tv Varney Company FOX Business February 6, 2019 9:00am-12:00pm EST
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sweet 16 at the rex manner but what had is the secret to good pizza dough ruth? >> i think good dough is crucial are it's the the toppings -- get you there they matter -- but absolutely i can throw pizza like this we don't move it the same way you're talking about. but we're not in new york. >> ruth you're great thank you so much for joining us which can out pizza -- thank you so much everybody "varney & company" begins right now. stuart i wish i could offer you a piece of pizza right now. whanch you don't know is i can too throw it and make it flat. >> you do knuckles, knuckles, knuckles? >> no response to that question whatsoever. [laughter] i'm just going to get on the board to news if money and politics. >> stuart varney -- >> thank you very much. stuart: good morning maria and good morning everyone. the president delivered, i think, a message of unity. an appeal for unity, with there are two parties he said but one
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nation. the democrats were having none of it. the president olive branch met with scowls, eye rolling and a speaker pelosi non chai langtly read her notes. i guess that to be expected when half his audience will be working furiously against him in 2020. the president said, america is an economic miracle. senator sanders didn't look happy with that. the president said the state of our union is strong. speaker pelosi shook her head. he said walls work. walls save lives. stony faces on the left. he said tolerance of illegal immigration is not compassionate it is cruel. i don't think anyone k3-79ed a positive response to that from the left. you get my point here. a call for unity it looked to me like democrats rejected it. but there were some fine moments of harmony, respect, and celebration. did you hear the cheers when world war ii veterans were introduced? and also for astronaut buzz
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aldrin you're going hear him a mile away. a raw when president recognized newly recognized women in congress more now than ever before and spontaneous happy birthday for holocaust survivors also present at the a pittsburgh shooting. one last point, and please indulge me on this. the president said americans are are born free and will stay free. america he said will never be a socialist country. yes, sir. okay i've had my say that's my take on the "state of the union." now watch this. >> i stand here ready to work with you to achieve historic break throughs for all americans. millions of our fellow citizens are watching us now gathered in this great chamber. hoping that we will govern not as two parties but as one nation. wages are rising at the fastest
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pace in decades and growing for blue collar workers who i promise to fight for they're growing faster than anyone else thought possible. nearly five million americans have been lifted off food stamps u.s. economy is growing almost twice as fast today as when i took office. and we are considered far and away with hottest economy anywhere in the world. not even close. [applause] unemployment has reached the lowest rate in over half a century. our economy is the envy of the world. our military is the most powerful on earth by far. america is, again, winning each and every day. [applause]
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members of congress, the state of our union is strong. those were some of the highlights from the "state of the union" message joining us now liz peek foxnews.com columnist what was the best moment for you? >> i love that we went after socialism that's something he's talking about in the 2020 campaign. but i think had he did two things last night. first of all, he went become and appealed to most americans who are proud of their country. proud of their history. proud of the moon landing and world war ii. and that we saw in the polling today 76% of the country approved of his speech. and a enormous number of of independence that's what he had to do because his polling has been negative after several contentious weeks but secondly he laid the groundwork for the 2020 campaign. not only socialism talking about these really horrific bills
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about abortion which he took on and, obviously, the left did not like that whatsoever talking about about the economic accomplishments of his white house. i thought he did a great job of sort of laying out the program and by the way, sticking to his guns on immigration. that was something that i think a lot of people hope that he would have a plan sort of olive branch last night whaing he did cleverly was turn it over to people in that conference committee working on a plan and the border patrol. more than once he said, basically let's let experts figure this out pings that's the best plan forward. >> i was intrigued that the president was upbeat, positive, a lot of smiling. >> yes and that made democrats look negative. scowling -- and unhappy. >> and let's i agree and let's include who they had in the audience, gallery truch had wonderful heros and people that we're all proud of like the world war ii veterans so forth. who did the left have?
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people who are working illegally for the trump organization or -- i can't remember all of them but i remembers it was such a contrast it was sort of like bringing water gun to a shootout in the corral it was ridiculous. smtion it was weak. more from the "state of the union" message last night president trump speaking about the economy. roll tape. economic miracle is taking place in the united states and only thing that can stop it are foolish wars, politics, or ridiculous partisan investigations. [applause] e let's pick up on that ridiculous partisan investigations. brad is here former ?angt to bush 43 is there a connection between vigorous investigations, partisan investigations, and the state of the the economy? >> absolutely. because it gets handcuffs the president.
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it retards his ability to govern to govern effectively congress is fine. they should do their overare sight but so singularly focused we can't get anything done they're not governing but they're investigating that's not what they should be doing but acting in good faith for the president who was duly elected. they were against this president from the beginning. it continues to resistance. the the president used it that in the "state of the union" that word, specifically -- but they don't give this president a break he can't do anything right so they therefore do nothing. >> was there anything in the speech last night to bring some democrats closer to him? >> absolutely he talked about immigration. he talked about prison reform he talked about a lot of things that democrats should have rose it their feet. the women suffrage you know, the only rose to their feet when it was about them. they didn't stands up when it was if us. pfnlgt half of the united states senate that's an exaggeration. but a lot of members of the senate are running against him in 2020. you can't expect them to allow
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him any legislative victory. they will oppose him on everything because they have to. >> well, i don't think -- thinking in their own political interest not the country. >> the good news is that we have enough in the senate with with our majority that we can leverage democrats because democrats a lot of democrats elected in trump states. and what the president needs to do is play a little hardball as we move into summer and then 2020 heats up start visiting those states. educating those voters about their senators and representatives who have not act ad in good faith. not only for the country but also for their states. >> okay. brad hold on a second thank you very much tin deed good response there. i want to get to your money there because frankly i don't see much market reaction to the "state of the union" last night. here's how we're going to open interesting, though, going to be up.
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okay 17 points, but this follows a long, with long rally that this calendar year 2019 is taking the dow up 9% already and nasdaq is up 11% already. we'll open a bit higher than that this morning look at disney better profit. better revenue that costs were up. parks and abc did well for them. the stock is nicely higher one and quarter percent at 114. big stock, big company, disney up this morning. arts, video game make or, sales and profits fall short their latest big game battlefield five failed to meet sales targets and look whapsd. down 14%. that's a whopping great decline for electronic arts. a lot going on with china trade, our top negotiators treasury secretary mnuchin top trade guy lighthizer heading to beijing be there this weekend no decision on a trump xi summit at this point. but china has agreed to widen the discussion to include
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cyberhacking. that is new. liz elizabeth macdonald does all of this, does this i think this is clearly positive. >> it is positive. happy ending. well, here's the thing. well china just say stop it and that's it? because here's what china is demanding of u.s. companies you want to cloud server, to operate with our businesses, that cloud server beijing has to be situated inside china all foreign company so talk a lot a about cyberhacking that they will do thingses to stop it. when you get to the nuts and bolts of it and making that demand then that means hacking could continue right because all companies have to in china have to adhere to their national security victims. whanch you got. that's the major sticking point to if you have to have your server physically in china it is wide open as we know. the fact that mnuchin and lighthizer going there trying to get ground work in but i truly believe that something is going to come soon and announcement of the meeting between xi and
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mr. president trump. >> wouldn't that be good? good for the market. people are boying the rumor you sell in the fact -- right so you see a meeting announced i think that market goes up. let's see. all right this morning we're going to open just a little bit higher for dow industrials remember we're up 172 yesterday up a dozen points this morning at the opening bell now this -- analyst of morgan stanley says we could start seeing flying cars sooner rather than later. now, look we've got issue ors with self-driving cars killing pedestrians we've got drone shutting down airports. and i'm not sure really ready for flying cars but subject will be discuss ised and that's a promise. more on the "state of the union," president trump laid out his case for border security he says walls work. but did he get any democrats behind him on buildings the qawl? good question -- we'll answer it too and this was a very special moment last night. the president's invite the
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president invited him to the "state of the union" as his guest, he's a survivor of both the holocaust and the tree of life synagogue shooting yesterday was his 81st birthday. watch what happened after the president recognized him last night. [happy birthday] [applause] mutual customizes your car insurance, so you only pay for what you need. over to you, logo. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest.
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>> let's talk immigration and listen to what the president said about it last night. roll tape. >> simply put walls work and wallses save lives. so let's work together, compromise and reach a deal. that will truely make america safe. >> walk together, compromise reach a deal come on in andy biggs republican congressman from the border state that would be arizona. did the president move the needle on support for a wall last night? >> well, i -- i think people are pretty well locked in. i didn't see a lot of people, i was sitting on the democrat side i didn't see a lot of people jumping up applauding that. from that side of the aisle so -- you didn't expect that did you? >> no. i didn't. i didn't. so i'm not sure he moved needle that much but i think in some instance he's trying to make a case to broader public he's speaking to public about issues on border that's what i think he
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was trying to do last night. >> did he move that needle do you think public opinion is swinging more towards a wall that used word repeatedly a wall. >> yeah. i hope so. i mean, i looked at the approval numbers this morning, and it was a great speech. and this was nested right in that speech and so hopefully -- it created some positive ringing in around this issue as well. >> the road to a wall is really very narrow isn't it? you don't have much time to get a deal to build the wall. you've got no suggestion of money coming from the democrats to build a wall. in fact, it look like with tunnel vision you're moving pretty close to a declaration of emergency. >> right. stuart tiff to agree with you. see, i think we have a real problem getting money for the wall in this next -- it is going another short-term spending bill i can guarantee that but i don't think you're going to get wall funding in there but that means that president has to -- take executive axon the border which he can do. and i wish he would do because
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every day i met with border patrol agents and i'll tell you every day that we wait we've got more and more people coming in more drugs coming in more violence only border so -- >> isn't there a meeting of border -- border professionals, border security people, i mean, border patrol people aren't they getting together with democrats and a republicans isn't that the case? >> yeah i'm not sure how involved border patrol is at the line agent level because that's who i talked to i tack to people who were actually agents on the border. and so some times there may be a disconnect between management and what's going on. i think that the real experts are wine agentings on border that custom agent as on border. i think that the i.c.e. agents on border and then they're enforcing the interior. i don't know you know sometimes you get this -- these groups of elite or experts together and they -- they produce more than my produce afnght. >> oh, e dear looks like we have
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a jam on the wall -- that's okay. that's okay. thanks for joining us we always appreciate it. see you again soon. >> see you. where do we open the market? look flat to slightly higher. we've had big gains in recent sessions, we'll be just a fraction up at the opening bell this morning. more problems for senator elizabeth warren. the washington post reporting that she claimed her race was american indian on a form she filed with a texas state bought back in 1986 by the way, did you know she's worth $4 million and she proposes a wealth tax? we're on it. what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform.
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>> senator elizabeth warren indicated that her race was american indian, this was in a handwritten registration form filed in 1986 with a texas state bar. and new financial records show that she's worth somewhere between what, 4 million and 10 million dollars. as she's calling for a wealth tax. liz peek held over for another block with uses now. so she's i believe she's going to start a presidential campaign on this weekend, i believe. >> i think it's over before it starts honestly thing latest revelation of her abusing
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affirmative action programs to promote her own self not doing for someone else's gain but herself so i was told this could constitute fraud basically you're supposed to fill out a form she filled out in texas you attest that everything is true. we all know she's not and american indian as she claims she is someone who might have a drop of american indian blood. but even forgetting legality for a moment. the fact that she is abusing affirmative action, a program that is meant to help people who need it to further her own am bigses and future, i think it is so appalling i think she's actually this is it. i think it's over. >> yeah. the cherokee indians groups are saying you know, being american indian is rooted in centuries of culture and law not through dna test. you have to be living as an american indian. >> l shameless gaming of the system as we were just talking
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about, and as i said to liz earlier you know it is finally come back to catch up with her. what brings a sign 1986 talking 33 years ago. >> it was first time finally caught up with her. >> also this wealth business, i mean, center called for a wealth tax. >> i covered irs. she's wealthy. i covered irs for decades they are upset inside the irs that the lunatic with the tax code every yore and to collect this, and to ascertain wealth, even countries in europe ditched it because it is impossible to do that. you have to pay more for the the bureaucrat ares than that wealth tax collect. >> not to mention it is not constitutional -- to cease what is not -- >> to your point this is actually what got macron in trouble in france why did he do it? because it is completely unins forcible a complete mess by the way let me say for the record i don't mind elizabeth warren having made money that's what this country is all about if you're ambitious and smart make
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>> this is a time when we start to check the level of the dow industrials. closing yesterday at 25,400. remember please the all time record closed in 26,800 so less than the record high off we go 9:30 eastern time we're running here question go. up over 100 yesterday we've opened on downside a little bit. and i see a lot of red on the lngd side of the screen. that's for sure. this moment we're down 30 points. that is a fraction of 1% .15% down 38, 39, 42. here we go down 41 okay there's where we are on the the dow. down .16%. s&p 500 is down 1.3%. and nasdaq composite is -- up, of course, we'll take it -- i call it -- 01%. look at disney please better profit. better revenue. parks and abc doing well for
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them okay cost but the market kind of likes that report. up a buck at 113 dollars share. big feck all higher xepght for microsoft, apple is at 175 amazon 166 facebook 171 alfa bet 1152. microsoft town just 30 cents at 10692. jack howell is here, shah gilani is back host elizabeth macdonald is here and ashley webster shah did mr. trump say anything to move the market last night? tivelgt no unfortunately i don't think so. if anything he walked back a little bit on china and market would be stronger today if he said something more positive. and say we're going to have a meeting. i think to contrary the negative that he's going to face in terms of getting resolution to issues -- many in all complicated i think more or less tried to walk that back gently. >> he said or there are structural issues that need to be overcome with china trade deal. >> that's the big issue. huge deal.
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now we do have some positive movement on china trade today. lighthizer secretary mnuchin they're going there this weekend superhigh level talks. i think that's a positive. and a the chinese have agreed to include cyberwarfare cyberhacking. in the talks, although those are positives aren't they? >> i think they are and i think there might be a deal in pretty near future when i saw them deliver what looked like a trump -- a speech for trump,ic flattery with this president kind of gets you everywhere. i think there are pretty positive terms right now. and a there's a myth to be a total comprehensive deal that answers every question. it doesn't. it just needs to be a cease-fire on tariffs and we can solve our problems going forward. >> that's a very good point it doesn't have to be a total comprehensive on everything. >> i agree with jack 100% i think that's what we get and market will move higher on that. >> excuse me buy rumor and sell on the fact. i mean because well markets start to go down otherwise it is a sweet --
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with 1200 points. >> you have to i say if there's a meeting, it is positive and i think that market responds -- wouldn't you go with that? wouldn't you? disney in the news, they have a profit report late yesterday i think it was. okay high per profits, revenue good costs up. now what i'm interested in jack howell and you know about this. is streaming -- this is going to introduce a streaming service. you have exclusive interview with bob ieg per not too long ago is there streaming service going to rival netflix? >> netflix has a big head start a big head start there's researchers showing what had people do on streaming services you know once they look and have an opportunity to buy a second one maybe they get the second one will no one gets a third one so you have to be that number two if not that number one. netflix is clear number one right now, and amazon disney in reverse. amazon used to be about a story stock today people want to see profit and stock go down. disney used to be a rely public profit stock and now a story
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with a netflix streaming service remains to be seen whether they reward them with a better evaluation. >> they're late to the party -- >> a long time. they're going price themselveses a little bit below the next price. and they've got content like -- disney stuff. >> polls are showing people have streaming accounts. what another account to manage in my house. technology they're taking a lot of content away from netflix and so is everyone else getting into the streaming game so netflix has to go to its own. >> lastward on stock it's about the cost if the cost continue to rise, stocks get a little bit of a hitting here. >> we hear it. let's look at apple please where are they this morning? >> ahead of retail leaving angela, she was at apple five years -- before that she was at barbery is this a big loss for the my? >> they have a deep bench and i've been a fan of the show for a long time i haven't seen any
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change or improvement really so i'm not sure exactly what she brought to the table. >> she ran stores. >> yes. she ran them. >> phoneses are exciting enough you can sell them out of car trunks and stocks do well. right now phones are not enough. we'll see what happens a in the fall. >>by the way, we briefly tipped over into the positive column. and we're there. okay dow is up 3 points i'll call this -- a dead flat opening and i think i'm accurate on that one. how about fox business parent that would be 21st industry fox profit okay stocks virtually going nowhere six cents share up that's right four cents share up. general motors that's a stock of the day. they're making money especially with pickups and crossovers. the the market loves it. they're up 2% general motors crossing 40 dollars per share. the drug maker lilly their profit missed the mark down just one percent. better profit at the health insurer humana that stock is down four bucks so trying to
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explain that later. the video game maker, take two -- they gave a not so rosy forecast they make the popular red dead redemption game down a whopping 11%. you know it was a rough holiday for video game maker electronic arts. their latest big game battle field five, failed to meet sales targets. the company cut its outlook down it goes, 15%. surprised? >> such a darling century now and numbers on games are huge but free are to get into and they make money from inside the game so some of the big titles the market has being crowded. i mean so suddenly it is difficult. >> picky, though, battle field five sold 7 million games over holidays. red dead redemption 2, 17 million so they already reduced it their outis look and they failed to even meet their reduced outlook so that will be -- >> to be sold. the moment --
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about this entire industry the truth shah gilani have you ever bought any video game stock? >> never. never. thank you. >> the story to this one this stock is down 50% from the july high to e december lows now down to about 20%. getting that back today. and stock you know which anticipating that you know revenue weren't going to be there and this game qub a failure so -- >> all been amazed in these that video game. >> it is astonishing the competition is intense too. >> there you go. this is a story at the time -- interested in -- morgan stanley widely followed autoanalyst says, flying cars -- flying cars -- are tbaining traction they'll be here sooner rather than later. hold on a sec. >> they need traction if they're in the air. very funny. we have with problems with with organizing drone it and problems with driverless cars there was a fatal accident in arizona just the other day and now, we're supposed to see flying cars in
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the near future. wait a minute this is nonsense. >> this is nonsense and rubbish you know heavy had snow, rain, fog, and sand storm object camera on a robot car why wouldn't-tell you to do the same for robot and taxis right so when they sent out these light beam by laser sensor and snow particle we're not there yet this is overly optimistic. >> we have flying cars i remember reading popular mechanics in the 60s we have flying cars back then and a mass marketed i doubt that because how do you control that? >> adam from morgan stan isly i like him forward thinking this was too forward for my taste to drive themselves before we talk about them flying themselves. i think no matter what you think will happen you look at gm, with there's a tesla inside of gm that i think is -- better than tesla and they happen to sell highly profitable in other words into self-driving car to make -- >> tests them in warm state like
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in arizona and california but telling you the weather is an issue for robot vehicles. >> anybody around this table l buys a self-driving car -- i can see them, and car services, but are you going to buy one? are you going to sit in the passenger seat in your garage an you're going to tell it let's go down to fox and garage door will open and car will -- you're going buy one of these? >> i can't do it. >> people won't own cars but you call for the the car and they show up. >> they'll drive it -- my producer just said that i personally made the market go south because of the negativity on flying cars. nonsense. [laughter] okay are we saying good-bye no we have one more. the "state of the union," president trump says investigations could derail the economy. what do you it say? >> of course. look -- if you want to know whether something efnghts market you look at history something like
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the benghazi investigation which lasted longer than 9/11 nothing happened to economy. >> oskt not. >> investigations will not affect the economy. shah gilani? >> yes. investigation of hillary clinton. [laughter] >> no -- you know are it. moment of jolly -- time is up. okay thanks very much shah thanks very much jack you're all good. check that big board now down 50 points dow industrials look at the level 25,361. now this -- senator bernie sanders going after wal-mart again. heels not happy with their new plan to offer sick pay to employees it is not enough. he says -- and president trump playing up the the the country's economic success at the "state of the union." the democrats react with eye rolls and gears i want to know. why can't they be happy about our booming economy? come on, why not? what's wrong with you. more varney after this.
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breaking news from the trump campaign, the president will hold a rally in el paso, texas on monday. el paso on southern border looks like the president is going to barn storm only walsh just like he did with tax cuts. we're going to get direct comment from the white house in our 11:00 hour. on that story -- check that big board now we're down 40 points the level is 25,370. look at this another all-time high for boeing and that movement up for boeing at 410 that's giving the doug an extra 12 points okay so 410 now on boeing. senator bernie sanders taking direct aim at wal-mart. >> yes finished with amazon he's setting his sights on wal-mart now which by the way wal-mart changed their time off their a
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leave policy, and basically he gets six days for emergencies and illnesses every year and a plus every six month ace crew five dayses to use for unexpected absences not enough or for mr. sanders who says no, you still need to give workers more flexibility and you should also be paying them 15 dollars an hour. he says, quote, if wal-mart can afford 20 billion for stock buybacks to enrich wealthy share holders it can raise the pay of all of its workers to a living wage. >> never be enough. never will it ever be enough? last nights in thes they were not cheering on our country's economic success look at this. >> and we are considered far and away the hottest economy anywhere in the world. not even close. [applause] i think we need a dose of charles hurt and washington times opinion editor.
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look i'm not surprised by this. and frankly appalledded our nation is doing very well all of our citizens are doing well in this booming economy. i would have thought that democrats should have supported it. >> yeah, absolutely stuart and it really does go to the heart of -- you know, it explains exactly how if broken washington is and how partisan everything has become here. the idea that you would actually have people sitting on their hand last night when president talked about successes of i.c.e. stopping child trafficking. child slavery at the border, and you have people sitting on their hands it is just astonishing but i have to say overall i thought the president's speech was -- one of the best "state of the union" addresses i've ever covered. it is one of the best speeches i've ever heard in terms of reaching across the aisle and forcing the the the other side to -- to find unity talked about
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america will be a socialist country and bernie sanders all down like somebody stolen his tricycle you look upset about that but amazingly chuck schumer you saw nancy pelosi nancy pelosi is more dutiful as she were clapping but chuck schumer not boing to become socialist and, of course, there was a -- other moment where what i thought was perhaps the -- the finest moment in terms of bipartisanship was when he started talking about women in the work force how women had taken -- 58% of the new jobs created by the economy. and the women who were clearly there to sort of stand in protest that the president they couldn't help it but get into it, and -- and give do applause i was impressed by that. all had to do with the way the president presented those issues. >> i want to touch on an issue which we don't cover on this program but which was raised last night and frankly, i want to raise are it now and that
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issue is -- late term abortion. now it has been very much in the news recently and the president spoke about it last night. and i'm appalled the very idea that you would execute a baby that has been born. i can't see that but the democrats seem to be onboard with that. and that to me is absolutely appalling. >> it should be sort of a clarity in moment in this country when you have a governor of a state and you have a lawmaker in a state and -- where they -- offer legislation that legalizes something that put kermit in prison for the rest of his life and you can call it whatever you want. you can call it late term abortion whatever you want. butlet be clear, it is killing a infant as infant is being born, and we have a govern in virginia who -- who was defending that legislation. and you have 20 cosigners of that legislation in virginia. and i'm with you.
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i tend not to talk about this issue very much. but this is -- something entirely different this is not about the issue that we normally talk about when we talk about whatever you know women's rights or abortion or whatever. this is an entirely different animal. this is -- outright murder, and kermit is sitting in jail for the rest of his life for murdering three babies in this -- in this manner. and the idea that -- that something you can't not talk about. it gets to the point it's so shocking that you can't look away and pretend like we can't have that conversation. >> precisely charles i would reach that point web and last night was the breaking point. got to raise the issue. just got to. and charles thank you very much for doing that for us. i appreciate that. thank you very much indeed. let's get become to your money real fast down 40 points the dow and 300 is the level now president trump doubling down on this support for venezuela
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nearly half of all adult it is in this country have some form of heart or blood vessel disease. in fact, more than 120 million americans have some kind of cardiovascular disease in 2016. now, most of that relate ared to high blood pressure. there is something about an upside here doctors say if you have high blood pressure you might not need medication changing your diet and lifestyle can lower your risk for heart disease. next case. president trump addressing the crisis in venezuela last night. roll tape. we stand with the venezuelan people and noble quest for freedom and we condemn the brutality of the maduro regime who socialist policies have turned that nation from being the wealthiest in south america into a state of abject poverty
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and despair. now juan oning to maduro inports aide what's the latest? >> in from columbia reports are crossing that maduro is blocking the importation of that food aide because he's putting out propaganda according to on decision says this is the you know prelude to u.s. invasion that's the storyline getting the military to block it. now thinking stuart is that his military forceses will take the food for themselves, and give to their own supporters so he's saying 300,000 people are in venezuela on risk of dying from starvation if they don't get this food aid so the other problem here in venezuela, the oil industry is collapsed. there are fuel shortages they need fuel to run trucks to get the food aid in. this is a dire situation, the international media is now watching, and seeing maduro blocking food for his starving
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people. where is the outrage on the left by that is what opposition continues to ask us. here at fox business. >> how ultimately do you get humanitarian aid to the people of venezuela if government is blocking it does it come to bloodshed do you get it to the border perhaps -- truck ares an say we're coming in and this is food and for the people, you picture get out the way. >> that's had the the clash. >> 40 countries support right now so when military peel away that's the issue. >> more importantly we support gado. [laughter] all right check the big board we're been in business for 25 minute this is wednesday morning. not much change in stock prices. we're down 30 points on the the dow jones is industrial average. more high level talks with china happening early next week. in my opinion, there's some degree of unity, bipartisan unity in the confrontation with china. i think that is a policy win for the president. don't hear much about it butst
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that it. back at the top of the next hour. jardiance asked: when it comes to managing your type 2 diabetes, what matters to you? let's see. most of you say lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk of a fatal heart attack or stroke. jardiance is the first type 2 diabetes pill with a lifesaving cardiovascular benefit for adults who have type 2 diabetes and heart disease, jardiance significantly reduces the risk of dying from a cardiovascular event and lowers a1c, with diet and exercise. let's give it another try. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain,
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tiredness, and trouble breathing. a rare but life-threatening bacterial infection in the skin of the genital area could also occur. stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. isn't it time to rethink your type 2 diabetes medication? ask your doctor about jardiance and get to the heart of what matters.
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confrontation and i use that word deliberately. for the first time, an american president has forcefully confronted the authoritarian government in beijing. when the confrontation began, there were many democrats and republicans who urged caution. don't get into a fight, it might turn out badly, don't impose tariffs, we'll get hurt. but china had been stealing our technology, blatantly. china had been forcing our companies to hand over our technology and china had wracked up a gigantic trade surplus. as the story unfolded, the president brought many of his opponents around with a policy of firm negotiation and when tariffs were imposed with relatively little impact on america but a big impact on china, there was more support for the president's position. i don't hear many democrats demanding trump ease up. i don't hear many republicans demanding an immediate end to the tariffs. fast forward to the present. with three weeks to the deadline
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for a deal, our top guys will be in china this weekend. they talk on monday morning. trade chief lighthizer and treasury secretary mnuchin will be there. the chinese have just agreed to expand the talks to include cyberattacks and lighthizer just said a new agreement would be the model for all future agreements. there's a lot of speculation about a trump/xi summit to finalize a deal, a lot of positive developments. a deal is by no means certain, despite the positive signals, but to bring much of the country together behind confrontation and tough negotiation with our principal rival, that is a significant trump success. it's time it was acknowledged. the second hour of "varney & company" is about to begin. stuart: right now we are down
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about 70 points on the dow, 25,340. but do look at boeing, another all-time high. earlier it reached $410 a share. it's backed off a bit but it did reach a new high just a few minutes ago. $406 right now on boeing. higher profits, better revenue at disney. their theme parks and abc doing well for them. okay, their costs are up, that's hurting them a little bit. disney today at $112. i want you to look at general motors. that stock has been in the doldrums for a long time. now it's picking up a little. they are making money with their pickups and crossovers and gm just reached $40 a share. earlier this morning it was at $41. right now we will take $40. big tech names, look at them, all down except for facebook. apple, $173. amazon, $1648. facebook is up at $171. alphabet's down 13 bucks and microsoft pulling back $1.20 at $106. back to the state of the union and president trump's hard
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line on china. here's what he said last night. roll tape. >> we are now making it clear to china that after years of targeting our industries and stealing our intellectual property, the theft of american jobs and wealth has come to an end. stuart: strong stuff. come in, keith fitz, money map chief investment strategist. after what the president said last night and these new developments, do you think we are closer to a deal? >> oh, absolutely. there's no question. i think there's a lot of behind the scenes maneuvering going on. i think that all the buzzwords are there. this is about letting them save face as much as it is about us securing the absolutely correct hard line that we need at the moment. stuart: do you think if there is any announcement of a trump/xi meeting, any more progress, you think the market reacts by going up? >> i do. i feel very strongly the market
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will in fact go sharply higher if there's a deal on intellectual property and they come to terms with regard to piracy and the intellectual theft or cyberspying, whatever you want to call it. stuart: hold on a second. come in, tom rogan, "washington examiner" commentary writer. tom, do you think we are edging closer to a deal? >> i do, but i think we are edging closer to a deal that is contoured around china importing more american goods. i think slightly better in terms of not appropriating intellectual property of american firms that want to enter china. but on the broad spectrum issue of intellectual property protection, whether that be chinese cybertheft against the united states or the appropriation of american technologies around the world in laboratories, et cetera, that will continue. and i think though the markets will accept this sort of quasi half deal because it represents a sea change from anything we have seen before, certainly since the chinese economic
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awakening, and it would be worth cutting that deal. but the intellectual property theft at the margin will remain a major issue because president xi -- stuart: then it's the question of trust but verify. right? longer term, you've got to verify they are living up to it but that's longer term. short term, a deal is coming? >> yes. exactly. you would have to put pressure on china relentlessly both in that spirit, protecting intellectual property, but also in terms of china's broader challenge to the american-led international order in terms of undercutting economies in the area, for example. it's a new cold war but it will be the best deal we can get and actually, in terms of the measured benefits for the united states, it will be a clear victory. stuart: hold on for a second. i want to turn to the pure subject of money. keith, come on back, please. tesla cutting prices on the model 3 again and you say, i
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think, sell that thing, right? >> yeah, i don't like this stock right in here. they have a huge amount of debt, $920 million, a convertible price that's way above where they are trading right now. i think this is the teflon stock. why it does not go down to $175 a share right now defies me. but there again, musk is a brilliant ceo. i don't like the way he operates but he's a brilliant ceo. stuart: you don't like the stock, you wouldn't buy it now, you think it's going to go down? got you. the head shake tells the story. >> you have other big stocks like boeing, why own tesla? stuart: got you. how about this one. you say i think, i read your stuff, political interest in drug costs is going to urge and push amazon into this sector. explain that, please. >> the irony is tremendous, given how much apparently president trump and bezos do not like each other but all the focus on high drug prices is for a reason. 23% of americans pay more for drugs than they would even with
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their insurance involved. 40% have deductibles higher than $1,000, $2,000, so this is an entree for amazon which has a tremendous price record of lowering those margins and benefiting the consumer. i think president trump's focus pushes amazon faster than otherwise would be expected into the prescription drug business. stuart: you do know, keith, alex azar told trish regan i think last night that we are going to do something about foreigners paying much less for american drugs than americans themselves. that's been part of this equation, too, isn't it? >> well, absolutely, because for example, my own father buys drugs from overseas because they are one-third of the price of some of the american alternatives. he's doing it legally through prescription and pharmacy but he can do it at one-third the price. stuart: extraordinary thing. i want to go back to tom rogan. some of the initial polling gave
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the president high marks last night. cbs found that 76% approved of that speech, liked it. you watched it all the way through, i think you did, at least. i think you dozed off halfway through. was this president trump at his best? what do you think? >> that's the article i wrote last night. i think it's the finest speech the president has made. the weaving of moral american stories of redemption, the language, the pictures of minorities who have come out of prison or testified as people rising up the economic ladder, the stories about hthe heritage of america as a cause for good in the world, the pride and vigor in terms of taking that fight to the socialist element in congress. we are not a socialist country. this was sort of trump firing on all cylinders but a kinder trump. not necessarily a gentler trump, but a kinder trump. i just thought it was a great speech. i thought at moments there was a
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real sense of leadership in the best american tradition. when the democratic members of congress, who president trump knows really do not like him, the new influx, alexandria ocasio-cortez, for example, standing up and he said you should keep standing, you are going to like this line coming up, he praised them, those things matter and i think that is why the reaction in the polls is so good because they speak to a side of trump that is trump, but not the one we sometimes see on his twitter. i think it's a better trump. i think he did a great job last night. stuart: it's time you applied for citizenship. we need you over here. >> i am actually, like you, i'm a u.s. citizen. my dad was in the state department. i keep the british accent so i can come on television. stuart: it doesn't hurt. great to have you aboard, tom. see you soon. also, thanks very much to keith fitz. thank you, sir. all good stuff. got a big hour for you this wednesday. after the state of the union, president trump last night
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saying the only thing that can stop the economic miracle is war, politics and investigations. that got a lot of criticism from the democrats, especially that line on investigations. i'm going to talk to the president's former press secretary shortly, see what he says about it. and trump announces a second summit with north korea's kim jong-un for later this month. doesn't seem kim has done much toward denuclearization so why the summit? general jack keane on that one later this hour. yesterday we brought you the story of a massive tax exodus out of blue states like new york and new jersey, heading south. i will talk to top real estate team based in new york who say that is exactly what's happening. (nationwide jingle) you see brad, songs are really about big life moments. baby shower here.
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stuart: heading a bit further south, i'm afraid, down 86 points now. that's about one-third of 1%, 25,300 is where we are. individual stocks, here we go. eli lilly, the drug company, their profit missed the mark. they are down two bucks. higher profits at humana, the health insurer. higher profit means actually a downside move for the stock. off 2.3%. back to the state of the union. president trump addressed the investigations into his
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campaign. he said they're not good for the country. roll tape. >> an economic miracle is taking place in the united states and the only thing that can stop it are foolish wars, politics or ridiculous partisan investigations. stuart: he laid it on thick. ridiculous partisan investigations. sean spicer is with us now, former white house press secretary and america first action senior adviser and spokesman. the president was heavily criticized for that part, that comment about investigations. did he deserve it? >> well, look, if you look at what the democrats did this week, all of the hearings and all of the focus that they had in congress was about the trump organization and investigations. i think the president's right in the sense that there needs to be, if democrats want to work to continue this economy, to help the middle class, then their entire focus which it was this week can't just be on investigations. there has to be some policy in
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there as well. stuart: do you think that the democrats want to help our economy, as we head towards 2020? surely it's in their interest to have a recession right before the election. >> look, i have been in this town a long time. i believe that both parties have well-intentioned people that care about the country. we just believe in different ways to do that. i do believe the policies that are being advocated by democrats continue to crawl closer to socialism and embrace an economic scheme that i think has failed throughout the world, and that concerns me. but i don't think that they don't love america. stuart: socialists don't care about growth and prosperity. they don't care about america's booming economy. they don't care about it. >> well, i mean, i think the biggest irony right now as we see the folks in venezuela really fighting for freedom and independence and we deal on a daily basis with folks from cuba seeking to come to the united
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states because of our system, our capitalistic system, yet you have these folks in the democratic party that are embracing socialism and proudly embracing it. i think that that's concerning when you see how many people around the world are fleeing it. stuart: okay. the president is going to hold a rally in el paso, texas monday, right on the border. is he starting a barnstorming campaign for the wall? >> well, i think he's been on, you know, if you look at the number of rallies the president has done since almost the first few months of his administration, he's continued to go out there and talk to the base and take his case to the american people. i think obviously this one is somewhat symbolic in terms of where it is and the priority for border security but he's going to continue to go throughout the country. stuart: you seem strangely reluctant to come out and say that was a real good speech last night, mr. president. you seem reluctant to say that. why? >> oh, no, no, no. i tweeted out i thought he hit a home run. the president has delivered now three in a row tremendous
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speeches. i think he laid out two really interesting points last night broadly speaking. one, the case of where we have come from which gets forgotten in the day-to-day news cycle in terms of the totality of what he's accomplished, but secondly, i think he laid out a vision for greatness. he talked about where we can even go further in so many areas, and i think he was right. i thought the speech was excellent. i think the feedback both from folks who were in that chamber and then from the online polls i have seen were extremely positive for the president. stuart: you have any comment on the reaction of democrats? there was a lot of rolling of eyes, there was some, you know, they weren't happy. >> no, they weren't. i think there were some areas in the president's speech that i thought that the democrats would clap for. there was one mentioned early about unemployment for minorities in particular. i was sort of amazed to see a lot of them sit on their hands on that because i think those are things we should all be proud of. stuart: what about late term
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abortion? democrats just sat on their hands. >> well, yeah. after the governor's comments this week that really should have enraged everybody, i think the idea that democrats, we can have a discussion and a difference over policy. i know most democrats, where they stand on this, but as somebody who has been a big supporter of life, i was somewhat amazed at the extreme position that they are now staking out. stuart: so was i. sean spicer, i'm sorry we are short on time. big news day as you might expect. thanks so much, sean. good stuff. thank you. there were many special moments from the state of the union. i'm going to go through a few of them. joshua trump, he's a sixth grader from delaware not related to the president, by the way, not related. joshua endured one time of bullying because of his last name. pictures of him asleep went viral. why not. president trump saluted astronaut buzz aldrin who then saluted back. aldrin was trump's guest for the
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state of the union. trump then pledged to send american astronauts back to space. there he is. great man. alex johnson who was granted clemency was given a standing ovation. matthew charles, he was the first person to be released from prison under the first step act. he was honored last night by the president. initially he was sentenced to 35 years in prison on drug-related offenses. he is going to be with us next hour to tell his story. welcome aboard. president trump vowing america will never be a socialist country. amid the rise of congresswoman alexandria ocasio-cortez, her response to trump, she said he's scared. i don't think so. my take about that at the top of the hour. meanwhile, check that big board. we are down 75 points now, still at 25,300.
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and the army taught me a lot about commitment. which i apply to my life and my work. at comcast we're commited to delivering the best experience possible, by being on time everytime. and if we are ever late, we'll give you a automatic twenty dollar credit. my name is antonio and i'm a technician at comcast. we're working to make things simple, easy and awesome.
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stuart: britain's prime minister theresa may goes to brussels tomorrow, trying he got a new brexit deal. hold on. what are europeans saying to her? ashley: basically the message we are getting, they are saying we aren't open to renegotiate. you know that. but the prime minister has to in order to get something passed in parliament. it's the same old impasse, who blinks first. 50 days from today they are supposed to leave the european union. stuart: are we sending you back? ashley: yes. stuart: you are? ashley: yes.
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liz: cover all the dithering. stuart: the mess. wish you could say. all right. president trump says he will build a human wall if necessary to protect our southern border. i'm not sure he moved the needle convincing any democrats about that last night. but we will deal with it, that's for sure. and we talk about this all the time. america, the standout world economy. europe, china, japan, they all have economic trouble. are we, america, we are still the best place to invest? we'll be back with that one for you.
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♪ stuart: i believe john lennon said he was most proud of this song. liz: he really felt cornered and it was true. the lyrics were what he was feeling at that time. stuart: is that true? liz: yes. stuart: i love the harmony. it was a rotten movie, though. just awful. okay. check the market. we come back just a little bit. we are down 60. there's not a big moving day thus far this wednesday. we are at 25,344 as of right now. we better check -- oh, look at that. every single one of our big tech stocks is down. apple, amazon, facebook, alphabet, microsoft all on the down side. the biggest loss looks like amazon, which is down 22 bucks. disney, better profit, better revenue, theme parks performing well, abc performing well, no
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change on the stock. their costs are rising. that's a bit of a problem for investors looking at disney stock. $112 a share is where we are. the dow jones average is down 69 points as we speak. i think we are just about to get the latest numbers on oil, how much we have got in storage, how much we used, and therefore, what happens to the price of oil. currently at $53 per barrel. i think we got the number? liz: yeah, 1.26 million more barrels in storage. that's about half what the market was expecting. but you see oil prices are holding steady despite sanctions on the venezuelan oil sector. stuart: holding steady at the low $50 per barrel mark. liz: that's correct. stuart: those storage numbers, no difference. $53.25. now, president trump touted what he called the booming economy last night. roll that tape. >> we have launched an
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unprecedented economic boom, a boom that has rarely been seen before. there's been nothing like it. we have created 5.3 million new jobs and importantly added 600,000 new manufacturing jobs, something which almost everyone said was impossible to do but the fact is, we are just getting started. stuart: the president went on to say that america is the world's standout economy so let's bring in jeffrey kleintoff, global investment strategist. you cover the world. the president did say last night we have the standout economy. so are we, america, best place to invest? >> well, the president's right to point out the boom that we have seen in the u.s., particularly over the past year relative to the rest of the world. the markets are always looking forward and there are some signs
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that u.s. economic momentum is fading a little bit, notably in forward earnings expectations. they have come down to nearly zero growth from a year ago versus double digit growth just a few quarters ago. if we look beyond the u.s., we see more potential for the tax cuts that helped fuel u.s. economic growth last year. canada is talking about cutting corporate taxes, germany, china, australia, the netherlands. if we see widespread corporate tax cuts overseas this year, that could help boost earnings growth over there relative to what we are seeing in the u.s. stuart: talk about just america, regardless of the rest of the world. we have had a fantastic start to 2019. 9% up on the dow industrials, 11% up on the nasdaq. are we going to keep going up not rapidly, but are we keeping marching up there? >> i think there's risk to this rally in large part because of the earnings trend that i mentioned. last year in the fourth quarter, stocks fell sharply and priced
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in far too weak an economic or even earnings environment than we saw. what we are seeing is a rebound though we are not back to that peak we saw around october 3rd or so of last year. i'm not sure we are going to get there. we may, but i think we are running into this pressure from earnings estimates coming down. i think that may ultimately limit this rally. stuart: hold on a second. as i understand it, our market, the s&p 500, that is, the broad-based indicator, the s&p, is 16 times profits down the road, 16 times the profits in 2019, and the yield on the ten-year treasury is 2.7%. that would seem to me to be an impetus to keep going higher, wouldn't you say? >> valuations aren't a challenge here. you're right relative to the bond market or even just at a 16 times multiple. this is not an expensive market. but it's very difficult for
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valuations to expand when earnings estimates are falling. we need to see that stabilize, maybe even begin to turn back up again before we can expect to see valuations march higher again. stuart: we aren't going to dismiss you early simply because you aren't enthusiastic about america's market. i just want to encapsule this. you don't see a real strong rally for the dow industrials, the s&p or nasdaq from here? you don't see real upward movement, do you? >> i'm afraid that's the case. rising costs, slowing global economic momentum and the lag of consecutive rising fed rate increases puts me in that camp. stuart: thanks for being with us. we will ask you again, no matter what you've got to say. come back soon, okay? the state of the union. i want to bring in a presidential historian of note who has been on this program before. give me your analysis. how did the president do last night? >> stuart, i think he crushed it. stuart: really. >> i haven't had so much fun
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since the last substitute teacher i had in junior high. stuart: you are shameful. what was so good about it? >> well, it was well paced. it was emotional. this man, donald trump, has been on the circuit, the motivational speaker circuit as ronald reagan was and there's a special cadence you have to have. you have to be prepared for interruptions. you have to carefully plot a story because you are going to be interruptd in the process as you get to the punchline. had all of that down. this was not just stephen miller. this was him and it was so well paced, well done. very effective. stuart: i think this president is the most unusual president in my lifetime and i go all the way back to truman. i have never seen a president like this before and i have never seen a president communicate like this before. is he the equal of ronald reagan at communicating? >> he's very different but just
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as effective in his own way. like reagan, he's a leader. he's making policy. he's not following along like a little puppy dog, the polls, to sniff what he should do. i think there will come a time when people will look back and say give us our trump, they will actually miss this kind of transparency and honesty and leadership and long after we're all gone, just like we talk about the medicis in a cruel way, we talk about the kennedys and the rockefellers in a laudatory way, they will still be writing books and doing dramas about the trumps. stuart: you are really going to upset a few, ruffle a few feathers here if you say donald trump is a better or as good a communicator as ronald reagan and will go down as a great president, great communicator. you are ruffling an awful lot of feathers in america. >> i loved ronald reagan and i wrote his campaign biography, i
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traveled with him. he was a great speaker. he understood the difference between hot and cold. he could speak to the television audience and not be too hot as a stage performer so he's excellent. but they are different. donald trump is just effective in his own way. i think he roused his base last night and got criticized for it but that's what he was supposed to do. in 1992, george h.w. bush didn't secure his base, ended up losing his presidency. in 2008, john mccain waited to secure his base, ended up having to take sarah palin on the ticket to try to hold it together and lost his election. this is the time to secure your base, 2020. you start reaching out later on. stuart: i've got 30 seconds. can you tell me your opinion on how his presidential opponents did? bernie sanders, kamala harris, miss gillibrand, how did they do as listeners to the state of the
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union? >> i suspect they practiced their listening. i suspect they listened to tapes and looked at videos of their own facial expressions but it didn't work out and bernie sanders got trapped in that socialism comment. i think that will come back to haunt him. stuart: doug, you're all right. you can come on this show any day you like. thank you very much for joining us, sir. we appreciate it. a rough holiday season for the video game people. sales and profits fell short. the company cut its outlook. the stock is down 14%. tell me more. ashley: this is a very competitive field. if you have a hot video game, it's great. but if your games are not so hot, then you are going to have a tough holiday season which is exactly what happened to electronic arts. they sold seven million of their battlefield 5 games but when you compare that to dead red redemption, or fortnite, the
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game everyone is involved in, it has been a tough time. ea, electronic arts, already reduced their outlook and failed to match their reduced outlook. that's why the stock got hit. stuart: now, take two interactive are the ones who created red dead redemption. they also plunged, is that right, the stock price -- look at that. liz: these stocks are getting killed double digits. ash is right. red dead redemption is a hot stock but that fortnite is a monster in this space. it's the one that is really getting these stocks killed in trading. take two, watch this, take two has the better play, you know, youngsters like to play cowboy games. that's red dead redemption. they sold more of their latest iteration of that game in its first eight days than it has in the prior eight years of selling red dead redemption 1. this is a stock, one stock i think that could recover. stuart: fortnite the killer.
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in every way. the president announced a second summit with north korea's kim jong-un for later this month. question, has kim made a real effort towards denuclearization? if not, why the summit? general jack keane with me, next. ♪ the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet?
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stuart: the co-founder of aol says the junk market is strong but middle america is being left out. take a listen. >> for the last 20 years or so, people growing up in the middle of the country, going to school in the middle of the country felt like the opportunity was on the coast, going to places like silicon valley because that's where people were gathering, where most of the venture capital was. we are starting to slowly see a change in cities like pittsburgh and chattanooga, places we visited recently are showing stronger startup communities. if we don't create opportunity there there will continue to be a brain drain. people will continue to leave and we will have this two americas where there's innovation happening and job creation, economic growth, and a lot of other parts of the country, people being left behind. during the fall, everyone who has medicare may be eligible to choose a new medicare health plan. but you may be able to
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and preventive screenings. and when it comes to prescriptions, in 2017, humana's medicare advantage prescription drug plan members saved an estimated $6900 on average on their prescription costs. so call a licensed humana sales agent today at the number on your screen, to see if you're eligible to enroll today. and say yes to getting the right health care coverage without having to wait for it. stuart: check out sea world. they just named a new ceo. the new ceo was the former chief operating officer at carnival cruise lines. no reaction on the stock at sea world. check united airlines. they are planning to add more seats on business travel routes. why not? that's where the money is. it's much more lucrative. and news from jcpenney. kind of a contraction here. they are no longer going to sell major appliances. the move goes into effect at the end of this month.
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they say that furniture will only be available online and at select stores in puerto rico. jcpenney, $1.33 a share. president trump announced a second summit with north korea's kim jong-un. listen to what secretary of state pompeo told maria bartiromo about the summit this morning. roll tape. >> i think there's every opportunity that chairman kim will move on to fulfill the commitments that he made and then we will in turn fulfill the commitments we made toward stability on the peninsula. stuart: we need to bring in retired general jack keane, fox news senior strategic analyst. why a second summit if north korea hasn't done almost anything to denuclearize so far? >> i think that is the question, stuart. i had my own thought myself that we should leverage the summit, in other words, don't go to a summit unless they are fully committed to make a major concession and have that in your pocket going to that summit. but that didn't happen.
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we are having the summit. i've got to believe this. the letter exchanged between kim jong-un and president trump and kim jong-un's personal envoy coming to the white house to meet with the president, i have got to believe the president and secretary pompeo believe that the stalemate we are in right now would result in a breakthrough at the summit and kim jong-un will come forward with a deliverable that makes sense, something meaningful in terms of major concessions. stuart: what about the chinese? they have a role in this. do they want denuclearization in north korea? >> i think the chinese recognize that things were getting out of control with kim jong-un flying missiles over japan heading towards guam, threatening to fly missiles into the united states with nuclear weapons on it. the chinese do not want that peninsula to erupt. i believe they have been supporting north korea in calming them down, moving
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towards some kind of negotiation here, and a settlement. but i'm skeptical about the chinese endorsing that north korea will remove all of their nuclear weapons and all of their ballistic missiles. i think when we are talking to north korea, we are likely also talking to china. remember, every time there's a summit coming, kim jong-un gets on his train, goes over to talk to president xi and then comes to the summit. he's already made that visit. stuart: i'm surprised to hear you say china wouldn't want north korea to get rid of all its nuclear weapons. why would china want this rather unstable dictatorship on its border armed with nukes? >> because china does not want the peninsula to be united. once the nuclear weapons are gone, the second step will be to pull the military away from each other at the border, sign a peace treaty, the war is ended,
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start economic exchanges, start to grow north korea and they start to look like -- more like south korea. china does not want a unified peninsula. that's why they have been willing to put up with kim jong-un, his grandfather and his father, and the frustration that they have caused the world, because that is at the end of the day, they never want the united states ally on their border which is what they would get if they have a reunified korea. stuart: like a global chess game, really, isn't it. that's what it is. general, always a pleasure. thanks for being with us. appreciate it. >> good talking to you. stuart: we have breaking news on the talks to reach a budget deal. what do we have? ashley: we have cautiously optimistic tone coming out of this. it's interesting because the democrat from new york, house appropriations committee chair, was being asked about this bipartisan meeting and she said
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we are meeting, we are trying to resolve as many issues as we can, we are cautiously optimistic that we conclude the process, we can conclude it by friday. still many questions she says we must discuss, debate and look forward to completing. then there was a question did the president's speech do anything to move the needle one way or the other. she had no comment. stuart: but she does share that bipartisan -- ashley: to find common ground. stuart: she's cautiously optimistic. ashley: that's better than no talks. liz: we are nine days away. stuart: by the way, i see the market come back a little bit maybe on that news. now down just 11 points. maybe that news, anita lowey has something to do with that. yesterday we brought you the story of that massive tax exodus out of blue states like new york and new jersey. i will talk to a mother/daughter real estate team based in new york. they say that is exactly what they are seeing in the real estate market. we'll be back with that.
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bipartisan committee getting the government deal. our next guests are real estate people in new york, mother/daughter team here. they say their clients are indeed looking to move out of high tax states like new york. we have with us dolly and jenny lenz, real estate phenomena in new york city. first to you, dolly, mom, is this what you're seeing? are people moving out of new york because of taxes? >> no question. it's hastening people. so people generally, baby boomers move, they go to warm climates, to low tax climates. what we are seeing is it's being hastened by these taxes. so people are saying you know what, i'm only 60, i'm moving now, where before they might have moved at 70 or 72. that's huge difference for new york state. stuart: yes, it is. jenny, how many people, can you give me any numbers to confirm this? >> yeah. the u.s. census just came out with their report saying about
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50,000 people have left new york which is the biggest of any other state. stuart: is that the state or city? >> it's the state. stuart: 50,000 people. >> that's the biggest of any state in the country. stuart: that's a mass exodus, any way you slice it. >> yes. yes. governor cuomo should be nervous. stuart: i don't know whether he is or isn't. can i turn this around? are you seeing fewer people, high end executive well-paid people, fewer of them moving into new york? have you seen that? >> yeah. we are seeing that. most of our clients are now just dipping their toe into the water, asking us to go out there in a couple weeks to look at places in florida, mostly miami for new yorkers and for the midwest people, mostly naples. so we are going out there to go look at some property for them. stuart: business is still okay, i take it? >> it's actually better, because remember, florida has an oversupply of property, which is great for anybody thinking to make a move now, because prices have downward pressure so it's a great time to actually pick up a
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place in florida. stuart: see if you can pick up some business. >> oh, yeah. thank you so much. stuart: thank you for being with us. >> and a suntan. stuart: that, too. excellent stuff. thank you. president trump last night said america will never be a socialist country. bernie sanders and alexandria ocasio-cortez not pleased about that. well, look, i have seen socialism in practice. i have lived it. and it's just plain awful. my take on that, top of the next hour. ♪
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>> if you watch this program, will you know we are dead set against socialism. personally, i walked away from british socialism in the 1970s. i have often said, i am a refugee. socialism leads to decline and run. it stifles individual success, so-called democratic socialism is legalized theft. now, listen to the president. >> here in the united states, we are alarmed by the new calls to adopt socialism in our country. >> america was founded on liberty and independence and not government coercion, domination,
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and control. we are born free, and we will stay free. >> tonight, we renew our resolve that america will never be a socialist country. [applause] >> don't you love it. i stood up and cheered for that one. but, the democrats did not. bernie sanders scowled. alexandria ocasio-cortez actually said the president is scared. i don't think so. the president called out the democrat party for its embrace of all kinds of socialist politics. as he said, our economy now, is an economic miracle. it could be reversed by among other things, politics. well said mr. president. democrats rise running for the
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presidency embraced higher income taxes, huge estate tax hikes, a big social security tax increase on the rich, and a wealth tax. not to mention the green new deal to kill oil companies and medicare for all that kills private health insurance. that is socialism. that is the new face of the democrat party. no wonder they sat on their hands when the president said, we were born free, and we will stay free. forgive me please, for spending so much time on this, but i have seen in practice. i have lived it. i'm here to tell you, socialism is just plain awful. this is bernie and company, we celebrate capitalism. here comes our third hour. >> i am calming down, i am out, shortly we are going to be talking at the white house of how the administration will get this out there that socialism doesn't work. were going to ask them about the president heading to el paso
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last week. maybe he is barnstorming for the wall. now let's get the money. while is still your money. check the big board, new china trade talks are set for next week in beijing, could be clearing the decks for a trump in chinese meeting. that's bringing gary short euro. he's also the author of the book, ninja future. secrets to success in the new world of innovation. all right, let's suppose that we get some kind of trade deal on march the first. which is ideal for our technology? our innervation? >> well, certainly keeps us most capitalist country in the world. and our economy humming and innovation going. i took to heart your comments about socialism. my wife and her parents escaped communist poland a number of years ago. i hear from them all the time what a great country we live in
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because we are living in a free market democracy. i believe in it, i'm glad you do as well. that's not consistent with tariffs. tariffs are part of free trade. china has had real challenges with how they built our country. we are dealing with them with strong measures. it's costing us about $1 billion a month now. is causing forecasters to say lower our gdp estimates. it's hurting our ability to shift to 5g and other technologies. if we don't cut that deal. if we go to 25% on march 15, then, you will see stockmarkets plummeting. we have had over 60 global companies and u.s. stock exchange training companies announcing earnings impact when they're talking about the earnings from tariffs. we cannot afford to continue to raise the tariffs. >> i'm going to change subjects. i was fascinated by the story which came to us this morning. i want you to deal with this.
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the top auto analysts of j.p. morgan, says morgan stanley, i'm sorry. he says for flying cars are almost a reality. they're going to be here sooner rather than later. i have a bone to pick with that one. we can't handle drones which cripple airports, were not real good with driverless cars, there is a deadly accident recently. we are going to have flying cars sooner rather than later? will you deal with that one for me? >> absolutely. you're usually right. the truth is, we are going in the direction of greater forms of transportation. it will get us around quicker, free up parking spaces, whether it's the electric bikes people are taking, or self driving cars. americans are choosing when they buy new cars to get these self driving features put in. they're starting to save lives. we've only had a couple of deaths. not to diminish them, there were driver mistakes there.
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were killing 1 million people a year globally, 35000 people in the u.s. we are going to lower driving deaths but there will be accidents. in shifts of flying vehicles, drones are already saving lives, finding missing children, they are doing all sorts of things and they'll get medicine to people who need it within seconds were could take hours or days. drones are here to stay. we have a good regulatory scheme in the united states where every drone over certain height has to be identified. were going to a situation where major american companies like bell helicopter and even car companies and others are looking at making these machines flying. who hasn't waited at a red light or stuck in traffic and fantasized about being able to get around? >> you have the right word there. fantasized. >> it will happen. it's not going to happen as quickly as your story indicated. but in 5 - 15 years will be
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experiments. you would've said helicopters are by outer cars are bad using the same logic. yes, there are problems even today. but the solutions in the lives they say in our job to be the number one capitalist entrepreneur innovation country in the world is to make sure we lead in these innovations. that means we have to look toward the future and recognize every innovation from fire, to computers, to everything has good and bad. >> by one of you by one first. gary, thanks for joining us. >> back to the markets, we turn positive, at least for the dow industrial. not a huge gain but we are at 25400. it's been a great start to the year. we've gone straight up for stocks. ryan payne is with us. you are the president said paying capital. >> i've been called worse. do you think the market keeps going up?
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>> we've had a strong year so far. the big thing, stocks are slaves to earnings and earnings have come in 70% of companies have done better-than-expected so far this season. i expect that to keep up to make you think earnings will keep up a strong pace into the year? >> everyone got so negative last year that things came down so much. now the bar so low end prices are relatively cheap. my guess is most stocks will be the hurdles in terms of he earnings. 26800 is the record closing high for the dow. right now or at 254. do we make new highs? >> if i was a betting man i'd say definitely. >> that's not the same thing. you have to have a crystal ball. how about dividends? mis interested at my age and dividend paying stocks. will they hold up? >> remember 40% of your long-term or dividends paying
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out, not the market going up. looking at this year projected in the u.s. it's up by 8% which is a very good number. furthermore on a relative basis ten year treasury pays about 2.7%. i can buy a basket of banking stocks and get the same yield. but, the dividend yields projected to grow by 16%. you have arising cash flow investment versus locked into a treasury for ten years. >> the president last night said the economy has an economic miracle. were in economic nirvana. >> i use nirvana. >> for couple reasons. we just added another 300,000 jobs plus in january which is tremendous. unemployment at 4%. you have inflation very low.
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the magic is that inflation is only 2%. they will put the brakes on any monetary policy. they won't raise interest rates for the foreseeable future. you have the perfect balance for the economy and stocks to do really well. >> i like the sound of that. good stuff. >> now will show a gentleman on the screen, there he is just standing up. that is matthew charles. he was sentenced to 35 years in prison on a 1998 drug-related offense. while in prison he turned his life around and became the first person to be released under the first step to act and was honored by the president last night. he will be with us shortly, don't miss that. a fascinating story. before we talk to matthew, were talking to the white house. president trump slamming socialism. it's like he's watching varney &
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>> i do hope you heard my editorial have the top of the hour. i don't like socialism. i say it has no place in america. so, let's bring a mercedes, white house senior communications advisor who i know will agree with me. my question to you, the president came out strong against socialism last night, pounding the table, good stuff. is this a theme he will continue to hammer? >> president trump is the ultimate freedom fighter. his message last night about making sure america will never be a socialist country, resonated for so many. my father, who was a political prisoner in cuba, really suffered under authoritarianism. suffered under the government
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control of everything that meant so much to my father, which is they took all of my father's businesses in cuba. so, the mere fact that the left has made this decision, that they are no longer our grandfathers democratic party, but they are really striving for becoming a socialist party, where government control, it's medicare for all, where is the fact that the government makes decisions for the individual, that's anti-american. that's why president trump stands up for freedom. he understands what our founding fathers meant in the constitution of ensuring that we have the ability to build a great country, where we can be prosperous. where we ensure that our economic policies work. the mere fact that socialism as we know it stifles innovation and stifles entrepreneurship.
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it literally would be so destructive in america. >> i think we see i tied. now, the president is going to el paso on monday, on the border. is he going to barn storm for the wall the way he did for tax cuts? >> look, the president has been incredibly strong on this message of border security. there is no question there is a humanitarian and security crisis on the border. the democrats, however, they are in denial. just last night when the president talked about smugglers and coyotes abusing our immigration laws, basically abusing vulnerable families and using children and women and committing crimes, yet, being able to enter our country. the president says we need to put a stop to it. democrats didn't even applaud. you have to tell yourself again, is speaker pelosi going to listen to the far left contingency of her party that supports open borders, that
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wants to abolish ice, or, is she going to stand with the fact that we do need to secure the border. there are dozens of democrats on the record saying physical barriers work. the president is listening to his border patrol agents and officials and officers who have said, we need these resources to make sure the physical barriers are in place because, they in fact lower illegal border crossings. in addition to the other proposals the president has put on the table that would be strengthened, the ports of entry and being able to curb illegal immigration. >> i want to ask you about trade, new trade talks are very high level monday of next week in beijing. can you tell us if this is in some way setting up a trumpet and president -- chinese president -- are we moving in that direction. >> i don't have an announcement to make on that.
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but i will tell you the president has a very good relationship with the chinese president. obviously we have made progress in ensuring that these discussions are happening. i think president trump has been incredibly strong and effective in bringing china to the table and say you're not going to steal intellectual property from the united states. we need fair and free reciprocal trade with china. we will be taken advantage of. this is why these talks are so important. i was sleep we have a deadline in place for march 1. will continue to work through these discussions and see if we can make progress. once again, the president, he so powerful in a sense that it's not about the status quo anymore. it's about making significant change to our trade deals so that our american workers are protected. >> hardline tron. mercedes, i'm glad we agree on
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socialism. >> that's why i love you, stuart. >> will see you soon. >> soon will be talking to a congressman, there he is. he was chatting with the president last night he was called out for turning a blind eye to america's economic success. first, we have a list of the most underrated colleges in america. based on things like cost, your return on the cost, that would be career outcomes. is your college her alma mater in the top five? will tell you. we have this to show you, chinese satellite snapped these pictures of the far side of the moon. if you look to the bottom right you can see the earth, you can't see it -- oh, we can't see it, but is there. i promise you. i tell no lie. you get it all except the earth in the picture. will be back.
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>> stuart: college of mine is a college admissions consulting group. they have a list of the 50 most underrated colleges in the country based on things like cost of attendance, financial aid, career outcomes, which college tops the list of the most underrated? san jose state. >> university of houston number two, being in new york number three, city college, new york number four. george mason university rounding up the top five. some of our producers may be relieved to know that there alma mater, hofstra made the list. at number 50. president trump has brought record low on employment to african-americans and hispanics. he made the point last night. you would think that is something everyone can get behind. so, why is he not getting credit? we will ask ben carson that question. the man on your screens, there's matthew charles sentenced to prison, turned his life around.
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>> stuart: the market came back a lot. now just down 18 points, the low were down 99. let's get back to the president's state of the union. he boasted an economic miracle. we talked about. he spent time talking about the jobs picture. listen to this. >> on employment has reached the lowest rate in over half a century. african-american, hispanic and american, and asian american on employment have all reached their lowest levels ever recorded. on employment for americans with disabilities act has also reached an all-time low. more people are working now than at any time in the history of our country. 157 million people at work.
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>> he laid it on thick but didn't get much of a response from the democrats. let's see if we get a response from ben carson. sir, why does the president get no credit for this extremely low unemployment rate among minorities? >> it is interesting. i remember about 25 or 30 years ago, he was doing an interview with oprah. she asked if he would run for president and he said i would not like to do that. only circumstances is if the country was going off the cliff. it was going off the cliff. he decided that he would run. he didn't do it for credit, he does it because he loves our country and wants it to be successful. now, there are some who cannot acknowledge his success because it detracts from their argument that capitalism is horrible, that we are a horrible country and we treat minorities the wrong way. i guess, that's whether caravans of minorities trying to get in here.
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>> synergies sandersenator sande president is a racist. would you respond to that, please? >> i have not seen evidence of that, whatsoever. his philosophy is that a rising tide floats all boats. if you create an economic environment through appropriate tax cuts, deregulation, and some other policies he is put in place, it has a positive effect. it's indisputable, it's just that some people won't admit it because it flies in the face of their narrative. >> stuart: is an african-american serving throughout the president, in the president's cabinet, and you get a lot of flak? >> i don't listen to silliness, quite frankly. there's plenty of that out there. what i like to concentrate on is, what do we do to get people out of poverty. one of the great things about
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the opportunities is that it gives people an avenue to put their resources into some of the economically deprived areas, to create jobs and create economic viability. in places that would never have had it otherwise. do it on a long-term basis. here today, here to stay, those are the kind of things that make a huge difference. that is the reason i am here. i can be doing a lot of other things. recognizing that we have so many americans who really think the american dream is not for them, but it is for them. i think the president wants them to know that for sure. he's never going to convince them of that by telling them that, but by showing them i think eventually they will open their eyes and not be able to deny what they are seeing. >> ben carson, thank you for joining us.
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>> now, this. the president special guest last night among them the first person released from prison under the first step act. watch this. >> we are also joined tonight by matthew charles from tennessee. in 1996, at the age of 30, matthew was sentenced to 35 years for selling drugs and related offenses. over the next two decades, he completed more than 30 bible studies, became a law clerk, and mentored many of his fellow inmates. now, matthew is the very first person to be released from prison under the first step deck. [applause] >> thank you, matthew. welcome home. >> stuart: that was good.
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the gentleman on your screen, you know him by now, matthew charles frazier, it's a pleasure to have you on the program. welcome aboard. >> thank you. thank you for having me. >> stuart: would you take us back to the 1990s after your sentence to those years. i ask you this, were you a christian when you went into prison? >> i became a christian after i was arrested, two months afterwards i was arrested in december and i accepted christ as my personal savior in february of 1996. >> who brought you to christianity? >> it happened on a wary. a friend of mine that was also locked up for his crimes had left and got transferred. when he left, he left me a brown king james bible. i didn't even know he had it, nor did we ever discuss religion. i ended up reading it. as i continue to read it i was drawn in. so i started attending bible study courses at the county
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jail. then that led me to receive in a track and information from a bible study teacher that came in on how to accept christ as my personal savior. >> stuart: how long did you spend in prison? >> 22 years in total. >> do you remember the moment when you knew you were going to be released under this first step program? >> that moment came january 1 on new year's day, is the holiday i received a motion in the mail from my attorney, the public defender's office in nashville. in it he stated he filed a petition on my behalf in regards to the first step act. as i was reading the petition, he also filed other litigation for me that happened to be unsuccessful. at the time i was waiting on a conversation from the president. but, because of the passage of the first step to ack and the fair sentencing act of 2010 to
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be made retroactive, that allowed me to be released before the president released me by way of clemency or pardon. >> stuart: how did you feel when you walked out of prison? >> i felt wonderful. it was a great feeling, sir. >> stuart: it was a real pleasure having you on our program this morning. it's great to hear your story, from you, yourself. god bless you, i know he has already. we are with you. >> thank you, thank you very much. >> stuart: what a guy. >> now, it's time to bring in congressman barry loudermilk from georgia. he chatted with the president last night. president, i was watching, i saw that president extol this miracle economy and i saw the democrats sit on their hands and say nothing. how do you explain that? our country is doing well. >> it is. he's bringing up the facts.
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i think the explanation is a sign. it was on the outside of the door one of the democrat offices that said this office is an alternative fact free zone. he says we don't want any facts contrary to the narrative, just like secretary carson said. the narrative is, america is not strong. if you looked at the screen last night as i was sitting in the chamber and he said the state of america's strong, speaker closing shook her head no, it is. the facts are showing it strong. there are jobs out there to have. we talk about freedom, the freedom to grow, the freedom to go pursue, the freedom to succeed. they are pushing a socialist agenda which is more government, more government control and constraint. the fact is, our policies, not just donald trump, part of it is anything he's for the begins. some is a differential and
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policy. their policies failed and resulted in low jobs. the policies resulted in high taxation, slow economy. our policy has reversed it. they cannot accept these facts. >> stuart: this is politics just prior to the 2020 election. how can the democrats give any credit to president trump in any area whatsoever? they are all going to try to get him off of office in 18 or 20 months. >> i heard some criticism that this was a campaign speech. how do you differentiate when you're actually accomplishing what you campaigned on. all the politicians come campaigned one way but then they governed a different way. were seeing success and they just don't want the american people to see it. the american people are living it. >> stuart: yes, we are.
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thank you for joining us today. sorry it's so short. it's a tight new schedule. thank you. >> stuart: now, the president will hold a rally in el paso, texas on monday, that's on the southern border. looks like he is maybe going to be barnstorming on the wall issue just like he did successfully with tax cuts. remember, it was yesterday that we showed you the standoff at the us-mexico border. were talking to a former ice guy about that, next. >> san diego used to have the most illegal border crossings in our country. in response, a strong security wall was put in place. this powerful barrier almost completely ended illegal crossings. simply put, walls work on walls save lives. [applause]
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shares this panel looking into the border in the closure. she said but, we are meeting in this bipartisan spirit. she said, we are cautiously optimistic that we can conclude the process by friday. we hope to complete the work crew that started the turnaround. what about china trade. >> it could be the nation line has traveling this weekend to beijing may be to nail down finally a deal before the march 1 deadline. revenues are common and strong for the s&p 500. earnings are up 15%. >> the market just turned positive again. don't you love it? will be back.
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>> usa! usa! >> stuart: i will call that out rare moment of unity. both sides were cheering seen usa, usa. we wanted to show you that. it was a rare moment of unity. let's get to the border wall. president trump stop short of announcing a national emergency declaration last night. here's what he did say about the wall. >> san diego used to have the
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most illegal border -- strong security wall was put in place. this powerful barrier, almost completely ended illegal crossings. simply put, walls work and walls save lives. [applause] >> there's only one man to cover this. his name is tom homan, the former acting director of ice. after that speech last night, do you think you changed any minds among democrats? >> no. but i think the biggest thing he did, first row, everything i wanted to hear, her. the thing he did because democrats main talking point is roles are immoral. the facts are the opposite. everyplace that has built a wall the immediate result is lower immigration.
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to him to call on two examples last night set the record straight. walls do work. just for san diego, was stop them? the existing barrier in the men and women in green. >> you are acting director of ice. in the audience last night was kristen gillibrand who wants to abolish ice or get rid of funding for it. the president mentioned ice funding in the kristen gillibrand staff their stone face. did your organization help remove criminals? >> my last year we arrested and removed 5000 criminals from the streets of new york. kirsten gillibrand is an embarrassment to the state. sherry sent a thank you letter but it says she wants to abolish ice. >> that's not just here illegally. >> no. you commit a crime against a
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u.s. citizen in addition to entering the country illegally. >> stuart: what about all the people removed from the streets over america. i heard you say 87% of them were convicted criminals. is that accurate? >> they need to go back to the last administration. nine out of ten of everyone they arrested last year, 87.6% were criminals. were were paying criminal charges. under the obama administration, the number 65%. ice is doing a better job. again, the false information be pushed out by people like alexandria ocasio-cortez, she says babies dionysus custody. a child has never died in nice custody. the border patrol separates family and not zero-tolerance. nine out of ten is a good prioritization. everything she says about ice is inaccurate. kirsten gillibrand is no better.
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the mayor wants to abolish ice and they want to know why we have a problem. go to the city where your sanctuary. >> tom, i'm glad you're here to set the record straight. >> we have a president who wants to get this america back and protect the country. he has done more in two years. >> tom, you're all right. >> see you soon last night, president trump announced an end to wars in syria and afghanistan. our next guest says there's a major misconception about pulling out of syria. he'll make his case right here, shortly beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond.
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today, we have liberated virtually all of the territory from the grip of these bloodthirsty monsters. now, as we work with our allies to destroy the remnants of ices, it is time to give our brave warriors and syria in a warm welcome home. >> stuart: president trump last night, you heard him talking about leaving syria and afghanistan. brett is with us, he's a strategic advisor for white box defense. but, you are concerned about ices making a resurgence there, right? >> i am absolutely concerned. at the same time, the fact is, the president is right. what he said was it's time for partner nations and countries in the region to step up their game and do their part. our soldiers have fought long and hard. it has cost trillions of dollars in taxpayer dollars. we have lost thousands of lives. the fact is, there's a
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misconception while we talk about the syria pullout, the fact is, doesn't mean counterterrorism operations will cease and syria, and we will still have a contingent nearby to conduct operations against isis. we can do that inside iraq, will have folks operating with the kurds. we have the airbase in turkey which is an eight minute flight to conduct air strikes. we can break the sovereignty of syria anytime we want to go after isis. i don't want people to think it's the same scenario as in iraq. were veterans completely wash their hands clean. we will still conduct counterterrorism operations in syria. >> stuart: so we are not leaving or just walking away from a fight. we are not losing in that sense. we are not wasting all these lives and money by moving out now. we can still win from other bases. that's your point, right?
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>> precisely. when president trump took office there ices controlled over 2000n iraq and syria. they have largely been defeated. counterterrorism operations is such that they are going to conduct operations in that region against the ices and completely destroy them. >> you were a drone guy. you should know. brett, thank you for joining us. see you again soon. there will be more varney after this. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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stuart: take you back to last night's state of the union message. when the president said, americans were born free, we're going to stay free. and america will never be a socialist country. i'm a refugee from british socialism of the 1970s. i just stood up and cheered when i herd that. i suspect my colleague ashley webster would do the same. >> through the '70s, government owned entities. trains were on strike. power cuts. you name it. we had it. maggie thatcher broke the unions. private investment. things turned around. >> nordic countries bernie, stop saying we're socialist.
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we're not socialist. we're capitalist with welfare models. they don't even have minimum wage over there either. stuart: thank you, liz. a little anything get. that is good stuff. that wraps it up for us. our time is up, neil, sir, it is yours. neil: thank you, stuart, very, very much we're following breaking news. adding confusion in virginia. right now the man third in line to be the next governor of that state, the attorney general, mark herring, admitting, admitting he wore black face in college as part of a costume. this goes back to 1980. in case you're keeping track, that then means that the governor ralph northam is still trying to cling to office. hasn't resigned yet. hasn't indicated he will over controversial pictures going back to 1984. the lieutenant governor justin fairfax has been accused of sexual misconduct. i don't know who will be fourth in line if that were to happy. they're running
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