another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ maria: have a great day. stuart, take away. stuart: good morning everyone. this is a blockbuster report from reuters news service. president trump let loose those tweets because china had reneged on almost any point they previously agreed to. after months of talks the two sides have come up with a 150 page draft agreement. it covered all the big issues then late friday at the poetic cable landed in washington that reuters has blew up the deal. china had backed out. within 36 hours the president came back with those tweets announcing big new tariffs. perhaps china had underestimated our president and perhaps

president xi cannot bring himself to agree to what his negotiators had done but either way i opinion a trade deal now looks unlikely, certainly in the near term. moments ago we got this from the president. tweets - stuart: all of this brings turmoil to the markets and not going down well with the masters. after that big drop yesterday 473 points for the dow we will go down a little more this

morning. the dow set to open with the loss of 60, maybe 70 points. s&p down and look at that nasdaq, down about 44. that is roughly half a centage. another down day at least at the open this morning. we watch 40 hours from the 25% tariffs and they hit a 12:01 and that is the big news of the day. china trade in the markets. in a moment the lift and over driver strike in the right healing business model may be at stake. big show. varney and comedy is about to begin. ♪. stuart: let's get to china trade but i will repeat this. reuters report china reneged on nearly all aspects of the trade deal. fox news columnist who's been following the story for a long time and welcome to the show.

to me, it looks like a deal is very unlikely. >> i agree with you in the near term. chinese away underestimated president trump and his team's commitment to the various things outlined in that 150 page report. seven things were removed essentially overnight and things the chinese had already agreed to, technology and four, subsidies to state-owned enterprises et cetera but all the things that the trump team views as completely essential. i don't know the president is correct that they are looking for a different president to negotiate with but i think they are very worried for sure that he is worried about the impact of higher tariffs on the market and economy. people are estimating it will thing the economy and clearly we've already seen it will hurt the market and probably will again today and certainly will

if the higher tariffs go into effect. i think the chinese think he won't risk it and i think he will. stuart: susan, what you got. >> i think people need to understand how the chinese government works. it's not a one person to take a. he goes across the aisles as well and is a strong powerful pole. it's a ten member committee at the top of china's chain. basically from my understanding is that not everyone in that read that 150 page report when they went to the details why are we giving this up with the state-owned enterprises subsidies and transfer et cetera so they stepped in and said we will not go to agree - >> the urgency is not as strong as it was. we knew the u.s. economy is booming in china has been estimating the economy to the point that it stabilize into susan's point the chinese

president has to look at the political gains and losses from what the original deal and i think he's look at it and said it will hurt me. i need to pull back. stuart: i don't think he can go through with all commitment his negotiators - and what would it do to china's economy? you will not take other people's technology or steal it or steal intellectual property. >> keep the tariffs in place and basically until china proves they are adhering to the promises but how does that make the chinese president look? not very strong. >> but it's also risky for china to look these tariff increases go there but the party had substantial movement of supply chain away from china to vietnam, thailand et cetera. companies in the united states they think it's a permanent or even semipermanent change in their cost structure they will basically abandon china. that's a big piece for china. let's face it. their exports for china are more important to their economy and our imports are for us. i think they are taking a huge risk your.

stuart: okay. that's the political, the poetic trade side of the deal so let's talk money. how about this and the effect on the market. market watcher joins us now. look, what you make of this? we have futures pointing down about 80 points, down 470 yesterday and the market does not exist in fact, does it? >> no, stuart, it doesn't. this is what it takes to make the sausage. it is ugly and going to be painful and it's a pain that i will tell you i think we should welcome. i'm not one to the wall street on the bus but i will tell you wall street has had a lot or look at the dow 30 of the in bed and top companies that are benefit from china imports that have had these issues. they don't want to steal necessarily but long term if you look at china's 2025 made in china it is not a strategic relationship we can sustain in

america with china. the market is not going to like this but we have to deal with it. >> i understand and is a dichotomy between deal with it economically and the market dealing with it. is it the position that if there is no radio and looks unlikely at the moment - i have to say that in this market goes down from here? >> no doubt, stuart. no doubt. stuart: how much? >> what we saw yesterday and what we saw monday the came back it will look like a cakewalk. he has strategically started to realize we can't sustain long-term longevity with this china trade situation we have and we have had such great news on it all year. this has been unaffected and is a price and i take to this point the why aren't we meeting these negotiations and why are they now just striking in redlining the document. it's ridiculous. it will be painful but we have

to get it done in china will have to say face but we will not go with the deal at president trump will not go with the deal that is not going to make our trade balance change with china. stuart: where we are now is a trade deal looks like unlikely in the immediate future in the market is down again. rebecca, thank you. stay there for a second. another question, coming up. let me deal with over and lift. both those two companies their drivers are on strike in several cities this morning and will strike for two hours during the rush of and protesting pay and rushing conditions. does this action threaten the basic business model of uber and lift rides during companies. >> not right now because they are considered independent contractors not employees and they don't get health benefits and make an hourly wage. the problem is that they feel

they should be paid more. they should be sharing the wealth of the company especially if you're having an ipo bellowing the company at $91 billion on friday but uber has said over the years we had 1.1 million drivers in the u.s. and they've been paid a lot of money. globally, even paid a lot of money. $78 billion for $3.8 million on the. stuart: drivers want more money and united nation. if they get more money doesn't that crimp the bottom line of lift and uber? if they get unionization doesn't that threaten their business model? >> they work on a freelance. stuart: i know they do but if they get unionization does that destroy their business model? >> i think they been fighting this for years and i don't think the government has been . stuart: i don't care, if they get unionization does that

affect the business model of uber and lyft. >> if is a big question at this point. stuart: but if they are - >> then they would crimp the margins and yes, revenue and profits go down. stuart: does it affect the business model which is everyone's personal assets here? >> yeah, probably but they're also getting cash bonuses for they can participate on the ipo on friday as well. stuart: rebecca, come back in. would you buy uber on the day it goes public or within the first six months? >> it depends on your long-term strategy. long-term there are business model that year. a tribunal in the uk has decided wrongly, i think, that these are employees and it's been appealed to the u.s. supreme court. uber has made a filing regarding that disclosure and lift also made a filing regarding the fact that the business model to go from independent contractor to full-time employee which would impact their bottom line and earnings greatly. this is been an amazing app and company because of the fact they

have business models and employees benefit worker protections all of these things would absolutely have a huge impact. as far as the ipo is not the best time to have a strike this morning. not great timing but the drivers did that. >> great to have you on the show this morning. i will change the subject. look at this. the script is the newest royal baby. i would say the latest. official debut, there you have it. prince harry, meghan markle showing off their newborn son earlier today. they said parenting is amazing and magical so far. >> give it time. stuart: but they had not revealed the name. >> we don't know homebirth or hospital or - >> apparently is a private

hospital in london. >> they are not officially release that. stuart: this is video remember this cruise, cruise ship from hell? they reveal these dramatic images and now a class-action lawsuit against the cruise line. an attorney who filed the suit will join us next hour. what does he want? >> pepto-bismol. stuart: plus he says president trump is trying to go to the democrats into impeachment but is that what he is doing? we ask can start later this morning. president drop has a new immigration plan. it encourages merit-based immigration. looks to me like it's dead on arrival in congress but i kind of like it. we'll talk to the head of the rnc on immigration and moments. a look at futures will be down about the points for the doubt, 40 odd points for the nasdaq, "varney & company" continues after this. why are you so good at this?

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stuart: news this morning is very much centered on the china trade deal. and the imposition of these big new tariffs, friday morning to a billion dollars worth of imports from china. join us now, chair of the rnc. how much will these terrorists hurt the u.s. economy? can you tell us? >> i think the president is doing the right thing. what china has been doing to our country is what has hurt our economy, 500 billion dollars in trade deficits and the stealing of intellectual property - we have to take a separate our economy is booming and they are just damage. we have to take a stand in a position of strength. stuart: but he's running on the economy for 2020 and does not want anything to interfere with the economic boom. tariffs on china 25% could do that. worried? >> we just have to .2% gdp and

1% was from shaking our trade deficit with the president is spot on and then look at joe biden who is clueless. joe biden is clueless and said they're not competition and obviously doesn't recognize the hundreds of billions they're stealing and intellectual property. he's been clueless on every national foreign-policy issue, let's not go takeout osama bin laden and let's not talk about when syria crosses the red line. all the things to biden has gone wrong is proven by the president in the - our economy is booming as a result and will not be taken advantage of by ten anymore. stuart: do you think china has misread our president and does not understand our president? is that part of the deal here? >> i think that china should never misread or misunderstand our president but hold the line but he does not believe it is unclear on this and he was running for president and not going to allow our country to take advantage of any stray deals and we want to have respect trade and wanted to be

fair and make sure we have good radios but will not allow a country to continue to build up the trade deficit that hurt our economy, hurt manufacturing, hurt our jobs in this country. he is taking a stand in china should not, for any minute, because president is bluffing. stuart: real fast, can you deal with the president's proposal immigration and you outlined it to the gop senators yesterday and contained chain migration, and the lottery and courage merit-based system but that's dead on arrival in congress and i thank you can and that. >> it is common sense and the democrats have decided to see movement within the basin has been a 17-point jump among democrats that believe integration is a crisis. jay johnson from the obama ministration and mark morgan from the obama ministration saying we have a crisis on the border so i do think there is movement and you just off the new york times say it's a crisis in the new york times give the president the money for the wall so i do think the american people are getting more and more informed about what's happening

at the border. they want change and it makes sense but merit-based immigration and chain migration let's make sure that we are doing things that will help our economy and stop this illegal flow of people coming into our southern border. stuart: thank you for being with us as always. >> thank you for having me. stuart: back to money. check out the market. down again maybe 70 points but they drop their for the nasdaq as well. huge drop yesterday. remember all the hype surrounding the foldable phone? bones release has been delayed indefinitely. the company may cancel all preorders for it. what a blow to samsung. story coming up.

stuart: california may be the first american city to ban all tobacco products sales. what more do have on this? >> a draft ordinance went in to the evening but there are residents on high-end cigar lounge is for you can still smoke and imbibe tobacco products that they say this will have no impact on revenues of tourism and small business but however as you want to point out california it's legal for marijuana smoking and use but

the city of beverly hills and i looked into this currently prohibits the assessments of any marijuana dispensary, store or co-op. you can't buy marijuana in beverly hills or tobacco apparently. stuart: that's the question i wanted you can't buy tobacco and you can't buy weed either i did not know that okay. let's get serious. google's chief said they wrote an op-ed about privacy and what did he say . ashley: he said we should all expect it. good luck. it should not be a luxury good but it's something we should all expect that he wrote this op-ed and says in part quote to make privacy real we can be clear meaningful choices around your data all while saying staying true to to unequivocal policies. google will never sell personal information and that you get to decide how your information is used. in this op-ed he's calling for greater regulation and says

europe has it right with gdp a are, general data protection rate and is the lobbying congress for more regulation. he says it's the core of our business is to protect your privacy. susan: is a bandwagon and everyone started on. stuart: stop reading my gmail. ashley: i don't thank you mentioned that. [laughter] stuart: dow industrial is down 473 yesterday, down about 70 this morning and they drop but the nasdaq as well. take you to wall street in a moment.

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stuart: breaking news on the china trade deal more of it. >> we now understand the u.s. trade representative has officially filed the note for tariff increase and from 10%-25% on $200 billion worth of chinese imports. stuart: it is official? ashley: it's not been published but we it has been filed so there are on notice. stuart: let's deal quickly with samsung foldable phone but they are busy have a problem. susan: is now internally put off and if we do not hear from you in terms of getting your phone by may 31 your order will be automatically canceled. they had not announced any new

date because of the problem with the $2,000 from. built ship 2 million of them compared to hundreds of millions of regular phones but there we are. stuart: there you are. thank you very much. opening market is almost right now 9:30 a.m. and often running. that was yesterday down 473 this is today. down another 30 with a lot of the dow 30 stocks not yet open. now were down 21 or 19 and a fraction of call it a fractional loss expect a more put down 14, 12-point on the job and i call that slightly lower. how about s&p? to have the same story there? we do. flat to slightly low. not much of a loss, four points only. we inspect more but how about the nasdaq? down a bit more down almost a quarter% but down 13 points. i characterized this opening as flat to slightly lower. okay.

joining us now we have susan, ashley and let's start with china, shall we? you saw the news this morning, the chinese have reneged on 70 points of agreement that they had reached in the past and now we're filed official to get the tariffs on the books on friday morning. how is that going to hit the markets? take us through it. >> i was surprised we did not get hit harder this morning at the opening because we just opened. it's a long day ahead of us. we saw the reaction yesterday that they hoped it would be bluster and pass through this and getting knocked down. yesterday was proof that the china does matter big time and i think come friday if these tariffs go into effect the market will have some prices to pay for a lot of do business in china and imports from china.

the market is a bumpy road ahead of it. >> i'm trying to interpret this flat to slightly lower market that we've got right now and were already down three points on the dow industrial does the market - is it telling us that when these tariffs are imposed and looks likely it will not have that big an impact on corporate profits or our economy. is that what the market is saying? >> it is absolutely nothing. the issue right now is the market, store, does not believe it will go all the way through even if they end up posting it on friday. they think it will be short-lived as negotiations and up getting resolved. i think the market is right about that. the fact of the matter is there is a longer-term problem in the markets if we go forward with that accelerated next and wait waited. war and that is the capital expenditures and business confidence and productivity in business investment will dry up

as it did in the middle of the last year and need to get a resolution to this for sustainable profitability and confidence in markets. stuart: susan, why do you think the tariffs imposed will be short lived? susan: most market participants believe that because it's an afrocentric economy and they need to sell their goods to the u.s. reversed the s&p and they're only 11% of the revenues come from china because of limited access to the country so i would say china needs u.s. more than the u.s. needs china and in terms of the corporate heads most of them are exciting some deal because of that. ashley: because of that the markets and companies in particular are completely unprepared for a long drawn out trade war. i think there is a belief that this will get done quickly even in the suspect elation that perhaps some announcements in the next before the tariffs take effect midnight tomorrow and maybe they will be like talking

again so let's push back the position of the 25% tariffs. stuart: now down 65 on the dow. go ahead. >> i agree with everyone but no one is pricing and the prospect of this being a protracted trade war and that's the danger i see ahead of us. market has not price anything like that. from the president's point of view the expense to reason he would want to negotiate hard and done a great job and i back him one 100% in the second right approach with china. that might mean a protracted battle. coming in to the election cycle here so it will not be forever but he might play this out and stock market has backing of the federal reserve they will not raise rates so this could be a hard time to play hardball. it does not . stuart: let's take a big look at the retailers. they stand to lose significant if 20 represent tariffs are on

imposed on chinese goods coming here but looking at cosco, williams-sonoma, they are on your screen right now. they been down big over the last few days and down again this morning. david, would you avoid retail stocks because of the tariff brought? >> i think we have a phobia around the space because so many of them are so - speaks to the point that if they don't have a margin for error cosco is a different and i was the walmart they can still have impact to earnings i think some of them just have leverage on the balance sheet that takes any kind of a hit on the margin though things off. retail is a great example of a formal space but frankly the industrials you have an awful lot of names and i brought up earlier it's also a macro sentiment that it produces across the entire market join up that business confidence. stuart: i want to talk about

lift. they lost a billion dollars, what he think of the company's first-quarter? would you buy lyft when they just announced a billion-dollar loss? >> no. from the speculative point of view if you want to have or take a chance with it with speculative capital but long-term investment, no. a lot of working out to do. revenue increased almost doubled year-over-year but however their labor costs increased almost a billion dollars. yet the striker now and we'll see how that impacts them. it will be an ongoing problem for the company but i would not touch us right now. stuart: check that big board. we opened flat to slightly lower. now we are lower with down 69, 70 points well below 26,000 market interest rates coming down and over the last couple of days were down to 43 on a ten year treasury.

price of gold has moved up a little bit this morning but barely a gain at $2-that is your loss. how about oil? sixty-one dollars a barrel as of this morning. american, delta, southwest airlines raising domestic affairs $5 each way. as, i'm not been on the commercial fight lately which has not been - but i don't think this will make a difference. ashley: it will not. huge demand and one jumps and they all jump in so it's such a wonderful spirit and i'm happy to pay an extra $10 round-trip we want sarcasm is a form of wit. gm's self driving car company gets a billion-dollar cash injection from investors. the stocks going nowhere at $30 a share. i just - david, come on. i don't buy this. i don't buy this self driving

trend, do you? >> i don't buy the self driving trend in a metaphorical way and don't buy the stock or any of the other stocks. the amount of money that will get the way when all is said and done taking this thing is unfathomable and i agree with you this trend is going nowhere. susan: basically gm self driving unit cruise has gone $4 billion for inventor cap money. a lot of money but i think this is the way of the future but you will not starve yourself honestly but you will not need someone to drive you and that is the future of taxis and transports and the shared economy that we are in. everyone is getting into the game if there's cash burn involved in no cooper was spending 250 million a quarter on their self driving unit and technology, r&d takes a lot of money to get. stuart: i can see a self driving car taxi fleet. i understand that but i do it

myself and i'm not going to go out and buy one for myself. to let it drive me out of my garage. susan: it will replace taxis especially when we talk about over and lyft employees and they want full benefit et cetera. stuart: i want to show you dizzy because the heavy moving line up to die for. put that on the prompter, please. lineup laid out for the next eight years. a lot more "star wars", superheroes, avatar - that's a lineup blockbuster lineup. do you like that, david? >> markets are always discounting mechanisms. my kids love the lineup and i think it's dynamic and create a ton of revenue and cross-selling opportunities but until disney raises their dividend, stuart, i do believe they believe it.

[laughter] voter confidence is always for management and management both with their dividend growth always. susan: but they just bought up the 21st century box assets and this is their lineup for the next few years with i don't know why it took so long for avatar to? it comes out in 2021 and rolling out a lot more "star wars" films and they bought it for $4 billion in 2012 net franchise is multiples of that and why do they make a kings man three? wasn't the second one bad enough? you need a third one? stuart: i need to get out more. [laughter] need a self driving car - [laughter] thank you for joining us everyone. 9:40 and that's means we say goodbye to top gentlemen in the screen. check that big board, 25,900, democratic presidential candidate getting flak for saying america was never as great as advertised.

showing your disdain for america achievements is a really bad campaign strategy. a rant on that at the top of the 11:00 o'clock hour. divided, come all harris want to repeal the president tax law if there a president. it only helps the rich mike says small businesses booming like never before because of those tax cuts. what do you want to do? reverse those tax cuts? next, house speaker pelosi says president trump is trying to goad the democrats into impeachment. former independent counsel kenneth starr knows a thing or two about impeachment. he joined us next. ♪ jardiance asks... when it comes to type 2 diabetes, are you thinking about your heart?

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stuart: yesterday when i talked about the market stabilizing boy did i get around because it went down soon as i said it. i'm not going to say it again but we are down 29 points as we speak. down to 2925, 935. they will vote on whether or not to hold attorney general bar in contempt over the release of the full unredacted mueller reports. that's on one side. meanwhile, listen to what speaker pelosi had to say about impeaching the president. roll tape. >> trump is goading us to impeach him. that is what he is doing. every single day he is taunting, taunting because he knows that it would be divisive in the country but does not really ca care. we can't take or impeach him for political reasons and we can't not impeach him for political reasons. we have to see where the facts

take us. in this case, the facts in the wall and that will take us to the place that we need to be. stuart: the place where we need to be. can starr knows. former independent counsel joined us right now here in new york but for the back to the program. >> thank you but good to be with you. stuart: what you make of what speaker pelosi said? >> she has the authority and power but she better not use it. it will be divisive. the house has broad authority into the constitution but it would be extraordinarily unwise based on the facts. first of all, no collusion. that is key. there was no act of treason or quartzite treason. now there's quibbling about issues of it's a power struggle between congress and bill barr and the justice department. there is no basis for impeachment. stuart: you have read the report. >> i have. stuart: and you read the

motherboard as much as you can read but in that report of the grounds for impeachment? >> not in my view. there are those who say look at these obstructive acts but i respectfully disagree. first, we have the judge bill barr and justice department say they do not amount to a crime. where these actions wise for the president? no, but they were not crimes as i see it. if you don't have a crime i think it's very odd to proceed down the grounds of impeachment. here is the key, stuart. there is zero republican support for impeachment. unless there's a consensus within the country and a broad consensus, not unanimity but a broad consensus that needs to be done then it's an extremely unwise and just bad for the country. speaker pelosi. stuart: speaker pelosi does not want to go down the impeachment of the being pushed on it by her extreme left. she's trying to get a middle ground here. will you trash the president with endless investigations and all kinds of indications but don't try to impeach it because you can't - is that roughly

right? >> as it stands now, yes. a lot of saber rattling but knowns really firing their weapons yet. the target is the justice department and bill barr. that is the crossroads where the battle is being engaged. we will be but the indication of exactly privilege which is the latest round from the executive branch we may invoke executive privilege perfectly normal, ordinary, president clinton did it, president obama was keen on doing it. oh yes, executive privilege is always the constitution itself. stuart: i think we have 20 minutes of anti-semitic education, legalism, lawyers peppering questions at various witnesses but i don't think the country likes it. that's my opinion in my view of contemporary iraq and politics but what do you say? >> it's easy to suffer from investigation fatigue. i saw that back in the 1990s. [laughter] [inaudible conversations]

people get tired of it. stuart: careful, can. [laughter] we saw your report. >> i didn't think anyone read that report but we've all been reading them all the report. [laughter] there is so much detail and i'm talking about book one asleep obstructive acts behind but that's the tail that should not wag the dog. the key is what did he find in book one? at every turn, every turn, no collusion. it is a war and peace very boring - i must say, my report was rather interesting. stuart: yes it was. >> you did read it. shame on you. [laughter] here is the point. if there is no underlining crime but with all due respect perjury and obstruction of justice with president clinton, and we don't have that here.

don't go down the road of impeachment. whatever the politics are it's bad for the country but speaker pelosi said it is divisive so don't go there. you are in charge. stuart: can starr, you know what you're talking about but thank you very much for being on the show today. >> thank you, stuart. stuart: let's check the big boards because we have turned positive. all over the place today and thinking we be down 100 at the opening bell and when we went flat to slightly lower and outer tire. could be that the market says when we get those tariffs, come friday, it won't have that big of an impact on economy or profit. that's what the market is saying but not sure about that. big night in scores, opened a, hockey player but decided in double overtime and will ignore all of that - why? we will talk soccer. yesterday's barcelona match was absolutely huge. i can't describe my excitement or enthusiasm.

susan, it leads that goldberg will be back in a moment with liverpool. they one! i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪

at adp we're designing a better way to work, so you can achieve what you're working for. morning. what are you doing? isn't it obvious? nah. we're delivering live market coverage and offering expert analysis completely free. we're helping you make sense of the markets without cable or a subscription from anywhere you are. i get that. but what are you doing here? nice pajamas. really? i say pajamas. pajamas, pajamas, whichever. good. yahoo finance live. stream free anywhere. welcome to the show. let's make finance make sense. welcome to the show. at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward.

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on your screen now. liverpool scored four goals against barcelona. i will show you the first. we just saw the first. where is the second? ashley: coming up. stuart: this is the second. okay. that made it to-knelt to liverpool. heading close to barcelona. there is number three. they are now equalized and that meant barcelona three, liverpool three and wait for it - there it is. it is in the net. four goals, liverpool wins. greatest - stop looking shocked, susan. susan: i am shocked. stuart: greatest comeback in european history. that is why this man put him on the screen - should have a smile. this man is [inaudible] a goalkeeper from liverpool and new liverpool's ambassador to the united states and that liverpool will play three

matches in america. in my right? >> that is corrected they play at notre dame on the 19th of july. stuart: let's see a smile. >> and of course here in new york became here and watch the game at the 11th street bar with the liverpool supporters and we were there, watched it and they said to me to believe and i said of course. 2005 we only had 45 minutes to get and we did it with stevie g. tonight or last night it was incredible. 90 minutes and we needed that first goal in the first half and then we sucked them in. the gold in the second. stuart: i don't understand that but - most - is he coming? >> it depends. it depends if egypt need them for the african nations but i'm sure they will be bringing the rest of the full team. i'm sure.

stuart: three games in the united states the summer. first game is when? >> notre dame on the 19th of july. stuart: second game. >> fenway park on the 21st. stuart: third game? >> right here in new york. portugal lisbon on the 24th of july. tickets go on sale tomorrow at 10:00 p.m. or 10:00 a.m., sorry. stuart: after that game yesterday - >> unbelievable. stuart: why you have a south african accent? >> i was born in the african but it was not my country but i grew up in [inaudible]. stuart: welcome to america. we hope you do all the summer. >> thank you very much. stuart: china trade, that is the big news story of the day but we have report from reuters claims china reneged on virtually all aspects of the deal which had

been agreed to after months of negotiations. looks like the deal is in serious trouble. i don't think president trump is to blame but i blame china. my take on that, next. . .

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stuart: when president trumps tweets announced sunday on big new tariffs on china trade there was a real sense of shock. why is he doing this now? and why such drastic action right out of the blue? well now we know. the chinese had reneged on almost every point that had already been agreed on in months of negotiations. a block bustier report from reuters reveals just what the chinese had done. here we go. a diplomatic cable had landed in washington late friday night. reuters say it quote, systematically edited the 150 page draft agreement that was the basis for the deal. china had reversed its commitments, walked away. think of the timing here.

our top trade negotiator spent the week in high level talks with their counterparts in beijing. they achieved what they thought was a breakthrough, 150 pages agreement. then as they arrived home beijing reneges, suddenly and totally. that is why the president unleashed his tweets. i had no choice but to play down -- lay down the law. how do you continue negotiating when your opponent reversing on everything you spent months negotiating? if that is the chinese thought process they have wildly underestimated president trump. two possibilities here. number one china doesn't understand the strength of our economy or america's political unity on this issue or the support we have from many are all other trading partners. mr. trump is bargaining with a strong hand. maybe they don't understand that. two, china just can't handle an treatment that would really stop them stealing from us or stop the forced transfer of technology. either way the trade deal is in

serious trouble. i don't think it is mr. trump's fault. the second hour of "varney & company" is about to begin. ♪ stuart: despite the china trade news, look at this. the market is up, not much, okay, not much. but we're up 12 points now, 25,971. 30 minutes of trading. we reversed course. now we're a little higher. okay, we have to get more on this with the market and china trade reneging i have to say. joining us keith fitz-gerald i should say. welcome back to the program. now you were on the show on monday morning and you said you couldn't understand why on earth president trump had come out with these tweets over the weekend. well now we know, i blame china. what say you? >> absolutely that's the case. this is chinese negotiation 101,

believe it or not, stuart, using principles laid out in the fifth century by a chinese general named sun tzu. they are hoping to get us so tired, so fed up, we'll agree to positions that benefit the chinese. this is classic, classic chinese negotiation. the fact that he went out with a tough tweet has them reeling they don't know how to handle something like this. they are used to wearing us down and they are used to the west being a bunch of patsies. stuart: i don't see an agreement in the immediate future. i'm surprised the dow is down only a fraction. how do you explain that keith? >> traders are beginning to realize there will be an agreement. they're also beginning to abroader understanding this is chinese negotiation 101. china many cases stuart, believe it or not, doesn't actually want an agreement. we view negotiation in the west as a means to an end. they view negotiation as the

start and if in fact they do it right, something that benefits them exclusively. stuart: if the tariffs are imposed, if there is no deal in the immediate future, does this market, the dow, for example, does it go down from here? >> you know, the fact that we have a bid on this morning, meaning we've had buying come in the face of all this, makes me wonder whether that will be the case. a week ago i would have said yeah, we're going down hard. now if we got a bid, i think traders are beginning to come to their senses. i think they begin to broadly understand how the chinese play the game and the president has got it uncontrol. i'm not so sure we'll see a big drop even if there are tariffs put in. stuart: maybe the market is telling us, when we get the tariffs, it won't have that big of an impact on the bottom line of american corporations. maybe that is now we're a point higher? >> well i think that is accurate too. i think estimates say we'll shave off something like .54%.

china may lose one 1/2% of their gdp. our gdp will remain largely unscathed. that is the important part. stuart: thank you, keith. i want more on reaction to the china trade news. david is here. i read your stuff. you say if we don't get a trade deal, impose the tariffs, that the s&p 500, very broad-based indicator goes down 10%. that is a big statement. back it up. >> 10%. that's if we tariff all of the imports from china. we're not just talking about what happens on friday but also what happens in the months after that. if we're just talking about what happens on friday, earnings take a hit by one to 2%. maybe we see total decline of maybe 5% in the s&p. so i think there could be a little bit more downside in the short term if we see the tariffs go in place. obviously the market will want to understand how long will the tariffs be in place. when is the next stage of negotiations and what is the prospect of a deal.

but the worst-case scenario if we tariff everything, could be 10%. stuart: as things stand now, i don't see either side able to back down. president trump's hard-line very difficult to reverse. the chinese would lose enormous amount of face if they backed down. i don't see a deal? >> i do think we're settings up stage for more negotiations. i think it will take a little bit more time for both parties to some agreement. i think though what is more important for investors is what do we do with this, right? i think it is really important not to overreact to those headlines of the as we've seen, sometimes the market goes down a little bit on the headlines. sometimes it goes up a little bit on the headlines. i think it is really important to understand the downside that most we're talking maybe 10%. i think there will be a lot of pressure to find a deal. that, so if you do see the downside coming into the markets, that is when you want to get prepared and start looking at things to buy, because there is a bit of a circuit breaker here i think.

stuart: hands off at the moment, see how it plays out? don't get in or out. hold on, hold on, wait and see, make your decision when we know more of the facts? >> it's a very fluid situation. i think it is very challenging to try to trade all these little headlines come out, tweets and things like that. stay focused on the long term. if we see substantial downside, five to 10%, think about buying. for now i would sit tight. stuart: can you tell me what the investment community feels about this? this is very difficult question. there is political unity. democrats are backing up president trump. our trading partners backing up president trump. president trump has the full support of gop. there is unity there. what about wall street? >> i think it's a nuance. on one hand in the short term wall street doesn't want to see a hit to corporate profits but i do think there is a recognition in the financial community that, look, stealing technology, stealing intellectual property, that hurts the long-term competitiveness of u.s. companies. so i think the market is

prepared to take a little bit of short term pain in necessary for a long term benefit. that is where the political consensus is on this as well. stuart: i would agree with that. i'm surprised at the amount of political unity there is opposing china, what they're doing. david, thank you very much for joining us. on a very big day. thank you very much. "the new york times," i'm sorry president trump is responding to "the new york times" report about his taxes. by the way that report said he had lost a billion dollars in the '80s and '90s. now what is the -- ashley: pretty damning saying it was marked by a whole lot of acquisitions and collapses in his business dealings. this is what the president responded to in tweets. real estate developers in the 1980s and 1990s more than 30 years ago were entitled to massive writeoffs and depreciation which would one was actively building show tax losses almost in all cases. much was non-monetary. sometimes considered tax shelter. you would get it by building or even buying.

you're always wanted to show losses for tax purposes. almost all real estate developers did and often renegotiate with banks. it was sport. additionally the very old information put out is highly inaccurate, fake news hit job. stuart: it was sport? ashley: period of 1985 to 1994 be. stuart: it was sport, that is what the president said? susan: he didn't pay taxes eight out of 10 years, massive losses depreciation. if the tax law allow to you do that, why shouldn't you take advantage of it? ashley: the tax code. so there you go. stuart: been taxed on profit as well. that is the other side of coin. susan: capital gains. stuart: later this hour, nigel farage he is coming to the show. what does he think about president trump's new immigration plan which would be based on a merit system? we got that story for you. 49ers quarterback, jimmy

garoppolo will be in the studio. he will get his message pursuing a trade career. we cannot always be star football players. passengers of the viking sky cruise take legal action. look at the video. they were airlifted to safety when the cruise hit rough seas in norway. they're pursuing a class-action suit. we have the attorney. who gets the money? ♪ hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance,

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stuart: want to see dead flat in you're looking at it right now. minus two points on the dow, 25,962. have a look at disney. their earnings report comes out after the closing bell today. they're still pretty close to

the all-time high as we walk up to that report. it is a dow component. we should tell you that. roku, they make the streaming, plug it into the tv, so i'm told. their earnings come out after the bell, i'm not sure we got roku on the screen. we have the dow moving up eight points. right. >> into first it was samsung. they tried the foldable phone. didn't work that well. now google, they too are working on a foldable phone. ashley: they have been looking into it. they have been prototypeing a foldable display apparently for some time but according to their pixel development leader he says, quote, i don't think there is a clear use case yet. in other words i'm not too sure the demand is there yet but they have been prototyping this type of technology for a number of years. don't expect it to come. there is no phone. don't expect it to come to market anytime soon. they're kick it around. samsung flamed out in

embarrassingly style with their first effort. susan: huawei came out with one in barcelona. would i argue the pixel should be cheaper than most of these other phones, pricing it at $400, compared with four digits for others. stuart: a bit gimmicky. susan: i enjoy it. get two phones for one. not just a mobile phone but a tablet. why do i need to buy an ipad? ashley: it is very clunky, at least the samsung we tested on the show. stuart: difference of opinion on the foldable phone, some are for it, some are against it. susan: technology is great. stuart: well you're young. thank you, susan. we'll show you video, i'm sure you remember it. passengers tossed around on the strikeky sky. that is the name of the cruise ship. is lost engine power, sailed into a storm off the coast of norway. that is the result. you know what this means? class-action lawsuit. ashley: that looks like fun. stuart: joining us the lawyer

representing those people on board the ship. his clients. michael welcome to the show. good to see you, sir, you know where i'm coming from. you know, come on, you know. >> good morning, stuart. stuart: come on, i've seen these class action lawsuits before. we all know what happens. the plaintiffs get a discount ticket for a future cruise and you, the lawyers get the cash? is that how it is going to work out this time? >> that already happened. the ceo of viking ocean already offered them a complete refund and future cruise of whatever cruise they wanted. he invited them on a cruise with him. no, that is not what we're looking for, stuart, full compensation for sheer terror 1000 passengers, many whom were older folks, this is the not all what they bargained for. can you imagine being right up the coast of norway you have to be taken by helicopter by the equivalent of coast guard, putting a harness under your arms? to me i would certainly think that is worth a lot more than a free cruise. stuart: was it the crews line's

fault? >> absolutely. stuart: why? >> absolutely. here is your best answer. so there is two-ferry services. one runs north, one runs south directly up coast of norway, known to be one of the most dangerous spots. those two-ferry captains didn't sail that day. you know why they didn't sail that day? because putting passengers in the risk. that shows negligent on the part of viking ocean. stuart: i thought they got stuck because ran out of engine power. i guess you could say that, but hardly a vicious move, is it? >> i'm not saying it is vicious. i think we could compare it to other mass tort actions my firm successfully represented. "anthem of the seas" where they intentionally, knowingly sailed into a storm. i don't think they were looking to put their passengers in harm but the preliminary reports from norwegian maritime authority say there was reason with oil levels. but the oil level problem occurred because the rough seas.

because of the listing of the ship, it affect the oil gauges which set off an automatic alarm which killed the engines and they don't get them on line. i don't think they intentionally wanted to harm the people at all. they played with the people's lives. the passengers who retained firm and i, they were terrified. it is a terrifying experience. most of your viewers are similar demographic to the folks that go on the cruise. put yourself in the situation what you think would be fair compensation. stuart: so what do you think is the compensation per passenger for the terror which they experienced? how much are you asking for? >> well the initial complaint asked for 10 million at this point. you have to look on case-by-case basis. as an example, one married couple who retained us, the wife had broken ribs. the husband is still in the hospital. he badly hurt his back. he ended up having a terrible infection. he ended up getting a take tube

down his throat. it has been a real disaster. he will be in the hospital for foreseeable future. there are very different amounts of recovery those persons should be entitled to. stuart: did you say $10 million each or the sum -- go ahead. >> that is the initial demand. when you file a complaint you ask for, state an initial demand in the complaint. we've asked for 10 million at this point that would be global for everybody who was on the ship. stuart: michael, thanks very much for being with us this morning. i didn't mean to be pejorative, you get the cash, they get the discounts. we'll see how it works out, okay. >> stuart, no problem. i appreciate it. i always love coming on your show. stuart: yes you do. of michael, we'll see you again soon. >> thank you. stuart: nigel farage, he will give us his take on migration as mr. trump announces his plans for a merit-based immigration system in america. lyft and uber drivers striking in some cities today. what does "bar rescue"'s jon

taffer make of that? after all the barred business needs ride-sharing services to take their patrons home. he has a view on this. look, these are pictures from an old steam train, we'll show it to you i promise. the union pacific big boy. our reporter jeff flock is on board. i remember those trains. ashley: oh, yes, we have nostalgia for them. we'll be right back. ♪ i'm working to keep the fire going

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stuart: i'm going to tell you now, it's a go nowhere market. i'm surprised at that given the

china news. we're down three points on the dow jones industrial average. okay, let's talk digital ad revenue. it is frankly huge. susan: it is huge. stuart: what is it, 100 billion? susan: for the first time, right. stuart: a year? susan: right. up 122% since last year. surging into the triple digits. stuart: let me stop you. $100 billion, revenue coming into mainly to facebook and google. susan: they account for 50%. search ads account for 50% of digital ad revenues. stuart: because of digital ads that appear on their website? susan: that is up as well from 40 billion last year so it is increasing a lot. that surpasses by the way, tv ad revenue at 71 billion. stuart: by a long way. susan: you're making 30 billion more in digital era, right? social medias has increased 31%

in 2018 compared to 2017. social media, when you advertise on instagram and whatsapp and facebook. ashley: remarkable. susan: mobile passed desktop in 2016 is. mobile capturing 65% of the ad revenues. stuart: i didn't see it coming. didn't see it coming. thank you, susan. still to come, jon taffer the guy with "bar rescue," what does he think of uber and lyft drivers striking in some cities? not good for the bar business, getting inebriated passengers home. he has input. also ahead, a college education can mean years of student loan debt? is it worth the money? we'll find out whether it is still a smart investment on this program today. brad, i've got an idea for a song.

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♪ stuart: i do like this one. i love the harmony on this one. i don't know the next line. susan: neither do i. stuart: meter made, nothing can come between us. there you go. check the big board, we're down 20 points. frankly surprised at that earlier this morning we found out why president trump imposed or was going to impose the big tariffs. the chinese reneged on all of the agreement which we spent months working towards. they said no, we reneged on it. we have breaking news the house judiciary committee is about to vote on holding attorney general barr in contempt of congress. they're about to vote on that.

there is another item here, we've got president trump exercising executive privilege over the mueller report. that means he will not allow the unredaction of items in that report. in other words, they're sealed, they're private, they're closed by law. they will stay that way. that is according to the president. a lot going on politically. 10:30 eastern time. it's a wednesday morning i guess. yeah it is morning. that means we've got the latest on how much oil we've got in storage. this could affect the price. what have you got? ashley: down 3.6, 3.96 million. we're expecting a build of 1.2 million. don't forget we had a massive build last week of 10 million barrels. now we're taking out more oil. we're down nearly four million barrels in -- stuart: why the price of oil has gone up. we're still $61 a barrel. those numbers didn't make that much difference.

okay. this year marks the 150th anniversary of the transcontinental railroad. bet you didn't know that. what did we do? we put jeff flock on a union pacific train, retracing the old route. what have you got for us, jeff? go. ashley: [laughter]. stuart: hey, jeff, you're on. reporter: stuart, i don't know if you can hear me. i have the most incredible, i can't hear you, i have the most incredible job in the network today. look at this train. take a look back there. this is the union pacific train commemorating the 150th anniversary of the transcontinental railroad. you thought the internet was a big deal? hal, look around the other way. we're cutting through a pass here. the transcontinental railroad puts the internet to shame. if we come inside of the cab, kyle, come on back in, if you can. i want to show you the scene inside the cab here.

we've got, you've got fireman over here. that is austin. he is fireman. that is ed over here. he is the engineer. he led the team that has put this thing back in service. there only eight of these big boys that remain. this is the only one that is functioning. they put it back together, got it back on the rails. by the way, look at fire coming out of there. this is oil fire burner. i tell you, people have been watching us all along the way, i don't know if we go back outside, if we can see some of the people. can you see, kyle, out there? >> there are people along the route watching us. look at this country. isn't this incredible. this is the ironhorse. this is what the transcontinental railroad is what connected the country together back in the 1800s, when you had the industrialized east connecting with the developing west. it is breath taking out here. wish you were hear.

i can't hear you. stuart: we hear you. we got to go. jeff, thank you very much. i remember that transcontinental railway. very well indeed. i seriously do. that is nostalgia for you. we brought it right on the screens. want to talk lyft and uber. some drivers in some cities are going on strike today. they want more money. they want better conditions and some want unionization. i want to bring in jon taffer on this, he is the host of "bar rescue," okay? now you've got a stake in this because bars need uber and lyft to get their inebriated passengers home safely. what is your angle, going on with uber and lyft? >> that is interesting, stuart. it uber is a disrupting business. it disrupted taxi business and limousine business. people originally came to drive for uber because it was convenient, it was easy. they could do it part-time.

they were independent contractors. that was extra money on the side. that was the premises uber started with. cities like new york instituted $17.22 minimum way for them after expenses, stuart. this is after fuel and other expenses. it upped their profits by about 22.5%. so they're making a good living. but this was never viewed as an employee position, with job stability and certain factors that the drivers are looking for. so it's a big change in the way the relationship with uber and driver began. stuart: i hope it does not change the basic business model of these ride-sharing companies. i don't think it does. i don't think it goes that far. there is risk of that. if you change the basic business model you interrupted this brand new technology? >> i completely agree, stuart. the ipo is couple days away,

what, 91 billion? this is an opportunity for its drivers to create a little noise. this is a little window of opportunity. they will try to leverage it and i get that. this is important function. it is really key element to our transportation system. i'm guessing prices might go up a little. we'll still be ordering the uber cars next year. stuart: yes, we shall. jon, i follow you closely. i notice you have a new show. i don't know what you're doing with this, "marriage rescue"? you want to explain yourself, lad? >> "marriage rescue." i'm very excited about it. we shot six episodes. i take a couple to a five-star resort for 4:00 days. i have four days to turn the relationship around. you know i'm direct. unlike a therapist, they are not coming back. i don't have to be nice, but very direct, confrontational. i was pretty darn effective with

the couples. stuart: success to you is bringing them back together? >> absolutely. whether it is "bar rescue" or "marriage rescue" it comes down to individual accountability, doesn't it? stuart: whatever you say, jon, whatever you say. i will watch. the premise is pretty good. i will watch the show. "marriage rescue" from jon taffer. see you soon. bernie sanders, he continues his medicare for all pitch to voters. as we reported before, even "the washington post" says such a system does not exist. scott flanders is with us. now he is the ceo of e-health, a very successful company. we'll get to that in a second but i want to know what you think about medicare for all. have at it. >> we already have medicare eligibility for 60 million americans. 36 million of them have already voted with their feet and bought private medicare insurance. medicare advantage, medicare supplement. so we already have medicare for very large segment of the

country and they prefer the private solution. it has better economic outcomes, it has better clinical outcomes for the patient. stuart: so medicare for all as bernie sanders puts it, you don't think that is a starter? >> well let's start -- stuart: it is wrong to even try that? >> well it's wrong to try it but it is also politically non-viable for the following reason. there are 160 million americans with employer sponsored health care. they are voters. what do you think the voting prospects of a candidate for president who says, to 160 million americans satisfied with their health care, we would like to take your health care away. no we're going to legally require to you take your health care away. we're going to give you this government system of which 60% are already moving to a private alternative? stuart: i think you made your point rather well there actually. >> it is not happening earnings it is not happening. not a good voter appeal. you're the ceo of ehealth.

as i understand it. that is a marketplace to buy insurance online. that is what you do? >> absolutely. we help the consumer shop, compare and transact just like expedia does for travel or cillo does for house hunting. stuart: i have your stock on the screen. last time you were on the show, i don't know when it was -- >> january of last year. stuart: january of last year. you're looking about 15 months ago. >> yes. stuart: your stock was at 12. now you're at 60. >> yes. stuart: i take it you're highly profitable? >> yes, we are. stuart: do you take a piece out of all insurance plans you match up with people? >> right. we get paid by the insurance companies, the consumer pays the same price for medicare if they come to us or they come to the health carrier. with us they're assured of getting in the right plan. stuart: how do i judge one plan to another? >> that is the job we do for you. stuart: they're incredibly complicated. >> that is why we exist. that is what we do, seriously. we are here to make it easy for you to get into the right plan. right now only one out of 10

seniors are in the exact right medicare plan for themselves. stuart: okay. you've gone from 12 to 63. i think you've done rather well. >> well, thank you. stuart: come back to see us in another 15 months. let's see where you are there. scott, thanks for joining us. >> thanks, stuart. stuart: we'll talk immigration shortly with nigel farage. what does he think about a merit-based immigration system for united states? he has a big angle on that. he is in european immigration. he knows all about that. jimmy garoppolo, star quarterback for the 49ers, he is here to advocate for the trade industry, putting people into trades, not college, not professions, trades. he says people should consider this. as a career. we'll be right back. ♪

stuart: happening now, house judiciary committee is about to vote on holding attorney general william barr in contempt of congress i believe. i want to give you some background hire, because big political storm brewing here in washington. ashley: yes. stuart: you're looking at part of it right now. the president has said he is going to exert executive privilege over the mueller report. my interpretation of that is, hey, you in congress? you cannot see the report in its total entirety including the redacted parts. you will not see that. ashley: republicans offered an olive branch, look we'll show you a less redacted version, allow more people on the judiciary and the finance and the judiciary department to look at it. the democrats said, we want the whole thing and in its entirety. house financial services committee chairwoman, democrats plan to read the mueller report on the floor. which you know, let's be clear,

you have grand jury testimony in there, by law you cannot make that public. stuart: got it. now the democrats also want all of the underlying evidence that was in the mueller report. ashley: correct. stuart: the president says no. you can't have that. ashley: right. susan: grand jury testimony. a lot of sensitive information. stuart: if they did get that information, have all the stuff, they would simply retry the mueller report. ashley: which is what this is all about, that is what it is all about. after we retry it or don't we. susan: there wasn't that much redacted. only 5% of the mueller report. stuart: true. totally different subject, here we go. let away from toxic politics, shall we? student loan debt, what is it, $1.5 trillion. that is huge and begs the question. is college too expensive? should we take out that kind of investment? jessica brown is with us. she is the founder of something called college girl. jessica, you helped students find ways to pay for college.

that's what you do, right? >> yes that is correct. stuart: have you ever told a student, hey, you can't afford it, don't go? >> no, i have never told a student you can't afford it, don't go. there are so many financially feasible options like community colleges that people can afford. stuart: have you ever said to any student, college is not for you? >> yes. i have said to some students that college is not for you. a college is not for everybody. there are some other different fields and industries that people can be a part of. therefore, it really just depends what your career goals are to see if maybe college is the best option for you. stuart: you would never say to somebody, don't go, it is not for you because your job is to get them in somehow or other? that is what you do, right? >> yes, my job was to get them in. however, there are some people that have many different situations that kind of hinders their education. sometimes people do have to take time off, to make sure they're

making the best financial decisions for them. so i do try to turn them to community college. if not, take a step back, try to focus on the career goals. try to resign up for college. stuart: ever since i lived in america, i have been here over 40 years the ethic has been go to college. you want to get a decent job, everybody should go to college. do you agree with that? >> i do believe everybody should have some form of a solid foundation, education is the key to life. however, college is not for everybody. so it really all depends on where the person is really trying to go in their personal life as well as their professional career. stuart: am i right in saying that you have got access to what is it, $100 million worth of college scholarships handed out each year. that's part of your program, getting people into these scholarships, am i right? >> yes. every year over 100 million-dollars of scholarship money goes unclaimed

annually. it is important for me as college gurl to help families offset educational expenses, to make sure think find the opportunities, to minimize the potential debt after graduation. stuart: did you work with us at fox? >> yes i did. i was actually an intern in 2010 here in the same studio. so it is, so great to be back. and the internship came with a scholarship. so i would encourage college students if you're looking for internships with professional experiences make sure they come with funding to help your college. stuart: that is terrific. welcome back. good to see you again. college gurl, jessica brown. thanks for being with us. >> thank you so much for having me. stuart: sure thing. you're trying to get a lyft or uber car you might have some trouble depending where you live. drivers in some cities are on strike. lyft's stock as you can see down 3 1/2% right now. back to $57 a share. it went public a couple weeks ago at 72.

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stuart: depit the at that mult

voice news on china trade looks like impose the tariffs. looks like it was china's fault that the president insisted on imposing tariffs. that is the news background. despite that, we're up 11 points on the dow jones industrial average. go nowhere despite the news. president trump's immigration plan, three main points. here they are. number one, you end chain migration. two, end the visa lottery system. and three, shift to a merit-based immigration system. i want nigel farage in on this one, because, nigel, back in 2015, in europe, you were dealing with open borders. i don't think you dealt with it very well. how do you look at president trump's dealing with open borders? from my perspective absolutely right. there is one issue right across the western world, that governments, the political class, mainstream media, where they do not get where public opinion is and it is always on

the subject of immigration. oh, we mus'nt say anything, nasty, about immigration otherwise they will think we're bad people and you know most citizens in western countries are in favor of immigration provided that it is controlled in up number and provided people come in are the right people. i look at trump's plan. you know what i think? australia. australia is a country that has been built, a modern country built through immigration. but what they do, stuart, every year, is they have quotas according to what skills and trades they need to make australia a better country. they don't give out free health care or benefits to anyone who has not been there, pay taxes and obeyed the law. they make sure that nobody with criminal records can go there. and they always want to know, if you're coming to australia, either you speak our language, or you show a commitment to learn our language and to

integrate. to think in the 21st century that america still has a lottery system for getting in shows you that trump is much more in touch with middle america than most people sitting in congress. stuart: there are elections coming up for the european parliament. i don't think that is of great interest to our viewers but it is of great interest to you. >> yeah. stuart: is it possible, that immigration will be the big subject of these elections? and is it also possible that populists, parties such as yours, will achieve such a standing in that parliament you can really break up the european union? could we be seeing that? >> i think that in terms of the rest of europe, immigration and the massive mistake made by mrs. merkel saying you know, please everyone that wants to come, come, will dominate those european elections. indeed that subject dominates the referendum here in the uk. we're fighting the european

elections here in the uk. why? because we did not leave on march the 29th despite our prime minister and government promising us we did. thing issue will be democracy because promise has not been kept. all i can tell you here in the uk i four weeks ago set up a brand new party called the brexit party. we're topping the polls. believe me, on may 23rd, my party will win here in the united kingdom and you're going to see a more euro skeptic, european parliament than you have ever seen. the globalist project to take away national democracy, to replace it with unelected bureaucrats, be they in brussels or washington or elsewhere, the fight back is on. in the end the nation-state and common sense will win. stuart: if the british stock market were still open, i don't think it is, you would have taken it down a couple

percentage points, right there, nigel. >> this is a ridiculous idea that somehow the uk is better off inside of the european union's single market which gives us expensive energy, overregulates us, stops us doing our free trade deals. i tell you what. the day when we do, leave the european union, and all the pessimists say, isn't it terrible, and pound fall as couple points, that is the day you fill your boots. stuart: reminds me of the day president trump won the election. nigel, you're all right. we'll see you again soon. good luck in the elections, sir. >> thank you very much. stuart: if you're running for public office the last thing you probably want to do is slam america. but that is not what the democrats are thinking. that is what the democrats are doing. my take on that top of the hour. here we go. ♪

♪

mike is with us a man who knows a few things about business. you are very much plugged into small business, what would happen to small business in america, if you are doing really well if we rollback the tax packages. >> it would be a disaster, when we moved back to our hometown of jasper, she is still running a business she has had for 41 years, minus 38 years old we are the largest or second-largest small business that is still a member of the national federation of independent business. all i can tell you about the long stretch, never has there been so conducive that owning and running a small business is

entrances which we had since 2016. if you rollback that, stu, and go back to what it started in the clinton years, some even continued through the bush years, it was driven home in the biggest way during obama's turn after turn, it's mediocrity, its advocates enterprise, and it would be the worst possible thing for small business and i speak as an authority on it today been when my entire career. stuart: what you frequently hear is a tax package from president trump was a giveaway to the rich, a giveaway to big corporations, and we did not feel it. how do you feel about that? >> even for lower income earners there has been an average of at least a thousand if not more per family and tax benefits. the only places that have had that participation would be high property tax states and state and local tax states like california, they might have an argument but that is because

they tax the folks so heavily anyway. there is never been a better atmosphere because when tax reform went there, small business is the driver of new jobs, almost all the new ones are housed there, not big companies. i was so happy to see that we had a few people here that shepherded tax reform where it would benefit llcs and sub s is where most of the jobs are created, it looked like as usual, only big companies rc corpse are going to benefit. thank goodness we set the stage and the results are real. we cannot get out of a 1.5% of growth coming out of a deep recession, those numbers should've been double or triple that. we did not do it until the tax reform and job that came through 17. stuart: it's always a pleasure to have a business guy on the

show because this is a business program. we stayed there for a second i'm going to get back to you in just a moment. stuart: i'm going to check the market because we have seen problem in the last few minutes. we wanted the latest on china trade for you, president trump says china is coming here to make a trade deal. there is a new report that says on friday china sent a message to the white house, they want to backtrack on every aspect of a deal that they don't even agree to. then the president treated out that china is coming over this week to make a deal. maybe that is why a little bit of optimism, maybe that's why we are up 100 points asked to speak. it shot straight up. any bright ideas on this customer. >> boy what a turnaround. i thought the markets were going to suffer today because of what is happening. but there is an interesting trend going on right now. manufacturers are moving out of china into vietnam, indonesia, malaysia. we're talking lg, samsung, philips, pickett tron which symbols iphones. moving intel and moving away from china giving the trade fight and higher cut under cost

into higher places in asia that manufactured. stuart: there protecting the supply chain. >> that's right. >> there will be tariffs imposed. there is a trade war. that is why we are up 107-point. >> exactly. stuart: we are up hundred and ten. sarah sanders reportedly made some comments about china trade which implied some optimism i'm going to find out for you, but apparently those comments from sarah sanders, the white house expert fo.we are up 115 points. sarah sanders said, we have received an indication that china wants to make a deal. an indication that china wants to make a deal. i am glad we are on top of this

because it has moved the market. now we are up 120 points, we are up and running. i want to bring in my, what you make of this customer we are all over the place uncovering china trade. we need to be optimistic that a deal could happen? >> i am glad to hear that, when businesses went to china in the first place, it was extreme cost savings, and went through heavily, you were not hedging your facts, you are still dealing with an autocratic political system. with the whole negotiation with china has done, businesses not have all their eggs in the chinese basket because it is not healthy. that is even a better sign that we will get something done with china and look what just taking them on has done. that dynamic was occurring before president trump had the nerve to experience some short-term pain for long-term gain. and that's a way we can hedge your bets if companies have put a lot of stake into the chinese

economy, go places, where there is better behavior. that will keep the chinese put to deliver the rules. stuart: i'm glad we had drawn the spot today. perfect timing for what is going on. always appreciate you being with us. good to see you. >> thanks for having me. stuart: let's get back to this. show me again the dow industrials please because, show me the place, we are up 106.3 it was all doom and gloom but all it would take would be an indication that things are getting back on track and immediately respond. the issue here is that china was trying to reverse its pledges, we wanted binding legal agreements in china said you should trust us, like houser and mnuchin said no way, we've been down that road before. we went legally binding agreements.

that has been the core of this. maybe china will be more willing, we will have to see. on friday they were named on that, they moved away, now you have sarah sanders saying, we have received indication that china wants to make a deal. let's see what kind of deal, that is the key. now we are up 80 points. aren't you glad you're watching the show. [laughter] what is going on here. i'm going to give you a life look at the lighthouse is a very busy day for president trump to hold a cabinet meeting in the next hour if they spray the room with the camera we might get some quotes from the present you can never resist speaking to a like a microphone. what is done with a cabinet meeting, he is off to florida for hurricane damage areas then he holds a big rally in panama city beach that is tonight. we will preview the rally with the mayor of panama beach later this hour.

let's move on. the drugmaker, novartis about to release a new treatment for deadly disease infecting a defense. it's been ill as a miracle drug here's the catch, the price tag, just wait till you hear how much it cost. we will tell you. next, big-name, san francisco 49ers quarterback is behind a big push to get more high school seniors to skip college and become train worker, steelworker in the trade. i want to know what he thanks about soccer is going popular over here as well. we are finally getting started.

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stuart: yes he did it, that is openface, no-hitter last night, that is quite an achievement you know. it is his second no-hitter, the last one was 2015, he has to under his belt. good man. look at this, now we have got a triple digit gain for the dow industrials, of 101 points. give me a one line explanation anybody. >> i think it sarah sanders indicated that the deal is still in the works. stuart: china wants to do a deal. sarah sanders white house spokesperson says earlier, a few minutes ago she said we have indication that china wants to do a deal. that was enough to turn the market around completely. now we are up 107 points,

yesterday we were down 474, this morning we were down because it look like we're going to oppose those tariffs, it still does. i didn't look like read any trade deal at all. >> same the door and get out the nail gun. the market going haywire. stuart: a statement from sarah sanders indicating that the chinese might be working towards india, up she goes. 106-point back above the 26000 level. look at the nasdaq, that's up nearly half percent. that is the turnaround on the one statement. that's all it takes. does the little optimism on trade and look what you get. how about that. what is next, i don't know.. stuart: let's do it over and left. some of their drivers are striking in some cities around the country jackie highridge

right outside, nevermind we don't have her. [laughter] here is the bottom line folks, who were and lift drivers some on strike in some cities, some want unionization, that is not doing much good to lift stock the billion-dollar loss now there are facing a strike, that would prove the profitability whenever they get that in the stock market went down $4.50. heinrich has been found. she is outside cooper's longline. >> what is going on, their protests like this one happening in at least ten major cities across the country, over in los angeles that has affected a full 24 hours ahead of uber's initial

public stock green. we get to the largest in history, in new york, drivers passed over the brooklyn bridge with repossession attached to their cars, and then they rallied in front of a building for uber and lyft our headquarter. new york city said members voted not to drive between the hours of seven and 9:00 a.m. right in the middle of the morning commute, they want better pay and more job security saying, the the race affair for writers, but they don't have the money onto the drivers. there occasionally they activated without warning essentially being fired with no recourse. we had a soundbite from one of the rally folks, we will get back to you later. uber responded to this rally with the statement, it reads in part, more consistent earnings, stronger insurance protection or

bully protection for full full-time drivers and employees. uber's valuation by the way could be as high as $91 billion when she begins and when lyft went public back in march right chair drivers also went on drivestrike that time. stuart: thank you so much for being with us, you're an important spot right now. remember this. kim kardashian visited the white house last september pushed president trump to sign the first step. it seems to be working, in the past three months kim and her legal team have helped 70 people each serving life sentences from low-level drug offenses. with the latest numbers on how much of the emerging american spends on nonessential items each month. the number may surprise you, we will tell you what it is after this. ♪

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that we were telling our sisters. >> is a unique opportunity. different than what the normal passages for canales, just going to college and not knowing what they're going to do, and a after that. the skills usa and put together the national signing day where it is a different opportunity, to set them on a path sooner than college. tony, you are the got here, i think you are an electrician right? did you tell jimmy to go to college? or go to trade? >> absolutely. i told all of her kids, college was way to go and i think society in general at the time,

everything was geared toward college and it was like if it did not work out you can fall back in the trade. with skills inclined getting together for this opportunity it is giving kids, not to say don't go to college, it's an opportunity, as an alternative to college, there is other path than just college itself. stuart: there is something like 600,000 jobs per skilled tradespeople in america. you're trying to fill those jobs, with people fresh out of high school how's it going customer. >> you know, it's kind of one of those things, jobs will always be there. we will always need electricians, firefighters, whatever it is, and without those people and doing those trades and jobs, we would not have life to life football

field. it's things like that the going notice, but jobs will always be needed to be filled. the national signing day is important. stuart: i do want to ask you about your teammate. the closer, as i understand it, he deleted a lot of croak trump tweets before he was drafted. now he will play for the 49ers on your team, do you think there will be any issues about his politics? >> not in the locker room, those types of things are even discuss, the locker room, once you get into the facility is all about football and being a good teammate and putting the team first. nick is a good guy, i got the opportunity to meet him for a second when he first got drafted, and we will bring him along district. stuart: i want to ask your question, and i know you're not expecting the spell ask anyway. are either of you gentlemen, wait for, either of you, are you aware of a very important football game, soccer game that

was played yesterday between liverpool and barcelona question are you aware of this game? >> i think i've heard of it. [laughter] >> that was a stinky little move to pull at the end. it was pretty clever. stuart: so you do follow it. i have new respect jimmy garoppolo. >> i play a little xbox. stuart: you have to agree with me, that's one of the greatest comebacks of all time, one of the gripping games of any kind that i have ever seen. i think your son is having trouble, answer the question, is soccer going to take over from football? >> not in the u.s. stuart: i think you're right. good luck with the idea of putting youngsters into trade, i am all for that, it is a very good idea, we are impressed with the effort you are making here.

, jimmy and tony thanks for joining us. we appreciate. stuart: thank you for having us. >> thank you. stuart: we have a tweet from the president, nonstop action. great news for ohio, just vote for mary barrick, who had a uaw agreement, et cetera, gm will be selling their plant to row cost where they plan to build metric trucks, gm will also be spending $700 million in ohio in three separate locations creating another 450 jobs. i have been working nicely with gm to get this done. thank you to mary b, your great governor and senator with all the companies coming back and much more, the usa is booming excavatio.it is up 11 cents anda share. but that big news from general

motors and the president. we have still got a modest upside move further down the dexterous, we are up 71 points, we have been all over the place today. up 76 at just above the 26000 level. i've got the sound from sarah sanders, what she said earlier about china trade. rotate >> we have indications they want to make a deal, our teams are in continued negotiation, they are going to sit down tomorrow and we will see what happens from there. stuart: we will sit down tomorrow and see what happens there. an optimistic note on china trade. despite the overwhelming negativity before that. it was enough to turn the doubt around, we were down 20 now we are up 85, massive storm system sweeping through texas.

water imparts surrounding houston who have already been hit. floodwaters have stranded cars, passengers, local police have used red ski vote to get there. houston the places around more storms later this week. houston taken on the chin. new report from the national association of homebuilders, homebuilding in the midwest on the decline. i want to know why. jerry howard, just the man to answer the questions. what is happening in the midwest. >> the economy, quite simply the trade war right now with china has agriculture decline in the policies in the urban area say the finance and baking and insurance economy is down, employment is down, the economy is down, housings down. stuart: i did not know the midwest was hurting. >> 's temporary and agriculture just like you, i am confident

the president will get the china trade talks underway, i think we can get the mexico candidate agreement through congress. stuart: it's mostly the agricultural sector that is hurting. for get a rebound in manufacturing but the four people are suffering. >> we will rebound in manufacturing, but the midwest is not as strong and other u.s. manufacturing centers. there are state and local policies that are counterproductive to growth. stuart: home building is in decline, can you put some numbers on the ? >> stocks are down 20% year-over-year in the midwestern region. stuart: how about the south? >> the south is up i want to say 6% to 8%. see what is that population shift? >> population shift the economic growth. stuart: how about out west? >> the west has problems, there is huge growth in idaho, nevada, arizona, california is still in trouble. stuart: that is where the people are moving. >> i was down in texas outside

of dallas, corporations are relocating from california to texas not because they don't like the job marketing in california, but they cannot find a place for the employees to live affordable. stuart: a totally different question, i have been in america for 44 years now. throughout that time, the size of a new home, the home you were building was going on. i don't know what the advertise was at the turn-of-the-century, maybe 8000 square feet, but now i understand, the average size of a new home is coming down. is that accurate? >> it seems the new generation of homebuyers is willing to trade size for all the bells and whistles of smart houses in technology and helps. absolutely we are starting to see a definitive trend. it is not big yet, but depending on the cost, remember you and i talked about this, the cost of construction now in some parts of our country as much of 40% of the cost of the house. if it is smaller, the cost is

low, you could get technology and pay less for the house. stuart: i remember when i first came here, huge american houses, their tiny in england, huge in america. i found that people lived in the kitchen and one of the room and one bedroom, all the rest was vacant. stuart: the dining rooms are trending down, there trending away from living room and dining rooms, it just one big open open space. that is what they're doing for cost. stuart: how we got rid of the bonus room yet? i was leery of a bonus room, i don't want a bonus room. >> iso have three kids that live in my house with me, i need a little space. [laughter] stuart: the houses are getting smaller, they're getting more specteexpensive prescript to bun the midwest is in decline. we will have you back. your economic indicator did you know that ? >> thank you. [laughter] stuart: the latest on iran,

coming back to that on the program. they just announced that they are pulling out some aspects of the nuke deal, they want more uranian, secretary state mike pompeo he said the u.s. support iraqi government and putting the punks to iran is so to speak, scott. republican is with us now. his secretary pump failed visit to iraq and sending us fo a mese to iran ? >> absolutely, we are spending multiple messages for some of our navy and air force is and we want iran to be sure that we mean business with them and i must say, while iran is signaling that they are least interested in preparing to pull out a portion for the iran nuclear deal, i will wonder if we will get our cat piles of cash back? stuart: the odds are strongly

against that. so you know that. have you see this going ? let's suppose, i hate to be speculative, but iran is not going to soft peddle its terrorist activities around the world. what are we going to do about that? >> we are going to have to do what we always do, which is be the leader around the world and make sure that iran is punished for the malign activity and bring the coalition back together that the last administration will apart, but bring it back together and put the pressure on iran to start acting like a reasonable neighbor in any neighborhood. it will take time and energy, but this president and secretary of state has identified this as a priority from the region and around the world, you are seeing the beginnings of it, or at least the tangible beginning, and getting out of the rent in nuclear deal was the beginning and kind of setting the opening of the window of what is next, now you're seen the rest of the policies starting to come together.

stuart: the president has the full backing of the republican party i take it? >> absolutely. especially in this regard, there is no doubt, no matter what specter you're on, and the support of the church regime wants the democrats to impeach, it will cost more political division. what do you say, i don't think he wants to doesn't quite want to set that training motion. >> they are having these hearings in the judiciary committee which are impeachment hearings without formulae impeaching the president, they would have their cake and eat it too. if they thought they could get away with it they would've impeach the president, i expect many of her party believe that in their concert information is and after two years and $30 million et cetera et cetera,

the president did and what they accused him of doing and the american people know that, they wanted can continue on a ticket right to the edge and they might overplay the but make no doubt about it, they are trying to project on the president what they literally want to do, they want to impeach him and they are trained to blame him for their own impeachment which continues with the objective certainty of what is going on in washington, d.c. while there are so many big issues we need to be dealing with and could be dealing with but we are not. stuart: scott. , republican pennsylvania, thank you for joining us. in norma's price tag of one of their new drugs, when i say enormous, i mean enormous. >> its $2 million, a gene therapy drug for spinal muscular atrophy.

for children. stuart: that the cost of treatment? not just one pill or treatment, if the cost of treatment, $2 million. >> yeah, it's raising eyebrows. this is groundbreaking revolutionary gene therapy, children usually die before the age of two years old, if they have this muscle wasting disease. that is what it's recall. but now the critics are saying this is useless and no one can afford the price tag for the spill. the insurers also balk, they will not cover the price of the drug if they feel like that treatment is going to wait over time. it is showing success in trials. stuart: what a situation. stuart: is a tough situation for a young child to buy the price. who pays? how do we manage this? and why is it $2 million? it is all kinds of questions. their own interval.

which technology poses to. >> we are in the leading edge, and the leading stages of gene therapy. stuart: posey were on on it. what will we do. the gain has gone. we have 100-point rally, sarah sanders says chinese are indicating they are looking for a deal on trade, that the market of 100-point now we are up to 17. breaking news from walmart, is that what we have here ? put it up there please i need to read it. they just announced their raising the age to buy tobacco and e-cigarettes 221. they are not going to sell fruit and dessert waiver flavored e-ct all. twenty-one to buy any of these products. one of union pacific's steam trains built in the 40s, fully restored, you may have seen this earlier on the show, the steam train is an action working the 150th anniversary, the first transcontinental railroad, jeff flock is taking all right, here's another report.

>> look at this, look at this crowd, get out the window if you can, look at all these people. they have, to see this. we have been seeing this all along the way, all along the strip. this is history rolling through america right now. headed back to the very point where the transcontinental railroad came together, this is called echo, were in utah, look at this, is an incredible. the number of people out here. i will tell you, a lot of train lovers. incredible. look at that beautiful scene, that is what we have been seeing all morning. there you hear the iconic train whistle. up here in the camp. the guy that pulling the chain

is a guy that led the team that restored this. , i tell you, i wish you were here, he would appreciate this. stuart: i would. >> all the folks gathered to see it. stuart: terrific. i remember, i wrote steam trains when i was in england, that was before the electric current. it had a smell that was unique, huge engine, i loved it. we can tell you like it, you're a fan, we got that. democrat presidential candidate says america was never as great as advertised. i don't think that is going over 12 with voters, that is my opinion. alphabet chief, your privacy should not be a luxury, he is defending the way his company uses your personal data. steve helen's take on that after

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he said look, there is nothing wrong with america that can't be

fixed by what is right with america. you don't have to slag off america to point out it could be better. ashley: you're absolutely right. i remember bill clinton saying that. it was powerful and effective. that is the way it is. don't know whether you know this or not, we got the name of baby sussex okay? i'll tell you, i'll tell you. archie harrison mount batten windsor. what do you think? archie, not archie bald. mount batten is the great-uncle i correct? murdered by the ira, by the way. windsor is the last name of the royal family any way. archie harrison mount h mount batten windsor.

i wanted your reaction. good thinking on your feet, steve. next case, chief of google. sundar pichai, he has a new piece in the "times," privacy should not be alexis suri good. preaching privacy for everybody. do you trust the social network companies? >> you got right to the heart of it. trust. think periodically make the statements and big claims thousand they operate and it will be fine. we'll look after your data and time after time there are incidents their word can't be taken at face value. i don't think anyone will trust this. now they may make the bargain, look i kind of get my data is not safe. i assume all sorts of bad things are happening to it. i assume these days increasingly it could be hacked either by some other company or chinese government, whatever. but in exchange i do get useful services. so i make that bargain. i think that is really where

consumers are. i. >> would pay for email system that is totally private. i would pay for that. would you? >> yes. absolutely. and this is actually, the cynicism of this article is very interesting. because he is making the point that in order to keep it free for everyone, as a social good, a public good for the whole world. that is why we need to mine your data, target you with ads. this mission, this democratic mission to organize the world's information and give it to everyone for free. no one asked them to do that. they are not the government. that is the kind of mission of the public sector. they're a private company. they should actually, people should pay for those products. actually to give it away free to argue is anti-competitive. because it stops competitors coming in offering a different service. >> steve, we'll watch the show, "the next revolution" with steve hilton. sundays 9:00 eastern time on the

fox news channel. thank you very much indeed. i will repeat one more time, archie, harrison mount batten windsor, baby sussex. trips off the tongue. busy day for president trump. he is holding a meeting with his cabinet as of now. then he jumps on air force one, heads to florida. hurricane damaged areas. then a big maga style rally, panama city beach, that is trump country. we'll preview the rally with the mayor of panama city beach after this. ♪ ♪♪ ♪♪

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stuart: have survey for you. a website, ladder, we don't save much money. we spend a lot on non-essential items. here is the numbers. average person shells out $1497 per month on stuff, you don't really need. fancy restaurants. ashley: i need that. stuart: almost 18,000 bucks a year. that seems like a lot of money. what is essential, what's not? what is luxury, what's not. ashley: individual. stuart: drinking too much, that

is an essential. ashley: for me. stuart: president trump will head down to florida's panhandle today. he is looking at damage from hurricane michael and how we're getting over it. a campaign rally in panama city beach. the mayor of panama city beach is with us now. your honor, welcome to the show. good to see you again. i take it your town, your city is trump country. is that right? >> they have gone pretty heavy with him during this time. this is a very conservative part of the country. we appreciate the things that he has moving with conservative values and the business stuff, mainly is really got our town booming down here, but, to the west we're doing great. stuart: i would imagine this campaign rally tonight has a lot of advance publicity. i imagine a lot of people are heading to your town to come see him tonight?

do you know if they started lining up yet? how many people he might back into the rally? >> i drove through there last night at 9:30, there were already people lining up. i have been you are is priced how many people are out here already and moving down here. stuart: you went by 12 hours, 24 hours before the rally, they're lining up already. that really says something. before we go, sir, i have to ask you how is the recovery going from hurricane michael. >> well, the eastern part of our county took quite a beating and the counties and the city on that side are having to borrow money every day to make things work. the government holding up this paycheck is is really made it hard down here and difficult for some of the cities. on the beach, we've been fortunate. we're in good shape. we're up and running but to the east of me, the rest of my county is in horrible shape over there. they're looking forward to this visit, hope he bring as check.

stuart: mike thomas, the mayor. will you be at the rally tonight, sir? >> yes, sir. sure will. i'll tell you, it's important for somebody to come down here and look what we've got. and like i said, this is a very conservative part of the world. we appreciate he's done. stuart: he got 71% of the vote in your area. your honor, i think that is the correct term of address. thanks for being with us today. we'll see you tonight. good luck to you. >> thank you. come on down. stuart: i would like to do that, believe me i really would. more "varney" after this. ♪ your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.

stuart: two big stories a turnaround on the market after sarah sanders implied the chinese are here, they want to make a deal.

the other big story the baby's name is archie. ashley: big surprise. bookmakers didn't make the name. stuart: archie harrison mountbatten windsor. neil, it is yours. stuart: we're keeping our eyes on the crosscurrents of trade. that is is really going to dictate where we go today. there are good items on trade. we'll get into bad things on trade, depending on point of view. you know how it looks better a deal for china the better it looks for stocks. the worse it looks the worse it looks for stocks. among the thing that got buyers out this morning report that china wants to make a deal. sarah sanders echoing pretty much what the white house view is on this. comments from the chinese ministry, seems to put cold water, threatening