>> thank you so much lee carter mitch rochelle and michael block for spending morning with everybody. it is always a pleasure or particularly on as we celebrate the life with smile of president george h.w. bush that does it for us "varney & company" starts is right now. stuart take it away. stuart: good morning to you a very good morning to everyone you're going to like this. what a way to start a monday. log on to your 401(k) now and just watch it go. the dow is going to be up what, 400 points at the opening bell we're going to get real close to 26,000. which is getting close to the all-time record high. in other words, most of october and november's loss has been wiped out. look please at the nasdaq up 2% of the open. that's a huge gain. and i'll tell you now, that some of the biggest gains are in the technology stocks just wait until you see apple amazon and all and chip makers straight up. what's going on? a truce on trade with china. all right now look at oil you've

got it on your screen that's going straight up as well what's going on there? opec meets this week and promises to cut oil production, and opec is shrink qatar says it will leave next year. they don't want to be subject to all production quotas big pictures, american frackers are shaking up the world ain't it great? now look at this, getting carried away gas all a the the way down to $2.45 a gallon it drops six cents over weekend. missouri, still the cheapest state, the average there is just $2.the 05 are a gallon and in 26 states you will find at least one station selling for a dolla 99 or less and then there's this. today a great american a man who lived a true full and honorable life returnses to washington, d.c. bush 41 service dog sully flies with him on air force one. now named special air mission 41. you will see it.

"varney & company" is about to begin. i'm going out on a limb speculate on what announcement says i think it will be a truce, cease-fire agreement not to rach et up dispute and that's a big plus frankly for the world and market. well every now and again you get it right put me back on -- to that tape all right that was my prediction from friday now there is a china trade truce. futures are sharp isly higher. and president trump's tweeting about that meeting with china's xi jinping here's the tweet. my meeting in argentina with president xi was china was extraordinary one. have tin a very big leap forward and we're deeting from great strength and china like has many

to gain level the field. wait, there's more. president xi have strong personal relationship he and i are only two to bring about massive and very positive change on trade and far beyond between our two great unites a solution for north korea is great thing for china and all. all right let's get become to original trade truce, the trade deal if i can put it that way is -- a cease-fire if you like, the 90 days during which time no tariffs will be imposed by the u.s. because there was a threat of imposing tariffs on some 200 billions worth of chinese products coming into the u.s. china agreeing to low, lower the the the tariffs on u.s. autos into china they raised it to 40% to bring it below under 40% we don't know to what level also a china agreeing to essentially buy a bunch of our stuff. what came out of the meeting was a not yet agreed upon but very substantial amount of u.s. products to keep and help narrow trade deficit with china.

so lots of good rhetoric not a lot of detail or timetable in all of this. but to your point markets like it because we're heading in right direction when it comes to trying to sort this out. >> market loves it yes there's a 90-day period where you have to get a deal or you go back to 25% tariffs on everything. with us, hors investments kind of guy. all right, this is a new deadline isn't it? do you think we can get a deal on theft of technology and theft of the intellectual property in 909 days? >> probably not. we're going to make a lot of progress but stuart i don't think there's magical about 90 days if they're close, after 90 days if they're within a few weeks, they'll extend it further. >> so you think -- then you sound hopeful that we would have a series of deadlines and we're going on into the future and negotiate and negotiate and negotiating all a of the time with the the positive back drop that we're going to get it done.

>> two really important points number one not new tariffs to 25% nothing is going to get worse in the next few months. the other big story i think is that the larry kudlow pragmatic wing is now totally ascended they prevailed in argentina. smg well peters was at that dirnl, and i guess he didn't have a or very strong presence. >> i'm told president likes to hear him talk but i think biggest factor of all was the market just as market influenced jay fowl to tone down the hawkishness market of influence donald trump. i think trump realized that if he came back from argentina empty handed we would have had a horrible day today in the market it is trump got it. >> let me just throw this at you. davos big world meeting of the elite i believe it takes place in january what's the possibility of xi jinping turning up making a speech saying you know what we're going

to open up to the whole world not america that's a possibility isn't it? >> it is a possibility. there's a long way to go. the devil is in the details that's a cliche but it's it a true cliche. personally stuart i think we get a deal around summer time. just as trump are is beginning his reelection campaign. it would be a nice way to start his campaign. >> it sure would. overall we've gotten rid of the fed of negative got rid of trade as negative. you look at market just straight up from here. >> one other big negative to drop later because of a funeral this week. other negative is mueller i think markets can look mueller i don't think it is a huge negative but that's coming between now and christmas. >> that is a great way to start a monday morning thank you sir. see you again, soon. >> president trump tweeting on automakers i'll tell it to you right now here we go. china has agreed to reduce and remove tariffs on cars, coming into china from the u.s. currently the tariff is 40%

okay, bearing in mind that, look at the automakers and american automakers premarket, with all of them up substantial especially general motors. up 3% and pushing 40 dollars share. big tech -- they look their winners from this trade truce as well all of them straight pup big time percentage moves look at amazon up.5% facebook two and quarter percent a a pl nearly 3% alfa bet microsoft is 112 all time high is 116. trade center shots show you those boeing right up there with a 4% gain at caterpillar 4% gain. 3 a.m. united technologies et cetera, with et cetera -- they're all up. optimism is booming that king ai quote. [laughter] serious stuff there in paris, riots over rising fuel prices again. this time around more than 100 injured.

400 arrested, christian whiten is with us former state department advisor to trump and george w. bush welcome to new york by the way. >> great to be here. >> okay brits are leaving. germany is leaderless. italy is insolvent france is in revolt spain left -- >> far right pop you list to the government. >> 12 far right elected populist in spain europe is unraveling suspect it? >> with political systems that with haven't brought -- haven't really had an outlet for the anti-establishment impulse that has had. intersection sit best at least that was escape valve for sentiment there but in france where you have a government that refuses to accept any of the complaints of those who are sick of the establishment, in fact, is forcing taxes on not necessarily because they need more revenue but because of climate change because of this state religion they have now and rest are of us are looking at christmas and hanukkah they're

worshiping sun god and farm reverse paying more taxes than they're met. >> sarcasm in any mind is high form of whit on monday morning. do you think it is macron is just -- wishing and raising fuel taxes? >> i think they're so detached and so unable to pull apart from their establishment views they talk in these circles and don't think these people have a legitimate gripe. they think like here the same way people view the tea party or trump they are ill jict and racist and should be ignored not that they have a complaint and we should understand why their lives are being made worse by policies. >> as i step back by this and look at what's going on over there there's a lesson over here a lesson for in thes on raising taxes and own climate change. watch out how you phrase it. what do you say? >> i think so. again if you look in both sides it what is here. the tea party wases demonized not just by democrats but for

example by "the wall street journal" editorial page. but you have both sides who are demonizing legitimate gripes with our political and economic system. and thankfully we haven't had political violence here nots much as you see in times of tushes turbulence. >> are you positive about this trade us truce? >> too much optimism it be. nothing that chinese hasn't offered before a dialogue offered twice before in trump administration a big package of goodies frankly stuff usually they would import anyway. i think munn chin is way out on a ledge and i know market like it is. market is not going to get donald trump elected people who want manufacturing jobs would. >> pretty good 20 seconds thank you sir. thank you very much. let's get to amazon because -- they're testing that cashierless technology at much bigger stores. tell me more if you've got it ash. >> they've been doing this with small stores amazon go stores

you track from -- the moment you walked in you take items off shelf they charge you automatically you walk with out it is a beautiful thing. 7 small stores in seattle, chicago to sphrifng are now operating in quite well. now that theory that amazon is thinking we can do this on small scale shops let's think about on grand scale large shelves and high ceilings present problems for tj perhaps harder to track people and make it accurate, however, they believe it can be done. this is a huge threat to the -- establish brick-and-mortar grocery stores say wait a minute because you can go to one with of the big stores to go around grab your stuff is and leave. it will be disruptive. stock is up 75 dollars share to date. 4%. >> i love it. look overall let's have a look at this this market is going up big time this monday morning. 400 points for the dow. 2% or better for nasdaq composite. we should be up 400 maybe -- push well we will be pushing 26,000 at the opening bell.

who better to talk about this than president trump's top economic advisory that's larry kudlow he was in the room for that dinner meeting between trump and xi he'll be with us 11:15 this morning. meanwhile alaska picking up pieces after that big 7.0 earthquake friday. a lot of damage to roads and infrastructure. and amazingly despite what you are seeing, no major injuries reported. >> yeah. >> congressional congresswoman democrat congresswoman i should say now travel are are -- traveling and slams president trump. she says he created a human -- he created a humanitarian crisis. he it. >> of course. you'll hear more about this believe me, after this. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything?

hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪

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>> let me reenforce just how good a monday morning this is going to be for your 401(k) will you look at that? the dow is going to be up well over 400 points it real close to

26,000 trade truth works, and nasdaq -- up 2% plus. i guess the technology stocks are going to do well. that's money. here's politics. president trump tweeting about the wall here it is we will save billions of dollar if democrats would give as vote to build the wall either way peel are not allow into our country illegally. we will close the entire southern border if necessary. also, stop the drugs. president trump wants five billion dollar for border wall or he says we'll shut that government down. who is with us now. look tom -- former republican senator from oklahoma. great guest on our program with us this morning. mr., welcome back. >> is it worth shutting down the government to get funding for the wall? >> well i think some points you go to democratic congressman actually helping poem break our law. >> you're talking -- >> south of the border. what we have to understand is

rule of law has to matter something, matter in our country. and she's abetting foam environment our law so we either control our borders or we don't and that's the fundamental question and if you don't want to control our borders we won't have a country it won't be financial that we collapse over it will be a lack of -- of appropriate fiscal and political policy that will kill us. >> i don't to walk away from -- from the washington state democrat, i've got her on tape. essentially she says it's president trump's fault that you've got this mess hold on a second. i'm going to play that tape roll it please. by pushing all of these people who are legitimate away and we have to find a process to be able to bring them in process them quickly, and deal with

these legitimate plays this is a humanitarian crisis of donald trump -- >> she's going to go back to washington and report to congressional investigators as part of the house judiciary committee on use of tear gas troops and trump's responsibility or or for all of this i can see endless surge ofs investigation dem nice our president. >> again, what we some major underline problems but of the key responsible reasons in the federal government is to control our borders. it is not all of the other stuff that they make states do. but that is one that is key. and so when you lose virtue when you lose respect for the rule are of law, when you lose the ideas that you ought to be a good stewart of people's money when you borrow money with impunity with money we don't have you can see what kind of trouble we're in so it is all

solvable but not when we have people misguided don't understand the constitution. i would put forward that that congresswoman has no idea what the rule of law means. there has no idea what our laws as far as protecting our border and what the responsibility is of the federal government. so should we shut down the government if the president doesn't get the five billion he wantses to build the qawl? >> well if we don't get a compromise to actually start controlling our border so shut it down. >> whatever it takes, to get you know we can get a compromise. it may not be five billion but we can get a compromise to actually start controlling our borders. why wouldn't you not want to control our border? >> because you want democrat voters to come in. isn't that what's beginning on? >> but the other is is you're totally misguided you're a socialist mark cyst. >> do you believe federal oughto control anything so let they will in so t because government eliteist are in control. >> i think socialtist in america should take a look with open borders in europe and everrising

taxes. >> and venezuela others that are coming. thanks so much for joining us good luck at yale today by the way. >> new york stocks exchange and nasdaq will be reserving a moment of silence for president george h.w. bush listen in threes.

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i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. >> well, this is quoit a mondays morning is it not in look at this the dow is going to be up what 440 point. reaching 26,000, nasdaq composite is up over 2% now that's 146 point well above 7,000. suzanne joined us ashley is here. seems to me that the two big negatives of a week ago that will be the fed and china trade they're off the table. everything look pretty good. >> i agree look at the price action last night over in asia two and a half percent for shank hay and hong honk japan did weld

treasuries dialed back we were sitting at 3% for tenure yield and economy is doing so much but seem to see best gdp growth stuck at 3% that was you know people thought that was telling us a recession environment. >> tenure treasury above 3. 3.02% -- okay, still, you know didn't dip below that would be concerning after the weekend. >> with the world economy that's true. 302 market seems happy with it. >> a global sigh of relief for now. it is a truce it's a cease-fire for 90 days good as i think as we could have gotten out at this stage. i think that feds saying not saying that rates are or far from normal as per jerome powell is helping dial back, that is a huge thing. >> been resistance like s&p i think it is important to look at level of two, 10, 215 that's resistance mid-october mid-november crossed through that they say it is a santa

claus rally for month. >> looks pretty good right now. show me big tex because real action this morn. look at the gains first of all facebook is back well above 140 dollars share around there friday actually. but amazon is up 77, 78 bucks per share. 1767 that's a 4 president 5% gain apple is up $5 at 184 google is up 25 dollars that's two and quarter percent. microsoft all time high 116. but it is a real -- they've taken such a hammering in recent week don't they benefit from trade truce. i think they do. >> apple there was threats that maybe iphones and -- you know, air pods might be involved in going up to 10%, 25% of tariffs so there's definitely a relief rally for apple shares and probably technology that goes along with it. >> now look at oil, bouncing this morning, up a couple of bucks actually. to 53 dollars per share.

i guess that's good news for the market isn't it? oil stocks are all up -- >> stocks so that helps bring market overall for sure. >> here's another positive. thought about this -- price of gas is -- >> well really look it is up 400 points i love it and dow look at that up 145. i paid $2.the 30 at a station in new jersey i filled up twice. >> i didn't -- [laughter] i filled up, and there are now 26 states where you can buy gas or for less than $2. keeping morgan told you on friday 170 billion stimulus to u.s. economy. >> 170 billion that's right and any one year -- that drop we've seen. that leads to consumer to spend. right gas is down 31 cents -- i love this stuff. really do. we've got what is it? 90 seconds to go our should add one more thing about opec. falling to pieces -- [laughter]

tar i think is correct pronunciation. you probably been there haven't you? >> i'm you have. qatar is leaving opec next year. they've been a member since 61 they're leaving they want to focus on natural gas apparently. and i think they don't want to be subject to quoters for their oil production. >> opec is so outdated think about it all of the fracking the u.s. is going to produce and supply half had of the world energy supplies, and five years. what do you need opec for at this point? >> never tell the truth anyway what they tell you is is not what they're doing is so all of the big shell game anyway. a shell game. >>let be honest it be that also not the first to leave opec asia did that. >> wait a second price up oil is up today because opec say we're going to cut production supply. >> from 80 a barrel you're up 15 that's up and that's -- optimistic. >> feel free to throw cold water, no problem with that whatsoever. >> oil prices not a bad thing for u.s. consumer.

>> no i think it is a fine thing. they're applauding that means we're close to the start of trading on monday morning and i think you're bing to like what you see when they actually start trading. we're looking for gain on the dow around 400 points should be around 26,000. boom we're off, we are i want to see this. i want to see this here we go. all right from the get-go up 378 point don't you love it. who will give me 400 yes 405 points and not leave the dow until all of those dow 30 have opened at the moment we've got 27, 29 open one is left. one is left -- opened down -- j&j okay. waiting i'm waiting i'm waiting we're up 442 points that's one -- there we go. so they're all open an we're at the 1.64% that is a big gain. 425 points right out of the box. don't you love it? show me the s&p 500 please i want to look at the percentage here.

1.4% that's a bigger gain than you saw on wow look at that close on that index now just hit it. now look at the nasdaq this i want the to see. up 2%, 2.1% 153 points 7,484 quickly let's check big tech we showed you them a fewenmies ago premarket all up. the market is opened still all up -- percentage gains 1% up facebook 4.5. amazon 2.7% apple and microsoft, 2.08% at 113. chip makers they also benefit from this trade truce. look at them go intel up 2%. micron 3.4% and qualcomm 10%. automakers told china will not put 40% on american cars going over there. all of the automakers are up in

strong percentage terms. last block -- trade sensitive stocks the boeing caterpillar united technologies all of them very sharply high per especially boeing and caterpillar. >> you knew that was going to happen. you get a trade movement positive on trade boeing goes straight up. maybe china will buy 100 billion in price of something like that or cap equipment who knows. joining us jeff seeger is with us. scott she is with us and suzanne scott to you first. the biggest headwinds for stocks have been thed fed and trade. now they're gone. therefore santa claus rally here it come what is do you say? >> i think it could be on cards stuart i think another thing that's been really kind of getting in the the way are are everybody is -- own imagination right everybody keeps looking for the boogeyman under bed and it is not there. we've had some great economic numbers come through. yes we've had to worry a little

bit about the tariffs in china. and the fed but feds not climbed down and we have truth truce with china so we can stop looking under bed for monster that might get us in middle of the night everything is okay and funny when things are going so well we get worried when they can fall apart and people get nervous. no keep gopg with this. things are fine. i say everything is -- on page four a good end of the ye. >> what a way to start a monday morning and guy is in london for heaven's sakes. good stuff indeed scott now let's turn to jeff. you have been cautious. you've been very barish have you changed your mind? >> here's -- here's i guess not easy to get here. the reality of it is that yes i have to apologize to people if they listen to me they would have missed a whopping 3% return. and s&p 500 this year, about but truth is my issue has always been with the fact that technology, i believe, and still believe is overpriced and you have a lot of these technology

companies collapse as a result of the concern about tariffs concerns about interest rates are. so yes, i think that market is going rally or for the the rest of the year based on this 90-day reprieve but i believe that once this air comes out of that balloon, they're going to go back to the fundamentals and yes i agree with scott fundamentals aren't terrible but we have still 5 stockses that are crucially important and those five stocks are showing our flaws right now. >> what do you got scott? >> you know what, it is hard to argue -- i leak jeff's thinking a lot. but here's another thing i want to bring up. you know we saw tenure yield climb down from that 323 level to 302 today that got everybody worried about my gosh we might have a recession what's that trying to tell us and oil down are from 50 to 80 to take a peek at 49. and what's that got to do with the recession around corner oh, my god trying to tell us something. how about this, what if everybody thought they have the trades wrong right they got on

boat to see higher rates and oil will go to 100 bucks i actually heard 400 bucks so sometimes the market or trade could get it wrong. and it doesn't mean there's a recession around corn tear means they're wrong. [laughter] >> means they're wrong ever hear that? another trump tweet on trade here we go quote it for you farmers will be a very big and fast beneficiary of our deal with china and extend to purchase agricultural products immediately we make finest cleanest product and that's what it means farmers i love you. scott you're a farmer. are the farmers the biggests beneficiaries of that trade truce? >> i don't know if they're biggest but they're up there. and i was out on the farm for thanksgiving i was just back there over the last there's or four weeks yes, the farmers are behind donald trump. he has given them a couple of paychecks here to make this year okay. what they're worry about are low prices for next year and year after but this new deal is going

to help that a lot so their patients looks so far to paid off and they're still in this corner. >> by the way agricultural stocks which are on left hand side of the screen all of them are popping this morning. check big board this is where we stabilized after five minutes up 400 points 1.6%. individual stocks here question go. next star media confirm it is plans to buy tribune for 4.1 billion. this deal would make company largest owner of local tv stations in the the entire country. price of gold this morning is up. along with stocks and just about everything else that including oil. at 1239 a 29 gain and stocks do this, what does bitcoin do? it is -- it was up. a little -- five bucks higher. nearly 3,-9d 76 per coin i have to get to gas prices you know how if i love this natural average 2.35 down 54 straight days. now take a look at oil --

thank you. look at a oil today the worst month in a decade down throughout much of the month. qatar is leaving opec to focus on naturals gas. crude oil supply has increased for 10 straight week. and we're about 53 dollars per barrel. scott, come back in again. i insist that cheap oil is good for the economy. am i right? >> you're 100% right here's the reason why. there's no other way to put money in a consumer's pocket fast ends of story that's it. and that's a weekly basis maybe even a daily basis so when i paid $2.05 yesterday on outskirts of chicago, that's a big deal because guy on weekly basis get that money now. >> good point thanks scott to let's go to amazon. they're testing the the cashierless technology at much bigger stores. can you tell me a bit more about that ashley?

>> well, basically they have amazon go stores which are small 2500 square foot stores you can go in, you're track you take items off shelf you then charge those items directly you walk out the store. cashierless fantastic aiming dison now saying -- wongd per we can do this in a big store environment that makes it harder higher shelves, harder to track people but amazon seriously looking at this and that could be also there's -- there is a rumor are out there that they could try this with whole foods stores. >> exactly. why not? >> those people who love it are upset about that notion saying that unique commercial service lost if there's no one in the store. are you onboard with amazon back to 2,000? >> i understand. eventually it is beginning to go back but to address what ashley said, i think it is a good -- there's a good side and bad side. i think amazon desire to eliminate the human interaction is a very bad decision for retail in general. ting i think that human

interaction is going to keep people in brick-and-mortar, and a i don't think they should do without it completely. >> younger generation suzanne lee says not agree. >> i don't agree because that's what younger generation want they don't want human interaction i'm buying something pick up goods get my salad i want to get out of here. >> why do i want to have a conversation with a cashier special? >> something with service, these are human beings these are jobs. we have to keep the jobs intact and me personally, i -- i intentionally go to the cashier even if i have to wait an hour and a half. i'll go to the cash about as a protest against no cashier. neanderthal moving on sports fans. look at marriott. second biggest hack in history. maybe they could have stopped it. data breaches like this -- is this kind of look at this stock is up today. >> so 500 million accounts

second largest corporate tax behind 3 billion remember yahoo! account abouts and reportings and some of the releases show this is happening going back to 2014. and even star woods that marriott merge with that 13 billion dollar -- merger that took place years ago in 2015 point of sales system like cashiers and other programs were hacked into. can you imagine all of the encrypted credit cards and passport numbers? >> everybody's information is out there sorry scott go ahead. what you got? >> guess what, i was in a compliance meeting in friday when this these broke you know what's frustrating if it whats in financial world, there are big fines big penalty and people get hurt but seems like in corporate world when it happens nothing whats there's no accountability. there's no consequence i bet you nothing happens to the star wood or marriott away we go and happen again for more down the line. >> yahoo! paid a fine for 3

billion account hack so there are financial penalties that at the end of the day is that enough? do you think, this keeps happening doesn't it? >> it will keep happen i'm sorry but there's no way to stop hackers clearly. >> you impose liability you lose my information it gets out there. you're responsible but it is not like that? >> here's the problem these companies are are not regulate aring themselves in opening the the door for government to regulate them which is a very, very negative thing for these companies. >> i have got to get to this reporting that some employees at that e-cigarette maker joule not happy about a possible deal with a conventional tobacco company. what's their problem with -- >> they think it is bringing in the maker of marlboro into company that is part of its existence there to make money let's be honest but it is to get people off combustible smoking into safer -- type of smoking or, you know, vaping. so they think this is going

totally against what this company stands for. they say people will quit with if this happens and find it hard to recruit people to come in. but the revenue, the the jewel is even with the fda coming in, and there's a belief that fda comes in and puts in some strong regulations on these vaping products, about it is a positive ultimately because moving forward it will clear the way because they still make a tremendous amount of money. >> joule value what is this close to 16 billion -- 30 billion reach a 10th billion four times faster than facebook did. >> wow. incredible. >> they have a product they're -- using an addictive substance for addictive substance a product that might be as addictive or more addictive to me ting that fda is going to find out thing about e-cigarettes that are going to make a lot of people very suspicious about this whole industry. >> last word to scott what do you got, scott? >> you know what, i agree with jeff there worried replacing one

bad thing with another bad thing it leads to yet another bad thing so i'm a little the skeptical but i know a lot of vaping thing for these younger folkses is kind of like a -- like bigger than that but a new cool thing been and i'm wondering where there will be because it is still so new. >> got it scott jeff, gentlemen thanks for joining us appreciate it. >> time is up. >> saying thank you very much to jeff and scott you're still here. stick around young lady. check big board stocks surge on that trade truce with china. we're up 400 points. >> yeah. yeah. [laughter] big good coming up -- what's going on here? that's -- that's scott there signing up. signing off in london there. larry kudlow will be with us at 11:15 this morning right from the white house very important getion on a very important day. all right dow is up 400. apple holding off on releasing a new iphone. that's news to me. the stock is up nearly $4 what's

that about holding off from new iphone. >> going back to 3ge they believe in the apple world that they should wait until the the bugs and the -- problems teeth problems of these systems get out of the way before they adapt them to their phones in the past that's worked. this is a pretty risky thing because 5g promises all sorts of amazing lightning fast download in ability to turn this -- this product here into a real dassling computer right away galaxy phone will jump other a marketing thing you can't get a 5g on iphone but you can get it with us. >> apple product cycle annually maybe they miss with cheaper xr phone this time around but i would imagine they stick with a one many of year release process and delay a 5g one. >> analyst say it is risky but stock is up 2% in overall surge

for the market. why is it surging? buzz we've got a 90-day trade truce with china. the market is, obviously, like it. tim phillips is with us americans fors prosperity. tim, you've always been on this program saying, tariffs. got to get rid of them just got to get rid of them i take it you are happy with the postponement of the the extra tariffs on china you're a happy guy this morning. >> absolutely, and we're good to see markets doing well and president is doing right thing by delaying the implementation of additional tariffs on china. we would urge them to go further i know you're shocked to hear that stew but we would urge him to go further and in this trade war, that's impacting adversely an economy that because of his good policies, the the other ones that tax cuts and the regulation, rollback, is actually taking off right now. >> you've got a trade truce with china because of trump's hardline. the imposition of tariff. that was the stick that got

chase to do something. >> that makes no -- all they did say was we're going simply let you delay putting in new tariffs i don't know how that's progress. but it's a good sign by the president doing this. and we applaud it and i think he has another big opportunity in the next few days on government spending. with these year end spending plans stuart. we would urge and support him in looking at congress and saying guys, no more of these nutty omnibus bills leak you did back in spring that blew up spending lets get it under control we'll support it if he does. >> we hope he does. >> let me get become to tariffs in the 909 days is up. and they've done nothing -- we have to impose those tariffs with 25%. you've got no choice. you can't just will the them walk all over you. can you? >> what would you do -- >>what would you do to make them comply with stop stealing our intellectual property and stop force technology transfers what would you do in if you don't

have tariffs. if you bring two issues together that's a enormous mistake here's why you were punishing over 300 million american consumers with high per prices on the goods they need and buy every day, and you're -- what you would do not we know what president trump does. hit him with tariffs until you start really negotiating and doing something. now qhald you do? you wouldn't hit it with tariffs what leverage do you have? >> i wouldn't hit them with tariffs because it is -- for american economy. you've never told me how will you get leverage with china? >> i would say to american companies first of all go in eyes wide open on ip phone the intellectual property front and then, i would negotiate using the -- united part of the country sort of with us europe is with us on this. canada is with with us on this. done it before. but -- stuart do you want really to punish every american.

>> that's wrong. >> i think what china is doing is absolutely wrong. and i'm fed up with our -- with our stuff being stolen. that's wrong. and you don't the have a way to stop them doing to. trump does, and administration's role idea is to punish over 300 million american consumers many can't afford higher retail prices and -- to stick it to thousands of farmers to farmers in world to penalize them. that's the the wrong approach to penalize american farmers and businesses. in order to help the american companies that go into that market. and in the approach. listen more sympathetically if you can come up with a way of getting leverage on china and so far you can't. the tim phillips i'm afraid we're with out of time. you know how it goes good talking it you. all right we're up, not 400 points now about 370, tim phillipings killed rally -- the the dow 30 shows let's see

23 up 7 down. dow is 360 amazon's move to new, new york city. some backlash here. led unions some local politicians and certainly upstate new yorkers really not happy about that deal. we're going to talk to someone who still says amazon head quarters is a good thing for all new yorkers. we'll take them on. welcome to the place where people go to learn about

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oh, and happy birthday... or retirement... in advance. >> holding on to a very solid gain dow industrial ises are up 340 points that's 1.3%. we opened with a gain of better than 400 points so we come back a little bit. 441 was the high. but we'll take 349 at 953 more numbers. it is dow winners looking at it oh beauing a big one 5 president 5% and nike major companies big winners among the dow stocks. look at amazon a lot of backlash. over half of its in new york city, come on in. julie samuels with tech nyc. julie welcome back. >> when you were on this show you were celebrating amazon for getting into new york city so it was a good deal.

well i've got to tell you upstate new york is mad as hell about this because -- upstate new york is suffering and their tax money is going to subsidize the the amazon of this world what's your response? >> first of all i have to start by say i'm still really excited about this duel it is a political backlash that's true but i think this is still good. first listen my response is, when you actually look at the money we're talking about about, this subsidies incentive it is not as if there's checking account with 3 billion dollars. that would otherwise you know be given away. that money is incentive base it only happens it only goes to amazon if amazon actually builds the jobs here so you're still starting from a baseline of tens of thousands of hundreds of thousands if you count multiplier effect of new jobs in new york. for the tax base, city, state, et cetera. >> okay. do you think that the mayor of new york bill de blasio welcomed jeff bezos's amazon because jeff bezos owns "the washington post"

which hates president trump and so does the mayor of new york is that -- it a little politics here? >> i think that that's going farther than it actually is i truly believe mayor and governor in this instance who politically are having a hard time with with far left face on this they are. so you know, i think they understand that you're talking about tens of thousands of good jobs. you're talking about revitalizing a part of the city that -- historically kind of was run on manufacturing jobs. and they understood that that's a deal you want, you know when you're mayor or gofer that's a deal you want for your city or state that's a good deal. >> just sign a couple of weeks ago when we were on the show. it is going forward -- going forward no holdups whatsoever. these are moving. smg it is going to take some time but the way the process works it is going through state city council doesn't actually have that much say as a matter of the law here. so it is moving. >> okay. thanks for joining julie we appreciate you being here, and see how it works out. [laughter]

tnches thanks julie. now i have to feel good story. why not? feel good it is the holiday season a diamond ring lost and now found take me through the the story. >> couple from england in new york -- for a little holiday, the young man proposes to the young lady and in central park she says yes. they're so excited they walk through central -- through central park into times square ring is a little big falls off goes dun a grate you can see them looking at that mortified they try for some thyme to get if t. down there somewhere as you can tell they tell the police officer. police officers are on it. they look for it look for it couple after hour say it is again and devastated as you can imagine they go back to hotel. they fly home the next day. the the police never gave up. they found the ring at 10:30 no way of tracking them down and they put this alert out on twitter social media -- does anyone know this couple we found their ring a friend in england see it forward it to the

couple they get the ring back. >> incredible. all type of good stuff you on this remarkable day in the market we'll take you all the way through the money action after this. i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet? i am not for just treating my symptoms... (ah-choo) . . i am a zifan for zicam. oral or nasal.

stuart: 10:00 in new york. 7:00 in the morning in california. we have a rally on our hands thanks to a trade truce on china. we're getting thank you numbers on manufacturing. ashley: an important one. 59.3 in november. 115th month in a row economy expanded. it was better than expected. we see a slight increase from september to october. things were concerned that things slowing down into november. no. manufacturing number better than expected. another good sign the economy is humming along very well. stuart: another good number, construction spending. that is down 0.1%.

i don't think that had much impact. ashley: call that flat. stuart: the strong showing of manufacturing, i do think that did help the dow momentarily. we dropped to a gain of 290. we're back to gain of well over 300 points. ashley: good number. stuart: the other great news for the market is the china trade truce. keith fitz is back with us. keith, you had been cautious because of the two big negatives, the fed and china trade. now they're out of the way. are you gunning ho for a santa claus rally for here? >> not with all capital letters, stuart, but definitely getting there. i like what i see this morning. what i would like to see more holding above 300 points to the upside by closing bell today. then we have a real shot at some solid follow-through. stuart: are there any bargains left? it was a good week for stocks last week. it is a great week today. what's cheap anymore? >> depends on how you define

cheap. to me amazon is still especially selling. this cashless move is part of that. a.i. is part of that. i like nvidia here. it has been beaten down mercilessly. i think it will work through the inventory challenges it had. boeing and cat i was looking at last night, practically drooling on my computer as i saw the futures move. stuart: have you left it too late? >> boeing no, no. stuart: boeing is up 5% this morning. >> if you're a trader you can make that argument, stuart. i fancy myself as an investor. i have a horizon the stuff is with us a long time. dependent on numbers with us a long time. less concerned about the day-to-day stuff to get traders up and down. to me this is about investing in qualify companies, equaled ceos, making real money. bethany day with government and politics. stuart: what do you say to this? this is wild idea off top of my

head. the davos get together is? ian a few weeks away, what if president xi xinping of china went to davos, made a speech we'll open up to the whole world. he woo get real good pr, if he did that, what would the market do? >> i think the market would go screaming higher. that is also a very logical move for him to make because the one thing you and i talked about many times china nears most is not the economic tariffs, it's the loss of face. if they can present a good face to the world it re-establishes credibility. lends to the idea of negotiating with president trump who very rightly is playing hardball and i think that would be good for financial markets. stuart: i'm telling viewers i'm speculating wildly here. i have no knowledge whether xi xinping goes to davos next month. i have no idea whether i does that. if he is watching the show, maybe he will.

keith, thank you very much indeed for being with us, sir. get in there. stay on trade. here is the tweet from the president this morning. my meeting in argentina with president xi of china is extraordinary one. relations with china taking a leap forward. very good things will happen. we're dealing from great strength. china likewise has much to gain if and when a deal is completed. level the field. stephen moser, author of, the bully of asia, which would be china, is with us this morning. steve, we have a new deadline here, 90 days from now, get a deal on theft of intellectual property, forced take over of our technology. do you think you can get a deal done of that complexity in 90 days? >> i think first, let me take a little victory lap here, when we talked about this last week i said we will reach a deal. we will reach some sort of accommodation with china on the trade deficit. we'll bring it down in some sort of phased fashion by 150,

$200 billion. i think that will happen. intellectual property, transfer of technology, is a tougher nut to crack. but look, we've got, china has extra 90 days. long enough for serious negotiation but not long enough they can sit back and relax as they have for the last 20 years. think where we come from since may when we first put 140 demands in writing? china refused to negotiate. tariffs in july. tariffs in august. tariffs in september. china refused to negotiate. finally november 12th, three weeks ago, they finally started negotiating in earnest. we have an interim agreement from the g20 summit, 90 days, plus 30 at end. year, they are coming to the table. they finally put something in writing. i think things are moving furiously now. the chinese side know this. they know the tariffs to date put the chinese economy on glide

path downward. they know they can send the chinese economy over a cliff. i'm not sure we want to do that they know they're not doing well and they need to bring serious offers to the table. i think good things will happen november 1st. stuart: what you're saying is, president trump's very hard-line, tariffs impose them, threaten more, has worked? flat-out it has worked? >> absolutely. only thing that worked in the last 20 years. the chinese said last summer, we will never negotiate with a gun to our heads. well the only reason they have negotiated over the last few weeks is precisely because there's a tariff gun at their heads. so that's the only thing that's worked. it's going to keep working. there is a deadline. i think we'll see real movement on the part of china. it is really tough for them, stuart. they don't have the rule of law. they have the rule of the communist party. they have thousands of little emperors all over china profiting taking advantage of american companies. it is hard for xi xinping to

rein those people in. if he bears down hard enough he can make some progress. stuart: can he do it? can he rein them in and to some degree change the business model of china and change theory with america? can -- the relationship with america, can he do that and save face? >> chinese are not saying much about the outcome of the meeting between xi xinping and donald trump. they're just saying negotiations continue but remember that information is power in china and that everything is forbidden except that which is explicitly permitted for the public to know. it is the very opposite of our system. the fact they're not talking about details is not surprising that has to do with face. he doesn't want to tell is had people he made compromises. if he looks weak, other people will besieging him trying to take him out. he has to look strong. that is his problem, not our problem. our problem is to get a level

field to shrink the trade deficit to protect intellectual property. that is what we've got with a man in the white house is doing right now. we need to step back, let the man do his job. piv him some room to work. stuart: steven moser. i'm sure you are back frequently. see you soon, sir. economic the big board up again, we're up still 300 points. wait a minute. i have breaking news to report. fed chair jay powell was supposed to testify before a joint session of congress wednesday. that testimony has been postponed because of george h.w. bush's funeral. a new date for the p.m. still to be announced. that testimony will not happen next wednesday. next star media, ever heard of them? they will buy tribune media for $1.4 billion. this would make next star the largest owner of local tv stations in the entire country.

ashley: sinclair was apparently going to but that deal fell through. stuart: i didn't know next star. glaxosmithkline buying tesoro. they're paying $5.1 billion in cash. tesoro up big time. check out marriott. they came on the second biggest hack in history. first yahoo!, losing information on 3 billion people. then marriott, look at that, the stock is up three buckings. over 3% this morning. picture of george h.w. bush's service dog, lying in front of the casket. sully is the name. accompanied the president since june. next he went to walter reed military hospital in maryland where he will work with other veterans. this hour we'll see the president's casket move from the

funeral home to the base where the family will board air force one. we'll show it to you as it happens. first though, big opec meeting this week as saudis and russia renew their pact. qatar plans to leave in 2019. i want to know, is this end of opec as we know it? i will ask that question. google under fire for planning to make a search engine for china. we have a warning for sundar pichai whose picture is on the screen. nothing good will come from this and your legacy will be destroyed. he will make his case forcefully. the second hour of "varney & company" rolls on.

stuart: at the high of the day the dow is up 440 points. we've come down a little bit. now we're up 300. jpmorgan issuing a downgrade at verizon. they were downgraded from a buy.

they have strong err outlook for competitor at&t. that is big drag on the dow, off 3.6%. look at that. look at roku, the streaming company. they goat a upgrade this morning because of the china trade truce. i'm not sure i understand that. that is roku. let's get to opec. are they losing their importance? seems like it. russians and saudis are standing with each other to extend or impose production cuts. i got that. the video ge 20, crown prince and putin .

they losing because american frackers are flooding the market. are they losing because of this? >> qatar is political decision. they represent 2% of opec output, 2,000-barrels a day. this is casualty of qatar's dispute over saudi arabia over the saudi attention it is doing to qatar. the qataris felt they had an opening because of the khashoggi killing so they're expressing displeasure with saudi control control over opec. this removal of qatar does impact the stability of opec and the ability to dictate supply. but of course, u.s. natural fracking and gas production does impact opec but of course opec

because of huge ability to control prices with saudi arabia and other producers still is an entity well have to face as influence on oil markets. stuart: are they still opec? they are still the major player or is it now america? i ask that question because i was told we're going, america will be producing 14 million barrels of oil per day within a couple of years. we are already the world's largest producer at 11.6 million-barrels a day? >> of course as america production increases opec's ability to monopolize prices decreases but saudi arabia being a swing producer and having excess capacity they can influence to increase or decrease oil prices will continue to sway opec's ability. of course opec plus which are the decisions that russia and saudi arabia making to maintain supply at certain levels will be able to dictate oil prices but qatar's removal from opec i think showcases there are more

severe cracks in the organization than previously thought. stuart: will they go through and actually implement a cut of 1.3 million-barrels a day? i know that is what they're talking about, they will issue a statement saying they will do it, will they do it? >> ultimate level of the cuts will be determined. there is intendedded cut in supply that will result in an increase in prices because saudi arabia and russia feel it is in their interests to do that because of the severe decline in prices we experienced over the last several weeks. stuart: mark, thanks for joining us. we'll see how that pans out. we appreciate it. >> thank you. stuart: this is an important development here which has -- not that one but i think this has implications for all of europe, riots in france this is about a rising gas tax. take me through it again. ashley: taxes are going up, cost of living standard of living going down, began with the

surcharge on diesel, 23% taxes on diesel. countrywide, people very upset. i was figuring it out 6.4for a gallon of diesel. that is up 23%. french president is doing this because of environmental concerns, not getting people driving as much. people around the rest of the country we need our car and trucks to do our job. you're so out of touch. people having full-time jobs having a hard time making ends meet. total of three people have been killed over that time. hundreds more injured. hundreds more arrested. a crisis meeting with paris and macron with the ministers. there was a suggestion a national state of emergency be called. we're told apparently that is not on the table. put it this way, it isn't over yet. it is called the yellow jacket riot. all the truck drivers have to have a yellow jacket in their

cabs and that is the symbol. stuart: does macron walk away from the gas and diesel price hikes? ashley: he hasn't indicated. i don't see how he can. he hasn't indicated he will. there are a lot of unhappy people in france right now. stuart: clearly. now this, kareem hunt, former running back for the kansas city chiefs he said the team was right to fire him for the allegations. now the nfl is under fire for their handling of it. we're on it.

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"all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. stuart: stocks way up today, so is the price of gold. gold is at 1238 per rounds. bitcoin getting back close to $4,000 a coin. 3800 now. it turned south to the tune of 75 bucks.

3836 on bitcoin. look at casino stocks. all of them up today. why? because of the trade truce with china. plus higher gambling revenue in macao which is part of china. so they're doing very well. melco up 7%. and wynn up 10%. big deal. now this, the nfl is under fire for its handling of the kareem hunt incident. video surfaced of the former kansas city chiefs running back, shoving, kicking woman at a hotel. jared max with us. fox news sports reporter. jared, he apologized for what he did. he said the chiefs were right to fire him. what is the problem for the nfl here? >> the nfl has a problem potentially with public relations because we're only four 1/2 years removed from the ray rice incident. former star for the baltimore ravens who seemed almost be another case of domestic violence in the nfl with a little slap on the wrist until video appeared on him beating up

his then girlfriend in an elevator. the nfl appears to once again turned a blind eye, back in february kareem hunt had an incident outside of his residence a hotel in cleveland, with a young 19-year-old woman. things get into situation where he shoved her. stuart: this is the hotel. >> we see her on the ground. that was one of his a acquaintances who shoved a couple people. one of his own people went down, she went down. what will get him on the way out, he gave her a stupid little kick on the side, like kicking her aside. she slapped him in the face after he shoved her. one could say, why did he then not file assault charge against her? some would say why should we not file a charge against him? we don't know what this will be. the nfl obviously needs to get in front of this. the kansas city chiefs in february, found out about this, hunt lied about this.

he said i stayed in the my hotel room. my friend handled it. they never spoke to kareem hunt. never interviewed. no civil complaint, no arrest, why, did the nfl do their due diligence. there were no arrests made. they don't look good from things in the past. stuart: do you have an opinion on this? >> i want to wait to see what happens. because i have some questions here. i think kareem hunt seems contrite. he is talking about, getting his life in order. maybe he has anger management issues he needs to deal with. there is another issue where he had in june punch ad man in the face at a hire resort. he could look more than a baseline suspension for the violation issue. there could be something more. stuart: at the moment he has a six game suspension. >> on the commissioner's exempt list. not official. there is baseline suspension for

conduct detrimental. stuart: is he cut by the chiefs? >> he is cut by the chiefs. stuart: no matter where he goes if he goes anywhere he is out for six games? >> he stormed into the league last year. was a top running back. had a bright future. if he is 70, 80 years ago, what is the biggest regret in life. probably what happened that night. players need to be smart and obviously you can't be doing that. you don't treat people that way. you don't treat women that way. as the quarterback says we don't do those things. stuart: always good, thank you, sir. now this, president trump reiterating the threat to close the southern border if necessary. one democrat actually heads down to the join the caravan. we have the full story on that, believe me. google's ceo facing a backlash on the search engine for china. our next guest says there is better ways to build business rather than selling your soul. strong stuff.

he will make his case in a moment.

stuart: the market is holding up. we're up 340 points. what you're looking at right now is the funeral home in houston. the bush family is inside of the funeral home. shortly they will come outside, and then the casket will be transferred to the airfield where, from where it will proceed to washington, d.c. that will be ellington field in texas. so we're waiting for the bush family to emerge and accompany the casket to that airfield. we'll follow this all the way through for you. i want to tell you that the stock market is holding up today. we opened with a gain of 400 points. now we're still up 330 points. that is about 1 and 1/3%.

often when you open with a strong rally you see a strong dip fairly soon afterwards. we saw it drop to a gain of 290 but now we're back up again, 335 to the upside. the big tech names, they are really leading the way here, significant gain there. amazon, 4% higher. 1769. facebook reached 142. apple, 183, big gain there. alphabet 1131. a lot of people really upset over this one, that would be google. they're working on a censored search engine for china. vivek wadhwa, harvard fellow is with us. you sent an email to google's ceo. you told him his legacy could be on the line if you go through with the censored search engine. i take it you doesn't like it? >> stuart, we learned how google

turning down a contract with the department of defense, u.s. department of defense, to build technology to recognize images on drones. there was up road in google bit. they had updated the code of ethics saying they will not do evil. you read the fact they're building a special search engine for china the last two or three years in complete seacrest system this search engine will put lives of chinese dissidents at risk. it will give china all the new powers, all the information. what is wrong with google? they won't help us defend our country but on the other hand they will go to china to help them kill their people? this is outrageous. i lost respect for google as a result of this. stuart: a lot of people have said this. are they immune to this kind of criticism? will they keep on doing it no matter what? >> i hope sundar sundar peget ht kicked by congress. i rarely write to him. but as i told him, you're

selling your soul over here. you're destroying other legacy. your founders will hang you out to dry. they will do with zuckerberg doing with sheryl sandberg on facebook fiasco, blame you for everything. you will lose everything you have for nothing. china will rig the system so google has no chance of success. that is the way china does things. stuart: are you sure if they create this search engine just for china, that china, the chinese authorities will exert censorship complete censorship control over google's search engine? >> that is -- stuart: are there no safeguards, google will have no safeguards at all? >> that is why they're building a special engine so chinese can do whatever they want wit. they will house all the data in china so china doesn't have to come to the united states to request information. they have everything local. they have all of google's advanced technologies available locally. google is selling their soul to

china right now -- stuart: you're a guy who is right in the middle of silicon valley. tell me what other people, the other techies, silicon valley, surely they don't approve of this, do they? i thought they were libertarian kind of people? >> not google employees approve. they are doing it in secrecy. internet report they're doing it in secrecy so not even google tech people can get involved in this. what got me so upset they're doing all these things to pretending to high and mighty and ethical. there is no support on google. stuart: this is shock they carried through on this one. intrigued what they say when sundar pichai is in congress. thank you for joining us. >> bush family is on the way to send the casket, take the casket of george h.w. bush, bush 41, to

put it on its way to washington, d.c. i'm not sure i can identify all members of the bush family there, but they're lining up, as the casket will emerge from the funeral home, make its way to the hearst which will then take it to the airfield. again, i apologize. i cannot identify the members of the bush family there. i'm not sure who are there but but the casket is on its way out. i will pause for a moment. respectful silence, as the casket of george h.w. bush emerges and guys to the hearst

stuart: the casket is in the hearst. it will move shortly towards the airfield from whence it will go to washington, d.c. i should tell you that the casket will fly aboard air force one. president trump has said it will be used for this purpose today, but they have renamed air force one. it is now, special air mission 41. because it carries the casket of george h.w. bush. i believe that is neil bush in front of the screen right there. perhaps the son of george h.w. bush we know least about. who has been in the headlines less than jeb bush and of course george w. bush. the casket is in the hearst. it will make its way to the airfield. we'll be following this throughout the day as the casket moves towards washington, d.c.

if i may say for just one moment, i want to say that george bush had the most extraordinary, full, and honorable life. ashley: remarkable. stuart: of any american that i know. ashley: talk about a life well-lived. truly remarkable. stuart: well-said. i make no comment about the man's policies, his politics. at this moment, that is irrelevant. i think it is the man himself, and the life he lived. we should be celebrating today. ashley: yeah. stuart: how many americans, how many people in our country have a life of service an honor the way he did? here who is a man who volunteered on his 18th birthday to go to war with a vicious enemy. ended up as the youngest fighter pilot in america. on board a aircraft carrier in the pacific. fighting japan 20 years old. ashley: go on to head of cia and president of the united states. he had athletic ability.

he was a great, huge baseball star back in his college days. the only president to throw out a first pitch, actually from the pitch pitcher's mound. stuart: hillary vaughn is with us. i think you know the schedule for the rest of the day. take it through us please. reporter: stuart, they arrive at ellington base at houston, this is three-hour trek from texas to andrews air force base where they're going to land. in houston, once they get, ready to go, that is where former president george w. bush will meet the rest of the family an make their way here. they're going to land around 3:30. then motorcade from andrews air force base from the capital behind me here. the rotunda. there will be a formal ceremony at 5:00 p.m. at the capitol. things will close off. then open at 7:30 p.m. for the general public to view, pay their respects, honor and

remember what was many an american hero but also a friend, a family member for these people. many of them here, the ceremony, or the open public viewing of the casket will remain open for over 35 hours, which is remarkable time to allow everyone who wants to be able to say good-bye. stuart. stuart: he was a truly great man. hillary, thank you very much indeed. okay. i will segue if i may to money for a moment. this is a remarkable day for president george h.w. bush. we're going to follow that but we cannot ignore what is also a remarkable day on wall street and remarkable it is. the dow industrials at this point are still up over 300 points. this follows the trade truce with china came out of the g20 meeting over the weekend. we're up 331 points as of right now. all right, president trump

has been tweeting about his former lawyer, michael cohen. and here it is. michael cohen asks judge for no prison time. you mean he can do all of the terrible, unrelated to trump things having to do with fraud, big loans, taxes, et cetera and not serve a long prison term? he makes up stories to get a great and already reduced deal for himself? and get his wife and father-in-law, who has the money, off scot-free? he lied for this outcome and should in my opinion serve a full and complete sentence. he is not holding back. howard kurtz it with us. howard, you saw that in the middle of this particular day, the comment please? >> first of all pretty clear president trump is upset with his long-time lawyer, some called him the new york fixer. whether michael cohen is now

telling truth because he acknowledged lying before is at heart of mueller investigation. i'm so impressed looking at you and panel talking about president george herbert walker bush, the last of the great generation. and jumping out of airplanes. his qualities of graciousness, gentlemanly guy of restraint, who liked to compromise with the other party, there is a contrast with the polarization of today's politics one of the reasons why he is getting so much praise. some in the media are trying to use bush's death to attack donald trump by saying see, trump is nothing like this. but politics was polarized long before donald trump got into politics. stuart: yes, there are many people in the media, msnbc in particular, which have sought to link the g20 meeting and the, michael cohen, the lawyer. i was sitting on this set on

friday. i've got a bank of monitors over here. msnbc was covering g20 but they were talking about in their banners across the bottom of the screen, read all about michael cohen. said they were polluting the trump g20 meeting with the michael cohen coverage, eager to bring them together. it seems like they will stoop to all -- they will stoop as low as they can go to indict and criticize and harange president trump. it's never going away, howie. >> well, msnbc has plenty of company because i read a number of stories about how bush's death highlights trump's supposed isolation at the g20. there was chatter in the media about whether or not his cancellation of the, what was going to be a meeting with vladmir putin over the seizure of the three uranium ships and their crews whether that was it was not appropriate to do it after the michael cohen plea. here is a "washington post" headline today, honorable,

gracious schuss, decent in death, bush become as yardstick for president trump. some news organizations are not be subtle about this, contrasting trump unfavorably with the 41st president. stuart: left-hand side of our screen the viewers are watching motorcade carrying the cast kit of george h.w. bush on its way to ellington air force base in houston from whence it will be transferred to d.c. i heard a comment this morning the president bush was the most effective one-term president in the history of the united states. howie i would go along with that? >> i think that may be a fair assessment because this is a guy who managed the end of the cold war, who garnered this international coalition to kick saddam out of kuwait in the gulf war. who accomplished a lot on the domestic front with the democrats. and people, you know, there was a tendency at the time, first of all he got a lot of negative press, some doing with the bitter '88 campaign.

because he lost and because the media tend to view politics in prism of winners and losers, well he failed. he didn't fail after 12 years of republican rule in the white house, voters decided it was time for a change and bill clinton won that election. george bush was not the most dynamic speaker. he didn't have the retail skills of a ronald reagan. how telling is it that the man who beat him, bill clinton, clinton and bush senior became friends, lifelong friends after that. it was barack obama who visited bush in his final days this past week. tells you something about george herbert walker bush's style. stuart: is there a difference in values between world war ii president bush and the current generation of baby boomers like myself and perhaps you, howie? is there a difference in values in the sense of honor and service to one's country? >> i certainly think world war ii was a time when the country was extraordinarily united against the nazi menace

and the war with japan as well. the wars since then that shaped some of our more recent presidents, vietnam being the most palpable example, one that bedeviled many presidents including george w. bush, although he did serve in the reserve, much more, the country was much more emotionally divided over those wars. same thing with iraq, which bush's son, doing invasion in 2003, it was a contrast between the senior bush ousting, as i said saddam from kuwait but not completing what some people wanted at that time which was regime change and george w. bush's toppling of the saddam regime. but that of course mired america in a war that continues to be controversial to this day. stuart: howie, thank you very much for being with us today. a solemn day. in my opinion a celebration of a great american. >> agree. stuart: howard, always a pleasure. thank you, sir. we'll be right back for you.

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stuart: okay. now we're up 260 points. that puts us at 25,800. remember please, we opened with a gain of over 400. so we've come back down a little. which are the stocks which are the big winners on the dow? well boeing is up now 3%.

caterpillar, apple, nike, dupont, dow dupont, all of them strong gains today. democrat congresswoman of washington state has joined the caravan, wants to help get some of those members of the caravan into this country. listen to what she is saying about president trump. >> imperative that the united states not to continue to feed a crisis pushing all the people who are legitimate asylum-seekers away. we have to find a process to be able to bring them in, process them quickly, and deal with these legitimate asylum claims. this is humanitarian crisis of donald trump's making. stuart: whoa. this is a humanitarian crisis of donald trump's making. we need to, he created it. the blame is on trump. that is extraordinary. adam brandon with us, freedom works president. you know, this, is she -- she is

going to, the congresswoman is going to report back to investigators in washington and that, what she says is going to be used to investigate the president and maybe impeach him. what the devil is going on here? >> first of all, if they are really asylum-seekers crossed the border into mexico take asylum. there the fact they're trying to enter the united states clearly means these are economic migrants. that is reflection of a broken, broken immigration system that we have right now. americans want legal immigration but they don't want illegal immigration. so this is actually something, if this congresswoman was serious, there is a deal to be made with the president here on something that you could do. but this caravan that is coming up, this is, this is just, i mean they're just trying to run and crash across the border. stuart: do you think the president should shut the government down so we get the money for the wall? >> my big concern coming up here, we're going to have about, december 7th, we'll run out of money.

do a short extension and massive omnibus. the real threat i see to the united states right now, this is something we have to deal with on the border, spending is up 16% the last two years. i'm a spending guy, so i'm really worried when i look at trillion dollar deficits. i see a lot of easy deals you can do something on immigration, to your point what the democrats is trying to do, trying to destroy everything accomplished the last two years, delegitimatize entire trump two years in the white house. hit the administration, every agency with investigations and, try and settle this in 2020. they're not really serious about fixing immigration. stuart: do you think we will ever seriously cut government spending? >> oh, we have to. stuart: but will we? we've been saying this 30 years. >> 30 years, i don't want to be on the show the market is down 50% because we have some incredible crisis, debt crisis. i would rather to fix the problem now. this is my only hope of divided

government. divided government is good for spending in the past. the president called and publicly asked for all of his administrators to cut 5% of their budgets. i think that is a fantastic start. stuart: do you think it will happen? >> well that is why groups like freedomworks exist get people in the fight to demand to return to fiscal sanity. i would be happy flat-lining the budget two or three years. stuart: i would love that too. brandon, adam i'm sorry, we do appreciate it. chicago based creco labs largest cannabis manufacturer, went public in canada. the ceo is with us now. why did you go public in canada? >> good morning. thanks for having me. the reason we went public in canada, access to capital markets and capital we need to normalize and professionalize the cannabis space. this is the vehicle for us.

this is the vehicle available to u.s. operators right now. stuart: now you guys grow it. you distribute it and you retail it, is that right? you're vertically integrated cannabis company? >> correct. we're vertically enat that greated at this -- integrated at this point. you need to control the supply chain and value chain. it is what will allows to continue to be the leader executing, getting into new markets, becaming operational fast and creating a consumer products goods approach to cannabis. stuart: what i hear, putting out edibles something you eat with marijuana in it, with mean you items from james beard s that accurate. >> that is perfect example the way we want to approach the space, normalizing, professionalizing it, one of the ways to do that bring subject matter experts in every element. working with james beard award

winning chef, to work with the he had --s it, edibles it seemed to work it. stuart: why is there shortage in canada. >> the adult use market is regulated. as you have seen a u.s. market when they transition from medical to adult use they can have that supply chain sort of hiccup at the beginning but i think canada will be find, i think the u.s. markets are going to be even better. stuart: we were told 40% of the cannabis sold in colorado is in the edible form. i'm told that is accurate. is that because people want to say stay high, stoned all day, and can do it by popping a caramel or something, and there is no smell, that what is going on? >> i think there are several reasons for it. again if you look at sort of crest co's mission, to normalize the cannabis space, precised dose nature after edible makes

that form really appealing. you know that product has exactly 10 milligrams of thc in it. if you're consistent operator and reliable operator. that is why i think that form is one the forms that continues to grow and bring new people into the cannabis space. stuart: thanks very much for being with us, charles. we do appreciate it. congratulations boeing public today. we'll hear more about it later. >> thanks very much for having us. stuart: sure thing, got us. check the big board. now we come down. we were up 440. now we're up 237. i'm not aware of any specific incident that has taken place to bring the market down but we're still up with a gain of 1%. the winners on the right-hand side of your screen, boeing, caterpillar, apple, nike, dow dupont they're all dow stocks all on the upside. here is what is coming up for you, larry kudlow, top guy in the white house on economics. markets rallying after a trade truce with china.

by the way, larry kudlow was in the room at the xi-trump dinner. ashley: i want to hear what that was like. stuart: i want to know, i also want to know if 90 days is enough to iron out some pretty tough issues? he is with me in our next hour coming up on "varney". ..

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that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. stuart: exactly 11:00 in new york city, 8:00 in california. here's what's happening this hour. the market rally has faded a little. now it is near the lows of the morning up 200-point having been up for 41 earlier today. overall because we've still got the rally in place is this the start of a santa claus rally towards the end of the year? we'll answer that question. that's a problem. this rally after president trump in xi jinping reached a church in the trade dispute. they have 90 days to reach a new deal. coming up to my larry, what that's from the white house and i want to know if it's confident they'll settle these very tough

issues before the 90 day deadline expires. here is cleaning up after the worst riot with rising gas prices and a whole lot more. more than 100 people injured. hundreds of others arrested. the european parliament is going to be with us in this hour and i'm going to ask him. his next obvious europe is breaking up? i'll ask him about that. the nation is getting ready to say farewell to president george h.w. bush through the motorcade carrying the president's casket is heading to a military base in houston where there will be a short ceremony. the presidents casket will be placed aboard air force one and head to d.c. for several days of tributes and services. you will see it here live.

stuart: let's start with a 90 day trade terms of china. michael pillsbury is with us, author of the 100 year marathon. he is one of president trump top [speaking in native tongue] advisors on trade. michael, can they in 90 days fix the theft of intellectual property and the forced transfer of our technology to china. those are tough issues. can you fix them in 90 days? >> no. obviously the great triumph here is the starting of the talks at all. you have a long history, 40 years of moorish chinese are negotiating america. president trump may disappoint in in this book 18 years ago. now president trump you might say it their past nixon and henry kissinger in the successful negotiation with the chinese spirit is brought them to the table. he's got the subjects and people on both sides.

he's got president xi if you look at the chinese statement. he's given his instruction to work rapidly and speed up negotiations. >> this is quite astonishing success. there is a difference between the american side in the chinese side and what they publicly said about what happened here in the three-hour dinner. president trump said he is going to explain the details but out of respect to president george h.w. bush after the funerals are over. that will probably drive which you call the santa claus market even higher when the public finds out what president trump has succeeded in doing. strahan to have you any idea what the president has succeeded in doing that we don't know yet? >> yes, i do. stuart: can you tell us? >> no i can't. stuart: okay, but you're positive it's going to be good. >> larry kudlow is going to tell you something important. steve minich mnuchin laid out

quite a bit. it's quite important. peter navarro said this morning the lead of the negotiations will be bob lighthizer enough etiquette agreements done. steve mnuchin is more a case that is not the leader anymore. it looks like who's in charge of the associate dean. but that's good news because lighthizer and his team are the trade agreement professionals. it means we've left the field of the face you might say of talking about what will be in the agreement. now we're moving into real agreement negotiations of a kind of outcome type. this to me is that so important. chinese have agreed to this. stuart: they've agreed to the talks. progress is being made. at the end of the day light visors in charge.

at the end of the day, do you think china is going to change its business model? its business model is based on theft of intellectual property and the transfer of technology to them. can they agree to get rid of that? >> for president xi has been saying is that china is going to change its model. i expect myself just a personal guest president xi at doorposts will clean up some of these allegations as they say in china will hurt the feelings of the chinese people. stuart: wait a sec and i was just speculating up the top of my head earlier when i suggested maybe xi but what about most than open up to the whole world. is that a possibility? >> if he does go to top posts what he might say. he might say, number one, china's market is going to open up greater than any time in the past 40 years. number two he's going to have

more foreign services, insurance, stock rockers, venture capital firms. the whole range of what is called service as opposed to goods. number three, more purchases of agricultural goods. i hope he'll mention america because that's what come out of the dinner so far as you seen all the pictures of the rotting soybeans and corn and things ordinarily bought by china. this doesn't require 90 days of negotiations. president xi has agreed immediately to begin what president trump site called substantial additional purchases. this is very good news. stuart: very positive staff. they appreciate all the criticism and they appreciate president trump good cop bad cop by having both steve and peter navarro in the room and his son-in-law. they send a big message to the chinese that we want to

negotiate now. we don't want exchange subtle signals anywhere. stuart: michael pillsbury, very positive stuff. we appreciate very much. thank you. we will see you again soon, please. check the big word. we've lost half the rally but were up about 200-point still. joel shulman as does come entrepreneur shares managing direct there. we were up 440, an hour of 200 year to >> paste on your last guest and extremely up to mistake, very bullish based on the news your guests just broke. that news is extraordinary. we were up 5% last week based on said talks. the news of it comes true that they're going to make it new business model which your last guest just said, we're going to be way above 5% on the news. stuart: so you think this is a temporary pullback in or up to the after this?

>> i think if people are waiting for the announcement from cool carload later on and if news breaks out of the china deal. it's a 10 plus%. stuart: 10% for the market. >> for this month. possibly this week. we went up 5% last week just holding on the fed rate, which by the way they have been announced for december 19th we can get some of that back. this news on china i think it's going to be the single defining point of this administration. if they can pull off the new business model, i think this is going to be a big deal. it's not going to be a single day. talking about the week or the month. that's a big deal. stuart: any bargains left? pretty close to 26,000. >> you in the guest about an hour ago who was talking about nvidia i couldn't agree more. 44% am a strong in profits and revenues could face the very

much beaten. they came back last week is still down 35%. they have strong growth in revenues in the strong growth in profits. & co. a lot of people don't know but i pgp. down to 44% 46%. netflix down year-to-date. i do want to be too optimistic, but the china news comes through at the big deal. i think it the biggest thing that will happen to this administration. stuart: very bullish jerry shulman. do you own it? facebook, nvidia, all the other stuff you like. >> yes. that's what we're doing. >> come and tell us about it. we appreciate it.

thank you, sir. good stuff. i'm talking about oil for a second paid the price of oil coming off its worst month in a decade. this morning it's up about 3%. $1.50. one item of news on opec qatar bv in opec. they been a member since 1961. they say they want to focus on natural gas. here's the bit i like. nationwide now $2. down she goes. down 6 cents over the past weekend down 31 cents of the month. here is what's coming up for you. exciting times on "varney." larry kudlow is in the room is president trump and xi jinping ate dinner together over the weekend. i want to know what they discussed in private. will he tell me? he was hinted at by michael built moments ago.

will larry tell me? will see. a member of the european parliament in the studio reacting to the latest riots in france. i still say europe is finished. what does he say? watching your money of course are the dow industrial of 200 points. this is the third hour of "varney & company." larry kudlow next. so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. 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?

drain to deadly riots in parrots over gas taxes and anger at higher living costs. so far three people have been killed. more than 100 injured. 400 people arrested since the protests began about three weeks ago. come on in, please. the european parliament member who was with us in new york this morning. welcome to the program. >> thank you for the opportunity to be with you today. stuart: you know what i'm going to say. there's not much you can do to stop it.

rats are leaving, italy is bankrupt, france is in revolt. spain just elect at 12 super right-wingers who want out of your eye. you're breaking up. >> yeah, and we have to right now the europeans like someone waiting for some visionaries to get into new track. unfortunately right now europe is real leaders to have a vision, what happened after. stuart: you're quite right. i don't see a leader emerging who will pull it together. what i see as europe moving apart. >> we are looking -- stuart: you don't have much time. >> you're right. macron was going to be that guy but he's not. >> unfortunately you know this very well.

a new hope for europe, but it seems that since he was elected something wrong with his administration. these protests and we saw that the mainstream leadership for europe is going far, far away, which is very bad right now. stuart: you're from romania. are you a full member of the european union. >> they are not a member of the area. the one you are admitting to become a member of the european union you have to have some steps to fulfill some technical data. the mainstream leadership didn't find a way to put all the member states at the same table describes the process of

implementation. stuart: is there any feeling in romania that maybe we shouldn't be at a member of the european union. maybe we ought to get out. >> no common they are pro-european and then let's say someone who wants to be very strong. stuart: a great deal of money flows to romania, not out of it, but too it. you've got a vested interest. >> we still have hopes. we still have some hope that everything is going to change after 2019. stuart: that's a long way away. you never know how it's going to be. stuart: this is true. would have been if the birds, they're going to vote next week i'm leaving. they might just say we don't like this deal. it could be a hard brexit. >> it's very difficult to anticipate what is going to

happen in the parliament. but for us to anticipate about brexit. no one gave a chance, but again it's about the people, the ordinary people who voted. we have to care about the people, are people appear not to care so much about what they have promised into the campaign. stuart: f. i ask you five years from now, do you think the european union will be the same structure and membership as it is now? >> we have only one chance. assume they have to change something then they have two become much more powerful in the sense of having only one project. not several projects to respect the same countries like they are. stuart: can i say this. if you don't have that leadership, it breaks out. >> i'm afraid right now there's only one chance to find the best

leadership. stuart: okay. have i got that right? welcome to new york and think you're being with us today. >> thank you very much. stuart: next-door town this program, larry kudlow about the trade talks with china. what was said at the dinner. it went on for three hours. where is the common ground? can they get a deal in 90 days on these very tough issues? i'm going to ask him all of these questions after this.

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stuart: this really did start out as a terrific monday morning. the dow went up 441-point right from the get-go. that was because of this trade truce as it's being called between president trump and xi jinping of china. i was very good news for the market. we've come back down a bit still up 230 points. is very good news on the price of gasoline. become rainman over it. stuart: we've come down to $2.45 the national average for gasoline and there are now 26 state where you can find at

least one gas station worth $1.99. they keep on saying it. that has to be a significant shot in the arm for consumers has regarded the holidays. stuart: scott shellady says that that gives quickest way to get money in consumers products. stuart: manufacturing expanded at a much larger rate than dead. we've seen a little decline in those numbers and all the sudden here we are november. stuart: the trade issue. point out to our viewers that earlier today we spoke to china watcher pillsbury was an adviser to president john. he told us that there was more news out of that dinner with trump and xi to what we've heard about. he wouldn't tell us what the news is. larry kudlow was in the room during that dinner and a larry kudlow joins us now. welcome to the program. good to see you, sir.

what can you tell us about what was said discussed between president trump and president xi that the president knows about. i'm sure you know about it. can you give us a hint of what was discussed? >> yeah, almost everybody else in the world, make great condolences to the entire bush family. i knew president bush when he was vice president i worked for reagan. i ran a whole lot of areas for him. i also know president george w. bush rather well. bush was a great man and we are all sat at his passing. stuart: he was a great american come a wonderful man with a sense of honor and duty. that is something that has to be said. stuart: yes, thank you. regarding the dinner, i'm not sure what mr. pillsbury is talking about. look, let me begin --

stuart: let me return to that for a second. michael pillsbury said at that dinner, you were there. it went on for three hours, though some details were discussed about actual negotiations, specific negotiations about specific areas and he implied that progress was made. can you enhance that a little? >> well, i don't know. our relief, look i'll tell you what ever i can tell you. i just want to say on xi, president xi and president trump really had good comments. all this talk of their friends and so forth that not been on together before and they really have a lot of good chemist teri. president xi really carried the ball. so it went up the script but i think president xi made the

sale. there have been chinese commitments which secretary mnuchin said earlier today we hope will be turned into an actual treaty, an actual agreement. i don't know if this has come out yet. president 7972 was their commitments will begin immediately. i don't know that that point had been made. that doesn't mean we're going to cover in everything in the first three days. however, when it comes to the agriculture, energy, industrial purchases and so forth, and these are private-sector purchases were a tariff rates will be lowered and also non-tariff barriers will be lowered with respect to american ownership, for example, with respect to technology transfers, with respect to ip. those things should kick in soon. we should be palpable changes on

the chinese side immediately to quote mr. leo hayek. i think that's a very important part of this, which has not been discussed yet. stuart: would that be including dropping a 25% tariffs that china imposes on our soybeans going to china? i think at the moment the tariffs are still in place. are you telling us that they are immediately very quickly they are going. >> i don't want to be too specific, but the generic answer is we will see changes very quickly. you mentioned tariffs on soybean. the issue of rolling back tariffs was raised another meanings robert breitweiser, and and -- lighthizer, steve mnuchin or he indicated the tariffs would be rolled back as did the non-tariff or years. i want to say this. i've always believed this.

if china opens the market than i was one of the clear point president trump made at the dinner saturday night, if china opens its market as they promise to do when they're going to do it fast according to their promises, and we will increase our exports substantially for the simple reason that whether it's agriculture or in the area, the u.s. is the most competitive efficient economy in the world today as a result of the progress measures taken by president trump with lower taxes and a regulation and so forth. we outstrip everybody when it comes to competitors. president trump once to see a lower trade gap. he's ready. i believe increased export will start immediately, quote, unquote accompanied by reduction of tariff rates in non-tariff barriers. we should see results even in the 90 day. which is being discussed in the

president is suspending the 25% there. stuart: i floated this earlier today on his show, the idea that xi jinping might go to download next month and make a statement about opening up to the world. michael pillsbury reiterated that. i didn't prompt him. he came up with that as well. is this a possibility? >> yeah, you are speculating. i can't comment on that. i don't give president xi daily schedule so we'll have to wait and be. i'm sure they're anxious to an end be very interested to get it i can't shed any new light on that yet. stuart: how about shedding new light on the 90 day deal here. how confident are you then in 90 days we will have a deal for emulating on intellectual property and the theft of our technology? >> yes, let me answer that a

crucial ingredient in a the issue of ownership of the american companies. coming up in the talk that was discussed we will get majority ownership for the first time and that's a very important aspect that will stop presumably the forced transfer of technology in the other points made about ip theft. will we get a dollar 90 days? i can answer that. we will be very tough regarding enforcement and regarding the progress and timetable of these talks. we will not let this meander and wander on forever and ever. the 90 day timetable is something we've never had in our prior discussions with the chinese and i think our team that lives, our side will try to implement that. i don't want to make any predictions. i'm just saying that timetable men are and the immediacy of their actions matter, the broad scope both structural as we discussed as well as the tariffs

in the lower tariff barriers. all that needs and we will be tracking it. we will be tracking it because we've had promises in the past for china. the promises have not worked out. in the spirit of goodwill and again, president xi's amazing presentation to president trump saturday night in a positive optimistic spirit we have strong expectations. but we must track this. ambassador alain kiser will be tracking this very, very carefully. the history here is not favorable, and the president xi's presentation and the chemistry between him and president trump was so great. i don't want to forget this important point to the united states. president xi also agreed to label or re-labeled this terrible opioid. he will put this a controlled substance and is part of this overall agreement means the

worst punishment possible will be applied to. stuart: one more very big picture question if i may and that is this. we've been told by a variety of people who look at these talks, trade analysts, that the real progress being made is that china is actually talking about specifics. engaging in a negotiation which is specific in nature and not all over the place. you agree with that? >> that's a fair point. i do agree. listen, we've had communications in the last several weeks before the g20. i must say some of those cables that better than what we've seen in the past. again, the timetable is important. my point about the immediacy is important and of course president trump waving a 25% waiver in a 25% tear of this terribly important.

we haven't had those kind of details but it all must be monitored. ambassador alain kiser will be talking about that. it's a huge point. it must be monitored so that we know we can turn these chinese commitments and i think the chinese for those commitment, that they can be turned into a real trade treaty. that is the endgame. even then, it must continue in the very start basis. stuart: one last one. jobs friday are we going to get 250,000 new jobs are close to it? i don't know why you're smiling because i presume you one answer the question. >> my hand to space. the u.s. economy is in terrific shape right now. absolutely terrific shape across the board. i remain very optimistic and therefore jobs which have been strong and i expect them to continue to be strong. i don't know about every month. you're a smarter about that than

i am. i would just say the american economy looks very strong. you've never heard this to me before. i'm going to give you breaking news. lower marginal tax rates provide strong economic growth incentive. you've never heard that before for me today. i've saved up for your program exclusively. stuart: what a guy. larry kudlow, the man himself breaking news. always a pleasure. thank you for being with us. >> thank you, appreciated. stuart: i might have during the course of the interview we went from a+ 190 2a plus 250. maybe larry put a little enthusiasm behind the rally. which are looking at now, the motorcade during the casket of president george h.w. bush is at the airfield there, ellington

and houston. there will be a departure ceremony they are. air force one which he adjusts on the back runner, which by the way has been renamed for this occasion, special air mission 41. that is the renaming of air force one. that carries the casket to d.c. hillary is on nbc with us now. tommy what happens when the casket arrives in d.c. take me through it, hillary. reporter: it's going to be a three-hour trek here but i do want to walk you through what's happening in ellington. a 35 minute ceremony. you're going to hear a him start and when that begins casket will be carried into air force one being graded by former president and son george h. dubya bush. george w. bush and also his grandson is there. they will join with other members of the family the journey here. national air mission 31 when it arrives to join andrews air force base around what we

believe will be 330 perhaps later. they will then order came here to the capitol rotunda, which is just over my shoulder. then there will be a private ceremony there that will be held which should last about an hour. they'll then close the rotunda and open it back up for the public at 7:30 this evening were president george w. bush will lie in state court 45 hours. the other thing i would point out is the united states secret service detail that was a part of former president george h.w. bush detailed is with him now and it will remain with him until he is laid to rest. stuart: thank you, hillary. that could make one comment if i may. passes not a sad case. >> celebration of an amazing life. stuart: celebration of an extraordinary life so well lived

with honor and duty rather and duty rather than as forefront. that is the world war ii generation. that is what we celebrate today. joining us now, fred barnes, executive editor of the weekly standard. ashley and i talking here say this is not a sad occasion. a celebration of a life well lived. i think you join me on now. >> i join you a lot on that. george h.w. bush was a lovely man, a great father. you know, he did all these small things that people do. all the little knows he would send to people. i once had lunch with them in the white house or there was a lot of fun, delightful thing to do. he wanted to like some people in the press than he did. i don't think i was particularly one of them, but others got to know the bush family very well. most of the prius treated in not

like they treat president trump, why is the act seemed like a texan and so on. but, i think president bush was exactly on that to himself. he went to texas he went to west texas. you can't fake that. stuart: i was watching james baker, prominent member george h.w. bush cabinet. james baker said george h.w. bush, bush 41 was probably the best one term president in american history. i don't know that much. maybe no more. but more. but it's something that's got a ring of truth. >> it does. i'd have to think back over all our presidents. it does have the ring of truth. the way the press is playing

this as he was a wonderful guy but he wasn't a great president. i don't think we can measure the greatness are not as president bush he had. he hasn't been out of the white house that long. when we look back, we obviously know that deserts dorm after tsunami singh took over kuwait that was very important. i still regard the nomination of clarence thomas to the supreme court is one of the most important things that's happened to the court in decades. and there are many other things. i think we will have to wait to judge him on his accomplishments. stuart: hold on a second. what our viewers are watching on the screen now of course is air force one. that has been renamed special air mission 41. the motorcade carrying george h.w. bush casket is approaching as you can see. it will roll up to air force one and the casket will then be

taken from the hearse and put aboard air force one. now, we thought earlier today technicians removing the seats are some of the seeds from air force one so that the casket could be carried back to d.c. president trump just reading this. looking forward to being what the bush family to pay my respects to president george h.w. bush. that is just in from the president. here comes the motorcade with the hearse in the casket arriving at ellington field. just outside of houston. a momentary ceremony at the cat get, the bush family there will actually participate in the ceremony of taking the casket aboard. the families escorted to a position near the hearse by major general howard by the way. honors are rendered. i will be held to the chief simultaneous 21 gun salute. the casket carried through the

military cordon placed in the aircraft and the family has escorted onto the aircraft. the bush family concludes its participation in the ceremony and then proceeds to the aircraft and boards. the aircraft that would be now named special air mission 41 will take off at 12:00 noon departing for d.c. at three hours and 30 minutes. you can see the motorcade. fred come you're still with us. >> ibm. stuart: again, i have to return to this. i don't see this as a sad occasion. i see it as a celebration of a truly full and wonderful life. the disappearance of the world war ii generation is sometimes called the greatest generation and for good reason. who among us hold the same without use of honor and duty as the world war ii generation held? i'm a baby boomer.

the values have shifted. my generation has shifted those values perhaps away from the values george bush held as a volunteer in world war ii. would you say? >> what i say is i think you've described bush accurately and moving away from those values is now a better place that's for sure. i've been running through my mind about the other one term president going back to what jim baker said that he thought his great friend, george h.w. bush was a one term president. think of jimmy carter, herbert hoover. think of warren harding and so on. i hadn't found one greater or better than george w. bush so far, george h.w. bush. stuart: there you have it on your screens. a solemn occasion. it's not joyful. it's a celebration of a man who

may -- ashley: a remarkable resume the very few could make. stuart: he volunteered on his 18th birthday, june 1940 -- ashley: thereabout. stuart: 18 years old any volunteers or do you want it to be a pilot. within 18 months he's gone through training. he's on an aircraft carrier in the pacific carrying out missions. and they shot down and rescued after four hours in a life raft by an american submarine. and then, when the war is over, he marries, goes to west texas and starts a rather new way of drilling for oil and is very successful. then he runs for congress, sales and runs for congress again,

sales. he gets picked up by richard nixon in beijing, first american guy in beijing during the mao years. and then he runs the cia and then he becomes the vice president to ronald reagan and then he becomes the president of the united states of america. i don't believe he ever expressed his disappointment at being beaten by bill clinton in the election of 1992. would you say, fred? >> i think a pretty good capsule of his life in washington and in particular where he had every job i could think of. remember when he lost to bill clinton, there is the third candidate in their. particularly not from clayton. stuart: you mentioned earlier how the press had a go at george w. bush and that's definitely true.

maybe 25 years ago after he was no longer president. i did say to him, you know, it seems like the media has got it in for you. mr., you've got a point right there. i am sure he felt some sympathy for president trump who was really taken a much greater pounding from the media. >> his relationship with no clinton after all that was remarkable. they truly have been very good friends. both having a great sense of humor by the way. >> they have been with president bush thought he saw third quite well at the heads of the press. i don't think president trump does. i think there is some lessons about the style and tone of president bush. not all of it, but some of it president trump i do pay attention to. stuart: we are going to stand down for a moment.

we will let you hear exactly what is going on there on the ellington field tarmac as the hearse is about -- i'm sorry, the casket is about to be on board air force one. we will listen in for a moment. [background noise]

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stuart: just for the benefit of our radio listeners, we should tell you that the casket has arrived at ellington field. it has arrived the steps of air force one now called special air mission 41. the bush family has lined up to pay tribute as the casket is taken out of the hearse, which is what you're seeing right now. it will then be transferred to air force one. we believe that there is a ceremony about to take place, a 21 gun salute in brussels in florida shows and hail to the chief. -- and florida --

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stuart: for those of you who may have attended a funeral, and you recognize this song that was laid bare. it is eternal father strong to save. it is often associated with funerals and in particular naval services. particularly solemn and sad hymn played moments ago. you just saw george bush 43 and the other members, laura bush and the other members of the bush family will accompany the casket on that plane. i keep saying this, but it has been renamed. it is not air force one today, it is special air mission 41.

i think there was a poignant moment they are as the family windup to a week the casket. there was bush 43, former president, lining up, watching the arrival of his father, bush 41. i don't think we'll see that . stuart: the idea of a father and son president. >> we talk about george h.w. bush's remarkable life. we also forget to mention his son became president on top of everything else. stuart: on top of everything else. bush 41 presided over the fall of the berlin wall, reunification of germany and how it would react to the reunification of major power center of europe. >> he had a lot going on in his one term. stuart: he certainly did the first iraq war. >> yes. stuart: he threw saddam hussein out of kuwait and successfully

prosecuted that war. fred, you're still with us there, you're watching all of this. >> i have. stuart: i think president bush was particularly successful in his handling of foreign affairs because major foreign events took place in his four years. >> they sure did. the wall came down in berlin. two, we've been talking about desert storm and freeing kuwait. and then there was something that nobody how the, i think even in the bush administration was possible so quickly and that was the unification of germany. stuart: yep. >> which has been a remarkable success. stuart: in the face of the collapsing soviet union the wall came down in november of 1989 as i recall. >> yes.

>> gorbachev was in power in russia. they ripped it to pieces. it was george h.w. bush, who handled what could being extremely difficult situation. ashley: volatile. stuart: i'm told he handled it by personal diplomacy. is that accurate? >> a lot of it was for sure. a lot of personal diplomacy, he like ronald reagan, had a great relationship with margaret thatcher the prime minister of england. and most of the leaders in europe. it is something donald trump hasn't developed yet and may never but it was something that was really crucial to president bush but he had been in jobs, the cia, ambassador to china, jobs where he had gotten to know so many of these people. and of course one of his great achievements putting together that huge coalition of countries that really carried out the war

we now know as desert storm. stuart: fred, thank you so much for being with us on an historic day. we really appreciate it. ashley, thank you for all your support here. all good. a remarkable day. you've been watching it. a great man. a great american. connell mcshane in for neil connell: the body of the former president is loaded on what we associate with presidents, air force one, it is been especially designated mission 41. joint base andrews by later this afternoon. we'll be watching coverage of this throughout the day, alongwith the n