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tv   Varney Company  FOX Business  November 26, 2018 9:00am-12:00pm EST

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aunt who makes you watch first wives club like for the 8th time kind of seen it, been there done that. that's why people are in stores on black friday. >> with minimum wage and tweeted many times. have a great day everybody thanks for joining us. stuart is up next 25eubg it away. >> good morning maria, good morning everyone. one word, rebound. one question, will it last? well, it definitely is a bounce after last week horror show and go up a solid 200 points at the morning close. we were at 24,200 last friday. we'll be above that today. you've got to love nasdaq, home with techs moving back up today a gain of 100 points. president trump meets xi jinping this week there's optimism overren china trade that's helping market this morning and so does this -- price of gas tumbling that puts money in your pocket right
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before holidays 255 is national average down 47 days in a row cheapest gas, missouri, where the average place is just 217 a gallon buck 99 and six or seven states. yes, this is the so-called cybermonday. the big day for online sales, terrific start friday. with a 23% gain in online sales. in a moment we'll bring you a forecast of an absolute blowout year for holiday sales it is coming. brick-and-mortar a poor black friday weak at the malls and sales down from yesterday's black friday but -- that may have something to do with this -- bad weather a blizzard will keep you on the couch and it hit some parts of the country over weekend not over. you have to feel for travelers millions having a tough time getting home. we feel for you in a moment you will see migrants storming the border. and you'll hear what the president has to say about that.
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"varney & company" sb to begin. ♪ this tweet from president trump first thing this morning tweeting on the migrant caravan i'll read it for you. mexico should move the flag e waving migrants many of whom are stone-cold criminals back to their countries do it by plane, by bus any way you want but not coming into the usa we will close border perm nantly if need be. congress fund the wall. back drop is this is the migrant rushing border. >> more than 5,000 new in border city of tijuana people there said detentions were rising and bubbled over eventually hundreds of migrants make a run for border. border patrol agents respond bachelor'sed by hit by projectiles where they
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came from they believe migrants so they responded that rush to the border some trying to climb over the fence was repelled they went back to groups in tijuana now effort underway between u.s. and mexico to come to agreement where mexico agreeses to keep these migrants on mexican soil while -- bit by bit these migrants are offer ad a -- a put through process of applying for asylum. but the key to that is keeping them on mexican soil. >> right the they did not process. they did not get into america. over the week. ivelgt propelled thanks ash. we'll update that later. let's do with cybermonday shall we? because that's what it is today. jeff flock with amazon fulfillment center outside chicago tell me jeff i think the weather is a problem for you guys, isn't it? >> i'll tell you stuart i had plan to be inside this warm fulfillment center here thousands of workers filling orders on this cybermonday but look what's happened. snow has knocked out the the
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power to this facility at 2 a.m. an now the amazon trucks backed up here in the the snow if we walk down maybe you see how big this place is is. can you make it down there you see how big trucks are now backing up because there's nobody to load or unload without power on the inside look at massive facility. as we said 2,000 workers are in there they can't work right now. so you can buy all you want online today. but at this particular facility, i don't think you're going get it -- you know in that two-hour deal on amazon whatever the heck that deal is. >> thank you very much jeff flock great way to start cybermonday. telling us the truth we luke that. we'll be back to you later thanks jeff. let me go to overall holiday shopping. economist brian west bury is with us now i read his stuff he says, this is going to be the best holiday shopping season in over a decade. so give me a number.
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how big an increase? >> over 6% growth from a year ago. and you know, the economy as a whole when you add up real growth plus inflation is only been growing about 4.5 to 5% so we're seeing an acceleration in economic growth and it is really being driven by this christmas shopping season. >> i'm going to call a% increase that is is an absolute blowout i can't remember like i've been in america 40 odd years i can't remember a 6% gain for the holiday period before. have we seen it before? >> we have. if you go back far enough a lot of it, though, when we have those was due to inflation. there's a lot of this -- is due to real growth. i mean, prices are up. so there's a little bit of inflation adding to this. but most of this is real growth. the economy in the -- real terms retail sales are growing somewhere between 3 and 4% right now. a lot of that is driven by
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online shopping as we know from the weekend data. but really what's happening is, we have a tax cut that is in place. we have deregulation that's in police place and as you talked about this morning a number of times low gas prices that's -- for consumers too. prchls briep, i got to -- look maybe i have to be in my bonnet about this but gas price at.55 falling rapidly. that to me is a huge shot in the arm. that's the biggest single factor in holiday shopping am i going overboard on this? >> i don't know about that biggest single. i think that it's a -- definitely a huge positive this is one that we don't hear about. we when oil prices go up how bad that is for people nobody is talking other than you stuart about how low gas prices are helping kiewrls. everybody is focused on whether this is a big sign for the economy or not. it is actually a good sign, and
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i think the way you've described it is exactly right. fracking is changing entire landscape for energy it is going to hold energy price down for years to come. and we're seeing the benefits especially right now because rest of the globe is slowing. flesh and i think there's a reason for that. we've cut our corporate tax rates. we've put up tariffs on other countries. and this takes away a stimulus for these other countries. and if they don't cut their taxes, and if they don't cut their tariffs, they're going to -- continue to grow slow. so -- bottom line is -- >> i want you on this show every monday morning. okay this is a wonderful l way to start out a financial show and you've done it for us. mr. west bury you're all right we'll see you again soon. >> stuart good to see you. i'll take it. to politics president trump is heading to mississippi later today. going to campaign for gop senate candidate cindy high smith runoff election tuesday, she goes up against democrat
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opponent mike high smith has made what some consider racist statements as a result from donors like wal-mart, with major league baseball, they want their money back. joining us now laura trump advisor with trump 2020 a place to have you on the the show. >> thanks for having me. >> how does the candidate and your father-in-law deal with this -- this idea of race arism on part of republican candidate? >> well first of all this is nothing new. the democrats always scream racism at a republican contender in any field across the country so this is nothing new. listen, cindy smith apologized for remarks i think you actually watch the way it happened, i think a lot was taken out of context and really blown up out of proportion. so yeah, i think it's a little bit more made out of this than there was. >> what about humanitarian side of the action at the border? your father-in-law says look they're not coming into america period they're very, very hardline there. the counterargument is, we are
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humanitarian society, we take -- we help people. >> we do. what do you say to that side of the argument? you counter it? >> it is tough. nobody wants to see women and children being, you know, stopped at the border we want to see them come into our country and give them asylum if they really are in danger but reality is people have to go about this the right way with you cannot run across border and completely ignore our laws and say we're going to break the law from day one coming into the united states of america we are a country of immigrants. we with love immigrants you understand that better than anyone. >>ed i do. >> but it has to be don't proper way and the president has been left a mess and dealt with it the best way possible. the democrats if they wanted to work with him only immigration but they haven't. >> mr. trump offered a deal -- build the wall or you'll get ka the dreamer they can stay but you have to build the wall but they wouldn't have it. >> that's because this is all
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just -- about politics and then they don't really care about the people coming into this country. >> they don't want a solution that's my opinion. don't let me leave you here. people in chaos people upset in uproar so that way people are motivated to vote make no mistake about it they want people coming in because those are new voters for democrats coming over border so -- s it'sen interesting situation i think that president is doing a great job. >> what really annoys me and i'll send this out to lauren is the mixup between illegal immigrants and legal immigrants. >> absolutely. america is always thrive on legal immigrants it is illegal we want to keep out. or bring them in properly. you have to do it -- >>s make no distinction between two and i don't like it. >> it is not right i think anyone you talk to look i have a cousin married to a man from canada it took them process to become legal citizen of the united states of america with so long and so drawn out he more than anyone you more than anyone
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people to do it legally want to see it done right way because it is not right or fair to people and not the way the country was built. >> last time you were on the show last you did before you gave birth to your child. how is your youngster doing? rming he's grate his name is luke 14 months old so too long since i was last on here but he's wonderful so i promise i'll come back again before i'm eight months pregnant. [laughter] >> please do. absolutely. lauren strong what a pleasure. >> funny. you better check futures because it is looking good this monday morning. 250 points for the dow industrials close to 100 for the nasdaq. president trump as you heard -- threaten to shut southern border down, is this the right thing snood i'll ask our border patrol guy, that question. cryptocurrency wow, are they in collapse mode or what? is bitcoin is below 4,000 bucks so why did overstock.com get out of retail and into cryptocurrencies?
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they're doing it. we'll have the ceo in the next hour. holiday travel headache -- millions in the midwest slammed with snowage ice we'll tell you who got hit and where and we'll be back.
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as we've been telling you we have a stock market rebound of sorts this monday morning what's the price of gold doing when had stocks are up, not much is the answer. up a buck 70 per ounce at 12.24 it is a genuine travel nightmare to tell you about. snowstorm really slamming chicago, we're going to give that to liz for dlings. details. >> we have news coming in i hope i do janice dean some respect here 10 million under blarng blizzard warning and in the area, more than 1700 flights canceled. more than 5,000 delayed. this storm is headed our way as early as tomorrow. >> in new york -- new england possibly through new
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york plummeting temperatures a foot and a half snow in kansas. illinois, about wisconsin, they're talking black ice, fears and conditions on the i-80 other highways in that region 55 miles per hour winds noted ins kansas as well. >> i would call that bad news for travelers and very good news for online sellers. >> that was record travel for the season. >> right. the catch. all right. google -- revealed plans i can't believe this revealed plans to monitor our moods, movement and our children's behavior at home what do you think about that? joining us tech investor bradley husk. i think they've gone too far this is so much big brother, what do you make of this? >> i think what google doesn't understand is that world has changed and turned there was a time when google could say don't be evil we would laugh and smile say that google they're so great but i see people don't have that kind of confidence in a company like google, to look out for our best interest for our privacy. for consumers, and so i think
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what google has to understand is -- we live in a different world now if they have products like this they can't assume that everyone will say oh it is google they must mean we should go along with it they have to explain. here's what it doesn't do. i don't think they do. i don't think they do. i don't think facebook does or twitter does. i'm not really sure how it is possible for companies to get this much bad on a basis, and still not be able to realize how much the wall has changed. >> google stock premarket up 13 at 1,043 maybe so. that could be the the conclusion realsistically. you have more none you can spend at some point you care about your reputation and how people think of you and what you're doing to world it just can't be the share price. >> on to facebook a familiar story here e-mails from mark zuckerberg over data sharing
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scandal ceased by british parliament that released for all to see. that puts them -- doesn't that mean that facebook has to be facing harsh regulation? >> yeah. absolutely. i think more importantly facebook is fighting or the the release of these e-mails making same mistake over and over again trying to hide things think if they're in their way out of this the the right way or spend right amount of money on same thing everything will be fine. it's not fine. facebook is lost people trust and every time they try to keep covering things up they make problem worse and that brings along harsher regulation. >> you managed manipulate manage a very difficult situation for über got them into new york city. that was a complex negotiating process you were the guy who pushed them in. what advice would you give to zuckerberg facebook and larry and google, if you fire departmented to straighten them out? >> a, they're not startup b
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world has changed things through 2011 or 2014 wouldn't necessarily work today. what they have to understand is -- that people don't trust them nearly as much regulators don't trust them nearly as much. media doesn't and they have to be more open and transparent about what they get right and what they get wrong an they don't have to pretend to be pest better off if they admitted here's what we understand about our product and not, and here is what we work with regulator academic media to try to solve problems. if you're facebook you have people on your platform, of course, you can't tell what they're all going to do? 2.2 billion people and try to pretend what you can and cover it up every turns out that you can be honest it be. a lot of ways i think they -- understand that people are smarter than they give credit for they would be better off. >> see if they do that. [laughter] >> short that i would. it was a pleasure having you back. thank you, stu bradley i apologize. >> where did i get daniel wrong?
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you know a -- >> my parents were thinking about daniel -- [laughter] they switch and probably never told you. >> you're all right. thanks for being with us. stuart check futures. we're still up a couple of hundred points for the dow an nearly 100 for nasdaq. violence erupts from paris. police use tear gas water cannon to control crowds they were outraged over a new rising fuel tax. details coming up for you. ♪ there's no place like home ♪
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argh! i'm trying... ♪ yippiekiyay. ♪ mom. ♪
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fuel protest in france look at that. police firing tear gas using water cannon so any question ash is -- is president macron in trouble? >> unrest and french economy is really ling unpliment and high people are working or having a hard time making ends meet. this is just kind of boiling over. that sentiment this is about a rise in fuel taxes on diesel you see these guys and yellow shirt yellow vests those are truck drivers. but this was not just on the all over france but a lot of frustration. macron is in a lot of trouble domestically on both sides of the aisle. >> yep. >> now price of gas is going up as well as well as diesel you know what price of gas in french is right now?
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>> in england over 7 a gallon right now. 7 and 6 cents gone in france as we speak and going up 2.50 they'reup i want to get to big tech members of parliament in britain urged boycott of google and facebook over terrorists content. >> you know intelligence and security committee they're saying listen, the chin wag about social responsibility not working instead this report new report recommends boycott. do advertising for boycott they're talking about boycott in facebook, twitter and google especially youtube. the manchester concert bombing also the london bridge and westminster attacks, those terrorists reportedly were radicalized online. and so these -- companies like uni lever are shown next to radicalizing extremists online these kinds of videos and content. so you know how do you stop it? in the british parliament are
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saying boycott, and -- >> well, about storm clouds are gathering. well dow will open with a 200 point gain and nasdaq is going to be up about 100. nice rally we'll be back. the day after chemo might mean a trip back to
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cybermonday. and it follows a awful week for stock last week. the dow closed out friday at 24,2 heart attack. we are going to see a rally today certainly the ohming bell. the question is, will it hold? is it a genuine bounce or part of the normal behavior in bare market we'll see. 9:30 here we go 9:30 up running and up 78 up 106 up 112 we're up 124. 137, i see a lot of green in the dow 30 not all of them have opened yet but up 137 as we speak. that's a gain of about just over 1.5 percentage point 170 on upside 165 okay let's call it a gain of two-thirds of one percent that's the dow. s&p 500 where is that this monday morning? it is up a bit better than that. .83% 21 points higher. now here's the interesting thing to me, the nasdaq this is where the technology stocks are
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located, so to speak, that is up one and quarter percent that is a major comeback. it is back above 7,000 level precisely one and quarter percent higher. joining me now jeff seeger ray, elizabeth macdonald and ashley webster let's start with retail because this is cybermonday and follows black friday last week adobe says that a record 6 billion was spent online. that was black friday and this is cybermonday. they're expecting largest online shopping day in history. ray, this you like everything. you like all technology stocks. i take it that this kind of proves your point. >> it is right these are great platform we see like if you think about it 2 billion immobile order this is year an see about 8 billion is estimate for what's going to happen on cybermonday so anything that has a big platform or social network they're in a really good position so you're thinking about large places where you see commerce and network economies come up. >> okay.
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jeff -- you've been cautious for some time all way through october and november. you were cautious. well now we have a bounce up 100, 200 points as we speak is this for real or would you be cautious? >> not a dog chasing parked car i think technology is 20 to 30% overvalued. i think a market that has been focused on five stocks is not a market to be trusted although i do think technology is the leaders. i think that there was a lot of people there were a stock buyback with a lot of people buying because of being afraid of missing out. that trade is still overcrowded. >> so you're telling our viewers who may want to get back into big tech you said don't do it right now. i would say it is not the time to get back into big tech still a lot of fillers out there. >> ray, you like all of the big techs i'm going to keep them on screen, alphabet microsoft which
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one of the five is best bet at this point? >> i think we're going to see a lot from amazon i agree, though. i wouldn't buy until a little bit after the holiday season. i think you're going to see some of that allocation change in terms of where people are rotating through but you see amazon clobbering in majority going forward plus they have cloud conference coming in and fueling profits allowing them to invest into reare tail expansion so ting that's -- probably netflix we're seeing subscriber growth to be surprised at as well. >> okay we have two differing opinions right there. i can tell that up physical points as we speak. that's -- the best part of a 1% gain. can you show me that nasdaq again interested in that because i believe that is up -- close to 1.5 points. one and quarter percent still up at that point. okay let me see -- the broader market again you're
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still cautious there. okay, let me -- move up a little bit here. look at -- okay back to big tech keep going please i want to see some more stocks on screen and see that is that bounceback e can we hold it that's the the question -- >> stop raisings rates in december and china trade dispute changed? >> do you think this market is propelled by optimism over china trade xi meets trump this week. >> optimism over china trade optimism powell may be slowing down. optimism over reare tail sales but i think the optimism is a little bit overdone. i think people who are wait for a pullback this is not it. >> we've got -- there's a dow winners microsoft -- cisco, nike, apple visa they're all nicely high. much better than 1% except for apple that's where leadership is at the moment those are dow win withers, and right now we keep on -- pressing higher.
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the dow industrials 4, 5 minutes into session and now we're up 250 points that's 1.5% better than 1%. don't forget it. bitcoin if i use the word collapse i don't think i'm being too strong we're down to 3,700 per coin. do you think that has what are you laughing at? that's true. do you think there is any fallout for rest the market when bitcoin i mean people are losing their shirts in crypto. >> i was on your show when it hit high and everyone was buying bitcoin i think what people are worried about is now bitcoin is going to become a regular, regulated security and everybody was hoping that this could be the flight to safety from the market and it is proving to not be that. so i think this speculation is out of bitcoin but i've said it before, cryptocurrency is real. it will eventually start to take
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hold and we have to be aware that there may be a point to reenter this or some other type of cryptocurrency with a change in paradigm. >> you're making it into an investigationment opposed to a different mean -- to exchange. we've got dollars already, do we with need bit -- >> on block chain technology -- the problem is people don't trust governments they don't trust the -- central banks that print currency. that was the original trade and if that's in jeopardy preem not going to be willing to buy -- if that converts back, like liz said i think we're going see a big move up in currency. >> i have to believe that the strength of black friday retail sales cybermonday reare tail sales have to believe that's got something to do with the disa dow industrials, a positive thing with low income shopper out in force too. wal-mart is reporting. >> low income shoppers interesting. i think you're right too by the way. where's price of oil this morning?
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it plunged again friday. well it is up okay 2.5%. but it is still at 51 dollars per barrel. that means the price of gas is going to continue to come down look at it now. as of today aaa saying national average 255 down 47 days in row that's a tax cut the jeff. here's the problem. i agree low gas prices are fantastic yeah. they are. but a year ago they were up the same price before right when tax cuts were initiated that it was the same price that it is -- that it is today so i don't think it is an additional tax cut. i think that's a little overly optimistic. but i do -- i do think it is good. i think it is good let make that perfectly clear. [laughter] >> thank you very much indeed. i like $2 gas thank you very much indeed. i don't live in california. never will. bombshell admission from elon muck admitted that tesla almost died earlier this year. all right, ray, you like almost all technology.
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do you like buying tesla at 3.28 as it is now? >> well they have a rebound back what we're going to see is that 775 tax credit ends in '24 question is what happens after that tax credit can they buy at the 50,000 range per car and i think the answer is yes people are actually enamored by car an seeing good stuff coming from not just production numbers but elon musk order i think question is he's taking it to the edge he's done that in every single one of his releases from the model s all the way until model three. >> talking about taking it to the edge he says singles weeks -- meaning nine weeks or less away from collapse. and away from -- but it could be collapse or is it -- going into equity market or credit market borrowing? i don't know if it is reals collapse or just borrow money or raise some stock -- >> the problem i have with this is -- while this is happen he's not
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being upfront with investors with shareholders he's not being upfront with media he's say that everything is relatively good. he's giving little warnings but he's not coming out and saying things are as bad as they are so we really. problem is he spends seven days week at that plant. he did. a warning enough -- and tell markets that it is problematic. making it very leer to world that he's martyr he works 20 hours day. 7 dayses a week and -- in trouble. wanting the sympathy so trouble they were in. >> yeah but i think, i think fact that the stock has been able to stay up here, is is -- is baffling to me because this stock does -- >> tweeting about it. [laughter] real fast, at&t and another big tv district tore refund customers fade to watch that tiger woods mickelson showdown. at any time bundled streaming i thought there was a disaster for streaming business. what do you say?
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>> you get one shot at this, and they blow it. at&t should hide under a -- in a closet because they blew it. they had a chance to do something really great, i had people at my house complaining and -- nonstop kind of ruined the day because everybody was upset. it ruined your day. well -- short that stock. [laughter] >> they should have got it right with one shot. one shot. they blew it. >> i'm sorry, ray, i'm sorry i didn't get you back in very much. i apologize for that didn't mean to leave you out in the cold but i have to say good-bye to you now 9:40 thank you. as for you jeff you're all right. see you later. >> i do believe this is high of the day we're up 272 points. better than 1% gain. we'll take it. gas prices as we keep telling you i love this down 47 strailgt days. i want to know if we've hit bottom. i don't think so i'll ask former president to shell oil that question, see what he has to say.
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chinese scientist says he succeeded in creating edited babies -- we'll tell you all about it, not sure i like that. a 236% increase in retail sales for the holiday period. that is prediction one of our guests told us earlier wow, 6% we have a retail guy on the show we'll ask him about that, 6% that will be a blowout. next.
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this is what you want to see on monday morning following a rotten week we're up 308 points that is one and quarter percent
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and rising. 24,000 almost 600 is where we are. that's the the session high for the dow. a general motors i'm sorry their reports they're about to cancel production of 6 cars. including the plug-in electric chevy volt. up nearly 2%. campbell soup try to revive its business come in suzanne lee at the exchange made a deal with investor group. >> this is live and daniel a third point capital he wanted to replace the entire board and sell to company because campbell sowp about that been doing bad 15% on this year in 2018 but struck a deal now with with campbell soup so he'll be able to nominate two new board members with a say in picking new ceo expected by end this have year. they are teaming up with an air to campbell soup fortune that they hold a 10%. but you know, they were up against a 41% majority stakes from the the rest of the airs
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the campbell soup back to you. >> we will be back to you. anti-amy dison protests planned in -- new york city, now what's that about? >> left wing group eastern standard time in long island city where new headquarters will be. they don't like corporate tax breaks for amazon given to amazon for new headquarters. they also don't like amazon cloud servicing i.c.e. and homeland security detaining illegal immigrants they're getting creative with their songs they have a prepare are song book and bezos your heart is made the of clay. and you know, 12 day of christmas amazon gets bankrupt mta blah -- >> should have sang that. i murder silence when i sing. i sing like a hinge. >> thank you, with liz. adobe sets a record 6 billion spent online by end of black friday. cybermonday is today, of course. it is expected to be largest online shopping day in american
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history. retail watch per burt with us now. earlier on show one of our guests said holiday retail sales season will be absolute blowout up 6% from last year. what's your number? >> between 3.5% to 4% all time record if stock market comes back, and oil market comes back. we'll be between 5 to 6. so there are couple of variables we could hit six but all time record of 1 trillion close to 4% increase. >> we'll take that 4 sct is a very good number. tell me about macy's because i think that is your standout of the brick-and-mortar retailers. you really are think they're standouts? >> stand out stuart team across the country never saw anything like it. maceyings opened early and thanksgiving day parade sustain momentum from midnight until 6 a.m. -- people buying big red starring baas out of macy's. all through black friday and
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into yesterday too. and his team which -- darlene hand website store opt, twin towers of power, with aaron sloan ashley glazer holiday lane selling out of christmas stuff, on thanksgiving week. brick-and-mortar -- this is not online this is in the store. >> in the stores, and they're going to be a dominant toy retailer bringing in aing lego e and learning gails so that 10 billion from toys"r"us is up for tbrabs macy's could get at one of the three biggest parts. >> how about amazon this is so-called cybermonday. okay i got that. how big is it for amazon? >> cybermonday will be about 8 billion amazon could be half of that stuart but to put in -- comparison to your good points on macy's amazon sales growth in upcoming year could be double or triple of all macy's and combined maceys bloomingdale.
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and macy's.com, last call backstage, so the growth rate of sales upon amazon is triple that of the brick-and-mortar macy's -- >> could be double potentially triple if you include all of amazon and versus macy's -- so in term of cybermonday to your point, about singles day in china 30.8. amazon could do that once or twice in the u.s. in addition to cybermonday in addition to prime day, and just blow out a big piece of retail that they haven't blown out already. >> all right well there's a statement for monday morning we'll take it. burt thank you so much. appreciate it. big day checking markets, we're up 317 points. how about that? high of the day one and one-third percent in 29 of the dow 30 are are in the green. only one of them j&j slightly lower. run away entitlement spending is driving up our debt to crisis levels that's what our next
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guest says he's here to make his case and what we might do about it. we'll be back.
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had is the almost the high of the day. we're up 337 points now. that's a 1.39% gain that's a
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solid reare bound at least in the early going today. next case, politics, our guest says run away entitlement spending is driving up our debt to crisis levels. former bush 43 staffer, brad blakeman is with us. okay, brad i think we know this. i think you're quite right but we know it. but i don't think there's anything you can do about reigning in entitlement spending it is the third rail of american plucks. right? >> you're absolute right there's no will but i made up a new english words that's what we are in america we live for the the moment at the expense of the future we cannot continue the kind of spending for -- unfunded entitlements. social security we too few peope paying in and paying too much what can we do about medicaid we have to curb cost we have an aging population on medicare. we cannot continue this course what's going to take tough love.
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we have to reign in cost of medical care. but the votes are not there. any politician i don't care whether you're republican or democrat or socialist whatever you stand up and say medicare for all. no cuts in entitlements at all you know, you're going to win. if you suggest any kind of cuts to entitlements you're going to lose. >> i think it is time for some leadership and time for statesmen and women to stand pup to understand that -- we are mortgaging our future. we cannot continue on this course. look, we don't even have a handle on our existing spending on -- yearly budgets 12 trillion dollars. our unfunded liabilities pail in comparison to what our debt is today is you're right stuart we need some leadership. and whether it is republican or democrat i don't care who he is we need to get a handle on it and do it together we have to when we have leverage 6 of a good economy we have a great
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economy now is the time to fix it. is trump the one to do it and couldn't touch social security or medicare. >> i think it is leader to do it and i think he can do it with some bipartisan help and understand that these are -- these are i think this is that can be solved in a curb over time these are going to transcend his presidency but in right path for future president to continue that course. >> i think you're right we need leadership and i think we have to get a reign a handle on entitlement but i don't see who can do it when and how i don't see it. we have to make it a test for 2020. >> okay. okay fair enough. brad blake see again soon all right wal-mart, target best buy getting tough on credit card scammers now this is new to me. ash. >> capping how much money can be loaded on to these gift cards purchase limits on single transaction and scammers out there big scam right now is in the targeting all of the people
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is that scammers will say they're from the irs and you owe back taxes best way to get me a gift and you can pay through a gift card clearly bogus. but -- scammers love gift cards. they're basically god as cash you can res main basically anonymous. but bottom line is, the stores rye to cut back on it but give the card scams are up since 2015. so by the way, itunes is most popular gift card for scammers. >> really go figure that. go figure. the democrat senator from hawaii has said something way over the line in my opinion. he says u.s. may have violated international agreements on chemical weapons. you have to hear this. my take at the top of the hour coming up. non-small cell lung cancer made me think of all the things that i wanted to teach my kids. (avo) another tru story with keytruda.
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(roger) my doctor said i could start on keytruda so i did. with each scan things just got better. . . ...who test positive for pd-l1 and whose tumors do not have an abnormal "egfr" or "alk" gene. it's the immunotherapy with the most fda-approved uses for advanced lung cancer. keytruda can cause your immune system to attack normal organs and tissues in your body and affect how they work. this can happen anytime during or after treatment and may be severe and lead to death. see your doctor right away if you experience new or worsening cough, chest pain, shortness of breath, diarrhea, severe stomach pain or tenderness, nausea or vomiting, rapid heartbeat, constipation, changes in urine, changes in eyesight, muscle pain or weakness, joint pain, confusion or memory problems, fever, rash, itching or flushing, as this may keep these problems from becoming more serious. these are not all the possible side effects of keytruda. tell your doctor about all your medical conditions including immune system problems, or if you've had
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an organ transplant or lung, breathing, or liver problems. (roger ) before i'd think of the stuff i might miss. but now with keytruda, we have hope. (avo) living longer is possible. it's tru. keytruda, from merck. ask your doctor about keytruda.
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stuart: in a desperate attempt to make the president look bad the democrat senator from hawaii as they say, jumped shark.
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that is he said something way over the line. he says, the u.s. may have violated international agreements on chemical weapons. why? because tear gas was used on migrants who rushed the border. he has linked america and trump to sarin gas and chlorine glass. that is ridiculous. the senator knew it. his tweet with the chemical weapons reference was taken down within an hour. too late. we know all too well where the left is coming from. policies like sanctuary cities, sanctuary states, that encourages the emptying out of central america. confrontation at the border was almost inevitable. some argue that there is a faction on the left that actually wanted to make america look inhuman. and now with those migrants rushing the border what is their policy? due process? let them in. let them claim asylum, above all, stop the wall. it is just gaming the broken
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system and stopping a resolution to the long-running border problem. they don't want a solution. fortunately we have a president who ran on immigration reform and is holding his strong line. here is his tweet this morning. look at the closing lines, please. they are not coming into the u.s. we will close the border permanently if need be. congress, fund the wall. he is doing what he said he would do, and senator schatz has reduced the democrats to shark jumping. the second hour of hour of "varney & company" is about to begin. ♪ stuart: it is the holiday season. it has arrived. looking at the capitol building. the capitol hill christmas tree arrived. it comes from the national forest in oregon.
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the capital hill christmas tree has been a tradition since 1964. it will be lit by speaker ryan on wednesday the december the 5th. before he hands over the gavel. this is the high of the day. we're up 363 points. that is 1 1/2%. nice solid gain after last week's debacle. check retailers. there was a record online shopping, 6 billion spent, up 23% from last year. take a look at amazon, adobe analytics they track online shopping, they say they will spend another 7.8 billion online today. amazon may take about half of the cyber monday retail sales. that is a commanding position i have got to say. i want to talk about the market rally, come on in, keith fitz. a rough month november, october, do you think the worst is over? unfortunately stuart i wish i could tell you the answer is
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question, yes is will be clear sailing but the answer is no. what we're seeing is classic bear market behavior. markets moving up big on not much news. stuart: great to have you on the show of the we like an honest viewpoint. tell us, are you buying anything? >> i'm holding firm on big tech, because i think the final clean-out has yet to come but it will be. i'm interested in companies like boeing and american water works. they are about the stability return of my money as opposed to return on my money. stuart: you're talking in trader terms. what would you buy for the long term? anything? >> both are long-term holds in my book. they pay hefty dividends. boeing is going to be back. water works is getting expensive but held up in conditions like this. i want to get back into big tech desperately. that is where the future is. it will return to the leadership
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role, just not yet. stuart: black friday, online sales six billion. today, cyber monday, maybe seven or eight billion but that's nothing compared to alibaba's singles day a couple weeks ago when they brought in 30 bill. so do you like alibaba? >> well i like alibaba and amazon both. this is the interesting thing, you've got to make a bet when you're talking about these companies not only in terms of the u.s. retail consumer but the global consumer. they did at alibaba in five minutes what amazon will do in a day and that really is shocking to a lot of people but still you have got to have both. great companies. a lot of pent-up purchasing power. consumer will drive. stuart: full disclosure last week, i did buy some of alibaba. >> good for you. stuart: let's see how they go. gas prices still plunging, keith, the national average is down to 2.55. i see that as a huge plus for
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the economy and the market. do you? >> absolutely, stuart. you know, personally i like it because i have a number before vehicles. i'm a gearhead. i like the low-priced gas because i can drive farther but it will mean more money into consumer's pockets. that translates into great spending which is 70% of our economy. stuart: do you own a tesla. i don't know whether you do or not because elon musk said in an interview his company almost died this year. listen to this for a second. >> the company was bleeding money like crazy and just, if we didn't solve the problems in very short period of time we would die and was extremely difficult to solve them. >> how close to death did you come? >> we were within single-digit weeks. stuart: what he means by that, seven, eight, nine weeks before it went belly-up. that is how close he got to going belly-up. i can't remember, do you like the stock, do you own it? >> well we have in the past but
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no, now i wouldn't touch it with a 10-foot pole. i think he has all kinds of problems dealing with. he has lawsuits coming. they're dealing with safety. he has manufacturing problems. he needs a billion dollars in cash. he will have to go back into the market. i don't think this is a good bet. he is acting like the pied piper but this is not a stock you need to follow. no, i don't own it. stuart: i keep waiting for the thing to go down. this thing is teflon,. >> teflon, keith, thanks for joining us. hope you had a good thanks giving. we certainly did. we'll see you soon. >> thank you, stuart. stuart: apple at the supreme court defending the way it sells the apps for iphones. can you make me understand this? liz: iphone customers are suing. the supreme court is going to rule if the customers can sue them, claiming that the app store is illegal monopoly. the app store is only place to go if you own an iphone. apple says we have a bunch of
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app developers on our site but apple get as 30% commission for those app sales. so this matters for apple's future services revenue, right? because that's where it is tilting its profit model towards services and whether this lawsuit is successful could put a dent in apple's push for its profit line there. stuart: it has gone all the way to the supreme court. the market doesn't seem to care that much. apple still at 173. sum it up like that. liz: did it beautifully. stuart: i kind of understand it. liz: i do too. stuart: get back to my editorial, my take at the top of the hour, migrants rush the border. agents use tear gas. the democrat senator from hawaii says that is chemical weapons. knock it off. amazing stuff. tom, welcome to the program, good to be here. >> thank you, stuart.
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stuart: i grew -- do i detect a english accent. >> i grew up in london. stuart: what do you think the, took tweet down in an hour, saying we violated chemical weapons agreements. to me that is estimate okay of the democrats creating a problem, exaggerating it and walking away from it and making trump look bad, what say you? >> the challenge for the democrats they're putting forward a narrative that some sense the president's efforts to put military forces on border to improve security were fundamental unnecessary. the status quo was enough to prevent the influx or surge cross the border. when that became not true over the weekend and border patrol employed only mechanism they could employ, crowd control tactic using tear gas, they sensed the political vulnerability and then escalated to the emotional level that would best consolidate them with
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the base. that democratic base is consolidated in its sentiment you should have open borders to some degree but should at least allow people to come in and deal with the process on that side on the u.s. border. they're willing to accept any of the emotional rhetoric. stuart: i think that's a failing political strategy. if you stand for open borders and stand for abolishing i.c.e. or restructuring i.c.e. i think that is a loser. what say you? >> i think it clearly is. obviously we see in the my terms some changes in terms of people that voted for president trump perhaps not voting for republicans but i think the sustaining point of the president's idea that you cannot have a nation without a border, that there should be control over borders is one that americans as much as people around the world, many we've seen obviously immigration is an issue in europe considerably. certainly it's a problem. the problem for democrats not
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that they are seem to take a more moderate line. they are seem to take the opposite extreme. in the battle of extremes most people say we would rather have security than capricious approach saying borders don't matter that much. stuart: okay. do you like america because i absolutely love it? >> i do. i do. my father was in the state department. one of the reasons i identified more american than british the idea of patriotism, of values of people coming together. i have to say i prefer soccer to nfl, to football. i still have some wafts of england following me but it is somewhat limited. stuart: great to have you on the show. i'm sure you will be back. tom rogan. >> thank you. stuart: how about this one? violent protests, i mean violent protests in france again over the rising cost of fuel, rising gas taxes. cops in riot gear, tear gas,
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water cannon. the french don't really like it. my take on that is coming up at the top of the next hour. we have the latest on brex sit. the europeans are approving theresa may's "brexit" plan. the question will the british parliament get on board with it. if they don't, what does that mean for theresa may's future. we're on it as they say. president trump got his tax cut but come at high cost. five republicans losing their seats because of the salt reductions. what does grover norquist think of this? you're looking at second hour of "varney & company." ♪ so all... evening long. ooh, so close.
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yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you?
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stuart: holding to a very solid rally, up 1 1/2%. that is 370 points for the dow industrials.
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economic out the big tech stocks, because they are doing very well this morning. all of them up a significant percentage terms. look at facebook, up 2%. amazon, up 3 1/2%. apple is up just a fraction, a buck 32. alphabet up 2%. microsoft up 2 1/2%. it's a rally for big techs. "brexit," the united kingdom and the european union have approved a divorce deal. hold on a second. the question is what's next? 2 goes to parliament. stuart: december 12th. stuart: what happens if they say no. ashley: that would give theresa may 21 days to decide what to do next. look, she says, it is rejected, we could go back to europe do you have any give in specific areas? europe says no. like it or lump it this is what you're getting. dot conservatives, her party, suddenly challenge her leadership with a no confidence
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vote? does a general election get triggered by all of this. that raises specster of labor leader jeremy corbin -- stuart: you're killing me. >> makes bernie sanders like a raving conservative. stuart: he is a soviet-style socialist. ashley: as we speak the chances of getting through parliament are not good. stuart: chaos is coming. >> exactly. stuart: how about this one? five high-taxed states, put them on the screen, lost republican seats in the midterms because trump's tax reform got rid of deductions for state and local taxes northern as salt. come on in, americans foretax reform, grover norquist. stuart: grover, can you see the democrats reversing the decision on salt?
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getting back to the point where you can deduct state and local taxes. there is a lot of support that for democrats. >> if they were willing to support that we could have passed without eliminating salt deductions beyond 10,000. for most americans, about 10% of the americans, actually now file and look for individual deductions rather than the standard form. so we're talking about 10% of the population is in that zone. what we did do with tax reform is took about 4 plus million people off the alternative minimum tax which gives many of the same -- stuart: but the republican party was killed in those five high-taxed states. high income earners, new jersey, new york, california, they can't deduct all the tax money they're paying to their state. they really resent it. people voted democrat. it destroyed the republican party in those states. how do you get it back? >> well, two things. i think one, we understand that we're no longer, the rest of the country will not be subsidizing
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california's 13% individual tax rate. new jersey's high tax rates. the property taxes in new jersey and new york and illinois and massachusetts. this is going to force those states to one, stop tax increases they have been putting in. they have already pulled back on their plans to go for higher and higher taxes on millionaires. so the big beneficiaries actually getting rid of the salt deduction over the long term are all the citizens of those states who won't v. their taxes going up. in fact will see them come down. the other thing we have to do, the president already said he wants to do this, end taxation of inflation inside of capital gains. exactly the people who took a nick when the salt deduction was limited to $10,000 a year are the people who tremendously benefit from getting rid of the taxation on inflation. so we can make sure that people get made whole but we need to do it by cutting taxes, not raising
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taxes. stuart: look, these states will not cut taxes, let's get that real clear. i live in new jersey, they're not cutting taxes, they raised taxes. >> they cut back. stuart: they just put in place getting all the tax increases they wanted. they have a millionaire's tax, et cetera. do you support, yes or no the repeal of the salt deduction, reinstate the salt deduction, would you support that? >> if there was up and down vote attached to anything else. it's a tax cut. you could live with that. if there was certain amount of money you could cut taxes i would rather completely eliminate the death tax, completely eliminate amt or take rates down. i would rather take rates down than men taken the small part of the salt deduction that continues. stuart: okay. we'll see what turns up. grover norquist, thank you, sir. we'll see you again soon. thank you. >> you got it. stuart: if some lawmakers in new york state have their way you may have to turn over your
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social media records and your google search history the next time you want to buy a gun. we'll explain what is going on with that one after this. ♪ . i'm ray and i quit smoking with chantix. i tried to quit smoking for years on my own. i couldn't do it. i needed help. for me, chantix worked. it did. chantix, along with support, helps you quit smoking. chantix, without a doubt, reduced my urge to smoke. when you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. some people had changes in behavior or thinking, aggression, hostility, agitation, depressed mood,
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i don't think about cigarettes anymore. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today.
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stuart: very nice way to start a monday morning. solid rally on wall street. we're up 365 points. general motors reports that they're getting ready to stop production of six cars. that would include the chevy bolt. that is the plug-in electric car volvo introduced a autonomous truck service, i repeat, a autonomous truck
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service. what is that all about. liz: that is not about robot trucks hitting the road. stuart: ah. liz: like factories or mining. they don't have physical drivers, theriault bottoms. they transport things like limestone and other commodities between sites on the factory plant base. so you know, volvo is saying we could in the future charge bit ton here, by the ton. that is a big revenue maker for volvo. waymo certainly looking at it too. this is the big future for robot trucks. stuart: it is actually in use? liz: full bore in use by 2020. stuart: good stuff, liz. thank you. new york lawmakers pushpushing a bill, that would require you if you want to buy a gun hand over social media profiles and your search history. ashley: how much of your search history. two democratic lawmakers in new york, three years worth of your search history. three years worth. they say clearly mass shootings
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we've seen, there were red flags in the social media and internet content of people carried out shootings. a lot of pushback from gun activists. wait a minute you're violating the second amendment off the bat. right to keep and bear arms. the bill violates constitution related to free speech, seizure, self-incrimination and due process. i have a feeling what the judge would say as well. stuart: i think he would. ashley: trying to get the bill through. stuart: we have overstock.com. you know them as an online retailer. got it. however the ceo reportedly wants to get out of the retail business solely and focus on blockchain. the technology underlying crip cocurrencies this is coming as the cryptos start to plummet. what is he doing this for. patrick byrne is coming up on this show next. chinese scientist used a gene editing tool to create designer babies.
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the ability to resist hiv written into the genetic code. a lot of ethical questions about this one. we'll get into it after this break. ♪
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stuart: thank you for doing this. a poignant message we will never forget. 50 years old this song. as relevant as ever, the taxman. here he comes. thank you. check the big board, holding on to a nice gain. we're up 350 points. holding on to it too.
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look at gm. that stock has been halted. it is a news pending situation. reports they will stop production of six cars. that could be the news. we're certainly watching for it. it was halted with the stock up 2%. big tech names all of them on the upside. very nicely so look at this. amazon, facebook, apple, alphabet, all of them up at least 1%. with the sole exception of apple up a buck 29. now this, overstock.com, the ceo there says, he wants to get out of the retail business and get into more fully the blockchain business. that's the underlying technology for cryptocurrencies. but cryptos, they're plunging. the ceo of overstock, joins us now, patrick byrne is with us. patrick, welcome to the show. you want to -- >> how are you doing, stuart. stuart: i want to know why you're going full-scale into blockchain technology just as the cryptos collapse. why are you doing that?
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>> listen, like going back to the late '90s, people worrying about, well, some cat food, pet food stock went up or down or something they mistake that for the internet. that is not the internet. that is just some noise. the internet was here to stay. similarly the potential of the blockchain revolution is, is a bigger, has greater potential than anything we've seen in history, bigger than the internet revolution. how it will restructure society. so that is what i care about. what coins are doing on any given day is silly. stuart: wait a minute. your investors, they don't like this. you mentioned that you were getting into blockchain technology sometime ago on this program. at that time your stock was like, i think about $78 a share. now you're down at 17. your investors don't like what you're doing. >> no, no. that is not the way to think about anything. first of all i announced i was
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doing that four years ago when the stock was at 6. i started this four years ago, this whole transition. i think that we got a lot farther than people understood. we now have very interesting positions in 19 blockchain companies that a lot of them, they're starting to be all kinds of work going on among them. i think next year is the year you will really see blockchain start actually coming out with real products in the world. stuart: okay. let me ask you this, what product am i going to see next year that uses blockchain technology that i can use? >> you'll be able to trade security tokens. there is a whole new class of securities coming into existence called security tokens. and bob greifeld, chairman of nasdaq, said last november that in five years, he said that every stock and bond you see on wall street today could be tokennized. in five years everyone will be tokennized. in other words, the architecture of wall street as we know it
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will be deprecated over five years and replaced with something called security tokens. if that is true, we built the nasdaq, the dtcc, the new york stock exchange of that new world. we spent the last four years at $100 million building it. that is the kind of thing we've been doing. stuart: what is so superior about a securities token as opposed to me buying a stock? >> three things. 0% lower friction costs, complete transparency from regulators they don't have now, and immunity from manipulation. all that what is going on wall street cannot go on in a blockchain version of wall street. that will make a a some people happy panned a lot of people angry. stuart: i'm told crypto mining uses enormous amount of energy, is that accurate?
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>> it is does. bitcoin mining does. that is one of the drawbacks. we're involved in a project called raven coin that has much different energy profile. it uses some type of mining use a lot of energy. raven coin is special because it, it doesn't give you any advantage to have those great big warehouses of full of servers in china. but it does use a lot of energy. stuart: patrick, you're quite a revolutionary to do this i admire that. i'm not quite sure i understand it. but come and tell us again later, maybe next year, tell us how it is going please, because we're very interested. >> you will see products in q1. you will see blockchain products in q1. stuart: i look forward to it. hope you will be back. >> thanks for having me on. stuart: thanks very much. how about this one, a chinese scientist says he helped create the world's first genetically edited babies, designer babies. a set of twins born with a ability to resist hiv written
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into the genetic code. wadhwa vivek is with us. what do you make of designer baby. >> we opened up a pandora's box. we can't set time back. here is what will happen. will have ability in five or 10 years to he had it out characteristics of our children. conservatives debating whether stem cells are good. this is goes two steps beyond that you have a choice editing out disease. this is question i pose to the viewers. your wife is pregnant, you're pregnant, you're daughter about to have a child, do you a blood test, the doctor says the child will have debilitating disease. you can take the pill, it will fix the problem. the disease will be edited out. will you do it? almost everyone says yes. what about the other diseases? would you like to have extra i.q.? like to have blonde hair? these are choices next decade or
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so this is not happening in usa. in china. stuart: i can tell vivek you don't approve, but my comment would be, you can't stop it, right? >> he you can't stop it. you're absolutely right. but i'm terrified. i wrote an article iv years ago saying we need a moratorium on this we don't understand the consequences of gene editing. if you edit a gene, it could change human germ line. we could be creating superhumans or monsters. this is what i talk about in my book, driving a driverless car. all the ethical choices we have to make. stuart: vivek, i have to break in. general motors making news. ashley: the basic reshuffling of entire production. biggest one since they went into bankruptcy 10 years ago. they will be halting car production. stop several slow-selling models of vehicles. slashing north american workforce 15%.
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15% of salaried employees will be let go. some cars will be ditched. the chevy cruze, cadillac ct-6 and buick lacrosse. three major production factories will be shut down in ohio, michigan, ontario, canada. that is decision of changing landscape of the automobile. they will shift they say, gm, to electric and autonomous vehicles. stuart: it was halted. now trading again. i haven't seen it actually move again. 36 bucks a share as we speak. thanks, ash. we'll get back to that in a second. want to get back to vivek. secret emails from zuckerberg, the facebook guy, about data sharing scandal, seized by britain's parliament. they could be released publicly. our next guest says facebook's watergate moment. you're our guest. watergate moment for facebook, really? >> zuckerberg is getting a taste of his own medicine.
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he has been spying on us, stealing our data. now his data has been stolen. we'll see what is happening behind the scenes. zuckerberg has been going in front of congress confusing them, i would say lying except i'm national tv he has been confusing them. now he will be exposed. let's watch to see the revelation this is week. this will be a big scandal for facebook. stuart: you think facebook is done, don't you? >> i think they're in trouble. i think it needs new leadership. we need to replace zuckerberg and sandberg and bring in enlightened leadership to use the social network for what it should be used for, to up lift humanity. the company is wonderful company. the employees are wonderful. however it has bad leadership. that what is what needs to be changed. stuart: i want to change issues. this surprises me, this is big brother writ large. google has plans to monitor our moods, our movements, even our children's behavior. if that is not big brother, i don't know what is and i hate
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it. what do you say, vivek? >> stuart, that is the way it has been last few years. on your android phones, the phone is watching everywhere you go, everyone you talk to, who you know. it is also monitoring your activity levels. already there are apps that can monitor your emotions. we're already there. the news you're reading is old news to me. what my other book was about, happiness is hacked. this is worse than big brother. you're absolutely 100% right my friend. stuart: seems to me the tide completely changed. facebook and google hailed as liberators, communicators, bringing us all together. that was just a couple years ago. now they have become almost evil, the enemy. big brother. what a change. >> they have gone too far. it became about money, money, greed. and then they started deceiving the public. so think took something that was wonderful, that was good and made it bad. this is what the problem is. this is what is catching up with them right now. facebook went too far. google has been good so far.
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however it could go too far as well if they don't learn from facebook's mistakes. stuart: i don't want them following my mood. they don't know what it is. >> we have an idea. stuart: vivek, thanks. i know we'll see you again soon. thanks for being with us. how about this one? riots in argentina just days ahead of the big g20 conference. the violence wasn't about economic issues. it was about soccer and anti-semitism. question, could those riots impact affect the big g20 meeting later this week? president trump meets china's xi xinping. it will be in argentina. could a deal on trade be in the works? we'll handicap it with one of our china watchers after the break. by the way. he is optimistic about a deal. ♪ hi, i'm joan lunden with a place for mom,
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and completely ignore our laws, and say we'll break the law from day one coming into the united states of america. it doesn't work that way. we are a country of immigrants. we love immigrants. you understand that better than anyone but it has to be done the proper way. this president has been left a mess. he is dealing with it the best way possible. the democrats could have traced this a long time ago if they wanted to work on immigration but they haven't. ♪ our new, hot, fresh breakfast will get you the readiest. holiday inn express. book now for at least 20% off during our annual sale.
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stuart: it bears repeating, general motors, the stock is trading again. they're cutting 15% of their salaried workforce in north america. cutting some car lines and some production facilities. the stock is now up 4%. big gain. soccer violence in argentina. this is just days ahead of the g20 which will be taking place in argentina. ashley: not unusual in argentina where passions often overflow but a team bus containing the broke junior soccer team winding its way to the stadium to play the home team in buenos aires, the bus attacked by large numbers about local fans. three of the players injured, taken to the hospital. some with eye injuries. others, there was tear gas, you name it, it happened. meanwhile the game was merely suspended for two hours. the boca team said there is no way we can play this game. we have three players in the hospital. now they decide tomorrow when to play the second leg of the
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final. those are the types of passions you see in argentina. it is very sad players get attacked and hurt. stuart: in argentina that is where the g20 starts at the end of this week. it is where president trump will meet xi xinping of china. steve moser is with us, author of, "bully in asia." let's forget about the soccer violence for a moment. the possibility of about a trade deal between trump and xi xinping. i believe you're optimistic. why? >> i am because i think the time has come for china and the united states to reach an accommodation at least on the trade deficit which is huge and growing and of course is in china's favor and we've already seen some movement on this, stuart, because we asked for $200 billion in the reduction in the trade deficit by 2020. china responded earlier this year with an offer of 70 billion. i think we're going to come to terms around 150 billion. i hope so. and that will stop us from proceeding further down the road of this tariff war that we're
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currently engaged in but make no mistake this is not a free-trade agreement. this not an agreement that covers the theft of intellectual property, the transfer of technology, forced of american companies to transfer technology. this is not an agreement that will necessarily open chinese markets. china may say they will do these things but they have said they will do those things in the past and they haven't done it. they basically cannot undergo the kind of structural reforms we're asking them to undergo without damaging, reducing, diminishing the power of the chinese communist power which they will never do. stuart: but they will make it look good with some kind of announcement at this meeting. i want to get into something else, of real importance here. our government is urging our allies, germany, italy, japan, stop using china's huawei technology. now that, that is huawei technology, it's a company. they make chips. they make cell phones. and we're saying hey, allies of
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us, don't use that company because of cybersecurity. this is a very big deal. that could put that company out of business, couldn't it? >> well, we have to understand that under chinese law chinese companies are required to cooperate with the intelligence services and collect information. so there is really very little question that chinese intelligence agents haven't gone to huawei, zte and every other company in china penetrated western markets, you have to work with us, you have to embed a chip or software to enable us to have a backdoor to gather information. we know they have done that in earlies of it hardware. they were putting little spy chips in motherboards manufactured in china, that could be turned on and download all the data in mainframes they were installed n they have done that in terms of hardware. are they doing it in terms of heart wear? look at massive data gathering efforts going on from china for the last couple of decades.
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of course they're doing it. it is a reasonable supposition. if you want everyone to know where you are, where you're going, what you're buying, so forth, have a huawei phone. but the more important point is this. could they use that to upset the market? yes they could. could they use that to damage the economy in a broader sense? yeah, there are dangers there too. i take our intelligence agencies seriously, when they say to avoid these products. australia already has, they have said huawei will not have any part of their 5g system. we're talking to great britain which raised concerns about this italy, france, and germany, about doing the same thing. so yeah, i think huawei is in trouble. >> good. stephen moser, thank you very much, sir. see you again soon. got it. >> thank you. stuart: i will move on to sports. phil mickelson, he beat tiger woods in that very much-hyped match friday. the news everybody is talking about though, is at&t. they're offering customers who
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paid for the match a refund because of one enormous technical glitch hit the streaming site. the question, is streaming ready for live sports? jared max is with us next. ♪.
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stuart: phil mickelson beat tiger woods? the big match friday. there was a technical glitch. fans wanted to see the match but couldn't. at&t says they will refund customers who paid to watch. we have fox sports reporter jared max. seems to me that was technical catastrophe. >> what a nightmare. stuart: is streaming ready for this? >> depends on the company streaming it. turner sports, they purchased bleacher report for $200 million back in 2012. they wanted this to be a great opportunity to educate the public as a great billboard for bleacher report live. maybe they weren't ready for this from a technical side. just because you have new technology does not mean you're really ready to handle such a big deal. let's say you made the most expansive wedding cake in the world for the greatest wedding,
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and you handed it to some klutz to carry to the kitchen. stuart: right. that is a good analogy. that's right. >> they need to get this right. now they're in a spot. refunds issued by most cable providers who charged 20-dollars for the event and bleacher report live anybody streaming it get a credit refund. stuart: do you think, suppose everything worked real smoothly. do you think they would have gotten that many people to pay $20 to see a golf game? i doesn't say. >> seems like turner sports paid a lot of money. phil mickelson, 9 million-dollar check coming his way. they don't get the $20 on each perp who viewed it. maybe they think twice before, before we roll this out, let's make sure we somebody who knows how to carry the wedding cake to the kitchen. stuart: yes, right. i thought it was revolution in the way sports is watched. and i don't think it worked. that is my opinion. >> too bad. because two pros like that, phil
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and tiger. stuart: changes the nature of the game. if you're doing side bets all the time, that is not the same as real golf in my opinion. >> ashley bet me five dollars during the break that -- stuart: jared. ashley: pay up, right now. stuart: thanks for being with us. we always appreciate it. thank you, jared. check that big board. i think this is the high of the day. we're up 378 points, 1.56%. 24,600. nice rally on monday morning. violence in france. riots in paris. the president of france pushes for higher gas taxes. tear gas, water cannons on the this is what happens. i take note next. ♪ i am not for colds.
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at ancestry.com stuart: riots in france, teargas along paris, what's this about? president micron is pushing for higher gas tax of the french don't like it. as all of this just about a gas tax? not really. that is the superficial reason. what we're really looking at is the endgame of european socialism. please take note. what they've got over there is not sustainable. first of all, macron is raising the gas tax to jack up the price , save the planet. he and his fellow european leaders need a lot more tax revenue to support the socialist welfare is. when unemployment rate is 9%. and then there's the cost of security containing islamic
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terror and the error of open borders. financially and politically, france's spiraling down. let's compare and contrast with america. donald trumps america. taxicab regulation, strong growth from historically low unemployment. going forward and dynamism. gas here is just $2.95 a gallon and going down. in france, $7.6 a gallon and going up. a warning for america here. democrats want to make us more like europe. what a dismal prospect. why on earth would we want to go down and unsustainable road? riots in france show voters will dance for nosebleed energy prices in the name of fighting global warming and they won't stand for endless tax increases to finance an open borders welfare is date. european socialism is not
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sustainable. the third hour of "varney & company" is about to begin. okay, i'll calm down and speak english. more and her hands in a moment. first come and check the big award and look at this. just smile, please. stocks of triple digits and still going higher. 1.5% up in 27 of the dow 30 year in the green. they're going up today. i think our next guest should take a bow if not if it turns out. stocks are going up by the end of the year. batman with entrepreneur shares is the man whose insane since what was the date? >> november 13th. i'll come back january 2nd and will see that supper not. stuart: you still think will
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rally at the end of the year? >> i still think one other rally rally but we'll find out soon enough. i feel at the famous quarterback from the detroit lions bobby lane today said never lost a game that he ran out at time. but by january 2nd, things will be higher. we'll know this week. sales market flat or down on friday. last week was one of the worst weeks we had in 80 years for thanksgiving. but we'll see if this carries through december. maybe we'll have a strong january. stuart: maybe after to be in my bonnet about gas prices, but i love to see them like this. if cu shot in the arm. >> i mention this last time i was on your show. i don't understand why oil prices going down or negative in the marketplace. people love oil prices and in
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addition to having a strong day we've got amazon, facebook, google, companies with strong revenue. fedex is going to benefit from this. stuart: show may be attacked again. they are all at today beaten down lately. i think you believe the big tech selloff is an overreaction. the >> if you look at valuations now. amazon you've always got to take out because they have very high for a long time. even now it's come way down. you're looking at facebook, google, the p.e. below 20. 15 to 18 which is generally pretty reasonable for these companies. facebook is down 40% from its high. down about 25% year-to-date. strong profits up -- revenues of 48% in the last three years. at 78% for each of the last three years. you've got amazon which is down 26% from its highs.
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they'll have a very strong -- stuart: you at entrepreneurial style companies. >> the ones i just mentioned are entrepreneurial. facebook on amazon, google, fedex. one of the older entrepreneurial companies still in there. stuart: that was a three-minute victory lap and you did well. thank you for coming. see you again before the end of the year. google reported plans to monitor our mood, movements, children's behavior at home. they're going to watch good big brother? john mayer would transpire ventures. i'm going to say this again. that is big brother. i hate it and i want to know what you think we can do about it. >> i appreciate you bringing it up. it's part of a significantly larger conversation happening right now in silicon valley around what do we do when the companies who rely on the most such as facebook make the
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majority of their revenue and in some cases all of their revenue by selling or giving other companies access to the data that companies like facebook have on you. so when we hear about companies like google that have been in the news today released patton detailing how they are going to possibly track you in their homes with visual methods like cameras, audible methods like with amazon alexa and further target ads based on what you do in your home from which objects you look at, what foods you take out of the fridge. this is the kindest dust that is an interesting ethical issue i'd say to say the least. one of the people who's done a great job talking about this at a very important model is josh constantine at tech crunch release and article yesterday talking about how so much of this issue actually comes now on the shoulders of the tech
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workers themselves. because the public clearly is still using facebook, still using amazon alexa. but we are seeing a bit of a stand begin to be taken is on the tech workers workers themselves and his companies. stuart: i just find it a fascinating change of mood. a couple years ago facebook and google were wonderful communicators. they were benevolent. now a lot of people see them as evil and i think big change has to come. john, before you go, i want to talk to you about bitcoin in the crypt is a plunge to well below 4000. 35.93. is this the end of the crypt does? >> at this point it is still just remarkably early. one of the biggest things that i say right now is if you look at the post.com bubble burst from an early 2000 amazon was at that point trading up $6 a share.
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it took 17 years and in september there now valued at $2000 a share in the second company that clips a trillion dollars valuation. so serious transition takes time. i don't think the bitcoin and opaque 17 years, but at this point we are in some cases speculating too much over the short-term highs and lows when in reality there are actually really compelling pieces of technologies and companies be built on the core block chain technology like bitcoin. these are companies that have real product center make it real differences in people's lives. stuart: i agree with you. the block chain technologies got to look at real closely. thank you very much for being with us. great to have you here we appreciate it. this is about bitcoin. i'll higher set to become the first state to accept bitcoin for tax bill start this week geared businesses in ohio are
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able to buy everything from cigarette sales tax to employee withholding taxes with bitcoin. and they had to put a price on it. eventually individuals will be paying their taxes as well. i don't know what prejudice on it. how many -- how do you decide how many? tesla, please. elon musk admitting tesla nearly died this year. make some difference to the stock. it's up $14. look at gm. whose restructuring plan announced today that cutting 15% of salaried workers in north america, shutting down several factories, discontinuing some cars in the stock is up nearly 7%. 38 on gm. look at mattress firm. the name of the companies emerging from chapter 11 bankruptcy after less than two months. that is happening with natural term. federal agents firing tear dress up migrants over the weekend trying to rush the border.
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president trump threat need to shut down the whole southern border permanently to stop them. brexit, the european union approved to raise the plants over the u.k. parliament do the same. that is a very big question. lots of headshaking there. the supreme court hearing arguments against apple today. its customers are suing apple over the way it sells apps on its iphone's. you pay more for apps because apple monopolizes the market. a great big rally on our hands. stay with us. the third hour of "varney" back in a moment. we are up just three and 47 cents.
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stuart: the midwest getting hit
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with a big winters aren't at chicago, city several inches as now, blizzard conditions grounded or delayed hundreds of flights on this very busy travel day. that is tough indeed. a leak at a plant in delaware forced the closure of the memorial bridge for more than six hours last night. that led to some real heavy-duty traffic on i-95, one of the busiest of all highways in america. on the busiest travel days of the year. in california the deadly count fire fully contained. the deadliest fire in california history. 85 people have died. it destroyed thousands of homes. the woolsey fire in southern california is also 100% contained. the european union approved to have a breakfast plan. will the parliament also approved it? joining us now, james kirchner, author of the great book the end
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of europe. i'm very much in sympathy with that title. james come in the thinking is britain's parliament is not going to approve the brexit plan. you agree with that? the maccabee look at the numbers now it's difficult because you are the hard-core brexit fashioned from your friends over there, as do, who don't see this plan has been decisive enough. they want a hard brexit. did he have jeremy corbyn's labour party being very opportunistic here and he wants another election basically any squint pretty much oppose anything. many labour mps come from constituencies who voted for brexit and theresa may will persuade them to vote in favor of her plan. my view is this is the best deal she's going to get. there's not some batter coming in now, idea what it looks like. the e.u.'s been pretty decisive on this thing clear on that and the consequences of not voting for this deal are bad.
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you can see political instability in another election called and jeremy corbyn potentially becoming prime minister which is an utter disaster given that man's views on the united states, on nato. he is a supporter of pretty much every enemy of western civilization. i would really warn -- i would warn people against opposing this deal. i don't see a better option. stuart: that's a big enough threat to get the hard-core brexit in mind which they think is a rotten deal. >> i agree with you and i wish you would call boris johnson and tell them not because they're playing with fire. i don't think they understand there's not so glorious future ahead of his dealers reject it. stuart: i hate to go up against jacob was one of them articulate members of parliament and he can cut you without you even knowing it. i that talk about the riots in france, the higher gas taxes.
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i say, this is my opinion, design european socialism is just not sustainable. would you say to that? >> you should be happy the french are protesting proposing taxes. usually the opposite case in france. >> my point is, look, the french government needs a vast increase in revenue to sit david welfare state and the security of open borders and islamic terror. they need revenue and i don't think that the whole situation is sustainable. >> i would just say mr. macron, president of france is one of the more pro-free market leaders we had in a long time and i think you're ever going to get. actually, this protest being organized or largely been supported by the far left, you could even say communist leader
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of france. not so simple to say these people are in favor of capitalism. stuart: no, i'm not saying it. it's another crisis of european socialism of which you cannot escape. >> it's a little simplistic to say that. global warming is a problem. not something we can just wish wasn't here. there are moves to transform the french economy to make it more green, to make it less dependent on fossil fuels. that is the way of the future, by the way. fossil fuels will eventually run out one day. you have to use the trade mission. raising gas tax a couple cents a gallon is not the end of the world. >> no, i understand that. you've got it all wrong, james. you're right that the title of the book. do come back in cs and straight me out. check gold. still around $400 an ounce. up 30 cents. look at oil.
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some recovery there are $52 a gallon. at 3%. not much airfare recovery. gas price to keep them plunging. national average down 47 straight days. absolutely love it. after nearly a seven month journey traveling 300 billion miles, nasa's insight lander is set to land on mars at about 3:00 p.m. eastern time today. engineers say seven minutes between entry and landing, the risk is part of the mission is successful will land near the equator. it will study the interior of mars from the planet. the international space station celebrating 20 years of orbiting the earth at the time lapse video. shows to orbital trips comprised of 21,000 images. not sure i see that very clearly. you get it all on "varney & company." i don't quite understand it.
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will be back. ♪ your insurance rates skyrocket after a scratch so small you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty. ♪
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like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. stuart: amazon has a couple of problems. number one, anti-amazon protest
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land for today in new york city. people not happy about the tax breaks for the new headquarters building. that is problem number one. number two, it is cybermonday. big day for amazon. jeff flock is at a fulfillment center in illinois for the weather has caused a big power outage. go ahead you look freezing. >> the only good thing about the snow as it was halfway warm. this is one of the financial centers we were prepared to come out. would you know if it the one that was shut down because there is no power. they finally got the parking lot plowed. look at the pilot know up there. the trucks have finally gotten in since we last talked to you, but inside there is still no power in their, which means no picking, sorting or shipping your product. they were going to show us all
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the good things you can get on amazon prime. ships same day delivery. no same-day deliveries coming out of this one here. stuart: it's a shame you pick that one because i would love to have seen you inside one of these giant fulfillment centers. you do very well with flat feet tv. >> i would love to be in to be in a warm fulfillment center than where i am now. stuart: jeff flock from your right. thank you indeed. happy thanksgiving. when there was speculation that condoleezza rice would be the next coach for the cleveland browns, she shut down the report. she said she was an experience enough. she didn't end there. calling on them to start bringing women into coaching. up next on the man who agrees with her spent 30 years coaching professional and college but all. work for five hall of fame coaches. the market right now holding onto a 300-point game.
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not the high of the day, the lf 325. will be back.
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stuart: holding onto 300-point on the dow. up about 380. 24,600 is where we are. scott martin, is this it? is this the start of a real serious rebound double hold through the of the year? >> today it is. listen, in this marquee really got a placing short-term. you have to pay attention to things day-to-day. a later question, though. by the end of the year things are going to settle down. we'll get some clarity out of hopefully these talks to china. more economic data and more importantly we'll get past the next fed rate hike in december for the fed is going to comment about listening to these markets, maybe taking a path that i've been saying all along and 2019, which is indication the markets going to like. stuart: at present-day positives
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that the market is facing today. you've got an extremely strong holiday shopping season kicking off. we've got predictions that will be up 6% this holiday season. that is enormous. gas prices absolutely tumbling in still further to go on the downside. we've got a rate of growth in the economy which is remaining very, very strong. i would've thought those are the fundamentals surely good enough to sustain today's rally. >> i would think so, too. i would frankly say those fundamentals which he played out had been in place for a while. we've seen oil dropping for days or weeks. read on the holiday shopping season just looking at surveys, consumer sentiment that this holiday season and 401(k) balances will be great. get the market psychology was so rough it was looking at the other side of the coin is in the rate of growth will slow in 2019 and we've had beaker named an oil is going to rebound because of issues of saudi arabia or
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whatever. the reality is that an is that the investor money manager myself you really have it take a stance on where the market psychology is. right now the market wants to see fundamentals that is waiting to have the verdict on them and i do believe those are in place that should probably get by this market psychology which is in a bad state for a few more weeks. stuart: is an elderly person myself facing a limited time horizon, should i put more money into this market? last week i bought from alibaba. i bought into alibaba. was i right? human psychology billy gets annoyed doing not an investors do the opposite. i turn 40 this year and i know that sounds a bit trifle, but it's true. i'm getting closer to my retirement than i did when i
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started investing and that's one thing to keep in mind is that there is asset class allocation out there when you talk about fixed income which we've been adding to her portfolios. gold as well which will balance out equity stuff you own. stuart: we are laughing because you're throwing me off the show. >> i'm closer to my possible retirement than they first was when i bought my stocks. stuart: we would you be that one. thanks for being here. you soon. take a look at oil plays. it is up today. john, you know what's coming. you underestimated. you underestimated the amount of oil and the price went down and not a good would you admit to getting it wrong?
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>> i think i'm still accurate on the u.s. production side. what i got wrong, which i think everyone got from the iranian sanctions which is what is behind the drop in the price more than anything. the traders had traded in a million to 2 million-barrel a day reduction through the crude oil prices in terms of the west texas, i see that still strong in the 11.5 to 12 million-barrel a day realm. the price were going to see more to the downside. i don't think were at the bottom you. i think were going to see prices drift into the 40 range. 45 maybe.
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could see less supply coming into the market. a lot depends on what the saudi's do over the course of the next six months. stuart: administration on the program a few weeks ago saying within a couple years, that was his word, within two years we would have a production of 14 million barrels of oil a day in the united states. will be by far the largest oil producer >> it depends on global demand and also that we see some really weak spots in the supply-side such as venezuela and libya and other troubled spots in the world. 14 would put the u.s. senate seat in terms of setting a price.
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if the u.s. gets to 14. we will see you again soon. thank you. former secretary of state condoleezza rice shot down all the speculation that should become the next head coach of the cleveland browns. she does, however, want more women to get into coaching in the nfl. our next guest agrees. jed hughes is with us. >> if they developed a and give them an opportunity to comment on learn at the grassroots level, if they assess the analog for the inquisitiveness and the
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passion it developed in a work with the offense, defense and have a variety or with a successful team eventually one is going to get a job at the san antonio spurs with becky hammond who is safe warmer college player for wnba player, they met her in a wnba team with the spurs team and they brought onto this path. they've given her assignment and she continues to grow. same kind of pass an opportunity would be needed on the nfl side. stuart: you're talking basketball at the moment. i'm talking on the football side. >> i know, right. stuart: why. stuart: ways that i did have women coaching football team. remember please, and a woman has got to tell you whole and great big guys what to do and laid on the lawn and good will they accept government women? >> though except that like his
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quarterback. 20 years of experience. so this woman is going to have to be in an elite relationship builder and have the background and credibility that declares respected novel come from the training. stuart: do you have any names? you have any women in the nfl, in football who look likely to become the coach of a major -- there's not. >> there's on a pipeline. an pipeline. an owner's guide to commit bring this person and then develop a training program for them. a coach is going to take them under a given array of mentorship to be able to develop. it's not a leak approach. this is an owner, head coach, woman honor. she's made some advances in that area. it's going to take a commitment minute not going to be easy. a long way away from it.
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stuart: jeff hughes, thank you for joining us. britain's parliament has seized secret e-mails from mark zuckerberg. the e-mail included about-face irks privacy controls and documents about the data sharing scandal. facebook stock not suffering up to .5% and an overall upmarket. at&t offering refunds to people who pay to watch the match between tiger woods and phil mickelson. technical glitches cause problems right from the get-go. at&t says it's investigating the cause. the stock up 2%. the investment firm baird says google needs to spend big to increase its share of the cloud computing market for the firm suggested a list of a potential takeover targets. among them work day, now, salesforce sandbox. those stocks right now on the upside. federal agents firing tear grass
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and migrants over the weekend did they rush the border near tijuana. resident trump shot the southern border permanently appear will talk to the head of the border patrol council next to news from the supreme court hearing arguments against apple today. a lawsuit claiming you pay more for apps because apple has a monopoly. we are seeing reports that suggest the court may be sympathetic to customers on this issue. we are on it. full report coming. i just got my ancestrydna results: 74% italian. and i found out that i'm from the big toe of that sexy italian boot! so this holiday season it's ancestrydna per tutti! order your kit now at ancestry.com
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transfer adobe says a record $6 billion is spent online by the end of black friday. cybermonday is good to be the biggest online shopping day in history. earlier today we spoke to retail expert bruce flickinger. here's his take. tonight reported by% to 4%. of the stock market comes back in the oil market comes back we will be between five to six. a couple variables we could have six was an all-time record of 1 trillion, which will be closer to 4% increase. cybermonday will be about 8 billion. amazon could be half of that. comparison to your points on macy's, amazon sales growth in the upcoming year to be double or triple of all these things
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combined.
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stuart: shares of campbell soup halted. in his pending situation working on a deal to avoid a fight with the activist investor daniel lowell. any kind of headline we get to get it pronto. homeowners refinancing and raising tax. 80% of borrowers chose the cash out option.
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they took out $1,426,000,000,000 from their home equity. the highest rate since 2007. to the border, federal agents by a teargas. president trump tweeted about it. mexico should move the migrants many of whom are stone cold criminals back to their own countries. dual biplane, by bus, anyway you want but they're not coming into the u.s.a. we will close the border permanently if need be. bring a jet. national border patrol president. the ninth circuit says that anybody says they can claim asylum. president trump says nobody is going to get in. the standoff between the two. >> that's what he's saying congress needs to fund the wall. you cannot put your foot into the united states which is what
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the ultimate goal is, to ensure legal immigration takes place. stuart: what the president wants to do is stop anybody from any one of them putting one foot over the line. thus the president's intent. >> it is. that's what made to have been given we have a divided congress right now. no laws are going to get passed and so we are not going to get immigration reform. but we have to do is we have to ensure legal immigration takes place in not illegal immigration and about one foot into the united states between a port of entry is illegal and therefore we have to take them into custody and not the problem we are facing. stuart: what we've got right now is the migrants at the border trying to get in but we are pushing them back so they stay on the border, the other side of the border? >> now, they have the opportunity to go to a port of
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entry and legally claim asylum. that's the process. when you look at this teargas, i'm so sick and tired of our aged being vilified for doing their job and doing it properly. our agents did not deploy teargas until they were hit with project files, rocks, bottles. if you look at what this caravan did, they push the women and children up to the front. how monstrously. they did it for the optics have it. we had to act in kind and the way we did it was the proper way in the humanitarian way to disperse this crowd to ensure nobody was injured. stuart: got it under control. are any judge thanks for joining us. i know you'll be back. the investment firm coed says that stateside defense
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contractors is limited. the defense stocks right now on the upside. next, we'll deal with apple. that stock turned lower and the supreme court heard argument pending the apps store is a monopoly. the only down because of what's going on in the supreme court. we will deal with that after this. nah. not gonna happen.
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or visit kohlerwalkinbath.com for more info. [ready forngs ] christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he.
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and muscle increase and imbecile increase in appointment to the state has been approved by loebs co. third point. it is still halted by the way. the supreme court hearing arguments against apple. apple is being sued by customers who say that the app store is in fact a monopoly. all rights, judge napolitano is here. it lay miss. >> how many apps can you get on this?
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to .1 million are any of the manufacturers of those apps doing apple for its failure to serve their product? no. consumers say we want to take somebody else's and put it on your hardware. if the supreme court upholds the president's favor circuit, the ninth circuit, which did uphold the claim, it will radically change antitrust law. i would be completely stunned at the supreme court were to uphold for the plaintiffs. stuart: however, we hear from the oral arguments that can be heard in the supreme court. it's not going apple's way. it's going away the plaintiffs. >> that may very well be in b. when investors look at when they're trying to predict which when a case is going to end up. judges don't always telegraph exactly how they feel when they ask questions. i can tell you and the justice department whose job it was to
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monitor filed a brief. guess which side they're on? apple. there is no case. almost unheard of because the regulators and the doj are nitpickers who like to regulate. stuart: if they've got to .1 million apps in their app store, that is a vast number and amounts to a monopoly. can they be called a monopoly on the ground or at stores. stuart: you are becoming sympathetic to plaintiffs lawyers. >> i am against the attackers had it up to here. >> take my sarcasm not have it. you could argue that it's a monopoly. you could say i bought a chevrolet and i want to put ford tires on the chevrolet and gm has made the red so it will only take gm tires.
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that by the way is not a made-up example. a real example in which they said you've got to make the rims when a tire can go on it. if you want to analogize back to this the plaintiffs will win. if you want to say apple you are forced to install a product on your hardware which is inconsistent and i don't think you get there in the first place. all of the traders to watch her show or disagreed with me. [laughter] stuart: one video game is now best-selling video game of the year less than two months after it was released. we will tell you next as a matter of fact. we would give them to you in a second. very interesting.
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. .
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stuart: cyber monday we have preliminary numbers as to how it is going. as of 10 a.m. eastern, there is $531 million in online sales. that means on we're on track for 7.8 billion in total. that would be a record. it would be up 18% from last year. less than two months after its release the latest call of duty is already the best selling videogame of the year. "call of duty" black ops 4, reached a billion dollars in sales. analysts say, that "red dead redemption ii" will likely make more money before the year is over. who would have thought. millions and millions of dollars. starting tomorrow, 1:30 eastern you can hear more opinion from me. i will be doing a daily segment on the new "fox nation" streaming service this will be all-knew content. nothing repeated from the show. you want strong opinion on politics and anything else that gets me fired up, don't miss it. my take on "fox nation." it will be every day starting
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tomorrow. what do you make of that? liz: what are you talking about today? stuart: doing a practice one about the presidential press conference. on how i think there is a need to restore decorum. ashley: respect the office. stuart: respect the office. that is what i'm doing today. ashley: that is a good one. stuart: i want to do one on free speech. ii want to see a new free speech movement in america. i think our free speech is cone strained. ashley: especially on college campuses. liz: we're tracking that on "the evening edit." fees back has booted off facebook pages that monitor government overreach or government spending. those have been nixed, sites like that. stuart: you're to young to remember mario savio. he was a student at berkeley, who founded the free speech movement in 1963. it was a very successful movement. bring him back. the man has passed by the way. ashley: what would he say today,
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stu? he would be mortified. stuart: he would be appalled. i don't like your opinion, not allowed to have it or state it. >> shut up. liz: that is free speech. stuart: which have it, con -- connell mcshane in for neil connell: great show. i'm connell mcshane filling in for neil one more day. we're in rally mode at the markets. we're getting a bounceback seems like long overdue. the way markets are acting of late. big tech is up. oil is bouncing back. a couple things

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