i know we are waiting on that fed meeting. we will get news tomorrow. markets are rallying. >> everybody here in new york, the fox business hallways, are very jealous of you. looks great out there. maria: it's beautiful. have a great day, everybody. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. a tent city popped up outside the amway stadium where tonight, donald trump officially kicks off his 2020 campaign. there were 100,000 applications for 20,000 seats. his supporters are swarmed into orlando from all over. it is a sea of maga hats. likely themes tonight, immigration just like in '16, confront and stand up to our enemies just like in '16 and above all, the economy. make america great again. you will hear a lot of that tonight. here's my headline about that. when it comes to money, america is the only game in town.

cash is pouring into this country from all over the world. it's pouring into american treasuries, it's pouring into our stock market, safety and growth, that's what we are offering, that's what you are getting. look what it's doing. it's pushing interest rates all the way down, 2.03% on the ten-year treasury. by the way, it's so bad in europe now that when you lend to the government there, you don't get it all back. you lend them a million, they will keep $3,000. no wonder it's coming over here. then we have facebook. looks like the stock of the day. today they introduce libra, a new digital currency. they claim it makes sending money around the world as easy as sending a photo. it's a payment system with a potential base of 2.5 billion people buying from 90 million businesses. investors love it. the stock is up four bucks premarket. this is going to be a very big day in politics and money. stocks are going straight up and

moments from now, a visit from gary woodland, the brand new u.s. open champion. what a show. "varney & company" is about to begin. stuart: look at stock futures. yes, a very solid rally coming your way this tuesday morning. as we said, money is flowing into america as europe lowers interest rates, that is the rate of return, all over again and president trump doesn't like that. he doesn't like what the europeans are doing with interest rates. he just tweeted about it. mario dragi just announced more stimulus could come which immediately dropped the euro against the dollar making it unfairly easier for them to compete against the usa. they have been getting away with this for years, along with china and others. about time we brought in market watcher scott shellady. am i right, trouble all over the

place and negative interest rates mean money is just flowing in here, it's pouring in, isn't it? >> yeah, how could it not. the germans got to minus .3, like you said, and it's indicative of what they've got going on as the troubles in europe. i will say this, just by cutting your interest rate to cheapen your currency, that's a cheap way out of your problems. you need to grow growth inside of your own economy and do it the right way because this is just a short-term way of getting some inflation and what happens is the u.s. will cut rates and you are back to where you started. it really doesn't last that long. you need to really worry about what's actually going on inside your own economy and prop those things up the right way. stuart: you're right. i just want to pound on this for a moment because the money really is pouring in. you see what's happening with the ten-year treasury. you see what's happening with our stock market. it seems to me we are offering a rate of return, real interest, but we are also offering safety. we are, you tell me whether i'm

right or not, we are the safest place around, right? >> yeah, we have always been the safest place around. that's a given, number one. number two, you know, stuart, with what's happening in the rest of the world, i can see our ten-year yield going to 1% and that could still be a great trade for everyone else who is at minus half percent. think about it. we will continue to see our ten-year yield march lower unless we've got something else out there that happens and we suddenly get some new inflation from, this is going to continue to be the case for the next two years while trump is running for office. this is going to happen. 1.5 is in the sights, maybe even 1. i think this rate could absolutely march lower because of what's happening with the rest of the world. look, in germany, the only rate they don't have in the negative is the 30-year. everything else is negative. when that starts to happen everywhere else, that's going to slowly but surely drive our rates lower. stuart: fascinating. stay there, i have more for you in just a moment. i want to get to the stock of the day, facebook. they are going to unveil a plan for this digital currency, i think it's called the libra. susan: libra, that's right. crypto craze is going

mainstream. libra will be introduced to 2.7 billion facebook users across facebook, instagram and whatsapp in the year 2020. you will be able to use it on 27 partner companies including spotify, uber and paypal and visa as well. this is years in the making and the value of libra, this is interesting, unlike bitcoin, actually backed by actual dollars and euros, right. so for every dollar that's transferred and used of libra, it's every dollar and euro that goes, that crosses trans-atlantic or goes around the world in these money transfers but this is about also facebook looking for a new revenue stream. you are going private on the social media sites, how else are you going to make money in the future if you don't have targeted ads. don't forget, facebook says very clearly this is a profitable venture for us. we are here to make money. this is something very interesting to see next year. stuart: i think it's interesting. i think it's exciting. looks to me like a flat-out

winner. susan: three questions. ease of use, trust in facebook with more data and lots of sensitive data including your driver's license and passport numbers in order to use libra and also the companies that adopt the usage of libra in the future as well. 27 initial partner companies looking for 100 next year, maybe you will use spotify and libra in the future. stuart: you never know. i think it's great. i think it's very exciting. what does scott think of this? you have been listening. good or bad? facebook libra? >> i give them an "a" for effort but it's in a bad stage. i would like to see the longevity of this coming out because i don't trust facebook. the data breaches and what they've got as far as, you know, think about it. we are not the customer of facebook, right? the customer of facebook is everybody they sell our data to. so we are the product. the customers. so why would you want -- i just don't understand why you want to exacerbate that problem. i still think it's in a bad stage. let's see who signs up for it

over the next couple years but right now, i don't trust them to be able to handle some of that. i think it's all in an effort to get more money obviously because i think their core business is going to suffer because twitter, like facebook, are a little bit different than all the other ones. the social media websites have a policing problem and that's going to be another thing that's going to be a drain on revenues. stuart: investors disagree with you. thank you, scott. >> all right. see you. stuart: all right. let's get to pure politics. president trump kicks off his re-election campaign in orlando, florida tonight. he's tweeting about already, he tweeted about immigration just last night. watch this. next week, i.c.e. will begin the process of removing the millions of illegal aliens who have illicitly found their way into the united states. they will be removed as fast as they come in. mexico using their strong immigration laws, doing a very good job of stopping people long before they get to our southern border. guatemala's getting ready to sign a safe third agreement.

the only ones who won't do anything are the democrats in congress. they must vote to get rid of the loopholes and fix asylum. if so border crisis will end quickly. look who's here in new york city. the man with the smile. charles hurd, "washington times" guy. it seems like right before he makes the big campaign speech tonight, he's coming out with a very hard line on immigration all over again. >> well, it certainly is tough talk. but what's amazing about it is that it is tough talk in washington. all he's talking about is enforcing the laws. the laws have been on the books for a long time. you're not allowed to be in the country illegally. if democrats have a problem with that, they should go and change the laws. i invite nancy pelosi, with the house of representatives tomorrow, could pass a law that says it's perfectly legal to be in the united states -- stuart: you know it's very provocative to say i.c.e. next week will start taking millions of them out. >> of course it is. that's why he got elected.

i keep going back to the same thing. we are a nation of laws. we love immigration, we love immigrants but we are a nation of laws, and if you don't like the laws, change the laws. but you can't attack a guy for saying that he wants i.c.e. to do what they are legally prescribed to do. stuart: okay. how about this one. aoc, alexandria ocasio-cortez, she compares border facilities to concentration camps. roll that tape. >> the united states is running concentration camps on our southern border, and that is exactly what they are. the fact that concentration camps are now an institutionalized practice in the home of the free is extraordinarily disturbing. stuart: you are laughing. lot of people were not laughing. >> no, it's incredibly offensive but what's funny about it is politicians probably shouldn't

sit in front of a camera in their basement, in their parents' basement or wherever she's sitting, and make big political treatisses like this. it's ridiculous. she looks ridiculous. and it is offensive. but you know, if politics is supposed to be about addition which it should be, this isn't even subtraction. this is division. this may work in her district and this may work in certain districts, but outside of that, you can't win a state in this country by talking nonsense like this. you can't win two states. i think it's a real problem that the democrats are being sort of led around by a party that has become increasingly insular, increasingly fringy and supporting people like this. stuart: looks like she runs the party sometimes. >> it does. and we need a better opposition party than that. stuart: all right. charles, thanks very much for being here. always good to see you in new york. thanks. now check futures.

it's a rally. we are looking at a gain of well over 100 points for the dow. look at that nasdaq. now, you could tell me there's going to be real strength in the technology stocks today, up 1% on the nasdaq premarket. how about walmart, unveiling a brand new unlimited grocery delivery subscription service. okay. you pay $98 a year, you get unlimited grocery deliveries. obvious obviously that's taking direct aim at amazon. hong kong, lam made a rare public apology trying to keep protesters from hitting the streets again. looks to me like xi jinping is very worried about what's going on there. he doesn't want the unrest to spread from mainland china. and we've got a big sports star for you. u.s. open winner gary woodland. i want to know how he felt after sinking that 30-foot putt seen

around the world. he joins us in studio next. what a show. "varney & company" just getting started.

stuart: let me run through this real fast about a special guest coming up. saudi arabia cutting its oil output, wants other opec members to do the same. look at that. an output cut and the price of oil is at $52 a barrel. no spike. look at gas. $2.67 is your national average, down 18 days in a row. i think going way down from here. now, the guest. the special guest. put him on camera. gary woodland, there he is. look at that. first of all, i want to show everyone that 30-foot putt on the 18th green and i want your commentary over the top of it. there you go. okay. i want to see the ball going in the hole. have you got that for me? oh, we don't have it. how did you feel when the putt went down? >> i knew i had three putts to

win. i was just trying to get down there close but halfway there, looked like it couldn't miss. when it went in, i didn't know what to do because i had no shots left. i wasn't really nervous all day but i got nervous pretty quickly after it was over with, with everything that came with it. stuart: have you come down from the high yet? >> it really hasn't hit me until i woke up the next morning, the trophy was next to the bed. it wasn't a dream. this was real. real life. stuart: would you tell us about that very special 19-year-old fan who has followed you for years. tell me about her, please. >> amy and i had the pleasure to spend some time together in phoenix this year at the phoenix open. we played the 16th hole with thousands of people around. i was so nervous for her just to hit the shots. she got up there so confident, got it up and down out of the bunker for par. but her energy was contagious. stuart: the young lady has down syndrome. >> correct. yes. like i said, i wanted to pick it out of the bunker for her and she's like no, i got this. i got this. i used a lot of that myself over

the last couple months. it was pretty special. stuart: you wear flag shoes. you are a supporter of fallen honor. patriotic guy. >> i am. we are so lucky to live in this country that's free. these men and women go sacrifice and give everything for us so i can play a game and live my life and enjoy my family. it's nice to be able to give back to them and support them. stuart: do you get pushback for that? overt patriotism is not often looked well upon. >> fortunately, it's been well -- i have been well received with it. you know, if i get some pushback, it is what it is. i'm still going to support the men and women who support me. stuart: you are a good man. i don't care what they say. now then, we have gary player on the show very frequently. he works out like you wouldn't believe. >> it's unbelievable. stuart: that's how he stays in shape. do you have a workout regimen? >> i work out to stay healthy. he makes me feel bad about myself. but he's an unbelievable guy. obviously he's won a lot of major championships but his health and fitness, he transcended that and really changed the game.

stuart: hours of practice every day. how many hours? >> i'm always thinking so even if i'm not on the golf course, i'm mentally thinking, trying to get better at all times. i think it's a work in progress all day long. stuart: is there ever a day goes by when you don't pick up a golf club and hit the ball? >> there might be a day but i'm still gripping it in my hands, i'm still visualizing that club in my hands. i chase my son around now and he's always got a club in his hands. there's always a club around the house somewhere. stuart: how old were you when you started playing? >> i started when i was able to start walking. i was walking with my dad on the golf course. stuart: your dad put you through this? >> yeah. he wasn't a big golfer but it was something we could just do and walk the course together. that's what we've done. stuart: forgive me but this is a financial program. i'm not going to ask you how much you earn or how much you're worth. it would be crass to do something like that. instead i will ask you this. you won in california. >> yeah. stuart: with very high taxes. but you live in florida. >> yeah. stuart: how do you feel about paying at least half of all your winnings to the government? >> yeah, it's better to win

those in florida, i can tell you that. but it's still nice to win. i will take it anywhere. florida wins are a little better. stuart: you live in florida. >> i do. stuart: for the taxes. >> taxes are nice. stuart: and the weather. >> golf courses everywhere. stuart: what's next? >> i'm off this week which is nice. stuart: a week off? you slacker. >> i know. unbelievable. my son turns 2 this week. i get a little bit there, and back to work next week. stuart: last one. is it true you drank vodka out of this? >> i did. stuart: i knew it. gary woodland, it's a real honor and pleasure to have a patriot like you on this program. we really appreciate it. >> i appreciate it. thank you guys. stuart: thank you very much. how do you follow that? ashley: it's not easy. stuart: the dow is going to be up 150. the nasdaq is going to be up 82. what a day. woodland, market rally. it's all on "varney." stay there. we'll be right back. hey! i'm bill slowsky jr.,

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i'll pass. stuart: i'm still recovering from gary. what a guy. hong kong's leader makes a televised apology to quell the political crisis over their extradition bill. more details, please. susan: might be too little, too late. two million march in the streets, a third of hong kong's population. the chief executive, the one that is really taking the blame

for introducing this extradition bill which would have shifted hong kongers and also ex-pats to china to face trial, she says i offer my most sincere apology to all of the people of hong kong but after this, it's interesting that president xi jinping of china, what does he do. this is basically the international doorstep to investing in china. looks like he's backed off at least his hard line stance for now. stuart: he's scared to death of this kind of protest will move to beijing. susan: yes. what's next, elections, right? stuart: got to get this in, too. 1,000 more troops deployed to the middle east. what's this all about? ashley: yeah, after the u.s. saw new images that they say shows iranian forces removing an unexploded device from the hull of one of those two tankers that was attacked. the reason they are doing this, they say, it's being taken to ensure the safety and welfare of our military personnel working throughout the region and to

protect our interests. is it an escalation, 1,000 more troops? it certainly sends a message that we are watching you, we have seen these images and believe you have been behind these attacks. stuart: watch out. ashley: watch out. stuart: futures show a very nice gain. we are going to be up about 150 points. as i keep saying, money is pouring into america. because of trouble overseas and safety here in america. dow's up about 150. the nasdaq, look at it go, 80 points higher, better than 1%. back with wall street after this. experience the style, craftsmanship and technology that have made the rx the leading luxury suv of all time.

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stuart: the president's trade guy, robert lighthizer, testifies this morning about the usmca, the new nafta, and more importantly, the status of trade talks with china. you know, ashley, whatever he says could move the market. ashley: and especially about china, because the senate finance committee is saying where are we with these negotiations, where are the tariffs headed. the likelihood of the two leaders meeting at the g20 has been back and forth. there's been no confirmation from china and even from the u.s. as well. president trump saying hey, if he doesn't go, he doesn't go. but that could move the market if he says look, talks are moving along, we are encouraged and also, of course, talk about the usmca as well. stuart: we are going nowhere with these talks.

ashley: if he says that, bad for the markets. stuart: it's a headline driven market. we will follow it for you. ten seconds to go. this market opens literally seven or eight seconds away. my theme for today is america, when it comes to money, we are the only game in town. okay. we're off, we're running. talk about the only game in town, we are up 140 points in about seven seconds. 26,260. a sea of green on the left-hand side of the screen. i only see one loser, looks like travelers. travelers, the only one that's down. 29 up, one down. dow is up 154. that's .6%. big gain. how about the s&p 500. show me -- yes, same agai again, .62%. very solid gain. here's what i want to see. look at that. up almost 1% for the nasdaq. we are at 72 points higher. later we will check those tech stocks for you. and the yield is, whoa, all the way down to 2.03%.

how do you like them apples. how about the price of gold? up $13 an ounce, $1356. where is the price of oil? when saudi arabia says we are going to try to restrict output and convince other opec members to do the same, you are up only 90 cents. ashley: in the old days -- stuart: it would have spiked in the old days. whoa, gasoline, $2.67 a gallon and heading south. we are down 18 days in a row. you know, i think we need some experts. mike murphy is with us, d.r. barton's with us, susan li is with us and ashley, of course. start with facebook. this may be the stock of the day. digital currency plans, outlined today. right from the get-go they are up 2.25%, $193. now then, murphy, you got out of it. >> i did. stuart: are you getting back in? this looks like a winner. >> i am not. facebook still has the same governance issues that were

really the root of the reason after a long ride we got out of the stock. when i look at this crypto play, apple already does this. venmo already does this. i don't see it as a game changer for facebook at all. stuart: and you do? >> i see it in a slightly different way because i think they can have a chance to put in a different money ecosystem that will allow us to do business easily with somebody in india, with someone in mexico, the places where the lesser banked people have tough time moving money around the planet. if they can do it through these 2.3 million users can do it through wechat, instagram, whatsapp. [ speaking simultaneously ] >> then we have a big change. stuart: if you have a platform with 2.5 billion people servicing 90 million businesses, and you introduce a digital currency, not crypto, digital currency that can link them all and i can send my account around the world like i can send a

picture around the world, i don't see how you are telling me it's no good. >> well, i don't see it, remember facebook had a lot of issues with their internal devices with people being hacked internally within the facebook system. as for me, i will stick with the large banks, jpmorgan chase, citi banks, for my banking. if you are telling me stuart varney is going to go out and put his money, convert his dollars into a facebook crypto currency digital currency, whatever that is, to then send it over a system to someone else across the other side of the world, all because you are going to put your banking information in there and give mark zuckerberg access to all your banking? i don't think you will. susan: privacy is probably the biggest concern right now, but wechat in china actually has already done this, right? on social media, if it's easy, if i open up my social media to take a look at the pictures and it's easy to buy something, to send money to stuart perhaps, i would actually do that.

a report a few years ago said social media and tech companies would actually scare the banks, nothing else. ashley: to mike murphy's point, what story do we do every other day? data breach. they just don't have a handle on it. when you put all your financial information in there, i think there will be a little hesitation. stuart: hold up. i've got to move on to the other stories of the day. there's lots of good ones. suffice it to say, murphy, you are totally wrong. when you start using my full name, i know i'm in trouble. look at this. walmart. they are going to launch an unlimited grocery delivery service. you pay them $98 a year, you get all the deliveries you want. >> yeah, right now for that delivery you are paying ten bucks, $9.95 a delivery. now if you do that more than once a month, if you do it multiple times a week, it's a good deal. but we talked about this before. you're right, it's a direct shot at amazon prime, and that is so

good for the consumer to have multiple options, not just whole foods or amazon fresh but you have another competitor. that's really good for the consumer. stuart: murphy wants to throw cold water on something else. >> i had my amazon fresh delivery this morning and i missed something, i backed it up with a second amazon delivery order this morning that i placed that will be at my home this evening. i pay nothing for it. the reason is i'm a prime member. so they waive the $9.99 charge. i think what walmart needs to do since they are direct competition with amazon, they should do what amazon's doing. let them sign up a type of membership so who cares if they are copying amazon. amazon is winning right now. amazon should be coming directly after them. i don't mind them announcing that. stuart: wow. you're in a mood today. something's missing out of his amazon fresh delivery. oh, target. okay. by one estimate, remember that weekend computer outage?

cost the company $50 million. stock's down a little bit but not much. i don't think there's much of a story there. >> not much of a story. temporary glitch. that it was off, that it happened offshore is a little bit of a concern. we will see how target responds. stuart: the big board now shows a gain of 188 points. the dow has reached 26,300. that's a very solid runup. two-thirds of 1% on the upside. individual stocks. dunkin' partners with grub hub. big tech first, sorry. i missed that. apple's up three bucks. amazon's up 19 bucks. facebook's up $2.60. alphabet up nine bucks. microsoft closed at $134. don't you love it? >> not as much as you. stuart: dunkin' partners with grub hub for coffee and food delivery. that new service starts this week. dunkin' up, grub hub up. comcast launches eye control

for tvs, aimed for people with physical disabilities. not impacting the stock. that's an interesting introducti introduction. the tv follows your eyes, changes channels up and down with your eyes. now back to the theme of the day. america is getting money from all over the world. we are the only game in town. that's why the yield on the ten-year treasury is all the way down to 2.03%. i think this is flat out good news for america and maybe a pointer for the federal reserve. what do you think? >> i think so. dragi has said overnight they are going to be prepared to open the spigots again to fight potential deflation. so that does give more, i think more room for the fed to maneuver and that's again, a good thing for markets short term. >> just remember, we still have a lot of debt. we have a very high debt level. 2% looks a lot better when you owe that much money as we do than 3%. stuart: i used to like the old

bullish murphy. >> that's bullish. we have to pay out 3% on our debt. stuart: can i just do this for a second. you heard about negative interest rates. i'm not going to get into all of that. but suppose you are a money manager in berlin, in germany. you've got a billion dollars. you put that with the german government, put a billion in, they keep three million. you get back -- >> you pay for the privilege. stuart: if you take that billion and put it into an american treasury bond, you get $20 million of interest. where you going to put your money? it's going to come here, obviously. it's going to come here. are we in agreement? >> 100%. stuart: attention, meatless protein fans. beyond meat is going to release a new plant-based ground beef to grocery stores. the stock has been on a tear. is it on a tear again today? up another 10%. you bought any stock in that? >> i do like beyond and i like it for the long term. i have already sold it once,

because -- and i told everyone else to get out the last time it popped to $184 last week. this new thing, every time they announce something new, they are getting a big hit because there's no other big game in town. impossible just raised money in may, their big competitor. they are not looking to do an ipo for awhile. there are very few shares outstanding in this stock which keeps it fluctuating a lot but it's a good long term play. stuart: you wouldn't put your money there, would you? >> i would not. my concern is for people watching at home, they see beyond meat, they see us covering it from 100, it's 186, they think they missed out and jump in. d.r. pointed out a very small float, not a lot of shares out there. that leads to oversized moves to the upside and also to the downside. be careful. stuart: okay. new high of the morning, now we are up over 200 points, 26,314. go, susan. susan: i just want to note as well, while we're up 200 points, there's an 85% chance of a july

rate cut, up from 25% just a month ago. that's a big reversal in sentiment in just 30 days time. but to goldman sachs and bank of america both say we are not going to see any interest rate cuts this year. stuart: but the market is saying 85% chance we cut in july. susan: in july. stuart: look at that. now we are up 262 points. just like that. susan: the treasury yield is down to 2% because they are expecting a cut. stuart: exactly 2%. 2.03. okay. that should move. all right. 9:40. i'm sorry. you were a fine performer today. you're all right. thank you very much, gentlemen. good stuff indeed. again, check the big board. up 276 points. better than 1%. i'm sure the nasdaq is up even more than that. what a day. tuesday morning, straight up. what? ashley: headline. trump says he will meet xi at g20. there we go. stuart: there you have it. there you have it. ashley: had a very good telephone conversation with president xi of china.

trump says u.s./china teams will begin talking prior to that g20 meeting. boom, market up. stuart: let me say that again. president trump just tweeted about this. going to meet xi jinping at the g20. they talked on the phone, positive conversation, and they will talk before the meeting. up she goes. 280 points up for the dow, 1.07%. 26,300. what a day. next case. the new leader of the republican party in new york, yeah, there is one, he joins us next hour. i want to know why the gop is in such total disarray in the empire state. where do republicans stand on legalizing marijuana, for example? they want to get out front of the democrats on that one? we will ask him. the feds are not the only ones tracking down on e-cigarettes. we will tell you which city may become first to ban the whole thing. no e-cigs in this city. we will tell you which one. hong kong's leader apologizing in public for the extradition bill that set off

those protests. is xi jinping scared that the protests will spread? i don't know. we will ask the former u.s. ambassador to china about that. he's next.

stuart: whoa. it is a rally and a half. we are up 327 points, 1.25%, and here's why we've got this rally. a trump tweet. here it is. had a very good telephone conversation with president xi of china. we will be having an extended meeting next week at the g20 in japan. our respective teams will begin talks prior to our meeting. come on in, max baucus, former u.s. ambassador to china. mr. ambassador, i say that

president xi blinked because of the trouble in hong kong and he wants this meeting. am i right? >> well, i think both presidents want the meeting because both countries really want some kind of a deal. china wants to work out a deal with the united states just like we do with them. it's good that they're talking. stuart: it's good that they're talking. are they talking in part because of all the trouble in hong kong and president xi having to back away from that, and all the problems with china's economy and president xi worried about that? is that why we've got these talks? >> well, i think both countries have not only need to talk but both countries also have significant problems. for president xi jinping, hong kong is part of it, but since that extradition proposal has been withdrawn, that's less of a problem. president xi also is going to

north korea to visit kim jong-un, first time a chinese president has visited north korea in 14 years and this is a big state visit. he's doing that, of course, to get leverage over the united states and back home, here we've got a little bit of problem, too. the business community is really getting quite upset with proposed additional tariffs. then huawei, the technology issue. so both leaders have a lot to talk about. none of these are resolved easily. stuart: at the end of the day, do you think that china will back off, stop stealing our intellectual property, and stop the forced transfer of technology? will they actually do that? and agree to do it? >> i think that there will be some words of agreement in that direction but to be honest, i don't know how realistic it's going to be and how much is going to really be enforced.

i think china will really want to say they will buy a lot more of our products to reduce the trade deficit. that's what president trump talks a lot about. but it's going to be difficult for the united states to get china to back down on some of its core basic it views as sovereign issues, developing new technologies. now, there is some forced technology transfer. to be honest, i think that's a bit overstated. intellectual property theft, that's better now than it was. but if you talk about the core stuff, nanotechnologies, electric vehicles and all that, we aren't going to get china to back down on that. frankly, i think we should be doing more of that ourselves, our own country. stuart: okay. but you think we will have a handshake deal of some sort at the g20 meeting? i have 20 seconds left. you think there will be the handshake deal? >> i think it's going to be a handshake deal, but with specific respect, the can will be kicked down the road. we will talk about negotiating

further down, no firm agreements. stuart: got it. mr. ambassador, thank you very much for joining us, sir. very opportune day to appear. thank you. appreciate it. i will give you some breaking news out of japan. a magnitude 6.8 earthquake just hit off the northwestern part of the country. a tsunami warning has been issued. obviously we are monitoring this and any developments, you will know real fast. you got to check the dow because this is a rally and a half. we are up now 333 points, 28 of the dow 30 are in the green, they're up. the dow is up 1.25%. significant gains also for the s&p and the nasdaq. we have another poll and it shows president trump trailing joe biden by double digits. this time, it's from the state of michigan. trump down 10 to biden in michigan. what's going on? we will ask michigan congressman next.

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stuart: oh, don't you love it on a tuesday morning. you wake up and you see that. the dow is up 340 points, 1.3%. it's a rally across the board. now this. a statewide poll of michigan has

joe biden leading president trump by double digits. can you believe it? 52-41. remember, please, mr. trump won michigan by less than one percentage point back in '16. let's bring in congressman bill huizenga, he's a republican and he's from michigan. what's wrong with -- what's going on in your state? biden beats trump by 11 points? >> yeah. well, we are not a red state or a blue state. we are a purple state. it's hard to know, conceptually, maybe, but when it comes down to people walking in the voting booth, i got to tell you the economy in michigan is just red-hot, much like it is -- stuart: is it? >> absolutely. especially in our area in west michigan, where we have office furniture, automotive suppliers, ag, we literally, our problem is we can't get enough workers. stuart: really. okay. i've got to move on to another subject. i first want to bring this up to you. we just heard that president trump will be meeting with xi jinping on trade and the two

sides are going to be talking almost immediately. the president has spoken on the phone to xi jinping. that's why the market's up. this is very good news for michigan, isn't it? >> yes, it is. the two things that are very good news is one, progress on the usmca, making sure that that is in order, and then having a trade agreement or progression of those conversations with china, is very important for our manufacturing. stuart: you are manufacturing and farming. that's michigan, isn't it? >> yes, it really is. tourism but that's hard to export. we import for that. but yeah, it really is ag and that value-added ag, then manufacturing, whether it's automotive or office furniture. stuart: if your state economy is red-hot, what's it going to look like if there's a deal with china and if usmca goes through? >> well, we are trying to get people back. you have to remember that michigan was the only state that literally lost population between the 2000 and 2010census so we're trying to get people back. we are seeing wages going up, work force participation is

skyrocketing, so we want people coming back. stuart: joe biden has an 11 point lead in your state. >> again, conceptually, all right. my mom's a good irish catholic girl from flint. i can tell you, some of my uaw cousins, they like what trump has been doing, but hillary clinton did not fit the profile of what they thought was an attractive candidate for president. joe biden might a bit more but i think at the end of the day, when people see really the proof is in the pudding in what's happening in the economy, they are going to come back to president trump. stuart: i've got another bone to pick. not just the biden poll. listen to this. three of your fellow michiganders, representatives, support impeachment of president trump. it's a bipartisan group. you have congressman amash, a republican. you've got tlaib, who is a democrat. and andy levin, who is a democrat. all three of them are pushing. what is this, michigan is the impeachment state? >> it's a combination i think of some trump derangement syndrome, literally no matter what he does, there is going to be

opposition from some of those folks. i read the mueller report very differently and whether it's attention seeking or whatever it is, it certainly caused a few ripples in michigan politics. i can tell you that. stuart: this push for impeachment, all these investigations, that gets in the way of usmca which is absolutely vital to your state. >> it does. it really does. which is why i think you saw nancy pelosi and steny hoyer and other leaders really pushing back and saying hey, this isn't the direction we want to go. but now they are getting so much pressure from the grassroots that they are being forced to go in that direction, and frankly, i think it could help the president. stuart: congressman bill huizenga, republican from the state of michigan, thank you for joining us. seriously, we appreciate it. >> good to be with you. thank you. stuart: yes, sir. congressional -- what have we got here. on capitol hill, president trump's top trade negotiator is going to testify next hour. his testimony is all about trade. it could move the market. you get some kind of headline on the meeting with trump and xi

jinping, could move the market all over again. we are obviously monitoring the whole thing. again, any headline could move the market. of course we're on it. look at the big board. when it comes to money, america, the only game in town. money's pouring into here from all over. my take on that, next. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. . .

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giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? stuart: market has another leg up a few minutes ago. president trump tweeted this, had a very good telephone conversation with president xi of china. we will be having an extended next week at the g20 in japan. our respective teams will begin talks prior to our meeting. as we said, that gave the market a very nice lift. we're now up 327 points. the nasdaq is up, way over 1%. all right? now this.

of when it comes to money, america is the only game in town. the money is pouring in from all over the world, think about this, every day, trillions of dollars sloshes around the world. it is looking for a good yield, that is interest. it is looking for safety. you get both in america. that is why money from overseas is flooding in here. our economy is expanding. our currency is king of the hill. when you lend money to us, we actually pay interest. nobody doubts that we'll pay up safety and interests, what a concept? it is different in the democratic socialist paradise, known as europe. over there you pay the government to helped them money. isn't that crazy? that is the way it is. there is no interests. no rate of return. there is no yield. you lend and they don't give it all back. just suppose for a moment. i want to drag on about this.

suppose you're a big financial institution in germany? you put one billion dollars into a german government bond, after a year you don't get it all back. they keep 3 million. you're the lender but you're paying the borrower. it is the world turned upside down. if you put that same billion into an american government bond, america pays you $20 million in interest. no wonder the money is coming here. don't think this is high fallutin' finance out of pay grade. this makes a big difference to you, mortgage rates being pushed down. inflation being pushed down. the economy gets another shot in the arm. being king of the hill is cool? deal with safety. after all, you don't want to take too much risk with your money, let's be clear. america is the safest place around. suppose you're a money manager in hong kong? that is asia's financial center, have you seen what is happening? you think your money is safe there?

, you can still smell the tear bass for heaven's sake. run money in london, europe's financial center. you heard about brexit, haven't you? when it comes to safety, america has it all beat. this is not mindless nationalism. this is economic reality. the america is the only game in town. second hour of "varney & company" is about to begin. ♪ we have to get right at this. market is rallying. 10-year treasury yield down to 2.03%. jim awad is with us now. when i say with money america is only game in town. >> unequivocally. there is no other rational argument outside of that. you laid it well with hong kong and britain. european model doesn't work.

chinese model is dependent on growth in the states. we have safe, growing, positive yield. if we resolve the middle ground trade issue with the chinese. we're off to new highs. only thing that makes it not true, is we meet in the g20 and fails like the korean summit. they will make progress going forward, i think finally after after after year-and-a-half. stuart: trump tweet is icing on the cake. >> brilliant. kicking off campaign in florida tonight. something to talk about. the market is up strong. talk about the market. he will power tray it as the chinese coming our way.

i hope he does it elegantly, that it doesn't hurt the pride of the chinese. growing economy, low interest rates, progress on various trade deals, stock market going up, it's a very nice combination. stuart: can you tell me if there is a dark, serious dark cloud on the horizon? >> well, what you worry about, a lot of debt has been put on corporate balance sheets over the last 10 years. we've all heard about the leveraged loan market, the nonbank shadow banking market. some day that will be a problem. not while the economy is growing and interest rates low. to look at where there might be a problem, if the credit markets ever start to deteriorate, you see spreads widen, junk bonds start to go down, then you will know we have a problem. not with the economy growing 2% or more, interest rates at 2%. that is problem for out there. right now i don't see recession. i see continued growth. it is going to be slower growth.

you have reasonable valuations, lower interest rates, valuations go up somewhat. you can have a modest growth in profits and continued progress in the equity markets. not without volatility, not without down days. the caveat being what you don't want a failed meeting between the leaders in june. stuart: i got that you will never retire. >> never. we'll do this together for the next 10 years. stuart: okay. [laughter]. i make no comment on that one. i will give it some thought. james awad, thank you very much. pleasure indeed. great to have you on the show today. want to bring in tom rogan, "washington examiner" editorial writer. america when it comes to money is the only game in town. you want to take me on? am i wrong? >> you're clearly right. part of that is bound up in the viability of our institutions, our system of government. i think politicians including

president trump and democrats certainly, should remember that, that cornerstone of american democracy, the rule of law, binding pursuit of profit are the things that make us strong. the concern, if president trump could double down on that now, the ability to challenge the democrats especially democrats like elizabeth warren who take on counter posing moral narrative would be much stronger. >> do you think impeachment drive or this trashing of the president through investigations endless investigations, endless investigations, could that, could that really rock our image as a safe and sound democracy? >> i think clearly, i think absurdity of that line of argument is that, you know, we had the mueller investigation and sustaining narrative of democrats at the time was that that would be the mechanism, right? it was this, that after two years, after mueller being a former fbi director who knows by the way, how to chase down

evidence through the intelligence community, nothing substantial came of it in from a legal point of view that damages it. if you look at the economic record the president has both at the top end in terms of the strength of the economy and macro growth levels but also in terms of the benefits that people at the bottom rungs of society, minority workers, lowest skilled workers are making, then we see the new studies coming out about impact for example, of the minimum wage, there is a, there is a moral narrative that the president can hold to in a way that says look, it is very good to have a capitalist society where the rich get very rich but everyone else getting wealthier as well. stuart: i want to read a presidential tweet. you may have seen it, tom, i don't think our audience has. here it is. next week i.c.e. will begin the process of removing the millions of illegal aliens who have

illicitly found their way in the united states. they will be removed as fast as they come in. mexico using their strong immigration laws is doing a very good job of stopping people before they get into the southern border. guatemala is signing a safe third agreement. only one will not do anything is democrats in congress. they must fix the loopholes and and fix asylum. if so, the border crisis will end quickly. he is taking a few hours in advance of that kickoff tonight, he is taking a very hard-line on immigration. will it fly with voters? >> well i think it depends what he does. if focus is going to be on individuals who have federal deportation orders, final orders against them, which some of the reporting suggests i think it would fly. when people delve into the details of those applicants, if there is much broader effort i

think, get people out of the country who have been here essentially for 20 years and been law-abiding et cetera, that is a different issue. bound up with the border crisis, if it is narrowly focused thing, people who have been told by federal courts had due process you should not be here, there is an effort to secure the border which even democrats increasingly are having to admit in crisis, he has the benefit of showing diplomacy with mexico as multilateral solution people said he wasn't capable, those three sustaining things could be beneficial in the campaign. stuart: he will raise them tonight for sure. tom rogan, thank you very much. >> we're up 300 points for the dow industrials. technology is doing extremely well, okay? take a look at facebook. they unveiled their new digital currency. it is called libra. the stock is up. can you explain what it is

about? susan: facebook is going mainstream with crypto. it will be available with instagram, messenger and whatsapp. do you have to be on the properties to use libra? apparently not. stuart: you can do it is. susan: take a listen. >> to use libra you don't need to use a facebook product if you don't want to. there will be plenty of wallets offering similar services that libra will offer. you can choose whatever wallet you want. all the wallets will be interoperable with one another. they will run on top of the same network. susan: 27 partners signed up, including visa, paypal, uber, spotify. this is layer on layer wallet. similar to apple pay at this point. use to it transfer money, to buy things. it will be embedded in messenger and whatsapp as well.

you have contacts, friends, you can exchange money. it is ease of use. stuart: it is fantastic. susan: question, do you trust facebook and zuckerberg with your data? stuart: that is another story entirely. take a tiny piece out of all the transactions, with 90 million businesses, 2 1/2 billion people that is a money machine i would have thought? susan: it is. think of future of lending, loans, finance, it can't get bigger than this. stuart: it is a bank. susan: backed by real dollars and euros. stuart: that is very important. coming up marc lotter, on trump's 2020 advisory board. he is in atlanta, sorry, orlando, ahead of the president's kickoff tonight. people have been lining up for days to get into this thing. i want to know what the mood is like in orlando? we'll tell you. new york governor cuomo signed a bill granting illegal immigrants a driver's license. what will the newly appointed

chair of the new york republican party say about that? we'll ask him. he is on the show. stuart: they have pictures showing iranians removing unexploded mine from the ship. the pentagon has a plan to send 1000 additional troops to the middle east. that is a message to iran, isn't it? ♪ more after this. ♪

stuart: that's capitol hill. trade representative lighthizer about to testify before a senate panel. now according to our own edward lawrence lighthizer's team only learned about the g20 meeting and the talks that would go beforehand from president trump's tweet which came over

the wires about what, half an hour ago. that is how lighthizer's team learned about the g20 meeting, how about that? president trump playing it close to the vest i would say. check the big board. we're up 300 points. look at that. that is a gain over 1%. how about the s&p? what is the message gain there? that is what counts. percentage gain is 1.1%. same as the dow. nasdaq, look at that, what a gain! up 1.75%. that is a rally in tech. got it. president trump heads to orlando this afternoon. that is the kickoff officially his 2020 campaign. huge rally coming down. marc lotter with us, trump 2020 advisory board member. you're in orlando? all right, here is your chance to tell us what the vibe is like, marc? >> it is amazing, stuart. i was here last night. we had hundreds of people camping out over 40 hours prior to president trump es arrival

tonight. we have thousands that are pouring into 45 fest. the band started behind us. they're raring to go. we had 100,000 people request tickets for venue that seats 25,000 people. make no mistake, florida is a trump state. stuart: can you give us any indication what the president's themes will be tonight? >> well i think the biggest thing the president is going to talk about is promises made, promises kept. when he was in 2016 telling the voters that he would bring jobs back, make progress in growing wages, reducing regulations, he did all of those things. that is why we see the strong economic growth, the boom that we have seen in our economy. people's paychecks are going up. while obama and biden were talking about needing magic wands to bring jobs back, the jobs are coming back to the america. they know it because of the president's leadership. stuart: marc, yesterday the

president tweeted about immigration. he said he will start rounding up millions of illegals already here. this morning he tweeted about trade. there will be a meeting with china's xi xinping. i imagine both of those issues, trade, the economy, immigration, surely that will be center stage tonight, right? >> absolutely. the economy will be center stage. so is immigration. the president has been very strong on that. not only on the need to secure our border, but to reform the asylum, and immigration laws failed our country for decades. congress is still not doing anything about it. when it comes to the humanitarian crisis, we're just now starting to see democrats actually admit there is a crisis but we still have seen no progress from democrats on approving the president's billions of dollars requested to help care for people come here illegally. stuart: do you think there will be any mention of speaker pelosi or impeachment or investigations

tonight? >> well i never want to get ahead of what the president is going to say but i can tell you that he talked about the fact over and over again there has been a witch-hunt against the administration and him personally from the very beginning. despite all of that, despite 90% negative coverage from the mainstream media we see america growing again. we see america being strong again. so i have a feeling you know, you might hear a few words on it every so often. stuart: i think so. marc, you're right there in the middle of it, thank you for taking time to be on the show. marc lotter. stuart: everyone. >> thank you, stuart. stuart: sure thing. at top of next hour i will be issuing, you will get my take, issuing my take, stupid thing to say, i will issue my take on president trump's campaign kickoff tonight. i think he has broken the presidential mold. you have never seen politics

like this before. you get a big dose of it tonight. how about this, filmmaker j.j. abrams, behind big histories lost, "star wars," warner media won a bid on his production company. you won't believe what they're paying for that company. astronomical dollars. we'll be right back. ♪ this is not a bed...

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is this broad-based rally? yes it is. show me the nasdaq, home of the technology stocks, look at it go. the nasdaq is up 1.7%. that is the best gain in a long time. it's a rally across the board. warner media has won the award of bad media, j.j. abrams production company. how much are they paying him? >> $500 million, whoa. >> j.j. abrams is the name, producer behind "star wars" the force awakens, $2 billion at the box office. "lost," clover field. the question why did he go with them, why so much money. he went with them because of distribution. they have theme parks, videogames and streaming service about to come out.

that is a great platform. to answer the question of the question why warner media wants him, his name and got to pay for content, to compete with everybody else. stuart: $500 million to the production company to get out there, make some hit movies. >> a lot of money. shonda rhimes only got 100 million. stuart: my heart bleeds. lauren, good stuff. i'm in a mood. >> because of the rally. stuart: what a day to be on tv. we have newly appointed chair of new york's republican party. his name is nick langworthy. we found the republican party in new york state. we'll ask him what he thinks about illegals getting drivers licenses. they can you know, now, in new york. we'll be back.

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♪ ♪ hey, you got to hide your love away ♪ stuart: i like this. the.ians. you got to hide your love away. what do you think, susan? susan: a little bit more. stuart: a little downbeat for big up market rally. we'll take it. check that big board. look at this, ladies and gentlemen, not quite the high of the day, back to almost where we were, 324 points higher. 326 make that. that is 1 and a quarter percent. s&p, nasdaq, dow, all up. look at boeing. they signed with an international airline group for 200, 737 max jets. no wonder it is up six bucks. that is nearly 2% higher. president is at it again.

he likes to talk about money. here is what he has to say. the german dax, the german stock market average, like our dow, the dax way up due to stimulus remarks from mario draghi. very unfair to the united states. president is using his twitter to talk about money this morning, isn't he? susan: undervalued currency to boost the stock market. stuart: our next guest, wait for it, he is the chair of the republican party in new york state. it still exists. nick langworthy is with us, 38 years old, youngest chair of the republican party in new york. welcome to the program. >> thank you very much for having me. stuart: a, why is the republican party in such disarray in new york and what are you going to do about it? >> first and foremost we have a great deficit in voter registration. you know, defeat unfortunately has become a habit for us in statewide elections. we haven't won since 2002.

we need to get on comeback trail. stuart: how do you do it? >> rebuild, retool, revitalize the republican party in the state. stuart: a lot of democrat run states, have been run by the democrats for generation, new york, california, connecticut, for heaven's sake, they're in dire straits, most of them in many ways. what are you going to do about putting out a republican policy for new yorkers? >> what we see right now is a governor that needs to be replaced. every day that we work from this day forward until the next election, it's a long time away in unfortunately in 2022 we need to rebuild the infrastructure of the republican party in new york. to change new york you need to change governors. we saw with governor cuomo slamming through legalization of driver's licenses for illegal immigrants. no greater slap in the face to new york worries. stuart: how do you think new yorkers feel about that illegals can get a driver license's es, new york state, does that go down well with most new yorkers?

>> new york may be a blue state but they still believe in the rule of law. that has been thrown away by albany and our government here in new york city. we have public polling shows that the vast majority of new yorkers reject driver licenses for illegal immigrants yet last night, they were celebrating in the state capital as they have now legalized driver licenses. it is going to begin right away as andrew cuomo signed into law. it is a slap in the face to taxpayers. stuart: the trouble, you express that opinion publicly, you oppose driver licenses for illegals, they will brand you as racist? >> i'm not afraid of the liberal attack dogs. we'll take message into every media market in the district. we'll campaign in districts of assembly members that made this happen. we're done playing pattycake in republican party in the new york. we'll be aggressive and take message to voters in this state. stuart: that is what i want to hear. pound the table, young man. colorado, generated a billion dollars in tax revenue from

their legalization of marijuana, from 2014 to now, they have got a billion dollars coming into the tax revenue right there. now there is some feeling we might legalize it in the state of new york. where does the republican party stand on legal recreational pot in new york? >> well i think there is a lot of questions still have to be answered. we have colorado and other states to look at for some more data. unfortunately new york always wants to lead in the wrong ways. want to be one of the first states to legalize marijuana. i can see measures on decriminalization but there are a lot of questions that i am certainly not comfortable with on a public safety perspective, on direction, i don't think our law enforcement has been consulted are our roads going to be safe? is this a long-term good direction for the state? i don't see why we should rush this issue at the end of this legislative session when there is much more to be followed. you know andrew cuomo wants to take this state, to lead in every progressive category but

unfortunately we also lead in out-migration. lost a million citizens since he became governor. we have to get our economy back on track. this is mistake priority. instead of making the state more business-friendly environment for jobs to be created is a total mistake. stuart: we wish you well in your endeavor, young man. great to have you on the show. best of luck, sir. >> thank you very much, stuart. stuart: connell mcshane in main mainland china. he just toured dji headquarters. that is the world's largest consumer drone company. connell, isn't there some concern about chinese drones stealing data from americans? >> the department of homeland security recently put a memo out warning that drones that are made here in china potentially could be collecting data and sending it back to main mainland china. when you think about the drone business the company at the forefront is dji. it wasn't mentioned, companies were not mentioned specifically in the memo but this is the

world's largest drone company many until recently didn't even know it was chinese. it is head quarted here in shenzhen. dji took us on a tour of its showroom and demonstrated some of its latest and greatest, emphasizing that your data is not their business. with over 14,000 employees, dji said its purpose is really simple, just trying to innovate as quickly as possible. >> we consider ourselves a global company. we feel our technology and its applications is relevant everywhere. it is really our mission to work as broadly as we can to really realize the potential of this technology for everywhere that we can. public safety is just an area where we have seen a tremendous amount of growth. since we have been in the u.s., we've seen roughly 500% increase in adoption. frankly a lot of the way that this starts is that someone will own a drone privately. then he will also be say, a part-time firefighter. bring it to his work place, hey,

guys, this is increaseddably useful tool for us. it is having real impact. we have over 240 lives saved specifically with drones. >> the drone business for some, drones of personal use, maybe for shooting video but dji officials we spoke to, they say search-and-rescue that is a growing part of their business. back to you. stuart: connell, thank you very much. you can see more from inside of dji's he had quarters, 4:00 eastern time, "after the bell" here on the fox business network. last hour we had gary woodland, the u.s. open champion. he was on the show. it was a great segment if i say so myself. look at this. >> i'm always thank -- thinking. i'm trying to get better on and off the golf course. i think it's a work in progress all day long. stuart: is there a day goes by you never pick up a golf club

and hit the ball? >> there may be a day but i'm visualizing. my son has a golf club in his hand all the time. stuart: his wife is pregnant with twin identical twin girls. what he said about patriotism. roll that tape. >> we're so lucky to live in a country that is free and men and women sacrifice i can play a game, live my life, enjoy my family, nice to give back to them, support them. if i get push back, it is what it is. i will support men and women that support me. stuart: which were all taking self if is. susan: he wears patriotism literally on his feet. a nice win for a nice guy. a great ams about door for u.s. golf. ashley: very humble and nice. thank god i won. i have twin daughters on the way. even though he paid 50 mers -- percent tax, he lives in

florida. he is one of the most popular on the tour because he is a good guy. stuart: people like him. ashley: they like him. stuart: he is outgoing, friendly. that is very important in golf. >> it is. stuart: golf is personal sort of sport. fans attach themselves to individuals they like. that guy is a likeable guy. susan: very. stuart: i hope he is in the future on the show. the dow is up 350 points. there is good news, ladies and gentlemen. then there is this. congresswoman ilhan omar blaming president trump for iran after it announced it would break a limit on uranium stockpiles. she said none of this would have happened if trump didn't back out of the nuclear deal. what a story. we got it. facebook, next hour, we have a guy who says its digital currency, just the beginning. it will open doors for more companies to get into it. we'll see which companies he has

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stuart: not quite the high of the day but rally holds. we're up, stocks are up all across the board. major rally today. look as news corporation. that stock is barely changed. they're exploring the potential sale of news america marketing. that is their business. they may be selling it. the stock is up 40 cents. latest from the mideast. u.s. central command has a fighter-squadron to the united arab emirates. all this after america blamed iran for attacking the oil tankers.

come on in walid phares, fox news national security analyst. walid, it looks like it has the makings of a military confrontation. what do you think? >> it is an escalation, stuart, definitely but the way it looks like now that the united states administration is developing a containment plan just to deter the iranian regime from pursuing policy of aggression against tankers in the gulf and indian ocean, sending drones from yemen, from allies houthis into saudi arabia and militias trying to do in iraq. what the trump administration is trying to do, tell them, these are the red lines if you cross them you will see something much bigger than sending 1000 troops or some deployment of some squadrons. stuart: so wait a second. we have this standoff. they have attacked tankers. are we saying, you do that one more time and then you'll really get it? or what? >> i think so. i think because, had they done

those actions and, you know, we would have responded, maybe, because you and i we don't know, we don't have the readiness across the region. iran is not going to respond point to point one area. they have huge deployment of militias in iraq and syria. we have troops there, which tells me we are sending reinforcements to the forces. when we are ready, when saddam invaded kuwait, in august of 1990. when we responded as international community, it was in january of 1991. stuart: we have 20,000 troops there already, another one how on the way, is that the number? >> in the region we have troops, 20,000 more or less, but deployment we have in the region is able by itself to deter the iranians. if there are more than that at play, of course the pentagon will make suggestions to the white house. stuart: got it. look at tweet from congresswoman ilhan omar, quote, none of this would be happening if trump

didn't back out of iran nuclear deal. america's response should be to return to the table and reinstate the iran nuclear deal. increasing tensions and threats of war serve nobody's interests. walid, your response, please? >> you know a simple obama administration policy has been reversed as of 2016 by an election but in fact, since the withdrawal from the iran nuclear deal we are moving in a different direction. between 2009 when president obama sent a letter to leadership of iran with, we tried everything for eight years, nothing happened. iranians kept their weapons, ballistic missiles, iran deal did not stop them. that is not working. i disagree we need to go back to what is not working. stuart: president trump is unwilling to fire first against iran, is that accurate? >> i do believe that he is not willing to drag himself into an iranian trap. besides he has very strong

opposition here. you just mentioned one of them. i think he is trying to put iran regime in the corner have the iranians react first strongly against us or our allies. then he would have a legitimate position. he would be backed by majority of americans. stuart: i just don't, doesn't seem like president trump backs away from a hard-line. i establishes the hard-line and generally sticks to it. i can't think of any exceptions to that really, am i right? >> you are right. actually, it is building, very smart what he and his administration are doing. he is building that encirclement of iranian regime. many things we're not seeing, we see from time to time, sending forces including b 5's it on the one hand. -- b-52s on one hand. he is expanding american allied presence trying to cut off the line between iran and military. a lot of things are being done to encircle the iranian regime. >> fascinating. containment appears to be the

policy. we'll see you soon. >> thank you. stuart: members of the u.s. women's national soccer team are suing over gender discrimination. they say they generate more money, more revenue than the guys. do they have a case? judge napolitano on that. he is next. ♪ (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.

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stuart: i try to keep track of movement. that i think is the high of the day, up 1.37%. 359 points. this is a huge rally, all across the board check facebook, the plans for a digital currency called leeb bra. the stock is get close to $200 a share -- libra. now this. the women's world cup, the u.s. women's national is soccer team generated $50.7 million in revenue. the men's side generated 49.5 million, a little best. this is backdrop of a

discrimination lawsuit. judge napolitano, the judge, on "the liberty file" on "fox nation," he is with us now. you're a lawyer. you're a judge. >> i feel that hammer coming. stuart: i don't mean to be pejorative here but -- >> be pejorative, that's you. stuart: do they have a case? >> under the federal statute, they do, they absolutely do. there are a lot of defenses here. you can't just look at revenue. you have to look at expenses necessary to generate the revenue. so there are some defenses here, it would if not settled, resolved by a fact-finder but the federal statute, by the way goes back to jfk, the equal pay act was signed in 1963. it has rarely been used, when women can demonstrate that they are as productive for the boss as men are or in this case, on paper, more productive, they made a prima facie case for equal pay. right now they average about $125,000 per year less, susan

listening to this, than their male counterparts. stuart: i'm all with the women on this issue. >> yes. stuart: you generate more money, you get the money, is there something wrong with that? >> here is a question. is that a decision for management or the government? because the government is making that decision for management saying, thou shalt not discriminate on basis of gender. if you have two people producing the same product, the same good, the same income, you must pay them comparably. you must be blind to their gender when it comes to pay, salary, compensation. that is what the law has been since 1963. this precedes the civil rights act of '64. stuart: however, suppose there was a women's professional soccer team in the united states and you have a male professional soccer league, major league soccer. >> right. stuart: you cannot make a case that the women should have the same pay as the men? >> well -- stuart: they don't generate the money. >> correct. or two different employers.

we're talking about -- stuart: i suppose there is that. but soccer is the employer. i mean in -- >> soccer is the marketplace is the best way to put it. but look if this case is tried, you will have economists lining up to go in that courtroom, both to help the women and to help management. it will be a fascinating case. prediction? it will be settled. save them a lot of money and a lot of goodwill if they pay the ladies comparable to what they're paying the guys. susan: absolutely. iagree. stuart: i'm with you. have you heard of lionel messi? >> this is trick question? some constitutional scholar i omitted studying. stuart: that is a soccer player from barcelona. do you know how much he makes? >> how much? stuart: $130 million a year. if they had a professional soccer league in europe would

they have a case to make $130 million a year? no they would not. >> you're telling me the eu does not have a equal pay act? they are far more regulated than here. stuart: i'm sure they do. they will not pay lionel messi's salary. you should watch soccer. >> not going to happen. is britain staying in the eu? stuart: stop it. >> boris johnson, prime minister? stuart: no. well, yes, from my point of view. i hope he is. get them out. that's what i want. dow is up nearly 400, what a day. just because you're on, see? tonight president trump kicks off his re-election campaign in orlando. i expect big things from the president. we have never seen anyone like him before in politics. my take on that coming up. we loss have the san francisco's former, "san francisco chronicle," their former bay area exodus reporter, she is on the show. for years she wrote about people fleeing the bay area.

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stuart: whoa, it's going to be big. it's going to be brash. i think it's going to be a repeat performance of the golden escalator speech when donald trump kicked off his first presidential run. tonight in orlando, the trump 2020 campaign kicks off. 100,000 people applied for tickets. there's only room for 20,000. they are setting up giant screens outside and lining up the food trucks for them. getting ready for a trump style rally that will set the tone and the style of his campaign. it's a policy rollout, too. i should really say it's a policy roll on because it looks like the president will return to the themes that got him elected in the first place. back then, it was immigration, build the wall. my dollar says he says the same

thing tonight and will probably go further. he's just tweeted that millions of illegals already here will be deported. i think he will return to his theme of confronting our enemies instead of apologizing to them. iran, russia, cuba, north korea. he's pressing hard on them all. and he's confronting china as well. most of all, i think he will pound out make america great again. he's certainly got that going for him. as we said last hour, when it comes to money, america is the only game in town. the cash is flowing into this country from all over the world, precisely because of the president's economic success. i have no idea what he's going to say about his democrat opponents or speaker pelosi and the impeachment drive but i will guarantee it comes up in a very trumpian style. donald j. trump has broken the presidential mold. we have never seen politics like this before. tonight, he will make his pitch for four more years.

the third hour of "varney & company" is about to begin. stuart: we dusted off, we will take you to orlando in a second. we dusted off that graphic because he's at it again. he's got a new piece in the "times." the target, those very trump voters who we are about to talk to. it's titled "why isn't trump a real populist"? deirdre bolton with us for this hour. it seems like he's saying trump has not helped his base. deirdre: that's exactly what paul krugman is writing in the "new york times." he's saying essentially president trump relentlessly, quoting here, favored the wealthy over the members of the working class. he uses the 2017 tax cuts to say that businesses and people who are invested in capital markets have benefited more than the average person.

he also actually does take it to a personal level, too, saying trump's whole career shows him to be the kind of man who if anything takes pleasure in taking advantage of people who trusted him. he essentially is saying he has turned his back on his base. the interesting thing for the president and for anyone who wishes to run against him is going to be health care. krugman does go into that a little bit, saying the president and the administration has threatened to take away key parts of medicare that are important to people and i do know from our own proprietary research that health care is a nonpartisan number one priority for voters in this country. stuart: okay. he thinks somehow or other, trump has not helped his base? deirdre: he didn't develop that as well as he developed some of the other ideas. ashley: he's been wrong before. stuart: i think he's wrong again but that's my story. got to show you the market real fast, because it really is a very strong rally and it's all across the board. the dow industrials are up 400 points. the s&p, look at that, 1.5% for the dow, 1.3% for the s&p.

nearly, nearly 2% up for the nasdaq. this is a rally all across the board. okay. let's get back to trump's rally tonight in orlando. kristina partsinevelos is there talking to trump supporters. all right, kristina. krugman's talking about the people that you are with. go. reporter: yeah, i'm going to go talk to them right away. i want to just point out that a lot of these people have been here for over 48 hours, barely sleeping in their tents. i know you brought up the wall and whether trump is going to be speaking about that. the president. here you go, you got the wall right here ready to go and i actually spoke to two twins that have been here, they haven't slept maybe, what, seven hours in total. i want to know, we were talking about this on set, paul krugman's article about what trump has done for the economy, what do you think he's done for america? do you think he's focused primarily on the wealthy? >> absolutely not. he loves the common man even though he's a billionaire and he is for increasing the income of

the common man. look at all the jobs he's created. reporter: what motivated you to come here? you guys are dressed up in exactly the same outfits. they told me they are the same age as the president so if the president can be out rallying, you guys can go without sleep. what motivated you today? >> because i love the president. i love what he's done for our country, our economy, our borders. he's trying to fix that problem. our military, regulations. he's the best president in my lifetime. reporter: what is your name? >> my name is maureen. >> my name is loreen. reporter: twins that are here to see the president. this is literally the front of the line right now. you are not even seeing the vast amount of people. everybody, this is stuart varney's show. you got a lot of fans here. people that are anxiously waiting to go inside. the doors are set to open at 7:00 a.m. you can see people are taking this opportunity to really dress up. there's just so much support for trump, build the wall,

immigration policy, the economy. there's a lost excitement here. i'm going to throw it back to you guys. i'm sure that -- right now i want to continue talking to people. stuart: that's just great. thank you very much indeed. before we continue, i've got a monitor here, and i can see msnbc. they have got someone working the crowd in orlando and it's all grim faces. oh, he's terrible, he's terrible, he's terrible. except for the people they are interviewing who love trump. let's get back to deirdre and krugman's piece in the "new york times" today. he seems to be skewering trump voters who didn't go to college. what's he saying? deirdre: krugman says the base of the president's support is coming from non-educated whites but i thought i would call to your attention some non-educated whites who have done very well in this country. i will give you a hot list. bill gates is one who dropped out of -- stuart: harvard. deirdre: he dropped out from harvard and actually said although he dropped out of college and got lucky, he's very humble, pursuing a career in

software, getting a degree is a much surer path to success. i think he was trying to encourage the next generation to stay in school. steve jobs, mark zuckerberg, larry ellison. we could be here all day. non-educated whites, even one entrepreneur saying i hated school. i was ready to go from day one. however, a computer genius, another one, perhaps a lesser known name, who launched a very successful career in silicon valley. stuart: i love it when the elites of the "new york times" look down from the heights at the rest of us and condemn us for being uneducated. ashley: yes. stuart: oh, they're so smart, aren't they. i could throw up. please don't. why don't we get to your money. look at this. the dow is up 400 points. look at facebook. i'm going to call them the stock of the day because they formally announced their new digital currency called the libra. it's aimed at building a global money exchange with 2.4, 2.5

billion users on the platform. later this hour, tech watcher ryan pattell will join us. i want to know if this thing is going to change the way the world moves money around. i think it will. we will ask mr. pattell. how about bitcoin. i think it's still above $9,000 a coin. show me, please. i think it is. yes, it is. only just, $9,137. we'll take it. the big board. that's the focus today. this rally is very significant. 1.5% up for the dow, 400 points higher, 26,500. this rally is in part because of this tweet from president trump. here it is. had a very good phone conversation with president xi of china. we will be having an extended meeting next week at the g20 in japan. our respective teams will begin talks prior to our meeting. more good news from the

president as he prepares to kick off his campaign tonight. look at this. the ten-year treasury yield, all the way down, i think now we're at 2.04%. what does that tell you? that's a key interest rate. it means that mortgage rates are probably going to go down some more in the future. and it means that money from all over the world is pouring into our treasury securities. that's why the yield is down. the price is up. we are the safe haven high yielding paradise for money anywhere in the world. i think that's a big deal. another big deal. earlier today we spoke with u.s. open winner gary woodland. he was in our studio. he's on a winning high after sinking that 30-foot putt that was seen around the world. i asked him about taxes. there's a reason why he lives in florida. have we got that on tape? no, all right. okay. he won in california, where he's got to pay tax, but he actually lives in florida. but he's still got to pay the

tax. i said it before, i will say it again. when it comes to your money, america is the only game in town. the market is rallying. the third hour of "varney" coming up for you.

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stuart: the price of oil is at $54 a barrel. it's up today significantly, 4% higher. why? saudi arabia is going to cut its oil output and it wants other opec members to do the same thing. we may have an oil glut here but when opec talks like this, the price is up two bucks, $54 a gallon. a barrel, sorry. the price per gallon of gasoline is down to $2.67. it's down 18 days in a row. we will see how much further down it goes, bearing in mind

oil's gain in price today. then we have airbus. they just unveiled a design for their new long range jet. how long range is it? ashley: as long as we have never seen before. it's a single aisle plane. yes, long, back to you, stu. 5,400 mile range. that is a long way. it opens up markets that are not, say, india to europe, china to australia. we are not going to fill out a huge 747 but you probably could fill out these planes to take anywhere from 180 to 220 passengers. they are environmentally friendly, more fuel efficient and there's going to be, they believe, big demand for this particular aircraft. an a-321 from airbus. stuart: interesting. like to fly it some day. next case, i said this earlier in the show, i want to bring it up again with my next guest. here's my point. when it comes to the safety of your money, america is the only game in town. we got them all beat. peter morici is with us, former

economics professor. peter, i'm saying when it comes to money, america is the only game in town. we pay real interest and we are real safe. am i right? >> that's right. there's more to it than that. it's kind of like microsoft windows. everybody uses it simply because there's a great deal of utility about having a single platform. the network effect, the thing that favors facebook. with the payment system that citi corp and some others have created, having one currency in a world of global commerce makes a lot of sense and the dollar makes the most sense to be that global currency because it has the financial infrastructure in new york, and as you pointed out, it's the safe haven thing. if you look at the number of transactions, for example, between the german economy and the rest of europe and the rest of the world that are in dollars, it bears no relationship to how much commerce they have with the united states. it's just very convenient to do business, for example, between chile and thailand in dollars because how much of a market is

there between chile in pesos and -- stuart: i just want to repeat this. if i'm a money manager in germany and i put a billion dollars into a german bond, they keep $3 million. if i've got a billion dollars in germany and i put it into an american treasury security, i get $20 million in interest. that's why the money's flowing here. it wants a safe return. in comes the money. >> that's true. one of the things you'reing, if you are a pensioner in argentina, you have some equivalent of an i.r.a. for your old age. you will have some in local currency but also in dollars as a hedge against the local government. well, the united states, the dollar is the best hedge for that because of the interest it pays and the security of our capital markets. let's face it, europe is a dysfunctional mess. that's why you chose to come here. that's why the british are

choosing to leave. sooner or later, the brits have to leave if they want to maintain simple sanity. how could you live with the french and germans and italians quarrelling all the time. they are one election away from that currency coming apart. stuart: you are right. i've got to ask you about president trump announced today on a tweet that he would be meeting with xi jinping. the two sides will be talking before that meeting. they held a phone conversation. i suspect that the trouble in hong kong has pushed xi jinping towards this meeting because he's worried about what's happening back home. what do you think? >> oh, i think he's quite worried. one of the things they have shown in hong kong is that you can have a demonstration, you can organize people to deal with tear gas and all the rest without using social media. okay? so they can't be tracked so darned easily. if i were him, i would be casting an eye westward to those provinces he's turned into

concentration camps. he is operating the way hitler did in holland and norway during the war in those western provinces populated by muslims. he's running concentration camps, millions of people totally controlled. that's got to boil over at some point. what you have seen is in a place where they are relatively affluent, things are pretty easy going. that is violating their sovereignty and liberty, it's enough to blow them up. if i were him, i would be looking at the closest tree and worrying about my neck. do business with donald trump, he looks easy right now compared to what's at home. it's just like richard nixon. richard nixon used to love foreign affairs simply because it was a lot easier than dealing with the democrats in congress. stuart: funny you should say that. peter, thanks for joining us, sir. big day and i'm glad you're with us this morning. thanks very much. >> take care. stuart: check walmart. we do this because they are really ramping up their position in the delivery game. they've got a grocery delivery plan. you pay them $98 a year, you get

unlimited delivery of groceries. the stock's not responding to that right now but it's way up there. $109 on walmart as of now. of course, walmart's competing with amazon, so check their stock. no impact on amazon stock. but it's getting pretty close to $2,000 a share again. it's up along with almost all other stocks. $1918 is your price on amazon. how about fake meat, beyond meat, up again today. $9 higher at $178. that's fake meat. how about that. another big company entering the delivery market. dunkin' donuts teaming up with grub hub. they will have food and coffee delivery starting this month in new york, expanding later to boston, philly and chicago. both stocks are up. the big board shows still a very solid gain. 368 points up. lighthizer, the trade guy, just said quote, our tariff threat against mexico which worked

gives the u.s. an upper hand in talks with china. larry kudlow just said lighthizer will be in touch to set up trade talks ahead of the g20 meeting. all positive, all contributing to today's wall street rally. forbes ranked the fastest airlines in america. this is all based on their on-time performance, of course. we will tell you which airline came out on top in a moment. look at this. a bel-air mansion, 34,000 square feet, 90 foot infinity pool is for rent, the most expensive lease in the country. we will tell you how much per month you've got to pay to live there.

stuart: ah, yes, another big property up for rent. in fact, it's on a lease but it's the most expensive lease in the country. it's a lease that only the fresh prince could afford. deirdre: we need the sound track, right? stuart: how much? deirdre: it is $1.5 million per month and i don't want to neglect mentioning that you need to leave a $3 million security deposit. if you were to buy this eventually, it is listed at $180

million. so you get a lot for your money. don't think you are just coughing up that money. 90 foot infinity pool with amazing views, but it has a medical procedures suite and i think what's interesting, the original owner is actually a plastic surgeon. then it all starts to make sense. an l.a.-based plastic surgeon built the home but 20 bathrooms, nine bedrooms, wine cellar, tasting room. stuart: not interested. not interested. deirdre: it's very big. stuart: why would i want to live in california and get taxed to hell and back? not interested. forbes has the best on-time performance of anywhe airline. which is the best? deirdre: hawaiian is the best. but if you are looking at the one that is staying on time the most, it's southwest. forbes created a new metric, blocktime. basically brakes released at one destination and brakes put on at

your arrival destination which is different than the department of transportation, which gives airlines about a 15-minute window on either side. forbes is actually a little bit stricter. by that, you have hawaiian, southwest, then allegiance. stuart: we'll take it. want to get back to facebook. they formally announced their new digital currency, the libra. coming up, we have a guest that thinks the libra, what facebook is doing with it, is really cool. ashley: yeah, man. stuart: the stock is up -- that's right. the stock is up. earlier we spoke with gary woodland. we talked about hard work, winning. you will hear more from him after this. fact is, every insurance company hopes you drive safely.

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stuart: big board shows a gain of 356 points. that's 1.33%. most of the dow 30 are in the green. now i want to talk about facebook's new digital currency. yes, it is called the libra. it's clearly helping the stock,

now at $190 a share. tech watcher ryan pattell is with us, senior fellow at the drucker school of management. i just want to make sure i've got this right. this is a new digital currency for use as a payment system with a potential user base of two and a half billion people and 90 million businesses. seems to me like a real shot in the arm for facebook. what do you say? >> shot in the arm? it's a lifesaver. you talked about a year ago, we were talking about where would they get the revenue stream when advertising dollars were decreasing. this alone, this digital age crypto currency, whatever you want to call it, by 2021, could be potentially $15 billion to $19 billion revenue according to barclays. this is something that was needed, something that they have been very carefully laid this plan out in the white paper with all kinds of steps, again, in line with what the data breaches they had last year. they really focused on how they

were going to not get in the way of this and really make it neutral at the end of the day. they needed this going forward. this is obviously wall street's reacting to it. stuart: will it be seamless? i'm told that it will make transferring money around the world within this 2.5 billion people network, it's as easy as sending someone a photo. is it like that? >> yes. it's going to be. we live in the age now of one click button. everybody is used to buying stuff from amazon or they -- even uber, they want something you can send right away. that's what facebook is doing. not only what facebook is trying to do here is not just those who actually have bank accounts. they are actually trying to get those who don't have bank accounts who just have cash, and be able to use this system, which is, you know, a multi-billion population that don't have actual banking behind them. so that opens up a whole new population, hence why i think wall street is really seeing this as being a very open,

potential for facebook and at the end of the day, the global economy, you mentioned it, how does this really tie into the rest of countries moving goods, trade from left and right, from all types of consumer goods with a click of a button. it will obviously make things go faster. stuart: now, as i understand it, this libra is backed by real money, dollars and euros and yen, real money to back it up with. so if i put one dollar in, as i understand it, i get one libra. but how do i get my dollar back? if i want a piece of paper with one dollar written all over it, can i do that? >> you have to exchange goods for something that's equal. one of the big things about stability, i think most people are excited about what facebook has been very smart about, seeing the failures of other crypto currency digital markets that it wasn't really tied to an anchor like this. i think when you have it funded to be one-on-one, you allow the

multi billion user base they have to be able to want to use this through whatsapp, instagram, all the other advertising platforms as well. to your point, they are trying to keep the ecosystem, they are not trying to get you to use the dollar to change it back. they are trying to make it stay within the ecosystem. that's the purpose. stuart: fascinating. ryan patel, you know what you're talking about. what an advantage explaining things to people like me. you can come back any time you like. i do want to hear more about this currency. very interesting. ryan, thank you, sir. appreciate it. from one ryan to another. let's bring in ryan payne, frequent guest on the show. president of payne capital management. i read your stuff and you are talking about the big mistakes that investors make and one of the big mistakes is overweighting your holdings of stocks in technology. that's me. most of my money is in microsoft. is that a mistake? >> i didn't mean to pick on you directly but i am, stuart. if you look at americans right

now, they have the largest exposure to u.s. stocks since 1999. remember 1999 is right before the tech bubble burst. right now, technology makes up the biggest sector of all the u.s. -- all u.s. stocks. right now, just by having u.s. stock market, you own more tech. furthermore, you know the managers that are managing money, they have to keep up the indexes. i talked about this last week. they end up owning more tech as well. so what happens in your portfolio is you have a huge weight in technology stocks which is great until technology stocks aren't doing well, then it's like you live by the sword, you die by the sword. stuart: you would advise your clients don't get overweighted. sell some of it and put it into a different area of the market. i should do the same? >> absolutely. absolutely. stuart: sell microsoft? when the thing has been just going straight up? >> diversify microsoft. you can own some microsoft. but look, value stocks right now are at the biggest spread to growth stocks they have ever been, much cheaper than the market right now so things like financials, energy stocks are

paying big fat dividends, great for retirement. make sure you have exposure to those other areas. i don't want you to be caught with your pants down. that would be a bad thing. stuart: it would be a terrible thing, actually. you also, another big mistake, banking on the fed to lower interest rates. that's a big mistake. >> yes. when you find your side on the side of the majority, it's time to pause and reflect. right now everyone and their mother says interest rates must be going down, the fed's going to cut rates but don't forget, six months ago the fed was going to raise rates and at one point said they aren't going to do anything with rates. the point is, the fed is pretty fickle. they could change on a dime. at some point my guess is with rates falling so far, they are probably going to start going up again. that means if you are in bond funds and things like that, you will get hit really hard. when rates go up, bond prices go down. it's a really risky place to be. stuart: one last one. hope we can get this in. you say there are four reasons why the trump economy is hotter, better, than we think. spell them out.

>> i did just say economy. for the record, number one is forward looking small business confidence index came in better than expected last week. i really like that because i'm a business owner. i knew what my pipeline looks like 12 months out. small businesses around america thinks their pipeline looks good, that's a very very good sign. number two, if you look at the consumer right now, they are at a two-year high in terms of consumer optimism. that means americans are feeling good about spending which is very good for the economy. number three, if you look at employment right now, we are at 50-year low but also uninsurance employment claims are down to a 50-year low. that's a forward looking indicator. stuart: last one. >> last one, man, you are going -- bringing it at me today. stuart: come-back tv right here. >> number four, if you just look at the fact that man, i'm drawing a blank. darn it. stuart: who is that presidential candidate, i will give you three reasons, rick perry, here's number one, number two and i

don't have number three. >> next week. stuart: you're all right. don't miss the rally. up 350 points on the dow. mr. payne, thank you. for those of you who missed it, we had gary woodland on the show earlier today. he's the u.s. open champion. here's what he had to say about his win. roll that tape. >> i'm always thinking so even if i'm not on the golf course i'm mentally thinking, trying to get better on and off the golf course at all times. i think it's a work in progress all day long. it really hadn't hit me until i woke up the next morning, the trophy was next to the bed and it wasn't a dream, this is real. this is real life. stuart: by the way, he drank vodka out of that trophy. he lives in florida but he won in california. since this is by and large a financial program, i had to ask him about the taxes, the california taxes he's got to pay on his winnings. roll that tape. >> better to win those in florida, i can tell you that. but it's still nice to win. i'll take it anywhere. florida wins are a little

better. stuart: you live in florida. >> i do. stuart: from the taxes. >> taxes are nice. stuart: and the weather. >> golf courses everywhere. stuart: he's a really nice guy. ashley: lovely guy. deirdre: great guest. stuart: he was. he had the trophy right next to him. we have all been taking selfies all day. he was happy to do it. deirdre: especially scratch golfers, you and ash. you're not a scratch? stuart: no, no, i'm a caddy. ashley: i dream of being a scratch golfer. in my dreams. stuart: great guy. great performance. that man's going places. ashley: yeah. stuart: he will be popular. got it. check this out. i guess you could call this a real life ironman. 3d printed bulletproof suit that flies. who is inside it? we will tell you in a moment. we are looking ahead -- it is flying. wow. pretty cool. we are looking ahead to the president's rally in florida tonight, kicking off his 2020 campaign. he will address a number of issues.

how about health care? that could be a winning issue for republicans. will the president address it tonight? we will tell you. look at that. stocks dropped after their highs, after a bloomberg report saying the trump administration considered removing fed chairman jerome powell. larry kudlow just said it's not happening. ♪ ♪♪ ♪♪ ♪♪

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stuart: this is the ironman suit we were talking to you about. the guy, adam savage, is inside it, by the way. that's the myth buster man. he's strapped on with five mini jet engines. that's 1,000 horsepower. able to hop 15 feet in the air, it's bulletproof if that's what

you really need. the entire suit was 3d printed with thin titanium. want one. s ashley: i want one, too. stuart: serious stuff now. the president kicks off his 2020 campaign tonight. he surely will tout the economy, immigration, the border wall, draining the swamp but you know there is another issue that may come up. according to a "wall street journal"/nbc poll, 24% of us think that health care should be the top priority of the government, above immigration and above national security. health care, top of the list. kelly sadler is with us, director of communications for the america first action pac. that supports president trump, i believe. >> yes, it does. absolutely. stuart: you think he's going to get into health care at a rah-rah rally? >> he will touch on all the issues that impact, you know, the forgotten men and women of america, on whom his campaign was based the first time and on whom his campaign will be based the second time. he's delivered on the economy. you see the gdp numbers, the

unemployment numbers, the wage growth for blue collar americans. where, you know, he can gain and where he can have a new avenue is health care because this is something that the gop and congress has kind of backed away from but it's something that the president can lead on. stuart: you think that tonight, he's going to get out there and say i'm going to do this, this and this on health care. is he going to say that? >> well, he said he's going to release his plan in the next few months. he will tease his plan and you better believe it's going to be a market based approach as opposed to medicare for all, the socialism stuff. stuart: it had better be a winner. you don't want to get out there and start your campaign and make some kind of promise which the republicans in congress cannot fulfill. >> let's look at what he has accomplished. you have lower drug -- you have the first time in 46 years, that prescription drug prices have decreased. that's this year through incremental changes the president has made. you also have, you know, he got rid of the individual mandate in obamacare which was a disaster, by the way. you had premiums spiking as much as $7,000 in specific states.

nobody liked obamacare. it took away choice, took away options. what has he done? he's allowed associations and small businesses to group together to have these plans that go across state lines. i think you are going to see a lot more of that but on a bigger scale that has more of a wider impact. stuart: you see it tonight? look -- >> he won't get into the specifics tonight. stuart: he will tease the promise. >> he will tease his plan because it's something he knows every day americans want and something he does not want the democrats to lead on because if they lead on that, we are going to go right into socialism, we are going to go right into medicare for all. stuart: it's dangerous ground. you make a promise on an issue like health care which is extremely complicated, and you have given the democrats a chance to just pick it apart forever. >> but what have the democrats done? when they -- they passed obamacare. everyone says it's unmitigated disaster. now they are saying trust us, we gave you obamacare, this was terrible, but now let's go to medicare for all because the government doesn't have all of the health care industry yet.

stuart: free health care. you don't think they like obamacare? you don't think they want the president to come along and say -- >> tell you what, there was a kaiser family foundation study released today that just polled democrats, what is medicare for all and two-thirds did not know they would have their private insurance wiped away or ripped out from underneath them. they thought their employer's insurance would stand. this is something they did not understand about obamacare and it's something they do not understand about medicare for all. people like their private options. stuart: okay. look, i didn't mean to argue with you. >> i welcome it. i think it's ambitious. i'm pleased and proud of the president for taking on this very tough issue. stuart: let's focus on tonight. let's see what he's got to say. it will be fascinating. kelly sadler, thanks for coming on the show. you made very good points. >> thank you, stuart. stuart: i'm just bad-tempered. i don't know why. >> you will be pleased in another four years.

stuart: kelly, thank you very much. appreciate it. san francisco, may be the first city in america to ban and i mean ban e-cigarettes. total ban? deirdre: total ban. it's a proposal which even if this vote goes through locally would still have to be put into law, then voted on. we're not quite there yet. but the idea is to crack down on youth vaping. also by the way, would include banning the manufacturing of any of these products or related appendages if you like how those things click in on any city property in san francisco. the flipside and the argument against it is that it would harm small businesses. there are a lot of newspaper stands that presumably make a lot of money from -- stuart: isn't that how a lot of smokers try to quit? deirdre: they say they are waiting for an fda approval or at least committing and completing to a study they said they would do. stuart: ah, san francisco. all right. used to live there, you know. not anymore. long time ago.

all right. oh, more on this. the tax exodus reporter, there is such a person, in san francisco, she's packing her bags and levering, too. she's on the show next. ♪ i can't tell you who i am or what i witnessed, but i can tell you liberty mutual customized my car insurance so i only pay for what i need. oh no, no, no, no, no, no, no... only pay for what you need. liberty. liberty. liberty. liberty. ♪

stuart: want to bring in some stocks that are moving. earlier today, disney hit a new high. it's backed off a little but it's at $140. that's disney. same story with microsoft. earlier it hit a high. it's holding pretty close to it. it's up nearly two bucks at $134.80. that's microsoft. yeah, i've got a thin sliver. look at beyond meat. they opened today above $200 a share, on an absolute tear. they have dropped 40 points from that and now they're at $163, down six bucks, and they're still falling. some serious up and downs today. san francisco, that's a city that's so expensive that their newspaper employed an exodus reporter. her beat was writing about people leaving the bay area. the news is this. she's the one who is leaving the bay area. that young lady right there,

michelle robeson. michelle, why are you leaving? >> i mean, i'm leaving for pretty straightforward reason. i'm going to grad school in southern california, working toward a ph.d.. that said, i was pretty adamant that i didn't want to be a grad student living on a stipend of $20,000 to $30,000 a year in the bay area. you could be in a windowless room somewhere in berkeley studying and that didn't appeal to me. so i'm going to southern california, which isn't cheap, i should say, but it is cheaper. stuart: look, i'm often critical of san francisco because of its bizarre politics. but to some degree, i'm slightly jealous of the wealth that has descended on san francisco. that's the reason why most people are leaving. you just can't afford to live there. >> i mean, i think i have interviewed hundreds of people who have lived in the bay area long-term or they were born

here, and they leave not for a lack of wanting to be here. i mean, this is an incredible city. we have some of the best food in the world, we have incredible nature, culture and jobs galore. there's a lot of money to be had. but i mean, even if you're working in the tech industry, a lot of people know that they will never be able to own a piece of this city, and that's the reason people leave. its unaffordability over anything. stuart: what about the homeless problem? we see countless -- market street is loaded with homeless people. do any people say i'm leaving because i can't take that problem? >> i mean, homelessness is an immense issue here. that's undeniable. that said, i think it's kind of an offshoot of the affordability issue. studies have shown that evictions or, you know, people getting their rent increased as a form of eviction directly increases homelessness.

i think, you know, they are birds of the same feather. it's an affordability issue. i think if we build housing, if something is done to address the fact that most people can't afford to not only own a home but even rent here, i think we will see homelessness decrease. stuart: may i just tell you a real fast story. i came to san francisco in the mid 1970s, and i bought my first home in san francisco. i won't tell you the number. i paid $60,000 for that home. yes, $60,000. >> i don't even want to hear this. stuart: it was a victorian. a beautiful place. and i sold it, i believe that house is now worth $1.2 million. is that a fairly typical story? >> absolutely. i mean, my parents bought a home in east bay, it was 160 is what they paid three years ago and now it's worth $1 million.

it's not a nice home, you know. sorry, mom and dad. i mean, homes have appreciated, it's insane. it's made a lot of millionaires. now if you're like me, if you are a millenial and you know, in ten years i'm looking to start a family, i'm looking to settle down, but i'm not going to raise them in a two bedroom apartment. stuart: i'm sure the bay area is sorry to leave you. southern california, they are getting an asset. we wish you well, michelle. thanks for being on the show today. we appreciate it. thanks very much. >> thanks so much. stuart: sure thing. more "varney" after this. ♪ you can pay your bills, even start an auto claim. so what i was thinking... let me guess. ♪ start a claim right from your app. ♪ have you been looking in my notes? ♪

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stuart: the theme of our show today was rather simple. when it comes to money america is the only game in town. money is pouring into our country. look at the market. the dow is up 300 points. the nasdaq is up 1 1/2%. that is gain of well over 100

points there. the money is pouring into treasury securities. that pushes the yield all the way down to 2.03%. ashley: somewhere in there. stuart: we are the only game in town. we pay you interest and we're dead safe. neil, it is yours. neil: stuart, thank you very much. it's a weird game we're seeing playing out with bonds soaring and stocks soaring. optimism that we'll see interest rates cuts sooner rather than later. not necessarily after the federal reserve meeting ends tomorrow but something happens in the july meeting. on optimism. china is willing and able to come to the table. president recounting that they do plan to meet the two presidents xi xinping at the osaka summit. one thing we learned, president is optimistic. maybe two camps can get a lot of details out of the way, meet before they meet.