition is taking a real beating and looks very shaky and italy's populist government is facing a budget a monetary fight with the european union. come back in again, scott. it looks to us like the european union is not doing well? >> you know what, stuart? i said this for a while. you left out the fact that barack macron in france is seeing his numbers, spanish and their fight for independence. so across the map in europe you've got tumult everywhere. so i think -- we're all worried about these high interest rates in the states. maybe that might set the equity market off, what will be the next black swan. i don't think the european union is on a lot of people's radar. we could get a real scare coming out of europe and u.s. coming
10:09 am
out with high interest rates. this place is a mess. ultimately i think "brexit" will sort itself out. italy is, hasn't done anything new with their budget problems. barack macron is in trouble in his own country, spain, there is nothing positive happening in the european union. that is where the trouble could start next. stuart: what sign should i look for if i'm looking for trouble in the european union. should i look at italian banks, yield on italy's government debt? is that what i should look at? >> look at yields. we look them every morning. to see if there is any stress anywhere. they were printing so much money at european central banks it is so distorted does anybody believe european countries that are in trouble have lower yield than the u.s. government? think about that for a second. that is crazy talk. they're giving away money over
10:10 am
here. the u.s. is well on its way to stronger economy. stuart: time to come back to the true home, the united states of america. >> i have one thing to say about elizabeth warren. if and when she does run for president, needs to drop the name pocahontas, can run as chief lefty socialist? how about that? i think she might reject both. cot, you're all right. see you again soon. thank you, sir. we'll check the big board. we're, yes, we mr., new high for the day. now we're up 281 points, well over 1%. we're at 25, five. strong earnings reports from most of those reporting can with the exception of blackrock. j&j, goldman sachs, united health, they are driving those market highwer very strong earnings reports. big tech leading the market as well. look at this, they're all higher. microsoft one of the biggest gainers in the dow.
10:11 am
facebook, microsoft alphabet all strongly to the upside. netflix, report earnings after the bell, 4:00 eastern time this afternoon. the big number to watch there is their paid subscribers how many have they gained. that is the number to check there. tesla look at that, today a judge has approved musk's settlement with the sec. that is good news for the stock. it is up 12 bucks at 272. big hour coming up for you. look at this headline from howie kurtz, why trump is on a non-stop media campaign. we said all the time we've never seen a president quite like this one. howie makes his case in just a moment. secretary of state pompeo arrived in saudi arabia hearing their side of the story, pressing for the truth, turkish officials say they have evidence the columnist khashoggi was killed at that consulate. walid phares with us later this hour. the administration going
10:12 am
10:13 am
where people go to learn about their medicare options before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why...medicare part b doesn't pay for everything. this part is up to you. a medicare supplement plan helps pay for some of what medicare doesn't. call unitedhealthcare insurance company today to request this free decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. do you accept medicare patients? i sure do! so call unitedhealthcare today and ask for your free decision guide. oh, and happy birthday... or retirement... in advance.
10:15 am
stuart: not quite the high of the day but we're pretty close. we're up exactly 250 points right at 25,500. look at dominoes, weak sales in the united states. no explanation for that but they're down 3%. look at tilray a canadian cannabis producer. one analyst raised valuation of the stock. that is not working. tilray on the downside today. here is headline for you
10:16 am
from fox news, quote, engaging the enemy, why trump is on a non-stop media campaign. the guy who wrote it is howard kurtz and he joins us now. howard, i will tell you why he is on a non-stop media campaign. he handles the media really well and he knows it. what is your explanation? >> part of my explanation the midterms is coming up, even by trumpian standard, fox news, "60 minutes," taking questions multiple times a day sometimes at great length is dominating the news agenda. i thought this was strategy cooked up by his advisors. white house insiders say it is all him. the president feels like he is the best communicator on the team and he wants to be out there. stuart: what do you think about the "60 minutes" interview? i thought he handled leslie stall really well, handled interview by a leading journalist. i thought the man handled it well, direct, rapid fire,
10:17 am
honest, open. open. i'm not used to that for a president. >> that is the first interview with "60 minutes" where he took office. except for the part where he said i'm president, you're not. we kind of know that you're seeing a lot of confidence. one of the reasons the president is out there so much, what sources tell me, he feels like he had a good two or three weeks. kavanaugh on the high court. unemployment at 3.7%. the canada trade deal, getting the american pastor from turkey. there is kind of a lull publicly at least in the mueller probe. so he is not getting pestered with questions on that. so i think that made him, he feels like he has a good product to sell right now. stuart: what do you think the response of the american public? do you think they have had enough or do they want more? >> if there was any other president, wow he is really in danger of overexposure but donald trump is former reality show star, he knows how to do the programing thing. even all the rallies are not being televised, at the same time he mixes it up.
10:18 am
if we get bored talking about canadian trade, suddenly he has oval office event with kanye west and everybody debates that for three days. the one bit of grumbling i'm hearing from reporters, this is superseding the daily press briefings. as zare haw ruch bee sanders is saying who would you rather hear from, me or the president of the united states? hard to argue with that. stuart: do you think he will keep up this pace? >> i don't think he will keep up this pace. i think even he would want to give a break. he likes the groove he is in. stops during questions before boarding helicopters. this president gives much more far access than barack obama. if you're a journalist that is a good thing and you can press him. stuart: he is watching and listening. 9:00 this morning when we went
10:19 am
on the air we casually suggested that president trump will tweeting soon about the migrant caravan approaching the u.s.-mexico border. within three minutes he tweeted about the caravan approaching u.s.-mexico border. we like that. >> since i'm on with you, i feel like i have a more important audience than usual. stuart: how true, how true. howard, thank you very much indeed. see you again soon. >> thank you, stuart. stuart: this is something different. amazon's founder jeff bezos, okay? he is making a prediction about the human population of the planet. what is he saying? ashley: and the solar system. one day there will be a trillion humans in the solar system. solar system, meaning that the either's future is finite based on population. he is pushing his space exploration and blue origin company. he says what we need for space exploration and space technology is what we've seen on the internet in the last 20 years, explosion of what we've seen on
10:20 am
the internet. he says we need to see that developed for space, and, you know, i'm going to be long gone but i want to see the fulfillment of my space program and others exploring the universe when we have the population explosion, they're not just going to be living on earth. they will be living -- stuart: what is the "star trek" expression -- ashley: boldly go where no man has gone before. stuart: that is split infin tiff. i never liked that. susan: he is spending a billion dollars each year. he is putting his money where his mouth is. stuart: that is his money. ashley: he is quite happy to work with the defense department. take that away from the conversation. stuart: let's give him credit for that. you know, i haven't mentioned this for a few minutes. ashley: been that long? stuart: at least a few seconds. >> okay. stuart: but tomorrow we're going to be live from the white house. larry kudlow, kevin hassett, top economic guys, they will be with me and many more. we'll be back with you in a moment.
10:21 am
♪ we started making wine in 1948... [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather taught me to make a wine that over delivers. chubb, over delivers.
10:22 am
that over delivers. that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage.
10:23 am
everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call and ask about saving $1000 on your walk-in bath, or visit kohlerwalkinbath.com for more info.
10:24 am
stuart: we're really close to the high of the day. we're up what, 281 points. that is better than 1%. 25,500. tesla owners they will get a free upgrade to their autopilot system. what is that about, ashley? ashley: i have no idea. i'm looking -- susan: let me handle this one, how about that? i will handle tesla. ashley: you have the tesla story. i have the -- susan: basically tesla, elon musk says they will offer a new chip to improve the autopilot
10:25 am
features which will be available in just around six months in all of the company's new production cars. he is saying that the new chip means they can improve the performance of tesla's autopilot by 500 to 2,000%. if you don't have autopilot, you pay for it in the cars, don't worry. if you pay $5000 you get a brand new upgraded chip as well, and you too can be driving hands-free. stuart: you have the story. susan: there you go. stuart: what is this about? ashley: now to the story i was assigned to. stuart: partnership with big-name automakers? ashley: as we go forward, no way car companies can go it along with self-driving automated technology. it is expensive to develop. there is a slew of partnerships. last year there were 271 between auto companies, software and other companies. gm and honda. diamond and bmw working on
10:26 am
demand transportation program. they're basically whittling it down a few of big players joining each other. it is expensive, it is very expensive and technology is complicated. bottom line you will see a lot more of these partnerships. stuart: they are convinced it is the way of the future. ashley: they are. stuart: i'm not but they are. ashley: they are. susan: note tesla's stock is moving because they settled wells with the sec. stuart: settled with the sec. president trump says elizabeth warren should apologize for perpetrating a fraud against the american public that is a reference to her claims of native-american heritage. i want to know what brian kilmeade thinks of all of this. by the way, two minutes from now, the beatles. we'll be back. ♪
10:30 am
♪ ashley: early beatles. stuart: early, early beatles. move on to the middle or late beatles. our viewers are crying out for sgt. pepper. they feel it. okay. i promise tomorrow. when we come from the white house, actually. check the big board. we're up 220 points. we like it. big tech names, how are they doing? they're all up, facebook, amazon, apple, alphabet, microsoft, solid, solid gains across the big tech range. >> adobe, that is a cloud company. a big gainer as member of the s&p 500 of course. it reaffirmed a very positive forecast. investors clearly like it. this stock is up 6 1/2%. look at walmart.
10:31 am
they caught their profit forecast for the future because they bought an big indian e-commerce company, flipkart, which they say will hurt profits down the road. investors still going for the stock. that is walmart. jeff bezos, says amazon will work for the defense department. we'll do that. if other big tech companies turn their back on military, and they have, the country will be in trouble. come in congressman sean duffy, joining us now, republican wisconsin. sean, what do you make of this, googles of this world, no we'll not work with the defense department but we think work with the chinese, what is going on here? >> that's a great point. so google says we're not going to partner with the dod, the department of defense, and make sure we keep america safe against rising threats around the world but it doesn't violate google's principles to partner with china for a search engine that will censor the chinese as
10:32 am
they search the worldwide web. this is insane. not openly that, all the tech companies in san francisco, they're hacked, new technology is stolen on daily, weekly, yearly basis and they look to the federal government to actually protect them. they look to the federal government to protect them from hacks and stealing. but we don't want to help america protect itself from rising threats around the world. i think it is shameful. this is what you get with liberalism in san francisco. you get anti-americanism which is frankly frightening and sad. stuart: let me bring this to your attention too, i'm sure you know about this. look the government, we are running a gigantic budget deficit. $779 billion, highest in six years. at the same time, we've got a 4% growth rate. you know, that is not supposed to be the way you do it, a massive deficit with very strong economic growth. the don't don't jive. what do you make of this?
10:33 am
>> one, we don't have a revenue problem, we have a spending problem. we spend too much on entilements, medicare, social security, medicaid. those are out of control on the spending side. on flipside we spent a lot on the military. also interest in debt. 20 plus trillion in debt. rates are rising. we spend more to service the debt. that is another budget item we didn't consider. we see personal tax revenue to the federal covers going up, which more people working making more money. so that is a positive. corporate revenue to the federal covers has gone down. i think that will pay dividends in the long run. invests pay off in profits, more money come to the federal coffers. we'll see repatriation of profits coming back and companies coming back to the states. this is tax reform, stuart. tax reform in the long run will pay dividend on revenue but it will take time on the corporate side. stuart: but you're in the house
10:34 am
of representatives. they handle the money. can you see any way in the immediate future where we seriously cut spending? >> stuart, let me give you an example how hard it is, when you give people stuff for free, it is hard to take it away. we're trying in the farm bill to reform food stamps, if you get food stamps, you work for 20 hours, go to school or volunteer. you can't be a buff and tough guy 36 years old sitting home to watching "sportscenter" but we give exceptions to those with disabilities. we can't make changes in the farm bill to get people to work. when there is help-wanted signs in the country. that is how insane the washington is. democrats want to hold on to the programs when they're ripe for reform and they cost a lot of money, stuart. stuart: yeah. >> small things have to get done even before we get to the larger reform issues if we get our
10:35 am
budgets in order. you're right, our economy is growing far too much have this size after debt on our hands. stuart: it really is. sean, thanks for joining us. always appreciate it. thank you very much, sir. we're waiting, brian kilmeade will join us shortly. we'll just join his radio show shortly. i will fill in the gap about a global beer shortage. who better, apparently triggered by extreme weather. this is ashley's story. ashley: bury the lead story. should have been up at 9:00 hour. just saying. researchers at university in uk, if the climate goes the way the scientists say it will go it will hurt barley production. barley is the main ingredient in beer. beer production could slip by 16% which could be bad news for a lot of people. means the price of beer could skyrocket, double in price. stuart: well --
10:36 am
ashley: biggest beer consumers in the world, china. stuart: oh, we did not know that. ashley: there you go a little-known fact. china would be especially hurt. stuart: is that the pronounciation. >> named after a coastal city in china. they drink that much beer? i didn't know that. stuart: 1.2 billion people can drink a lot of beer. ashley: that's true. stuart: before we get to brian, he will come on board shortly, a tweet from president trump responding to senator warren's dna test. thank you to the cherokee nation for revealing that elizabeth warren, sometimes referred to as pocahontas is a complete and told fraud. he is with us live on the radio, brian kilmeade, host of the "brian kilmeade show." i know you've been covering the senator warren dna test story. what is your take on it, please? >> put it this way, the most revealing thing to come out of the story the average european around that time who was in this
10:37 am
country had more, on average had higher percentage of american indian dna than elizabeth warren. so the average european that was here, not senator from massachusetts, had more indian blood, dna than elizabeth warren. where they had to go, i'm not a 23andme candidate, i applied there, they didn't accept me, they had to go to peru and south america in order to get a standard in order to test her dna to see if they can find a match. to me if i got those results i would keep it to myself. to me it has totally blown up in her face. the cherokee nation rebuked her. "the boston globe" had to revise twice the percentage of american indian dna she had in her system. looks as though she got a harvard professorship because she claimed to be american indian. this is showing that donald trump has gotten in elizabeth warren's head, to the point she can't even function until she to the this issue set
10:38 am
to the side. stuart: knocks away the whole idea of identity politics. after all, if you and i, brian, have a higher percentage of native-american blood in us as senator warren, why can't we too claim some kind of minority preference? why not? we're all people of color now, aren't we? >> that's a great point. or do the right thing and not. let people look at your applications, resume', what you want to do in life, judge you on your own merits hope the world is somewhat of a fair place. stuart: that is radical. >> i know your panel will disagree with that. you're in the real world. i'm in fantasy world. stuart: judge us on the merits? good lord, what are you thinking. i have to get to this, as you know this show we'll be live from the white house tomorrow. i know you've done your show from there on couple of occasions, fox -- "fox & friends" in the morning i
10:39 am
want some advice. >> i did radio show there twice. anyone who works for president trump could walk in and put the headsets on. be ready for everyone. you look up and say sarah huckabee sanders. there is steve mnuchin. there is general kelly. you have to be ready. that is what happens. you can promise, you can be promised certain people, only one they focus on is the president. you have so many important people before and after. i think every single person in who sits in that chair can make news. so stuart varney, i know you think you're good but you're going to really be tested tomorrow to see if you can move the ball on saudi arabian sanctions number one, on the deficit, which is almost a trillion dollars. even though we're having, we're having a great economy, how the heck are we overbudget? is anyone going to cut any program ever? get to the bottom of this general mattis situation. these are some of the assignments i give you, i will slide it under your door so you
10:40 am
don't forget. stuart: thank you very much, brian for that advice. it will be a barrel of laughs. i can tell. kilmeade, thank you. >> good luck tomorrow. you will do great. stuart: president trump warning honduras they will stop giving aid to that country if that migrant caravan doesn't turn around. as you can see well over 1000 people from honduras, are heading to the border, they will arrive around election day. what will we do? secretary of state pompeo met with the king and crown prince too. this is situation we can't afford to break down completely. walid phares advised the president and talking about the containment of iraq. we're still up nicely, up more than 245 points. more "varney" after this. ♪
10:42 am
takes more than just investment advice. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. ♪ ashley: former wrestling champ john layfield says the wwe should keep its planned event in saudi arabia as scheduled and not cancel it. take a listen. >> wwe went to abu dhabi, first woman's match ever happened in the middle east. the crowd was chanting in english, this is change.
10:43 am
for these senators to come out and bash the wwe on this, i spent seven christmases in iraq and wwe. i was with the first group to visit twin towers while still building, bodies were pulled out. we're first group on 9/13, to have a mass gathering. people didn't know what would happen. for these guys to hide behind patriotism and show flag waving to improve their abysmal approval ratings. wwe has been on the forefront of change. ♪ a good place to start is with an independent registered investment advisor. as fiduciaries, they live by a simple rule: always act in the best interests of their clients. that's why charles schwab is proud to support more independent financial advisors and their clients than anyone else.
10:44 am
visit findyourindependentadvisor.com today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living.
10:45 am
together we'll make the right choice. stuart: this is the high of the day. we're up 283 points. 1.12%, 25,535. now we're up 285. 294. 298. 297. it is a horse race, horse fans. up almost 300, almost. secretary of state mike pompeo is in saudi arabia. he already met with the king. i believe he held a meeting with the crown prince, the man with the power. there is the video of it right there. the crown prince, meeting on right-hand side of your screen. this is all about the missing columnist jamal khashoggi. the associated press reports that turkish officials say they have found evidence that khashoggi was killed in the saudi consulate in istanbul. walid pharis, is with us, fox news national security analyst. walid, the one thing we cannot
10:46 am
do, no matter what has transpired, the one thing we can't do is break the relationship with saudi arabia and therefore break the containment of iran. do you agree? >> absolutely. that was actually the statement i wanted to make. you did it -- stuart: sorry. >> two things. no, thank you for making the statement. allows me to make another one. there is a judicial process, people, especially in the opposition here rushing to break that relationship between the u.s. and saudi arabia rush as if there is no judicial process. there is one and number one saudi judicial process. this is the government of the saudi arabia he is or was a citizen of saudi arabia. he is holder after green card but it's a saudi matter they need to address. if the international community and the u.s. are not satisfied with the justice system, then they could take measures. having said that you're absolutely right, we will break relationship, a strategic relationship which we have spent many decade maintaining in the past two years, developing into an arab alliance, an arab
10:47 am
coalition to contain iran to find jihadists? that could not be in the national security interests at all. it will have impact. it will have at least three consequences. number one, it would dismantle the coalition. you cannot have the coalition if we're in crisis with the saudis. number two, it will jeopardize our sanctions on iran. think about it. how do we do sanctions on iranian regime and loosen tire arab coalition? number three, another important matter, how do we engage in the israeli, conflict resolution without the saudis, u.a.e. and jordan. unthinkable but we need to address the judicial issue. stuart: but there will be a prize to be paid by saudi arabia. i see all these financial people and executives retreating from in davos in the desert, taking away their interests in saudi arabia. they will pay a price. the question is, will that be a high enough price according to
10:48 am
the international community? >> this is the wrong price. we have our companies and our financial entities dealing with saudi financial entities and gulf and enat the national. that is one track. the saudi government would need to pay a price if they are found responsible to the family. that is what i was talking about the judicial process what we're looking at, not going into some warfare with no reason at the end of the day. stuart: do you think at the end of the day the containment of iran has got to be stayed in place but how about that 110 billion-dollar arms deal between america and the saudis? that is not going to go away surely. >> i don't think it will go away. this is something done by any administration here i hope and any of course, government in saudi arabia or leadership in saudi arabia. this is between two countries, two states, two economies, for the purpose of the defense of gulf. this goes beyond anything we're seeing right now.
10:49 am
more important, if we put extra pressure because of the lobby, iranian lobby or muslim brotherhood lobby on leadership of saudi arabia at this point in time we will be shooting ourselves not one foot but both feet at the same time. stuart: walid, thank you. i stole your line. one thing i am not supposed to do is steal a man's headline. i'm very sorry. >> you shouldn't of the it is yours. stuart: all right. totally different subject, very important though, the administration is putting drug companies on notice. they rolled out a proposal would require them to say how much a drug costs when it appears in a tv ad. dr. siegel discusses that in a moment. ♪ your company is constantly evolving.
10:51 am
have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business.
10:53 am
stuart: another new high for the day. now we're up one 1/4%. that is well over 300 points. strong earnings reports first thing this morning really helping this market. the trump administration wants to make drug prices transparent. drugmakers will have to, this is what they want. drugmakers disclose the price of drugs when they make a tv
10:54 am
commercial. dr. marc siegel is with us right now, fox news medical correspondent. let's suppose, look, i see ads for cialis and viagra all day long. if i'm watching in the future will they have to tell me the price per pill? >> yes, the price per month. the price per month they will have to tell you over a supply of cialis or viagra. you chose the right two. they are in the top five selling drugs, those two. top five cost anywhere between $550 a month and $11,000 a month. hidden prices. stuart: those are top five selling drugs. we're not talking about cialis and viagra, talking about top five selling drugs, one of them at least is 11,000 bucks a month? >> yes. stuart: they will have to tell me that when i see a commercial? >> yes. stuart: sounds like a good idea to me. >> pharma will not like about this. there will be definitely lawsuits. you're a viewer, you watch tv,
10:55 am
hey this is what your cialis will cost, you go to the pharmacy, you say this, is why my co-pay is so high but the pharmacist is now allowed to tell you under two bills passed last week under president trump, the pharmacist says i have a generic alternative. cialis has generic alternative. viagra has generic alternative. the pharmacist can tell you. you buy that less than what the co-pay is. it will save enormously the cost of pharmaceuticals. stuart: i like this. the tv ad must tell you the price. the pharmacist able to give you or recommend a generic drug. price is down. with is wrong with all of this? >> huge. now, the pharmaceutical companies have been playing games. they don't want this. now this is only a proposal right now. talking about the ad. 60 days for people to complain. you know the pharmaceutical companies will try to block this. i predict the way president trump is acting on this, it will go through. it's a great idea.
10:56 am
stuart: well-said, dr. marc siegel. i just love it. >> i'm not saying anything about cialis, stuart but these are really big-selling drugs and we need to know the price. stuart: yes. >> they're very expensive. i as physician know the generic alternatives. i want my patients to know. stuart: you're all right dr. marc siegel, good stuff. >> good to see you, stuart. stuart: difficult subject. suspicious letter sent to the home of maine senator susan collins believed to contain the poison ricin. this is another sign of toxic politics to coin a phrase? senator bill cassidy joins us next hour. look at the big board. we're now up 332 points at the third hour of "varney & company" rolls on. ♪
10:58 am
gimme one minute... and i'll tell you some important things to know about medicare. first, it doesn't pay for everything. say this pizza is your part b medical expenses. this much - about 80% - medicare will pay for. what's left is on you. that's where an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company comes in. this type of plan helps pay some of what medicare doesn't. these are the only plans to carry the aarp endorsement
10:59 am
for meeting their high standards of quality and service. so call unitedhealthcare insurance company today and ask for your free decision guide. with this type of plan, you'll have the freedom to choose any doctor who accepts medicare patients. and when you travel, your plan will go with you - anywhere in the country. whew! call unitedhealthcare today and ask for your free decision guide.
11:00 am
stuart: occasionally, we blow our own trumpet. i'm not kind to boast i'm certainly not, but we are going to show is a self promote tomorrow, this program will come to you from the white house. we are going to set up shop on the white house lawn and bring a cabinet members and administration officials who deal with trade, deregulation, all the financial issues. we are going right to the center of the action. i have to tell you that this is a big deal for me personally. yes, i am obviously an immigrant and i'm taking this program to the white house here to would've thought. i said it before and i'll say it again. where else in the world can a guy with a very foreign voice get on tv and tell the locals what's going on in our country and be widely accepted? that's astonishing. america should hear more from immigrant who really like this country. we are out there, you know. i don't meet many immigrant whiners and have to whiners and
11:01 am
have to rollick you like it, you don't have to -- nothing is stopping you from leaving. so thank you, america. there comes a third hour of "varney & company." and tomorrow, the white house. ♪ stuart: well, i'm going to self promote again this time tomorrow will be doing the show from the white house. let's bring in making money host, charles payne. charles, uni and ash and susan, are we shining examples of the american dream? >> absolutely, absolutely. stuart: we all started with nothing. >> nothing. a lot of hurdles, a lot of doubters. listen, i pinch myself sometimes. i really do. i would say so many kids i grew up with are dead. a lot of them in jail. some are drug attics.
11:02 am
the ones who are successful are doing very well. the one to make it out have upward mobility. they are all earning more than they've ever earned in their lives. they take vacations come into well for their family. these thresholds in our world and it's amazing to be an american. it really is. stuart: one of the people i grew up with are still buried in socialist. >> pay high taxes. stuart: very high taxes. that's true. some news about her 11:00 hour tomorrow. we will have interviews with kevin hasek and features they council of economic. kellyanne conway in the 11:00 hour to market another promo for you. i've got a show you the market. have you seen this? ashley: we have. by the way, where can i be at the white house. 326. it is a huge rally and you know, we just got the latest number on job openings. charles, it was that endpoint 136 million jobs.
11:03 am
that is huge. >> it is so mind-boggling to consider we only cracked 6 million this summer. for the first time. so we did a million in three months. a million extra job openings in three months. the pace of job creation in this country is bewildering that construction 290,000 from 215,000 a year ago. manufacturer must have been hundred 16,000. finance 339,000 from 261,000. the list goes on and on and on. it's the unremarkable. it really is. stuart: did the president tweaked directly to jail or about you. here it is. eight times more new manufacturing jobs than with obama@fox news,@charles payne. >> by the way, and if you do adp's number, using adp numbers in the last 21 months have been 345,000 manufacturing jobs are
11:04 am
the prior 21 months 34,000. there is no doubt that those jobs have come back despite the fact we were told they never would and this is what i think is president trump's advantage. republicans quite frank going into the midterms, the forgotten men and women come the gainfully employed. stuart: what really shocks me is i don't read this kind of stuff on the front page of "the new york times," cbs evening news or any other news program. >> it doesn't fit the narrative. >> 7.1 million job openings. the number one story in the country. i don't care who you are or what you believe in. everyone needs a job, everyone wants to feed their family and i run once the upward prosperity we started to show. stuart: switching gears a little bit here. i've got news on big tech. jeff bezos says yes, amazon will work with the military. that's very different than workers at google and microsoft. they don't want to work with the
11:05 am
military. bezos is doing the right thing here. microsoft and google doing the wrong thing. >> especially google. the ceo at this fast 25 conference suggesting the censorship after going to work with china after they are working with the defense department on the $10 billion project. but are willing to help the chinese government censor their own citizens. or have to use the technology to spy on them and to impress people. it is shocking they somehow have found this to be morally okay and one not to be. stuart: guys like you in a difficult position. would you say buy google stock on the ground that it's a very profitable company unlikely to go up to more or would you say no, i will not support a software company that want to
11:06 am
business. >> my personal experience as companies ran poorly is ultimately a reflection in stock. i remember once at a parking garage in your career so i wouldn't check out the stockton followed it for two weeks. they lost 50% of its value. poorly run companies are completely google turning on this business. say what you will about jeff bezos, amazon is to buy because he's doing the right thing for shareholders. he's trying to make money. i don't think it's political with this. you go to amazon and skip google in my mind. stuart: before we leave you or before you leave us, what about luber? the report now valued out $120 billion. way more than a few months ago. stuart: this is my issue with the so-called unicorns. these private entities and ironically vocals at the top of the page. they get to invest in as companies with more valuations. they invested 10 billion,
11:07 am
20 billion a 30 billion, 40 billion. they bring the public in an essay by the way now you can have a bite of the apple. give me a bite of the apple a 30 billion. this despite recently we've seen a lot of tech ipos have been disasters, unmitigated disasters. sadly now for regular investors and as companies go public you got a ways next month or year to see if they'll really live up to the hype. they are still overvalued. the same people who point their finger at the capitalists get to make all of the money. every time they get to make all the money ever single time. everyone in silicon valley gets to make every single nickel out there and they'll sell this to uber this to goober riders coming drivers come the general public. not to say it won't cause long-term, but it's just unpleasant. i hate the way this is gone. stuart: most of the time i agree with you. what are you going to sleep about netflix?
11:08 am
>> to report profits of 4:00 this afternoon. everyone's looking at the number of subscribers and subscriber growth at the moment they've got 131 million subscribers. that's when i go up. >> it's going to go wide. he's a hype man just as willacy one must be overhyped at last month but ultimately the first mover internationally will keep working in their favor. if i want to take a shot, taken before the close and see what happens. stuart: see what happens. story of my life. we're going to go to a country called america and see what's going on there. >> i'm going to be on at 2:00. market rally down 30 points.
11:09 am
[laughter] stuart: thank you, charles. 1500 honduran migrants marching towards the u.s.-mexico border. they arrive right about election day. i want to know what are we going to do about that? for an answer i'll ask former act denies direct their tom hallman. secretary of state pompeo in saudi arabia. all about the disappearance of the saudi columnist. we'll talk to her expert david rubin on the subject. senator susan collins home in maine believed to contain the poison ricin. next senator bill cassidy. i want to talk to him about this toxic politics. i think it's just got to stop. tomorrow we will be live from the white house. as they like to say, you never know who might pop in. stay there. a jampacked hour still ahead.
11:10 am
11:11 am
♪ cal: ellen, our certified financial planner™ professional, helps us manage our cash flow and plan for the unexpected. valerie: her experience and training gave us the courage to go for it. it's our "confident forever plan"... cal: ...and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. some things are good to know. like, where to find the cheapest gas in town. something else that's good to know? if you have medicare and medicaid, you may be able to get more benefits thru a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with over 30 years of medicare experience. and, if you have medicare and medicaid, a humana plan may give
11:12 am
you extra benefits - like dental, vision and hearing aid coverage. an allowance for over-the-counter health care products. even home delivered meals after an in-patient hospital stay. so if you have medicare and medicaid, call a licensed humana sales agent now to request this free guide. and learn about plans that could give you more benefits. call now.
11:13 am
train to the treasury took in a record amount of taxes from individuals in the last 12 months. but at the same time, the federal debt has climbed to its highest level in six years. maximum tax revenue and yet the deficit goes up in a 4% growing economy. massive is to be like that but a good graphic nonetheless it investigations underway. someone sent a suspicious letter to susan collins home in maine. the letter believed to have contained the poison ricin. senator bill cassidy, republican, louisiana. this is toxic politics and i'm sure you don't like it. >> it is totally toxic and some on the left having been unable to win elections and unable to
11:14 am
do with the consequences of being able to appeal to the american point role have resulted to thuggery, intimidation physical and emotional and unfortunately some leadership sink it in their face or kick them or don't be civil. done about works. it should be pushed back on by the leadership, not encouraged. >> i've not heard a single leading democrats say knock it off, retreat, become more civil. i don't think that's a very good strategy as the midterms approach. >> hey, listen. it may not be a good strategy but it's good for the united states of america. if this was the right to do to the left who would be all over the place. i'm from louisiana. i know steve scalise and i know what also happened to steve. there are accomplishments to get in their face into kick. some folks unhinged will go too far and i would ask all in our
11:15 am
political spectrum. maybe it not good for electoral chances. maybe it is. to be in attendance will say they're being responsible. but if not maybe they're being irresponsible. stuart: let me move on. republicans have avoided talking much about health care as we go to the midterms. you don't agree that strategy do you? >> republicans have offered bills, sometimes co-author that would lower premiums by as much as 20%. after negotiating with democrats, democrats do not support. i was with susan collins of omar alexander in the insurance market. we have can distantly sought to lower premiums. there's a fellow in my state, his quote was $40,000 for his family and a $13,000 deductible. republicans trying to lower that. there's not much to defend.
11:16 am
stuart: what about preexisting conditions? that's a real sticking point. >> everything i propose has explicitly taken care of those with preexisting conditions. the ultimate loss of coverage is being unable to afford. the fellow i mentioned was a special needs child. $40,000 for one year and a $13,800 family did not evolve. that is the ultimate loss of coverage for preexisting conditions when you cannot afford. stuart: what do you make of this proposal won a drug company puts an ad on tv are going to tell the cost of that drug. most people say that's pretty good stuff, but it might get prices down a little bit. what they do. >> totally in agreement with that. medicare part d is suited and entered the pharmaceutical companies that have a high list price even if they're doing a large rebate on the backside. in the medicare part d in a senior citizen in the
11:17 am
catastrophic coverage which is expensive at the taxpayer. it's expensive for the senior citizen. i think legitimate to note the list prices are. stuart: transparency in the drug pricing business. under cassidy, thank you for taking time out to be with us. >> much appreciated, stuart. stuart: yes, sir. we will check a couple markets before we get to the dow. the price of gold is up a buck. 1231. not much movement despite the turmoil. bitcoin is around 6400 bucks a coin now. the price of oil it lead to $71 a barrel. correct, that's where it is. the price of gasoline is drifting down just a little. $2.88 of the national average down about a penny from yesterday. $2.80 national average. check this out, please. ibm's new mobile security
11:18 am
operations center. that is an 18-wheeler tractor trailer. the cybersecurity conference this week. coming up we talked to the vice president of threat intelligence about all the hacks we've been experiencing. this, a new report shows some countries are blocking efforts to combat tax evasion. they still offer golden passports. you won't believe how many countries around the list. check the market. this is a rally at 355 points. for all over it. back in a moment. ♪
11:22 am
stuart: a programming note. not the white house america member trish regan will interview president trump tonight on her new show, trish reagan prime time 8:00 p.m. eastern here on the fox business network, trish and the president. and now this. some countries are blocking efforts to combat tax evasion. these countries have been blacklisted for the so-called golden passport scheme. let's figure out how this works. a golden passport.
11:23 am
so why pay money to a foreign country. they give me a passport. i become a citizen and thereby avoid taxation in my home country. >> big business. create a second passport, second nationality, hide your asset, dump them into this country. how do you get the passport? you can invest in the sovereign wealth fund or create some sort of business, some sort of money exchange to get nationality. some of the bigger ones that have been mentioned cyprus is a big one, panama, a lot of caribbean countries are being targeted in this. the bottom line is nationality, am i saying that right? by nationality as a commodity these days. the island of malta gave away 700 citizenships. most were two russian, chinese, middle eastern origin.
11:24 am
they just have a a nationality, passport and they can hide their assets. >> it wouldn't work with us in america even if you got second country citizenship. you are taxed on your income in america or anywhere in the world. >> a u.s. passport you pay taxes for citizenship not just residency where as other countries like canada and the u.k. you pay for residency not citizenship. ashley: a growing number giving up u.s. passports as they don't want to pay the tax or were they living in the world. stuart: what i've got mine and i'm keeping it. a new high for the stock market. up 360 points. that ladies and gentlemen of the rally. right-hand side of the screen big tech of today. next we'll meet the man who says this is the time to buy back in to big tax.
11:25 am
11:26 am
that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company today to request this free, and very helpful, decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients?
11:27 am
i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs. oh, and happy birthday... or retirement... in advance.
11:29 am
of them, that looks like to me like verizon. only one of them is down. joining us now, entrepreneur preparing us of the program, are you sticking to your view that at the end of the year stocks will be higher than where they are now? >> i'm absolutely sticking to this point. the markets are positioned for strong rally. we will see volatility in the month of october. earnings coming in to what we tried so far for the third-quarter earnings generally down and if companies are missing on either profits or revenues we are seeing another 5% to 10% drop. the year-end will see a number of companies reported strong profits. the biggest issue may be the strong dollars overseas, but ultimately a bit market, big year. they have an opportunity to buy prices right now. stuart: talk to me about big type. it's come back a bit recently.
11:30 am
the attacks are certainly a today. you're telling us come and get in there and buy some more. you're telling us that? >> well, as we know, netflix which is many of the same stocks is coming out later on today. netflix is a prime example. up 73% year-to-date. profits have doubled -- quadrupled. they've gone up four times in the last two years. revenues have doubled in the last three years. these are strong companies. profits are very strong. in the case of netflix were the revenues have increased quite a bit and the profits have doubled quarter after quarter after quarter. we are not talking about year-over-year. september to december 2017 in march 62 million to 135 million. okay, so they dropped from 272 to 298.
11:31 am
the only went up 10% in the quarter. we can expect these companies to grow at astronomical rates forever. at some point they have to return to normalcy. they are still strong, still great profits. r&d growth over 30% for the stock for the last five years. profits are up, revenues the rapid growth rate is slowing down. >> you would agree to viewers listening to you, watching you right now, it takes a strong stomach to jump back in two stocks which a verdict on to the moon in the last couple years. >> right. to demand that they come back a little bit. in this case, netflix peaked to 418 on june 20th. currently 333. we see some of the key analysts at morgan stanley came out today from 480 to 450 paper in june struck from 445 to 400. a dozen analysts still think
11:32 am
it's going to be over 400. somebody's dropping from 48450 in the stock rises 333 and the company still growing strong particularly international streaming up an opportunity to die. ashley: virtua netflix. 30 seconds left. facebook, amazon, google, microsoft apple. are you buying any of them? >> i'm buying many of them. i know you and i've talked about microsoft in about microsoft and the about microsoft in the past about microsoft in the past. not much but a real company. amazon is a very strong company. it's not in their entrepreneurial but we do on one of her sons. in terms of our index be on the other stocks and were continuing to hold. we like them. we think year-end will be strong. stuart: microsoft is not an entre nous accompany your debt, son. that day. you may be back. thank you very much. we will watch netflix today. our next guest in town for a big
11:33 am
cybersecurity summit. he is the vice president of threat intelligence at ibm's security. he's on the set with me here. i've got a chance to go out you. >> absolutely. bring it on. stuart: we sit here day after day reporting on data breaches. virtually everyone in our audience has had all of personal information stolen somewhere around the globe. i've got no downside for this. nothing happened to me or my money yet. is it going to? >> the thing you have to keep in mind a cybercrime is up $445 billion industry. larger than the gdp of many nations like portugal as an example and it only continues to grow. what we found is one of the biggest challenges as we all see these -- inevitable is a company that experiences a devastating breach. not only do see a data loss, but you also see a damaged reputation of the company and in
11:34 am
many cases of automated hedge funds start trading on the stock. now it's not only the security crisis coming of a potential financial crisis. we step forward to train boards and executives how to do without. stuart: you are dealing at the company level. people like facebook and others who have lost information are not viable. nothing happens to it. they promise to fix it. nothing happens because nothing happens to them. >> i don't know if i agree to that. when you start to lose your data, health care data might be your financial records. that might be information about your travel, gps location, things like that. but that can be correlated and used in a variety of different ways. extortion, ran somewhere, fraud. i would challenge you on the notion that doesn't have an impact. in fact a devastating impact. not only do see that personally
11:35 am
if her identity was stolen but you'll see the cost of goods and services. >> we are told china and/or russia meddling in the forthcoming elections. that's got to do a cybersecurity. >> when i talk about cybersecurity in general, what we have to realize is most of what we've been talking about today is what you refer to. bad guy breaks into a system from a download set for money, profit or influence. what we worry about now it changes data. popular in the news right now is could they go in and manipulate an election. maybe that i would be hard to manipulate something like a voting machine. a likely scenario is that talk about what happen if the bad guy breaks into a financial records, supply chain because now not only have we lost data, we've broken trust in the system. what we have to think about his corporate executives regardless of where you're working is how
11:36 am
do i make sure my team is ready. we have the plants built, we understand what could happen and our responses muscle memory so that response happens quickly. it's much like a someone dropped on the floor in front of you having with their heart attack them in now is not the time to learn cpr. the worst day in a person's life. at the same time if your company is experiencing a devastating breach that's your worst day and we need to train you and make sure you're ready to respond in its not time to pull the book off the shelf. that was good. what we are trying to do is educating and what we are here within new york today is a cybersecurity range we put on the back of a semi truck. his travels around the world. much like you cpr.
11:37 am
stuart: three minutes, just like that. not quite a high of the day, but the rally were talking about. a 365 points as we speak. that is almost 1.5%. quite a comeback from last week. 25 sixes where we are. secretary of state pompeo in saudi arabia. he's had a meeting with the king and the very powerful crown prince. this comes as turkish authorities say they have found evidence that jamal khashoggi was killed in istanbul. david rubin, former mayor of shiloh and the author of the new book, trump and the jews. welcome to the program. >> thank you comes to her. stuart: far can it go?
11:38 am
it will not -- >> it is critical that it not disrupt that. president trump is the worlds leader. if something like that is problematic and they need to be very strong protest. however, into the interest of the free world. he has formulated a very delicate and important alliance between saudi arabia and the united states in response to the nuclear response in the iranian support for terrorism throughout the middle east and the world and that is something he can not disrupt because if he does, and
11:39 am
it's really not taking american interests into account. stuart: what about the 110 workers arms. which america proposed >> absolutely not. i'll tell you why. you don't want to disrupt the alliance against iran. you don't want to interrupt this arms sale of $110 billion. what should the response be if we find there is something in istanbul. what should the response be? >> a very strong diplomatic response. you're talking about two countries that have an alliance. you have to remember the united states has always had alliances with countries that don't share our values, they don't share the values of the united they not share the values of israel. in my book, and trump and the
11:40 am
jews, i've written about this quite a bit that there were times when he had to form relationships with people that are not to your liking perhaps. if you look at what happened in iran during the carter administration, and president carter basically put heavy, heavy pressure on him and sanctions in order to stop what he felt was oppression of the iranian people. we got the ayatollah khomeini is far more oppressive than the shy ever was. president obama put intense pressure on mubarak and we lost mubarak. >> don't desert your allies even though you can make a case. in this case saudi arabia. it's your message. >> make it clear what american values are. public after american interests.
11:41 am
stuart: david rubin, always a pleasure. i appreciate the book and the autograph. you've been watching the market. it's a rally, case closed. look at this. 1500 honduran migrants marching towards the u.s.-mexico border. they'll arrive right around election day. i want to know what are we going to do about that? i'm going to ask tom homan used to run ice. another promo live from the white house 9:00 a.m. to noon. we will be there with all kinds of people. check the markets again at 356 points. it is the rally and yes, we will be back. ♪
11:43 am
>> i'm nicole petallides with their fox business brief. federal judges to approve the final sediment with the sec with elon musk and tesla. the stock up 4% today after obvious stake in the private. the agreement also includes $20 million in fines each to be paid by elon musk and bypass it. the chairman role and add
11:44 am
independent direct nurse in the meantime will continue to tweet and will continue to battle those short-sellers. we want to keep you here tomorrow. "varney & company" will be at the white house live on the lawn from 9:00 a.m. to noon. stuart varney and a great cast. you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.
11:45 am
takes more than just investment advice. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org.
11:46 am
>> look at united health. nine dollars higher. that's the biggest gainer on the doubt and backing is a dow stock at 70 points to the overall average. why is it up so much when he gave a rosy forecast? up she goes. a caravan of more than 1500 migrants from honduras growing all the time. it's on its way to the u.s.-mexico border. as of right now president trump has been treating about it. the united states has strongly informed the president of honduras that if a large caravan of people heading into the u.s. is not stopped and brought back to honduras, no more money or it will be given to honduras effective immediately. former act in direct your comments homan with us now. what are we going to do because they're going to arrive around election day. what happens? >> a couple things we can do. first of all, high-level officials in the united states
11:47 am
need to talk to high-level official mexico and tell them to stop him on the southern border. people from central america cannot cross without a transit visa. mexico needs to turn around on the southern border unless you want to claim this time in mexico that's fine. the president also with the secretary says that worked. decreased by over 20%. they can close the loophole in immigration system. they give more money they're going to get release. we can get to the united states and be detained. stuart: you know what's going to happen as they did to the u.s.-mexico border. the democrats are going to say you've got elected men. this is a humanitarian crisis.
11:48 am
women and children they are in need, let the man, do the right thing. that's although they said. you can make that argument and it's not a bad argument. we are a humanitarian country after all but that argument will be made in a may be strong enough to them in. >> here's the stone cold facts. 80% of these claims when they get to immigration court, 80% of his cases because they can't prove their case. this is a group of people and i'm not saying everyone of these are committing fraud. the vast majority of people are taking advantage of thresholds of the system to get to the united states to rejoin their spouses. there is some escaping fear, that many more committing fraud and 80% losing their cases as a data point people need to understand. stuart: the president says he honduras, turn them around or there's no more money. >> i'm glad he's during the compliment down on this. i said in a previous show when it comes to border security and
11:49 am
public safety he's a warrior and i appreciate him doing everything he can. american countries give billions of dollars a year from illegal aliens in this country so we've got to make sure whatever penalty it outdoes remittances from these people being here. they want their nationals in the united states because it's a big part of their economy. stuart: thank you for joining us. i'm cutting it short because it's such a big news day. always appreciate you being here. stuart: this is for ash. possible shortage because of extreme weather. tell us. ashley: important research done at the university -- of course it was british. they will hamper the main ingredient. we could ultimately see a 16%
11:50 am
reduction in consumption and beer prices doubling. >> and the beer shortage or global warming? stuart: doubling the prices. >> is going down anyways, there wasn't any commercial. it was all bourbon and hard liquor. it wasn't so much beer, which no one else are ignoring as well. the trump administration considering new rule to protest outside the white house. would that be limiting free speech? were going to ask the question. you can check the markets. not quite tired today but were up there. 360 points. 1.5%. will be back. ♪
11:52 am
comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible.
11:54 am
11:55 am
andy would prohibit music singing, the first amendment to petition you can't come on the ground. you can stand outside and say anything that's not threatening. music is a protected form of protection. where this nonsense about music is not permitted within an earshot of the white house comes from is beyond me. stuart: abe home box or a very loud machine. >> music is interfering with what is going on inside the building. obviously the volume can be turned down. this prohibits all music outside the white house. they want to create freedom of speech zones. you know what a free speech zone
11:56 am
is? the whole united states of america. and you probably agree. stuart: judge napolitano is opposed to this. >> expresses the opinions the queen did not want to hear. stuart: you don't protest the queen. >> used to it outside of whitehall. stuart: if you demonstrate with and i think half a mile of parliament, you may not wear a mask. i think that's a good idea. >> police wear masks. why can't we? >> we have a first amendment that protects the right to petition for redress of grievances and the government should be in the business of protecting that right. they won't take and oath to
11:57 am
uphold it. instead they are research unit. >> wrong again. >> i will see you from here in your moment of glory tomorrow. front lawn of the president, which -- stuart: no comment except to say there will be more "varney" after this. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering seven things every medicare supplement should have. it's yours free just for calling the number on your screen. and when you call, a knowledgeable licensed agent-producer can answer any
11:58 am
questions you have and help you choose the plan that's right for you. the call is free and there's no obligation. you see, medicare covers only about 80 . . insurance plans, like those offered by humana. they're designed to help you save money and pay some of the costs medicare doesn't. depending on the medicare supplement plan you select, you could have no deductibles or co-payments for doctor visits, hospital stays, emergency care and more. you can keep the doctors you have now, ones you know and trust, with no referrals needed. plus you can get medical care anywhere in the country, even when you're travelling. with humana, you get a competitive monthly premium and personalized service from a healthcare partner working to make healthcare simpler and easier for you. you can choose from a wide range of standardized plans. each one is designed to work seamlessly with medicare and help save you money. so how do you find the
11:59 am
plan that's right for you, one that fits your needs and your budget? call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free and there's no obligation. you know medicare won't cover all your medical costs, so call now and see why a medicare supplement plan from a company like humana, just might be the answer. stuart: did i tell you that this time tomorrow we'll be broadcasting from the white house? >> really? no. stuart: i'm sure i told you every now and again in the last three hours. yes, i will repeat it, why not. it's a big deal. 9:00 eastern time tomorrow morning we'll be fronts up, on the white house lawn interviewing all kinds of people within the administration and
12:00 pm
who knows who might just drop in. come a long way, haven't we. ashley: open invitation. put it that way. stuart: there is an open invitation, that is a fact. all right, everyone, my time is up. we'll see you tomorrow at 9:00 from the white house. neil it is yours. neil: so you're going to be at the white house tomorrow? this is the first i'm hearing of it. where are you going to be? where are you going to be? stuart: i can't hear you. i missed it. i know it was a gem. neil: live from the white house. what he can't hear we're live from red lobster. take a look where we stand right now. no selling where we are right now. a lot buoyed by the strong earnings, people were hoping and waiting for, a host of them, unexpectedly good news on the job front. job openings, eclipsing 7.13 million in the month of august, far stronger than most
132 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on