up. thank you so much for acknowledging it. and thank you to the viewers who join us every morning. >> the fox news channel is deeply lucky to have you. >> a lot of journalists have been giving each other prizes for chasing the collusion story. you went the other way. kudos. you deserve a prize. maria: thank you so much. james, kevin, dagen, have a great weekend. "varney & company" begins now. take it away. stuart: congratulations, maria. good morning to you. good morning, everyone. well, to say that president trump is in an attack -- is in attack mode, that's an understatement. one week after the no collusion mueller report, he has been unleashed. it was in grand rapids, michigan. the place, by the way, where he made his final campaign appearance before winning the presidency. standing room only inside, thousands outside, he said quote, the russia hoax is finally dead. well, he said a whole lot more as well and in a moment, you will hear it. big story in money today is lyft. this is the day when you can buy

shares if you want to. this is the day. it's the first in a series of ipos that will bring some of the biggest startups to the public arena. uber, airbnb are lined up. this is lyft's day. it's a very big deal. the offering price is $72 a share. many are expecting a higher price when trading begins. by the way, the founders, logan green and john zimmer, will be rich to the tune of hundreds of millions of dollars, and valerie jarrett, friend of the obamas, will also make some serious money. maybe lyft is helping the overall markets. we're looking at a triple digit gain for the dow industrials, up, what, maybe 130 points, and the nasdaq's up nearly 40. that's a solid gain. i guess you could call this a win for senator elizabeth warren. wells fargo's chief has resigned. he came into the bank to fix the fake accounts scandal. he changed the board, changed management, got the stock price up, but he's now out.

political pressure. ironically, just hours before his resignation, stockholder warren buffett had given him his 100% support. friday, march 29th, last day of the quarter. it's been a very good quarter for the market. "varney & company" is about to begin. the economy is roaring. the stock market is up almost 50%. you're looking like geniuses with your 401(k)s, right? after three years of lies and smears and slander, the russia hoax is finally dead. the collusion delusion is over. their fraud has been exposed and the credibility of those who pushed this hoax is forever broken. stuart: well, i did say he was

being unleashed at that rally in michigan. no holds barred. he covered just about every topic under the sun. joining us, pete hegseth, "fox & friends" weekend cohost at a diner in grand rapids, michigan. it was raucous last night, jam-packed inside, thousands outside. set the scene for me. reporter: boy, it was. i was a little late. we got delayed by air force one's arrival. i was a few blocks away and knew where i was going because of the roar of the crowd outside. there were thousands and thousands who never had a chance to get inside. then once i was inside, it was packed all the way to the top. i'm telling you, a lot of the things you heard were the same. it wasn't a whole lot new, necessarily, that the president said except for his references to the mueller investigation, but there was a renewed sense of enthusiasm. it almost felt like a 2020 victory anticipation rally. a lost confidence, a lot of enthusiasm. you talk to folks who voted for him and supported him in 2016, they say we support him even

more overwhelmingly today because he said what he was going to do, then he went and did it which we have never seen from a politician before. then we talked to voters here, i talked to friends all morning long here in grand rapids. to a man and to a woman, there's a recognition that this is the most talented politician they have seen in their lifetime, armed with results now and it's dangerous for democrats. stuart: that was a very healthy reception in michigan. i think it puts a lot of pressure on the democrats because they've got to win michigan, they've got to win other midwestern states in 2020 if they want to take the presidency. that rally last night was really quite something. reporter: it really was. the president was here five or six times leading up to 2016. remember, hillary clinton only here once so i think the democrats will have to learn from their lesson when it comes to pennsylvania and wisconsin and michigan, states they thought they had in the bag that republicans couldn't win. he had a huge showing here in this state and they think -- i talked to trump folks last

night. they feel really good about states like this because jobs have come back, wages have gone up, optimism has increased. those real deal numbers where people's lives are being met matter when they decide who to vote for in 2020, especially i hear a lot from folks about the slate of candidates on the democrat side. they say who are they going to nom thinate that we would even remotely consider. that's a big challenge on their side also. stuart: thanks very much for being there for us, pete hegseth. the money story. this is the money story of the day. it's the ride sharing company lyft that's going public today. joining us, market watcher david dietze. welcome back to the program. i have a real sense of excitement about this. it opens the door to all kinds of ipos this year. you're going to see a lot of money raised. i'm expecting the price to pop at the open from $72 a share, i'm expecting it to go up. how about you? >> i agree with that. this is a unique property. there are no other publicly traded ride hailing services.

also, only about 10% of the shares are being offered to the public. there's a scarcity value, unlike its bigger brethren, uber, there has been very little private ownership by mutual funds for lyft. they too will want to get on board and the growth path for lyft in terms of its business looks stellar. stuart: the growth path looks stellar but they are losing money. what is it, $900 million, something like that? i don't know what the time frame is but that's losing a lot of money. how do they get to profitability? >> that is the $64 million question. having said that, we know that they're pricing their rides below uber, below the conventional taxi service. they have all sorts of other growth paths. for example, their international exposure is small. they haven't gotten into food delivery like uber. they've got a lot of other brand extensions. stuart: $20 billion raised today, probably, versus maybe $120 billion for uber down the road. that's still an awful lot of money plowed into these tech startups this year. >> that's right. but you know, over the last few years, with all the stock

buy-backs, there's a paucity of publicly traded opportunities. i think investors are still looking to get more invested. this is a unique property. you don't want to miss it in the short term. longer term, we are cautious. stuart: okay. now, you have wells fargo's chief yesterday afternoon, tim sloan, stepped down after years of scandals at the bank which he had been brought in to fix, and which he did try to fix, at that. then this presidential candidate elizabeth warren tweeted this. look at this. by the way, getting fired shouldn't be the end of the story for tim sloan. he shouldn't get a golden parachute. he should be investigated by the s.e.c. and doj for his role in all the wells fargo scams. if he's guilty of any crimes, he should be put in jail like anyone else. wait a minute. wait a minute, david. tim sloan came in after the fake account scandal. he changed the board, he changed management. the stock price is up. that's this about more investigations and putting him

in jail? >> i can't endorse a cheap shot like we just heard. having said that, he came in, he was at the bank for about 31 years and we did learn some of the problems in the culture extended beyond the retail sector into the wholesale banking, into the wealth management area, therefore, i do think they need to bring someone in to kind of reestablish the culture. having said that, i love wells far fargo. it's a premier property and unlike some of its competition, it doesn't have all the exposure to the volatile capital markets area. stuart: the stock is up this morning following the resignation. it's at $50 a share. is that the kind of stock you would recommend? >> it was $65 a share just 13 months ago and if we're right that the federal reserve's getting more dovish, so there's less pressure at the short end and we get some relief in terms of the negotiation with china, i think the long end goes up, the yield inversion goes away. that's manna from heaven for banks and wells fargo is well positioned. stuart: interesting. david, thank you very much indeed. just check futures, because now

we are looking at a very solid gain this friday morning. we will be up about 130 odd points. a nice gain for the nasdaq, too. also up about a half percentage point. how about walgreens. they are the latest company to jump on the cbd band wagon. they will start selling cbd products in more than 1500 stores. in politics, president trump really went after adam schiff during his rally in michigan, calling him little pencil neck. you will hear him say it. ouch. house speaker pelosi coming to schiff's defense, calling the republicans a bunch of scaredy-cats. coming up next, we talk to congressman steve scalise. i want to know if there's any way that sthchiff actually step down. "varney & company" just getting started.

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our country was hurt and they're on artificial respirators right now. they're getting mouth-to-mouth resuscitati resuscitation. little pencil neck adam schiff. he is not a long ball hitter. stuart: okay. president trump there obviously taking a shot at the house intel committee chair adam schiff. despite republicans calling for schiff to resign, he's not backing down. nancy pelosi is defending adam

schiff. listen to what she had to say. roll tape. >> who is the president afraid of? is he afraid of the truth, that he would go after a member, a chairman of a committee, a respected chairman of a committee in the congress? i think they're just scaredy-cats. they just don't know what to do so they have to make an attack. stuart: we are pleased to have on our program this morning the house minority whip, steve scalise. welcome back, sir. >> stuart, it's great to be with you in studio. scaredy-cats are the ones who have been trying to say for two years there was collusion, they had evidence of collusion, then it turns out as we have known for a long time, there was no collusion and they still won't get over it. stuart: you want adam schiff out as chair of the house intel committee. you can't force him out. there's nothing really that you can do. >> that's nancy pelosi's call. look, he has no credibility after all the baseless claims he made. it's been proven not true and he still keeps saying it. they keep doubling down. they are hoping for collusion

when it's not there because they don't want this president to be in office. they don't agree with the election. you don't have like this coup from within if you don't like the president. you try to win in the next election but they can't win on ideas. they are a socialist party now. look how far left they've moved. all of these proposals they've got are government control of health care, government control of -- you can't even fly on an airplane in ten years if they get their way. they really believe that. as ludicrous it's sounds. stuart: hard to believe. nonetheless, we do a lot of politics on this show. we also do a lot of money on this show. that's what i want to turn to now. you, i believe, are leading the push for usmca, the new nafta. the revised nafta, i should say. i have to ask you, take a look at this headline from today's "washington post." trump's north america trade deal is at risk of stalling in congress. what do you say to that? >> well, clearly we're not in the majority right now, so nancy pelosi sets the schedule of the house floor. president trump's been meeting

with her team and he's got a great negotiating team from ambassador lighthizer on down who have been working with members of congress after they negotiated with mexico and with canada on this new deal. stuart: they have been working with both sides of the aisle, i think. >> this is going to be a bipartisan effort. look, this is better for american jobs. this helps protect american workers. our intellectual property. it opens up new markets for us in canada, where we have real serious problems getting access there as well as mexico. so we ought to get this deal moved through. stuart: we ought to, but are we going to? >> they've got to get a schedule. stuart: it's a very important thing. if we have a real break down in this usmca trade deal, you have a breakdown on wall street and in the economy, too. >> yeah. i think a lot of people are watching to see if this gets done. i hope it gets done soon, because ultimately, if you look at what it does, number one, it says our neighbors to the north and south, we can get a better deal with them, now let's go get better deals with european allies, get better deals with asian allies and ultimately, stuart, the real big battle is

to confront china. confront china, all of our allies around the world want to join us in doing that, but we first have to get better deals with them and then go take on china and everybody knows what they do to manipulate markets, to steal intellectual property. to dump products. let's get that resolved and you want to see economic growth, we have already seen great economic growth from the tax cuts. we get better trade deals across the globe, this economy will take off like nothing we have seen in generations. stuart: okay. hold on for a second. i want to show you president trump last night going after the green new deal. roll that tape, please. >> the green new deal. i would rather not talk about it tonight because i don't want to talk them out of it too soon. because i love campaigning against the green new deal. i want them to make that a big part of their platform. no more airplanes, no more cows.

stuart: we can have a grand old time laughing at it and that was very entertaining and very funny, but what is the gop's climate plan? what is it? >> first of all, stuart, what we have been doing is not only making our country more dominant on energy, which we are now. we have created great jobs from it but we have reduced carbon emissions through innovation and technology, not by government saying you got to do this or that. we're not in the climate accord in paris -- stuart: with natural gas. >> they want to get rid of natural gas. think about this. if their concern is we are emitting more carbon or too much carbon, under the green new deal, by getting rid of fossil fuels, you will not be able to manufacture in america and they're okay with running those millions of jobs out of america but stuart, that stuff still gets made. it gets made in china. it gets made in india, where they emit five times more carbon for doing the same thing as we do in america because we already have really good environmental standards. so if karyn your concern is car emissions, under the green new

deal you will dramatically increase carbon emissions and wreck our economy along the way. how great of a deal is that? maybe china is pushing that deal. everybody in america ought to be rejecting this crazy radical idea. we laugh about it because it sounds ludicrous. they really do believe in this and want to do it. we ought to force a vote. we are pushing to get a vote in the house. let everybody take a stand. you saw those profiles in courage in the senate where they all said they want it, then there was a vote and they all voted present. they ran away from it. this isn't something to joke about or hide from. every american ought to be looking at this bill, saying these people are crazy for trying to do this. stuart: congressman, last one. are you well? >> i'm really well, stuart. getting better every day. i appreciate all the prayers and support. god has been great to me. stuart: congressman steve scalise right there. let's turn to money. going up some more, up 150 at the opening bell for the dow. up about 45 for the nasdaq. the texas attorney general opening an investigation after

san antonio banned a chick-fil-a restaurant from opening in the airport. how about that. great story. we're on it. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠

brighthouse financial. want more from your entejust say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password.

hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome. stuart: remember when we told you about chick-fil-a being banned from san antonio airport? well, the texas a.g. is

investigating. on what grounds? susan: on first amendment violations after the city council voted to ban chick-fil-a from san antonio airport because its owners has staunch christian views and he works with groups that want to ban same sex marriages, so the a.g. in texas says okay, we'll look into that. also, he will even notify the transport department, the u.s. transport department, and look into the federal grants that san antonio airport actually gets from the government because this violates the first amendment rights. you can say whatever you want. stuart: if a restaurant takes a political position, they have the freedom to say it. they shouldn't be banned from saying it. i don't get that. however, i'm going to move on. 30-year mortgage rates, this was a real big story when we broke it, when was it -- ashley: thursday. was it yesterday? susan: come on, guys. ashley: where am i?

susan: it's friday. stuart: what's my name again? 4.06%, the lowest in 14 months. it was the biggest drop in a one-week period in a decade. this is surely a shot in the arm for housing. ashley: it is. there's been a real slump and an interesting stat came out, the first quarter of this year, housing prices have become unaffordable for 75% of the average earner in counties across this country. the dropping rates is a shot in the arm, of course. it is as you say a 14-month law. mortgage apps last week, applications, that is, up nearly 9% last week. refis are up 12%. the number of lenders is dropping to get your business. if you can get a refi at under 4% that's pretty darned good. stuart: 4% mortgages and nearly $4 a gallon gas in california. ashley: right. stuart: it's a stretch, of course. ashley: a huge stretch. stuart: i will go with it.

work with me. ashley: oh, yeah. $4 gas. stuart: dow industrials will be up 140 points at the opening bell. we like that on a friday. the nasdaq will be up about 43 points. solid gains across the board. maybe it's lyft that's doing it. we shall see. back in a moment. you wouldn't accept an incomplete job from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. ifor another 150 years. the fire going ♪ to inspire confidence through style.

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stuart: i predict this is going to be a very big day. we're about ten seconds away from the actual start of trading. i'm looking for at least a 100 point gain for the dow right from the get-go and that company on your screen, lyft, is about to go public. $72 is the offering price. off we go. in the very early going, we're off and running. here we go, up 140 points right from the start. 139, okay, we'll take it. roughly a half percentage point up for the dow industrials, 28 of the 30 are up. the s&p, watch the gain there. i'm sure it's a gain. same amount, about just over a half percentage point. show me the nasdaq. what's the gain? yes, it's a big one. here you go. the nasdaq is up three-quarters of one percent. it's a rally across the board. joining us today, jonathan layfield -- john layfield, sorry. jonathan hoenig. i'm sorry. one of those days.

susan li, ashley webster. got to start with lyft. we don't have the first trade yet. we are waiting for it. jonathan hoenig, isn't this the kind of company that you like to buy? >> well, certainly i like to applaud. i don't like ipos but i'm just in awe. this is wealth creation. lyft and uber, imagine if we told you just five, ten years ago that anyone could have his own limo driver and anyone could work on a gig type basis for however and wherever they want. this is a tremendous achievement for wealth creation. it was only possible after the taxi monopoly in city after city came down. but this is a tremendous accomplishment not only for lyft but for the american capital markets. these companies go public anywhere. they could go public in london, singapore. the fact they are going public here in the nasdaq right now is a great positive. stuart: john layfield, i would expect a pop in the price right from the get-go. what do you say? >> i agree, because the ipo was completely sold to wall street

insiders. this is the first time the public will get a chance. it's also important to note this is the first of the billion dollar multiple unicorns that are coming available on wall street. they got at the front of the line and this shows you how much money is chasing good yield out there and good returns out there. i worry about the valuation. i worry about the competition with uber. but i agree with jonathan, this is a great story. susan: first day hype always does well for big unicorn stock offerings like snap. lyft is losing money like snap as well but look where snap is trading now, below their ipo price. for lyft, this is a reality check and yes, first day might look good but it's a prove-me market. you have to start making money at some point which they might not be doing until 2023. check your valuation. stuart: i want to tell everyone if it goes out at $72 per share, general motors, which invested in lyft back in 2016, will make $800 million on their initial investment. that's a nice gain for gm at

$72. it may be higher than that. ashley: or lower at the close. we'll see. stuart: it could be. logan green, john zimmer, the co-founders, they are going to make hundreds of millions of dollars. i should say, be worth hundreds of millions. susan: just a note on ownership. those two owners of lyft, they basically own less than 5% of the company but because of the dual class common shares being offered, they will have 49% of the voting power. you have to keep that in mind as well. stuart: they control the company. by the way, valerie jarrett, big friend of the obamas, her investment, she got in early, her investment at $72 a share would be worth $478,000. ashley: not bad. susan: good for her. stuart: there you go. look, this is march 29th, correct, the first quarter ends today. it's been a terrific quarter. all the averages, all the indicators are nicely higher, double digit gains across the board, i think. john layfield, does this momentum carry through into the spring?

>> i think so, because of the competition. you look at what's going on in europe right now, no one knows what's going to happen with brexit. the brits voted against the deal and against the no-deal. i don't think anybody has an idea what's going to happen with europe. especially, even if it works out well, you have a slowdown in the german economy specifically, look at manufacturing data. so when you look at the world, where to put your money, even if there's a slowdown in the u.s., we have full employment, we have wage growth. this is the best place by far to me to invest, as long as we get rid of this trade war. stuart: you're right about brexit. nobody knows what's happening. >> look, we might underperform but look, there is a real possibility that even if the economy fundamentally does well, that this market which has been on a tear, i mean, my god, what a change it's been in just three months. in december we were talking about an imminent collapse. i mean, christmas was as ugly as it could get. it's been an incredible quarter. i'm not a bear but i think now's a good time to in a sense get one's financial house in order. we hear about how much debt people have. those numbers continue to climb.

given the economy and the market are strong, now's a great time, get your financial house in order so that when the bad times do come and they always do, you are prepared. stuart: got it. ashley: first quarter earnings season will be really critical this time around. we know what the big companies are saying looking forward for the rest of the year. stuart: you got it. i want to take a look at wells fargo. look at the stock right now. that's tim sloan is out, bottom line, and the stock this market premarket at $50 a share. put it up, please. there you go. it's at $49, virtually unchanged. susan: no reaction. stuart: elizabeth warren wants to put that man, tim sloan, in prison after investigation. look, jonathan, i say sloan's getting out is a purely political move. what say you? >> yeah. why would anyone want to be part of it? why does he need that? there's this fantasy that banks successful.regulated swashbuck

that's what they would have you believe. banks are the most regulated industry in america. the federal reserve, the s.e.c., occ, cfpc, so it's oftentimes the regulation that causes -- susan: it's not even tim's fault. he's the garbage man, there to pick up what the previous management team got them embroiled in. yes, the federal reserve did something unprecedented last year which said basically you can't grow your assets because of all the scandals, fake accounts, also the mortgage, auto loans, when they were inserting extra fees. this is not his problem. he was here to try to do a job. stuart: politics. ashley: he's been at that bank a long time. he knows where some of the bodies are buried. he's been very slow to turn this around. you need a leader who is not associated -- let me finish --

you need someone not touched by past sins to come in and really turn this thing round quicker. he was in positions of power prior to his job at the top. he knows some of the things, these things went on under his watch and others. stuart: i think we have -- ashley: the culpability of mr. sloan. stuart: last word to you, jonathan. >> how long before we have elizabeth warren choosing the ceo of wells fargo? if they are going to play such a close hand, this is a political motivated move. ashley: i'm not defending wells fargo. stuart: if elizabeth warren chooses the successor to wells fargo, i would short that stock and that's a fact. we still have a triple digit gain. we were up 150. seven minutes in, we are up 120. let's talk boeing. the "journal" reports the stall prevention system on the max jet switched on automatically before the plane crashed in ethiopia. that came from the plane's black box. boeing is up a little. it's back to $375 this morning.

not so rosy forecast from the company formerly known as restoration hardware. down 16%. how about that. walgreens are going to sell cbd products in 1500 stores. jonathan, cbd is going mainstream, looks like it. >> yeah. yeah. i think the same way back in the late '90s we used to talk about the worldwide web, it was oh, have you heard of the worldwide web. same thing now with cbd and cannabis write lar large. it's the same as therapy in the '60s and '70s, that became mainstream. you will see cbd widespread right now. that's why maybe cannabis companies are such great investments, when you have freedom you have prosperity for all. stuart: john layfield, would you or have you bought any cannabis stocks? >> i haven't, no. i think there's too many people chasing the valuation. i think cannabis is like sports betting. it will take over all around the country because states are in such dire straits with their budgets and need the extra tax

revenue. with cbd, i think the market is there. it's the same thing, people are chasing a lot of valuation. i worry about the valuation of these stocks. stuart: let's talk twitter. they may put warning labels on tweets from public officials that twitter considers offensive like those from president trump, for example. any idea how that would work? susan: okay. so twitter's head of legal policy making the announcement saying okay, so the social media company, we will try to find ways to maintain our standards while adding context from tweets that people care about and that are talking about. so in the future, i don't even know why we use the president's tweets as an example because is at the worst violator of this, no. but they are saying, critics have said president trump has made inflammatory remarks on twitter. stuart: if they thought he was bullying or being inflammatory, can you imagine that? drop the tweets of the president of the united states of america? ashley: have you seen some of the tweets? to susan's point, it's tame compared to what's going on out

there. susan: what about first amendment rights? hello? stuart: yes. twitter stock is down a little. all right. i've got to say thank you very much to john layfield and jonathan hoenig. i got it right. gentlemen, thanks very much indeed. good stuff. show me that market. holding on to a triple digit gain. we were up 150 couple of minutes ago. now we're up 107. 25,800. that's where we are. here's a unique fashion collaboration. what do i know about this? susan: good question. stuart: forever 21 is teaming up with the postal service for a new clothing line. susan: what? stuart: it would include teeshirts, jogging pants, jackets, featuring vintage postal service logos and design. you don't fancy that? president trump mocking the green new deal at the michigan rally. he wants to run against a socialist in 2020. however, there's a new poll showing joe biden would be hard

to beat. a member of the trump 2020 campaign will join us on that one. first, though, the president also called on democrats to apologize for the whole collusion story. watch this. >> the democrats have to now decide whether they will continue defrauding the public with ridiculous bull [ bleep ], partisan investigation or whether they will apologize to the american people. itrade's go. free access to every platform. yeah, that too. i don't want a

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stuart: the big story on the market today is undoubtedly the

lyft ipo ride sharing service, first chance to buy stock in it if that's what you want. we haven't got the first trade yet. as soon as we do, you will see it. president trump capping off what i'm going to call a very good week with that rally in michigan. listen to what he had to say about socialism. roll tape. >> put a good socialist in this position. go get yourself a good socialist. you'll see some deflation. you'll see a nice deflate of your stocks and your bonds and your 401(k)s. stuart: meanwhile, look at this. quinnipiac poll, joe biden on top of the democrat pack with bernie sanders and beto o'rourke behind. by the way, joe biden is ten points clear of bernie sanders. joining us, marc lotter, strategic communications director for trump 2020. trump wants to run against a socialist but looks like he will be running against joe biden. what do you say? >> well, he's not in the race yet but let's not give the

former vice president a free pass. just the last weekend or so when he almost accidentally announced his candidacy, he was telling people he's the most progressive person out there. it's clear they are all running to the radical left and i also think it's very important, california moved up its primary next year. you're not winning votes in berkeley and san francisco by being a moderate. you are going to have to -- the democratic candidate who comes out of that primary is going to have to run to the left, endorse the green new deal, want to eliminate cows, eliminate cars, or they're not going to win that primary. stuart: it sounds like you think you could steamroll over any of the announced candidates thus far and throw in joe biden as well. that's what it sounds like. would you admit to being worried about anybody? >> i think they are all the same right now. when you look at that grouping of candidates, each one of them is having to run to the left. they're going to have to run -- who can run to the furthest left and create the most excitement among that radicalized base and

when they come out of that primary, they are going to be battered, broke, they're not going to have a national infrastructure and they have a national party that's in disarray. meanwhile, president trump's going to continue running on his accomplishments. you are going to continue to see that strong economic growth and then we'll be ready to get that campaign moving next summer with a candidate who is fully funded and ready to go. stuart: marc, you mentioned infrastructure. presidential candidate amy klobuchar unveiled a trillion dollar infrastructure plan. this afternoon, mr. trump is going to florida. he's talking infrastructure there. can you give me an outline of the presidential infrastructure plan? >> well, the president has been talking about an infrastructure plan for two years now, since the early days of him taking office. he's got a plan right now that he's supported for those last two years that would put about $1 trillion in new infrastructure spending but the key is, it's about $200 billion in federal funding. what the president understands

is that for every dollar the federal government spends on highways, we get about a $40 return. this is mostly a state and local government function, where the federal government is the partner. so what he wants to do is maximize that investment, put a little bit of seed money in there, then help the state and local governments do it. what you're seeing coming out of the democrats right now is just what you usually see, more spending, more spending, more spending, with no accountability or results. stuart: last night in michigan, the president called adam schiff, intel chair, he called him little pencil neck. that's pretty nasty. you think he should have done that? you think that goes down well? >> you know, the president is known for punching back ten times harder. in this case, let's be honest. adam schiff lied to the american people for over two years on his evidence about so-called collusion which the mueller report fully exonerated the president on. they are doubling down on this. that's a reason why he's lost

the credibility of so many in congress and you know, the president has a way with words on these things but also what he's doing is giving voice to what the american people know. this was a hoax. they were lied to and now there needs to be some repercussions. stuart: marc lotter, 2020 trump campaign, thanks for joining us. appreciate it. check that big board. we no longer have a triple digit gain. now we're up 85 points but we're still around 25,800. stock story of the day is going to be lyft. it will begin trading sometime soon. hasn't started yet. as soon as it starts to trade, we'll have a price for you. it's supposed to go out at $72 a share. probably going to be higher than that. susan: you know, facebook took two hours to see its first trade on its debut. with the volume of buys up there and the stock orders, it's hard to match the pricing at this point. stuart: wasn't the facebook ipo messed up a little bit? susan: yes.

stuart: let's see what happens. susan: that was because the sheer volume of interest from investors. stuart: true. there's a lot of interest today, that's for sure. this is the stock of the day, when it opens. all right. the european union, dare i say, at it again. it wants to ban all single use plastics, not just bags and straws. everything. single use plastic, out in europe. maybe. we're on it. back in a moment.

stuart: the white house coming down hard on venezuela and russia. ashley: yes. national security adviser john bolton putting out a statement condemning the maduro regime for use of foreign military personnel in venezuela in an attempt to remain in power, including the introduction as we know of russian military personnel and equipment. he says we consider such provocative actions as a direct threat to international peace and security in the region. he says we will continue to defend and protect the interests of the u.s. and our partners in the western hemisphere. obviously saying to russia, as we know, the president has said out. russia needs to get out and all options are still on the table, and there is part of that statement. very strong from the national security adviser. stuart: the president was blunt, wasn't he, get out. next question. how about this one.

the european parliament has banned single use plastic items like straws, cotton swabs, they have plastic in the middle. cutlery. all banned. ashley: yes, indeed. they say that look, we want this to be done by 2021 which is just a couple of years away from now. basically, more than 80% of the litter that's in the oceans around the world is made up of plastic. 150 million tons of it into the oceans, five to 13 million tons are added every year. we know this is having an impact on marine life. by the way, gets into the system of the marine animals and by the way, it gets into the human food chain as well as a byproduct of that. i'm all for it. it's awful. stuart: i approve. it's not like me to say this, i approve, you approve and i think susan li is opposed to us. susan: not opposed. it makes my life a little more difficult. if we are going to save the dolphins, why not. stuart: there you go. here's a story. disney at their theme parks in the united states, banning, a,

large strollers and b, smoking. tell me more, susan. susan: starting on may 1st, i'm surprised it took this long, to be honest, because disney is a family affair kind of brand, "star wars" and mickey and the likes. starting on may 1st, disney world, espn sports complex, anaheim disneyland, also two water parks in orlando as well, they are banning smoking and also, those large strollers. so it looks like it's family friendly. before, you could smoke outdoors. there are areas for it but now you can't. if you do, you could be -- first, you have to pay a fine, $250 to $500 cleanup cost, cleanup fee, if you are caught doing this. stuart: do you approve? susan: i absolutely approve. especially with kids around? you don't want them around smoke. stuart: you're not sure about banning single use plastics in europe but you are sure about banning large strollers and smoking in disney parks. susan: that's a good description. that's an accurate description of how i feel today. stuart: okay.

look, we are all waiting for lyft. we haven't got the first trade yet. it's going out at $72 a share. odds are the opening price will be higher than that but i don't know that for sure. as soon as we get that first trade, you'll get it. jussie smollett story taking more bizarre turns. the whole thing to me shows the power of the elites. i think they will regret it. you will hear my take on that in the next hour. plus, we will talk to the head of the chicago police union. he's really not happy about what's going on with the smollett case. building a better bank starts with looking at something old, and saying, "really?" so capital one is building something completely new. capital one cafes. inviting places with people here to help you, not sell you. and savings and checking accounts with no fees or minimums. because that's how it should be. you can open one from right here or anywhere in 5 minutes.

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stuart: bang, right there. 10:00 eastern time. it is 7:00 in california this friday morning. we're back up to a triple-digit gain, up 120 points almost. we're getting the latest read on the economy. this is the michigan consumer sentiment indicator. it is very important and i think -- ashley: we do. we just got it. 98.4. the estimate was 97.8. that is good. it was up in february. we're going up again on consumer sentiment which is important for u.s. economy. that is good, confidence. stuart: dow, up a few points, not a huge breakthrough. we have news on new home sales. new homes. what have you pot? susan: better than expected.

single family home sales, up 167,000 in the month. that is higher rate than what we saw in january. that is reinflation. up 4.9%. a little less than what we saw in january, still pretty good strength in northeast, midwest and the south. there you go. stuart: new home sales looking good. consumer sentiment looking good. the dow jones industrial average responding with a gain, moving up. we're up about 116, 120 points on that one. that is half a percentage point up. now this. the jussie smollett smollett story has nothing to do with money or markets. we're glued to it because it shows the power of the elites. they will rue the day they use that power to get smollett off scot-free. the story has taken a truly bizarre turn, several bizarre turns in fact. one of smollett's lawyers, tina,

says he was not lying when he said his attackers were white, no. the two nigerian brothers were possibly wearing white face. possible, yes, but laughable, totally laughable nonetheless. mr. smollett arrived in los angeles last night. he refused to answer any questions at the airport. he is in los angeles to accept an image award, nominated for an image award from the naacp. what image would that be? pray tell? wait, there is more. chicago wants smollett to repay the 130,000 cost of the investigation. in response his ace legal team demands an apology from the mayor and the police chief for dragging an innocent man's character through the mud. hmmm. let's review for a moment. smollett said trump supporters had beaten him and put a news around his neck. his story fell apart.

he was hit with 16 felony counts. michelle obama's former chief of staff got ahold of the prosecutor kim foxx, lo and behold the charges were dropped and record was sealed. it is not over. the chicago police union will file suit to get back $130,000. if they win they could get triple the money. if he refuses to pay they could garnish his wages. the chief joins us in a few minutes. this is chronic embarassment who got the high and mighty who got him off. for the naacp, and lawyers who made fools of themselves and the prosecutor who surely to the herself in real trouble. there is however a winner. president trump. they tried to slime him an ended up sliming themselves. let's get right into it. come on in charles hurt, fox news contributor. charles, i think the elites will rue the day they interfered in this. what say you? >> i certainly hope they will although they haven't shown much of a tendency to feel any shame

whatsoever in other endeavors. i don't know if they will feel much shame about this the whole case, it is such a perfect case for our time, if you stop think about it. you look at this, this whole russia probe over the last two plus years with donald trump, and, these people would spin the most fantastical theories and accusations. all of it was perfectly fine as long as it slimed president trump, as long as it slimes trump supporters. it is perfectly okay. so, you know, i can't, i almost, sort of have a hard time blaming jussie smollett however you pronounce his name going off on something like this, he clearly looks around, you're allowed to say whatever you want as long as you're accusing these people of racists thugs. stuart: did you agree that, it is president trump who emerges from this as a winner?

they tried to slime him with false accusations that mr. smollett was beaten up by trump supporters. that is absolutely not true. >> absolutely true. there is narrative we've seen there is clear evidence of everybody loves to line up, media, the elites, they love to line up to slime president trump and it turns out that it is not true. i mean, same with the all of the russia conspiracy theories. now you actually have rahm emanuel, the mayor of chicago coming out saying, blaming president trump for the whole situation. i'm like, oh, my goodness, he has given up one conspiracy theory and he has to pick up another conspiracy theory. it is all very good for president trump, i hate to say it, it is such a disgusting, ugly, sad situation but it is very good for trump. it shows just how desperate his opponents are, but also reveals, it allows him by juxtaposition,

concentrate on things actually people care about, issues, things like that. he is quietly stealing support from his detractors by being a serious guy talking about serious stuff. stuart: charles, stay there for a second. i want to turn to the major news, i should say the money story of the day, and that is lyft. that stock going public today, the company i should say going public today for the first time. david bahnsen with us. bahnsen group chief investment officer. david, i'm not going to suggest you would buy the stock today, it is not your kind of company, not your kind of stock but what about later in the year when things settle down, would you consider an investment in lyft? >> well, again, our focus on companies that we buy on companies growing free cash flow, and i would love to see lyft grow their free cash flow. right now their free cash flow is negative one billion dollars. so they have a very good chance of growing from where they're starting but i doubt it will happen this year, stuart.

i think, this company will have to evolve over the years and to get to the point where we can consider it investable, i think they have a way to go but that doesn't mean they can't succeed, you know? they have a tough road ahead. it is not something we would be buying now and participating in the first day mayhem. stuart: how do you explain the excitement? there is genuine excitement for this company? i mean, it is, we've been open now, for what 37 minutes. we haven't seen the first trade yet. they're trying to figure out what price to do it. how do you explain the excitement? >> i think that we have a 25-year-old, you know story of ipos going back to the dot-com era being really fun. they're intrinsically exciting. back in the late '90s a lot of those names were popping up, it was a point in my career, it was a lot of fun. i certainly understand it. that story changed dramatically.

it just isn't true anymore. i kind of learned in my time. i spent a lot of years at morgan stanley before i started my own firm. the rule of thumb was, if you got a big allocation of an ipo, you didn't want it. and if you wanted it, you didn't get a big allocation. and so i recall, like yesterday, with the facebook ipo. then people calling all night long, giving you more shares and more shares. there was such an abundance of availability and we know what happened to that ipo out of the gate. what happened to that company later? they executed. it became a very profitable investment for people who were actual long term investors. but the excitement you're referring to, is about people who wanted initial pop. we call it free money. and we don't believe such a unicorn exists. it is not what we're here to do. stuart: last one, i think there is going to be a pop right from the, right from the get-go this morning. i don't know how high it is

going to go but i think it will be a pop. we shall see obvious but then it will settle down but i don't think it will settle down for some time. what do you say? >> i think it is entirely possible it pops that way. it will come out 20 billion-dollar market capitalization. on a company that loses a billion dollars a year in cash flow. what does first day is inherently unpredictable because obviously it will not be connected to any real valuation metric or any fundamental. i would caution people about snap and twitter because those are a couple of companies that also popped and popped meaningfully first day. and they didn't just subsequently drop. they completely tanked. and so i think those are the types of things that, people that are being really speculative have to be careful about. ultimately if this is long term company with a long-term prospects, they will execute. as far as first day stuff goes

it doesn't really mean anything for the actual prospects of the company months ahead. stuart: david, thanks for being with us this friday morning. thanks very much. i want to talk politics with charles hurt. looks to me like the ball in the gop's court because the democrats have a climate plan. we don't like it, but they have a climate plan. they have a infrastructure plan from amy klobuchar yesterday and health care plan. seeps like the gop has to come up with three plans in response? >> infrastructure plan is something to watch. climate plan, who knows. that devastating defeat of the new green deal in the senate was, i mean they couldn't even get a single vote in favor of it. democrats, 57-0. it went down. shows just, how troubled all that stuff is. but infrastructure is a real thing. obviously the president is is

clear to put out serious money to do bridge building. democrats will get on board. republicans need to figure out where they are on that. in terms of health care the president once again is reminding people why he got elected which is, they didn't just promise to abolish, to end obamacare. they promised to repeal and replace. and donald trump isn't the only one who ran on that promise. republicans ran on that promise and they have been running on it for a long time, for several years. finally they got the opportunity with president trump in the white house to do it and absolutely failed. they whiffed. they didn't have a plan. and that's a real problem. stuart: it is going into 2020 it's a real problem because the democrats will run on health care. >> absolutely. stuart: charles, terribly sorry, i have to run. have to keep everybody informed about lyft. we do not yet have the first trade. we're waiting for it and when we get there you will know it real fast. president trump took a real

victory lap on mueller, the economy, just about everything. we're talking about it throughout the rest of the program. i say it has been a really, really good week for president trump. to the border, another migrant caravan, described as the mother of all caravans, maybe 20,000 strong, forming up in central america. tom homan, i.c.e. guy coming on about that later. next though the head of the chicago police union reacts to the latest bizarre developments in the jussie smollett case. this is the second hour of "varney & company".

s.

stuart: friday morning, 45 minutes in. we're up 118 points on the dow, the best part of a half percentage point. let me show you this real fast. not so rosy forecast for the company formerly known as restoration hardware. they're taking it on chin. they're down 17%. weightweight watchers launca new campaign on march 31st, oprah winfrey speaking to members why it works. 5% gain on that news. the jussie smollett case, back to it, chicago mayor rahm emanuel wants him to pay back at least 130,000 bucks into the police investigation of his false claims. watch this. >> my recommend stations when he write as check, in memo section he can put the word, i'm accountable for the hoax. stuart: president trump says the fbi will look into the case as

well. listen what he said last night. roll it. >> how about in chicago? he said -- [booing] he said he was attacked by maga country. did you ever hear that one? maybe only time i have agreed with the mayor of chicago. that's a terrible situation. that is an embarassment, not only to chicago, is an embarassment to our country, what took place there. stuart: joining us on the phone, kevin graham, president of the chicago fraternal order of police. kevin, as i understand it, the police union is filing a civil suit, is that correct, sir? >> no. the city may be filing a civil suit. we filed a request to have the federal government come in, do an investigation two weeks ago because we felt something wasn't right with the prosecutor's office and so we had already been moving on that. stuart: what's the mood amongst

police officers in chicago about this? >> you know, many of our detectives and police officers worked extremely hard on this case. they go without eating, without sleeping, sometimes for 24 hours or more because they're trying to do the best for the people of the city of chicago and people they serve and to that very work being told, hey, this doesn't mean anything, that is very hard for them. they take pride in their work. they did a good job. they worked hard. it is unfortunate that is how we get treated by the prosecutor's office. stuart: here we have chicago wracked by really serious violence. how do the people of chicago feel about this case? >> you know i'm currently on my way to a police officer's funeral that was shot over the weekend. one of the people that shot him should have been in jail but they lowered the charges on him. my officer would still be alive today if that person was held in jail, accountable for the crimes

instead of lowering the charges against him. i think we're upset. i think the people of chicago are upset. stuart: can i wrap it up like this? >> sure. stuart: this is not over, right? >> that is correct. stuart: sir, thanks very much. thanks very much for joining us on the phone this morning. it is appreciated. we'll keep in touch with you on this issue. thank you, sir, much appreciated. president trump is making a big push in the midwest, all about keeping the rust belt in his column in 2020. scott walker, former governor of wisconsin, he is going to join us in our next hour. yes of course we are waiting for the first trade in lyft. could happen at any moment. my opinion is, we could possibly see a nice pop for the stock when it does open. i have no idea how it will close of course. that is a very different story. but we're looking for that first trade. we really looking to see what the price is, when it first goes out there. you will see it, by the way, right off the bat as soon as we

have it. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade the big drug companies don't see they see us as profits. we're paying the highest prescription drug prices in the world so they can make billions? americans shouldn't have to choose between buying medication and buying food for our families. it's time for someone to look out for us.

congress, stop the greed. cut drug prices now.

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stuart: we do not yet have a first opening price on lyft. we're almost an hour into the trading session. it has not opened yet but as soon as it does you'll know about it. the dow is up 112. our kristina partsinevelos, is tracking it all, the lyft story from outside of nasdaq. greetings. how does lyft compare to its competitor, uber? reporter: i will get to that. just so you know we're expecting shares to come out ipo 10:45 eastern time. why you haven't seen it yet. it will be priced $72 a share, higher than what we originally thought. that shows how many people want to get in. it has been oversubscribed.

there is 32.5 million shares on market. stuart, you will see a pop once it goes live at that time. if we get down to the nitty-gritty the fact lyft went first before uber and how those two companies compare, let's first look at the fact you have two unicorns, companies valued over a billion dollars and do not make any profit. you have got lyft valued at over $24 billion versus uber that is valued at some people are saying $120 billion! and the fact that both companies operate at a net loss. last year, net loss of $911 million for lyft. 1.8 billion for uber. the difference, i'm sitting at nasdaq right now where lyft is going public on the nasdaq but uber is opting for the new york stock exchange. so there is more after battle there too, not going for what we normally consider the tech outlet which is nasdaq. that is another comparison.

of course you have to talk about market share. lyft, according to their filings they have 39% market share of the u.s. market but they're not available internationally versus uber that is around the globe. we're talking long-term strategy. a lot of people wondering should i get in? is this a good opportunity considering both companies are unprofitable and starting trend of tech ipos? wedbush thinks the stock will go up to 80 bucks a share but they're worried about the long-term sustainability give the company is not turning a profit and they're investing in autonomous driving. that will be a big question for a lot of viewers watching. do you want to get in right now? do you want to wait, ride it out, snapchat went public on new york stock exchange. they hit $27 a share, then came down. it is a little bit of a risk given the lack of profitability. i'm sure people are excited. back to you. stuart: buyer beware. kristina, thank you very much.

let me tell everyone, some companies will make a ton of money on lyft at $72 a share. it might be higher priced but at 72 bucks. general motors will make $800 million on its original investment in lyft. ashley: pretty good. stuart: let's not forget, valerie jarrett, friend of the obamas, her stake would be worth $478,000 at $72 a share. susan: largest investor is in japan. they shunned -- stuart: 2.8 billion for a big piece of. susan: interesting mix of shareholders. we showed you pictures of migrants detained in el paso. wait until you hear what congresswoman ilhan omar said about it. truly outrageous. we'll be back. you wouldn't accept an incomplete job

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♪ stuart: one of my favorites. across the universe. drifting through my open mind. ashley: they're not in parliament. no waves of joy there. stuart: very good. one of the best segues i ever heard in my life. britain's parliament set for another brexit vote. tell me more. ashley: this is last vote for theresa may. this is all gone off to vote. why the house of commons is empty. the last chance to vote on theresa may's withdrawal agreement. she told them before they went off to vote, this is the last opportunity if you want to deliver "brexit." if they turn it down, the latest numbers suggest it will get beaten not as much as first two times around, they have until april 12th, the brits to come up with something else or they're out, they're done. stuart: totally lost.

ashley: put it this way, they vote yes, they will go out on may 22nd with a deal in place. if they vote no it is up to the eu whether they give them more time to get their act together. increasingly the eu is fed up with what is going on. you know what? just go. just go. we're fed up. hard brexit. stuart: i would like to see that. ashley: french president macron says go. if you can't come up with a decent answer, just go. that is what many people in britain would like, at least those that voted for it. stuart: what is just go in french? susan: aurevoir? ashley: a few words i can't use. stuart: this is trying to get a few words. this is uphill struggle. brexit, smexit. positive on consumer confidence. positive on new home sales. we're up 137 points, better than half percent. we're waiting for the lift shares to open? that is expected any moment now?

susan: it will take a while. alibaba took 2 1/2 hours to get the first trade. stuart: that's right. susan: don't forget we had two hour wait for facebook as well. it is about imbalance in terms of orders, looking for sellers at the right price, matching underwriters and moneymakers, market makers. it is tough when there is so much interest in an ipo like lyft. stuart: a lot of excitement about it. let's not downplay it at all. this is very big deal. ashley: this is no brexit. susan: longer you wait the price goes higher. stuart: longer you wait the more interest. ashley: pump up enthusiasm. stuart: that's what you do. president trump is heading to lake okeechobee in florida this afternoon. infrastructure on the agenda. come on in, florida congressman greg stuebe is joining us on the phone. congressman, he is inspecting a infrastructure project?

what is he looking at today? >> i think we'll look at herbert hoover dike, which last congress, and with help president, they were able to appropriate $500 million to improvements in the dike. it is great for florida and great for this area. the lake okeechobee is vital to interests of south florida. it is great the president is putting attention and time to come down here, talk about how important it is to florida. stuart: congressman, i don't want to go off on a tangent here, has this anything to do with the red tide issue? there was really a problem for much of south florida last summer. >> scientifically they will tell you, scientists talking, not me, there is no correlation between the discharges from lake okeechobee and red tide occurrences. red tide is naturally occurring instance with the algae that we have naturally occurring in the beautiful -- gulf, but some people say the nutrients, the

red tide will feed off that. there are nutrients when the lake releases. it's a big issue in florida and i'm happy that the president will spend his time to come down here to talk about it. water is the lifeblood of florida, both from agricultural standpoint and tourism standpoint. it is very important that we as elected officials do what we can toe insure the water quality in florida is the best we can possibly have. stuart: indeed, sir. greg stuebe, republican, florida. thank you very much for joining us. we appreciate it. i think you will be with the president this afternoon. we wish you well on that mission. >> thank you, sir. stuart: i want to get back to the president's rally last night. i will call it a victory lap about the mueller report. watch this. >> economy is roaring, the isis caliphate is defeated 100%. [cheering] after three years of lies and smears and slander, the russia

hoax is finally dead. the collusion delusion is over. stuart: all right. we got the message there from the president. look at this, headline from foxnews.com. there was collusion against trump by his enemies. come on in, charlie kirk who wrote that article. collusion by his enemies. spell it out. >> well, look if you look at people actually within the fbi, how this investigation started was so suspicious. the phony dossier, bruce ohr, so many questions around exactly how that started, whether it be clapper or people in the government before there that actually authorized the fisa warrant, going to the firing of james comey many months later. then this phony russia investigation started. but from my opinion and the opinion of many other people such as gregg jarrett, this was never about russia. this is about revenge. this is about getting back at a president who is not supposed to win the election.

not to win the election and upset applecart and dreams of aspirations of d.c. elite ruling class, wise men of washington wanted to see hillary clinton to be president. they used this narrative to try to destroy the president. he is totally vindicated. we must not forget how this started. there is still a lot of questions left to be answered. stuart: there is a school of thought which says the president should give it up, move on, forget about the past two years, move on, get something done in congress. you don't approve of that view? you want to go back to look what really happened in the first place? >> absolutely. i respect karl rove a lot. i know he wrote a piece in the "wall street journal," a thoughtful piece, you will not win people in the middle over. i totally disagree. what will prevent this from happening to a future president? nothing now. no one is still held accountable some questions need answers. whether democrat or republican, doesn't matter. the fact this was able to be done under a fairly-elected president is something concerns

all people, within the government they have this back channel, lisa page and peter strzok says we need the insurance policy. is this insurance policy they're talking about? there are questions and we need to focus on it, get answers to the questions, make sure this doesn't happen again. do not agree you should move on and forget about it. stuart: charlie, latest poll i have seen, shows joe biden 10 points up bernie sanders as candidate for 2020. president wants to go up against a socialist. he might be going up against joe biden. i will not call him a socialist. i saw the eyebrows raised there. do you think joe biden is strongest on the left to go up against our president? >> i on paper it seems that way but if history is any indicator you don't want to be at first place this point in the race. there will be a lot of upheaval. joe biden is starting to look at democrat base, saying this is not the democrat party i used to

be a part of. he is apologizing for past positions, reconcile with previous votes to pander to the new radical base. tells more where the base of the party than where the candidates are. they want to go where the energy is. that is base politics. right now biden is leading in the polls but you don't want to be leading this far out before you even announced, it makes you a target of all the other candidates to put their energy and focus on. he candidate that would do better in the midwest than coastal, malibu elites that democratic party is attracted to. stuart: the malibu elites. i have not heard that expression before. i will steal it and i like it. charlie kirk, see you real soon. >> you bet. stuart: serious stuff now, the crisis at the border, it has reached a breaking point. thousands of migrants crossing by the day. tom homan coming up on that one. we're moments away from the first trade of lyft. the longer we wait maybe higher the price. we shall see.

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ashley: results are in. another big defeat for theresa may. went down, 286, yes, no, 344. they have two weeks to come up with something else. otherwise hard brexit. april 12th is cutoff point. she may be forced, theresa may, go back cap in hand, to the eu, please give us more time. i said the eu is getting fed up with the whole thing. stuart: wait a minute, the prime minister of great britain has to go begging in hand to the french, italians, all the rest of them, begging for -- ashley: this is the last chance to have any control. now up to the eu. stuart: get out, leave, come on. i should calm down. ashley: relax. stuart: there you have it. check the big board, we're still

up triple digits. the brexit vote does not affect our market, i think we can make that statement definitely. ashley: yep. stuart: we're waiting for far more important development here and that is lyft. the ride-sharing company, their first trade will be moments from now maybe. we don't know that for a fact. they haven't traded yet. they're going out at $72 a share. i want to know what is the first price, the first trading price? haven't got there yet. as soon as we do, you will know it. to the border, a top official says the border is at its breaking point especially in el paso texas, where a thousand migrants crossed into the region. it was 4,000 on monday. 1200 on tuesday. now the mother of all caravans, 20,000 strong, is forming up in central america. this is what president trump had to say about all of this, roll tape. >> we had to go down a little

bit after different path, if that is okay. national emergency it is. and if you look at the border, and you look at the hundreds of thousands of people that are invading, or at least trying to invade our country, you would know that we need it. and we're building it. we're building it a lot faster than anybody would -- and better, and better. it is better, it is faster, and it is less expensive. [cheering] it also much more beautiful. stuart: tom homan is with us. he is the former acting i.c.e. director. tom, i got to ask you what is being called the mother of all caravans, forming now in central america, soon to be on its way here. we're told it is 20,000 strong. are these reports reliable? is this propaganda from somebody? >> no it is not propaganda, i've been saying a year-and-a-half the caravans will continue and they will get bigger. when there is no consequence, no

deterrents why would they stop? why would they stop when you have half of congress fighting for open borders, want to abolish i.c.e., wants to push sanctuary cities, get to the united states, be protected by states and cities. we can't detain them, because the decisions made by the ninth circuit, why would they stop? for year-and-a-half it will get worse, keep getting worse. the wall will certainly help slow them down but congress needs to act this is going to continue unfortunately. stuart: okay. i want you to look at this tweet. it is from democrat congresswoman ilhan omar. i will quote from it. this is abhorrent and inhumane. it is without a doubt a reflection of what white national system doing to our country. as a country, we have to acknowledge that this is how people are being treated here and decide that we are better and we must do better. she is referring to the situation at the border and saying it is reflection of white nationalism. your response, tom?

>> that is ridiculous statement. what the hell does she know about the border? she has been congresswoman for three whole months? i've been doing this for three decades. i forgot more about this issue what she will ever know. this is nothing to do with racism, nationalism. as a new congresswoman let me educate her. your number one responsibility is to protect this nation and secure our borders and save lives. not only those of americans but those of the migrants trying to make this dangerous journey. as omar, again, she supports sanctuary cities. she wants to abolish i.c.e. she wants open borders. she wants to know why they keep coming? she needs to look in the mirror. she is ridiculous. makes absolutely no sense. she has never talked to an expert on the border what is causing this issue. she hasn't researched issue one time but out there saying things that will bring more people in this country. look in the mirror, omar. you are one of the reasons why this is happening. stuart: tom, look to the future, not that far in the future, just

down the road aways. these caravans keep coming. this monster caravan arrives what happens at the border? what will it look like? >> it is going to be chaos. mark my word, more people are going to die and they're going to point their fingers at the administration, rather than trying to fix loopholes that are enticing these people to come. i will say this again, if congress fails to fix this legislatively and courts keep suing the president for trying to fix this by executive action, no one else is doing anything, this president is only one doing something about this, i.c.e. needs to step up, i.c.e. needs to look for families and single adults, who had due process great taxpayer expense, they need to find them and remove them. we need to show consequence. we need to show deterrents for those come into the country illegally, commit immigration fraud. once we send the people home after due process you will see this thing start to decline. stuart: don't we need a lot more manpower, a lot more staffing on

the border? immigration judges at border, to decide asylum cases? border patrol people, i.c.e. people? you need more resources, don't you? >> absolutely. you know, stuart that is a great point. when the funding, fy-19 funding bill finally got signed we had the group working on it, they didn't give border patrol one person. they wanted to give i.c.e. less funding. they wanted to end family detention it. why the children increasing number children across the border unaccompanied, this bill clearly says i.c.e. cannot take action on criminal organizations that sponsor children to come into the country at great risk. more parents and sponsors say i will smuggle my children in the united states, because i.c.e. can't do anything about it. they can't set me up for removal if i'm in the country illegally. they ignored resources for requests for money for the wall. they keep enticing these people to come in. congress needs to step up.

the american people need to call congresswoman, republican or democrat, we need it done. president is taking it seriously, we need congress's help. stuart: keep pounding away, tom, this is crisis on border. >> i won't stop. i won't stop. stuart: do it. thank you, see you again soon. i want to go back to the brexit vote, as you may know, it failed, theresa may's plan again failed, 58 votes short. that is not important. the point it failed. she has to go back, keep using this expression, cap in hand. begging europeans for more time. ashley: if they can't come up with new plan, they have to give up on this plan. three times it has been defeated. they have to come up with something else or go to eu cap in hand, april 12th, give us more time. leadership is very much in doubt. susan: e all. called for emergency session on april 10th, two days before the end. stuart: earlier i thought it had

no effect on our stock market. i want to take that back. just before this failed brexit vote, the dow industrials were up 120 points. look at it now. a few minutes later we were up 65 points. ashley: chance of hard brexit has gone up that could have impact on financial markets. stuart: explain this, heart brexit without any special deal. ashley: wto rules, and they're gone. stuart: why would that be bad for us? or the market here? ashley: it shakes up the market. for financials, people doing business in the uk and europe it really changes things. where do you go from here? u.s. has tremendous investment in the uk economy. it will be very difficult. the uk is a great doorstep into europe and eu market. it is very big. it is vast. all of this, when britain walks away with no trade deal in place. it really complicates things. that can make trade, everything else -- susan: commerce. ashley: commerce affected. stuart: but surely a big opening for president trump. ashley: of course it is. yes.

stuart: why can't you just walk in with a bilateral, two-way deal? ashley: he said he would do that. susan: the concern isn't just bilateral between the u.s. and uk. the uk is global financial hub. they funnel money through all the european markets, internationally to asia as well. brexit does have an impact and this moves a trillion dollars already outside of london because expectations they will not come to any agreement. there might be threat of a hard brexit. stuart: president trump goes on a state visit to britain early may. ashley: yep if that is not opportunity -- ashley: if there is hard brexit, they will do that. they will get much bigger deal. stuart: i would love to see it. ashley: yes. stuart: all right, next case, i want to get to the midwest. truly devastating flooding there. much of the region actually. mike tobin with us live in crescent, iowa. set the scene please, mike. reporter: stuart, last week we

talked a lot about grain bins got wet and grain inside expanded and the grain bins burst. here in crescent, iowa, this is example at the reed family farm. this is what happens to the grain. this is soybeans. obviously all of this is ruined. when farmers sort the grain, some is starting to brought, when it got wet, the farmers this is their piggybank. this is their paycheck. dale, what do you do when the grain got ruined? >> we will try to salvage what we can. people ask you, that question awful lot. it is going to be, you know, get in there and see what you got. i believe, we're still, we'll still hopeful we will salvage percentage soybeans will not be very good, i'll tell you that. reporter: do you have insurance for stored grain? >> typically no insurance on deal like this, a flood. would be better off if we had a

tornado come through here actually. reporter: explain to people why do you store the grain instead of taking it to market? >> this is common practice throughout agriculture. looking for basis improvements for a little bit of tick to the market. timeliness of harvest. we're so pushed at that time, quicker you can get the stuff out of the field before it deteriorates. we're fighting mother nature all the time. how fast you get it done. labor, it is labor struggle that time of year this is typical. you know, you, store it on farm, move it throughout the year. reporter: want to look across the road. you can see all the bales of corn stocks you use that to feed the cattle? >> we have corn stalks for vetting and feed. there is no more cattle at this time. we do run some cows. we got the cows out of here, just actually just got them out

of here post the flood. got them out of here. reporter: at least your cattle are okay. big recovery ahead for farmers. big mess. supposed to rain this afternoon. the trick with the rain, doesn't necessarily cause more flooding. flooding is caused by water upstream. if it rains they can't get seed in the ground. it is now planting time. stuart. stuart: tough situation, mike tobin, good report. check the big board. we're up 57 points. that's it. the market took a move to the south when we got the brexit vote. brexit third time around, may's plan defeated all over again. big story on our market is not the overall market, it is lyft. shares are due to open at anytime now. we've been waiting all morning of course. $72 per share. that is the offering price. let's see where it opens. susan: very popular ipos like lyft much-hyped on day one. will take time to open. alibaba 2 1/2 hours.

facebook waited two hours. and the problem is with the order imbalances. there are a lot of buyers out there. they're trying to find right amount of sellers at the right price, match them up which is what the market makers do. that is proving a bit tough at this point. stuart: some people will make a lot of money. ashley: they are indeed. stuart: real big one. we are getting closer to the first trade of lyft. when it opens you could see a big pop. we'll see about that. we'll bring you that first trade as soon as it happens. that's a promise. president trump unleashed, that is my expression. his rally last night, i will call it a victory lap of the cap what i think is a very good week for president trump. we'll have that as the basis of my take, top of the hour. here we go.

stuart: it's now one week after release of the no collusion mueller report. arguably, the best week of the trump presidency. certainly a role reversal. he's on the attack and the democrats are now playing defense. it's no longer russia, russia, russia. it's now comey, clinton, clapper and a big side order of brennan. it's not what trump did, it's what the fbi, the doj, the cia and the clinton campaign, what were they up to? the president did not go to move on and forget, nor should he. america has been put through hell and we want to know why and how it got started. the democrats look weak. they're shouting coverup because the full report is not yet been

revealed. jerrold nadler is investigating trump's children. adam schiff still hasn't shown us the evidence of collusion he claims to have seen. representative al green shouts impeachment on the grounds that the president he calls a bigot. and rashida tlaib shouts impeachment on the grounds that he is dangerous. speaker pelosi is not in firm control. and the president's had a very good week, beating up on the green new deal. last night in michigan, he told a cheering crowd he loves campaigning against it. of course he does. even democrats running for the presidency wouldn't support it when it was up for a vote in the senate. they back it but wouldn't vote for it. it was another win this week. isis finally defeated. the remnants are hiding in caves and news came this morning that 50 of these terrorists were killed today by u.s.-led airstrikes. didn't get much coverage in the trump-hating media but it's another trump promise fulfilled. this week also saw an explosion in the border crisis.

literally thousands of migrants have overwhelmed the authorities. the president is entitled to say i told you so. the democrats do nothing about it policy is no longer tenable. this week is not over. the trump campaign rolls on. he's in florida this afternoon checking infrastructure projects. oh, what a difference a week doth make. the third hour of "varney & company" is about to begin. stuart: you have been hearing a lot about this today. the collusion delusion. the president said look, it's been lifted, the president seems to me to be keeping on winning. let's bring in our resident millenial to get her take on this. she's the host of the podcast "relatable." we also have deirdre bolton, who joins us for this hour, along with ashley webster. look, i have said that was a

pretty good week, probably the best week for his presidency. what do you think? >> i think so. president trump had a huge opportunity right now, not just to get to work but also p.r. now the democrats don't have impeachment and collusion to run on. all they're left with is open borders and socialism. if that's all you've got, then you really don't have much. president trump should continue to do what he's doing, do the good work that he has done for the past couple years and he should go win on the fact that democrats don't really have a policy platform to stand on. stuart: but the democrats are going to press very hard on popular issues. they're running with health care. they've got a plan. president trump, i'm not sure what his plan is. the democrats are running hard on climate change. they do have a plan. okay, i find it utterly ridiculous but they've got a plan. where's the republican plan? how about infrastructure? the democrats want to run with this. they've got a plan. what's our plan? to some degree, this week has

been yes, great for the president, but now he is on the defensive a little bit when it comes to the issues. >> i think you make probably a good point. however, the problem with the republicans is not a lack of a plan. we have seen republicans in congress come forward and say okay, maybe here's how we deal with climate change, maybe there are private sector solutions for this and also, here's a solution for health care. we saw dan crenshaw say this is what we can do to lower premiums. so there are solutions on the conservative side. the problem that we have is messaging and because we don't have as many megaphones and aren't using the emotional appeal that democrats do, we don't reach quite as many people with our rhetoric but i do think there are solutions on the right side to these problems. we just have to do a better job of communicating them. stuart: fair point. thanks for joining us this friday morning. appreciate you being here. let's talk about lyft. we are still waiting for the first trade. we haven't got it yet. it's going out at $72 a share.

we don't know what the opening price is actually. as soon as we get it, you will get it, too. that's a promise. ryan payne, president of payne capital management, is with us now. i don't think you are the kind of guy, the kind of investor, who would buy on day one, are you? >> am i that guy? stuart: a lot of people would like to get in early. the earlier, the better. because they think these kind of stocks will zoom at some point. >> they could. it's kind of like flip a coin. on the initial public offering, unless you got in before the ipo, really it's just a crapshoot on that first day. typically you want to wait for the stock to settle down before you make a decision. stuart: would you consider buying a company like lyft six months from now? >> i'm not a gambler but i have to say they have momentum at their back now. they have like 40% of the car sharing industry right now, which last year, they were up 17% from last year so they are really starting to chew into uber's dominance in the industry. that's a big deal.

they are doing a great job on the marketing and bringing people to their side. stuart: you are a young guy. >> thank you. stuart: not quite a millenial, as i understand it. you are right on the edge there. >> yes. stuart: a lot of millenials actually work for you in your company. is that the explanation for this excitement around lyft and uber and airbnb? youngsters want into this gig economy. >> i think they want in and they also see the potential for it. at this point, i think only like 1% of all driving is with a car sharing service last year so basically the room for growth is tremendous. stuart: hold on, i'm getting some indication that the first trade on lyft will be $85 to $90 per share. >> wow. stuart: $72, the offering price. the offering price. going out at $72. indication of $85 to $90 being the first trade. no surprise, really. >> my words must have resonated. ashley: well done. you have that kind of power.

get out of here. stuart: but that's not quite the pop that i was -- ashley: 20%, basically, from 72 to 85. that's pretty good. >> i think the question for lyft and uber, will investors be willing to pay for a company that has a lot of sales but is not yet profitable. these companies are not yet profitable. it is buzzy, it is how to get around in big cities but i'm very old-fashioned and tliek li see some profitability. stuart: when will they make money? that's the question. when are you going to make some money? >> a lot has to do with are the drivers contractors or employees? both companies are still working that out. that's a huge cost if they end up all being employees. stuart: having listened to all of this, six months down the road, you going to buy it? >> i think all those points are good and i think they are losing a billion dollars this year which is crazy. i think it's years before profitability. i think we have to think about the momentum trade right now. i think it will actually do well in the short term because they

will keep taking market share. >> to your point, i want to say i will contradict myself and say this offering was something like 60% above, if you value it at $21 billion, 60% above its last private valuation. whether we are right or wrong doesn't matter. the market seems enthusiastic about it. stuart: you got me. i was expecting a bigger bump. it's a nice, nice bump. let me just tell you this. some early investors in lyft will walk away today with a ton of money. there is a company i'm not familiar with, japanese amazon? ashley: amazon of japan. stuart: $72 a share. their stake is worth $2.3 billion. that's interesting. general motors put $500 million in in 2016 at $72 a share. they've got $1.3 billion in lyft, $800 million profit. that's not bad, i would say.

let's not forget valerie jarrett, she's a good friend of the obamas, she's done well. her stake, so to speak, is at $72, is worth $478,000. she's done well. the co-founders, logan green at $72, he comes into $602 million and john zimmer at $72 comes in at $415 million a share. what's wrong with you? >> i was waiting for the call. it just never came. story of my life. stuart: stay on the show. maybe you will get the call for uber. you never know, you never know. thank you very much indeed to you. ryan, thank you. now this. joe biden, he's in the lead amongst the potential 2020 democrats. that's in a new poll. steve hilton is going to take on joe biden. he's on the show shortly. president trump, he's in attack mode, unleashed in grand rapids, michigan. we are talking to the michigan

republican party chair. we are also talking to the former governor of wisconsin, scott walker. all of this before the president heads to florida later this afternoon. jam-packed third hour for you on "varney." i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪

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stuart: the dow industrials have come all the way back to a gain of 120 points.

we took a brief trip to the south when the brexit vote came in. it was defeated yet again. but now, completely recovered, up 116. we are still waiting for the first trade in lyft. we did receive an indication the first trade would be $85 to $90 a share. remember, it's going out at $72 so we are looking at a pop when it opens. we'll see how big a pop when we give you the first price. i want to update the border crisis. it is a crisis. border patrol officials say the situation's at a breaking point and are releasing migrants into the streets of yuma, arizona. their facilities can't take the number of people pouring across the border. second point, worrying about something called the mother of all caravans reportedly taking shape in central america. 20,000 strong. migrants from honduras, el salvador, guatemala expected. that is clearly a crisis. we have been showing you this all morning. president trump lighting up the podium last night in front of

thousands of michigan supporters. he covered everything, including the democrats' green new deal. look at this. >> the green new deal. i would rather not talk about it tonight, because i don't want to talk them out of it too soon. because i love campaigning against the green new deal. i want them to make that a big part of their platform. no more airplanes, no more cows. stuart: it's very entertaining, isn't it? laura cox is with us, chair of the michigan republican party. laura, the president's net approval rating is down 15 points in your state since he was elected, according to real clear politics. that's not good, is it? >> well, you know what, president trump is always underperformed in polls and the polls are focused o as he talks about people and pushing the democrats and the media have

been pushing the collusion delusion and now people will be able to focus on his track record of accomplishments. i think when people learn about what he's done and how it's affected their families and their businesses, in our state especially, we are really excited and we think that people are going to come out and vote for our president again in 2020. stuart: let me draw your attention to something he said last night. i'm not sure how well this would go down. he referred to adam schiff, chair of the house intelligence committee, i know you are smiling here, the president referred to him, picked on him and said little pencil neck. does that go down well? i know you're smiling, it's entertaining, but does it go down with michigan voters well? >> i think, you know, listen, people like the president, they voted for the president because he says what he thinks. you know what, it was a political rally so he was having a little bit of fun. but the bottom line is that investigation was mishandled and we need to look at it and the republicans are really pushing to make sure that they look at how this started and how this was perpetuated, and we wasted

$25 million of the taxpayers' dollars as well as they took over two years investigating something that came up with nothing. so we want to talk about his accomplishments, his track record and how it's affected michigan. we think he will be successful in michigan. stuart: let me check something, laura. i think that that grand rapids venue from last night was also the last campaign speech that he made right before the election in 2016. same place, right? >> yes. absolutely same place. in the wee hours of election day, he spent rallying the troops in michigan and we delivered in 2016 and we believe we will be able to deliver in 2020. we are really excited and the arena was packed last night. it was electrifying. there were people outside watching from outside, thousands of folks. we know that michigan is energized and ready to re-elect our president. stuart: laura cox, you had a great night. thanks for being with us this morning. we appreciate it. thank you. >> thank you very much.

stuart: sure thing. now this. comedian michael loftus performs in the deplorables comedy tour. they claim to be the number one conservative comedy tour in america. they have a show tonight in portland, oregon and have been warned don't show up. protesters, including antifa people, may be there. he is with us on the show today. first, though, look at this. a guitarist from the band u2 wants to build five homes on his property in malibu, california. that's a 122-acre property. but the greeners have halted the project. how about that? michael avenatti is now being accused of dodging taxes all while living a lavish lifestyle. there's a story for you. we're on it. -driverless cars... -all ground personnel...

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stuart: a gain of triple digits, up 117 points. we are still waiting for lyft. we have an indication that the first price that it opens at will be $85 to $87 per share. now, that would, if that's the case, that would be a nice pop from the $72 offering price, you could call it. that would be a nice pop. $85, $87. ashley: 20%. stuart: yeah. >> the company would raise -- stuart: $96 they are closing in on. they are closing in on it. we are pretty close. any moment now, we expect that first trade. when it happens, you will see it.

bad news, more of it, for lawyer michael avenatti. under investigation by irs, he's reportedly dodged taxes for decades and living a luxurious lifestyle. ashley: living the lifestyle we would all love. according to federal prosecutors, since 2010, he hasn't filed any personal income tax returns, even though about $18 million came into his bank account. same story on his law firm, avenatti and associates. the feds say look, he recorded $38 million in deposits, also has not filed any tax returns. he has a huge tax bill. while that was going on, he lived in a $100,000 a month rent in a luxury waterfront house in newport beach. also they claim $123,000 a month in rent on a luxury highrise in century city. he was living the high life. you can do that when you don't pay taxes. at least that's what the feds claim. stuart: enjoy it while it lasts. all right.

u2's guitarist, edge, cannot build his $100 million malibu dream home complex because the environmentalists are bent out of shape. what's the problem? >> so the environmentalists are suing him saying he would destroy the pristine mountainside in california. it is a $100 million property, 150 acres. he's already agreed to a lot of concessions. he said okay, fine, i'll build this complex, five homes, in earth tones, i won't have reflective glass. he's already been trying to modify his plans. but this is going to go all the way to the california supreme cou court, going all the way up. it's been 14 years that he has been trying to do this. stuart: 14 years? >> yes. yes. stuart: he still hasn't found what he's looking for. >> oh, my gosh. i knew it was coming. stuart: whatever. new quinnipiac poll has joe biden ten points clear in the democrat pack of those who may be running for the presidency. he's ten points clear of bernie

sanders and more points than that clear of beto o'rourke. steve hilton on joe biden, coming up shortly. also we will talk about what just happened in britain. look at this. thousands have gathered outside parliament following the latest no vote on brexit. i'm going to call that absolute political chaos. you'll see more of it. you wouldn't accept an incomplete job from any one else. why accept it from your allergy pills?

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stuart: all right. let's update the markets. we are up 120 points for the dow industrials. we have been there much of the day. slight blip down for the no brexit vote but we are back up again, half a percentage point higher. yes, we are still waiting for the first trade at the first price of lyft. we have been narrowing it down. they've got all the orders coming in. they are trying to narrow down to the first price. looks like it will be around, around $86 a share. that is not firm. that's just an indication. it may be higher, may be slightly lower, but $86 is roughly where it's expected to be. let's leave money alone for a second. let's get back on politics, shall we? joe biden has not announced yet, but he's leading the pack in the

polls. that doesn't mean our next guest can't take him to task. our good friend steve hilton tweeted this yesterday. quoting biden. i'm too white, too old, too male, too establishment to be elected. what a total joke this man is. i'm so looking forward to bringing you out. swamp watch on joe biden. stay tuned. next revolution soon. run, joe, run. i think you told the story. steve hilton is with us, host of the next revolution. all right. you don't care much for mr. biden, do you? >> i don't. as you can tell. but i tell you why. there's so many reasons we won't have time to get into them all but let's just start with his own lack of confidence in his own abilities. that story the other week that he and his team were fishing around for the possibility of

announcing his run with a pre-announced vice presidential pick alongside him, specifically they talked about stacy abrams, who came close to winning the governor's race in georgia because in the identity politics infested world of the democratic party these days, she brings what he clearly lacks which is the fact she is not an old white male, so they want someone to try and counter what they clearly perceive to be a negative. but the serious reason i think why he's actually going to be a very weak candidate in the end is first of all, he's such an establishment figure. in 2016, people voted for change from the establishment. they wanted to upend the ruling elite that have been in power for so long. no one actually personifies that more than joe biden. he's done nothing but politics for 40 years. secondly, he's deeply, deeply corrupt. that's what i was referring to in our swamp watch segment that we were working on with biden.

when you look into his dodgy dealings over the years, people are going to really see that this guy should be let nowhere near the oval office. stuart: you have seen that quinnipiac poll, i'm sure. joe biden is ten points clear of bernie sanders and let's see, about 17 points clear, roughly, of beto o'rourke. so he's actually, joe biden is actually gaining ground here. he's breaking out of the pack. >> yeah. look, he's been out there, he's very well-known. there is an affection for him within the democratic party. people think of him as having been a loyal vice president to barack obama who they absolutely love, and you are seeing that reflected there, but he hasn't been tested, he hasn't been scrutinized, he hasn't been out there, certainly hasn't faced a debate. i just think he's going to be a very weak candidate in the end. stuart: i hate to flog a dead horse, but i'm going to ask you about brexit. another no vote. it seems to me that now prime minister may has to go back to europe, cap in hand, asking for

a longer time frame. i think this is a catastrophe.m brits. >> yes, it is humiliation and it is so offensive to all those people, the majority who voted to take back control. they voted against the ruling establishment and the ruling establishment have overruled them. they have actually overturned the result of the brexit referendum. they were trying to do that here with president trump and he prevailed. we saw that just last week with the mueller report. he and the people got their disruptor and put him in the oval office. in the uk, the establishment won because basically, my interpretation of what happened today is that brexit is slowly dying. i don't see that it's going to happen. that is a total outrage and affront to democracy. stuart: what i think is going to happen, i think it may be just crash out. the europeans simply say all right, go, just go, and if that

did happen, i think it's a golden opportunity for america to step in, president trump, he's going on a state visit to britain in may, step in and offer a great trade deal. what's wrong with that? >> well, that would be a fantastic outcome. i have said all along, that's the real brexit. that is the true brexit, where britain is an independent sovereign nation, which is what people voted for. so if that can happen, i would be cheering it to the rafters along with you. but i don't know. i'm not optimistic of that. but let's hope. that is the best outcome we could hope for at this stage, for sure. stuart: ladies and gentlemen, if you want more of this, join steve on the next revolution at 9:00 p.m. eastern time sunday nights on the fox news channel. a fine program. it has to be. that's why he's on this program today. mr. hilton, thank you very much, sir. see you soon. president trump flew back to mar-a-lago last night after his fiery michigan rally. he will be traveling to florida later this afternoon meeting with local officials about environmental issues and infrastructure. joining us, allison barber.

she's on the ground in west palm beach, florida. what's this, he's going to see an infrastructure project, isn't he? >> yeah, that's right. the big focus for this trip, we are told by white house officials, is the herbert hoover dike. the president is expected to tour projects on the lake and around it, and this is the big focus here. it's 143 miles long, it surrounds lake okeechobee and is said to be the heart of the everglades system. it's supposed to reduce the impacts of flooding for a big portion of south florida. a source on capitol hill tells blake burman they are expecting to focus his trip in part on funding that was obtained last year to fix the dike. it's a high priority for florida lawmakers. repairs would reportedly allow the lake to hold more water and reduce leaks which is important not just for the obvious thing, say a big flood, but also for environmental reasons. residents blame polluted lake

water for outbreaks of toxic algae blooms. florida senators marco rubio and rick scott asked the administration to give them $200 million a year to work on these repairs. the administration went way under that in the federal budget, only calling for $63 million. stuart: allison barber near where the president is going to land later on, thank you very much indeed. stock alert. now we are up 140 points, better than half a percentage point. yes, of course we are waiting for lyft. i keep saying it but this is a very, very important ipo. $85-90. wait a second, that's not the first trade, is it? there's an indication here that the first price on the first trade will be around $85.90 per share. that's an indication, that's pretty precise. they're not quite there yet. they are balancing the orders that are coming in. trying to assess the level of demand. $85.90 looks to be very roughly where we are, which is, what,

20%? ashley: i would say 20%. $86 would be 20% on $72. >> they will raise about $2.7 billion even if it just goes at 72. it seems like obviously, indicated to open higher. one of my funny twitter followers said waiting for this ipo is a lot like waiting for the lyft car. five minutes, seven minutes, 12 minutes. a little rough for friday morning. stuart: as they say in the commercial, any moment now. that's a promise. there's a real excitement about this. very new kind of company going to the market. you can buy shares if that's what you want. this is a very, very big deal. the excitement on wall street is valid. we share it. ashley: oh, yeah. stuart: pretty soon we will talk to conservative comedian michael loftus. his comedy tour, the deplorables, received threats not to come. don't come to the pacific northwest, where they've got a show scheduled. he's on the show today. first, we are talking to former wisconsin governor scott walker. is president trump's midwest

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stuart: it looks like it will be a pop at the open for the share price of lyft. we are getting an indication now

of $86.50, getting closer and closer to the actual first trade, the actual first price. because we've got -- that would be a 19% pop. ashley: almost 20%. stuart: because of that, the market is up a bit more. i think it helps the overall. >> $21 billion valuation. that's a pretty solid company. of course, just a little caveat, lots of sales, not yet profitability. so for longer term investors, just something to note. ashley: lost $900 million last year. stuart: we are basing on $86.86, the latest indication. that's roughly 20% from that $72 price that they go out at. $86.86 is where we are.

stuart: to repeat, lyft looks like, there's an indication of $86.86 per share. $86.90, i'm now told. okay. i get things in my ear. $86.90. that would be a 20% pop from the $72 per share it went out at. that's a nice healthy pop for this particular company. i think that's helping the overall market a little bit. you have all this excitement, all this money coming into the market, and the dow is now up 151 points. almost .6%. solid gain right there. we are very close to that first trade. wait for it. it's coming.

ashley: i believe you. >> it's lyft, then it will be uber. there's a lot of enthusiasm. stuart: this is very exciting. there are all kinds of these gig technology companies coming into the market this year. ashley: does this pick up from where the big tech stocks were a number of years ago when they went to market, facebook? now we have this different type of company to invest in. stuart: president trump, michigan last night, i call it a fiery campaign rally. he was in ohio last week, going through the midwest. scott walker, former governor of wisconsin, is with us now. governor, it's great to see you again after this time. good to see you, sir. do you think -- >> good to be with you. stuart: do you think the president will win the midwest in 2020, convincingly so? >> i think all it takes is one more than whoever the ultimate democrat nominee is, and i think the reason he's in michigan, ohio, he's been in wisconsin frequently and iowa, is because he understands how important this region is to the nation's

economy and how important it's going to be in next year's election. stuart: i can't imagine that the green new deal will be popular in manufacturing country. am i right? >> well, not only that, but the so-called green new deal is not only bad for manufacturing, remember in the talking points, aoc and others put out, they talked about getting rid of airplanes over the next decade and farting cows. in a state heavily dependent on not only manufacturing but it's actually called america's dairy land, i think there's a little bit of a challenge when it comes to that issue. you look at all the major candidates are embracing that far, far left reach for socialism. which is exactly why i have been talking about we don't need a 5g network that's nationalized either because the contrast come next year is going to be between someone the democrat nominee who is on the far, far end who is embracing policies like we see failing in venezuela versus a president and a party that's really been embracing policies

that have worked because it's based on american innovation. stuart: you mentioned 5g. is that the next big thing? is that absolutely crucial for the world's computing in the decade to come, is it? >> it is. i just heard you talk about lyft and uber. i've got my two, my phone charged up, i use it a lot when i travel out there. certainly 4g is important, when we look ahead 5g is the next big thing and beyond. we just want to make sure that for all the talk in washington, for all the talk in technology, that washington doesn't decide that that should be nationalized. stuart: there's never any question of the american government owning 5g and running it, was there? >> well, i think there has been a fair amount of talk about this idea about at least doing a sole source, having the federal government take control of it, nationalizing it in the sense of saying we will go with one source. in contrast, we have seen 4g already has succeeded because

you have a vibrant marketplace, you have people competing to see who can be first, who can go the furthest out there. that's certainly true when it comes to 5g. we can do that if we have a robust marketplace. the answer is not to go down the path that we see not only in places like venezuela but even in china itself. there are legitimate security risks that we've got to deal with as we develop this technology to make sure that people from other countries aren't tapping into it, but the answer's not to nationalize the system. it's rather to embrace the free market. stuart: yes, sir. governor, you look like you are having a good time. it's great to have you back on the show. hope you're enjoying life post-governorship. governor scott walker. thanks for joining us. see you again soon. i'm going to -- i see an indication on lyft of about $87 per share. we haven't had the first trade and we don't know the first price yet. but we are very, very close. what they are doing now is trying to weigh the orders here and the orders there, put them all together, buyers and sellers, what have we got. looks like $87 a share.

>> if it comes in that 20% premium that's actually almost the perfect sort of sweet spot, because you want to have a pop on your first day, you want all the good press, you want the good buzz, but you don't want to feel there was so much money left on the table and it was mispriced. i feel like 20% if it opens at that, the bankers have done their job. stuart: and the market will like it. the dow is up 150. okay. we are waiting for lyft, yes, but we are going to talk to a comedian, michael loftus is performing tonight in portland, oregon, despite being warned not to come. >> doing great, small business optimism, gdp's up, and the democrats are like we need to stop this. stuart: okay. that's a taste of things to come. ambassador john bolton will join us shortly on his warning to russia and venezuela. jam-packed show.

stuart: all right. we are moments away from the first trade where we will know the price. the latest indication is $87.10, $87.20, which would be a 20% gain from the $72 offering price. $87.24 is what i'm hearing now. $87.24. it's trading? we started. away we go. $87.24.

we're off and running. there you go. $87.26, first trade in. that's up 21% from the $72 that it went out at. ashley: 21%. stuart: $87.64 is where we are at this moment. the volume, 7.4 million shares just like that. mark that. the overall market is being helped. lyft gets its 22% pop. all is fine and dandy. lots of excitement on this. i have no clue how this stock closes out the day but i can tell you that there's a very nice pop right there, right from the get-go. lyft has opened. now it's $87.36. ashley: we have liftoff. stuart: ray wong is with us, our technology watcher. quickly, this is a nice pop at the open. where do you see this thing going? >> it's a wonderful pop. i think it's going to be around the high 90s. it's a digital duopoly and that's part of the reason for the appeal. this is the bellwether ipo for

the valley because we have a ton of ipos coming out over the next six months. stuart: a very positive thing for future ipos? >> i think so. they do well today, it's going to set the tone, especially for uber which lyft is going to be the comp. more importantly, it will be slack and zoom when these guys come out, airbnb as well. they have to set the tone. stuart: thank you very much for joining us. i know it's very short, but that was very important. first trade in lyft. we now have it at $86.74. got it. this is coming at us, too. this is very important stuff. the president tweeting about the border crisis. here is this tweet. the democrats have given us the weakest immigration laws anywhere in the world. mexico has the strongest and they make more than $100 billion a year on the u.s. therefore, congress must change our weak immigration laws now and mexico must stop illegals from going through their country and our southern border. mexico has for many years made a fortune off of us, far greater

than border costs. here's the important thing. if mexico doesn't immediately stop all illegal immigration coming into the united states, through our southern border, i will be closing the border or large sections of the border, next week. this would be so easy for mexico to do but they just take our money and talk, talk, talk. you get the gist here. essentially president trump is saying he's closing the border next week, or big parts of it, if the mexicans do not stop these illegals coming into our country through mexico. ashley: big development. stuart: that is a very big development. no effect on the overall stock market. still up 140 points. i want to bring in ambassador john bolton. he's with us now. national security adviser. you just released a statement on venezuela. strong words for the russians. you are giving them another warning? >> well, i think president trump gave them a very clear warning on wednesday, when he said they had to get out of venezuela. you know, this russian military

presence along with what are probably earlier indications of russian military presence and a huge presence of cuban security forces really leads to the question, who's running venezuela. the maduro regime is bad enough but if we've got cubans and russians as many believe basically calling the shots, i think it's one more reason why we need to get a peaceful transfer of power to interim president juan guaido. that's what the president was saying on wednesday when he met with the first lady of venezuela, guaido's wife, and it's a point we wanted to make clear today as well. stuart: sir, the president just tweeted that if the mexican government doesn't stop the through traffic of illegals coming into america, he will close the border next week or large parts of it. your response to that, sir. >> well, i would listen to the president. that's always the safe thing to do. it's a pretty clear statement, i think. stuart: it's pretty strong, isn't it? >> well, that reflects the strength of his views on that subject. that's for sure. stuart: the repercussions of

closing the border, large parts of it, would be significant, wouldn't they? >> that's right. i think it reflects his position very strongly on the immigration question. stuart: you don't want to go near this, do you, sir? >> i don't know. the president's made his view clear. that's clear. stuart: okay. back to the russians. how strong a warning have you issued to them? i mean, is there something under the surface going on here that we might want to know about? >> well, i think the president's reaction when he was in the oval office with fabiana rosales, juan guaido's wife, was about as strong as you can get. it really was significant. the people of venezuela overwhelmingly reject the maduro regime. if the idea is russian military forces are entering the western hemisphere to protect maduro, to keep him in power, that's just not something we accept. remember, one of the reasons for the monroe doctrine to begin with was to prevent the

recolonization of the western hemisphere by european powers. i think russia should heed that historical lesson. stuart: i know we don't have much time, sir, but last time you were on the program, you hinted that stuff was going on inside venezuela. you couldn't tell us much about it. you want to repeat that? >> there's a lot going on behind the scenes. i can tell you i think maduro's position is weakening. i think the position of the regime as a whole is weakening. the overwhelming majority of venezuelan people are sticking with juan guaido. they are demonstrating real courage. his chief of staff was arrested, his wife was also in the office, chief of staff's wife, on wednesday, i'm told of a horrific attack on their house by maduro's security forces. it's just unacceptable. we can end the suffering in venezuela sooner if maduro would go. stuart: do you realize, mr. bolton, you have just been upstaged by the first trade in lyft, the ride sharing service? i'm afraid i have to go to that.

mr. bolton, sir, it was a pleasure having you on. please come again soon, okay? >> any time. thank you, stuart. stuart: thank you very much, sir. let's get to lyft. where are we now? the price of lyft is $86.48. 15.9 million shares traded. really, really quickly. that would be up 20% from the first -- the offer price. $72 a share. it's up 14 bucks at $86.35. lots of excitement around this. ashley: $30 billion valuation. stuart: that's what the valuation is put on that. $30 billion. we thought it would be about $24 billion, $25 billion. you've got $30 billion out of it. >> it presages what may come from uber later this year, from pinterest, you are talking about the next generation of tech companies investors can go to. one of the -- stuart: sets a very positive stage for the ipos that come up later in the year. $86.29 on lyft as we speak. now then, i've got to say thank heavens it's friday. it's been a whirlwind week for

us here. we have had a wonderful time. the president has enjoyed himself and the markets have gone up, too. let's wind the show down with a bit of humor. michael loftus is with us. he's currently on the deplorables tour. that's a collective of conservative comics. i didn't realize there were such things. there's one of them. michael loftus is with us. michael, you are playing, you are supposed to play in portland, oregon tonight but you've gotten some pushback, some threats, have you? >> yeah, online, we have received a couple warnings that we're not welcome in portland, that we should take our message of hate and stay away, and what are you going to do? we got to tell jokes. if we can't make fun of the liberals, what are we as a country? we're nothing. we're venezuela. stuart: make me laugh about the green new deal. can you do it? >> well, here's the thing. she says the world is going to end in like 12 years. if we work really hard, get rid

of cows and airplanes and rebuild every single structure in america, we'll have two good years of life. that will take 10 years. so listen, i say we roll the dice. we have 12 solid rolling good times. stuart: how is the show going? i know it is a tour. you go around the country. how is it boeing? do you sellout? >> we have had amazing response. i'm not kidding. nashville, tennessee, dubuque, they're coming up to the show, thank you for doing this. it is only place you can go. republicans have been locked out of cinema. we've been locked out of television. you look at the late-night landscape, only one message, democrats are good, republicans are evil. by taking our message out to the people, they're so thankful we did it. it is fun. come on, nancy pelosi and her head and crazy i don't know how to clap anymore. that's funny stuff.

>> i'm laughing. can you give me one more? i have 30 seconds, make me laugh one more time about anything? >> i think it is ironic that the british people are mad that they're having taxation without representation. i say we make england state 51. come on! ashley: why not? >> join the winning team. stuart: i have a british accent but i am an american citizen i have you know. i vote, young man. >> i love that about you. no one is more patriotic than someone from somewhere else. stuart: like a reformed smoker. nobody is more zealous, anti-tobacco than -- >> they will beat you up. they will beat you up. stuart: they will. mr. loftus, wish you very well with your performance tonight. thank you very much for being on the show today. thank you, sir. >> thanks for having me. let's get back to lyft. stuart: yes, got to do it. >> that is the excitement! that is the excitement! stuart: makes me laugh.

86.40 is the latest price we've got for you. that is exactly 20% higher than the $72 per share it went out at. this reminds me, today reminds me of the day that facebook went out. >> nation book was what not to do, right? that was botched from start to finish. i'm actually happy for the lyft founders and their bankers who were sweating. stuart: that is interesting. it has been open now, trading for what, 15, 20 minutes? something like that. ashley: yeah. stuart: the the price is relatiy stable. 85, 86, $87 a share. i would have expected more volatility, when you have 20% pop from the get-go you expect, saying i'm out of here. >> took their time. honestly i don't think anyone of parties want ad facebook. my guess they took their time. stuart: get it right. >> nice with money coming into the market. stuart: a lot of people made a great deal of money.

general motors made a close to billion dollars. their initial stake was 500 million. that stake is worth -- they have made a billion dollars. ashley: fabulous. stuart: i'm getting confused. i need neil cavuto to straighten me out. neil? neil: a lot of people are getting rich. remember, this ipo was originally priced at $72 a share. go back a couple weeks ago, it was 62 to 68 range. go back couple months ago it was supposed to be in the high 40s range. this company has valuation north of $30 billion. we're not done yet. uber is looking at this very closely as well. wondering by the grace of god could go we? that company could look at 100 billion-dollar valuation. so much to consider here as we crunch