finances even when going on a first date. that just says love all around. maria: not a very romantic question. so how much do you make? cheryl: yeah, exactly. maria: have a great day, everybody. thank you, guys. have a great day. right to stuart varney we go. take it away, stu. stuart: it's never enough. never enough. good morning, maria. good morning, everyone. let there be no doubt, there is a crisis on the border. here's my opinion. it's the democrats' fault. i think they are going to pay a heavy price. another caravan has set out from guatemala, 1100 strong. they are on buses heading our way fast. facilities at the border are overwhelmed, illegals by the thousands are being released on to the streets of our southern cities. 103,000 in march alone. huge delays now, both sides of the border. the president says more troops are needed. the democrats have invited them in. sanctuary cities and open bored policy and the abolition of

immigration enforcement have created this crisis. let there be no doubt, william barr's assertion that there was spying on the trump presidential campaign has confounded the democrats and the media. instead of mueller and russia, russia, russia, it's now the fbi, the doj and what the president calls an attempted coup. uproar. speaker pelosi says the attorney general has gone off the rails. network news anchors call it part of the white house coverup and a conspiracy theory. pathetic. let there be no doubt, part three. amazon employs 7,000 people to listen to what you say to alexa. the team analyzes and records your input and use it to improve the voice assistant's performance. this is sure to raise eyebrows. do you want anyone listening to what you say in your own home? and exactly how much of what you say is being listened to? what a show.

"varney & company" is about to begin. stuart: wikileaks cofounder julian assange has been arrested in london. what's going on? susan: it could get worse for him. the department of justice, according to reports, according to fox reports, is soon to announce charges against julian assange. as you see, he was forcibly dragged from the ecuadorian embassy in london earlier today, where he's resided since 2012 on asylum. he was wanted in the uk for skipping bail on sexual assault charges in sweden which have since been dropped. he's being held in central london right now and being held on bail, speaking to his lawyers. as you know, julian assange, founder of wikileaks, has been highly sought after, especially for the 2016 elections, his involvement with the russia investigation, the leaks of dnc

e-mails, amongst other classified documents from the u.s. government and also video as well. it looks like he might be extradited to the u.s. stuart: pretty soon the u.s. will announce charges against him. susan: very soon. yeah. stuart: susan, thank you very much. attorney general barr suggesting that the trump campaign was spied on. the democrats are outraged. here's speaker pelosi. >> let me just say how very, very dismaying and disappointing that the chief law enforcement officer of our country is going off the rails. i don't trust barr. i trust mueller. stuart: okay. joining us, former white house and doj attorney. hasn't this turned the tables? it was russia, russia, russia. now it seems to me it's doj, fbi and an attempted coup. >> well, look, absolutely. i think bill barr has raised significant concerns. he's a very well-respected

attorney general. he's had bipartisan support for a long time. this idea now that we're not going to trust bill barr is really concerning. that being said, we should be clear about what barr said. barr said he was concerned about what has taken place. he doesn't know there was illegal spying. he's going to look into it. the real issue here is how do these things happen, how do these orders get obtained. we all know there's nothing new in the news that carter page, for example, a member of the campaign, was surveilled. we have known that for the better part of two years. no real news there. what is new news, bill barr is krnd, concerned, is looking into it. stuart: isn't there an inspector general's report coming out soon on what the doj and fbi was up to as well as any probe that mr. barr might get into? >> that's exactly right. the independent inspector general inside the justice department is looking at this question at the request of the prior attorney general to see if there were any concerns about what happened, about how the fisa application was filed, the information contained in it. we know there is information

from the so-called dossier. we also know there was a lot of information about carter page that was probably plenty to suggest he should be surveilled and that surveillance was appropriate. we will see what the ig says. that will inform what the attorney general does and what his investigation leads to also. stuart: here's another area where i think the political tide may have turned. there's this new migrant caravan forming in honduras, 1100 strong, i believe. it's heading right here. let me show you what president trump said about using the military. roll tape, please. >> i'm going to have to call up more military but our mill taesh -- military can't act like a military would act. if they got a little rough, everybody go crazy. our military can't act like they would normally act or like let's say another military from another country would act. then we have all these horrible laws that the democrats will not change, they won't change them. stuart: it seems that the president just not backing off. this was a fundamental plank in

his campaign two, three years ago. he's taking a hard line, isn't he? >> look, the thing about donald trump more than any other president in modern history, he certainly made campaign promises regardless of what you thought about them and certainly tried to keep them. stuart: and he will keep them, won't he? at the end of the day i think he gets this done. i think he closes that border. >> he said he will build a wall. we have yet to see what happens with that. he has moved funding around. he's gone around congress. that has caused all kinds of consternation among democrats and republicans on capitol hill. we will see what happens. look, the real thing about the military at the border is they have been -- we send the military to the border a lot of times, under democrat and republican presidents. the question is what are they authorized to do. i'm not sure anybody including donald trump really wants the military carrying guns to the border in a way that might be problematic. we saw that happen in venezuela with a regime we despise and rightly so. we should not be in the business of shooting migrants at the border. stuart: thanks for joining us, sir. we appreciate it. thank you very much.

let's get to money. how are we looking for the market opening this morning? we are going to be up about 30 points for the dow. not a huge gain. modest gain, fractional gain for the nasdaq. look, you better take a look at lyft. that stock i believe was down a total of 11% yesterday. it's bounced back not much this morning, 48 cents higher, $60 a share for lyft. remember, it went public a couple weeks ago at $72. market watcher gary kaltbaum with us now. gary, that's a big drop for lyft in a couple of weeks. is that a bad sign for uber which is probably going public later this year? >> i would suggest yes, and the bottom line is they -- when they opened the stock up, it was actually at $88. so big losses for the after-market people. we are already seeing the price of uber come down, also people who bought it in certain rounds of funding are actually underwater.

the same goes for pinterest which is coming out in the next week, where people paid a certain amount expecting a big windfall and they are going to end up down on the open. so not a good sign, not a good thing. you know, jpmorgan, the main underwriter of lyft, one of their jobs is to stabilize the underwriting and price it correctly. obviously not a job well done. it's going to affect other ipos. by the way, there's a ton of them coming out, all lose a ton of money and that's going to be over the next few months. that will be watched closely. stuart: now look at this. amazon, they have got 7,000 employees reportedly listening to your requests on the echo device. i have got to say, this really puts me right off. i don't want anybody listening to anything that i say in my house. what about you? >> not surprised. look, apple, google, the rest of them, for them to sit there and tell you oh, we're doing it for the customer experience, no. this is about pure business.

if they cared about the customer experience and our privacy, they can test it on their own employees. no, let's put it out there and just say everything's okay. the problem is, there may be disclaimers but they are probably this small, superman's eyesight couldn't read it and it's pretty much hidden. just realize, this is the shape of things to come. they are watching us, they are stalking us. i have been complaining to you about facebook for a very long time about that. it's going to continue going forward. as long as people keep buying the stuff. stuart: you and i agree on this. i don't like big brother. don't think it affects the stock but i don't like it. i think you are the same. >> i don't like it at all. you know what? my children bought my wife and i an alexa. we never turn it on. we just think they are watching us, hearing us and now we are getting the evidence of it, unfortunately. but don't worry, it's just for the customer experience. stuart: sarcasm is a low form of wit but actually works this time. gary, thank you very much, sir. see you again soon.

tesla and panasonic are putting the expansion of the giga factory in shanghai and also in nevada on hold. look at the stock, down another eight bucks. tell me more. susan: there isn't enough demand right now for tesla cars. that's why they are freezing expansion of the $4.5 billion giga factories that make batteries for tesla vehicles, also $5 billion investment in shanghai. because deliveries didn't meet standards in the first quarter, they only delivered around 60,000 or so, 63,000 first three months of this year, that's a drop from the final three months of last year, 2018, where they delivered 90,000, so there isn't enough demand right now for tesla cars. having said that, we did see the stock bounce this week because there might be an extension of the green credit on those electric cars by a bipartisan u.s. senate bill and if that does happen, you can imagine that with americans getting more money back to buy tesla cars, that sales figure might go up. stuart: that's down the road. today the stock is down eight

bucks. big tech, very much in the crosshairs of congress. senator ted cruz threatening to regulate facebook, twitter and google over charges of anti-conservative bias. we got that story. the patriotic millionaires hosting a tax the rich conference this week. i say they are a bunch of hypocrites trying to lead the country into socialism. congressman kevin brady agrees with me. look what he tweeted after seeing my editorial. here it is. you really ought to watch this articulate and passionate truth telling about taxing the rich from someone who has lived socialism. that's me. wonderful. congressman brady is next. i will ask him, let's suppose we did tax the rich at a 70% rate. supposing we did take their wealth. would that bring enough money to pay for those social programs? i don't think so. we'll ask him. "varney & company" just getting started. i'm working to keep the fire going

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stuart: this conference is just socialist propaganda. patriotic millionaires?

i don't think so. besides, if you think you should pay more in tax, you can. just write a check to the united states treasury and please put in the memo space, i'm guilty of success. okay. that was yesterday. we were talking about the patriotic millionaires and their tax the rich conference. they are the people who have already made their fortune but don't want you to make yours. congressman kevin brady heard what i had to say and he liked it. he joins us now. say it again, congressman. you liked it, right? >> i didn't just like it, i loved it. it was epic. look, you hit every point here. look, here's a group, you got to admit, they're not coming together to find a cure for cancer, a solution for immigration, how we tackle -- they are coming together to pull down our ideas and how do we confiscate more from those who have worked decades, who risked their dollars, who succeed and

create jobs and opportunity along the way, how do we take more from them so it is -- your take was exactly on target. stuart: would you just hold on for a second? i will digress for just a few seconds here. the patriotic millionaires actually did respond to my editorial. yeah, they did. erica payne, their organizer, put my editorial on their website. she's the one who created the obamacare video which showed granny being pushed off a cliff. she used a paul ryan lookalike to imply that republicans kill seniors. i have a lot more on this, what i call this hypocrisy at the top of the 11:00 hour. back to mr. brady. president trump is getting a lot of flack for not releasing his tax returns. you are an ranking member of the tax writing committee. does he have a legal obligation to release those tax returns? >> no, he does not. it is an illegitimate request. can i make one point on the

previous issue? you talked about the woman who created the ad. the fact of the matter is, income inequality has grown worse over time but it grew faster and worse under obama than bush, it grew faster, unfortunately under clinton than reagan. but this year, because of the tax cuts and a roaring economy, there is a chance we'll see, there's a chance that under president trump, income inequality may shrink for the first time in half a century. so their solution actually hurts the very people they claim they are trying to help. but back to the trump tax returns. no. this is politically motivated. it's unprecedented. congress has never, ever tried to seize the tax records of an individual for purely political purposes and in fact, the law they're using protects you and me and your viewers from congress doing exactly this thing. this sort of thing. i think the white house is

actually or clearly on the right target and they have the law behind them. stuart: real fast question, sir. i know you know the answer. let's suppose there was a wealth tax imposed, 2% or whatever it is over $10 million. let's suppose we went to a 70% tax rate on incomes. would that bring in enough money to pay for all the social programs which the democrats now propose? >> it wouldn't even begin to scratch the surface. as if that money would be used appropriately out of washington anyway, but no, it's a drop in the bucket. the truth of the matter is, americans are smart. they will adjust how they earn, they will work less, they will risk less, they will create less jobs, all because of it. so no, it will hurt those types of wealth tax increases actually hurt the people that they are trying to help. stuart: congressman, we will be remiss if we fail to note your 39th birthday all over again. happy birthday, sir. >> thank you, stu.

susan: yay! stuart: good man. thank you, appreciate it. let's get to the money issue, shall we? enough with the balloons. let's have a look at your money. where are we going this morning. it's thursday. the market will open with about a 30-point gain, fractional gain for the nasdaq. now, the midwest, challenged with an april snowstorm. some places could see a foot of snow. janice dean will tell us how bad it is. she's coming up next. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )

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stuart: julian assange arrested this morning. we have an update on the charges. susan: that's right. it's official, the department of justice is charging julian assange with one count of conspiracy to hack a computer which goes back to his role in the 2010 release of lots of secret american documents, according to this criminal complaint. it goes back to chelsea manning and the password she gave to wikileaks and julian assange to get into u.s. defense and government computers. but it is just one single charge. conspiracy to commit computer intrusion. it's not espionage which is much more serious and also alleviates, some would say, the press freedom advocates. stuart: got it.

the midwest bracing for a mid-april blizzard. janice dean is here with us now. come on, tell us how bad it's going to be. >> well, it's happening right now and it is bad across portions of south dakota and nebraska and minnesota. six states under blizzard warnings right now. the winds in excess of 35 miles per hour so 40 miles per hour in des moines. doesn't take a lot of snow to cause blizzard conditions but in some cases, two feet of snow, so blizzard warnings in effect where we see shaded in red, then winter storm warnings in the pink-shaded areas. you can see there's the pink there. we could see the potential for an ice storm around the minneapolis area. still going to see that snow and blowing snow throughout the day today into tonight, then the storm moves north and eastward. the temperatures remain cold, though, over the next several days so the snow is going to stick around, unfortunately, then on the warm side of this, we have the potential for severe weather including large hail, damaging winds, isolated tornadoes. big storm to talk about and a wide swath that are going to

experience it. stuart: well, we informed our viewers, did we not. they may not like the forecast but we informed them. janice, thank you very much. >> any time. stuart: check the markets. we open up in, what, four and a half minutes. we will be up 20 points for the dow, fractional gain for the nasdaq. we're not going far, inching higher, maybe. back in a moment. so, jardiance asks... when it comes to type 2 diabetes, are you thinking about your heart?

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stuart: happening now, acting defense secretary patrick shanahan getting ready to testify before the senate armed services committee. this is about the space force. earlier this week, shanahan said war is coming to space and china will be our likely adversary. any headlines, you'll hear them pronto, as i like to say. next case, to china. china trade talks. china has sweetened its offer on cloud computing. do we know any more? susan: that's why we might get a deal in four weeks, according to the "wall street journal." they are sweetening the offer to allow more access for cloud operators like apple, oracle and the like. in china you have to form a joint venture to get in. according to the details here, you might even be able to own your own company and access the cloud market in china. it would be huge. stuart: interestingly, that headline, positive on china trade, did not move the market.

the premarket showing just 30 points for the dow industrials. susan: we are heading into earnings season. that's the focus right now. stuart: you're right. seven seconds to go. seven seconds, four seconds, here we go. it's thursday morning. let's see, now. we are going to open up now and we are opening to the -- oh, we are up 24 points, up 28. the opening trend is up, not strong, but we're up 30, 39, 40 odd points. there we go. 25,200 or thereabouts on the dow. a fractional gain. how about the s&p? same story. a fractional gain. how about the nasdaq? i think that's the same story. a fractional gain. everybody up about the same amount in percentage terms. that's how we start thursday morning. michelle mckinnon is here, scott martin is here, susan li is here and we will start with lyft. that stock took a big hit yesterday. it was down 11% so michelle, first to you, is this an ipo disaster? >> i mean, it could be.

i think first and foremost it's probably too early to tell. i always tell my investors at least wait a couple weeks, if you're really hungry to buy in. then at least wait a full year if you are thinking it's a long-term play. i will say this, stuart. it could be a blue apron where you saw that stock price go from $9 to $1 and it has not been able to recover. a lot of that revolved around profitability. can lyft be profitable. stuart: because they are losing $900 million. susan: it also gives uber pause because when you are going an evaluation that's 40% higher than you did in the private rounds, that's called greed. i think uber is taking a look at that and saying okay, $90 billion to $100 billion is probably more palatable. stuart: it's not great for uber. >> it could be a nice lesson for uber to not make the same mistake. stuart: bed, bath & beyond, ouch, first loss, first sales decline in its nearly three decades as a public company.

the stock this morning down about 10%. huge loss. scott martin, that's an example of retail ice age, isn't it, because bed, bath & beyond is down because of online selling, in my opinion. >> yes. which is still not a big part of retail sales, somewhere in the teens by many measurements. a lot of us think about how much we do online and really, it's not even penetrated the overall retail landscape yet. but it is starting to. so yes, bed, bath & beyond is getting hit and certainly some of these other names, too. here's the thing. i think with some of these pickups and some of these names, eventually when they do fall like this, i tend to like to pick some of these up. when you do have a pullback like this, sometimes it's a chance to get in and right back a few percent. stuart: not sure i would buy a retailer at the moment. i say that because of a ubs study, listen to this, they say 75,000 retail stores need to close by 2026 because of online selling. that's 21,000 clothing stores,

10,000 consumer electronics stores, 8,000 home furnishings stores, et cetera, et cetera, et cetera. if they are saying that, i wouldn't buy a retailer. susan: rough numbers. i don't feel sorry for them because the writing was on the wall. i think particularly also, which a lot of people aren't talking about, it's the millenials that are driving this move to the online site and it's not like we all came out of nowhere. millenials have been the largest population for a long time now and retailers should have acknowledged that and realized what millenials wanted. we wanted convenience and that's online. i don't feel sorry for them. stuart: i don't care what the dip is in any retail stock, you can't pick winners in an environment like this. it's extremely difficult. >> i actually disagree. i think there's a couple winners you can buy. we just bought tjx and really like that one as a standout amongst retail. funny part, you hit the numbers exactly right. i saw the report from ubs, but i'll tell you, it's pretty histrionic.

that data and that report hits the market, it nails retail and i believe investors kind of run for the exits right away. i don't exactly believe that that's the right move. this is something that's going to shift over time and therefore, i think it's going to present some opportunities if a lot of these stocks get nailed. susan: peak margins, we know wages are going up, in fact, jeff bezos in his annual letter to shareholders, saying he's challenging other retailers to match $15 an hour. in fact, go to $16 an hour, if you can. i think that's a lot of trash talking because obviously, you make less profit if you have to pay out more. i think that's a complete sign or signal to walmart which is at $11 an hour. he's trying to say well, we do so much better. so step up if you can. stuart: that's a squeeze on profit margins all around. check the big board. we are now four and a half minutes in and we are up 31 points on the dow. i will call that a fractional gain. how about this. jet blue plans to start flights to london in 2021. disney are holding an investor

day today. we will get updates on "star wars" and their streaming service. the stock has done very well recently in anticipation of this news conference, this report today. how about the price of oil. down a bit this morning, no, just picked back up to $64 per barrel. energy stocks have been doing reasonably well. they are down this morning. anadarko the only winner amongst this list of energy stocks on the screen right now. how about this one. tesla and panasonic putting the expansion of their giga factory in shanghai and in nevada on hold. that's a big red flag. susan: a big red flag. i really am not that big of a fan of tesla, just in general as a long term hold because i simply look at valuations. you have to pay ten times more than ford and other types of car companies. i think this is a flag. i think car makers in general seem to be slowing down. i think it's a combination of all that. susan: do you see it as a car company or tech company?

i think it's valued as a tech company. >> yeah, but eventually i think people are going to recognize that it's a car company. stuart: that chart looks like -- >> technology. stuart: go ahead, scott, sorry. >> i was going to say, they have great technology. the battery technology is something that i think a lot, to susan's point, is a thing a lot of companies covet. the worry i have for tesla, i agree with michelle, it's elon musk. elon musk is one of the craziest wild card ceos we probably have ever seen. if he stops rapping he will probably do something else questionable. therefore that's a reason alone to avoid the stock. stuart: i think the worry about tesla is that the whole company is predicated on subsidies coming from the government to keep it in business. susan: that tax credit might be extended to 400,000 more cars. stuart: i don't think that's big enough in an era where everybody is producing an electric car. they are all coming here, i don't think any kind of subsidy that our government will offer will get them out of that mess. susan: they got ahead of general motors, got ahead of ford and

everybody else. >> now they are getting caught. now they are getting caught. stuart: okay. i still wouldn't buy the stock. >> fine, fine, fine. stuart: amazon, have a look at that. 7,000 employees listening to your requests on the echo device. that bothers me big-time. michelle, it does not bother you. >> it really doesn't. i understand if people didn't realize they were listening to you, that you would be upset, but i would buy a product like this because i want my life more convenient and of course, they are going to be listening to me because they are trying to make my life easier and adapt. it doesn't bother me. susan: invasiveness does not bother you? okay. it bothers me. i got rid of my echo a long time ago. stuart: scott, what do you say? >> i'm going to risk my future on this show, hopefully not disappoint you too much. it doesn't bother me either, to be honest with you guys. susan: what? >> noi know, susan. there's nothing that crazy i say to alexa. my kids do, that's their

problem. you guys, nobody cares what i say to alexa. it's similar to the stuff that gets posted online. i saw you talking to gary k. about it earlier. gosh, i just don't think anybody cares that much about what i say to alexa. stuart: do not worry about contradicting me. your future on this program is relatively secure. >> that's what alexa told me. she was right. thank you. stuart: susan, on the other hand, is locked in for eternity. susan: for all time. stuart: next case. senator ted cruz quoted mother theresa and it was blocked on twitter. can you believe that? quotes mother theresa and twitter blocks it. now, senator cruz is threatening to regulate twitter, google and facebook because he's charging bias against conservatives. but the stock never reacts. nothing ever happens, does it? nothing. susan: teflon. stuart: teflon. the next three weeks, facebook and alphabet will be reporting

very strong profits, odds are, so the stock doesn't get hurt. susan: this is not the first time ted cruz and elizabeth warren agree on something. that's shocking to me. i feel like it's the reputational risk has been priced in at this point. stuart: facebook is 177, google at 1200. how about that. check microsoft. it has just hit another all-time high. why not? play the trumpet. 120. amazon and microsoft are reportedly the final two in the running for that $10 billion pentagon contract for artificial intelligence. i think that's why microsoft has gone to 120. and why amazon has gone up well above 1800. susan: there was a report yesterday in the the request financi "financial times" that they might be working with china on artificial intelligence to analyze faces, track locations. red flags were raised by experts

and politicians as well that this might be used by the chinese military to surveil and also censor. stuart: i can see the stock dropping as we speak. no, it's not. >> i thought you said eternity. come on. stuart: i did, but i lied. 9:40 eastern time. thanks very much indeed, scott, michelle. great stuff today. now, check the big board. we are on the down side. lost some ground. we were up 30, 35, now down three. dead flat to slightly lower. macy's launching a new line of boutiques. they are opening 36 story shops as they call it inside their department stores. the boutiques will change themes, look and product lineups every six to eight weeks. macy's hopes this will encourage shoppers to come back more often. democrats going after attorney general barr after he said that spying did occur on the trump campaign. at 11:00 this morning, we talk to kimberly stossel who has been

covering this story for a year and a half. i want to know who was spied on and when. bank ceos faced that grilling on capitol hill. aoc asked jamie dimon whether any banker should go to jail over their role in the financial crisis. next, you will hear the sound and we will get reaction from one of the republican law makers who was in that room. yes, we will be back.

stuart: 13 minutes in this thursday morning, 33 points -- 30 points up for the dow industrials, 26, almost 26. got it. big bank ceos on capitol

hill yesterday. there they are speak swearing-in. listen to aoc grilling jpmorgan chief jamie dimon. roll tape. >> i represent kids that go to jail for jumping a turnstile because they can't afford a metro card. do you think that more folks should have gone to jail for their role in the financial crisis that led to 7.8 million franconas foreclosures, mr. dimon? >> i don't think people should go to jail for jumping a subway. i think we put too many people into jail. and i think if people broke the law, they should go to jail. stuart: tell it straight. joining us, congressman john rose, republican from texas. he's on that committee. he was in the room yesterday. i have to make the judgment, sir, that that was extraordinarily ill-informed mere political theater. what's your judgment? >> well, i do think there was a

great deal of political theater yesterday. as republicans, we are concerned about hearing from the largest financial institutions in our country. we know that those financial institutions are important to the greatness of america. they are important to creating jobs and opportunities for american workers right here at home. so we have real business and we want it to be about doing that. stuart: i got it but wasn't that an embarrassment? the chair of that committee, maxine waters, congresswoman maxine waters did not know that student loans are not issued by banks these days, they were nationalized ten years ago. the chair of the house financial services committee did not know that. sir, that is an embarrassment. >> well, i will leave it to others, including you, to comment on that. what we want to do is make sure that the working men and women in our country and those who want to get a college education have the resources that they need. i happen to believe that the government taking over the student loan market entirely was

a mistake, and one that we should revisit at some point. and it is disappointing when my colleagues don't fully understand the implications of those laws that have intruded into americans' lives. stuart: does your committee have any power? >> well, absolutely. we have a great deal of power, but -- stuart: that's what worries us. it is so ill-informed, they don't even know the student loan business was nationalized ten years ago, and they've got power. you can understand, sir, that that is very worrying. >> sure, and we heard a lot of the democrats' social agenda and their socialist agenda being talked about yesterday, and i think any person who understands the history of this country and understands economics and can see the history around the world knows that socialism is a very real threat to the economic security of our country, if we were to go down that path it would hurt all americans, so it

is disconcerting to hear them focusing on these issues when we have real business to be done. we need to be worried about how we unleash the innovation of american businesses so that they can create jobs and opportunities and uplift the american economy. stuart: got it. thank you very much for being with us this morning. we do appreciate it. thanks very much, sir. i've got some breaking news for you. larry kudlow talking about herman cain's future on the fed. what did he say? susan: basically, the economic adviser at the white house, larry kudlow, says the white house is sticking by herman cain as a candidate for the fed at the moment. there is a bit of an asterisk there. kudlow says he has confidence in jerome powell at the fed and believes he will turn into a good federal reserve chairman, will become a good federal reserve chairman, and kudlow says trump says cain will go through the process, repeated as recently as last night that he stands behind herman cain. herman cain, like stephen moore, has been criticized, basically

called trump loyalist. he has advocated going back to the gold standard which some think might be destructive and antiquated. cain also said he wants to get rid of the federal reserve mandates of full employment. there has been resistance to his economic policies and whether or not this might be the best way forward if he is confirmed on the federal reserve board. stuart: larry kudlow wants him in. he has to go through the nomination process which will be probably ugly and contentious. susan: i think you can expect that. stuart: the market is not reacting to this news at all. in fact, it's just climbed a little higher. now we have the dow up 50 points, 26,211. how about this. the price of gas is up over 50 cents a gallon, 53 cents, 55 cents, actually, in the last three months. by the way, california could hit an average price of $4 for regular in a matter of weeks. how high are prices going elsewhere in the country, and

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stuart: the average price for gas right now, regular, that is, $2.78 a gallon, up 53 cents in

three months. the average in california is more than $1 higher, $3.91 is the california average and by the way, gas buddy says $4 gas is on the way to california and beyond. gas buddy's guy, patrick dihon, is with us now. why $4 in california? >> good morning, stuart. i got one piece of breaking news. san francisco just hit $4 a gallon. that's the first time since 2014. so you heard it here first. you know, what we're seeing in california is the kind of normal, if you can call them that, issues that can develop during the springtime and in california, they are the first in the country to switch to cleaner gasoline. that happened april 1st for southern california. now we have about six refineries that are going through planned or unplanned outages. that's really hampering the ability for refiners to produce enough gasoline to meet the appetite of consumers. so prices are soaring in california and will continue to

do so in the next couple of weeks. stuart: now, the rest of the country, the average is $2.78. when does it hit $3 a gallon, average for regular? >> i think that's possible in may. we will have to see if we get there. right now, obviously oil prices looking very bullish. a lot of factors continue to weigh on oil markets. yesterday we saw a big increase in oil inventories. yet oil prices advanced on the heels of a massive decline in gasoline inventories. in fact, yesterday the third largest single week drop in gasoline inventories on record. so that's going to push gas prices higher, maybe $3 a gallon shortly ahead of memorial day before we see some relief. stuart: okay. i need a strategy, strategy advice. when is the best day of the week to fill up my tank? >> well, i would say early in the week, stuart. i know nobody likes to do these things on monday, and looking at our data, fantastic, by the way, friday at 5:00, i'm not sure if you are in this boat, but most americans are filling up friday at 5:00. not only are they spending more

money on friday, average prices tend to be higher, but they are generally waiting longer. there's more people filling up at that time. so monday morning is the counter to that. fill up monday and be set for the week. stuart: i think i'm going to put on our screen, i think we have the full screen here, the highest price gas in america as we speak is at the furnace creek gas station, california, that is, where the price has now reached $5.49 a gallon. what was that again? it's a city. okay. i'm sorry. i'm ill-informed on this. i used to live in california. i didn't know it was a city. susan: very wealthy. stuart: what's the problem in furnace creek there, patrick? >> i'm going to take a guess it's probably a little bit on the rural side and there's not a whole lot of competition. i know there's some stations in death valley that tend to get very expensive because there's not many folks there and the trucks are coming from so far away. but you know, a lot of it's competition. stuart: real fast, put this on the screen, the cheapest in

america we found is $2.16, that's it, in bryant, arkansas. they are doing pretty well. all right. patrick, always a pleasure. thank you very much for joining us this morning. see about that $3 gas in may. thank you, sir. disney's chief bob iger going after social media. he says the atmosphere is so toxic that hitler would have loved it. there's a story. we're on it. congresswoman ilhan omar facing criticism for her latest comments. wait until you hear what she said about the 9/11 terror attacks. president trump hitting new york and new england for their energy policies. he signed an executive order that will speed up the pipeline approval and building process. i think that's another victory for the president. my take on that is next. i'm working to keep the fire going

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stuart: the president had a message for new york state. it is really a message for all america. let us get at our own energy

resources. stop getting in the way of american energy independence. stop making your residents pay through the nose to heat their homes. that is what is happening right now. the president doesn't like it. new york state will not allow construction of a pipeline that would bring in natural gas from pennsylvania. it is part of governor cuomo' climate change policy. reduce usage of all fossil fuels. new york state does not allow fracking, deep drilling for gas even though the state has enormous reserves and fracking is a huge business over the state line in neighboring pennsylvania. result? it costs much more to receipt your home and turn on the lights numb, president trump alluded to this. because governor cuomo went let nat-gas be exported to europe. so the europeans by from, russia. imagine that. the governor is believes the

president is a russian agent is not allowed to undermine the russians. president goes right to the heart of the matter. his executive order speeds up pipeline approval and building process. good. new york state can still hold things up. governor woman mow is on the spot. killing fracking comes at enormous cost to new york state voters. will very pay up to support the new green deal? i don't think so. this will drive the left crazy but this is another win for president trump. the second hour of "varney & company" is about to begin. ♪ >> for example, this past winter americans in new england, new england, great place, paid up to four times more than nearby pennsylvania to heat their homes and also in new york, they're paying tremendous amounts of money more for energy to heat

their homes because new york blocked a permit to build the constitution pipeline a pipeline that goes across. we actually buy a lot of oil from other countries like russia, because we are not being permitted to build a pipeline through new york state. how about that? stuart: you heard it from the president, talking about energy independence, we talk about that in a moment. first, thursday, 10:00 eastern, the latest read or mortgage rates. here it is. susan: a tick upwards to 4.12. up four basis points from last week where it was 4.08 from freddie mac, 30 year fixed-rate. economists says rates moving up, mortgage application is down a bit because of jump in rates. how sensitive home borrowers and

buyers are to a price jump. existing home sales seeing the biggest gain last month since 2015. stuart: 4% is very low rate. 4.12 is very low rate. susan: how many people go with 30 year fixed rates. stuart: i would. i like the security. susan: arms and flexible rates. stuart: i'm not that sophisticated. susan: refinancing. stuart: my editorial top. hour, president trump wants new energy independence. mark chen owith. knew liberty alegalance. he has gone after the greenies. is he right to do this? >> absolutely, stuart. in ad digs to benefit for consumers, there is a benefit to the environment. when you ship materials through pipelines rather than other methods, pipelines is not the most efficient, best

environmental way to get the materials to the market. stuart: mark, i'm sure you studied the executive order that freed up red tape. will it actually work? will it speed up the construction of pipelines. will it speed up the possibility of a, that pipeline in new york state? >> well i don't know about new york state in particular, stuart, as you mentioned in your editorial, there may still be opportunities for the state to block what is going on there, but from a federal standpoint i do think that the executive order will be of benefit. from what itch read, looks like they're doing quite a bit to increase the efficiency of the process, to speed up the timeline and to renew some of the regulation that may be a little bit outdated now. stuart: i'm firmly in favor of america having energy independence. i'm firmly in favor of america having energy dominance. i don't see anything wrong with that at all. i want to be at the center of the global energy market. are you with me? >> i am, stuart. i think that there's at least two reasons for that.

obviously if american, if americans can get their energy here domestically we have more control over the prices and we can become confident we'll not have the sort of supply shocks we have had in times past when we have been more dependent on foreign producers, but the second factor in the united states is exporting natural gas and crude oil, then we can protect our allies from any adversaries who may be trying to use energy as a tool of foreign policy. stuart: but the argument is, we should not be exporting, keep our gas here, oil here, to lower the price here. what do you make of that argument? >> it is true to the extent there is domestic demand for it, we should do that. but right now we're producing enough to both meet domestic demand and supply additional amounts overseas. that should be fine. it is not as though there is an

unlimited storage capacity here to keep it for future use. stuart: it is amazing, isn't it? we have enough natural gas in america to supply the entire world if we get at and export it. mark, thank you for joining us sir, we appreciate it on an important story. >> thank you for having me stuart. stuart: george sea, annandale capital chief. george, obvious question, does wall street want the u.s. to be energy independent? >> i think they would love it. they could sell lots of bonds for all the oil and gas companies and sell new issue stocks to keep drilling et cetera. stuart as we say down here in texas you're preaching to the choir with all the talk of energy independence. we love it down here. the theater of the absurd on the left to block the pipelines, keep clean natural gas, bridge fuel we were calling it a decade ago, into new england is absurd. i want to add the energy independence of our country and fossil fuel resources is the

most significant event affecting the global economy, geopolitics, maybe more importantly than the collapse of the soviet union. it is huge. nobody is talking about it. we shake our heads and why can't people realize how great this is. stuart: i didn't know you were from texas, george. >> no problem. stuart: i i read a column but the tech inpos. unless you invent hope and dream, you're taking a big risk with these kind of companies, lyfts, ubers, airbnbs. is there too risk for ipos coming to market. >> for normal professional they are worth it but a lot of speculators making money on lyft. i would salute silicon valley for creating these wonderful companies and being smart enough to sell stock to the public right at the tail end of a 10-year longest bull market in

history cycle but for the average investor it is time to be a little more cautious and look for things not so quite high octane especially companies that don't make any money. almost all the unicorns don't make money. they have a lot of revenue, they're big companies, real companies but they're very, very risky. stuart: down the road aways wouldn't you want to be invested in this new technology company, lyft and uber and ride-sharing, airbnb, not the hotel business but apartment sharing business, you want to be in it eventually, wouldn't you? >> you would want to be market leaders. you want to be in it when the height of the, skepticism about these companies is at its peak. facebook traded over $200 a share. ipo'd at 35, proceeded to go down to 15 bucks. people questioned their business model and ability to turn on the juice of profitability that would be a great time to tune on

facebook and hold it forever. time something important. stuart: you're from texas are you anywhere near the permian basin? >> i have quite a few economic interests of our company in the permian basin. we have overabundance of natural gas. down in the permian we're producing natural glasses drilling for oil, or flare it off because the price is negative. our ability to export natural gas all over the world through lng, a wonderful technology and advancement is unprecedented. for decades. stuart: build me a pipeline, bring it up here please. we're kind of freezing up here. george, thank you very much for joining us. george seay, thanks for coming anytime. >> appreciate it, stuart. stuart: check the big board, very, very modest gain. 36 points for the dow just shy of 26,200.

how about bed, bath & beyond. ouch. suffered first sales loss and decline in the years it has been a public company. it is down 10%. now this richard cole, one of0 men took part in the doolittle raid in world war ii. part of america's first response after pearl harbor. he was part of a huge morale booster. richard cole died at the age of 103. jack keane will give some perspective on an amazing life later this hour. my editorial yesterday might have struck a nerve with the patriotic millionaires. i came out against their tax the rich conference. called it socialist propaganda. patriotic millionaires followed up with email blast. we paid stuart varney angry. we must be doing something right. really. democrats after william barr after he said that spying occurred on the trump campaign.

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stuart: the dow is up 27 points. that is a very modest gain. now look at tesla, new reports it is putting the expansion of giga factories on hold. that is taking it down 3%. $8 lower. wikileaks founder assange arrested in london. our justice department has hit him with computer hacking conspiracy charges. they want him back over here. blake burman joins us at the white house. what is the reaction to the white house. reporter: across the federal government they are putting the julian assange case in the hands of the department of justice. no comment from the white house. no comment from the state department as well. as the department of defense, rather, swiftly announced this morning, department of justice,

excuse me, swiftly announced this morning it will charge assange with a federal charge of conspiracy to commit computer intrusion. doj says in 2010 assange tried to help chelsea manning crack a password that was stored on the department of defense computers. assange now faces up to five years in federal prison. we'll see if president tum has any reaction later today when he hosts the south korean president moon jae-in at the white house this afternoon. it is quiet start for the president trump, although he sent out a tweet from the lou dobbs show on fox business. that tweet featured a poll that was not entirely accurate which fox would like to correct. according to poll from georgetown university 58% of the respondents approved of the economy. that pores. graphic was right. the graph showed 55% of the respondents approve of the president. that number is not correct. the 55% number, those, stuart

who have unfavorable impression of president trump. stuart? stuart: got it, blake at the white house. thank you very much, sir. attorney general barr, he says spying did occur. he was on the trump campaign in 2016. now listen to what democrat congressman jared nadler had to say about it. roll tape. >> so one group that is trying to divert attention from the real problem. i mean, it is a shell game. look at this imaginary conspiracy, versus the facts that the russians interfered with our election, that we have to have a serious investigation, we had a serious investigation, we haven't seen the result yet to extent the trump campaign worked with the russians in rigging, trying to upset our democratic election. stuart: let's sort this out. joining us haw meet dillon, national republican lawyers association. the democrats are outraged what william barr had to say. you heard from jerrold nadler

there. what is your response to what the democrats are saying about barr's statement? >> at one level i'm not surprised because of the level of hostility these people have shown to the president but really these people are elected to do the peoples business. instead of doing the business of the american people, what they're doing is pedaling lies and conspiracy theories themselves again and again. we do have the results of that investigation and the attorney general has delivered them. there was no collusion. jerry nadler is overheard on amtrak plotting his impeachment plans with his colleagues. no wonder is in denial. he really needs to get on with it. he is an embarassment to his district frankly. stuart: my perception the political tide has turned. for two years it has been russia, russia. now i think the tide is turning, well what were they up to, fbi, doj, back in the campaign of 2016? what were they up to? that is the investigation now. what do you say? >> i completely agree. you have got nadler, schiff,

swalwell still out there peddling these lies. i detect a bit of nervousness behind that. in fact they have been the ones out there conspiring with each other, potentially conspiring the previous administration with respect to framing this president. looks like our new attorney is ready to take names to find out what happened that has to make a lot of people on capitol hill who participated in this very nervous, people in the executive branch, fbi, doj as well, particularly democrats who have been rubbing their hands together with glee at the prospect of unseating an elected president. stuart: we are going to get the inspector general's report what went on, i think at the fbi in 2016. >> that's right. stuart: we'll get that soon. that will be more evidence of what went on back then. >> right. just as these folks are now beginning to turn on robert mueller because he didn't fulfill their fantasies they may see them beginning to attack michael horowitz as well, the

inspector general, he is undoubtedly going to find wrongdoing there. we've seen indictments passed down, recommendations for indictments to the doj by devin nunes, expect to see some people see jail time out of this conspiracy. stuart: i know you follow this closely. keep us up to speed what is really going on. we would like to know. come back soon. >> my pleasure. stuart: thank you very much. how about this from amazon, reportedly working on a way to accept cash at their cashierless stores. they're doing this to counter claims of elitism and discrimination. we'll look into it. what bob iger said about social media. extraordinary stuff. we'll tell you after this. ♪

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stuart: the dow is up 40. that is .18%, 26,200 is where we are. chipotle announced it is teaming up with dream hack to launch its own amateur e-sports series called the chipotle challenger series. that is interesting. chipotle getting in on e-sports side. $700 a share. disney's bob iger strong words about social media companies. how strong? what did he say? >> he did not mince words at all, stuart. he said it is drag us into the abyss. social media allows evil to prey on troubled minds. apathy is growing, consuming public discourse, shaping our country into something wholly

unrecognizable. he finished with this line, hitler would love social media. he was receiving a humanitarian award, bob iger was last night. this was a big part of his speech. so -- stuart: that is important. >> there is a bit of a crack, are you running for president? this sounds very political? jeffrey katzenberg was there. as many times i asked iger to consider running. bob iger blamed his wife. you're not supposed to bring that up in front of my wife. stuart: i think bog iger is one of the best executives in america. i agree exactly what he has to say. >> with the new zealand shooter, streamed the shooting live on facebook. couldn't get the video down. he was inspired by a youtube star. stuart: he said a lot. got it. amazon's cashless stores may begin accepting cash, why, susan? susan: they want to combat claims of discrimination and

elitism. so a few cities across america, philadelphia being latest one, have banned cashierless stores because millions of americans are underbanked. they don't have access to credit card or to a bank account. usually these americans are of lower income. in fact 25% of the americans still pay with cash. and they don't use credit cards. basically amazon, in a recent meeting according to cnbc, senior vice president says that they are going to back and accept paper money. these are stores that supposedly the thinking was, you would walk in, pick your items, you would walk out. cameras are everywhere. sensors pick up the items that you have bought, charge your credit card. if you introduce cash, what makes it different from a regular store? people -- stuart: you can't ignore a large chunk of your potential market. i mean 25% of the people in america pay in cash because they're underbanked, amazon can't ignore it. susan: i'm saying, might as well

walk into walmart or 7-eleven. >> some research shows we're willing to pay a premium, 130% premium if no cash changes hands. as we move to the cashless society that is good for businesses. stuart: good explanation. amazon by the way has thousands of its workers listening to the conversations that you have with alexa. how do you like that? i know. wait until you hear what congresswoman ilhan omar had to say about the 9/11 attack. you will hear it after this. ♪

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♪ ♪ baby you're a rich man, baby you're a rich man too ♪ stuart: i like it. the lyrics, baby you're a rich man. what is wrong with that. susan: producers tend to play the ones you don't like when you're not here. actually got one you like today. stuart: it's a good one. we'll stay on the british invasion theme i suppose you call it. prince harry teaming up with oprah, on a streaming project? you got to tell me more. susan: duke of sussex teaming up with lady o in the new apple streaming tv multipart documentary series they say. this is to focus on mental health. this will start launching on apple in 2020. she was a, oprah winfrey was part of the presentation at apple when they were launching this new pay for ott, streaming service. she will be working with prince

harry -- stuart: i wonder if prince harry will be paid for this? as a member of the british royal family he is not supposed to make money in dirty commerce. susan: or entertainment. i assume, given the subject matter this might be donated to hospitals and mental health care programs in the future. stuart: probably. is prince harry enough to make you buy it, apple streaming service. susan: oprah his. not prince harry. stuart: okay, moving on. new video surfacing about congresswoman ilhan omar talking about 9/11 attack. roll tape. >> cair was founded after 9/11 they recognized that some people did something and that all of us were starting to lose access to our system liberties about. stuart: some people did something. bill mcgurn, "wall street journal" editorial board kind of guy is joining us now. i repeat some people did something.

>> she is absolutely right. very telling that she won't say specifically what they did. this is a woman who sits on the house foreign affairs committee. so it is not just any congresswoman. i find it extraordinary. this is the face democrats really want to have out there? stuart: as nancy pelosi lost control? >> look, congressman and congresswoman often say outrageous things. usually something like this, their party comes in right behind them i think you should apologize or retract. it is amazing to me, so far we haven't seen that at least from democrats, right? stuart: we haven't seen it. >> we haven't seen it at all. it is also not a single note when you look at other things going on, when you look at the democrats booing jerusalem at their convention years ago, this is coming from a decided world view. stuart: it is totally divided party. >> right. stuart: on so many issues. >> i'm not sure they're divided. i think more secretly might agree with her than we know.

stuart: that would be nice to know, wouldn't it? >> maybe not on -- most are wise enough not to say it. stuart: here is another one. congresswoman rashida tlaib, she was grilling bank executives about global warming, climate change. watch this. >> do you believe that climate change is a serious risk to the financial system? >> if we don't have a plan, we'll not have a very good financial system. >> would you be willing to restrict, limit or change what your bank finances, what your bank finances if you're found out it is making the climate change worse in our country, in our world, would you change some of your behavior? >> we, we have already started that. we agree it is important. meantime the united states does need energy to eat, drive, get here, heat, ventilate hospitals. stuart: glad to see jamie dimon had somewhat modestly forceful response. what are they doing asking about climate change? >> this is a ersatz religion.

comes with demonology. they thought they had a panel of demons they could bully on. stuart: is that what they were there for, just to get beaten up? >> i think so. be frank that is what a lot of congressional panels are for. stuart: i find it particularly dangerous, the congressional panel, house financial services committee which has a big role regulating banks and entire financial institutions should literally regard bank executives as a punching bag. ridiculous. >> look, absolutely. i think it goes across, it goes across, you talk about a divided party. i'm not so sure they're divided. the green new deal. we've got all the spending "medicare for all," all this stuff, has ridiculous price tags even if it had a chance of getting through. and yet even the moderates running foal compelled pledge fieldty to the goals. they won't vote for it in the senate. stuart: won't get through the primaries of the presidential

election. >> tells you these beliefs are very important or at least politicians believe they're important to their people. stuart: what extraordinary influence rashida tlaib and others have on the overall democrat party. >> my own read of them they're to the so much leading the party as they are the result of these forces and they have been thrown up now and they're new and attractive and that is why they're getting a lot of attention. stuart: they're getting a great deal of it. i'm giving it to them. >> looks like high school, doesn't it? my 16-year-old doesn't come home. maybe i should give her the vote, doesn't come home with these crazy things. stuart: no. mr. mcgurn, thank you so much. >> thank you. stuart: let's get into climate change and money. with us now is david lefkowitz, ubs global wealth management guy. you organize where to put your money. you can invest anywhere in the world. is climate change a factor in your assessment of where to put your money? >> i can tell you our clients are talking a lot more about

sustainability and focusing on companies that do have some environmental and sustainable goals. that being said, it hasn't really impacted how we think about making invests in our portfolios but our clients are, we are hearing a lot more about that from a lot of -- stuart: is there a company anywhere in the world stands up says, we are really green, we're pledging ourselves to climate change, does that attract money? >> it can. i have mean, at the end. day companies do, i think at the end of the day it is about return on investment and bottom line. but there are investors that are, there is a larger number of investors increasingly interested in having those values as part of their portfolio. stuart: i'm not trying to ambush you david, i'm not trying to do that. i'm just concerned about this issue that seems to be raising itself all over the place. i want to ask you about earning. >> sure. stuart: tomorrow we start the earnings season in the united states. >> right. stuart: what are you expecting? >> it is going to be a soft

quarter. we're looking for 2% earnings growth this quarter. stuart: that's it? year-over-year? >> that is year-over-year. stuart: difficult comparison, isn't it? >> difficult comparison. global economy slowed down. we have insowner to overhang in semiconductors and other parts tech sector. things should improve second half of the year. interest rates are down, so mortgages are affordable for people. the global economy should pick up a little bit. we're seeing stimulus in china gain traction. that should have knock-on effects in europe. i don't think anything too be too concerned. market knows this the market is anticipating it will be a meh quarter but the outlook should be a bit better. stuart: if the market would be sourced not a meh quarter, money flows in from around the world? >> it is how does it compare to expectations. expectations are for a flattish earnings period. stuart: that is a rigged game.

place the bar low so you can jump over it easily. >> i think investors understand that. i think the market understands that as well. it has a lot to do with outlook. if the outhook is in line or slightly better than expectations then i think the market will do a little better on earnings. stuart: david, thanks for joining us. i didn't mean to ambush you, it didn't seem that way. thank you for being here. susan: fine. fine. stuart: the man's important here. susan: yes, yes. stuart: jetblue, they are going to fly across the pond? >> across the atlantic. stuart: thank you. susan: still considered a low-cost carrier. jeff blue has been thinking about this for three years. stuart: what class? susan: mint class. don't pretend like you not ever known mint class. stuart: i have flown jetblue.

they don't have a first class on jetblue. susan: it is called mint class. stuart: there is a difference, right? susan: their lovely way to say it basically. still considered low cost, you're making me lose my train of thought, stop it. they have been thinking about this for three years. this is basically break the legacy airlines. 3/4 of transatlantic flights are with alliances with delta, american and united. so if jetblue is getting in competition will heat up. especially fares getting cheaper it helps -- stuart: i feel bad for poor david here. >> i didn't know. stuart: mint is equivalent of so-called first class. susan: business. stuart: business. thanks everybody. this is serious stuff, wonderful stuff. richard cole was the last surviving member of the

world war ii doolittle raid. i wonder if you heard of that? people of my age have. perhaps somebody younger has not. richard cole died at age of 103. by the way his work in the pacific helped turn the tide for america right after pearl harbor. what a story. we've got it for you. happening on capitol hill now, acting defense secretary shanahan. he is testifying on the space force. this is days after he said war is coming to space and china will likely be our adversary. chew on that one with general jack keane. he is coming up next. ♪ ♪ so you're planning for retirement. ♪ what comes next? retirement? after that. after retirement? after planning for retirement. oh... retirement. you wouldn't accept an incomplete job from any one else.

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stuart: breaking news. michael avenatti will be indicted and susan, on what

charge? susan: 36 counts of fraud, perjury, failure to pay taxes embezzlement, other financial crimes. according to 36-count grand jury indictment, he stole millions of dollars from five clients. used a tangled web of shell companies and bank accounts to cover up the theft according to the grand jury indictments made public later on today at a 12 noon press conference. >> throw the book at him. that is what happened. all right. retired lieutenant colonel richard cole, the last surviving member of the doolittle raid has died. he was 103. now the doolittle raid targeted japanese factories and military installations. it helped turn the tide in the pacific in world war ii right after pearl harbor. joining us now, general jack keane, fox news senior strategic analyst. general, i think this is a story which should be told, which many people have never heard. give us a brief idea of the significance of the doolittle

raid. >> i'm so delighted you're talking about this, stuart. it is something america should never forget. this is five months after the surprise and stunning attack the japanese delivered at pearl harbor. and also we were then at war with the japanese and the germans. and the country was somewhat demoralized because everything seemed so tough in front of us at the time. this was a daring bold, raid, done from an aircraft carrier with b-25 bombers, never ever been done before. 650 miles away from japan. the target is downtown tokyo. it was not a military significance but of huge psychological significance in terms of the symbolic of it. one to deliver a blow to the japanese people who felt invulnerable based on the military that was leading them. and two, for our own morale, for the united states people and for the morale of our military. a daring raid to be sure.

and only 80 people participated in it. 16 airplanes. not a single japanese fighter opposed them because they thought they were friendlies. no one believed that there could be an attack by america on tokyo at that time in the war. yes, you said it right, it was a turning point in the war. stuart: i think we should all know it, acknowledge it, and teach it, because it was a wonderful moment. may he rest in peace. general, thank you very much for bringing us that story. i will change the subject now because the senate armed services committee holding its first hearing on the president's proposed space force of the acting defense secretary shanahan says a space war is coming. that is kind of dramatic stuff. what do you make of it, general? >> it is absolutely inevitable because our audience should understand and rightfully so, we're all carrying around cell phones and ipads, et cetera, that space technology touches every aspect of our lives.

it touches every aspect of military life as well, military capability. it controls gps, locationing navigating. it controls all of our weapons telemetry we use with sophisticated missiles and sophisticated bombs as well, all of our communication, all of our networking. so we are in space. and obviously if you're dealing with an adversary, you're at war with the adversary, not only are you concerned about that adversary's airplanes, ships and ground forces you're concerned about that adversary's space capability, you will attack it. if they take down our satellites control all of things i just described, we are slowed to a grind. and we know that. so you have to defend space, that is number one, that is what this is about right now, and number two space will be

weaponized. there will be weapons up there, missiles up there, other things that can fly other than missiles that look remarkably like airplanes. stuart: general, our china watcher yesterday, one of them, china has operational laser beam, it is operational and we do not have such a weapon. is that accurate? >> i can't get into the details of that because of its classification. i will say this, there is no country that practices anti-space technology more than china. obviously the united states does, russia does. the three of us. china is actually the most aggressive in this. they have been working on it for a number of years. certain categories i can say they are ahead of us. that is why this administration wants to put together a space force to get the kind of focus that is necessary to make certain, one, our assets in space are protected and two,

when war does come to space, that we win that war, we don't lose it. because we can't afford to lose it. stuart: general jack keane what a pleasure. thanks very much for joining us sir, good stuff. >> good talking to you, stuart. stuart: i hope you heard that extraordinary story of world war ii. we have another one for you in our next hour. wait until you hear what actress audrey hepburn was doing during the war. senator ted cruz taking on big tech. threatening them with antitrust action. you will hear all about it after this. ♪ want more from your entertainment experience?

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stuart: everyone, listen to what texas senator ted cruz had to say about tech and antitrust. roll tape. >> the giant tech companies today are larger and more powerful than standard oil was when it was broken up. if we have tech companies using the powers of monopoly to censor political speech, i think that raises real antitrust issues.

stuart: joining us now the author of the book "the myth of capitalism." don't be confused the author is a capitalist. her name is denise hearn. she is with me now. you agree with senator cruz, break them up? >> yes. stuart: you could break them up, split them up. you could fine them, big time. or you could restrict their activities, going whole hog, split them up. >> it's a multifaceted approach. it is clear we need regulation specifically around privacy, similar to gdr in europe but one of the key issues here these companies amassed so much dominance in the marketplace, facebook has 70% of the social networking market share, google has 90% of online search. what we're saying true capitalism vols competition. without competition in the marketplace, that hurts consumers, workers. stuart: but you never know where

technology, where competition may come from. >> yes. stuart: technology moves very, very rapidly, you know? >> it does. that is the creative destruction argument you know, i think people overly rely on that. if we look historically with at&t and their monopoly over the years, when they finally faced antitrust scrutiny a plethora of innovations hit the market were restricted. they were not core to their business model. they had very little incentive to disrupt. tech firms acquired 400 companies over the last 10 years. competitors, innovative technologies that might disrupt their business model. they acquire them, bring them in house so they can eliminate that competitive threat. stuart: you admit if you go after them on antitrust grounds it take years, and years, and years. >> it does. let's start now then. stuart: if you do that you will hamstring them going forward? >> that is on september of tim

woo mentions in his book the policeman at the elbow. we need to provide a check on their power. these cases take a long time to play out. but at least it lets the tech first, lets the tech firms know we're serious about this. stuart: denise hearn, the myth of capitalism. you have to explain that one. we do appreciate it. >> thank you so much. stuart: my editorial, criticizing the patriotic millionaires tax the rich conference, it struck a nerve. they even retweeted a link to my video and said, sorry you couldn't make it, varney. maybe next year. coming up i have another editorial for them. let's see how they respond to this one. it is just as venom oust. william barr dropped a bombshell said there was spying on the trump campaign. "wall street journal" kim straw sell. she is very important and knows more about this than anybody. she is next. ♪ -driverless cars... -all ground personnel...

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stuart: i sharply criticized the tax the rich conference that was staged by the patriotic millionaires yesterday. i'm going to do it again. they're hypocrites, trying to lead the country to socialism. how about that. millionaire socialists. they made a fortune but you can't. want to tax you on your way up and take it off you if you arrive at the top. the hypocrisy meter is absolutely off the charts. on the very day the conference convened, tax the rich, presidential candidate elizabeth warren revealed her family income, nearly $1 million. and her net worth is over $4 million. remember this? >> i hear all this, you know, this is class warfare. this is whatever. no. there is nobody in this country who got rich on his own.

nobody. you built a factory out there, good for you, but i want to be clear, you moved your goods to market on the roads the rest of us paid for. stuart: remember that? if she didn't make her millions, perhaps she should be patriotic and write a big check to the treasury. give it back. then there's socialist bernie sanders, also running for president. he will reveal his finances next week and word has it that he, too, is a millionaire. give it up, bernie. be patriotic. i do want to say thanks to erica payne, the organizer of the patriotic millionaires group and the tax the rich conference. this is the same erica payne who created the obamacare video which showed granny being pushed off a cliff. remember that? she used a paul ryan look-alike to imply that republicans kill seniors. miss payne put my editorial from yesterday on the patriotic millionaires website. big mistake, erica. it got a lot more views.

thank you anyway. last point. senators warren and sanders and all the socialists know that no matter how much you tax the rich, you won't have enough money for your green new deal or medicare for all, and they know it. they are humorless, angry people intent only on taking your money. i have seen it before. i've lived it. i don't want to see it come here. thank you. the third hour of "varney & company," yeah, we're about to begin. ♪ you're a rich girl and you've gone too far because you know it don't matter anyway ♪ stuart: very good choice of music. no hand in that whatsoever. "rich girl" by hall and oates. liz: there should be a rich boy. bernie sanders' theme song. kidding. stuart: a rare thing to have a two-day my take, but the

patriotic millionaires nonsense warrants it. i want to bring in ryan payne for this, payne capital management president. okay. this is perfect. elizabeth warren just came out saying she wants a 7% tax on corporations making more than $100 million. if that were enacted, what do you think that would do to the stock price, to wall street, to the economy? >> i'm always an optimist so i always believe that business will adjust regardless what happens. i just think in the u.s., we just have this fabric where everyone is somewhat capitalistic, everyone figures out a way. you know, i realize you get extremes from the left and the right but overall -- stuart: come on. you don't think it would do the economy any good, do you? >> it would probably slow the economy down. i can't read the tea leaves but i think even so, american business is so good, you would still figure out a way to be successful as a capitalist in america. stuart: that's ridiculous. a 7% tax on corporations making over $100 million, an extra tax, just chuck it in there? come on, ryan. where you coming from? you got to pound the table.

the socialists are wrong. do you want to go live in a socialist economy? do you want to be a stock market analyst? you want to be a wealth adviser in a socialist economy? >> it sounds like a buzzkill. no. i would not. stuart: thank you very much indeed. move on, shall we? to the next point. you've got three reasons why the stock market rally is going to continue, now that we've had a great rally so far this year. you say it's going to continue for three reasons. number one, the head winds are gone. what head winds? >> i have been calling it the absence of risk. everyone is focused on growth is slowing this year, the global economy is slowing this year, and that's where the focus has been, i think where the real focus needs to be is we had two of the biggest head winds essentially disappear. the china deal looks very good. it's probably going to come to fruition at this point, and number two, the fed came out again and just said basically interest rates are not going up this year so that accommodative fed still exists. those risks are off the table. stuart: they're gone. two big risks are gone.

the second reason why you think the market rally continues, it's a very strong economy. i assume you think it's going to continue. >> i do. yeah. that's the one thing we have seen this year, the economic data keeps coming in solid. it's not blowing the doors off but it's helping. we had another 196,000 jobs created last month, wages keep going up. i think that trend will continue as well. there's no overheating. stuart: number three, you say it is an underinvested market. not sure i understand that. >> i will blow your mind with this statistic. $80 million has come out of global funds this year. so all the selling is already done. that's why you are seeing very shallow pull-backs when the market actually does sell off. it's not very extreme because most money's on the sidelines. so at some point there's going to be an impetus as we just mentioned, the head winds are gone now, economic data will continue to be solid, that money has to find its way back into the market and that's going to

be what's going to drive this market higher. stuart: really surprising, because this bull market is already ten years old, that's long in the tooth for any bull market. you say it continues? >> it's the most hated bull market of all time. ten years ago, 65% of americans were invested in the stock market. now you are down to 54%. it's the most unloved bull market. it's been a very irregular one. stuart: do people get out after the crash? they lost out, maybe. >> i think there's panic and people never fully embraced the market again. i see this in our wealth management practice. people are sitting with so much cash, earning almost nothing because they are just scared after 2008. it had such a tremendous effect on their psyche. stuart: must be difficult suggesting after a ten-year bull run, it's not over, put that cash to work now. that must be a difficult sell. >> that's where great insight comes in. modest. very modest. no, i think it's pragmatic. i think that's been this market the whole time. we have had a very slow-growing

economy that hasn't changed. because of that, you have an overheating so you have to be practical about it. that's why the market is still a good deal. stuart: we hear you. thanks as always. appreciate it very much. all right. new york golfers, listen up. you might soon have to pay more at the links. there's a new bill making its way through the state legislature that could raise property taxes as much as ten times what those taxes are now. it's aimed at president's westchester golf course. the bill says the more opulent the course, the more they've got to pay. how about that. tax the rich. new york state. let's stay on your money, check lyft. it's up today, but still well below the ipo price of $72 a share. big drop yesterday, down 11%. coming up later this hour, we have bob dole with us. i want to know, should we be wary of other tech ipos that are coming down the pike this year. democrats are going after attorney general william barr after he said that spying did occur on the trump campaign. we talk to kimberly strassel.

she has been covering this for a year and a half, knows more about it than almost anybody. i want to know who was spied on and when. it seems "new york times" headline, the u.s. immigration system may have reached a breaking point. is that an admission from the "new york times" that yes, there is a crisis? fox news' bret baier coming up on that one. very soon, we should be getting pictures of president trump welcoming the president of south korea to the white house. sanctions on north korea, that's on the table for discussion. we'll be right back. how do you determine the durable value of a business in the transportation industry without knowing firsthand

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white house. president trump may soon be able to live tweet his reaction to economic reports like the monthly jobs report. now, this comes after the president tweeted his reaction before a jobs report was released. okay? we'll see how that works out. check the big board. very, very modest gains for the stock market. we're up 40 points on the dow industrials. do take a look at amazon and microsoft. they are finalists for the $10 billion pentagon contract. the military wants to move their data to the cloud. this is known as the jedi project. both stocks are up. microsoft at $120.38, a new high. back to that bombshell that was dropped yesterday on the hill. attorney general william barr says u.s. intelligence agencies spied on members of the trump campaign in 2016. come on in, kim strassel, editorial board member at the "wall street journal." spell this out for me, please. who spied on who and when?

>> okay. well, stuart, first of all, before that, i just want to tell you my husband and i spent last night telling our kids about the do little regs. thank you for that segment. we should teach it. stuart: i'm amazed how many americans don't know about it. they really should. that was a terrific moment in american history. but i digress. go ahead. >> amazing thing. yeah. i digress, too. so what we basically heard from attorney general bill barr yesterday was the obvious. yes, spying happened in the united states and what it was is we have examples of it, right. just for kicks, i looked up the definition of spying yesterday. one common definition is to work for the government and to secretly collect information on a target. well, this is what happened. we know of at least one secret surveillance warrant against carter page which is issued by a fisa court. there is a thought there may be two or three other individuals that were subject to such fisa warrants. we know that the government was

using human informants to go and interact with folks like carter page and george papadopolous. if this isn't spying, i'm not sure what it is. this was attorney general barr just reintroducing the media and democrats to some basic terminology. stuart: would this be unique in recent american presidential campaigns? >> well, look, let's be clear. the government often surveils, watches bad guys, okay. but we have rules and this was something that bill barr said yesterday. very strict rules about using those powers of government against political characters and political campaigns, because it can potentially be an abuse of power. we have never heard of the government opening a counter intelligence investigation into a political campaign before, and potentially never really heard of these manner and tools which were employed which are some of the most powerful and awesome the government has against political actors. so the attorney general is

absolutely correct. obviously he has an obligation to look into this and see if there was an abuse of power. stuart: in your opinion, would the use of the word conspiracy be warranted in this case? >> well, we are -- we do have a congressman, devin nunes, the ranking member of the house intelligence committee who is sending over to bill barr some criminal referrals and he is certainly using the word conspiracy. he is pointing out occasions, we don't know who the individuals named in these referrals are yet, but we do know that he is pointing out several instances of people lying to congress in the course of this, leaking classified information and then yes, several of these referrals he's arguing there was a conspiracy to manipulate intelligence and a conspiracy to essentially dupe the foreign intelligence surveillance court into issuing these warrants. stuart: strong stuff. kim, i would like to get your reaction to what speaker pelosi said about barr's testimony. let me show our viewers. roll tape, please.

>> let me just say how very, very dismaying and disappointing that the chief law enforcement officer of our country is going off the rails. i don't trust barr. i trust mueller. stuart: all right, kim. you heard it. your response, please. >> yeah. i have been searching my memory banks for nancy pe lolosi being dismayed back when eric holder was bragging how proud he was to be barack obama's wing man and that's actually the word he used. look, attorney generals have dual obligations. they work in an administration, they are also, as you said, attorney generals for the entire country. bill barr is acting for the entire country when he goes to look into this question of whether or not the government was abusing its power. it's a fundamental duty. i think the amazing thing it's taken us this long to get here. unfortunately, the former attorney general, jeff sessions, was forced to recuse himself and the fact we had this ongoing

mueller probe meant that basically, the department of justice was leadership -- there was no leadership, was leaderless, and there was no one to look into this basic question of whether or not there was abuse. we finally got that. we should be very happy about it. stuart: you know more about this than most people. we very much thank you for sharing your insights with us today. thank you. >> thank you. stuart: sure thing. i'm going to stay on the topic of spying obliquely. i bet audrey hepburn's name doesn't come to mind but it should. we will tell you what she was up to in world war ii. we showed you this, first image of a black hole. next we show tu 29-year-old m.i.t. graduate behind the algorithm that made that possible. we love success on this program.

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stuart: big deal from a galaxy far, far away. 55 million light-years away, to be precise. yesterday we showed you this picture, first actual black hole picture captured on a camera. what led up to the image? how much work was put into that one photo? well, the lady on your screen

right now, kate bowman, an assistant professor at cal tech, created and developed an algorithm over several years while in grad school at m.i.t. and using the event horizon telescope, she created the algorithm behind the photo. she's just 29 years old. well done. we've got some stunning photos to share. all part of national geographic's travel photo contest. on your screen, a photo of sunset in the italian dolomites. next entry, a beautiful thunderstorm in athens, greece. the competition is split into three categories. people, cities, nature. okay. some are a combination of all three, like this photo of a line of women drying chili peppers in the bangladeshi sun. the payout, $7500 for the grand prize, $2500 goes to first place

in each of the three categories. you can enter too by may 31st. great shots. audrey hepburn, what, a spy in world war ii? tell me. liz: a new book out this month, it went through secret diaries, secret information, talked to audrey hepburn's family. she was in the netherlands during world war ii. her family would hide allied english pilots when they were shot down in the netherlands. she spoke english so it helped her do that. she would also, you know, at age 15, dance ballet to raise money for the resistance movement according to this new book. she also helped deliver resistance newspapers to people in her area, hidden in her woolen socks and wooden shoes. she worked with a doctor who basically made up papers for people to escape the nazis. what triggered this, her uncle was brutally murdered by the nazis. he was taken along with others to a forest in the netherlands,

forced to dig their own graves, tied to a stake, then they were all shot. so this book also reveals that when the allied troops came to rescue them and free them and liberate them in the spring of 1945, audrey hepburn ran out of her house with her family. the allied troops started to point guns at them. she got terrified, spoke in english, said oh, you speak english, then it was all flowers and champagne. so this is a stunning story, stunning reveal. audrey hepburn helped assist in the resistance in world war ii. stuart: what a great story. love that stuff. thank you very much indeed. to the crisis on the border. "wall street journal" guy dan heninger says some federal judges are making the border mess worse. you bet he's on this show, now. we are also taking to -- talking to, i should say, long-time money manager bob doll who says the markets may be due for a pause before they head higher.

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stuart: it is a very modest gain, it has been that way for the last two hours of trading. we are up 18 points, that's it. i want to bring in market watcher bob doll. he's the chief equity strategist at newveen. are we in for a break? this is my opinion and maybe you share it. a lot depends on the earnings reports we are going to see over the next two or three weeks. do you think those reports, the earnings, the profits, will they be strong enough for a new breakout to take us higher? what do you think? >> i'm so with you, i think that's the issue, not only the earnings themselves but the outlook going forward for the second quarter and the rest of the year. we have clearly seen those earnings estimates come down, as you know, and it's my contention we have run hard. i think we just need a little pause. doesn't mean a lot of downside. let's consolidate call it the 25% gains we have had since christmas eve. it's been a huge run. we have watched those first quarter estimates come down due to some economic weakness here

and as much if not more overseas. stuart: it's a very low bar, isn't it. i hear the expectation, i don't take much time on these things but the expectation is for a roughly 2% profit gain compared to last year. that's a very low bar, easy to jump over, easy to surprise on the upside. >> i hope you're right there. that number, as you may know, september 30 for this quarter, was up 7%. by new year's day it was up four. we are getting close to zero. i don't think we will have down earnings, but i do think it's getting tougher out there. there are some pressures on costs, labor, especially, stuart, so i don't want to paint a negative picture. i just think we need to consolidate for a bit. stuart: what's the big dark cloud, if any, you see on the horizon? >> this is the good news. the dark clouds are largely lifted. when we were back at 2350 on the s&p christmas eve day, we were worried about the fed raising

rates forever, china and u.s. never getting together, recession cloud on the horizon. a lot of that has disappeared. it doesn't mean we're out of the woods. we've got, for example, a good initial unemployment claim number today. so the cyclical areas are doing a little bit better, machinery and airlines, semiconductors, but the health care's giving it back. you've got this back and forth as opposed to the whole market being in gear. stuart: i want your opinion, please, on this whole batch of new ipos, new technology companies coming to the market this year. we have already got lyft below its ipo price. it was $72, now it's $61. down the pike, we've got uber, pinterest, slack, airbnb, i believe. this is a whole new group of companies in a new technology area. generally speaking, i know you can't talk to individuals, but generally speaking, what do you make of this new group of

companies? >> well, there are some that are making money and some that aren't. it's hard to put a huge valuation on some company that's going to make some money some day, let's hope so. there's a little too much of that in that group, in my view. of course, they're not small deals. so money will come from other places to fund them. i hope the lyft deal is not a signal of what these other ones are going to look like, where they sag. that's not a good sign for the market. these will be important to get out of the gates and have a good reception. stuart: look, i would love to invest in this kind of new technology but i'm not going to do it immediately. i would wait maybe until the early part of next year. how's that for a strategy? >> i think that's not bad. for some of them, let's wait until they make a little bit of money, right? stuart: right. whenever that may be. >> detail, details. stuart: nasty, aren't they, those details. bob doll, thank you very much. always obliged. i want to get to the border crisis. it is a crisis. we have word that there's a new

migrant caravan forming in honduras. 1100 strong, all coming to the united states border with mexico. the president wants to call up more troops to protect the border. our next guest has that piece in the "journal" today. the author, dan henninger, joins us now, deputy editorial board editor at the "journal." correct me if i'm wrong but i think you are blaming this crisis, a lot of the crisis, on one supreme court justice. is that right? are you picking a fight here? >> well, i'm not blaming the crisis on chief justice john roberts. i'm saying in my column that chief justice roberts had an opportunity to push back against the dynamics that have been contributing to the crisis. look, the border patrol in march apprehended 103,000 -- apprehended, stuart, that is more than 3,000 people every

day. the trump administration tried to revise this and the only reason they are coming is because of our asylum laws. they know they are so loose, once they get in, they're in. the trump administration tried to revise the asylum laws to tell these people you had to come through ports of entry to qualify for the asylum law rather than simply coming across anywhere in the border. a liberal judge in san francisco overruled that and said they could come in any way they wanted to. the justice department ultimately appealed this to the supreme court. now, this is just one of several of these decisions and i'm arguing that a lot of these liberal justices will basically join the anti-trump resistance. anything they try to do on immigration gets overturned and a national injunction, issued. it comes to the supreme court, four liberals voted to continue the injunction that the san francisco judge had issued, four conservatives voted to stop it and take the case. justice roberts voted with the four liberals. what i am saying is this was an

opportunity to push back, to put up a yellow flag and say this m mayhem has got to stop. we have to think about what these court decisions are doing and reconsider them. instead he gave them a green light. so the court system just seems to be contributing every time one of these salutes comes up, and saying the asylum law has to stand as it is. we know the asylum law is broken. stuart: you make a very strong case. thanks for bringing it to us today. mr. henninger. now yesterday, senator bernie sanders unveiled his new medicare for all plan co-sponsored by some of his 2020 democrat competitors. i want to bring in griff jenkins for this. he chatted with sanders' supporters about this new deal, this new bill, i should say. what were they telling you? >> well, first of all, it is stunning that government-run health care is so popular among democrats that four of bernie

sanders' 2020 rivals are signing on, one of them, kirssten gillibrand, stood right next to him when he unveiled it. that's a big, big deal. but when i went to talk to his supporters, many of them nurses and doctors, i said look, i get it, it's single payer, no deductibles but how you going to pay for it, estimates are upwards of $32 trillion. here's what they had to say. >> the price tag is by estimate $32 trillion. how do they pay for it? how do we pay for this? >> overall it's going to be saving so much money in terms of providing benefits for better care, cheaper medication and it will save so much money in terms of reducing the cost of overhead and administrative burden of the current system. >> some americans are fearful this is socialism, this is health care like some socialist countries have. what do you say? >> i say socialism in this form is absolutely necessary for our

country to be able to succeed. >> everybody that i talk to, whether they be my patients, my family, would like to have the right to health care. >> it's the social structures that are making them so incredibly sick and harder to control their medical condition. it's really what i want to do because i think it's best for patients. >> it's not just gillibrand. also elizabeth warren, cory booker and kamala harris signing on. by the way, any chance it's going to become law. remember, this is the second time sanders tried it. probably not. mitch mcconnell shot it down, calling it medicare for none. house speaker nancy pelosi is not on board, either. she wants to rework the affordable care act. stuart: didn't howard schultz have some choice words for the sanders plan? >> absolutely. you know, schultz being a ceo understands that you just can't pay for it. it's actually a good idea in the abstract but you can't put it on paper and make the numbers work. that's why schultz is saying that he's going to have to pay for the things that he's suggesting but let alone

medicare for all. there's better solutions to fixing the health care problem, summing up a little of what schultz told trish regan last night. ultimately, this is an indication early on, on where the health care debate's going to go in the 2020 democrat primary, but it will be interesting to see if anyone can make the numbers work. stuart: got it. griff jenkins, good stuff. thank you, sir. see you later. seems the media's rhetoric may be changing when it comes to the border. the "new york times" headline, here it is, the u.s. immigration system may have reached a breaking point. sounds like an admission that there is indeed a crisis to me. fox news' bret baier coming up on that. very soon, president trump will welcome the president of south korea to the white house. they are going to talk north korea and whether the president should ease up on those sanctions. we'll be back.

stuart: big news out of london. wikileaks founder julian assange, arrested after seven years in the ecuadorian embassy there. that was on an extradition request from the united states government. the justice department has now charged assange with computer hacking conspiracy. any updates on that, we will bring them to you straight away, promise. now this. been a whirlwind of a week with hearing after hearing on capitol hill, but i have noticed one thing. the political tide seems to have shifted. this is my perception here. i believe it's gone from russia, russia, russia to what was the fbi and the doj doing during the election. there's also a shift on the border, an admission, i think, from the "new york times," here's the headline, the u.s. immigration system may have

reached a breaking point. that does sound to me like an admission. bret baier is with us, host of "special report" on the fox news channel. bret, am i completely out of bounds on this perceived shift in the politics here? >> no, stuart. good morning. i think you are exactly right. especially on the immigration front. the situation on the border, just by the stats, the numbers, the facts, while the president, the administration, republicans in support of his policies, have been talking about this for a long time, democrats have been pushing back saying there is no crisis at the border, it's made up, it's not a national emergency, and fought that order. the media was in lockstep with all of that. that has turned completely around. now some are saying well, yes, it's a humanitarian crisis. if you look at the numbers, it's a crisis, no matter how you want to characterize it, and you have the former homeland security secretary under the obama administration saying the same thing. on the tone on capitol hill, i think you're right that the

focus has shifted and we're waiting on the mueller report which could happen any day, the redacted version, but with the attorney general's blessing, saying he's formed this team to go after the beginning of the russia probe and the inspector general report that's expected at the end of may, beginning of june. that's a big focus of what republicans especially want to learn. stuart: but that doesn't mean to say anything will come out of this congress with the two sides very much at loggerheads. >> well, they have to figure out how not to shut down the government. that's one. they could possibly, i had the senate majority leader on last night, could possibly get something along the edges on drug prices in a bipartisan fashion. but big pieces of legislation, i think you're right. stuart: senator mcconnell just discounted the whole idea of getting any kind of health care plan through the congress in the next couple years. >> yes. he said, you know, what they put forward in the senate would not

go through the house, and he doesn't want to put forward anything that is not going to go anywhere. so his suggestion is, as he put it, fix what they can and try to deal with obamacare until the time when the president runs in 2020 on some package, some plan that is essentially the gop health care plan. stuart: could you spell out for us the political significance, if any, of the arrest of julian assange and the demand to bring him back here? >> well, i think that the extradition is going to be interesting to watch in the uk. the charge that they have listed, assange helping chelsea manning with getting classified material and screwing up counter intelligence operations for the u.s., i would think there's more to that, once he arrives in the u.s., and obviously, the bigger implication is what role he played in the 2016 election, and if he was in fact tied to

russia, as the intelligence community believes he was. stuart: may i just share this with you very briefly. i was recently in england, didn't spend very much time there but it's the first time i have been back in a long time. i was surprised at how many people came up to me knowing that i work at fox in america, and said you know, we could use a guy like trump over here. he does stuff. our politicians are lost. i was surprised to hear that. maybe that helps our president when he goes there in june for a state visit to get some kind of trade deal going. what do you think? >> well, there is this dichotomy, especially in europe, about looking at trump. sometimes they look at him like oh, can you believe the things he says and does, and he's so over the top. but there are other people as you mentioned who say this is a doer, he's getting stuff done. if you think our politics is chaotic, just factor in dealing with brexit and the headlines of brexit and what's happening or not happening. that's frustrating, to say the least. the average citizen is probably

saying let's kick the table over and try something different. stuart: exactly what they are saying. bret baier, we will be watching tonight, that's a promise. thanks for joining us. appreciate it. we are waiting the arrival of the president of south korea at the white house. this is a big meeting and it's all about north korea and whether america should ease up on those sanctions. we will deal with it next.

stuart: political theater of the worst kind on capitol hill yesterday, with the big bank ceos. that moment right there, you are about to see it, that was the tobacco executive moment, wasn't it? the swearing in under oath. now, listen to aoc grilling jpmorgan chief jamie dimon. roll tape. >> i represent kids that go to jail for jumping a turnstile because they can't afford a metro card. do you think that more folks should have gone to jail for their role in the financial crisis that led to 7.8 million foreclosures in the ten years between 2007 and 2016, mr.

dimon? >> i don't think people should go to jail for jumping a subway. i think we put too many people into jail and i think if people broke the law, they should go to jail. stuart: why are we relitigating the crash of ten years ago? liz: it's a great question. you know, there's more history here that aoc, alexandria ocasio-cortez, is not acknowledging. yeah, there was, i covered corporate accounting scandals. to me it was subprime accounting fraud where wall street got away with murder and maybe there should have been, you know, perp walks because they took a lot of money, but you have to back up. what they want to relitigate and do it right, you have to talk about the policies the democrats pushed like under the clinton administration, loosening up the community reinvestment act, trying to fix income inequality like giving everybody a house. stuart: the socialists blame the banks. banks have capital, they hate capital so they will go after

them for anything. global warming, god knows what. liz: remember bernie frank, roll the dice with fannie and freddie? stuart: i remember it very well. thank you, liz. big meeting at the white house today. we are waiting on president trump to welcome south korea's president. i want to bring in christian whiton. i understand president moon of south korea wants mr. trump to go easier on north korea, maybe cut some of the sanctions. what do you think? >> well, yeah, moon's going to try and convince president trump not just to perhaps ease sanctions but also to really go to town with some economic engagement. the south koreans would take the lead. this isn't the first time moon has done this. he was the chief of staff to an earlier south korean president that did something like the industrial complex which was putting south korean capital into north korea, using north korean labor. the idea was going to open it up, you have chinese style liberalization within the communist system. didn't work. they will try and get trump to do that to jump-start these stalled talks with north korea.

generally a bad idea. stuart: the talks are, in fact, stalled, going nowhere. we don't know where they're going in the future. is that the state of play? >> as far as we know, the administration i think quite rightly has not litigated this in public. so if there are meetings going on, at the working level, you know, they may be going on and there may be some discussions about next steps and how to move forward. you know, you have to also give some sympathy, not too much, but a little bit to kim jong-un. he has his own politics to contend with within the north korean regime. he's a dictator but he can't liberalize too quickly. yeah, there's not a lot of apparent progress in public. stuart: kim jong-un has to make sure that he and his family stay in power, because politics is a life and death struggle in north korea. he's got to stay there. that's what we've got to reassure him, right? >> yeah, that's right. he's actually done a pretty significant job for someone, you know, there's never been previously a second generation

dynastic succession in a communist system. before his father, there hadn't even been one. he really has consolidated his power but you are always looking over your shoulder in a system like that. it's not that his uncle tried to push him aside, he had his uncle murdered but yes, he will need to be made comfortable. stuart: the way you just said it so casually. oh, had his uncle murdered. really quite something there. do you think that the china trade talks are in the background of u.s./north korea relations? >> you know, to the credit of the president, previously we actually went soft on china including in the bush and obama administrations. the clinton administrations. because we wanted china's help with north korea. we have been able to keep up the pressure, the maximum pressure including sanctioning chinese companies that are dealing with north korea through this. i think if we get through the trade agreement, then it really helps, you know, clarify the situation and we'll return some of the attention given at the top level of the administration to the north korean problem and other parts of the china problem. stuart: real fast, you're not expecting any kind of breakthrough at this meeting,

are you? >> no, not at all. i think moon will sort of pitch more appeasement and the president will hold firm. stuart: christian whiton, right place, right time. thanks for joining us. going to show you live pictures, happening in just a few moments. that's the front portico of the white house. moments from now, south korea's president will arrive and the president will greet him. we will show you that. obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪

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stuart: ladies and gentlemen, i'm going to repeat what i think is the best and biggest story of the day, and that is, the passing of richard cole. he's the last survivor of the doolittle raid. many people in our audience never heard of this. so let me fill you in. in 1942, april 1942 four months

after pearl harbor, the japanese were sweeping through asia. america was at war. we made not response to pearl harbor at all. aircraft carrier, hornet was 650 miles off coast of japan. 16 b-25 bombers took off under leadership of jimmy doolittle. they dropped their bombs. went on to china. had no hope of coming back. several were killed. several taken captain. jimmy doolittle, and his copilot. richard cole came home. doolittle got the medal of honor. richard cole died at age of 103. i bring this to you, is one of america's finest moments. many americans do not know about it. that gave america morale at a time we had none. at a time the japanese were racing through asia. we had no response. doolittle and his crew had a

response. enormous morale booster. no military damage in japan what a booster. richard e. cole, may he rest in peace. he just died. neil, it is yours. >> stuart, thank you very much. we're following developments right now to avoid wars in the future with north korea south koreans are concerned that the north koreans are wandering from the script and increasingly hostile comments from both sides coming from both sides of the pacific. you heard julian assange, charged with computer hacking. he could face a lot of years in jail for this. we're following this very closely. as the attorney general of the united states william barr is raising questions about what