tv Varney Company FOX Business June 5, 2019 9:00am-12:00pm EDT
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this is about national security. >> we prosecuted or accepted plea deals from the largest amount of former u.s. intelligence agents who have been accused or pled guilty to selling defense trade secrets to china on a multitude of levels. it's a real threat. people care about it. maria: great show, guys. have a good day. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. let's not grasp at straws but there are positive signals on trade. top officials from mexico sit down with vice president pence and secretary of state pompeo in washington today. mexico's foreign minister says we are looking for an agreement. i'm always an optimist. tariffs on mexican products coming here set to take effect on monday. separately, republican opposition to those tariffs is intensifying. that's pressure to make a deal. we also have this. treasury secretary mnuchin will meet china's central bank chief this week and again, at the g20 summit later this month. maybe this is a positive for
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china trade. all of it is helping the markets. now, with the federal reserve pointed towards lowering interest rates yesterday, the dow went up 500. today, with this trade news, it's going up another 75. a little bit of a drawback, pullback, because of a weak jobs report from adp just a few minutes ago. however, if you are checking your 401(k) this wednesday morning, it is looking a little better than it did on monday morning. let's get to the president. he's attending a d-day commemorative lunch right now in portsmouth, england. that was the embarkation point for hundreds of thousands of allied troops right before they invaded and liberated europe 75 years ago. from there, marine one takes him back to london, then it's on to ireland for a brief meeting with the irish prime minister and a game of golf. the first leg of his state visit is almost over. many brits have given our president the thumbs up. the british media isn't quite gushing but they are warming to
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him. the american media, oh, dear, contemptuous as ever. glad you're watching. we have a real show for you and it starts now. stuart: that's a good graphic. death watch. why use that? look at this. bricks and mortar video game retailer game stop is holding its dividend, revenue down 13%. the big slowdown in game consoles and look at that, premarket the stock is down close to 30%. jack hough with us now. is gamestop dead? >> i think so. there's a lot to talk about a turnaround but no real plan here. my daughter said to me for her birthday i want a phone or i want my ears pierced or i want a puppy. i said no, no, no. let's go get you an xbox. walked into the store, i'm there
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ready to buy, the experience was so difficult we got the puppy, long story short, rather than the xbox. for one thing, they don't sell the new machines anymore. they told me you can order one here, we will ship it to you in a few days. why am i at a store if it's not for isn't th for instant gratification? it doesn't look too appealing to me. stuart: it's drifting down, it's dying. it's like blockbuster. >> when is the last time you bought music or a movie on disc? ask yourself how much longer will you be buying video games on disc? if not for discs, this company has no reason for being. stuart: you just sunk them. thanks very much. stay there. i will have more for you later. let's get to the president's visit to britain. president trump honoring the d-day anniversary, reading from a prayer originally delivered by fdr75 years ago. watch this. >> embrace these, father, and receive them that heroic
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servants into thy kingdom and oh, lord, give us faith, give us faith in thee, faith in our sons, faith in each other and faith in our united crusade. thy will be done, almighty god. amen. stuart: as we said at the top of the show, the brits seem to be warming to our president but he still can't get -- do anything right for the american mainstream media. you've got to watch this. >> when you watch trump inside all this pageantry and he looks awkward in it, he's a guy who would look awkward at a tailgate party at yankee stadium, much less buckingham palace. >> the brits absolutely know how to troll the president. they know how to get under his skin. and they did it with, you know, with style, with spectacle. >> perhaps he likes the idea of being a king. >> turns out pettiness and narcissism don't mix well with diplomacy. who knew.
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donald trump just cannot restrain himself. >> president trump on the world stage, hurling insults at anybody who doesn't agree with him. stuart: pathetic. joining us now, rnc chair romna romney mcdaniel. excuse my grin but i can't help it. our president just can't win with america's media. that is appalling. >> well, 93% of the coverage has been negative and i just have a reminder for the media. he's your president, too. this is our president. this is our country. we are celebrating the anniversary, 75 years of d-day. this is the time where we should be celebrating our president, the great achievements of america, and i don't think the american people like the constant negativity. there are times where we should be lifting up our president especially when he's overseas. stuart: we ought to take a look at their ratings. not doing well. not doing well at all. >> i see it across the country, people say to me why are they so mean to him, he's trying so
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hard. he's never been given a break but it doesn't stop him. he keeps his foot on the gas, he's so positive because he knows what he wants to do. he wants to keep our country strong and safe and he's doing it every single day. stuart: i don't want to digress too far but the "new york times" this morning writes about the president's sorely ill-fitting white tie and tails at the royal banquet. i have to move on. can you imagine, the "new york times" sinks to that level of criticism, the president's white tail coat. >> there's not other things we can be talking about like our crisis at the border. come on. stuart: i do want to talk to you about that. i do. let's get to that. look, some gop senators are pushing back against the president's mexico tariffs. the president does not have the support of the full republican party at this point. what's he going to do about this? >> i think there is time. i actually was at the senate policy lunch yesterday so i did hear from many of the senators. i do think as you sit with director morgan, who i was with this morning, and he talks about the fact that mexico has a 150
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mile border with guatemala, we have a 2,000 mile border with mexico and the united states. mexico can help stem this tide of illegals coming through their country. mexico has not been a good actor. they have not been a good neighbor. we have tried so many ways to diplomatically engage with them. now the president is saying we have to put economic pressure on mexico because this crisis isn't getting better. 100,000 apprehensions last month, we are on track for a million for the year. stuart: i can see it but it's very sad to see the republican party cannot back up this republican president. >> i think they will get there. i think they need to talk to the president. they are worried about tariffs but the president is taking the action he needs to take because this crisis isn't going away. democrats aren't coming to the table on anything. they know the crisis is there. they have made the decision that they are going to support abolishing i.c.e., sanctuary cities, open borders. it's hurting our country and hurting people trying to come to our country who need a better
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immigration policy and the president is doing everything he can to put pressure on mexico to be a better actor. stuart: thank you very much for joining us this morning. i'm sure it's a busy day for you. see you later. >> thanks for having me. stuart: back to the markets. stocks coming off a big rally yesterday. this morning, we are going up a bit more. look at that. now we are up about 90 points for the dow. even more in percentage terms for the nasdaq. look at this, though. 2.08% is the yield on the ten-year treasury. that's all the way down. want to bring jack hough back into this, barron's senior editor. that doesn't look good. >> that's the number to beat right there. that's your competition. stuart: 2.08. >> know what else is pretty close to 2%? the dividend yield on the s&p 500. you buy stocks here, you get that much dividend. you probably get more because dividends tend to grow over time. even in a world without gains, you are just as well off. i think it's pretty easy for investors to keep putting money into stocks. i think the market moves higher because rates are so low.
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stuart: well, that's a big deal here. you've got rates down at 2.08 on the ten-year, you have only 27,000 new jobs created according to adp in the latest month. that shows real economic weakness. yet you want to put more money into stocks? >> you've got the fed at the same time saying look, if these trade tensions make you worse off, we are willing to cut rates to give more support to this expansion. interest rates are the most powerful force in the financial universe right now. however, i would point out for longer term focus, for 2.25, 2.5 on the fed funds rate, during the last economic downturn they cut rates by five percentage points. how do you take five percentage points out of a starting point of 2.5%? you don't. in other words, there's not a lot of ammunition left to stimulate the economy during the next downturn. the next downturn could be a doozy if it starts from a point of already low interest rates. stuart: you don't see it? >> i don't see it on the immediate horizon. stuart: i mean the rest of this year. >> i think the bulls have more
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to brag about than the bears for the moment. stuart: jack, thank you very much indeed. appreciate it. next case is american eagle, the retailer. they came out with higher sales? i think it was higher sales. they are up 5.7%. that's a nice gain. higher sales, american eagle outfitter. okay. retailer, up 5%. rosy forecast, this is good, rosy forecast from campbell's soup. you do that, your stock goes up. 4.8% on campbell's soup. overall, are we looking at a three digit -- yes, we are. triple digit gain for the dow industrials, up 100, up 500 yesterday, up 100 at the opening bell this morning. look at the nasdaq go, up about two-thirds of one percent. now this. pete rose holds the record for most hits in the history of major league baseball. he's still not in the hall of fame, though. the legend himself, pete rose, will be on this program, sitting with me in our 11:00 hour.
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take that. seems to me the far left has taken over the democrat party. latest example, joe biden. his climate plan includes massive taxes, huge government spending and intense regulation. looks a lot like aoc's green new deal, doesn't it? we're on it. some of hollywood's biggest companies threatening to pull out of georgia over its new abortion law. at stake, 100,000 jobs, $4.5 billion total wages. that story, too. "varney & company" just rolling along.
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stuart: some of the biggest names in hollywood threatening to pull out of georgia because of its new abortion law. those companies are on your screen right now. they are big companies indeed. joining us, congressman rob woodall, republican from georgia. sir, this is not good news for the state of georgia. what can you do about it? >> stuart, this is just another example out of the radical left's playbook. if they don't agree with you on a single issue, they shame you,
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they try to ruin your career, they try to ruin your livelihood. this is an issue for georgia voters and for some of these companies that are doing business in the middle east, doing business in china, to suddenly say georgia is unworthy of their partnership, smacks of hypocrisy that you only see with the new radical left. stuart: but sir, what can you do about it, if anything? >> i'm not sure that you are going to see an effort to do anything, stuart. when we talk about georgia as being the absolute best place for movie production in the country, doing more movie production than the state of california, if the big guys have to be politically correct and decide that fighting for life isn't one of their priorities, there are going to be plenty of smaller producers who want to come in and fill that void. stuart: sorry to jump in, but you just caught me there. there's more movie production in georgia than there is in california? is that accurate? >> that is exactly right. not only is there more movie production, it's done by a more diverse team of folks. you come down to georgia, you are going to see a
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representative sample of america in the production business. we started from scratch and we built it into an amazing industry. if folks don't want to participate, they don't have to but they are going to miss an opportunity. it's a business opportunity. it's a business decision. shouldn't be driven by political correctness. stuart: you think they will actually go through with it and withdraw? >> i think it's a lot of talk now. watch the guys who are saying you know what, we are going to keep doing business there because it is a great place to do business, and if we don't like the issues, we will fight them on the political playing field instead of the business field. that's exactly the right answer. that's what america expects. if you don't like ideas, fight them in the court of public opinion. you don't have to shame your opponents for standing up for what they believe in. stuart: got it. representative rob woodall, republican, georgia, thanks for joining us, sir. now, interesting story here. look at that.
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that's russia, they test-launched that new hypersonic missile. first of all, what is that hypersonic missile do? ashley: it's an intercepter missile system so if someone is firing at you, you respond with this. apparently it's with precision unmatched by any other country's system. the u.s. used to lead in the technology of these hypersonic missiles but that technology has kind of drifted away. now russia and china, by the way, both very much more advanced in this. it can be launched from the land, the sea. or the air, for that matter. it flies at nine times the speed of sound. stuart: whoa. that's about 6,000, 7,000 miles per hour. ashley: yes. and the precision is unmatched. stuart: and we don't have this? ashley: we do not have this, no. this is purely a defense system. stuart: they've got it, we don't. wonder what trump's going to do about that. we shall see.
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back to your money. look at this. we will be up about 120 points on the dow industrials. just a few minutes from now. encouraging trade news and disappointing jobs report which makes people think well, yeah, the federal reserve is going to lower interest rates for sure. up 115 for the dow. james holzhauer, remember him, he's facing a big tax bill. he won more than $2.4 million on "jeopardy." just wait until you hear how much he's got to pay to the irs. a lot. jeff bezos putting down some roots in new york city, maybe. we are going to tell you how much he's paying for a fifth avenue condo. big bucks. i can assure you of that.
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stuart: you better take another look at gamestop. it really is falling out of bed. they cut their dividend and we hear that one investment company has cut their price target to $6 a share. late to the game, i'd say because it's now $5.60. elon musk says tesla's futuristic pickup truck will outperform a porsche 911. okay. that's what he's saying. wedbush tesla analyst dan ives joins us now. welcome back to the show. last time you were on, you issued a code red for tesla
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stock. you said it was going down a lot. well, it's come back up to nearly $200 a share. what are you saying today? >> i think it's still a glass half empty in terms of if they hit numbers this quarter and second half profitability. that continues to be the issue for us and the word for investors. right now this is still a flashing yellow light. stuart: it's not something you would recommend buying at this point? >> no. in our opinion, i think there's more bad news on the horizon. there is some sort of short covering going on here. we continue to view this as dark days ahead at tesla. there are still some inside that think they can hit numbers but right now it's an uphill battle for them to have profitability in the second half. stuart: interesting. last time you were on the show you said it was a kilimanjaro type climb back. now you say everest type climb back. in other words, things have
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gotten worse. >> yeah. in my opinion, this continues to be a major challenge. it's not just competition. it's really about ultimate demand in the u.s. and what they have baked in in that business model to hit profitability in the second half. it continues to be a leadership progress position but you look at the pure math, the math does not lie in terms of numbers. that's why right now it's all hands on deck for them to hit numbers this quarter. stuart: dan ives, thanks very much for being on the show. we do appreciate it. next case. amazon chief jeff bezos putting down expensive roots in new york city. how much did he spend, is that the condo he's buying? susan: apparently so. yes. stuart: how much did he spend? susan: $80 million. that's how much $80 million will buy you in the city. largest property deal south of 42nd street according to real estate agents. new york city has been attracting a lot of money this year. take a look at this condominium,
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three floors, 17,000 square feet, 12 bedrooms and you get a private elevator as well. he bought the penthouse which was supposedly at $58 million, down from the asking price of over $70 million and bought two adjacent apartments and combined them. property prices coming down, billionaires putting in money. stuart: okay. stock market's going up. thank you, susan. when we open this morning, we will be up another 130 points. nice solid gain for the nasdaq as well. we'll be back with the opening after this. i'm working to keep the fire going for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪
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stuart: the "jeopardy" champion james holzhauer has got a whopping great big tax bill. how much? susan: $1.2 million. as they say in life, nothing is guaranteed except death and taxes. holzhauer was -- he basically missed the record just by $58,000. okay. but he's a nevada resident, films in california so he has to pay california taxes and income taxes above $1 million in california, 13.3%, add to that the federal tax and he owes around 47.6%. stuart: i would love to ask him, how do you feel about knowing so much and losing so much to the government.
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what role did the government play in his correct answers to all of those questions? susan: how about giving him the opportunity to live in this great land and being on "jeopardy." no? don't you have to pay for that? stuart: you have been bailed out by the opening bell of the market. we are off and running, ladies and gentlemen. you got the buzzer. we are up 117 points right from the get-go. look at that. 25,400 is where we are. a half percentage point gain and still rising for the dow industrials. how about the s&p. it is broad-based. up .57%. it is broad-based. i want to see that nasdaq. i want to see it real bad. yes, look at it go, up three-quarters of one percent. another big rebound after yesterday's big rebound. 2.09%, the ten-year treasury yield, all the way down to that low level. where's the price of gold? still around $1300? oh, up some more. $1342 per ounce.
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those coins you bought for the grandchildren are getting more valuable. mine are. look at the price of oil. where are we on oil? at $52 a barrel, down another 1%. i've got to expect gasoline to come tumbling down any time soon. ashley: don't hold your breath. stuart: all right. who's with me? shah galani, susan li, ashley webster, joel is back. joel, positive developments at the federal reserve, positive news on trade, does that merit the kind of rebound we are seeing? >> we took a big hit in may and are having a slight rebound back. we will stay within range for a period of time until we made sense of the trade deadlines and see what happens with interest rates. stuart: hell of a rebound. >> it was a big rebound but we had a big drop in may. stuart: hold on a second. shah, you were the man who said we will be down 10% if we don't get a trade deal. >> we are down 6%. we are getting close. the federal reserve came in and saved the day. i don't think we are out of the woods yet. if the trade talks with china
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continue to be at a stalemate, and nothing happens, no resolution with mexico trade deal or trade tariffs, if you will, i think the market will continue back down. there was a lot of short covering yesterday. the fed statement is really what moved the market. we are not out of the woods, in my opinion. susan: you're right. stuart: miss li is waving her hand. susan: i'm a capitalist. i will tell you what capitalists are saying today. shah is right, we need consolidation to prove this rally has legs. looking at all the brokerage notes in terms of what they think the impact will be if we have these tariffs continuing for the rest of this year. bank of america says if chinese tariffs are included, we are down 1%, maybe 1.5% on earnings. goldman says down 2% for earnings in 2019. not a lot. stuart: profits come down if we don't get a trade deal. susan: single percentage points, so it's not the end of the world. especially if the fed says we will cut interest rates in reaction to any bite in the economy. i think this might be a buying
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opportunity. stuart: collapsing stock of the day, bricks and mortar video game retailer gamestop. they have halted the dividend, revenue way down, slowdown in video console sales. the stock is off 30%. joel, is gamestop dead? >> i think it's a death spiral. we were talking about it a couple months ago, with you and ashley. by the way, two months ago they were a $15 stock. now they are closer to $5 so they are down two-thirds in that period of time, down 90% the last five users. this company is dropping their margins. they have long-term debt. they have $1 billion long-term debt. their margins are way off. moreover, with everything being beaten up on this company, the c.o.o. last year took a 300% increase, the number two guy took a 200% increase. this is not a company where executives should be increasing their salaries by two and three times. this is a company that's going straight down, the cash is off over $1 billion in the last year. i think they are in a death spiral. stuart: i think it's the blockbuster video of 2019.
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that's just opinion. okay. we've got the dow up 133 points. three minutes into the session. not bad. a half percentage point gain. i'm not sure i understand this but i will tell you the story. two app developers are suing apple over its app store practices. susan: makes sense. stuart: they say the app store is anti-competitive. susan: you pay 30% commissions to apple, being on the app store, and 15% on subscriptions. yes. where else you going to go? stuart: i see the lawsuit and i see the stock go up four bucks. okay. totally different company. campbell's soup. don't talk about them very often but they just issued a rosy forecast. i didn't think we were eating soup out of cans any longer. we are now. we are up 5%, 6% on that stock. the clothing retailer, american eagle, better sales coming from them. they are up 5.5%. look at vera bradley. i know this company.
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they make handbags and luglugga. they are up 5%. rosy forecast from sales force as well, up 2.6%. how about bitcoin? no rosy forecast there. no, that thing is up $200. $7,700 per coin. big tech, check them out. always have to check these guys. they have been under some pressure recently, especially those three. amazon, facebook, alphabet, they bounced back a little but not all the way back. joel, is there any move afoot which you see coming down the pike which would break them up? not fine them but break them up? >> i don't know about breaking up but i do think regulations are going to make them more inclined to buy back stock like apple did a few years ago. i think facebook, which is already more or less saturated the marketplace, is going to have a tough time to grow anyways. it's going to be hard for them to do acquisitions going forward. i think fewer problems than amazon and netflix, but so for
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the most part, i think the stock has been beaten up. they are down about 16% in the last month or so. but i see when the next earnings announcements come out they will bounce right back. stuart: bounce right back? >> i think they will. stuart: what do you say, shah? >> i see more trouble for facebook and alphabet than amazon. i think in terms of antitrust, facebook obviously commands that space and just as much as alphabet does. amazon, on the other hand, is famous for reducing prices. i think that's good for the economy. i don't think any argument would make sense if what they are doing is lowering prices across the board, across the economy. that's going to be a tough sell in terms of coming up with anything against amazon. the other two, i see fairly easy cases against them. stuart: easy cases. >> i think so. if you really look at the commanding position they have in the marketplace for what they do, no one -- there's no one even within, you know, a hundred yards of them. stuart: interesting. if they lay an antitrust case on
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them they have huge problems. susan: stocks are not trading like that's going to happen. >> you think back to what happened with microsoft years ago, it took them out for about ten years. but they are back strong now. i think facebook, of the group, i think they will have the most trouble for a variety of reasons but the others i think will be fine. stuart: let's move on. interesting story from cvs. they are planning on changing 1500 stores, turning them into what they call health hubs. health hub locations. they are going to do this over the next couple of years. instead of selling things like candy, greeting cards, that kind of stuff, these stores will offer health services. medical testing, health clinics. yoga classes? >> yoga classes. blood testing, diabetic testing. stuart: good idea. ashley: 20% of the space within these stores are being devoted now to this. a health hub. they have a trial store in houston. apparently it's gone very well. they hope to have 1500 of these stores by the end of 2021.
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stuart: if you think what a pain in the neck it is to go see a doctor as opposed to walking into a cvs almost like a clinic situation, it's a minor ailment, i can see doing that. >> i think it's a brilliant idea. there's a space for items that are not selling so well like greeting cards, they are using that space. stuart: the stock is down. >> because of the purchase of aetna. they have the debt load at this company is massive. that's what investors are afraid of. if you want to take a little play, it's pretty good. they are at the bottom. $51 and change is the low. not a bad spot to get in right here. stuart: do you own it? >> no, but i'm hard looking at it. yes. stuart: really? >> yeah. i think it's got a good upside to it. 10%, 20% upside if the market continues to hold in here. susan: wow. stuart: i will be intrigued if shah moves the market. bernie sanders wants walmart to pay its workers a living wage, all of them, and he's going to
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the walmart shareholders meeting to tell the company that's what he wants, and that's what he should do. didn't affect walmart stock at all. you're not interested? >> no, not at all. stuart: you don't care, do you? susan: walmart is the largest employer in the country. basically bernie sanders is costco and disney is paying $15 an hour, why can't you, especially with your billionaire owners, at the expense of your dollar paid employees. walmart's response is we pay $11, minimum wage, but if you add in benefits and everything else, it's actually $17 average salary that we pay each and every hour but obviously -- stuart: do you think walmart should pay all of its workers a living wage? will you stand firm with bernie sanders if he challenges -- susan: what's a living wage? the federal minimum wage is $7.25 and each state is different. i would say i think each state should have their own rules and
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regulations. stuart: that's a cop-out. susan: pretty good. stuart: on the spur of the moment, that was really cool. susan: thank you. stuart: let me tell you. 9:40, here we go. i'm sorry, joel, you had your say. you're out. see you very soon. check the big board, because not quite the high of the day. but close. we are up 130 points after a 500 point gain yesterday. 25,400 is where we are. next one. the professional boxer will join us in studio in the next hour. he's the new junior welterweight world champion. by the way, he's also a clinical nutritionist. odd combination, isn't it? clinical nutritionist and boxer. beat the hell out of the opposition, then fix them up. i will ask him how he feels about athletes using cbd for recovery. that's an interesting sidebar question, i think. president trump meets nigel farage while in london. farage joins us in our 11:00 hour. what did he talk to the
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president about? i will certainly ask him. i also want to know why boris johnson passed up the chance to meet face-to-face with our president. joe biden, elizabeth warren going even further to the left. both unveiling climate plans that would cost shall we just say astronomical amount of money. you will have to pay. we are asking the question, what is it going to do to the economy? we'll be right back.
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plan as it's called would cost $2 trillion over ten years. biden's climate policy plan, $1.7 trillion over ten years. here's one of biden's new ads. roll tape. >> on day one, i will immediately rejoin the paris climate accord. by 2050, the united states will be 100% clean energy economy with net zero emissions, making these revolutionary changes is going to take an incredible commitment at all levels but i am absolutely confident that's what the american people want to do. stuart: oh, really. i thought joe biden was a moderate. apparently not. joining us, brian westbury who will tell us, let's be serious, what would happen if either of these plans is implemented? what happens to the economy? >> first of all, $2 trillion and $1.7 trillion, way underestimate the cost of what they are proposing. that's number one. way underestimate the cost. before we get to that, the
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united states in the last decade has reduced its co2 emissions. we are the only country that is in compliance with the paris accord. we don't need to join it. it's all because of natural gas. what we have done is we have subsidized wind and solar and i won't argue that the cost of wind and solar power has begun to come down, but it is still way more expensive than natural gas as a producer of nuclear or water as a producer of energy. so when we subsidize losing propositions because they don't make a profit. if they did, we wouldn't have to subsidize them, when we subsidize them, we actually have to tax profitable companies in order to do it. so what happens is they will say we are going to create jobs, and they will in those areas in solar and wind, but they will take jobs from the private sector and the net cost to the economy will be a negative. we will lose jobs, we will lose
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growth, and my belief is that if we really truly try to become zero emission country in the next 20 years, we will have a recession as a result. stuart: okay. that's a pretty straightforward answer. thank you very much. hold on a second. you've got to talk about the stock market. we are up 90 points now, 500 points yesterday. but you still think stocks are cheap. >> right. we are living through a volatile period. corrections in the markets, they just happen. they are designed to scare people and they do. people say who designs them. i'm like i don't know, god, human nature. it's like who designed the flu. so volatility is the price investors have to pay to create wealth over time. think about warren buffett, he's not a trader. he's an investor. he's become one of the wealthiest people on the face of the earth. so we have to live through this volatility. i would argue the volatility today, a lot of it's coming from worries and uncertainty about trade. i do agree with that.
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but through all of this, corporations continue to boost profits. their margins are super high because we use technology to lower costs, increase productivity and efficiency. stuart: so stocks are cheap. >> i think profits are going to grow 9% to 12% this year. when we look at our capitalized profits model, it says stocks are 20% undervalued today. then you add on 9% to 12% corporate profit growth, we could see 30% gains in the market over the next year or two. stuart: whoa, whoa, whoa. 30% gains? i'm trying to do the math here. $25,000, add on -- over $30,000? >> i think in the next five years we could hit that. remember when it was down 36,000? i don't think that's impossible in the next five years. stuart: 20 seconds. no recession this year? calendar year? >> i do not believe so. i don't think the fed needs to cut rates. 2.4% is not a high interest rate. there's not one bit of economic activity -- stuart: 2.4%.
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>> where the fed is holding the federal funds rate today. i mean, is that really affecting economic activity? is somebody not doing something because rates are too high? on top of that, we have 1.5 trillion of excess reserves in the system. so there's no way that you can say the federal reserve is tight today. that's not what's causing this volatility. corrections just happen. stuart: look, we have you on videotape saying the market goes up 30%, over 30,000 on the dow within the next couple years. >> yes. stuart: putting that on videotape, you're comfortable? >> absolutely. stuart: your reputation is at stake. >> for the last ten years i have been bullish and nobody's believed me. i wouldn't expect that they are going to believe me about the next two years either. stuart: we always treated you well. >> you have always been kind. when i say nobody, it's not you. but it's a hard sell because everybody wants to be negative. they just want to be negative.
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the last ten years, you know, i love it. the market climbs a wall of worry, so bring on the worry. the more worry, the happier i am as an investor. stuart: brian westbury, thank you. see you soon. again, back to the market. check the dow 30. vast majority of those 30 stocks are in the green. they're up. the dow is up triple digits this wednesday morning. a lot of business groups coming out against president trump's tariffs on mexico, and elsewhere, of course. but next, we have the head of a large manufacturing group and he supports the tariffs. he says short-term pain is worth the long-term gain. he's with us after this.
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stuart: we've got the dow industrials now up about a quarter of one percent, 73 points higher. that's where we are at this point. but i've got some news on trade, which i would have thought would have been positive for the market. here it is. trade adviser peter navarro told cnn that tariffs on mexican goods may not have to go into effect because quotes, we have the mexicans' attention. okay? that just came to us. it's not -- i would have thought that would affect the market positively. it's not had an impact that way
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at this point. as you know, there's plenty of manufacturing groups that are dead set against tariffs of any kind. thoroughly oppose them. however, we found a manufacturing group that is not opposed to tariffs. john is with the georgia association of manufacturers. welcome to the program. >> thank you. stuart: let's refer primarily to china tariffs, okay, because that's the big thing here. now, you don't object to the imposition of these tariffs. everybody else does. you don't. why? >> well, we have a lot of manufacturers on both sides of the aisle. we represent those and we are a great advocate in our state but for the most part, we don't object because our companies who are manufacturing products that are made and the tariffs have gone up, they understand the pain is a price to pay in order to be competitive with china and india long term. stuart: some of your guys have experienced pain from the tariffs that's already been imposed? >> we have experienced pain and we want to continue to fight the hard fight in order to overcome this and have a long-term
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strategy and plan that we can be sustainable. stuart: you think it's worth it? you think if we get a deal with china in the long run, that will be worth the pain that your guys are suffering now? >> i would say so. i would say that if we can get a long-term strategy that continue to make us competitive where we hold these jobs, manufacturing is a great base, not only in the state of georgia but across the nation. we are developing a stronger work force, we are making a better america for tomorrow, but we have to stand up and fight today. stuart: well, how come georgia is doing so well on the manufacturing front? i don't think of this as a manufacturing state but you tell me why it is. >> we are a great manufacturing state. and one reason we are advocating for great manufacturing is we felt the pain in the past from bad trade deals and we will talk about nafta if you want to talk about that and the news you just came out with, what peter navar navarro. but right now we are focused on good infrastructure with energy, broadband, we are working to continue to develop better work force. we are bringing people into our
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state, we have blue skies and nice high trees, pecans and we manufacture great products in georgia. stuart: okay. john, thank you very much for being with us today. we do appreciate it, sir. i want to get back to the market, because that news from peter navarro has had at least a modest impact on the market. what he came out with a statement, he said tariffs on mexico may not have to go into effect because we've got their attention, when he said that, the dow was up 70. he said it, now we are up 100. i think it was a positive impact. all right, coming up my take on president trump's trip to britain. i think it's been an economic and diplomatic success but you would never know that by watching our media. just wait until you see what the british newspapers are saying about trump. they are warming to the man. good. tourism boom in chernobyl of all places? we will tell you why adventure seekers are flocking to the site of one of the worst nuclear disasters in history. hour two "varney & company"
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stuart: 10:00 on the east coast. i think it is about 7:00 in california. we're getting trade headlines, good ones i think, from mexico's president obrador. susan, do you have news for us, please? susan: he is optimistic an agreement can be reached in trade talks in washington, d.c. obrador says mexico wants to maintain unity with the u.s. that comes off statements from peter navarro, trade visor. he says the tariffs may not go into effect. market back up triple digits. stuart: we'll take that. we got breaking news, on i think the services sector. ashley: yes. stuart: have we got it in yet? ashley: came in 56.9. which was better than the 55.9. we were in a bit of a slide
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going back since february on the services sector. we hit a 21-month low in april, rather. this is combback for the services sector. this is more encouraging because it had been sliding. stuart: look what is happening in the market. positive statement from mexico's president. positive statement from peter navarro, trade guy. lower interest rates. dow jones industrial average is pretty much close to the high of the day. picking up momentum. up 500 yesterday. now up 140 points. big gains across the board for the stock market. now this. the state visit to britain was a success. a big success. you would not know that if you relied on america's media for the information. we'll deal with that in just a moment but consider this, britain's royals put on a great show for our president. you know what? he seemed to like it. seemed to enjoying himself, even with prince charles, the climate change warrior. the british media acknowledged
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the warmth. they're starting to like the guy. it was a diplomatic success too. president trump put new life into the special relationship. by the way that is an expression that president obama tried hard to avoid when he visited. president trump called it, the greatest alliance the world has ever known. oh, so true. remember d-day, 75 years ago, the alliance liberated europe. it was an economic success too. president trump suggested a phenomenal trade deal with tremendous potential. at the news conference, prime minister may enthusiastically agreed. the brits want this. they need it. so where were all the protests? muted, to say the least. instead after a quarter million protesters, there were just a few thousand. the insulting dump trump innatable toilet looked more like juvenile bathroom humor than political biting comment. opposition leader jeremy corbyn tried so far to fire up a
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bedraggled crowd and failed. there were several headlines like this, in "the sun." treasured friendship. trump in tribute to great, great queen. i'll tell you, they are starting to like him. but not america's media. oh, no. they just can't lay off the contempt, can they? network coverage focused on the protests. their reporters clearly finding it very difficult to explain the very small turnout. and this morning's "new york times" sinks to this level of criticism, describing the buckingham palace bank yet, quote, the president grinned happily in his sorely-fitting white tie and tails and, quote, he waded shamelessly into his hosts affairs. how weak. and there was virtually no mention of the first lady who clearly overpowered everyone with glamour, glass and charm. i think americans like to seat president shine and shine he
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did. the second hour of "varney & company" is about to begin. ♪ stuart: you want some more evidence that the brits are warming up to our president? i've got it. look at this the headline from "the financial times." i have to tell you the financial times is a trump hater bar none. nobody detests trump more than "the financial times." what do they say? trump hails common values, uniting uk and u.s. i like that. how about the bbc? quote, donald trump praises eternal friendship at state banquet. "the daily mirror," tabloid, left-leaning, trump tells queen our fight is against evil ahead of d-day commemorations. i think it is time for liz peek, foxnews.com column it. you get a totally different picture when you look at america's media coverage, don't you? >> maybe we should start
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subscribing to the british newspapers. look, americans, the liberal media in america is scared to death that president trump is going to get reelected in 2020. that is the entire sum and substance of their resistance to this president. they are terrified that the economy is going to continue to be strong. they put out every single negative piece that they can find on the economy, hoping to dampen sentiment because it is consumer sentiment that is driving not just spending and the economy but by the way, rising approval ratings for the president. so what do they do to combat that? obviously they try to take him down at every possible turn. what americans really like is when president trump looks presidential, whether he is addressing both houses of of our congress or whether he is traveling overseas and what was obviously an incredibly good rapport with queen elizabeth, by the way is a pretty crusty lady. she does not suffer fools gladly. she does not go out of her way
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to be genteel and friendly and warm to people she doesn't like. we've seen that before. it is true. i thought this was a home run. i thought the thing you mentioned about melania trump was absolutely spot on. she was gorgeous. she was totally perfect in terms of her behavior. stuart: classy. >> totally classy. you know at the end of the day our liberal media has characterized our president as offending everything to do with the establishment. there is nothing that symbolizes establishment more than the royal family in great britain. that is the quintessential establishment, right? that he could succeed in that arena, actually win accolades from the very snarky british media is extraordinary. good for him. i thought all americans should be proud. we'll have another day today because of the accolades and remembrances about d-day and the great sacrifices made by both of our nations. stuart: it was also so gracious
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with outgoing prime minister theresa may. gave her real support. she had teed up the brits getting out of europe. that wasn't strictly accurate i don't think. >> he has been critical of her efforts as many of us have. seems always that she was playing defense. a lot of us thought, wait a minute, the eu needs britain as much as britain needs the eu when president trump talks about i would have sued them or i wouldn't pay the 49 billion pounds, whatever, i think that's right. for him go out of his way to be generous, the words poor theresa may comes to mind, she as really put her all trying to create a deal that was fair, that got them out of the eu as voters wanted. by the way, when we're talking about how unpopular trump is in england, remember they voted for brexit, right? they voted for conservative
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governments. london doesn't like him. like if he comes to new york, guess what? bill de blasio doesn't like him. sadiq kahn doesn't like him. new yorkers are pretty liberal. they don't like him. everywhere else in the country he is doing very well. stuart: i think he is doing very well. liz as always appreciate it. let's get back to your money. we have come down a little. we were up 140. now we're up 100 points. there is positive trade news vis-a-vis mexican tariffs. we're up 103 as we speak. i want to bring in george see annandale you have a great voice from texas. >> by the way hail britain yaw. stuart: what was that? >> hail birtannia. with all due apologies to the united kingdom and sir sean connery. stuart: shall we talk about the market? i read your stuff. you're the one that says the market looks unhealthy.
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what is wrong with up 100 points now, 500 points yesterday? >> that is a blip. it has been down six weeks in a row. yesterday's rally was manic, a sign of a bipolar market. there are some things working against the market. investors would be wise to be wary and have their -- i hear that. stuart: you think, look at me. okay, i'm 70 years old. i've got a position in microsoft. i've made some money. should i sell? >> not microsoft. microsoft is a 10-year hold. stuart: what about our viewers? a lot have done pretty well investing in american stocks the last few years. should they sell? >> they should not sell. buy stocks paying healthy, generous dividends to offset market turbulence next several years. stuart: you have been watching the show. that is what i said to an investment manager yesterday. what is wrong with selling out of some stocks you made money on, put them in dividend yielding shares? >> far be it from me to say
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great minds think alike. i will say it anyway, a strong dividend pay you like? >> i like at&t. entaro midstream, pays 10%. stuart: what is the name of it? >> antaro midstream. it has strong balance sheet. it yields 10%. it has huge infrastructure in west virginia, pennsylvania, ohio, the backbone of the marcellus shale play in the eastern u.s. stuart: 10%? >> i like kinder morgan. yields 5%. incredibly well-managed. if i were investor look at kraft heinz, it is off 65, 70% from the all-time high. it yields nearly 6%. it is universally hated. i like stocks stocks that are universally hated. stuart: i don't want to see the stock fall out of bed. >> your cash flow covers it two times. stuart: i have a little bit of at&t. it is paying me 6% at the moment. is it safe? >> it is safe. stuart: loaded up to the gun
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nels with debt. >> most levered company in the world. randall stevenson has to pay down the debt. stuart: my mon sy is safe at 6% dividend? >> that dividend is covered 180%. stuart: ote are. o midstream. >> 10%. raised dividend. raised it 40% this year. stuart: the stock symbol is? >> a-m. apple, mary, george, you bailed yourself out. keep that voice. >> i'll do it. stuart: legendary player pete rose despite a successful career he can't get into the hall of fame because he gambled on the great many. does he think that ban will be overturned? i will ask him directly. he is on the show in our studio, 11:00 hour. pete rose coming up for you. ahead russia tested a
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hypersonic missile. flies nine times the speed of sound. should we be worried? does our military have a weapon that can counter this thing? good story. we're on it. pro boxer, junior welterweight champion, chris algeri, would you believe he is a clinical nutrition it, as well as boxer. how does he feel about athletes using cbd or even thc for relief? i will ask the guy. what do i know about boxing? we'll be right back. ♪ i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪
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yesterday. how about gamestop? it is halting the dividend, big slowdown in videogame sales. people are asking why on earth would anybody want to go into the place. the stock is falling out of bed. down 35%. can play the organ music for that one. look at apple, tim cook does not see china targeting his company in the china trade fight. it is up 3.50. 183 is the price. now this, our guest, the new junior international welterweight champion. he beat tommy coyle at last weekend's fight. his name is chris. kristina: algieri. >> thank you. stuart: you are wearing dark glasses. there is reason. look into the camera. i want a close-up. he hit you bad. >> it's a fight. but i won. you should see the other guy. stuart: this is a financial program. you know what is coming.
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how much did you win? >> we did all right. we did all right. stuart: i want dollars,. >> close to quarter of a million dollars. stuart: straight payout of quarter of a million dollars. but the next fight as the champion you go above million presumably? >> that is the goal. we're looking for, we're in negotiations for the next fight, what it will be. financially should be a pretty hefty one. stuart: you're a made man. >> i have to work hard for this. you have to earn. stuart: where do you actually live? >> i actually live on long island, where? >> long island. stuart: move. you don't want to live in new york. >> i have a place in florida. probably will end up down there. stuart: got to go fast before the tax guys get you. you're a clinical nutrition it. >> yes, sir. stuart: i find that very interesting that a boxer should be a:nal nutrition it. what about the use of cbd to treat athletes injuries, does it work? >> there is a lot more research needs to be done but preliminary
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hearings, anecdotal evidence people i've spoken to there is really good results. guys love to use it getting banged up during training. stuart: you would? >> i would and i have. stuart: you get, what is the right word, you get inflammation. >> inflammation. it is anti-inflammatory. stuart: it works for that? >> that is what it is purported to do. stuart: have you used it? >> i have. stuart: does it work for inflammation. >> 2 does. stuart: for you? >> uh-huh. stuart: illinois accepted recreational marijuana as in thc. >> wow. stuart: does some athlete use thc, either to relax or whatever. >> yes. stuart: what do you say about that? >> that i'm actually against. stuart: why? >> because it is performance-enhancing drug. dealing with stress using psychoactive substance, deal with the stresses that is part of what makes me a great athlete i can deal with the stress leading up to the fight without using any drugs. stuart: you don't use it yourself? >> i do not, no. stuart: do some boxers?
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>> for sure. stuart: to lower down the stress levels? >> a number of reasons. might use it recreational. i have spoken to fighters who use it because it does help them relax. stuart: yes on cbd. no on thc? >> that is my stance. stuart: chris, congrats. i will try to pick this up. >> it has some weight to it. be careful. stuart: that has to be 20 pounds. >> it is heavy. stuart: it is beautiful. >> thank you. stuart: congratulations. it is terrific. on the show, you're a good man. thank you very much, chris. good luck for the next fight and the next paycheck. >> next paycheck. stuart: get the hell out of new york. >> yes, sir. stuart: big changes may be coming to a cvs store near you in the future. they're turning 1500 of their stores into what they will call health hubs. medical testing, medical checkups, no more of these greeting cards and candy, no. what do doctors think about that? we'll ask one, dr. marc siegel
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of course. he is next on the show. why are tourists flocking to the site of the worst nuclear disaster? that is chernobyl you're looking at. people are flocking to go there. i don't know why but we'll tell you next. ♪ thanksno problem.. -you're welcome. this is the durabed of the all new chevy silverado. it looks real sturdy. -the bed is huge. it has available led cargo area lighting. lights up the entire bed. it even offers a built in 120 volt outlet. wow. plug that in for me. whoa! -holy smokes! -oh wow! and the all new silverado has more trim levels than any other pickup. whoa! oh wow! -very cool. there's something for all of us.
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absolutely. it's time to upgrade. (laughter) they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier.
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adding 20 points to the dow's gain because apple is a dow stock. president trump and the first lady arriving in southern england. that would be southhampton. they are about to board marine one which takes them back to london. then on air force one -- that's right. susan: air force one. stuart: that is right. he is not going back to london. producers are right. he goes from southhampton on air force one to shannon, major airport in ireland where he will have an airport meeting with ireland's prime minister. ashley: yes. stuart: i want to get this right. terrific state visit by our president. i don't want to mess things up. let's get it right. >> you were born there, stuart? stuart: so i'm told. i was, i was, long time ago. cvs, they are going to turn 1500 of their stores into what they call health hubs. not the traditional pharmacy
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anymore, check on medical testing, health checkups, i'm told yoga at these fa vilts. marc siegel with us. i would thought the interests would not be very happy, competition taking it away from you. what do you think? >> depends on how it goes. i like it. it is a gap, stuart. patients that get sick don't always know where to go. emergency rooms are clogged. there are not enough urgent care centers. cvs focusing on chronic illness. 90% of all health care dollars, 90% is spent on chronic illness, i did not understand it. focusing on chronic illness. >> correct. stuart: i would have thought you go into the health hubs for minor sore throat, headache? >> that is traditionally. they have respiratory therapists to measure asthma, diabetes, your blood pressure. the information they collect i
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have a question. they will have nurse practitioners to examine you. they have laboratories there to check your blood tests. i'm fine with all of that they bought aetna. if that goes through they will use aetna insurance at this. others insurers will be competing, have to pay up too. so it's a model intended to make cvs money. they lost money last year. i like it, because again, patients can't always get in to see their doctor. i like that information will be gathered at cvss. built up, health hubs but the information better get to me. if it stays there it will influence quality of care in a negative way. stuart: fair point. you're not opposed in other words? >> i'm for it and done carefully and information is integrated. stuart: makes it easy to get to. thank you, dr. siegel. i hope you stay in business. >> i hope so too. stuart: how about nigel farage? he met face-to-face with president trump in london
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yesterday. i want to know, what did they speak about? will he tell me? i don't know, i will certainly ask him what did you speak to the president about. back with the beatles after this. ♪ see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade 2,000 fence posts.
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can the past help you write the future? can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company ♪ stuart: slightly slower version of "revolution." they have two versions. kind of like it i guess. susan: so-so. stuart: something more upbeat for tomorrow, please? nice market rally. sun is shining. let's go. we're up 90 points on the dow, just about that.
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we've been all over the place this morning. positive news on trade with mexico. we're up 150. now we're up 85. breaking news, here it is inventories of oil. how much oil have we got in storage? ashley: a ton. we're up. stuart: oh. ashley: a build of 6.77 million barrels. we were expecting a drawdown of a million barrels. we're sloshing around in it. this will put pressure on oil. stuart: the price is 51. ashley: dropped below 52. stuart: not that long ago it was 65, 66. ashley: we were talking about 70. stuart: my conclusion the price of gas has to come down real fast. ashley: never works opposite way around, does it? stuart: i want $1.99. ashley: don't we all. stuart: i'm not going to get it. serious stuff now. russia has tested a new hypersonic missile at a launch site in kazakhstan. you can see it.
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joining us christian whiton, former state department official. what is this thing use for? >> this is anti-ballistic missile. it is used to shoot down ballistic missiles and potentially aircraft. mostly a missile defense system. stuart: have we got anything like this? >> take the russian, the specks that they provide with a grain of salt. they often overstate the capability of their sims. yes we do have very advanced weapons. thad very high altitude aerial defense. we are frankly behind the chinese and russians what is called hypersonics. what this russian system is purportedly is extra manically fast systems. stuart: why are we behind? >> we didn't invest particularly the obama years and took our eyes off the balls. we focused on ground operations,
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counter insurgency. we're a little bit behind in nuclear weapons and in high-tech systems like this. stuart: would you expect presidential tweet tweet that we have to get back on track to beat the russians? >> the president achievedded a lot achieving the budget. the budget is $6,750,000,000,000 a year. a lot of that has gone into operations and critical maintenance. if you look at size of our force posture. aircraft carriers, satellite, submarine systems it is same it has been for some years. that is another part of our military is broken. frankly procurement of systems. stuart: i want to introduce a discussion on the mexican trade and tariff information. listen to this exchange i had with former mexican ambassador to the united states. roll tape, please. >> i don't think you accommodate a bully, having said that, if
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75,000 reported central american migrants is not enough i don't know what will be. stuart: wait a second, sir. you just labeled our president as a bully when we have thousands of people per day walking into our country from your country? we're a bully? >> yes, you are. stuart: i would disagree with that, sir. it moved on from there. look president trump, mexico's president just said he is optimistic an agreement can be reached today. it looks to me, christian, mr. trump's tariffs really did get their attention. maybe if we are a bully, it "borked." what do you say? >> yeah. so far the mexican foreign minister is it washington today. he will meet with vice president pence and secretary of state mike pompeo and other senior officials, hopefully they come to a deal. what brought us to this point it is worth remembering, congressional inaction on simple measures like the wall, revising some of our laws as they pertain
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to refugees and other immigrants. this is fallback measure but one that worked pretty well. if mexico knows what is good for it, what is good for our relationship, they will accede to two or three top things the administration wants. stuart: i'm reading the tea leaves here, they look positive vis-a-vis mexican tariffs. mexico's president saying it is positive. peter navarro is saying we may not need to put them into effect because we got their attention. a lot of republicans oppose the tariffs in the first place. seems like the tea leaves are gathering for a good deal on this one, fairly soon, you say yes? >> yeah. the deadline is sort of monday the 10th. that may slip. president seemed to indicate there is fudge base. there is not a draft federal register statement how the tariffs would be implemented. i would say things look pretty good. not helpful congressional republicans attempted to undermine the president, but congress understandably under pressure from business to act out on this.
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stuart: got it. christian white ton thanks for joining us. get back to the president's state visit in britain. edward lawrence joining us. you spoke to europe's top trade guy right at the top. what was the message? reporter: in an exclusive interview dr. liam fox says they can't officially negotiate but they have a group that lays out a framework. the president would like a deal soon after brexit is announced but dr. fox says that's a great thing but the ratification will take time. >> it would be a boost to get access to new markets. it is also a boost to our consumers f we get greater consumer choice, better quality, at improved prices. reporter: but he says it is not going to be the two or three times the president had said yesterday the trade deal would be. the uk wants greater access to
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u.s. agriculture. he wants tariffs to come down. ceramic tariffs coming into the united states are 28% tariff. he would like to see that down. on digital front, digital data is a big issue. he says the uk would be more lenient towards digital data, towards digital data companies than the european union. back to you, stuart. stuart: edward, thank you very much right there in london for us. on a related note, according to a "reuters poll," 90% of us americans have a favorable view of britain. 90%. nice number, i have got to say. i felt that warm embrace myself. robert moran, brunswick group partner. okay, robert, what is the other side of the coin? what do the brits think of us? do you have information on that? >> i do. keep in mind that the u.s. and the uk do have a long time special relationship but if you look in the uk in public, at public opinion, 50% of britains
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have a positive view of the united states and that is down from 66% in 2014. and the president's image in the uk is 21% favorable, 67% unfavorable. the audience should understand, you see this all around the world, when the president's brand is very strong internationally or in that country it tends to pull up the american brand in that country. likewise, if it is weaker, it tends to pull down the american brand in that country as well. stuart: but you're getting your numbers from before the state visit, before our president was with the queen and the prime minister and all of the pomp and circumstance? so you're numbers, i'm not saying your numbers are dated but i do want to know if you think maybe there is a nudge upward in the way the brits feel about us after the state visit? >> well i think it is important to differentiate how brits may feel about americans generally
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versus sort of the united states when you ask it in a survey question or the president when you ask it in a survey question, you know 829,000 british subjects live in the united states full time. so we have to consider that. but i do think your point is referring to something in polling called the rally effect. where if you have a big event between world lead es or some other event that causes public focus, might spike in a positive way numbers. that is entirely possible that you could see some minor spike in the president's image in the uk and also maybe in the image of the united states in the uk as well. stuart: i would sure like to see that. robert moran, thank you very much for bringing us numbers, we appreciate that. thank you, robert. >> thank you. stuart: you know him. i know him. legendary baseball player pete rose banned from baseball, the hall of fame for betting on the game.
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i'm workin♪ to make each day a little sweeter. to give every idea the perfect soundtrack. ♪ to make each journey more elegant. at adp we're designing a better way to work, so you can achieve what you're working for. stuart: one hundred point gain for the dow industrials. 500 up yesterday. 100 today. it's a bit of a recovery. how about the nasdaq however? that has moved into the red. there is a reason for that, amazon, facebook, google, prominent in the nasdaq composite index and targets of antitrust investigation by the government, they're all down.
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that's what has dragged the nasdaq down too. trade advisor peter navarro says trump's tariffs may not have to go into effect. he says we have mexico's attention. he might be right. top of the hour, mexico's president says he think as deal may be reached today, all positive. joining us indiana senator mike braun. mr. senator, i said to our previous guest, i'm reading the tea leaves here. looks positive for a deal on mexico and a lot of republicans opposed these tariffs in the first place. it seems to be pushing us towards a deal before the tariffs hit on monday. what do you say? >> it is interesting when the president came out. of course border security is more in peril than it ever has been. his interests in using that i think is a negotiating tool made sense. most of us were hoping that is what it was for and that get resolved before it went into place. you know i'm concerned if
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tariffs kind of get put in place, usmca, that masterful agreement that is ready to go through, i think it would put it in peril. i think it might impact the economy but president trump has done a great job negotiating with the chinese, canadians and mexicans and i think here he needed to make a statement that they're not helping out on border security and i'm hoping the tariffs don't need to be used. stuart: if the tariffs against mexico are used, does that put in peril usmca, the new nafta? >> i think it, would put in, a dynamic that may put it in peril. i don't know what the mexican government would do. you never know in this day and age. trump created a new dynamic that improved things, but i think that might be pushing it too far. that is why i'm hoping he gets it worked out today or this
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week. stuart: in general, it seems american business, american business people do not like the use of tariffs. i'm creating a broad brush stroke with this. i think i'm accurate. you came to the senate from business, are you in that category, you really don't like the use of tariffs? >> stu, that would be because i'm a guy that believes in kind of unfettered markets, keep government out of it. tariffs would be involvement, but i come from main street america. i think it is mostly big business that is reflexively against tariffs. i think they have been complaining about their use with china, and the initial negotiations with canada and mexico. i differ there. i think the president was right to use it as a tool as long as we wean ourselves from it like he said he would do, once you accomplish some of those goals. stuart: i think i will ask you this before but i will ask you again, senator, you came to the senate from a plain business
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background. you're brand new to politics. one of the rarities in politics, a guy with a business background. are you enjoying it? >> i think i told you if i couldn't make it a joyful experience i would have never done it and i'm glad i am part of a dynamic here with the president. it will i think shake the system, get rid of business as usual. rick scott from florida, mitt romney from utah, we pretty well doubled the business caucus. we have about six or seven of us now. so that is improvement. stuart: it sure is. mike braun, mr. senator, thanks very much for joining us as always. >> thank you. stuart: sure thing. i have a headline for you which i never expected to see. the headline is, chernobyl is seeing a tourism boom. chernobyl that is. you have to tell me why. ashley: you would think this is one of the last places on earth. it is because of the hbo miniseries quote chernobyl"
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depicting aftermath of the explosion at the nuclear facility, the cleanup operation and what happened afterwards. well-received mini series. people say it is terrific. people say it is great. stuart: is the hbo series -- ashley: driving tourism, people are fascinated by this but some tour companies out of kiev say their numbers have gone up 40%. what you do. you fly to kiev. you get on a tour bus. about 75 miles outside of kiev you get to chernobyl. you spend the day. look around. look at abandoned buildings. the reactor that melted down is now encased in concrete and everything else. they have one strawn there. you can buy a t-shirt. people are absolutely fascinated. the big question is it safe. you go in and out. there is geiger counter, they say the level now is perfectly safe. just as safe as if you stayed in your homes said one person for 24 hours. not quite sure what that means. they say it is safe and monitor
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everything. people are fascinated. susan: highest rated tv show on hbo history. better than "breaking bad" apparently. stuart: that is driving it. susan: that is a miniseries. ashley: got to watch. stuart: good story. ashley: yeah. stuart: how about nucor, the largest steelmaker in america? we have its ceo on the show who says tariffs on china are a good thing. we'll talk to him in our next hour. coming up our own kristina partsinevelos flying in a stunt plane with a navy seal veteran. why on earth would she do that? she is back on dry land on the show next to explain what on earth she was up to. ♪
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stuart: we lost much of the rally. the a one stage we were up 157. now we're up 50. there you have it, all over the place today. kristina partsinevelos, our very own, got a first-hand look the way one navy seal veteran deals with his anxiety, through extreme sports. kristina is with us. wait, wait. let's cut straight to it here. you were going around there --
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>> yeah, it's a 360 loop. stuart: to cure anxiety? >> this is for his way because it stimulates the battlefield essentially. not everybody is as fortunate but for a lot of veterans, when they come back it is very, very difficult to integrate back into normal civilian life, so listen to what brandon webb's store is is about. for most people therapy sessions happen on a leather couch. for brandon webb, it is his 1985 epsilon. he spent time in iraq and afghanistan as a navy seal sniper. for all too many war veterans returning from the military means coping with posttraumatic stress disorder. to combat that, he found flying. >> i get a shot of adrenaline. this is like yoga and meditation. you're forced to concentrate on one thing. you can't think about anything else. it is kind of this mind eraser. >> stunt flying is not his only escape. he loves heliskiing.
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a group of his friend took a helicopter to a dangerous area in the alps. by managing his ptsd he found his return to civilian life easier, he utilized his experiences to successful launch several business. >> i've been able to take the stuff that i love, mix it with my past military background and create this kind of a cool content company that we monetized with commerce. reporter: one of those startups is crate club, a mail-order subscription service essentially navy seal in a box. outdoor survival goods approved by combat veterans. can i get my therapy session with you? >> of course. i don't charge that much. reporter: taking me to the skies over manhattan he didn't disappoint with the adrenaline. doing a 360 leap-de-loop off
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manhattan and flight over the statue of liberty. he says this therapy is not for everybody. it works for him. >> my way of getting into entrepreneurship, flying aviation, taking what i learned in the military. what for me has been a positive way to deal with my own transition. stuart: what i picked up there, he runs a business doing this. reporter: he has crate club. it's a subscription service. they send military packages, even knives, everything you might need in the case of an emergency. it does very well. he has video platforms, everything military related. stuart: he doesn't take people up in the plane to get rid of anxiety? >> he does these contests all the time. if you do this certain amount of time, come up to fly with me. stuart: forgive me from asking, but did you throw up? >> no, i did get a little nauseous circling the statue of liberty. i love flying. no. these guys maybe? ashley: no. stuart: nice story, kristina. thank you very much. do it again. >> with pleasure. stuart: we have a big hour
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coming up for you. joe biden releasing details on his climate plan. sure looks a lot like aoc's "green new deal." i thought biden was a moderate. he's not. we'll be back with that shortly. incomparable design makes it beautiful. state-of-the-art technology makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359/month for 36 months. experience amazing at your lexus dealer. we're on the move. hey rick, all good? oh yeah, we're good. we're good. terminix. defenders of home.
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stuart: i thought joe biden was a moderate. he's not. to get through the debates and the primaries, he's joined the radicals. i thought senator warren was indeed a radical and now i know for sure. she's a radical socialist. i thought alexandria ocasio-cortez would try to take over the democrat party. well, she has. she's won. the far left now runs the show. so first of all, let's consider this. the biden climate plan, just released. it's a dead ringer for aoc's green new deal, massive taxes, huge government spending, pun shalling regulations on energy and intrusive inspections of
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your life by government agents. bet you just can't wait. this from a politician who framed his candidacy in opposition to the far left. to attract the democrat base, joe biden has had to join them. now look at senator warren's newly released climate plan. talk about radical. she would have the government spend $200 billion a year for ten straight years on quote, environmentally sustainable research. plus the usual tax hikes, crushing regulation, green job creation, et cetera, et cetera, et cetera. what have we got here? a democrat party that is charging ahead with radical environmentalism as its headline issue. socialism is laid on top of climate to produce a monumentally bad economic policy. but that's where the democrats are. aoc gets out in front from the left, joe biden has to follow and senator warren has to keep her distance by moving even further to the left.
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the democrats are now the socialist party. aoc has won. the third hour of "varney & company" is about to begin. stuart: who better to react to my little rant there than a former epa official. mandy, i know you're laughing but this is no laughing matter. you spell out for me what you think would be the effect on america of biden's plan, his green climate plan. >> i think you laid it out really well that biden's trying to figure out how to fit into this new extreme party and elizabeth warren is trying to figure out how to be relevant. what it would do to america is what we have seen with extreme socialist type policies which is higher taxes, less jobs, massive new bureaucracies and no actual impact on the environment. stuart: you are a former epa
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official. you know that organization. you know it from the inside. would i be right in saying that most people who work for the epa then and probably now are very much in favor of this kind of green new deal? >> they're in favor of being more relevant and at the forefront of whatever the conversation is with regard to national policies. so they certainly support it in terms of the increased interest but there are some folks there and you've got the political leadership consistent with what president trump expects that is right sizing the agency and ensuring that environmental missions don't -- are not used as a proxy to expand government control, but used to actually meaningfully advance environmental protections which we have. stuart: why is it that no one ever points out that america is the only industrial democracy, the only industrial country, which is actually reduced its carbon emissions very significantly? in fact, more than any other country in the world, we have
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cut co2 emissions. why doesn't anybody point that out? >> we try to point it out but the generally speaking mainstream media doesn't want to hear about it and they don't want to cover it. but the truth is, actions speak much louder than words and under president trump, we have not only continued to decrease our greenhouse gas emissions more than any other country but we have the cleanest air on record, we are drinking the cleanest water and our communities are very safe all around the country. stuart: do we have the cleanest air on record? i don't know how you measure that. you are telling me. do we? >> we do. at epa they have a number of different charts and since 1970, there has been some serious measurements put in place. we have reduced what are called the criteria pollutants, like particulate matter, sulfur dioxide, nasty things you don't want in the air. we as a country have reduced them by 73% since 1970. we undoubtedly have the cleanest air on record and the measurements and metrics to back that up. stuart: i'm so glad you appeared on the show to point that out
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because you never hear that. when did you ever hear that, we have got the cleanest air on record. when do you ever hear that? you never hear that. i'm getting carried away but thank you very much for joining us. we really do appreciate it. >> thank you. stuart: sure thing. check the big board. back up to a triple digit gain, up 110. we have been bouncing backwards and forwards today but high, we were up 157, low just a few minutes ago of up 40, now we are up 107. got it. watch interest rates. check the ten-year treasury. as of now it's at 2.11%. that is still historically a very low level. ryan payne is with us, president of payne capital management. hotshot here on wall street, the man is. even though he's so young. >> hotshot. my ego just got that much bigger. stuart: the yield on the ten-year treasury down to 2.09 this morning, now 2.11, 2.12. why do you say that low rate of
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interest makes the stock market attractive for investments? >> i think what you are seeing now is what i would call unintended positive consequences. everyone is talking about the bond market signaling fear right now, you should be afraid because everyone is putting their money into bonds, the rates are going lower, what does that tell us about the stock market. i would argue there's two things it's doing really, really well for the economy and the stock market. number one, with rates coming down, the ten-year treasury's a good litmus test for what people borrow at, now your 30-year mortgage is below 4% again which is a huge stimulus to the consumer. and if you look at corporations that can borrow now at much cheaper rates than they could six, seven months ago. so we were talking about the tariffs and how that might have some, you know, there's going to be friction in the economy, there is actually offsetting that which if i'm looking from a buying perspective, that means that that's only going to be another push forward for the economy and the market. stuart: you are a brave guy. i'm not joking here. look, in october, november, december, we had a pretty nasty downturn. you were telling us get out
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there and buy stuff that you like. now we've gone straight back up again. okay, we had a dip. now you are telling us another buying opportunity. get back in. >> yeah. because the dynamics haven't changed. the economy is still strong. the other thing to think about, it's just relative value. you mentioned the ten-year treasury is 2.1%. it only takes you 30 years to double your money. you are a patient man. stuart: i don't have 30 years left to live. that's another story. you're right. if you put your money into a dead safe government bond or bond fund, you milk your 2%, you could go into the stock market, at & t, for example, which i own some of, i'm getting 6%. >> exactly right. that's probably a higher dividend but there are a basket of dividend paying stocks, you are getting 100% better return than sitting in a treasury. if you look at dividend yields, they are scombroeprojected to gs
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year and next year. hard to argue with that. stuart: i'm beginning to get this theme that maybe a portion of people's money should be in dividend yielding stocks. are you with -- you are an adviser on where to put your money. you agree with that? >> exactly. think about it, if you are getting ready to retire now, you have to think about generating income. it can't come from a fixed bond. it just makes no sense. stuart: that would be particularly true of older people. you are a youngster, for heaven's sakes. you are not even in your 40s, right? >> i am just over 40. stuart: what do you know, you could take risk in the short term. you can take ten years' worth of risk with your pension money. i can't. i want to lower my risk at my age. >> sure. but you want diversity, too, because you have the risk of inflation. things will cost more for you in the future. you are getting 2%, you pay taxes, you are down to 1%, you lose against inflation whereas dividends pay out no matter if the market goes up or down. if they are increasing over time that's keeping up with inflation. you need that as a component to your portfolio.
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stuart: you are the third person on this program in two days who said watch out those dividend plays, that's the way to go. >> everyone is -- i guess they're not following my lead. stuart: you're all right. ryan, thank you very much. >> thanks, stuart. stuart: good stuff. keep an eye on the big tech names, apple, amazon, facebook, google. they are on the screen now. look at them. they are down. apple is up but the rest are down. amazon, facebook and google, they face scrutiny for antitrust reasons from the government. that's why they're down. the declines in those three major stocks, that's why the nasdaq composite is down when just about everything else is on the upside. amazon down six, facebook down to $166. google, very close to breaking below $1,000 a share. who would think we would ever say that. we are watching the president this morning. he was in england, earlier attending d-day anniversary ceremony with the queen.
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later this hour he will arrive in ireland, set to meet the prime minister at the airport. we will be sure to bring you that as it happens during this hour. we have dusted off the good old legends and company animation. i don't know where it is. we dusted it off for the baseball legend pete rose. he holds the record for most hits in the history of major league baseball but he's not in the hall of fame. but he is on the show today with me in new york city. pete rose. we are talking also to the ceo of nucor, the largest steel producer in america. we are talking tariffs. he supports the president's hard line on tariffs and trade. why? i will ask him. speaking of tariffs, we are five days out from the tariffs being imposed on mexico. mexico's president thinks an agreement will be made today. next, we talk to tom tillis, senator. stay with us. jam-packed hour just ahead.
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stuart: can you see, not sure you can see it very well, but what you're looking at is world war ii era planes that have been refurbished and some of them are taking off from that airfield in britain right now. it's at duxford. they are american-made planes refurbished. ashley: one of the key planes that won the war. they put the paratroopers in. they were very versatile. stuart: 75 years ago tomorrow they were flying over europe. ashley: they are going to take off, there are going to be paratroopers going into france today as part of the celebration or commemoration, i should say, not celebration.
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stuart: glad we got it on the screen. good. all right. five days out from new tariffs being imposed on mexico, next monday is the deadline, we have word that mexico's president lopez obrador is quote, optimistic a trade deal will be reached today in washington. senator tom tillis, north carolina republican, is with us now. senator, seems to me all signs are pointing towards a deal with mexico before the tariffs are imposed. republicans oppose the tariffs. mexico's president is saying this. looks like we got a deal. what do you think? >> i think it's a good example of why we need to support the president on trying to focus attention on securing the border and having him use every device possible to get to that positive end. i do believe that the mexican government can work with us, partner with us, secure their southern border and that's going to stem the tide of nearly 80% of the people who are coming across the border illegally today. stuart: it really wouldn't take much for mexico to turn this situation around and show that
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they are doing something to stop people coming to our border. wouldn't take much to accommodate president trump, would it? >> that's right. the guatemala border is a little under 600 miles. about two-thirds of that you would never cross anyway for terrain and other reasons. so mexico is setting up policy that does not provide visas that are more or less a ticket to our southern border and actually strengthening their border security down in that southern part of their country would have an enormous impact not only on the humanitarian crisis, the illegal crossings over the border, but also the drugs that follow that same pathway, poisoning thousands of people a year dying from fentanyl overdoses a year alone. it has two very positive impacts. then we get to good normalized trade relationships with a very important partner. stuart: i want to play a sound bite from senator schumer. he had choice words for the president on tariffs. then i want to tell you what
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president trump said about it. first, roll tape of senator schumer, please. >> if past is prologue, he makes these threats and then he backs off when he sees the danger. i have a feeling that this one just popped into his head. it's clear that lots of people in the administration didn't agree and i believe that he will back off when faced with the opposition among business, among his own republicans, and when he sees what a dumb move he's made, in terms of dealing with both the border, the american economy and with any kind of trade agreement, he might try to get. stuart: that drew this response from president trump. quote, can you imagine cryin' chuck schumer saying out loud for all to hear that i am bluffing with respect to putting tariffs on mexico. what a creep. he would rather have our country fail with drugs and immigration than give republicans a win. but he gave mexico bad advice.
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no bluff. senator, would you like to respond to all of that? >> well, i think senator schumer is in pure politics mode. the fact of the matter is the president has used similar devices to get nato to up their share for supporting the alliance. he's used these tools i think effectively. i don't believe that the president wants a long-term imposition of tariffs. but it is something that i think caught the mexican government's attention. they understand the financial consequences for not working with us and what we are asking for is really not a significant investment on their part. it's just increased cooperation to actually get to a good solution for the crisis at the border. stuart: seems like we are close to some kind of deal on this. we can only hope. >> i think senator schumer may be eating his words in a week or so. stuart: senator tom tillis, thanks for joining us. appreciate it, always. check walmart. their annual shareholder meeting takes place today in arkansas. senator bernie sanders expected
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to attend. jeff flock is there. we will go to him later. that's live. there you go. okay. walmart's there. bernie sanders will crash them and have a go at them. amazon's chief jeff bezos shelling out really big bucks for a fifth avenue condo that will be in manhattan, new york city. $80 million. we will show you what he got for it and he got a discount. bmw owners, this one's for you. your car could soon be cleaned by a drone. they filed a new patent. we will tell you all about it after this.
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stuart: a taste of the future for bmw owners. they published a new patent or several patents for a car cleaning drone system. it's totally autonomous. the drone finds your car, detects how much dirt's on it, washes it, dries it, even waxes it. the thing will even send the owner before and after pictures. how about that. ashley: wow. stuart: take a look at this. another live shot at the
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refurbished world war ii era planes. that's one in the sky. i don't know whether that's a dakota or not but these are planes in the world war ii era, the kind of plane that took off from that airport heading south, 75 years ago. the invasion and liberation of europe. you are looking at it. that's live right now. good stuff. how about a big money story for you. chump change for the world's richest guy, jeff bezos. he dropped $80 million on a new fifth avenue condo right across the street from madison square park. three floors, private elevator, terrace views, 12 bedrooms. wait a minute. he got a discount? liz: 21%. this was originally going for about $74 million a year and a half ago, and he dropped it to $58 million. he used that discount to buy another apartment below it. it's 10,000 square feet.
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stuart: that is the most expensive -- liz: i'm speechless. stuart: there you go. hope you recover fast. liz: i'm speechless. stuart: the interview a lot of people are waiting for today on this program. the legendary baseball player and manager, pete rose. yes, he's on the show. he's with me live here in new york. he's on the set. can't wait. we are talking also to the ceo of nucor, largest steel producer in america. he supports the president's tariffs. i wonder why. we will ask him.
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that's gonna be a good one., ♪ (playing) did you know that nationwide has customized small business insurance? huh-uh. maybe that's a song. yeah, maybe. (peyton) did you know nationwide is america's #1 provider of pet insurance, farms, and ranches? now that's a song. yeah, maybe. oh, that's gold right there. did you know that nationwide has an interactive retirement planner? (music stops) are we there yet? ♪ (nationwide jingle) stuart: positive trade news and accommodative federal reserve. we are up 135 points, half of 1%. pretty solid gain after a big gain yesterday. senator bernie sanders will
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make what i would call an unwanted appearance at this year's walmart shareholders meeting in arkansas. it takes place today. jeff flock is there. jeff, am i right in saying, did bernie sanders bring his own protesters with him? reporter: well, they come from a lot of different places, stuart. the thought was originally -- i will show them to you, by the way. we won't walk out in the street and get run over but there you see a large crowd of protesters. there was talk he was going to crash the meeting. the folks at walmart said no, you can come in and make this proposal, the proposal specifically goes to, you know, the notion that there ought to be representation on the board from people that actually work at walmart stores. that is what he will speak to. expected to speak about three minutes. folks at walmart are going to listen to him. they said they would like him to listen to them as well, because they feel like they have made progress in terms of rights for
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workers, paid time off, raised wages somewhat but they stopped short, as this fellow points out, of a $15 wage. they are at $11 for their minimum wage right now. as you know, competitors like jeff bezos and amazon have decided to go ahead and give folks the $15 minimum wage. we will see what happens, if there's any negativity inside the meeting but outside here, all is calm at the moment. we expect to hear from senator sanders shortly after the meeting. stuart: i don't know whether you can hear me, but is he holding a speech to those people outside? reporter: no, he has been welcomed in by the folks at walmart. this proposal was made by another walmart worker. she said i would like senator sanders to speak for me. walmart said yes, you can. we don't expect fisticuffs in there. stuart: okay. jeff, thanks very much. see you again later, guaranteed. back to the china trade war. our next guest is the chief executive at nucor corporation,
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major steel producer. biggest in america. he says they have it on good authority that china tried to steal their intellectual property. john ferriola is with us. welcome to the program. tell me more. they tried to steal your technology? tell us more. >> it's not too much i can say because of confidentiality issues. several years ago we did have an attempt to break into our computer systems, which working with the government, they were able to track it back to a chinese source. so really, they investigated, they were able to lock it down. fortunately they never did gain access to any of our information because of the firewalls we had in place. stuart: but they tried. okay. i believe you benefited from the president's tariffs on foreign steel. is that why you support these tariffs? >> well, we support the tariffs simply put because it's the right thing to do. there's no doubt that we did have a good year last year,
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2018, and we had a record year through the efforts of our teammates working safe, working hard, working smart, and the tariffs did provide a tailwind to that, there's no doubt about it. when you look at the things that really impact our business in 2018 and led to the record year, it was more along the lines of tax reform and regulatory reform. you know, we had a record year in 2018, but so did many of our customers. in fact, if you look at the manufacturing sector as a whole, in 2018, the profit margin of course to manufacturing sector was the highest it has been since turn of the century. stuart: but that was 2018. this is 2019. the tariffs are on china. there may be more tariffs still to come on china. if that occurred, wouldn't it be true to say that prices on a wide range of industries will go up? it would help you, maybe, but other industries would take a hit. what do you say?
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>> we heard that across the board on the 232 tariffs and of course, they are still in effect. if you look at pricing on steel today, it is significantly under the price across all of our products, under the price that was in place before the tariffs were implemented so the concept of the tariffs driving price whether it be with respect to china or across the board on 232 is just not being proven out. it's not accurate. stuart: you are going to do well regardless of tariffs, is that accurate? >> we will do well regardless of tariffs because of many things, the work our teammates do every day but also the investments we continue to make into our company. right now, in 2019, we have about ten major projects going on valued at about $3 billion that we are investing into our company. these investments we make are made thoughtfully and strategically to improve the competitiveness of our company not only against investor
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competition but against international competition. and remember that 232, that was one of the objectives of 232 was to give -- to create a level playing field, to give our domestic industry an opportunity to be more profitable so that they could reinvest in the domestic industry making it stronger, making it sustainable and of course, without a strong, sustainable domestic steel industry, you don't have a good national security position. stuart: got it. >> the president's plan is working out well. stuart: john ferriola, thank you very much for being on the show today. we do appreciate it. >> thank you. stuart: i want you to look at a tweet from nigel farage. look at this. good meeting with president trump. he really believes in brexit and is loving his trip to london. on the phone right now, nigel farage. who else. nigel, i don't know whether you are allowed to tell me what the
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president of the united states was talking to you about but can you give me a rough synopsis of the conversation? >> let me tell you about him first. he was absolutely on great form, loving his trip to london. he was ebulli neshent, absolute having the time of his life. he had been to buckingham palace, met the queen, inspected her guard and it was amusing watching him walk up and down the line of soldiers, chatting with the soldiers. he had then been to the most spectacular state banquet and he carried himself and his family carried themselves with incredible dignity. he spent the whole evening sitting next to the queen. it's important to remember donald trump's mother was born and raised in scotland, was a huge believer in queen elizabeth and i think donald trump isn't bowed by anybody, obviously given the man that he is but i honestly believe he's probably got more respect for the queen
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than anybody he's ever met in the world. he was on great form. but he is concerned as he said before the trip, he's concerned about brexit. he believes in brexit. he believes the whole movement of the brexit vote, there's a big change where we are moving back towards the idea of democratic sovereign nation state, not being run by unelected bureaucrats whose names we don't know and he wants to see brexit happen. stuart: what do you think, are the brits changing their opinion of president trump? are they warming to him? we have seen some reports in the british press, some headlines from the british press which are really rather friendly. >> do you know, the big process that was organized against him yesterday was a mere fraction of the size we saw last summer when he was last in london. it really was the old communists who sort of turn up and protest at almost everything.
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they looked a rather pathetic sight, as did jeremy corbyn, leader of the opposition, who spoke at the rally and used rude words about the u.s. president. there were also people lining the streets of london yesterday who as the motorcade went by were standing there giving him a thumbs up. his approval rating in the united kingdom is now nearly 35% of the population. that is about three times what it was just two years ago. people are realizing maybe he's a brash new yorker, who the english find difficult to understand initially, but they understand here's a guy who makes promises to the electorate, then tries to deliver them, unlike our politicians, who have done the opposite. stuart: fascinating. nigel, thanks very much for joining us. i'm sure we will be talking to you a lot in the very near future. nigel farage. good stuff. now, are we playing some music for this? do we have a special graphic? oh, we have a legend getting
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ready to walk on set with me here. pete rose. i think, here he comes. liz: there he is. stuart: i know that man. you may think i know nothing about baseball which may be true but i know that man. i know he's a good man. i want to talk to him momentarily. yeah, he's on the show. that is pete rose. everyone's got to listen to mom. when it comes to reducing the sugar in your family's diet, coke, dr pepper and pepsi hear you.
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stuart: you saw him walking down the corridor there. the man's arrived. pete rose, the man himself, is with us on the set sitting right next to me. i should tell you he is author of the new book, great book, "play hungry, the making of a baseball player." there you have it. he brought a free copy for me which i hope he will autograph so that i can sell it for a small fortune. >> no autographs today. just kidding. stuart: i will pay you. look, i came to america in 1970s. but i remember you. i remember you very well. >> good decade.
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stuart: i remember you as the most aggressive competitor in the entire game. that's what you were. >> that's why it's play hungry. i played hungry and aggressively and most importantly, i played to win. stuart: yeah. >> kids got to understand the only reason you play sports today is to win. it's more fun. everybody has more fun when you win. am i right about that? stuart: absolutely. this show is a winner, by the way. the most watched news program in america. >> i believe that. if you can get an "a" or "d," what do you want to get? if you can win or lose, what do you want to do? win. it's not rocket science. we make it rocket science today. stuart: you would slide into bases, wouldn't you? >> head first. i slid when i didn't have to slide. trying to get your picture in the paper, man. only way to do that is to slide head first. stuart: is that right? >> yeah. easiest way. you always got your picture in the paper. stuart: you wanted to stand out, you wanted to win and leave that way. >> well, i was pretty lucky
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because i got to play in my hometown. i was born three miles from the ballpark in cincinnati. so every night i played i felt like i had iced tea with everybody that's in the audience. when you are under scrutiny like that, especially my dad was there, the whole focus about my dad, when you got a dad that's analyzing me the way he did at the games, you got to play hard. you got to play to win or he will be waiting outside for you. stuart: he was there at every game? >> every game. stuart: always there? >> never stayed into the game, he was a banker. worked at fifth third union trust company. can i give a quick story? stuart: please do. >> i come out one time, i'm a batting champion, '68-69 so pretty much a star in the league. in 1970 i come out and my dad's standing by the car, so right away i think my mom's sick. this is the way i was raised, okay. i said is mom sick. he said i got a question for you. he said tonight that third time up when you were batting and you hit a ground ball to second there was a man on third, he said did you run hard to first?
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i had to think about it and i didn't because i was mad because i didn't hit the ball harder. i said no, i guess i didn't. he said don't embarrass me in this town like that. when you hit the ball, you run until the umpire says out or safe. he said i'll see you tomorrow. i said okay. i have never not run a ball out since then. i even run down the corridor to get here. don't stop running. he would kick my butt. stuart: let's fast forward to the present, if we may. you an angry guy? you're not in the hall of fame. >> no, i'm not angry. stuart: i'm not going to raise all that all over again. are you angry? >> no. why would i be angry? i'm the one that screwed up. i'm not going to get on your show and complain about not being in cooperstown but i'm the one that messed up. i'm willing to go on with it. stuart: is there a full confession -- >> yes. stuart: -- what you did? >> that was in the last book i did. whether i bet on baseball or not is old news. i know you don't like to report old news. let's get to something present.
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stuart: okay. what do you think of trump? go on. don't slide head first. >> i'm a donald trump guy. my publisher ain't but i am. he's doing good for the country. he's outspoken. stuart: is he your kind of guy? >> yeah. i used to know him when i played for the phillies in atlantic city, he was there every night. stuart: what was he like? >> great guy. i had a meeting with him one time at trump tower trying to get him in the racehorse business with me and duane lucas and another guy. then he got caught on the ski slopes with marla maples and that put an end to all that stuff. that was long ago, though. well before he was thinking about president. but he was always a down-to-earth guy. i wish he would stay off that damn tweets. stuart: people -- >> he's like me. i'm older than donald. i guess he's like me in this
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respect. all through my career, i always answered every question that was asked me and sometimes you're better off not answering every question. stuart: true. >> and the worst thing in the world, last thing in the world you want to do is call donald trump a name. he will come up with a name for you. i can't wait for the debates. i can't wait. i can't wait for that. stuart: he's a harder guy than you. >> well -- stuart: i think. >> he's all right, though. why would anybody want that job? why would anybody want that job? stuart: well, he wanted it. >> i know. he wants four more years, too. stuart: i think he does. i think he gets them, what do you say? >> let's see who's going to run against him. is it going to be bernie, is it going to be joe, is it going to be harris, the senator from california? is it going to be mayor pete? mayor pete, he's the mayor of a town's got 100,000 people in it.
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you got 100,000 homeless in this town. stuart: anything else on politics, pete? okay. i have to ask you the serious question. >> the other questions aren't serious? stuart: that was just conversation because you're a great guy. >> all they do is sit there? ashley: it's a great gig. stuart: will you eventually get into the hall of fame? >> no. it's not absolutely sure but i don't think i will while i'm alive. but i'm okay with that. let me tell you why. because i'm from cincinnati, like i said. i made their hall of fame. i got my number retired. i got the hall of fame and i got a statue. that's more important to me because it's my hometown. i was raised three miles from where i played in cincinnati, ohio. by the way, they play baseball today on a street called pete rose way. but i'm not allowed to go in the clubhouse or the batting cage.
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i'm john dillinger. i can't go anywhere. i'm surprised i'm allowed to sit on this set. stuart: are you over it? >> yeah, i'm over it. i had to go through security 15 times to get in here to see you. you're not that damn important. stuart: if i'm not that important -- >> i'm just kidding. stuart: i want the autograph. >> i'm over that because life's too short to worry about it. you think i'm going to go home tonight and worry that i'm going to the hall of fame. you're not there yet. you will get there some day. stuart: how old you think i am? be brutal. >> how old do i think you are? 61. stuart: give me that. i'm 71 in five weeks. >> i got you by seven years, man. stuart: what the hell happened? what happened? sir, that was one of the most enjoyable interviews i ever did. especially when you think i'm 61.
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can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company stuart: break into that commercial to show you this. president trump arriving in ireland. he's about to meet ireland's prime minister. it will be a short meeting. we are looking at about 45 minutes. obviously we don't know what the subject matter will be. the meeting will take place at that airport in ireland. when that meeting is done, the president then takes off, i think he's off to france at that point, i think. ashley: yes. he's going to have a day trip to france, then friday he hopes to
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play golf with the golf club he owns on the west coast of ireland. stuart: to get that video in, i had to elbow pete rose off this set. let me tell you, that is not an easy thing to do. i'm sorry about that, pete. but we liked you. good luck, guy. good luck. still on the screen, the president's limousine. that doesn't look like the beast. ashley: that's not the beast. stuart: to get around england, he had marine one over there, the helicopter. liz: avoided the protests. stuart: didn't want to be driving around the streets of london, beast or no beast. that's a different limo they've got for him there. as you can see, he's about to meet the prime minister of ireland. let me check the big board for you real fast. put that on the side of the screen if you can. we have a nice rally going on here. it's been like this all morning. we are up about a half a percentage point. the dow is up 125.
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25,458. so the president's state visit to britain is over. he is now in ireland but i will make the judgment that that state visit to britain was an outstanding success. ashley: absolutely it was. both from the pomp and circumstance of meeting the royal family but also the second day with theresa may and of course, the promise of a trade deal. liz: triple the size of it now. stuart: treble in england, triple in america. walmart, the annual shareholders meeting taking place in rogers, arkansas. senator bernie sanders is talking. let's listen in. >> -- making a thousand times more than the average walmart employee. last year, walmart made nearly $10 billion in profit. it paid its ceo over $20 million in compensation and it has authorized $20 billion in stock buy-backs which will benefit its
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wealthiest stockholders. surely with all of that, walmart can afford to pay its employees a living wage of at least $15 an hour. and that is not a radical idea, because many of walmart's major competitors like amazon, costco and target, have already moved in that direction. further, walmart should give a voice to its workers by allowing them seats on the board of directors. the concerns of workers, not just stockholders, should be part [ inaudible ]. today with the passage of this resolution, walmart can strike a blow against corporate greed and a grotesque level of income and wealth inequality that exists in our country. please do the right thing. please pass this resolution. thank you very much. [ applause ] stuart: senator bernie sanders there.
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he made his announcement there supporting a resolution put before the shareholders of walmart saying look, $15 an hour, your competitors do it, you do it. i think that was political theater. liz: it is, and what bernie sanders leaves out are the benefits walmart gives its workers. so you know, you can't expect him -- listen, we all want better pay for everybody, but it has to do with the level of the job. the cashier is not supposed to raise a family of four on a cashier job. it's a stepping stone to a higher job and walmart does give its workers that opportunity to move up the ladder there. stuart: i like what you said about benefits because unmentioned in all of this, it's not just the wage. what about the benefits? as i understand it, walmart is giving significant help to all employees to go to college. ashley: they are. stuart: paying something towards tuition and all the rest of it. ashley: they are. liz: yeah, they do. stuart: no impact on the stock, as you can see. bernie sanders demanding $15 an
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hour for all walmart employees. no impact of any kind. the stock is at $104 per share, up $1.44 as we speak. walmart's all part of this big move up for almost all stocks. right now, the dow industrials are up 125 points. walmart's at $104. what have you got, ash? ashley: i just wanted to mention oil has now slipped below $51, down almost 5% today. that's a huge drop for oil again. stuart: earlier, ash reported a big buildup in the amount of oil we've got in storage so we're not using very much. supply is constant or actually going up, demand is down so the price is back to $50.96 a barrel. that's extraordinary decline. 5% down today. i have to say this again, the price of gasoline is going to start to fall rapidly. it will come down sharply.
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$4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. stuart: i hope you have a chance to see the interview with pete rose. it was a few minutes ago. i'm glad you did not see what happened during a commercial break. the the entourage pete brought with him, taking photographs of me, with pete and the entourage. i was stand there. i was told we'll break out of the commercial. we have to bet back, the president is in ireland t was five seconds away. i elbow's pete's agent, a big guy right in the chest. poof. i went on live tv. ashley: pete rose was impressed with that move.
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he loved it. liz: charging. stuart: pete is one of the best interviewed guests. ashley: he is terrific. stuart: he has life. he has energy. he is what, 77, 78 years old? what a guy, what an interview. neil it is yours. neil: stuart, thank you very much. we're following same things you are. president arriving in shannon, ireland. bernie sanders speaking at walmart meeting. speaking with reporters gathered outside and protesters that walmart is not doing enough for its workers. let's dip into this. >> we worked with disney employees. they have raised their minimum wage to 15 bucks an hour. [cheering] target is moving to 15 bucks an hour. [cheering] this company owned by the wealthiest family in america can pay 15 bucks an hour. [cheering] neil: now, to the man who is president, bernie sanders wants
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