pelosi. stop referring to interventions because it's a slap in the face of any individual who has struggled with addiction. thank you. and thank you richard, jonah and liz. it's all about stuart varney with "varney & co.". stuart: let's not get carried away. good morning to you. >> the hours of you, i love it. stuart: never enough. good morning. britain's prime minister to resume stepping down in an emotional statement she acknowledged she has not been able to negotiate a better deal the parliament would agree to. she will still be by minister when president trump begins his state visit to britain on june 3. the two, however, have not been close. the book is to make boris johnson the odds on favorite to succeed herbert often described as the donald trump of britain he's more hardlines on the brits leaving europe. i wonder if he meets president trump on the state visit and how about a trade deal?

president trump's declassified documents relative the investigation of what went on in the election of 2016. that investigation will soon make headlines. what were hillary clinton, james comey, john brennan, james clapper and others, what were they up to? we find out. later today president leaves for japan and attends the investiture of the new emperor and discuss trade. japan is rolling out the red carpet for our president. it is friday and close out the week before the long holiday weekend the market has shown a small rebound down to 80 yesterday and the dow opens about 120 this morning. this is a headline driven market and investigators may be cautious today but who knows what tweets will appear this weekend. it is friday, may 24, "varney & company" is about to begin. logo logo ♪

>> never forget that compromise is not a dirty word, life depends on compromise. i do so with no ill will but with enormous and enduring gratitude to have had the opportunity to serve the country i love. stuart: there you have it. an emotional farewell. friendly, i wonder and i'm amazed at how long she lasted under the extraordinary pressu pressure. >> exhausting. stuart: she said she would step aside as leader of the conservative party june 7 but remain is by minister until a successor is chosen. joining us on the phone, nigel. nigel, brexit has taken out to prime minister's so how many more do you think? >> well, that's very good questions. on sunday night will get the results of the european election

but they were contested and the polls are showing the conservative party under teresa may will not even achieve 10% in those elections and where as the brexit party where i said six weeks ago today is projected to get 35%. in the millions, voters have deserted the conservative party. they want brexit delivered. this poses a big question so what ticket does boris johnson run on? will it be clear, unequivocal about the fact that we have to leave the eu this year and if he is, then well, maybe we can talk to and do business with but if not, i think, you could be witnessing the death of a political party that has dominated the uk for over 200 years. stuart: we leave it at that. good luck in the election still take place in the european parliament. get back to a soon about those results, nigel.

>> i sure will. stuart: see you soon. staying on britain, i want to bring in curtis was a former trade advisor about the trump campaign and will come to the show. >> is a likely or is it possible for the brits get involved in a treaty with the united states? 's peanut it is certainly like likely. yes, this is why i say that. hanging out or dangling the prospect of a trade agreement between great britain and the u.s. will accelerate the push for brexit and from the european union and obviously the uk cannot enter into a trade deal with u.s. as long as it's in the eu but by putting it out there we can do this and were ready to do this will then increase the pressure on the british side to actually make the brexit deal happen. stuart: if boris johnson becomes the next prime minister and it looks like he will be but if it's not him it'll be another brexit tear who wants out.

that is the way things are going so again i'm pressing here but what chance of the president trump really talking strongly about a trade deal with the brits and having them listen to us come june the third. >> don't be surprised if you hear it. remember what obama said, britain will be at the end of the cute with a trade deal with the u.s. expect the opposite from president trump. stuart: fascinating. ashley is with me on this but we both have british accents. >> or play them on tv. [laughter] stuart: that's right. >> things are changing quickly but the question is how can they get out of the eu as quickly as possible and whoever takes over will have the same problem that teresa may have had for the last three years to be one you got that right. gentlemen, hold on. i want to break away and consider our money this way. back to you in a second marketwatch, rebecca joins us now. rebecca, every time he appeared on this program in the last what, six, 12 months even relatively bullish but always saying the markets headed higher

but now, i believe, you are saying we will turn lower, is that correct? >> it is hard to face the headwinds with china and not expect pushback. we are expecting pushback, yes. stuart: would you reverse that call if we get a favorable tweet this weekend from the president or anytime in the next couple of weeks? >> it's funny, i watched the market yesterday and they talked about the press conference we went off are low and went quite a bit so we came off the low and today we have positive on the future but anytime he talks he's assuages these investors and comes waters is every thing will - he threw yahweh in there is a potential negotiate tactic which the market like so we just need to keep tweeting and talking and telling us every thing will be fine. >> this is a headline driven market. all asset classes respond to -

just the other day oil responded and the market is all the time. it is possible to get a tweet this weekend that changes things completely and it is possible, isn't it? >> yes, especially with the brexit thing and teresa may stepping down in the elections it's a lot of stuff going on geopolitically. stuart: i would neither sell nor buy on this friday. i do have one more for you. tesla had a real rough ride lately, model three problems among cash squeeze whole thing but i think again you liked tesla and you think that musk can pull it out of a hat. >> it's funny because when tesla could tweet it was the same thing now the fcc is basically puzzled him he has to figure out how to communicate effectively with his people without breaking fcc rules because when he tweeted that the stock went up or down potentially usually up because he tweeted positive things and obviously this thing with china and shanghai and

their major building with the model three and issues had headwinds and so we will have to figure out how musk can get his positive message out with breaking the rules. stuart: stock is around $200 a share with you by the 200? >> i think one time it's a bicycle but short term it will i would not do it for short-term gain. stuart: nerves of steel, rebecca. that's the way it is this friday. rebecca, thank you. it's been a week where the retailers have often taken it on the chin but have a look at blocker today. just out with their numbers. lower costs helped profits but the stock is down 10%. bad week for retail. ross stores, profit not quite the way wall street was thinking it was going to be but the stock is down 1.5%, 92. rough week for retail. president trump later on today means for japan and trade will be on the agenda.

back to curtis, our trade guy of the day. curtis, do we have a trade deal with japan at this moment? >> we don't have one at this moment. maybe britain will be second in line for a trade deal because japan will be first. stuart: is the president going over to sign something? >> no, but what he is doing is - he is strengthening our other special relationship. we had a special relationship with japan and they been a major trading partner and we want to get more of our agricultural goods into their market and we taken auto tariffs off the table so there's a lot of good signs going on and we have to remember this whole competition with china is about more than a trade war but also a national security component and who is our staunch ally in that region connect japan. that's what's going on behind the scenes. stuart: friendly relationship. >> absolutely. stuart: rolling out the red carpet.

>> not the first time he's been over there feeding the goldfish and everything. stuart: i want to sum up. your art guy on trade so you're saying the trade deal with the brits likely, probable. >> it will take time. stuart: okay. first in line is the trade deal with the japanese. >> not predicting when it will be fine but they are talking about it. it's a serious matter of consideration now. stuart: i find all this to be positive on trade. curtis, thank you indeed. not even mentioned china. tech futures are going up. we will have of 140, 150 points for the dow industrials. down to 80 yesterday. facebook stepping up its fight against big news and removing 2.2 billion fake accounts. is there any way to stop this problem, maybe so it doesn't recur in the future? points of view on that. north korea says it will not hold any more nuclear talks with america until we stop our quote,

unilateral demands for disarmament. looks like we're getting nowhere with kim jung-un. dead stop on denuclearization of north korea. president trump giving attorney general william bar the approval to declassify all documents on the surveillance of the 2016 campaign. is that a big deal? what will come out of it? headlines are in the make i am sure it "varney & co." just getting started. ♪

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stuart: president trump giving attorney general bar the authority to declassify documents related to the surveillance of trump's campaign in 2016. former deputy press secretary is with us. welcome back. good to see you again. would you like to speculate about what will come out and what documents are being declassified that will tell us what - go ahead, speculate. >> thank you for having me back on. good to see you again.

we don't necessarily know and i'm not going to take the liberty to speculate exactly about what may come of this declassification order but what we do know is if the fbi took a matter of this or a matter like this very seriously and wanted to get to the bottom of it they were not have likely approved one prize award. seems like there was a lot more surveillance spine whatever you call it going on and attorney general will get to the bottom of it. stuart: what's the big deal? if you are looking closely and declassify documents about why we were spied on or surveilled presidential campaign you get to that level and this is a very big deal. stuart: it absolutely is. remember the track record of the last cia director, john brennan, has been out there and critical of the president but has admitted to political spine by his own agency on u.s. senate

staffers and this was in regard to investigation they were doing but illegal spine which is the accusation is right now with the trump russia probe they have admitted to doing it in a different context of the notion that this is beyond the pale or something that isn't likely i don't think really adds up and we need to see the documents and understand what transpired here and what the full scope of this investigation is. stuart: can we wrap it up like this and say look, we may now find out what hillary, comay, mccabe, struck and all the other names which we are acquainted with all that, people we may now finally find out the truth what were they up to and this is the start. >> i think that is right. i think that is right. that's what the attorney general stated is his commitment and he's pretty serious about getting to the bottom of it. stuart: just as this may or may not come out and it will make

headlines, we also have the idea of impeachment going through congress. i want to show you a couple of pulls out recently that a harvard poll found 65% to not want congress to impeach the president with 65%. cbs poll shows 50%, democrats should stop their russia investigation. looks to me like there's no significant support for impeachment. what do you say you mac. >> that is right. the public is with the president here and the mueller report is exhaustive in over 40 pages and interviewed hundreds of individuals and one through 30 hours of testimony of the former white house counsel and it is exhaustive and the public has heard it and made their decision that is not compelling enough to invite impeachment articles. the house democrats are screaming from the rooftops

accusations and the public is starting to tune it out. they're getting more interested with a different poll you did not cite where it shows the majority of the public wants to see attorney general bar investigation of how this trump russia collusion matter began. they want to see that and see the findings of that and want to know how this whole collusion conspiracy began. stuart: fascinating stuff. great summer. thank you very much for joining us. see you soon. >> thank you for having me. stuart: take a look at features. here's how we opened today on the upside better than a 100-point game, down to 80 yesterday up over 100 this morning. driving to the "memorial day weekend. i want to see gas prices start to go down and i want them down. will he give me the good news that i want to hear before i hit the road? ashley: he better off back to be one will be back. you wouldn't accept an incomplete job

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go beyond the expected, to do the extraordinary. take your business beyond. it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. save $1,000 on the new queen sleep number 360 special edition smart bed, only $1,799. plus, 0% interest for 36 months. ends monday. sleep number. proven, quality sleep. stuart: on your screens now national average price for galleon of regular gas is $2.84. on your screens now the average - what is that? that's the most expensive gas.

$5.78 a gallon in essex, california, i'm not sure. the average in california, by the way, is $4.1 per gallon but that's california for the rest of the average $2.84. gas buddy guy, patrick, back with us now. national average, $2.84 and i'm pretty sure were headed down from here so how further down are we going? >> stuart, i think we can the average prices slip another five or 10 cents a gallon in the next couple of weeks. many of us saw the big drop in oil yesterday and i don't know if that degree of decline was to ground but relief is coming especially in california will be hard to find a $5.78 cents ahead that will disappear. stuart: i'm not looking for $5.78 a gallon. trust me on this one. you say may be - five or 10

cents a gallon down from the current $2.84 within a couple weeks. by the middle of june we might have an average around $2.75 so i'm not happy. i wanted to come down further. >> i wanted 99 cents a gallon but i live in reality as well. i love to get rid of that $5.78 california will seize the moment mostly. the rest of the nation, 275 in the month of june subject was happening between the u.s. and china trade is the drive oil prices back up if there's a deal. of course, watching the middle east and iran but stuart is not going to be relatively similar summer to what i saw last year but hopefully, not a lot of fireworks by july 4 but there could be some. stuart: patrick, bent right before and hope you're right this time. we always appreciate being on the show especially on the memorial day weekend here it is. i'll be out there driving my big gas guzzling suv. stuart: i will. >> outlook for you, stuart. stuart: enjoy your weekend.

futures, let's deal with that. open the market in five minutes and will be up 100 on the dow and a nice half percentage point gain for the nasdaq. bit of a comeback after a rocky couple of days. back in one moment.

can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.

stuart: were not coming to work in the morning in your city i often see homeless people on the streets and i think how much is the city going to spend on this problem. ashley, tell me. ashley: a ton of money, 3.2 billion. that is with ab. billion dollars a year. it's gotten out of control and the shelter costs alone have doubled to 1.9 billion in the average shelter publishing has gone up 6,000 in just the last five years and the homeless publishing could grow by another 5,000 in the next three years. you can't go too far in your city without scene is someone sleeping on the street or begging for food or money and it's become a very common site. stuart: the bill of build diblasio is in i was running for this presidency is in iowa and leaving the problem to deal with. [inaudible conversations]

stuart: coming up to the opening of trading on this friday morning right before the long holiday weekend. investors watch out and who knows what's going to happen over the long holiday weekend. president still has his twitter account going even though he is in japan. 9:30 a.m. eastern and we are often running on friday morning so how to be open? we opened up 6376, 81, 86, 88, 89 emma there you go, up 124. leave it at that. dow industrial is opening in the first few seconds with a gain of half percentage point. show me the s&p 500. i want the percentage there but up a half percentage points. show me the nasdaq. up two thirds of 1% and often up across the board and now show me that. 2.32%, i've got to say that is a

flight to safety ahead of the long we can. you don't know what's going to happen so what do you do put it in a safe treasury security. i think that's what is going on i'll take advice. david is here, john is here and deidra bolton is back with us and ashley webster. david, you first. let's deal with the teresa may leaving office in june. that's deal with that. any impact at all on our market. >> were not saying that but markets are taking it in stride this has been widely anticipated and everyone has been spy she's captured off the phone. still think they end up kicking the can down the road because you have to install a new primus or will give everyone time to work out a solution. stuart: wall street does not care. at this point we do not care. >> been going on for three years. stuart: what about the impact of teresa may leaving on our economy? >> with all due respect, stuart, the sun has set on the british empire a long time ago. [laughter]

i think it will have absolutely no impact, nothing discernible. stuart: let's move on. start of a long holiday weekend, monday the markets are closing and so how does a better approach a day like this because anything can happen over the long weekend. >> especially with twitter going strong. stuart: right, how investors do it connect. >> biggest rest is a tweet over the long weekend and volatility in the market but depends on your horizon what is interesting today is the bond market is going to safety but they don't want to be around over this long weekend for the stock investors are coming back in. stuart: i can see that. facebook, interesting story. i don't know how they do this but this book will remove 2.2 billion of what they call fake accounts. wouldn't it be true that they would pop right back up again connect. >> that's a problem. >> oddly enough, that number is equal to the number of official

users as well. what i will signal about that number is it's twice as many of the previous quarters of his book is certainly trying to identify this but the next challenge for facebook is identifying a speech. how do you identify it and how do you remove it and that's different than even what you're talking about which are these smaller ones which probably aren't harmful but more annoying. different categories of risk. stuart: take out 2.2 billion account of the stock goes up, $1.84. >> all about the revenue and basically facebook is saying over the last six months they've had to remove 1 billion accounts and they have active users and say what am i paying for? stuart: but i suppose so but the market thinks we don't care. $1.82. high of the morning. half minutes in and up 168 points on the dow industrial. now 171, two thirds of 1%. individual stocks moving, here we go.

been a rough week for retailers and the same is true with footlocker and they are earnings fell short and voicing concern about tariffs and how that could hurt future business. down it goes, 15% lower on footlocker. quickly the price of oil this morning, still at $58 a barrel, price of gold this morning something moving much more recently $12.87 and bitcoin where is it? $7,990 a coin. how about boeing? faa says they expect those macs just to be back in the air as early as next month. stock this morning 357 up $7 and i ask you this would passengers go back willingly on those planes connect that we've heard the ceo say he will personally be on the first few flights to try to restore confidence. stuart: okay. any input on this? >> will get on the planes of the alternative is being on the plane and a lot of people would

overlook this but some will be nervous. ashley: good news that boeing would be grounded to august but now that it's june is a much more positive development for boeing but to your question is very individual thing and some people look at the type of plane and change their bookings. stuart: positive and get them back in june and the stocks with $7 but 357 on boeing. mcdonald's interesting. not getting in to the meatless business. what do have to say about that? >> i think that's a mistake. there's a tremendous movement and isn't that one of their slogan, have it your way? the one if i make vegetarian or begin and i'm not either but if i was i would not go to mcdonald's anyway. >> but you might go in a car with other people who are going and doing a road trip and a big

gas guzzling suv and someone i want to stop at mcdonald's and i'm with you. give people a choice. >> mcdonald's eight there not commit this whole meatless search is sustainable but it is the right now but in the long run they are waiting but to david's point they are kind of, i think, there's solid gains being made in the segment and i think they probably may be forced into doing something's been especially for millennial's. big population that are meatle meatless. stuart: all those millennial's. [laughter] >> i came across a story and they are beginning to question the nutritional value of fake meat. although that could be fake ne news. [laughter] stuart: dangerous grounds. on a related note, i guess, uber eats is offering a subscription plan him a pay $10 a month and don't pay any delivery fees but you do need to pay for the food you order but what do you have on that? >> they are not offering yet but thinking about it. it takes a way that 15%

surcharge on your order every time you order to pay for their delivery. this is a great deal. $9.99 and if you order out a lot it gets brought to you save money. >> fabulous move. from an investing point of view, looking for a subscription revenue with a pay one higher - it ties into what wall street wants. >> and for divers occasion away from rides only. stuart: i'm told it's exclusive growth. >> but how do they make money? isn't uber making money or making a profit so how will they make money off of this? speed. >> uber eats is pretty successful. it's one thing they have over the competitor left. stuart: is in it the amazon model? show a profit but plow everything back into my keen your business much bigger and expanded. >> amazon, to be there, had great profits with aws and web service. stuart: but they do now but ten

years ago they did not. >> they've got that app on your phone now and you're starting to use the coursework car rides but where else can you go with that and go with all sorts of directions worldwide and it is brilliant. stuart: glad you agree with me. i should've bought uber at 38. i was going to. >> should have, could have, would have. [laughter] stuart: i like the story, too. google very quietly expanding in new york city. spending 600 million on building in the meatpacking district which is now a very fashionable and amazon made a big show of their plans to move to new york and got to basically rejected but google is keeping a low profile and coming to the city. >> more than 8,000 employees in new york city and will double in the next decade. stuart: fascinating. ashley: great fort new york. stuart: aoc likes google but does not like - [inaudible] >> google did not ask for money.

stuart: that makes all the difference. [laughter] >> smaller cities to this torturous to your process of humiliating themselves which they chose to do and it was bad pr at the end of the day. stuart: they will be welcomed with open arms. >> yeah, they did not ask for anything. >> lois on appointment sent vietnam war and the young people want to live in the city to go to where their workers are and it reflects the sellers market in terms of labor. stuart: has anyone told these rich young google's that they have to pay federal tax, estate tax, city tax and none of it . ashley: will find out soon enough and skyhigh rents, what. stuart: tech stocks, can we tech check them? they been hit hard this week and the china tariff story is a fallout and this morning they rebounded not much but they are all. apple, amazon, apple that, all on the upside.

any bargains on that list they are? >> not necessarily but some of the names are financially strong and have been around for a long time and i would not worry about them over the long run. when i think of high-technology and worried about are those smaller companies and we have a lot of small software companies that are offering these highly leveraged loans and that is where you will have problems the next time we have a credit crunch. stuart: on that screen, any bargains? >> the lower than the work but i'll put a good word for intel. they have the processors in just about everything nothing under the sun now, artificial intelligence and plus you're getting a dividend close to 2% so more downside protection but i would go with intel to play a rebound. stuart: interested in dividends i'm looking at facebook for they held talks to march is global currency with all the major trading houses and i think that's part of facebook's path this morning. stuart: well done, deirdre.

940 eastern time creeps right up on you. gentlemen, thank you for joining us. when you get to my age when you can't finish the sentence. stuart: up 150-point, 25,650 is where we are. he's best known for his role as cliff the mailman but did you know john has been in every toy story movie that pixar series is coming back and expected to be one of the year's biggest moneymakers and john is in it. he's on our show at our 11:00 o'clock hour in the studio, too. present leave for japan this morning and he speaks to reporters before getting on the plane you will see it here but he can really resist the temptation. i hope he does. next, north korea warning nuclear talks for america are over for the foreseeable future but so, what do we get out of

all those meetings between the president and kim jung-un? good question with the answer it, too. ♪

stuart: i think this is the high of the day and were up 105 points, not quite high but up there with 25,600 is where we are. now this. north korea says nuclear talks will not resume with the white house unless america changes quote, it's a unilateral position on disarmament. joining us now, christian, former state department - is this a failure of tom's foreign policy because these talks are at a standstill. >> no, it's not. it's happening now because the president is going to japan in a meeting with the minister and meet the new emperor there.

north korea is attempting to overshadow that with this announcement and is a big statement of posture on their part and back to the same old thing to get the disarmament they want securities in advance we learn from past experiences not to do that but to expect serious steps toward disarmament before there's any sections so that the same situation we are in now. stuart: i don't think we've got much out of the summit that the president held. >> north korea has not tested nuclear weapons at some time or long-range ballistic missiles which is the type of icbms that could hit north america in some time. you do have an opening for discussion that has not existed so if you compare it to his predecessors into obama and bush and others it is an improvement and implement on the situation but it's not perfect. stuart: do you think the north korea move is at the instigation of china which wants to tweak president trump a little? >> i think north korea wants to act out frankly the status quo

serves our interest because the situation is not becoming more dangerous wants to change the dynamic and ask up bring because it's conditioned over past u.s. and ministrations to be rewarded when it does act up in mccready statements and do crazy things. stuart: just seems like were not going anywhere with all this but all move on because as you know, christian, theresa may is going to step down as leader of the conservative party and later stepped down as prime minister. why are you so happy? stuart: i think. >> it's been unfortunate i think she's been talentless interposition but she inherited something and against brexit but took the job to implement it. as soon as it became clear the eu would be completely unreasonable she should have moved rapidly to pull or execute the will of the people and frankly, to think president trump up on his offer to allow the united kingdom to get to the front of the line in a free-trade agreement to permit the united kingdom from an important part of the european

economy to an important part of the world economy but to double down on that and she is failed and also has opened the door to basically a do over with brexit where they can come in and defy the will of the people. stuart: for the next permits are often favor is boris johnson and describes as england's trump and president trump is going to england on june 3rd it's a state visit and i have to believe that if boris becomes the prime minister and trumps over there for a meeting i have to believe they won't talk at some point about a trade deal and that's the silver lining in this whole thing. >> absolutely. this could be a detriment tremendous step up the stagnation for the european union and the euro which they never joined and johnson could be a great relationship improvement with the uk and perhaps unlike teresa may who

was against getting tougher on iran he could be more better but we keep the labor down in the european vote joe is what standing between corbin and - >> that's good. stuart: careful there. that might be. >> term of endearment. stuart: whatever you say. christian, thank you for joining us. see you soon. rally on our hands, let's to check the stock. dow 30, vast majority in the green but the dow is up 145 points. texas congressman where has a new bill that would defend sanctuary city's and has been tried before but did not work and what makes this one different? the congressman joined the next. did you know with vanishing deductible, you can earn $100 off your deductible

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stuart: 22 minutes and in the rally holds up half a percentage point, 135 points on the dow industrial. our next guest has a new bill to defend sanctuary city's like the cities on your screen right now. the courts have blocked

president trump from doing that but texas congressman is with us and he's the man with a new bill and will tell us while your bill will successfully defend the city's where others will not. >> pass sanctuary city bills have been so fitting in schools we punished by public hospitals and it was so extreme in a sense but this bill targets law-enforcement grants when you have a law enforcement leaders such as the sheriff of dallas county who recently had a failed attempt to defeat texas governor when she was sure she declared ellis county of ventura county and so what this bill would do is target those a specific law-enforcement grants because the idea of the federal government sending a police department money to enforce immigration and use that money on whatever especially flouting immigration laws is outrageous. stuart: what fires people up is the whole idea of any funding deliberately.

>> i agree totally. stuart: you will not do that or withdraw all the money but just some of the money. >> that's right. it's targeted toward grants 1% grants. all of this outrage in the past we've had to deal with because schools are being defunded or entire transportation budgets, this is not as extreme but targets the offenders. other thing it does is tells loggers and officers that are in the cities that are choosing to disobey their teeth or disobey their county judge or mayor and enforce them against loss that they will not be held liable and protected under federal law for enforcing federal immigration law even if there's a superiors tell him not to. stuart: i put to you any move again sanctuary city is of any kind even if it's water down will be opposed vigorously by every single democrat in-house? >> i shared a fox news article that came out yesterday about my bill on my facebook page and facebook were not even let me run an ad from my campaign

because it violated their policies. we've appealed in the last hour or 24 hours and been rejected. if you even talk about enforcing immigration law you are called to all kinds of names of people out our reach. it makes no sense to me. stuart: facebook will not allow you to put that on your facebook page? >> we have appealed and we are working on it but we see this from - i won't call it the fake news but the mainstream but cracking down on forcing or enforcing immigration laws is outrageous. stuart: i hope you get it through congress but i want to deal with one other issue as we got to hear. by the way, welcome. >> thank you for having me. stuart: texas should pay a larger role than new york but i want to pay the soundbite from democrat congressman lauren underwood as she is talking about the deaths of children at the border. just watch this. >> five kids that have died, 5,000 separated from their families, i feel like in the evidence is clear that this is

intentional. it's intentional the policy choice been made on purpose by this a ministration and is cruel and inhumane. stuart: you heard the outcry there and you can hear in the back of it that covers when accused the border people of murder, that's exactly what she was saying. we were outraged at that along with anybody else. your reaction. >> with the viewers may not have seen is the audible gasps in the room even on the democrat side and some of her democrat colleagues were outraged and shocked that she would say that and i wish i could say i was surprised that after having been in office for the last four months but nothing surprises me from the far left. this is another one of nancy pelosi's nightmares. she's been dealing with the far left that water to move forward for impeachment and then now this. if it is not this is intimate semitism and one issue after another and now she's got a freshman member calling homeland members murderers. stuart: congressman, thank you

for coming. come against. >> thank you. stuart: now, the left wants to impeach the president. put him on trial, remove him from office because he opposes a congressional subpoena. incredible. i think the democrats are blinded by hate and driven by contempt. that is my take on this situation. . .

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stuart: are we going to impeach the president? put him on trial? remove him from office? because he opposes a congressional subpoena? you know that is what it boils down to. the left says the president declared himself above the law. he is covering up. therefore he is impeachable. really? impeach because the president demands that his tax and business records remain private? i think that's a stretch. but that is where the democrats are headed. blinded i think by hatred and driven by contempt. think about this. trump derangement syndrome has so affected so-called progressives they will ask their colleagues to commit political

suicide. that's what it would be. all the house democrats who represent trump-leaning districts, moderate people, would have to cast their vote in full view of the tv cameras and their constituent. throw out the president because speaker pelosi thinks he is unfit for office. good luck with that. news flash, the company opposes impeachment. it's a new harvard "harris poll.." 65% say congress should not begin i am approachment proceedings. 2/3 of the people say don't do this. wait until you see what really went on during the 2016 election. full reports are on the way, and they will hit just as impeachment fury hits full force. the left is going to lose, big time. the second hour of "varney & company" is about to begin.

♪ stuart: all right. okay, i will calm down about it. why not? just because it is frye, doesn't mean i can't calm down. dow industrials are up about 140 points, half percentage point to the upside. i'm calm. let's bring in fox news contributor tammy bruce. she will fire me up. >> you're our own stable genius right now. stuart: flattery works wonders on a friday, let me tell you. what do you think i said? >> you are correct. you have the harvard "harris poll," but i can tell you npr/pbs maris poll. stuart: npr. >> 91% of republicans say no to impeachment. 51% of independents say no. even 25% of democrats one out of four say no. if this were to occur, democrats never know to stop, they would unify republicans even more, would push independents towards

republicans would divide their own party. that 65%, that harvard poll you noticed, president's approval ratings 43% in the polls. likely much higher. even people who don't like the president are saying, don't do it. this is, whether they will listen to the very few people who are on the fringe in congress and ignore their base, considering what they have done to their base in the inner-city, and in cities in general, california, new york, clearly the democratic party has not been listening to the average person for quite some time. stuart: but "the washington post" says that jerrold nadler, he favors beginning the impeachment process. >> sure. stuart: and the post says there are five people in the leadership team who want to start the impeachment process. >> yes. stuart: nancy pelosi is an impossible situation. >> they're unhinged. there is a point where you get into group think, there is a bubble. they're not out there dealing with the average person.

twitter doesn't represent the average democrat either. "new york times" that was a pig flying by our window. twitter is not reflection of average democrat. the average democrat are quiet, don't like what is going on. they're in group think framework, cocktail parties, who they hang out in congress, a dozen people, they need into this. frankly the american people have got to see this. there is one thing to tell you that the democrat are unhinged. you think, that is biased or you can simply watch it unfold. there is nothing getting done. they're resisting anything. they're in the resistance, doing anything for the country. the world is watching when the speaker of the house says the president, somebody needs to do an intervention, how is that helping us when war seems to be up folding or at least on the edge in the middle east? how does that help the president negotiate what we need for

families in this country? it doesn't. stuart: let's wait for the next few weeks, i said impeachment fury will be running strong in washington. now we're beginning to find out what really went on in 2016. can you imagine this? >> the timing is, these are very serious people. the attorney general is serious. the attorneys looking into this. the american people recognize that after the mueller report there is nothing. and so you're going to have this double up. so it is not just political timing, but this is about really what has been going on at the highest echelons of our government and the american people have been concerned. they see the president's success. with all of this resistance, what he has been able to accomplish and i think the american people are wondering, wait a minute, if he wasn't burdened with these, these hecklers, what could we do for our familyies in future? i think this is a decision that will affect 2020. stuart: tammy bruce, you appear

to have a good time. >> all the americans are having good time despite the democrats not. they can join us. happiness is a choice. happiness is grateful. on this memorial day weekend we owe so many people who have given the most for us to take our future back. this is part of it. stuart: well-said, tammy bruce. >> thank you, sir. stuart: see you soon. thanks. let's get to your money, why not, it is a friday before a long holiday weekend. the dow is up. market watcher david bahnsen is with us. david specializes in investing in companies where the dividend to growing. you're apropos on a day like this. the market is looking wobbly. we're looking for a nice return. what dividend-paying stocks are you bringing to us. >> i bring you a better dividend than the democrats impeachment

pursuit. stuart: blackstone, you recommended it, i bought quite a lot on i. i made good money. what is the dividend is pays at 41? >> on annualized basis in the 7s. the stock is up 37% on the year. they are converting in july to a c-corp. i don't want to confuse people but it has been in structure taxwise kept a lot of people able to buy it. now it will be opened up to foreign investors mutual funds, etfs. it is really a great move for blackstone. stuart: blackstone pays you on annualized basis across the year 7%? >> correct. stuart: what is the next one? >> we like seven chevron. the deal with anadarko fell apart is why. when companies get in trouble, start cutting dividend, generally m&a, do a deal, take on debt to do it, it jeopardizes their ability. one of the ability we sold at&t.

the time warner deal, at&t is leveraged to the hilt. maybe they will pull through, maybe they pay the dividend but risk of it pulled us out. occidental was doing silliness making acquisition happening, levering to the hilt, paying 4 billion a year to put his name on it. chevron did but they have done 30, 40 years. paying 4%, nine percent on the year but dividend growing for decades. stuart: blackstone, chevron, one more? >> cisco. stuart: what does it pay? >> 2.7%. stuart: whoa. >> they have been growing the different den over 10% a year. if you look at the dividend what cisco is trading on two years ago, it is over 5%. they continue growing it. they have done unbelievable things, changing model to be

more subscription based. getting more subscription cash flow, less volatile stock. >> still better than a savings account. stuart: marginally. >> stuart, you're saying no because the dividend is too low. stuart: yes. >> they're announcing next dividend growth in a month. and i will come back and you will unhum your way. >> like that. that is the word of the david. stuart: david, thank you very much. we know this britain's prime minister may says she is stepping aside as the leader of the conservative party, june the 7th. boris johnson says he will run to replace here. ashley: a whole slew of them. jeremy hunt, foreign secretary resigned that position to begin his leadership campaign. this will take a while. she is done on june 7th, but will remain caretaker prime minister, some say that could go through september. they have to whittle down the

contestants to two. they will be voted on by the party in total. then they find someone. that person still has to get a government together. it could be longer drawn-out affair, typical british politics. stuart: that is crazy stuff. good heavens. ashley: summer recess in the middle of all this. they have to get a lot done before that hits. stuart: one point has to be clear here. boris johnson is odds on favorite. ashley: four to one. stuart: four to one. dominic rab. jeremy hunt. all are brexiteers. ashley: boris the most but yes. stuart: i think more likely we get out this year, no matter what. ashley: october 31st is the current deadline if you believe in that anymore. if boris is in charge he will be quite happy to bail out on october 31st. sayonara. >> good halloween exist. stuart: i have to stop saying we get out. because i am an american. ashley: yes, they are. stuart: and they have got to get

out. are you with me? ashley: we'll expect you. i'm with you. stuart: thank you very much. still to come in this one hour extravaganza, boston beer cofounder jim cook, and dog fish founder, they have announced a 300 million-dollar merger. here is the question, by joining forces will they change the taste of their craft beers? that is a pretty good question for beer drinkers. ashley: taste test. stuart: 9:00 in the morning. >> that's all right. stuart: facebook removes 2.2 billion fake accounts. can they ever win the fake account battle? really? we have someone on the show who says he wouldn't be surprises if facebook goes on to remove 22 billion accounts. how do you get that? there are only six billion people in the world. we'll figure it out. president trump off to japan where trade is on the top of the agenda. we have the u.s. ambassador to japan coming up on this show today. ♪

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stuart: well, we have lost a bit of a rally but we're still up close to 100 points. we're up 1/3 of 1%. that is the dow industrials. how about the sap 500? okay, we lost a bit of that rally too. they are also up about .4%. pretty solid. as for the nasdaq that was up strongly earlier and it's still up 2/3 of 1%. tech doing well today. better take a look at this. this is the most important interest rate in america, 2.33% is the yield on the 10-year treasury. that yield has come down a lot this week because people moving into it as a form of safety. it is a safe buy. an american treasury security. that is dead safe. as people buy it, the price goes up. that is why the yield comes down to 2.33% as of now.

rush to safety. president trump heads to japan later this morning. you know that they will be talking trade when he arrives. so joining us now, bill hagerty, america's ambassador to japan. mr. ambassador, does america have a firm trade dale with japan as of now? >> well, good morning from tokyo, stuart. it is particularly exciting time to be here. certainly trade will be on the agenda when the president is here. there are a lot of items on the agenda. there is a tremendous amount of excitement. i was here 30 years ago when i was posted with boston consulting group, the last time a new emperor ascended to the thrown. this time it is particularly historical because it is the first time in more than 200 years a sitting emperor decided to retire to pass the baton to his son, his majesty her --

hirhoto. stuart: there is a delay. i hear japan is rolling out the red carpet for our president? that the japanese people like our president, is that accurate? >> oh the excitement here is tremendous. the tallest tower in tokyo called the sky tree, will be lit up red, white and blue, when the president arrives t will be a tremendous affair this is important because it's a the first state visit for the new emperor and it is particularly relevant, the royal family, a dynasty been in place here in japan more than 1300 years, chosen the american president, president trump to be its first state guest. stuart: i presume that we are a very close ally of japan and japan needs us at this moment because of the tension with

china. so i mean i'm sure we're a very welcome presidential visit, but we also have today, the north koreans announcing that they will not resume talks with america unless the u.s. changes its position on unilateral disarmament. looks like it is a dead stop on nuclear talks with north korea. did they announce this just as president trump arrives in japan to have a go at japan and have a go at america? >> well the dprk is certainly aware that the strongest alliance in the world relative to this issue is the alliance between the u.s. and japan. i'll say this, that our goal remains the same. that the sanctions will remain in place. my anticipation is that our alliance with japan will remain ever strong and as firm as it could be regardless what north korea may say or do. stuart: mr. ambassador, bill

hagerty, i'm sure you will have a enjoyable time when the president visits. we're very glad to hear japan is rolling out the red carpet for him. we thank you very much for appearing on our program this morning. bill hagerty, america's ambassador to tokyo. >> stuart, thank you very much. stuart: coming up, chris algiri, this is total change of course, look at that you have a boxer on the screen. chris is a, a medical student and b, he is a professional boxer. there is a combination for you. i want his thoughts on professional athletes using cdd and pot to treat pain. why on earth a budding doctor is a boxer. ♪ i'm working to make each day a little sweeter.

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stuart: okay. we to the the dow industrials up 113 point. that is a gain of nearly half a percentage point. we are what, about 53 minutes into the trading session. now this. first it was the nfl. now ufc, ultimate fighting people. they will study the effects of cbd an marijuana, thc on relieving athlete pain. ufc is teaming up with aurora cannabis on this project. we have chris algieri, a clinical nutritionist. also a professional boxer. welcome back. >> nice to be here. >> what is a clinical nutritionist doing in the boxing

ripping? >> for most part i'm fighting but i'm helping people out. stuart: a juxtaposition i would say. >> i like to have a little bit of balance in my life. stuart: cbd, thc, both coming from marijuana, the pot plant being used to treat athlete's pain, as nutrition it, what do you make of this? >> preliminary research looks pretty good of the effect on i inflammation, where sports like ufc an football where head trauma is prevalent, it could be beneficial. stuart: talking about cbd, doesn't get you high, the cbd oil. is there evidence that 2 does work, anti-inflammatory? >> anti-inflammatory, right. stuart: is there evidence it workses? >> nor research needs to be done. why the nfl are looking into it. preliminary evidence.

athletes i spoken to swear by it. some say no. some say yes. i think more research should be done. stuart: what about thc the other side of the marijuana story, it gets you high, does it relieve pain? >> i know they use it for psycho analytic effect to relax, getting ready for a big fight. there is tremendous amount of stress being professional athlete. there is that side of the coin too. stuart: as you work up towards a big fight, obviously you're training away, jumping rope, whatever else you do, you smoke, not you, i'm not going to put you on the spot but -- >> i don't. never have. stuart: some do. >> yeah, absolutely. stuart: relaxes them? >> it can help relax them, deal with stresses of training and schedule up to a event. stuart: can it be bad for you? >> not necessarily. it is natural. you are dealing with some obviously some inhalation and smoke, very little compared to say someone who is a career

smoker. stuart: today is may the 24th i believe. you are going to fight on june the 1st madison square garden. >> uh-huh. stuart: what are you trying to do? get your world championship back? >> that is exactly what i'm trying to do. stuart: you are a super lightweight. >> yes, sir. stuart: that is pejorative term, lightweight. what weight do you have to keep under? >> i fight at 140-pound. stuart: that is what you got to be? >> that is what i got to be. stuart: who are you fighting? >> tommy coyle from the uk. stuart: okay. chris, you've been on the show before. welcome back. good to see you. >> always a pleasure. stuart: hope you get the belt back, son. good luck. >> thank you. stuart: what have we got for you? it's a friday feel to it. ashley: yes. stuart: with the beer industry -- ashley: there you go. stuart: blaming trump's aluminum tariffs for 40,000 job losses. we got that. we'll see what the cofounders of boston beer and dog fish head think of that. they're on the show.

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♪ stuart: dr. robert. oh. quite a song actually in its day. look up the words carefully. >> play the home game.

stuart: all right. we've lost a good chunk of the rally that we had today. we've been open for an hour. we were up about 130, 140 i think at one stage. we're up 80 points. 25,500 is where we are. news background, theresa may stepping down. president trump on his way shortly to japan. let's get more on your money. the gig economy, want to talk about that, jobs like uber drivers, airbnb landlords. a lot of people on the program who say this kind of program, this kind of gig worker, drivers, for lyft and uber, they're struggling, struggling financially. but our next guest says they're making way more money than we assume. robert moran is with us. he is a brunswick group partner. robert, make your case that gig workers make more than we thought. >> so there's a couple things here that i think the audience

needs to know. the first is, that the government itself doesn't know how many americans are doing gig work or part-time work. there are a wide range of definitions and so we don't really know the number although polling gives us some estimation. here's the thing. about 3.3 million gig workers who we would call, sort of high-skilled freelancers, make over $100,000 a year. that is one in five, about 20% of american freelancers. yeah, they're making over $100,000 a year of the those individuals tend to be higher skill, a little bit older, in their 50s, normally, and just a little bit more male than the average. stuart: old on for one second here. gig workers, independent contractors, essentially that is the nature of the work of their employment system. >> right. stuart: you say there are 3.3 million of these gig workers who make over $100,000 a year?

that's 20% of the total number of gig workers in our economy. that's astonishing. those people are well off. >> it is. the problem here is, if you actually dig deep into the numbers the government itself does not know how many gig workers or part-time type workers there are. so the federal reserve has one definition, that would have 75 million workers. bureau of labor statistics has a much tighter definition. there is something called the freelancers union, estimates 57 million of americans have some kind of part-time work arrangement. but i think the better gauge is from "gallup polling" and there is really good research gallop has done on this they asked americans about their work arrangements. 29% said they had an alternative work arrangement as their primary source of income. stuart: whoa. >> 36% defined their work as gig work. i think a much bigger issue here

is as more and more americans go to more flexible work arrangements, you know, our taxation systems government regulation, all this stuff is based in things in the last century about full-time workers and has not really caught up with the reality and if these individuals keep going, become more entrepreneurial, build businesses, small, micro enterprises the government is going to have to find a way to catch up or it will just get in people's way, as they scale up whatever new alternative arrangement they're trying to come up with. stuart: your research is fascinating. i want to share some with our viewers. you have surprising point, what i call ceo turnover, being dismissed. dismissals, i understand are at record high. let me run through some of the numbers you provided for us. according to price-waterhouse. 18% of the world's top ceos were let go last year.

18% were let go. a lot were fired not because of the company's finance or performance. 39% were let go because of ethics violations. is this new normal, robert, you're forced out not because of the performance of the company but your personal ethics? >> it is the new normal. 35% of fortune 500 ceos that were terminated last year were terminated for financial performance. 39% for ethics. so i think what you're seeing boards of companies are reflecting the societies that they're in, society we're in and holding leaders to a higher ethical standard. which in the long run, as i think very good for management of corporations. stuart: but what you're doing with your researches, you're cutting through the clutter. you're really cutting through to find out what do these independent contractors really make and how many of them are there and you are cutting

through the clutter on ceo dismissals which most people would assume were because of the poor performance of the company, and that is not exactly true these days. you got anything else for us? >> well, here is another one on ceo's. so the number of ceos that were terminated, we saw 3% rise from 2017 to 2018 just among fortune 500. i think that is really interesting in of itself. so it's a rise in volume but a change in the reason why and i think part of it is because ceos are trained to work in their task environment, in the operating environment of the firm with the core stakeholders, they're used to thinking about, customers, suppliers, et cetera, pricing, managing the board, managing earnings, et cetera. but this is wider society pushing in on ceo behavior and expecting a higher performance there. and i think people, as people

will do, will adjust and evolve. in the long run, it will just make american corporations a lot stronger and it will probably select from more disciplined individuals at the top. stuart: fascinating. robert, thank you very much indeed for providing my viewers and myself with this free and valuable information. i think that is pretty good. you can come back anytime you like, mr. moran, and i'm sure you will robert, good stuff, thank you, see you soon. the big debate here, trump versus the top democrats is really coming to a head. listen first of all to what the president said responding to speaker pelosi. roll at that tape. >> i saw her read it perfectly just the way she said it, very, very sort of a nasty type statement but i will say this, she said i walked into the room right next door yesterday and walked in and started screaming and yelling, just the opposite, just the opposite. because i know they will always say that, even if it didn't

happen, because this happened once before, i walked out i was so calm, i haven't changed very much, been very consistent. i'm an extremely stable genius. okay. stuart: you heard that? extremely stable genius. speaker pelosi fired off this tweet in response, quote, when the extremely stable genius starts acting more presidential, i will be happy to work with him on infrastructure, trade and other issues. come on in please, the author of this book, "working class republican, ronald reagan and the return of blue-collar conservatism." a man i have known, been reading a long, long time. his name is henry olson. welcome back to the show. good to see you. >> good to see you. stuart: i share your opinion on liability lawyers, didn't you write the book the excuse factory? wasn't that you? >> that is another olsen. wally olsen. stuart: i'm sorry. i'm sure you share my view. >> oh, yeah. i'm a recovering lawyer myself.

stuart: and i'm not. this standoff here, this talk of impeachment, does that improve the lives of ordinary americans? >> oh god, no. this is high school writ large where one person blames the other for doing x and other person blames the other for doing y. really speaker's choice and democrat's choice. they have decided that the mueller report didn't produce what they wanted, so they will keep digging. what do you expect the president to do? to sit down, sit down with people who think that he is ethically unfit for office, decide to try to put it behind them. they don't put it behind them so why should he put it behind him? stuart: you don't think trump democrats, same people that voted for ronald reagan, that same group of people, you don't think they will shift their allegiance? >> not because of these sorts of things, no. in 2018 i think most of them stuck with the republican party. i think most of them are still behind the president. when they actually see a nominee

where they have to, even if they're not crazy about the president now, the few that are, when they take a look who the democrats put back, i think they will probably do what they did in 2016, reluctantly back him. most were enthusiastic about trump then and they're still enthusiastic about him now. stuart: this group of people you're writing about, talking about, is this group of people will play a pivotal role in american politics down the road? >> absolutely they're going to. the democrats would like to talk about them shrinking. for the next 15, 20 years, they are the group that continues to dominate the upper midwest. if people can get their loyalty, they have a path to the electoral college. that is what donald trump figured out when 16 other republicans couldn't figure it out, that is why he is sitting in the white house. democrats and republicans overlooked this group at their peril. stuart: henry, i'm sorry i confused you with someone else. i apologize. i'm glad we share commonalty of

opinion here. you can come on the show anytime you like, that's a fact. >> thank you, stuart. stuart: sure thing. we have our own social media guy. he will take us through facebook's fake account purge. you may have heard about it, 2.2 billion fake accounts, to be removed. not affecting the stock. it is up a buck 40 at 182. we'll be back. ♪ ♪

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stuart: in boston beer, these are the sam adams people merging with dogfish head brewery, that is a smaller craft brewery,

they're getting together, 300 million-dollar merger. we have the ceo of boston beer and president of dogfish head. gentlemen, great to have you with us. jim, start with you, if i may, why get together here? why the merger? is bigger, better these days as people are drinking less beer, jim? >> a couple things that motivated this, over the years at boston beer company we probably turned down 100 proposed transactions of various sorts. dogfish head was special, partly because of my coguest here, sam is somebody that i've known for over 20 years. we worked together. we brewed together. we've collaborated and this was really a merger of, you know, people with talents and schools schools -- skills that will be synergistic and merger of

culture and values. 70% of mergers fail. just like ceos being gone for ethics violations it is culture and values that really matter. that was the nature of this. stuart: i'm glad you're watching the show, jim. i can tell. >> of course. stuart: good man. sam, dogfish head, i know people who drink your beer and it has a very distinctive taste. any plans to change the taste or change the beer at all now that you're together with sam adams? >> no. we're just going to have more weapons in our arsenal to innovate and exponentially awesome opportunity. if you look at dogfish head's strengths and boston beer's extremely complimentary, not competitive. dogfish is known for ipas, source, distilled spirits. boston beer sam adams known for beautiful lagers, ciders, ton

anything. we're able to give the consumer, retailer, the most do nam mick package from any company in the world. stuart: sounds like you're talking out after cave. we can bear with that, sam. we'll definitely bear with that. i will go to jim for the next question, if i may, is this deal all about distribution? i'm told that is the name of the game in beer? tell me about that, jim. >> to some extent it is about joining forces as two of the leading craft brewers in an environment where, you know, all craft brewers are small and we compete with two, you know, mega, global brewing conglomerates in the united states. most people don't realize it, over 80% of the beer made in the united states is made by just two, big, global, brewers anheuser-busch inbev and miller

moulson coors. all craft brewers, sam adams, on down are quite small and today we are now competing with these big global brewers who unfortunately, the previous administration's justice department allowed them, even with over 80% of the production in the u.s. to go buy up craft brewers which they then market without being transparent about who really owns them. stuart: got to get in a question in about tariffs. your cans and kegs, aluminum, i believe, and tariffs on aluminum, according to one industry group, costing your industry, the beer industry, 40,000 jobs a year. that sounds like enormous number of jobs to me. let's go back to sam for a second here. how are you dealing with these increased prices of aluminum for your kegs and your cans? >> well as jim alluded to, we're still david up against a couple of goliaths.

so even as our companies merge, we're still less than 2% market share but we do have more clarity on sourcing. it gives us a finite amount of more capabilities, whether it comes to sourcing kegs and aluminum but we're still at a huge disadvantage versus international giants that dominate global. stuart: i can hear you both very clearly. i want to thank, jim and sam, both of you, thank you very much for being with us this morning. graduate news on the merger. ashley: cheers. stuart: cheers to you, young man. >> i drink to that. stuart: good stuff. next case, john rat ratzenberger might know him as cliff on "cheers." he will be in the new toy story movie. it will be a big moneymaker for

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stuart: look at that. we lost the rally. we were up over 150 points i

think. now we're up just 20 points. so the rally completely faded. the dow holding on, 25,500. news on facebook. they purged 2.2 billion accounts from their site. they're saying these were fake accounts. i want to bring in our social media guy jim anderson, ceo of social flow. first of all, what exactly is a fake account? give me an example. >> i signed up for one on the subway platform this morning. you pull out iphone. you're a new user. thought about you, 15 seconds to sign up for an account. facebook makes it easy to sign up for an account. i have an account, from facebook's perspective i'm not allowed to have two accounts. second one i deleted. i. stuart: they pop up again as soon as you do, "whack-a-mole." >> think industrial scale. facebook will never win this game. they can only not lose. 100 computers, 24 hours a day

signing up new accounts. that is the kind of scale people are doing. those accounts have value. stuart: they really can't keep on top of it? >> it's a "whack-a-mole." they can keep on top of it. all they can do is control it, beat it back down. they will never stop it. stuart: show that they're fighting the good fight? >> yes. stuart: maybe why the stock is up, the cryptocurrency deal they have got going. they're trying to set up a whole network using some investment first to deal in, their own cryptocurrency. >> yeah. think about it. we talked about this before, payments, commerce. what is amazon so successful doing enabling commerce. we heard mark zuckerberg talk time and time again moving into commerce this is a great example of facebook taking a very innovative tack. they have scale to bring off blockchain and cryptocurrency. stuart: they have their own cryptocurrency for 1.5 billion

active users? >> yeah. stuart: we have breaking news, ashley? ashley: to do with the disaster relief bill. 19 billion-dollar bill the president late yesterday was behind it, even though it gives no money to the border wall. we're hearing from republican congressman chip roy, no, he will object to it, try to block this bill, even though texas will get a lot of that money. he just said there is nothing in there to offset that large amount of money. he is going to vote no. stuart: they want the border wall money in there. ashley: correct. the senate passed a bill that does not contain that money. stuart: worth putting in the show. thank you. emotional scene in london this morning. prime minister theresa may announcing her plans to step down. so what's next for the brits? lots of unanswered questions. i'm going to try to provide some clarity out of the chaos. give me a break. we'll see how we go after this. ashley: good luck. so, jardiance asks...

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stuart: an emotional prime minister, theresa may, has had it. she's stepping down from the leadership of her conservative party on june 7th. when a successor is chosen, britain's second female prime minister will leave ten downing street. roll tape. >> i do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country i love. stuart: emotional indeed. frankly, i don't know how she took it for so long. theresa may is one strong woman. but she was thrown into what was almost a civil war waged between the elites and ordinary people in britain. business, media, the educated people with money, the arts, entertainment, all of these groups of people did not like the idea of britain leaving the european union, and they did everything they could to reverse the brexit vote.

that did not go down well with the ordinary people, who had supported brexit in the first place. positions hardened, theresa may stranded in the middle couldn't bring the country together and now she's leaving. so now what? i think there will be a new and much harder push for the brits to leave. according to the bookies, boris johnson is the odds-on favorite to be the next prime minister. here's what they call a brexiteer. he really does want out. all of the other leading contenders with brexiteers, too. the conservatives will rally around a leader who will be much tougher with angela merkel and emanuel macron. good. britain should leave. that's my opinion. they should leave. europe has an unsustainable weak-kneed socialist economy. it's becoming a vast museum. why stay? instead, britain outside europe has an excellent opportunity to increase trade with the united

states. president trump is very open to that, and he's going to a state visit to london on june 3rd. boris johnson, often called britain's donald trump, is surely open to an american trade deal, too. i'm sorry to see a fine person like theresa may destroyed politically, but i am happy that her leaving offers the opportunity for my adopted country, america, and the country of my birth, britain, to get a lot closer together. the third hour of "varney & company" is about to begin. stuart: lot of action friday. it's 11:00 in new york, 8:00 in california. let's check the big board. we almost lost the rally entirely, struggling back to a tiny gain. now we are up 26 points. as for my editorial about the brits and brexit and theresa may, who better to deal with

this than charles payne, host of "making money" on this network. first of all, charles, will theresa may's stepping down have any impact at all of any kind on our stock market? >> i think potentially it will, because -- stuart: really. >> initially right now, the odds are there will be a no-deal brexit. boris johnson is not going to mess around. the british people voted for this. the mayor of london can call for a second referendum and everyone else can, so there's going to be a hard line, i think he will take a real hard line. she tried everything, right. so you're going to see whatever the worst case scenario is that people have been advertising, we will see if it comes to fruition. i don't think it will. i think the folks, the british people have spoken, and i think it's an excellent opportunity, to your editorial, for them to be a more independent country and not have to go to brussels for certain things. stuart: it's a tailor-made opportunity on this state visit

of president trump to england to sort of say we're ideal partners for a new trade deal. >> ideal partners, but also, the greater theme going around the entire planet is a push back against the elites. we saw it again this week. overwhelmingly, modi is called the indian tea party candidate. we saw it in brazil. we saw it in australia over the weekend against all odds against the hottest summer in the history of australia, against the coral reef dying, against the massive polls conservatives won, elites lost. it's happening every square inch of this planet. it's happening. the average person out there says you know what, we gave the elites who control the media and everything else, gave them 50 years to run this world and we don't like what we've gotten from it. stuart: now look, you are an investor, you advise investors. you are very much an analyst of the investment scene. it occurs to me that here we are on the cusp of a three-day weekend. anything could happen. >> anything could happen. stuart: any tweet from the

president on china trade or anything else could really affect the market. so i would expect people to be rather cautious today. >> they are cautious on any three-day weekend, to your point, right, but especially a summer three-day weekend, they are even more cautious, then one with so many question marks. here's the good news, though. we already had the bombshell with the china trade situation two sundays ago. yesterday, during that press conference it was sort of impromptu in response to the question about huawei, ultimately saying hey, maybe it could be part of a trade deal. that sent the market that looked like we would be down 500, down 280 points, the dow. so i wouldn't be surprised if there will be some folks out there going along this market, thinking that over the weekend, we will hear something good, but i don't know if that will be the majority. we are going to be struggling all day long to maintain slim gains we have. stuart: if there's anything breaking over the weekend, i'm just dying to see that market on tuesday morning. >> it's going -- it could be nuts. it really could be. stuart: stay there for a second. i do want to talk oil. prices this week, the price of

oil this week really took a huge tumble. i think one day it was down like 6%. okay. it's bounced back a little now. no, no, look at that. it's on the downside again, $57 a barrel. let's bring in jackie deangelis for all of this. what's going on with this market? why such a huge drop here? >> three factors impacting oil now. first of all, supply. 12.2 million barrels a day production here in the united states. stuart: 12.2 in america? >> it's a massive number because of the shale boom and fracking. saudi arabia in comparison, 9.7 million. the iran numbers have come down but they haven't completely dropped off. there's enough oil out there and as demand grows right now, it's pretty much stable at this point. so the other two factors the market is looking at, china trade. when there are fears that bring the stock market down like we saw yesterday, that's when you see oil move along with it because that impacts the demand equation. and the last -- stuart: hold on. i hate to interrupt you. i do apologize. but no trade deal pushes oil down in price. >> that's correct. stuart: if there's good news on

a china trade deal, the price of oil goes up. >> the price of oil will probably move higher with the market because the idea would be that demand would increase by increased relations between the two countries but if there are continued trade tensions and things slow down, then global growth slows down, so does oil. stuart: i think i interrupted you. >> one more point. a quick one, but it's just the fact there's no progress on an infrastructure deal so investors and oil traders were definitely looking to that to spur demand as well. when we have this much supply, it's fine, it's great, you just need to have it absorbed. stuart: from my point of view it's all very good news because my gasoline bill. >> it's amazing we are under $60 a barrel domestically going into a holiday weekend. the average price for a gallon of regular, $2.85. it's 11 cents lower than it was this time last year. stuart: unique situation. jackie, always good stuff. thank you very much indeed. charles payne, he's always here. i think this is unadulterated good news. >> it's reasonable.

we went from $45 to $65 from december 25th to just earlier two weeks ago. it was a huge move no matter what, just like the market. it was bound to pull back a little bit. again, it's supply. we've got a ton of supply. and the interesting thing, once we do get the infrastructure particularly in the permian area, we will have more supply online. it's an american thing, an american product and they can make big money north of 50 bucks. stuart: however, if you get the price of gas coming down, we had gas buddy on this morning, predicting five to ten cents down within the space of a couple of weeks, and heading south. i think that takes any pressure off inflation, doesn't it? therefore, gives the fed some more breathing room. >> the fed, you know, they tend to x out food and oil because it's so volatile when they make -- well, maybe janet

yellen, first thing she has to learn how to do is drive again. the point is that they x that out and what inflation? if we are going to switch the topic, the fed, their biggest issue now is why haven't they been able -- ashley: yeah. they are worried about deflation. stuart: let me assure you, on this program we never switch the subject to the fed. >> i forgot. it's been a long time. stuart: [ inaudible ] still in london? >> he's still in london. stuart: is he a brexiteer? >> he loves nigel farage. he went out for a couple of beers with nigel. stuart: everybody has a couple beers with nigel. charles, thank you very much. have a great weekend. >> you, too. stuart: jackie, thank you very much. later this hour, the president does indeed leave for japan. he's going over there to attend the investiture of the new emperor and will be discussing trade. japan is rolling out the red carpet for our president, giving

him a very warm welcome. now, as he goes towards marine one, he will often stop and say something to the reporters. he can't resist a camera. if he says anything, you will hear it. we are also bringing on the show, i can't believe this, ben & jerry's, the ice cream people, are on the show. they are socialists. what are they doing on a business show? i will certainly ask. we'll be right back. no, no. i've got more. i was getting carried away. we will talk to john ratzenberger from "cheers." he wants to talk jobs. don't we need more people in the skilled trades? that's what he's going to be talking about this morning. the third hour of "varney & company" rolls on.

stuart: this is just coming to us from the pentagon. president trump has approved a plan to send about 2,000 troops to the mideast. they will support -- they will serve as support for existing troops in the region. we are told they will not be on the front lines. something special for you on this holiday friday. our next guest is a jobs guy, likes getting high-skilled american workers right to the right job, and it just so happens to be he's the man in the "toy story" fame. john ratzenberger is the guy and he's with us now. you are a big fan of the trump economy, aren't you? >> yes. yes. yes, yes. matter of fact, i sit on his task force for partnership expansion. there's about 20 of us. i'm the only actor so far. stuart: tell us about that, john. i know you have been on the show before. i know you like the idea of youngsters going to a skilled trade and making some serious

money. is president trump really making moves there? because i think that's a great thing. >> well, absolutely he is. because he understands it. he's a builder. that's what he did before he got this job. and he understands we are running out of carpenters and electricians and glazers and stone masons and they are the essential workers. i always, when i speak, i speak on this around the country, corporations and whatnot, but i always start off by saying, you know, it may surprise you but actors, sports celebrities, are not the essential workers. plumbers, carpenters, you know. if we disappeared, our families would be sad but that's about it. nothing would change. but imagine if all the carpenters disappeared and plumbers, stone masons, truck drivers. people don't even realize we are running out of airplane pilots now. stuart: that's true. we've got this college

admissions scandal, we've got the elites letting their kids have extra time to take s.a.t. exams to get into college. it seems like, you know, not just a value for college education but the whole reputation of a campus is really coming down a couple of notches. why not go to a trade school instead and learn a trade? >> well, they can do both. that's what i did. i was a journeyman carpenter but i did get a degree in english. you can do both. there's nothing stopping you. but the scandal that you talk about, i think the roughest part of that whole thing is the parents have to admit their kids are knuckleheads. that's got to be tough for them. i've got to spend half a million dollars to get my kid into college. if they had given me $250,000, i could have educated the kid. stuart: i think you've got a fair point to make there and that's a fact. i do want to ask you about the

movie "toy story 4." you are the voice of ham, the piggybank. let me just play our audience a quick clip from the new film. i just want our audience to see this. roll that tape, please. >> something happened to him. stuart: okay. i missed that. >> that was it? stuart: would you do me a favor and use the voice of the pig, please, because we're not getting it right on that clip. go ahead. >> well, one of the lines that is always requested with kids, when i speak in schools, which i did yesterday out here, it's it's mr. porkchop to you. the audience goes wild. stuart: yes. have you been in all four "toy story" movies? >> i have been in every single pixar movie. yeah. stuart: you are mr. pixar.

>> john lassiter says i'm pixar's lucky charm. i hope it's still in effect. stuart: look, i'm sorry i'm out of time. thanks very much for being with us. we want to keep plugging away at skilled trades. it's a really good idea. i will watch "toy story 4." take the grandkids. >> yes, take them. stuart: see you again soon. thanks a lot. still on disney, the company just announced they are adding the university of central florida to their employee education program. hourly workers can attend the school free of cost. disney covers tuition, covers books. that's from walt disney, the disney company, i should say. just announced it. university of central florida. ucf in central florida. we told you about this on wednesday. coca-cola bringing back new coke in honor of netflix's hit show "stranger things." guess what?

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stuart: okay. you asked for it. at least i did, i guess, and i got it. this is a can of new coke. okay? this is the stuff they're putting out in honor of the netflix hit show "stranger things." look, i don't drink coke. i'm not going to drink it out of the can. i've got a straw, is it a plastic straw? politically incorrect. hold on. hold on. ashley: and? stuart: look. it's pretty sweet, i've got to say. that's my judgment, okay? i don't have any old coke to judge it by. that is sweet. what have you got? ashley: i'm going to go with diabetic shock. that is very, very sweet. they put this out because pepsi was starting to gain more share and pepsi is sweeter than coke. so this is the result of that. boy, what -- deirdre: they met their mission. this is really sweet. stuart: they put this out back in 1985. as you said, to go up against

pepsi, withdrew it because people said it was too sweet. i've got to say -- ashley: too sweet. pure sugar. stuart: sorry. just too sweet. you barely took a sip. deirdre: i'm not a big fan. it's true. this is really sweet. stuart: did you try it? deirdre: i did. i tried it. stuart: you wet your whistle? ashley: i witnessed it. deirdre: that's why it's -- stuart: webster chugged the whole can. all right. we did the test. our judgment is it's very sweet. check this out. a few months ago we debuted this. these are ten boston dynamics spot minis. they are pulling a truck. there you go. that's pulling a truck. well, ladies and gentlemen, you ain't seen nothing yet. how about one of these, just one of them, these little minis are pulling an entire jet. yes, they are. deirdre: crazy looking. stuart: made by engineers at the

italian institute of technology. it is called the high-q real. they hope to deploy it to sd disaster areas to help. deirdre: looks like a giant cockroach. stuart: exactly. deirdre: to a new york city resident who knows what a cockroach looks like. ashley: thanks for that. stuart: i've got to say, that's pretty good. it's a lot of muscle. ashley: very impressive and creepy. deirdre: a little scary. stuart: pretty soon we have the ceo of ben & jerry's on the show. now, the ice cream people, of course. the ceo is actually backing bernie sanders. what is a businessperson doing supporting a socialist? why? we will discuss. meanwhile, the markets are back on track for a very modest gain. we were up 150 when we opened the show. now we are up just 37. the dow is at 25,529.

we'll be back. you wouldn't accept an incomplete job

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stuart: i sense a note of caution today on the stock market. after all, you don't know what's coming down the pike over this long holiday weekend. the slightest tweet from the president could set you off one way or another. that's why we've got a very modest gain, 40 points for the dow. that's it. jeffrey cleveland is with us. first of all, in the news background today, we have the stepping aside of prime minister theresa may, and the likely replacement by boris johnson. i don't think that has any impact on our stock market at all. am i right? >> i think you're right, stuart. there are a lot of cross-currents globally, global political uncertainty is certainly heightened. we expect more rhetoric on a hard brexit out of europe. but does that affect the u.s. economy? not much. no offense to my colleagues in

london, but the uk economy is relatively small in terms of the global backdrop. it's about the size of indonesia in terms of its contribution to global gdp, and i think the real question for investors amid all the noise, what should you focus on. i think this week, the housing data. housing is the u.s. business cycle, and the new home sales on the three-month average reached a new high for the cycle. that usually bodes well for construction activity. and it's hard to see a recession in the u.s. if housing is picking up. stuart: that's interesting. there's a sea of negatives out there. it's been a tough week one way or the other. so we are looking for positives. you focused on housing. you say that that is a recovery in progress and that that's a plus for the market. what else have you got that is a plus, another bright spot? >> well, i would tell you this morning's data, durable goods is not a reliable indicator for the

economy in real time. part of that is probably the uncertainty with regard to the trade negotiations. so there is some volatility there. weakness that we saw in the latest monthly data. we can probably expect that to bounce back in the months ahead. i would remain calm there for investors. i would focus more on the housing data that i pointed you toward. also, layoffs. layoffs in this country are just above the lows of the last 50 years. it's very unusual to have a recession begin in the near term if layoffs are quite low. this week's data on layoffs, 211,000. that should bolster the consumer so you still have a great labor market and that should keep the economy growing. this could be a repeat of that 2016 period where we did have a lot of news globally, we had brexit, we had a lot of cross-currents, we saw weakness in the data, we saw treasury yields rally through the middle of the year, but as we got into the second half of the year,

fears subsided, things were better, so right now i think we're really in the midst of this market concern but focused on the true signals to the economy would be my recommendation. stuart: if i was an active investor, a trader. i'm not sure i would do very much today because i would be very worried about anything that might happen over the long holiday weekend. you with me on this? >> i think that's true. we are always looking longer term. but i have to tell you, a lot of pessimism is priced in. when you look at where treasury yields are, and you look what's happened to the stock market, a lot of pessimism is already priced in from investors. i think it's undue pessimism. i think it's a little bit too overdone at this point. if you are thinking about the longer term, say the next 12 months, there are probably pockets of opportunity for investo investors. stuart: we have already had a terrific runup in 2019, very modest pullback recently. we are still up, i don't know the percentages, but still nicely higher, 2017. you don't think the party is

quite over, do you? >> no. i still think we have new highs in the stock market ahead at some point. doesn't mean the next few months we can't have volatility but the key question that we always come back to, is the cycle going to continue. if the economic cycle continues for another 12, 18 months or even longer, i do think the equity markets end up higher, risk assets generally so credit sectors and the bond market can still do well. volatility, yes, but longer term gains will be there. stuart: you are the ideal guest for a friday morning before a long holiday weekend. jeffrey, have a good weekend. see you soon. thank you. >> you, too, stuart. stuart: let's get back to the feud, it's a serious feud, between president trump and top democrats. that would be speaker pelosi. i want to show you this clip of her from a press conference yesterday. roll tape. >> another temper tantrum again,

i pray for the president of the united states. i wish that his family or his administration, his staff would have an intervention for the good of the country. this is not behavior that is -- rises to the dignity of the office of president of the united states. >> i walked into the cabinet room. you had the group, cryin' chuck, crazy nancy, i tell you what, i have been watching her and i have been watching her for long period of time. she's not the same person. stuart: well, that is a feud and a half and the man on the right-hand side of your screen there is charles hurd, opinion editor for "the washington times" and fox news contributor. let me get right at this for a second. not so much the feud, but this talk of impeachment in the house. i think it would be a classic political mistake. i think it would be political suicide for the democrats. am i wrong? >> i think you're right and i think that another person who

probably agrees with you on that is nancy pelosi herself, which is why she's making all of these crazy statements right now. she's trying to feed her base, feed the democrats in her party. realize now, she and other democratic leaders have been lying to their voters for two years now about this russia collusion business and they all believed it. they really thought this was going to come to fruition and they were going to be able to get rid of this president that they don't like based on the russia collusion stuff. it all turned out to be a long-running lie and people like adam schiff and nancy pelosi, they knew they didn't have any real evidence as the investigation went on. they knew that this was a farce. so now she's left with the left wing of her party desperate to impeach a guy, she knows it would be a disaster for her party. as you pointed out just a minute ago, as ridiculous and comical as all this nonsense is, the calling names and everything, the bottom line is that there is something very serious

underlying what she said. she's talking about invoking the 25th amendment to have people in president trump's -- you know, in the white house, intervene somehow. this is serious stuff. i think it's all to keep her people happy so she doesn't have to walk the plank of impeachment. stuart: but she's going down that road. the left is pushing her further and further down that road. even though there's a harvard harris poll out this morning that says 65% of people do not want impeachment from the house. last point to you. >> they have heard enough of this. people are sick and tired of hearing about all this nonsense. they want to move on. they want people like pelosi and president trump to focus on things that improve the economy, improve the country. this is absolute nonsense. of course, nancy pelosi lived through the clinton impeachment hearings which turned into an absolute disaster for republicans. and this, i would argue, is an

even worse situation because we had a massive two-year investigation that turned up nothing but it's a classic example in washington where you have people who are leaders or in charge but not leading. they are absolutely following behind. they have run off with the circus and the circus is going off down this plank about talking about impeachment and nancy pelosi is just not a strong enough leader to say wait a minute, stop, we're not doing that, we're going to focus on infrastructure or whatever else it is that could actually help democrats hold on to the house and maybe help them win a seat in the senate. stuart: it is fascinating. charles hurt, i know you are enjoying this. see you again real soon. have a great holiday weekend. >> very entertaining. stuart: it is, actually. it is. it is. thank you, charles. look at google. the stock first of all, it's up today but not much, couple of bucks higher. they are very quietly expanding in new york city. i think, what is it, $600

million spent on a new -- a renovation of a building in the meatpacking district. deirdre: very fashionable area. this is actually the third purchase or third residence, if you like, in that neighborhood. so there's 8,000 workers now in new york city for google and the company says it's going to be doubling the local work force over the next decade, and we remember as well from december, the company is also opening yet another basically office space in hudson square, which is a $1 billion investment. stuart: google is welcome but amazon is not. deirdre: because google asked for nothing. it did not make all these smaller cities embarrass themselves with a ridiculous campaign over a two-year time period. google is basically saying we want to be here because actually the cfo said we are actually growing much larger outside of the bay area than where we started and we see growth everywhere and new york is part of it. stuart: welcome to new york. ashley: yes. stuart: now you have to pay the city tax. ashley: good luck.

stuart: they're here. that's all good. got it. now this. a new op-ed, a "new york times" op-ed admits that california is being ruined by the liberal elite and their policies. that's in the "new york times." coming up, we talk to a california gop chair. i'm going to ask her, are we ever going to see a republican elected to statewide office in my lifetime or my children's lifetime in california. first, though, an exclusive interview with the ceo of ben andz j& jerry's. the company started in 1978 with a $12,000 investment. we are talking socialism. the ceo backs bernie sanders. the ceo is next.

stuart: this just in or coming to us from the white house.

a new executive order, not yet, it's on the horizon, and it's about drug price transparency. deirdre: it's about that and also health cost disclosure. so it's not just about drug pricing, it's also for services and our sources are telling us, our colleagues at the "wall street journal," that the trump administration is preparing an executive order as we know this means it carries the force of law. so that hospitals are going to have to start to turn over pricing. there is even a question of whether or not the justice department is going to begin to evaluate regional monopolies, if you like, of hospitals and health insurance plans and the question they are hoping to answer by procuring this data is are they driving up the costs of care on purpose. stuart: that's what it's saying. so transparency. deirdre: yes. yes. if somebody is coming in for one surgery here and 15 miles away, one surgery here, why is the price differential $6,000, for example. stuart: okay. deirdre: can we deal with it. stuart: pretty good question. good stuff. thank you.

okay. we have been waiting for this. the ice cream man matthew mccarthy is with us. he is the ceo of ben & jerry's. you are far too young to be one of the founders. >> i only look young. ice cream helps keep me that way. stuart: i really do want to talk criminal justice reform with you. i will get to that. you know what's coming. i can't understand why anybody in business, where profit is a valid motive, would support bernie sanders and his socialism. can you give me 20 seconds to explain this? >> absolutely. first of all, i think the bigger point is that i think it's a total fallacy that american business shouldn't be engaged in its communities. i think actually to assume -- stuart: come on. >> seriously. stuart: why are you a socialist? >> we are not socialists at all. stuart: why do you back a socialist politician? >> we don't. we don't back any politician. stuart: i thought you backed bernie sanders. >> no, we do not back any politicians whatsoever.

stuart: i thought ben & jerry's was big on bernie. >> no. our cofounders, ben and jerry, superactive independently as private citizens in the political world. stuart: does the company support bernie sanders? >> no. we don't -- stuart: does the company reject bernie sanders? >> oh, no. no, no, no. stuart: does it embrace bernie sanders? >> listen, listen, we do not support any political candidates whatsoever. but we are very active on the -- stuart: not the candidates, their ideas. do you support upping the taxes on wealthy people? >> that is not a priority for us as well. nope. that's not priority as well. our priority for decades has been around -- stuart: do you support the tax cuts for business which were passed by president trump? >> that's a good question. i would say that personally, i think it's a bad idea for us to be assuming that tax cuts are going to have the intended effect across the entire business system. whether taxes go up or down,

it's imperative that a business has clear values, knows what it wants to stand for. if you are at the vagaries of tax and taxes and the only way you can make it as a business, if people cut your taxes, i say your brand proposition, your relationship with your consumers, probably isn't strong enough. stuart: let's talk criminal justice reform. to get to that, i will paraphrase what i think you are in favor of. we are incarcerating a lot of people, it's not working, stop it, take some of that money and inject it into the communities from which people come from. that's basically what you want to do. >> that's about perfect. i think there's a mounting body of evidence and actually, over 30 states over the past four or five years have reduced their investment in mass incarceration, shifted those funds to the front end to actually helping build communities. united states has 5% of the world's population but 25% of the world's incarcerated population. it's becoming evident that not only from a caring for our communities perspective but purely from the economic side of things, the way we have been

approaching mass incarceration hasn't been working. the great news is that there's a growing movement to say hey, let's invest in our communities and because we are a business that has been involved in communities for almost four decades, this is a natural place for us to want to get involved. stuart: fair point. fair point. why ben & jerry's? because of your activist founders and you yourself? is this close to your heart? >> i get this question a lot. what the heck does ice cream have to do with -- stuart: it's a fair question. >> the reality is we do these things because the people at ben & jerry's care about them. it's actually quite that simple. i find that a lot of businesses are trying to connect their business or their brand to something that's socially good. that's a great endeavor but you don't have to. what you need to do is actually decide what are your values as a team of people, and our values around social and climate justice have been there for 40 years. stuart: but it is taking a political position. >> we do take political positions. yeah. not with politicians. stuart: you are all right. you are all right. okay.

enough. matthew mccarthy, thank you very much for being with us. >> thank you very much. stuart: we will taste the ice cream later. >> we have to eat ice cream. thank you very much. stuart: let me do this. there's a new op-ed in the "new york times," wait for it, it admits that california is being hurt by the policies championed by rich liberals. get this, that's in the noi"new york times." we will deal with that in a moment with the chair of california's gop. as memorial day weekend arrives, nascar will pay tribute to our heroes with these patriotic themes. you can see the cars in sunday's coca-cola 600 at the charlotte motor speedway. that's the longest race in nascar. we'll be right back. i'm working to make each day a little sweeter.

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stuart: an op-ed in the "new york times" says california is being hurt by the liberal elite and their policies. i repeat, it is in the "new york times." who would have thought? come in, please, jessica

patterson, california gop chair. this is music to your ears. you must be a bit surprised that it's in the "new york times." >> well, certainly when the "new york times" is calling it out we know that there is a problem here in california. stuart: and are you surprised that it's the "new york times" that's saying this? >> it was really just a matter of time before people would catch on to what we here as california republicans have been saying for a very long time. the democrats in california have had majorities in both our assembly and our senate, they have had the governor's seat for the better part of a decade and it's very clear that their failed policies are hurting californians. stuart: it's not going to change, is it? i would be willing to bet, maybe i'm crazy here, but i'm willing to bet that no republican will be elected to statewide office in california in my lifetime or my children's lifetime. do you agree? >> well, i would love to take you up on that bet. maybe some ben & jerry's ice cream.

but we are really working hard here in california to make sure that our message is heard. we are trying to do our best in 2020 so that we can set the table in 2022. we know that the quickest way to balance here in california and the quickest way to right the ship is to make sure that we have a strong candidate that we recruit to run for governor that can win in november of 2022. stuart: can you get the hispanic vote? i ask because hispanics are now the largest demographic group in the state. they are the largest. traditionally, they vote heavily democratic. how are you going to get them to start voting republican? >> well, it's certainly a focus for us as the california republican party. i'm the first latina chair to ever be the chairman of the california republican party, and we need to do a better job, a better job of -- stuart: how would you appeal to them? what is your appeal -- what's your appeal to them? gavin newsom is going to pay for the health care of all illegals

in your state. $100 million every year and more, probably. what is your appeal to hispanics? >> well, our appeal is very widespread and in fact, it is the policies of california democrats that have hurt our most vulnerable communities all over the state. whether it's choice in k through 12 education, whether it's the affordability crisis here in california, whether it's being able to own a home or just having safe streets. these are things that all californians want and our message just hasn't been heard in those communities. we have done a terrible job of bringing that message and are working to do a better job of it. stuart: we are glad to hear it and we appreciate you being on the show this morning. thank you very much indeed. >> thank you for having me. stuart: sure thing. see you soon. more "varney" after this. termites, feasting on homes 24/7.

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stuart: the news background today, theresa may, britain's prime minister, she is stepping down after the june the 7th, however she will still be the prime minister of great britain for the state visit of president trump on june the 3rd. i wonder what they will say. the odds on favorite to replace her is -- stuart: boris john, four to one. i wonder if boris has a little chat with the president about trade deals. that will be a big issue. boris johnson the favorite. stuart: if you get a trade deal for britain and america. >> just like old times. stuart: get back to the old relationship. president trump is about to leave america. he is on his, he will be on his way to japan. now, if he says anything as he boards marine one, you'll see it

real fast. as for the stock market, a little caution there. who wants to go out on a limb right ahead after three-day weekend. deirdre, ashley, thanks for everything today. have a great weekend. neil, it's yours. neil: stuart, thank you very much. we're waiting for president of the united states. sometimes he talks to reporters on his way heading out to japan. this is scene of joint base andrews. he is still at the white house. not all the time, normally, most of the time president stops to talk to reporters on his way out to marine one. maybe he will update us on that, back and forth with nancy pelosi and crying chuck schumer. he might comment on the markets rebounding a little bit today, just a little bit. we're still looking at a fifth straight down week. something we've not seen in eight years. ben cars sons on democrats call for his saying for him to resign that he