real things that are affecting real people in the inner cities. >> president, stay away from twitter. apologize for what you said, please. dagen: not happening. >> i know. dagen: not happening. thank you all so much. stuart, i leave you with this, quoting another individual. facts don't care about your feelings. stuart: facts don't care about your feelings. i will try to work that one out for the next three hours. good morning to you. good morning, everyone. sure looks like america's biggest companies are making a ton of money. it's profit reporting time and the big names are doing well. many of the market watchers on the program have said solid profits will push the market higher. that's what they say. so look at this. the dow will open at a new high, only just, up about 12 points. but it's going to be pushing well above 27,300. who would have thought. a fractional gain for the s&p and fractional loss for the nasdaq. but what we're looking at is new highs for the dow after some

individual stocks literally minutes from now. all right. watch out, google. peter thiel is coming after you and so is the president. thiel appeared with tucker carlson last night. he wants the fbi and cia to investigate. he implies google is a national security threat. he thinks china wants to infiltrate google's artificial intelligence operation. he offered no evidence of that infiltration. now, thiel is a very powerful man and the president has been listening. about investigating the company, the president tweeted the administration will take a look. google's stock this morning, this tuesday morning, premarket, down eight bucks at $1142. watch out facebook and its libra currency. the treasury secretary has quote, very serious concerns about its use by terrorist financiers and drug dealers. there's a hearing about it on

capitol hill this morning. facebook's stock this morning premarket is down only a fraction. a mere fraction. is this a joe biden gaffe? he's made promises about his health care plan that are eerily reminiscent of president obama's promises about obamacare. you know, you can kaeep your pln and your doctor. we will play the clip and you can decide. here we go. record high for stocks. "varney & company" is about to begin. i'm shocked, stuart. i mean, i'm shocked. here we are eight or ten minutes into this grueling interview that you are subjecting me to, it's about 120 outside here, and you haven't mentioned the strong american economy. you haven't mentioned the fabulous jobs report that's going on. you haven't mentioned the big stock market rally. you haven't mentioned the fact that blue collar workers and the

so-called non-supervise jory workers are the biggest beneficiaries of this boom. stuart: larry kudlow calling me out for not talking about the economy. let's bring in an economist. peter morici is with us. we've got these excellent earnings reports this morning. i regard them as excellent. very strong profits being reported. very strong retail sales, up much stronger than anybody was forecasting. i think the economy is really strong. where am i going wrong? >> well, the economy isn't quite as strong as 3% a year but it's a lot stronger than the economists are forecasting. but kudlow's basic problem, larry needs to have better messaging from the white house. we get a constant drumbeat from so many democrats about how this is a recovery that benefits the wealthy, the tax cuts benefit the wealthy. stuff that's just factually wrong in terms of who got the tax cuts, who's getting rising

wages. in the same news cycle, a la bill clinton, they need to be rebutting this stuff. the part of the problem is they have not had a strong chairman of the council of economic advisers. he has been sort of an outside guy. we have a new one coming in. let's see if he is. we need someone who is messaging every day, going out and speaking. stuart: but look what we've got this morning. a very solid gain in retail sales. that's a sign that the people who are supposed to be beaten down and not getting anything out of the tax cuts, they are in fact confident in this economy and spending a great deal of money. that's a key indicator, those retail sales. it is a strong economy. >> well, as i have said over and over again, i think the economists are politically biased and it's seeping into the kind of factors they put into their forecast but what's important to recognize about the consumer is he's not strapped. where so far it's an economic recovery, ten years, and they're

not overwhelmed with credit card debt and things like this. they've got a lot more mileage left. the other thing to remember is that businesses don't invest in heavy equipment the way they used to. this artificial intelligence is cheaper to buy. so the investment component of gdp is smaller. but they're investing enormously in training. training doesn't show up in the investment component. so my feeling is we're going to get better gdp numbers than my colleagues have forecasted for this year. stuart: i like to hear that. peter, stay there. >> we will have better profits and better stock market. stuart: we've got a better stock market and better profits for sure. better retail sales, too. stay there. back to you in a second. i want to deal with paypal co-founder, facebook board member, peter thiel. he's doubled down on his criticism of google over their work with china. he was on with tucker carlson last night. roll tape. >> there's this very peculiar background where google is working with the chinese communist government and not with the u.s. military so the

decision was not twoso work witi with the u.s. military but they're working with the communist chinese. the question is what in the world is going on there? stuart: fox news columnist liz peek is with me now. he's a very powerful guy, the lone conservative in silicon valley, and here he is really going right after google. i think google should be very careful here. >> i think they should have been careful when they basically said they weren't going to work with the pentagon on what the pentagon has identified as their critical strategic initiative which is artificial intelligence. there are many signs that china is catching up with the united states in artificial intelligence and it is absolutely reprehensible that google would decide to work with china on surveillance issues and other kinds of programs that help that very despotic government and they won't work with the united states pentagon. i think it's ridiculous. you know, peter thiel is not a nut. let's face it, he's an incredibly successful, smart

guy. it's not without the realm of possibility that china has somehow helped this protest, that google has furthered these resisting engineers from working on pentagon projects. we don't know. what we do know is that it's incredibly important work and that the united states is very keen to be a leader in this field. by the way, the thing the engineers objected to was software that would allow better targeting of drone strikes, in a sense that's a humanitarian issue, right. you don't want -- the more targeted you are, the less people you're hurting and killing, presumably inadvertently. i thought the whole thing -- i think it is kind of a questionable decision that's being made. stuart: at the end of the day, when you've got pressure from people like peter thiel, pressure from all over the place against big tech, i have to believe that some kind of legislation or rule change will come down the pike that seriously affects their industry. >> i think they are all vulnerable in different ways.

right now, the house is talking about breaking up some of the big tech companies. it's very hard to figure out what in common they have that would allow that kind of antitrust legislation or attack on these companies. for example, google has a very, very high share of search but it's free so who is really being hurt by that other than competitors? i think congress is way over their heads, frankly. they can't figure out how to go after these companies but it's a great talking point because increasingly, people, americans, i think, and people worldwide are worried about the unbridled power of big tech. stuart: so am i. >> well, yeah. reasonably so. stuart: big brother. that's what i think. hold on. get back to you in a moment. i want to give you my take. i will deliver an editorial on peter thiel and his criticism of google at the top of the 11:00 hour this morning on this program. now, the senate banking committee is holding a hearing on facebook's proposed digital currency this morning, the

libra. treasury secretary mnuchin has some concerns about it. roll tape, please. >> the treasury department has expressed very serious concerns that libra could be misused by money launderers and terrorists financiers. cryptocurrency such as bitcoin have been exploited to support billions of dollars of illicit activity. stuart: come back in again, peter morici. look, i don't see how you can just let bitcoin or the libra, just let them get out there without serious regulation when they're being used by drug dealers, criminals and terrorists and whatever. some regulation is going to come down the pike, isn't it? >> well, yes, some regulation is but we need to be careful. they are going to establish this thing in switzerland and there's limits to how much we can influence with swiss authorit s authorities, what they do. in reality, what they're creating is sort of a paper gold. for years, the imf has tried to

create an alternative to the dollar, sdrs, a basket of currencies. what they are basically going to do is take the deposits and keep them in switzerland and let people draw on those to pay bills. that can provide an alternative to the dollar and what europeans have been seeking, that is a way around the dollar as the primary means of exchange in global commerce. if we come down too hard on this, because it's facebook, someone else is going to do it. if that someone else is not in the united states, if you think you have trouble with bitcoin, wait until you see the trouble you have with libra. the point is, outlawing libra is like trying to outlaw electricity. it's a fantastic idea, it's something that the internet enables, that blockchain enables, it's something that's the outcome of technology, and a lot of the criticisms that the fed has been throwing around and the treasury's been throwing around has been really unsubstantiated. they say it could be destabilizing. what could be more destabilizing

than repealing glass steagall? what could be more destabilizing than the new york bankers nearly bringing capitalism to its knees ten years ago? my feeling is they are asking the people behind libra to disprove the negative which is absurd. be very careful here. this thing has the potential to displace the fed. stuart: that's why facebook's stock is still above $200 a share. peter, thank you very much indeed. let me get back to the market. we will go up just a little bit at the opening bell this morning. a gain of maybe 15 for the dow. there's some strong earnings reports that have come out and a very strong report on retail sales. maybe the feeling is that the economy is so strong, so the fed might not lower rates. maybe that's the feeling, because we have tempered the gains which we saw in the market earlier. but we will be up at the opening bell. how about tesla. looks to be opening lower this morning, down about four bucks. they are lowering the price on some of the models to help boost sales. tesla, look at the level, $249 on tesla.

disney heiress abigail disney says she is livid after going under cover to see what working conditions are like at disneyland. she's calling out bob iger. the war of words between president trump and the democrat squad heating up. the president tweeting about it again this morning. we have that story for you. we will talk about it next. we're just getting started. or what i witnessed, am 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: the four far left congresswomen call themselves the squad, they have a press conference yesterday, they were responding to president trump's go back where you came from tweets. listen to this. >> -- the occupant, as he is only occupying space. >> it is time for us to stop allowing this president to make a mockery out of our constitution. it's time for us to impeach this

president. >> i am not surprised when the president says that four sitting members of congress should quote, go back to their own country, when he has authorized raids without warrants on thousands of families across this country. >> i heard earlier house leadership, many of my colleagues, to take action to impeach this lawless president today. stuart: now, the president has been tweeting about this this morning. look at this. the democrat congresswomen have been spewing some of the most vile hateful and disgusting things ever said by a politician in the house or senate and yet they get a free pass and a big embrace from the democrat party. horrible anti-israel, anti-usa, pro-terrorist and public shouting at the "f" word among many other things and the petrified dems run for the hills. why isn't the house voting to rebuke the filthy and hate-laced things they have said? because they are the radical left and the democrats are

afraid to take them on. sad. come on in, herrmannlpe herman . seems to me, if i may say so, the squad now runs the show. they run the democrat party, not speaker pelosi. am i going too far with this? >> yes. they run the liberal media, not the democrat party. i call them the fin squad, f-i-n. they like to shift the subject like to the new green deal. they want to ignore the facts and this economy is very prosperous. they try to ignore it and now they have launched a new round of name calling where one of those squad members said that the president is the occupant of the white house, and here's another lie that one of those squad members said, that he is ignoring the constitution. no president has adhered more to the constitution than this

president. he is very careful not to do anything against the constitution. stuart: do you think -- >> yet they continue to spew that. stuart: do you think the president should have been so dramatic in his tweets, go back where you came from, and the tweet this morning, spouting horrible and vile things? should the president be saying that? >> no, but that's his personality. my personality would have been a little different. others would have had a different personality. you can't change his personality. he is showing his personality. he is a fighter. go back to that statement that you read, that tweet you showed when the show started. everything in there is true. they want it both ways. they want to be able to spew vile, hateful things toward the president but at the same time, they don't want the president to punch back and stuart, you and i both know, he is a fighter and he's going to fight back even if it's with words against words. that's what it is. stuart: do you think maybe the speaker has moved towards the

squad in response to president trump, maybe president trump's flushed out the democrats and they're all moving together with the squad, maybe so. herman, i'm sorry. i'm out of time. you know how it is. >> i understand. stuart: see you soon. thank you very much. take another look at futures, please. tuesday morning, we are going up. strong earnings reports and very strong retail sales. this market is going up. it would have been up a bit more, but it's being interpreted as the fed won't lower rates with the economy so strong. so you got a 20-point gain for the dow. that's what you're looking at. remember when president obama said if you like your plan, you can keep your plan. now joe biden making a similar promise with his health care plan. we will tackle that after the break. ♪

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stuart: google has responded to peter thiel's comments. what do they say? ashley: the headline is as we've said before, we do not work with the chinese military. they also sent along some other talking points so they are pointing out in a roundabout way they say the allegations are completely false and baseless. mr. thiel provided no evidence whatsoever to substantiate his claims and thiel himself has

expressed interest in investing in chinese startups and businesses, among other things. but that's the line. stuart: okay. they don't work with the chinese military but anyone who works in china has contact with the chinese military. that's another story. joe biden talking health care. it sounds very familiar. roll tape. >> if you like your health care plan, your employer-based plan, you can keep it. >> if you like your plan and your doctor, you can keep them. >> if in fact you have private insurance, you can keep it. >> if you like your doctor, you will be able to keep your doctor, period. if you like your health care plan, you will be able to keep your health care plan. period. stuart: joe biden's comments, liz peek, reminiscent of president obama. was that a gaffe? >> it was really a boneheaded thing to say for sure. look, joe biden wants to tie himself very closely to his time in the white house and to president obama. that's his biggest selling point

on the campaign trail. but to hark back to something that most americans consider one of the central lies of the obama administration, which was you can actually keep your doctor, you can actually keep your insurance, how incredibly dumb, particularly since health care will be the number one issue in terms of policy, and joe biden already is under attack from all his rivals in the 2020 race for having a more moderate obamacare-centered approach. i don't know who's writing his material but they need a new person in that role. i tell you what. that was a really big mistake. stuart: you don't want the job, do you? >> i don't want the job. stuart: thank you very much indeed. quickly, another look at the market, how we're going to open this morning. we are going to be up, not much, but up for the dow maybe 20 points. new high coming. we'll be back. don't miss your golden opportunity

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stuart: abigail disney, an heiress to the disney family, went undercover at disneyland, not happy with what she saw about working conditions. tell me more. ashley: she was livid. she went there because she got a message from someone on facebook who says this is not the happiest place on earth, in fact it's miserable. she went there undercover and said quote, every single one of the people i talked to was saying quote, i don't know how i can maintain this face of joy and warmth when i go home and

forage for food in other people's garbage. she's very dramatic. you know, look, disney came back and said actually, the company offers a starting minimum wage of $15 an hour, health care benefits and child care subsidies. they disagree. stuart: the stock still at $144 a share. all right. we are off and running, tuesday morning. we are open on wall street. we have opened just a fraction lower but i got to tell you, not all the dow 30 stocks are yet open and trading. that situation there minus two points could change and probably will very soon. so flat to ever so slightly lower for the dow. show me the s&p. what have we got there? it's an index of 500 companies. it is flat to ever so slightly lower. how about the nasdaq? same story again, i believe. flat to ever so slightly lower. yes, it is. that's what you've got all across the board here. say that again? okay.

now look at the big banks, please. these three have reported earlier this morning. goldman sachs off to the races with a very solid gain but they've upped their dividend significantly. morgan and wells fargo both came in i would call them strong reports, but the stocks are fractionally lower. there's got to be some internal reasons for that. mike murphy is with us, d.r. barton with us, ashley webster, all together now. bank earnings. i think they are strong bank earnings. couple of stocks are down but i think the earnings are strong and i see retail sales going very sharply. this is a strong economy, isn't it? >> when you look at the banks, they have put up very strong quarters. you can pick out fixed income trading at one bank or pick out investment banking at another bank, but long story short, the banks are doing what they need to do. however, the early stage technology companies are coming in and disrupting the big banks. so they are finding better ways

to attract the consumers' dollars right now. venture capital, where i invest, that's a big problem for the big banks and then on the other side, you have the fed talking about taking low interest rates and making them possibly even lower. that's also a head wind for the banks. stuart: got it. now, this strong economy, d.r., i think we've got good signs here of a strong economy, that could mean the fed does not lower interest rates. that's why the market is down this morning. >> i think if we are to learn anything from the lesson of the 2009 bull market, we know that the fed adding to the punch bowl overshadowed everything and why it's so important that extra liquidity, that extra accommodation means that earnings are important but not more important than the fed, meaning that everything else, so if we think that this strong economy will keep the fed from adding more to the punch bowl, that's why we went from up about four or five s&p points before the market opened to being down now, because of the strong retail numbers. stuart: the retailers on the

screen, all of them doing well. walmart now at $115 per share. now, you are going to hear a lot about this this morning. the senate banking committee has a hearing on facebook's proposed digital currency. treasury secretary mnuchin says he's got serious concerns about this. d.r., doesn't make any difference to the stock whatsoever. >> no. stuart: it's just a lot of air, hot air. nothing affects the stock. it's actually gone up again this morning. >> you have often called it one of the teflon stocks and i agree. i still hold it. we still recommend it. i think that what mnuchin said had no effect on any of the cryptocurrencies because he was just stating the obvious, what we already know. libra is not going to fix the problems of having some decentralization of a currency and the government wants to have their finger on the scale of any currency that's going -- ashley: big focus this week on capitol hill is big tech. nothing will change for these stocks at all until they are

fundamentally forced to change their business model. >> agreed. ashley: until that, you can have all the privacy breaches, anything you want. the stock will not be hurt. if you start really affecting the bottom line, that's when you will see an impact. >> one thing on facebook, you shouldn't be buying this stock based on libra or based on cryptocurrency. if you believe in facebook and their underlying business model, if you want to invest in that, do it. stuart: you buy facebook because it's earning a ton of money and has a huge user base. >> never mind the fact you can't trust upper management. stuart: that, too. >> and they make more per employee by 2x. stuart: facebook at $204. take a look at amazon, please. prime days, plural, continues. mike, they are giving deep discounts to get you hooked on their amazon branded products. that's what they're doing. very successfully, too. >> absolutely are very successful. they really are the only game in

town. walmart's competing with them but what amazon is doing, more and more people are being driven to their website. it's where you go to shop. it's how people, when you need a product, you need it quickly, you go to amazon. i think -- we own the stock, there's a long runway for the company. stuart: i went on amazon's website yesterday. ashley: did you really? did you buy something? stuart: i have never done that. ashley: did you buy something? stuart: no, i'm not a member. i asked somebody else. i cheated. we are only down 12 points. check the big board. careful what you say there. very careful. we are down five points on the dow industrials. okay. closing the gap. dominoes, the pizza people, fell short their sales did. they are down 4%. let's look at a couple of other markets. price of gold, let's have a look at that. it's around $1411. very little change. the price of oil below $60 a barrel, $59.73 to be precise. the national price of gas on

average, $2.79 per gallon. that is a bargain. i remember when it was $4. now this. the meatless burger story of the day. there's always one. beyond meat teaming up with blue apron, the meal kit people. tell me more. ashley: just another example of the acceptance of beyond meat, fake meat, whatever you want to call it. blue apron partnering up with beyond meat. they are going to start offering the recipes, if you like, involving beyond meat and their serving plan beginning, where are we, july, starting next month. they will be up and running pretty quickly. you can order it, you know. stuart: look at blue apron. beyond meat and meatless stuff, look what it's done for blue apron. >> you are talking about a colorado that company that's come down in market cap. >> any press is good press for them right now. stuart: i would like to remind everyone that microsoft reports profits on thursday. i do own some of that stock.

it's in record territory, very close to it. it was at $139 a share yesterday. want to say anything? >> i do. very similar, the exact opposite to the banks. in the bank earnings, people were looking for negatives and finding them. in the microsoft earnings, they are going to get the benefit of the doubt, if you find the positive in the cloud or in any of their other product line, people are going to bid the stock higher. the trend is your friend here in microsoft. the stock will trade higher. stuart: it's the one big tech stock that has not had any reputational risk. nobody is going at it trying to break it up or anything. >> we have already been through that, stuart. they are now the world's biggest company, i believe because of stuart varney's involvement. stuart: i don't think so. >> but they also, what's going to happen on thursday? this is going to be a bellwether for the market. if they continue strong, people are going to say quality is rising, we are going to stick with the stock market. it's going to pull the market along with it. stuart: i want to focus on a dow

component, johnson & johnson. they did report profits before the bell. jackie deangelis is with us. any impact on j & j from this baby powder and the talcum powder issue? jackie: i think there is an impact. i think the numbers were pretty strong. it was a beat on the top and bottom line but i won't bore you with that. i just got off the conference call with management. they addressed those issues. but 50 minutes into the conference call, it took them 50 minutes to get there to answer a question about it. so with respect to the opioid case in oklahoma right now, that's pending, the company management said the facts actually don't align with what the state is claiming. j & j products were designed to prevent abuse and that this isn't about j & j alone, it's about the overall epidemic. it's a multiple factory solution set here. of course, j & j is the scapegoat in this case. the state is suing for $17 billion, a little more than that. we are waiting on a verdict there. but of course, the talc case is pending as well.

remember, this is now potentially a criminal investigation by the department of justice, and j & j said this about it. we have known for decades it's been validated, the product is safe. the company acted responsibly and it said the next major event, this is key, july 22nd, it's going to be a multi-district litigation. it's where they set the evidentiary standard so they are going to be preparing for that and they said they are going to fight this vigorously. stuart: jackie, thanks very much. i just want to report, we just hit an all-time high for the dow industrials. 27,369. okay. we have backed off a little bit but we did hit that record high. any further comment required? >> absolutely. i think to follow up on jackie with johnson & johnson, there's a real opportunity there. i don't think the litigation risk is going to be as big as is priced into the stock. but i will say, i have powder at home. i don't put it on my kids just because i don't know what is true and what's not true. if they get past the litigation side of it, i think there's upside for the company.

it's a great brand that has proven over years that they can execute so i'm looking for an opportunity. stuart: i want a dollar number. what is the dollar number of risk that they face from these lawsuits? can you get that dollar number? >> the key there, they just dropped their reserves to handle this so they think it's lower than they originally thought. we have to remember that this part of their business is really small. it's a big brand, it's a big brand, big eyeballs, but here's another thing. for everybody out there listening from a science perspective, use your talc. if you need it, use talc. there is not a science issue here. jackie: but there are 14,000 people saying their cancer is linked to this talc. stuart: i'm out of time. i would love to get into that. we did hit a record high and i got to say, mr. murphy and d.r., gentlemen, thanks for joining us. see you again soon. check that big board. gone back up again. okay. i think this is the new high. 27,372. that's a new high.

ashley: that is a new high. stuart: doesn't that merit a trumpet? press that button. trumpets, trumpets, trumpets. ashley: we blew the budget. stuart: 27,372 -- ah! a story that's going viral. we got it for you. a facebook group calling on people to storm the top secret air force base area 51. storm it in september. next hour, we talk to someone who knows all about area 51. i want to know what's there, and what will the military do if people really do storm that base? good story. uber trying to put a stop to the bro culture it's known for. the company now trying executive pay to reaching diversity goals. earlier, uber investor bradley tusk, earlier, i should say early investor, he's on the show. actually, he's next. we'll be back.

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stuart: we had a series of record highs for the dow this morning. we are well above 27,370. new highs, there you have them. right there. uber fighting the bro culture for which it is known. it is tying executive pay to diversity goals. joining us now is an early uber investor, bradley tusk. this is the man who brought uber to new york city. you did that, didn't you? >> i did. stuart: made a ton of money in the process, didn't you? >> for better or worse. stuart: they are tying executive pay at the top of the scale here, you've got to make sure you are hiring this person, that person, this group, that group. that's just p.r., isn't it?

>> look, there's nothing wrong that they're doing that. uber had all kinds of cultural workplace problems. eric holder wrote a report about them. they are trying to implement the recommendations. that's fine. but now it's a public company. i don't think what investors are penalizing uber for is a lack of diversity among the leadership. they are penalizing them because they don't see the vision, they don't see innovation. they see uber losing $1 billion a quarter. they don't get the inner economics. one of the challenges uber has had now for a couple of years is they put leadership in place that is very good on issues like diversity, as they should be, but at the expense of being able to talk about innovation. no one is going to invest in uber where the company is today. the company today is a massive money losing operation. you are investing in uber because you believe what it can be in five years, seven years, whatever it is. but you have to really show that vision and demonstrate it. instead they have leadership that's very good at having their talking points, staying woke, keeping everyone calm and that's all fine, but if it comes at the expense of innovation, the stock

suffers. that's exactly what's happening. stuart: you know this company. you know uber from the inside. >> i do. stuart: do you think that they are going to reach those goals of really making a serious profit and being innovative in a brand new industry? are they going to get there? >> i think they can eventually. look, i wouldn't deter people from wanting the buy the stock. stuart: i was thinking of buying it. i would buy it if i really thought they were going to make a ton of money. >> here's what you have to believe. if they can become the way to get anything and everyone from point a to point b, whether it's a car, scooter, drone delivery or flying car, whatever else, then it's a really good bet because the world's going to change dramatically over the next 10 to 20 years. if it's just about ride sharing and food delivery, it's probably not that exciting. stuart: i know you want to talk about -- you are a big proponent of mobile -- >> i am. stuart: you want to introduce them, i don't want to call it a scheme. that's pejorative. >> a plan. stuart: you have a plan. without going into detail, i put it to you, there's a big problem

with elections. there's going to be hacking and changing and messing around with the results. if somebody does hack into your mobile system, how do you redo the election? >> two things. one is, i would argue the even bigger problem that we have right now is that nobody votes in primaries and because of gerrymandering, primaries dictate the outcomes pretty much everywhere. in new york city it's been crazy. take amazon's 25,000 jobs away, you know how many votes that council member who led the fight got? 12,000. so if we don't get primary, the far left or far right calls all the shots. that's a problem for everybody. problem number two, we have a system that is wildly insecure, by moving mobility to the blockchain you dramatically change and strengthen it because in order to hack the blockchain, it's not just hacking your or my computer, it's replicated on thousands and thousands of machines at the same time. you would have to hack every single one of them.

at the moment, iran or china or russia doesn't have the computing power to do that. i would argue by doing that, we can make turnout higher which means really stupid things don't happy again and b, we can make it more secure today. stuart: you make a good case. >> appreciate it. i will get you there. i come on enough, i will get you there. stuart: be careful, lad. you might be back. bradley tusk, thank you. appreciate it. check the dow 30 stocks, please. look at them. more red than green, i have got to say, but the dow has made a series of all-time brand new highs this morning. we are well above 27,370. i got a number for you. 12,000. that's how many stores are expected to close in this country this year, just this calendar year, 12,000. all of this because of online shopping? that's my interpretation. that story is next. hey, who are you? oh, hey jeff, i'm a car thief...

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stuart: ah, the retail ice age. it's real. one analyst says store closures are accelerating and could reach a total of 12,000 by the end of the year. about 1,000 a month. that's double the rate of previous years. joining us now is christian mcgune, who invests in retail

stocks. this is all about the slam-dunk win of online shopping, isn't it? >> it sure is. online shopping continues to win out over brick and mortar. it's due to competitive pricing, increased selection, convenience, even today's u.s. retail sales report number, when you dig into the numbers, department stores are down over 4% so far this year, in terms of sales, online retailers are up 10% this year, 14 percentage point difference. people love the convenience of online retail. stuart: that is extraordinary. i did not dig into those figures but let me tell our audience, there was a surprise from the government this morning in that retail sales went up strongly in the latest reporting period. it sounds a little, it's up .4% but that was four times the growth that was expected. now, christian, you're telling me that department stores are actually losing ground. did you say down 4%? is that correct? >> yeah.

that's right. they are down 4% year to date, which is a trend that we've continued to see over the last three years. they're losing sales at the expense of online retail, which is generally growing in double digits, 10% year to date as of the report today. stuart: now, you've got -- your fund or your company, you invest in online retailers, i think. that's what you do. that's the nature of your company, is that correct? >> that's right. we have an etf, a fund that invests exclusively in online retail stocks. it's been out a little over three years and just received a ff-st five-star rating from morningstar, just returned 100% over these last three or so years. that compares to the other fund in the marketplace that invests in brick and mortar retailers which has actually been down a half a percent over the last three years. essentially it's been flat. online has been the way to go when it comes to investing in this space. we think it's only getting started. stuart: do you think amazon will

go well above $2,000 a share? >> i think technically, they continue to rise, they have reached their 200 day moving average and their 50 day moving average which is very bullish. my concern is that china trade deal is still out there, which could hamper amazon in the short term. also, it could be a punching bag for the presidential election, because both sides of the coin really don't like amazon. so i think it's more of a hold here versus an accumulate, as we start to see more of these developments happen. stuart: okay. christian magoon, online guy, thanks for joining us. appreciate it. see you again soon. i want to show the audience tesla's stock. can you put that up there, please? it is down $1.70. is there a reason for the decline? ashley: they are making some changes to their lineup and pricing. some vehicles are becoming cheaper, some are becoming more expensive and some are just going away altogether. they trying to streamline the operation which ultimately will help in deliveries. for instance, the basic model 3

is now going to go basic model at $38,000, just under $39,000, down $1,000. but they have done away with the standard variant range vehicles. you can go standard distance on one charge. now you have to get what they call the long range or the more expensive performance and those prices, model x begins at $85,000 -- sorry, $80,000, and then you have the model s also right around $80,000. in other words, they are trying to take away some of those options which i'm sure when you are trying to produce and deliver, you have so many variants of one vehicle, it becomes difficult to deliver even though they had records on deliveries in the last quarter. they are trying to make things a little easier. you may gain or you may lose depending on what vehicle you want. stuart: on the one hand -- ashley: only time will tell. stuart: take that. look at the big board now. we are up, not very much, a fractional gain for the dow industrials but we have seen a series of record highs for the dow this tuesday morning. billionaire silicon valley guy peter thiel says there is

one 2020 democrat candidate who really worries him. we will tell you who that is in our 11:00 hour. the squad dominating the political news cycle. not good for speaker pelosi. seems to me the far left runs the show. back with that in a moment. . . love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car.

i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.

stuart: happening hour, senate banking committee holds a hearing on the facebook digital currency, libra. david marcus, head of cryptocurrency projects. he will say that facebook is in no rush to implement libra and will address all regulatory concerns. as we promise you will get it real fast. now this. you watched "the five" on fox news you may have seen our colleague, jesse watters issue a challenge to alexandria

ocasio-cortez. say something nice about america. just one thing. good one, jesse. so far we haven't her much that is positive about our country from the young radicals known now as the "squad." president trump has goaded them into extremes. didn't need much goading. they're still talking white supremacy, concentration camps children in cages drinking from toilets, et cetera. enter speaker pelosi. she has been go aheaded into supporting the squad. they were in a bitter fight. now the speaker and the squad has come together to oppose the president's new asylum policy. it is an attack on immigrant communities and communities of color. the speaker has gone over to the rebels. when they appeared on the press conference they dominated the political news cycle. representatives ilhan omar, rashid talib, flat-out impeach him. that is not what the speaker

wants, the squad calls the shots. the far, far left runs the show. you can argue all day long about presidential tweets. mr. trump has drawn the opponents out and drawn speaker pelosi in. voters will have to judge the democrats by the standards laid down by the squad. i just don't see much of the country supporting aoc, rashida tlaib, ayana press sy, ilhan omar. you don't win elections by insulting our country. the challenge stands, can you say something, anything that is good about america? the second hour of "varney & company" just getting started. ♪ stuart: we follow the housing market closely. we have news on it from the national association of homebuilders. what is this? the confidence index. ashley: the homebuilders themselves, the people who put these houses together are coming in for the month of june at 65.

that is just up a tick from may which is 64. just, if you dig down a little bit, outlook for the next six months, up slightly from may. current housing situation up slightly from may. it is not exactly gangbusters but pointing in the right direction. we know interest rates are incredibly low. housing prices still high in comparison to wages. it has been hard for the housing market to get traction, despite the record low mortgage prices, getting people into the homes. stuart: that is a problem. ashley: better than in may. stuart: brand new tweets from the president on "the squad." just in. here we go. those tweets were not racist. i don't have a racist bone in my body. the so-called vote to be taken is a democrat con game. republicans should not show weakness and fall into their trap. this should be a vote on the filthy language, statements and lies told by the democrat

congresswoman ho i truly believe based on their actions, hate our country. get a list of the horrible things they have said. omar is polling at 8%. cortez at 21%. nancy pelosi tried to push them away. now they are forever wedded to the democrat party. see you in 2020. all right. okay. he is here. lawrence, double breasted suit, the whole bit. fox news contributor. >> thank you, sir. stuart: we must be paying you a fortune [laughter]. look, it goes backwards and forwards, on and on and on. >> this is a mess. let me say this, i said this on "fox & friends," i don't think the president's comments were racist, they are inaccurate, saying someone from the country has to go back. where are they going to detroit? stuart: he has drawn them out. he has drawn them out. he has pushed pelosi into the squad. >> i say the president sometimes makes errors when it comes to his tweets because he gets all

flustered, i think the sentiment, what he was trying to describe the hate for america this quad, i don't like calling them squad. they get to name themselves. media gets to name us but the media say we're the squad and media takes it. there is a faction of them that is leading the democratic party right now. that should concern all americans. the democrats were for obamacare. now all of sudden every single candidate is against obamacare. because of the so-called squad, bernie sanders, elizabeth warren part of the party. they have great influence. where is the republican squad? we never have people who will go down to washington to fight for our interests. they're fighting for their directs. with a general election they will not win with strategy like this. not in this election. with wrung people, people on college campuses i see every day, when they start voting,

when they start controlling the party as some of us go on to be with the lord, it will be real trouble. stuart: if we go on, when we pass a-- >> we pass away. you're in your 20s. that is my generation. i'm talking about you guys. stuart: wait a second. my premise, my editorial was, the squad, i know you don't like the name, but the squad has grabbed control of house democrats, pulled in nancy pelosi. >> 100%. stuart: they are now together. president trump has done that. >> talk about this race thing, okay? the squad just call, since we'll call them the squad, even know i don't want to, they called nancy pelosi racist. everybody is race i. they have completely destroyed the name racist. there are legitimate racists out there want to kill people, lost its value. it lost its value. if we're honest about the president of the united states, he has two categories of people, friend, enemy. if you say nice things about him, he will sing his praises no

matter what color you are. if you come after him he will come after you swinging don't care if you're republican, democrat, if you were in the military. he does not care. enemy or friend. almost like a videogame. stuart: i see him winning in 2020. >> he will win in 2020. he is going to win in 2020. but my concern is the long-term strategy. i think these people play the long game. the president will win re-election. these guys are insane. there are not people in those districts voted for obama, going to vote for this nonsense. it is not happening. stuart: i wish i had your energy. i wish i was. see you later, check the big board. pretty much go nowhere day. we had a series of record highs for the dow, well above 27,370. we slipped back. we're down a point. that's it. home depot, that is a dow stuck, got a ratings cut.

what did they do? ashley: from buy to hold. stuart: cut of ratings from buy to hold. that is not great but the stock is only down 60 cents on that one. now this, earnings season, yes in full swank. microsoft reports thursday. yes i do own some microsoft stock. scott martin is with me, kingsview asset management guy. all right, cot,, scott the market to some degree is on hold waiting for microsoft. microsoft has become the most valuable company in the world as i understand it. they're the one big tech company which is blemish-free. nobody is really attacking them or trying to break them up. if they do well on thursday, when they report, i think the whole market goes up in response. what say you? >> i agree. trillion dollar company. stuart, ceo, by the way everybody seems to love, that is doing a great job since he took over, nadella. i agree. microsoft will probably lead

tech and tech has been the leader of this market all year long, a certainly good part of last year, stuart. microsoft's numbers not only affect the company's price but other tech companies. watch microsoft's numbers. they are not just pcs, windows anymore, it is a.i., cloud computing, other productivity tools are crushing it at company. that is why we own it going into earnings. stuart: tell me about the economy. we have the earnings reports. a few have been released so far, they seem to be pretty good. retail sales figures this morning were extremely strong. seems to me, like we're all concentrating on politics and the squad and nancy pelosi and what have you, but underneath it all, there is a very strong economy, which could push us, the whole market into higher ground. what do you say? >> yeah. and that's kind of a great thing, right? seems like the haters if you will as the kids like to say are taking the eye off the ball which is the great economy,

underlying fundamentals and marketplace. that is when markets go up the most, when you're not looking, not expecting it. one of the great things about earnings season coming up, certainly earnings season in the fourth quarter, third quarter that will reflect, released in october, so forth, we're expecting lackluster earnings. maybe a couple percent of overall earnings growth. i've seen some estimates of maybe negative earnings growth because we have tough comparables to 2018, the reality is the bar is very, very low for this market. any positivity from microsoft as you mentioned on thursday, leading through tech week, the week beyond, those could be great catalysts for the markets and new highs. stuart: i shall be glued to the earnings report of microsoft on thursday. watch fox business very carefully. scott, appreciate you being with us. happening right now house speaker pelosi is about, we believe she is about to hold a news conference. the headlines we're looking for? whether or not the speaker will address aoc and her squad. this could get interesting.

we'll definitely keep you in touch with this. robocalls, everybody despises them, don't they? ashley: yes. stuart: what is it going to take to get rid of them? i'm asking georgia congressman earl buddy carter, he is on the committee to pass legislation that will get rid of robocalls this week. are you really going to do it? ashley: i hope so. stuart: this is the great story of the day, top secret base, area 51. a facebook group with a million members plans to storm the basins september. they have been warned by the military stay clear or else. later this hour, we have the author of the book based on area 51. i will ask her what is really there? people want to know. stay tuned you will find out. ♪ [ sigh ] not gonna happen.

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stuart: go nowhere, down two points for the dow, 27,356. look at roku. i believe it just hit a record high. yes, it did. up 5% today. that is $5 higher. however, domino's the pizza people going the other way. the stock fell short. the stock is down 12 bucks at 257. happening now in d.c., facebook senate committee hearings on facebook digital currency, libra. that is this morning. representatives from amazon, facebook, google, will be on capitol hill. they will answer questions about antitrust. look who is here, steve hilton, "the next revolution" guy. he wants to break up big tech, don't you. >> very much so. stuart: is it that bad? >> i believe in competition. competition is the lifeblood of markets. how we get innovation, vital

sectors of the economy you basically have no competition. there is no real competition in search. no real competition in soaks networks. if facebook had their way, there would be no competition in finance and payments. really importantly, there is no competition to speak of in what sustains all this, which is the advertising. and so i think it is really urgent that we break up these companies. there is a step, reverse the acquisitions they were wrongly allowed to make. so facebook buying up what's app and instagram because they saw that those platforms were going to be a competitor to them. so we don't want that. let's buy them off. the same with google. if you look at their acquisition of youtube that should be reversed. their acquisition crucially, something you don't talk about that much, because not so visible, doubleclick, that serves up the ads. that is crucial part how google has become dominant. stuart: just the law, the antitrust law, does it give you

the power? >> is absolutely does. it absolutely does. stuart: you have got to prove that the consumer harmed in some way. how is the consumer harmed by a free service like google search? >> it is not necessary to prove that. that is been convention. it is not in the law. for most of this country's history that wasn't the way that these decisions were judged t wasn't just about what's in the consumer's interest. there was a wider interest taken into account as well. that all changed, really start ing in the late 1980s. it all became about the consumer and low prices there is important for other factors to be taken into consideration, least not the other startups, next google, facebook, whatever it may be. we should look out for them. it is getting harder and harder to break through. stuart: not trying to defend this, but i would say all the money they take in, they spread it out to different industries and improve different companies

and different industries that is what they do. >> funny enough i wouldn't put amazon in the same category, if you look at markets they're in, retail, yes, they're dominant, depends how you measure, online books, amazon is basically a monopoly, take online retail, even within that space they're not excessively dominant. if you take retail all together, amazon is quite a small part. stuart: your target is essentially google and facebook are the primary targets, start with them? >> i know it is not the primary focus of this conversation, but we talk about their role in our democracy in terms of political debate and so on. a lot of people are concerned about that. all of that is less of an issue if they weren't so dominant. if i say so many times, if you had 100 facebooks, wouldn't matter one or two were completely biased against conservatives. you have the opportunity for others to come in pro-conservative. stuart: i worry about big brother. i don't like a couple of

millionaires, multibillionaires knowing everything about a couple billion people. >> right. they will even more, if the payments, they want payment system as well. aren't they dominant enough without taking over the currency that we use, the way we pay for things. stuart: just don't hold back, steve. get out there with a british accent. you can slay them in the aisles. pretty good. >> thank you, steve hilton, 9:00 okay on the news channel. thank you, steve. the happiest place on earth is tracking you, collecting data from the special bracelets you wear while visiting their parks. we have the story for you, interesting. joe biden keeping a promise president obama made and broke, saying if you like your health care plan you can keep it. we'll show you the tapes, back-to-back. what a thing. ♪ we're the slowskys.

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stuart: we had a series of record highs for the dow this morning. we're not at the high of the moment. we're up 12 points. the dow is at 27,372. johnson & johnson reported profits before the bell today. the impact from the baby powder cancer verdicts is hurting the stock just a little bit, not very much. we're down two bucks there at 132. now this, disney tracking vacationers at its theme parks with special bracelets. you know those bracelets you and your family wear as you walk around the park? so what? lauren simonetti is with us.

i don't see anything sinister. >> they have all the personal information. stuart: so does everybody else. >> how you spend your money, everybody has my person mall information. >> that is the point, we consistently trade privacy for convenience. i'm all about the magic band, that is one billion dollar investment. if you lose your kids, it shows where they are. that is more positives than negative. why isn't, i'm not saying should they be, why isn't disney on capitol hill? we give up so much information to them of our technology? why aren't they there? sheryl sandberg used to be on the board of disney. when they came out with this magic band in 2013, how do i know you're not surveilling my kids, what they like 20 do, their information? we trust disney. it is the happiest place on earth, maybe for surveillance but they are happy. i had friends at the park. if you have that band, when you get off a ride, they take the picture when you're on the ride.

you used to wait in line to wait for your picture? now as soon as you walk off, go by that area where you normally wait for the picture, it shows you the picture, knows you are you. you're okay with all this? stuart: yes. >> this is where we're headed as society. stuart: i start from the premise everybody out there knows everything about me and everybody else on this planet. these personal -- too, you got it. >> yes and no. biometrics, that is a different story. your image. stuart: should i be worried? >> about disney, no? i wouldn't be worried about disney, unless someone hacks information. that is better answer. you should always be worried. but for disney, this is how they make money. stuart and the family went on "the avengers" ride. time for a new sequel. make you pay for that. stuart: we get used to it, it is here, it is a ride. it will not go away. >> i'm scared. i'm scared about giving up my

privacy. i want to hold the paper ticket to wait in line [laughter]. ashley: there is no privacy. stuart: let me tell you, lauren, you're all right. thank you very much indeed. here we go. congress going after, so we're told, going after robocalls, go get em. how long will it take to knock them out of the park to stop it completely? i will ask georgia congressman, earl buddy carter, involved in the effort to kill the robocall. 50 years ago, america watched the first mission to land on the moon. we're marking the anniversary of apollo 11. i'm speaking with neil armstrong's son mark, he has real pieces of history with him. they are on the set. wait until you see what is going up for auction. ♪

hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪ dear tech, let's talk. we have a pretty good relationship. you've done a lot of good for the world. but i feel like you have the potential to do so much more. can we build ai without bias? how do we bake security into everything we do? we need tech that helps people understand each other. that understands my business.

we've got some work to do. and we need your help. we need your support. let's expect more from technology. let's put smart to work. ♪ ♪

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♪ stuart: i chose this one, first time in two years. we've been playing beatles at 10:30 couple years. the producers used to choose the songs. i didn't like their choice. i made the choice. fixing a hole when the rain gets in. ashley: what is it like to have that power? phenomenal. who knows what i will come up with tomorrow. market check, the dow is up 25 points. that is all-time record high for the dow jones industrials. check the s&p 500, down a tiny, tiny fraction. still well above 3,000.

check the nasdaq, where's that this morning? down a tiny, tiny fraction. still well above 8250. it is happening right now, senator sherrod brown questioning facebook's libra chief. edward lawrence joins us. brown had a fiery opening statement. what did he say? reporter: these are big remarks by sherrod brown. the head of colibra, david marcus, is trying to testify telling the senate banking committee here, colibra, libra will not compete against other currencies. senator sherrod brown is not buying any of it. listen what he said about facebook. >> facebook is dangerous. now facebook might not intend to be dangerous but surely they don't respect the power of the technologies, they are playing with like a toddler who has gotten his hands on a book of matches. facebook has burned down the house over and over and called every arson a learning

experience. reporter: that is senator brown continuing that, with that thought, with that line of question. now putting facebook on the hot seat right now, stuart? stuart: okay. it is happening right now, edward. thanks very much. very good sound bite. that was very instructive. edward lawrence, you're all right. thank you very much, sir. congress considering legislation which would ban robocalls and ban spam text messages. >> good. stuart: georgia congressman buddy carter is with us. you're on the energy and commerce committee. i will vote this week on a bill to ban robocalls. congressman, let me ask you seriously now, six month from now if we pass this bill, do you really think i will absolutely stop getting robocalls on this thing, i will not get another one. can you kill them stone dead? >> we feel like we can make a big dent in it. we feel like we can come close to eliminating it completely. the technology is there.

the companies have the technology. what we need is authorization, what we intend to give them in congress the authorization to stop these robocalls, which are some of the most annoying calls anybody gets. stuart: yes, sir. you're giving carriers, the phone line carriers, this power to stop the robocalls, that is what you're doing. >> that is exactly right. we, the chairman of our committee has met with at&t's chairman. they have discussed this. met with other carriers. they discussed it. they are confident they can stop it, if only they have authorization. what we're doing is directing the fcc giving them authorization to do just that. stuart: if this all goes through, and you've got this authorization, but i still get robocalls, can i sue somebody? >> you should be able to. i hope it won't be got of the because we're going to do the very best that we can but certainly companies that are doing this, the rogue actors, if you will, who are placing these robocalls, oh, by the way, last year alone we had over

48 billion robocalls. this year we already had almost 30 billion. that is almost 89 robocalls per person in the united states. that is how out of control this is. stuart: now we had the chair of the fcc, ajit pai, he was on the show this week. he too is moving to ban robocalls. why do we need both action by congress and the fcc? >> our actions in congress will allow the carriers, give them the authorization to stop it directly. they have the technology available to stop these calls, to stop the spoofing where you get a call from a number that looks very familiar. in some cases it might be from a hospital or a health care provider. you think, oh, my goodness, i have got to take that call, that is a very similar number to my hospital or to my doctor's office. you answer it. we can stop that, that is what we're going to give the authorization for the companies

and carriers to do. stuart: congressman, i can't imagine any member of congress voting against this. is there any opposition from anybody to your bill? >> not that i'm aware of. i'm like you, you can't imagine anyone would be opposed to this. if you have gotten one robocall, that is one too many. stuart: yes, sir, it is. i get them on the show, while i'm sitting here on live television the phone will ring. it ties up the phone. i can't say take a message, can't do that, because they just call you back. >> that is very important. what is even worse is that, some of the hospitals are getting inundated with these robocalls, they can't perform their most necessary work. stuart: very very russ stuff. we wish you well, congressman. we really hope you succeed. we hope you come back and say varney, you will never get one of those calls again. >> thank you. stuart: buddy carter, always

appreciate it. quickly to the big board. this is not quite the high of the day. we're awfully close. 27,384 is where we are now. series of record highs hit this morning for the dow jones industrial average. it is now, 10.36 precisely. that means, brian kilmeade, radio show, "brian kilmeade show" joins us now. i want to talk to but the squad, nancy pelosi, speaker pelosi. seems to me that the squad, if i can call them that, now runs the show in congress. they're completely co-opted pelosi on to their side. they are running the show. am i right? >> stuart, i think so. the president made it clear with his tweet this morning saying they're the most powerful force. this is what democrats think. he wanted to complete the circle, make sure democrats were labeled by the squad's beliefs even though they're not. they get the most publicity. demand to be on the for front of

most issues. some of their thoughts do not reflect the democratic party in some respects. some way they're pushing them there. if the democrats challenge them on issues, wouldn't go out to leave the country, we wouldn't talk about race go down that path where nobody wins. stuart: you draw them out. >> keep that out of it. focus on policies, as lindsey graham said on the show. don't punch down. stuart: no. he has drawn them out. that is what the president has done, four people on the left-hand side of the screen, they're known as the "squad." they're known as "the squad." put them more to extreme positions, pulling nancy pelosi with them into untenable, urn electable positions on issues. specifically the border. i think the president is, not going to say he has won this twitter battle but he has drawn them out, made them go to

extraordinary extremes? >> stuart, you have a great point, it is your show, it is named after but i think it is appropriate, your show, i named this show after me, but i would say this, my problem with the whole thing is that now you have joni ernst, who has to condemn him in purple state that will be tough to win. susan collins has to do the same thing. it is not personal animus anymore. they want to back the president, there are certain things that have connotations lead some to believe aren't as emersed into poll that you and i are, there are racial tints to the conversation. president is not racist. you had a chance to talk to him. i've been friend with him 15 years. mike tyson, darryl strawberry, george foreman, spent quality time, dr. ben carson, they scoff at notion. when tim scott has to condemn what you say, knowing tim scott is one of his biggest fans, that is the the issue. make it easier for his friends

to support him. three years in, we're looking at that line. that is the disappointing part. stuart: what i'm coming from here, i'm were jesse watters on "the five." remember couple weeks ago, you appear on "the five" occasionally, jesse said, aoc say one thing, one food thing about america. and they don't. that is a pretty good challenge. i'm with jesse watters on this one. >> because you think jesse is really cool and he hangs out with fun people and he goes to great clubs, you want to kiss up to jesse watters. that's what you're choosing to do, stuart. stuart: he is 50 years younger than me. he can do what he likes. kilmeade, our time is up if i'm not mistaken. is that right? stuart varney, thanks so much for sharing your airwaves. i appreciate it. say hello to the panel. give them a hug. stuart: excuse me, we do not do panels on that program. no hugging. no hugging. no, we don't do that. no hugging, that's it. get out of here kilmeade. you have a radio show to do. >> what about a good-bye?

get out of here? what happened to decorum in this country? stuart: dow jones industrial average hit another record high which you will not report, but i am. that is serious good news. >> i'm talking to these two guys, nflers and brothers, great story. stuart: keep me out of it. as i said, new record high for the dow. you had it right there. how about this one, a facebook group with almost a million members plan to storm the air force base area 51. they will try to do it in september. the air force says, don't do that, that he will protect the base. do those people need warnings? we'll discuss it. neil armstrong son will be live on set with some of his father's items from the first moon landing, from the moon and back. now up for auction. ♪

stuart: new numbers on the federal deficit. kristina partsinevelos is here to tell us how big the number is. reporter: it's big. expected to be one trillion dollars, surpass one trillion by end of the year which is october 1st. stuart: sorry to jump in like this. that means between october last year, october this year our government overspent to the tune of one trillion dollars. reporter: reached one trillion. to report to add to the explanation, what the deficit is, difference between what the federal government takes in versus putting out, right? the debt is how you're using it, money owed, what the government has to pay previous deficits, that number is at 22 trillion. the big question overall, should we be scared or concerned? the economy is so strong. we obviously needed to spend more to help things grow.

look at ratio of debt-to-gdp. that is getting more complicated. it has surpassed. the argument for the other side, the president said in his candidacy he would wipe out both numbers. that is a work in progress. stuart: hard to say. you have a trillion dollar deficit at a time when the economy is doing really well. unemployment is very, very low. you shouldn't be like that. shouldn't have a trillion dollar deficit. >> that is bipartisan. stuart: you cannot cut government spending. you can't do it. ashley: impossible. stuart: a trillion dollars, good number. thanks, kristina partsinevelos. a facebook group i should say, called, "storm area 51". that is the name of the group. they have a million members. they will storm area 51 on september 20th. that is area 51 supposed to be alien remains, supersecret all the rest of it.

annie jacobsen, has written a book, "area 51". let's go after this. are there any alien remains in area 51? >> i certainly don't know about that. area 51 is a classified military facility with a lot of top secret programs from the military and intelligence community partners and the idea -- stuart: look, do you think that there is anything in this, all this -- you've been hearing about this for 40 years. there is alien remains in area 51. there is something fishy going on there with outer space. is there? >> well, certainly to a lot of people i think it is the, sort of home base of reverse ufo technology. that is one line of thinking. a lot of people, are involved in that narrative. i think that is what is really culminated this whole idea of

storming the base and finding out if there is any truth to that mythology. of course it could never happen. you're talking about a classified military facility and there is no way anyone will get near the gates of area 51. stuart: there is whole cottage industry around area 51, isn't there? >> well, yes. of course recently, just this past winter the pentagon released information that it has been tracking unidentified flying objects, whether or not they are military in nature, who knows but this sort of stimulated a whole new idea about area 51 being home to captured ufos and aliens. stuart: will you be there on september whatever it is? are you going? will you storm it september 20th? >> i'm not going but my teenage son asked me if i thought it was a good idea. stuart: okay, probably not.

annie, terribly sorry to cut it short. i'm out of time. i will leave you with area, what is it area 51 and the space aliens. annie, we appreciate you being with us. >> thanks for having me. stuart: 50 years since america launched the first mission to the moon. today the apollo 11 astronauts are returning to the launchpad that got them there. here on "varney & company" we have neil armstrong's son mark in the studio. he has some pieces of american history that are going up for auction including his father's space suit. that is next.

♪ stuart: on your screens that is accurate, it is the 50th anniversary of of apollo 11 launching to the mean. we have mark armstrong, the son of neil armstrong, the first man on the moon, that correct? >> that is correct. stuart: you have brought a number of items from your family that will go up for auction. i want to go through what you brought with you. on my left-hand side, that is a flight suit? >> yes it is. stuart: what is the difference between a flight suit and a spacesuit? >> the flight suit doesn't have

the protection a spacesuit would have for harmful radiation and certainly, and the fact that there is no atmosphere on the moon. this is a suit they would wear, you know when they were training. stuart: that is your dad's suit? >> it is. stuart: he actually wore that one? >> yes he did. stuart: there is some value i do believe. >> yes. stuart: now you have got this flag. janet armstrong? >> that is my mother. stuart: that is your mom? >> that is her personal flag, they flew it on july 20th, 1969. they presented it to her afterwards. flu it on the capitol. stuart: here is what i really like, the apollo 11 flight plan, right there? >> that's correct. g-mission. stuart: that tells you where to go and how to fly? >> the training was very extensive. they had to document everything and it was always being updated, as engineers found new things, ran flights.

apollo vii, 7, 8, 10, they were all learning new plans. so we could stay up to date on the mission. stuart: that is historic. that is what your dad used, isn't it? >> it is absolutely, yes. stuart: the other one on the right-hand side there, that is what nasa was telling your dad to say when he got on the moon? >> well, this is a letter that talks about the debate they were having, should they tell him what to say, should they let them decide? they decided to let him decide what to say. stuart: he decided, one -- >> one small step for man, giant leap -- stuart: one giant leap for humanity? >> for mankind. stuart: mankind. he said that? >> those were his words. stuart: nasa didn't tell him to say this and this? >> not at all. stuart, he said, well i figured that i was going to be taking a very small step but it was going to mean a lot to a lot of people. he said, the phrase, just, emerged from that simple

thought. stuart: i should tell you when your dad actually landed on the moon, july 1969, i was walking through a bazaar in tehran, iran, i looked like an american. i was dressed like an american. all the way through the bazaar, they were saying to me, apollo, apollo. they all recognized the significance of what your dad had done, what america had done. >> what america had done. 400,000 people worked on that program. everyone of them, you know, put their heart and soul into what they were doing so that mission would be successful. stuart: now, these items that you brought with you, they're up for auction i think? >> at heritage auctions. stuart: the proceeds go to? >> the proceeds go to our family. we'll use those proceeds for the betterment of this planet and everyone on it. stuart: you're all right. mark armstrong, thanks for being with us on a historic anniversary. love to have you with us. we appreciate it. stuart: thank you, sir.

next case, something really, really different. that man on the screen. that is peter thiel. he wants google investigated. he is very important guy, very powerful. thiel is he says is helping communist china. when someone like thiel talk, people listen. i will have editorial at top of the hour. he is worried about senator elizabeth warren more than any other democrat candidate. we'll tell you why. we have news on housing. hispanic-americans buying homes faster than any other group. that is coming up in our third hour. we'll be back. is is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker.

yes! how'd you know? studying my playbook? yeah, actually.

stuart: peter thiel is the co-founder of paypal. he's on the board of directors of facebook. he is powerful, he is influential. you pay attention to a man like this, especially when he's calling out a tech giant, particularly when he's accusing

that company of treasonous behavior. the company, by the way, is google. thiel has doubled down, after delivering the treasonous comment at a conference of conservatives, he followed up with an appearance with tucker carlson on fox news last night. he wants google investigated by the fbi and the cia for their alleged ties to china's communist government. he offered no proof that beijing had infiltrated google's artificial intelligence project. no proof of that. but he finds it suspicious that google will not work with the u.s. military. he told tucker a broad base of google employees are idealogically super left wing, anti-american, he says. that is serious stuff. this adds a new dimension to the big brother criticism of google. a couple of multi-billionaires control a company that knows everything, absolutely everything, about you and two billion other people. we're supposed to just sit back and trust them?

ten years ago, google was a darling. it could do no wrong. now it's a -- it has a very different image. peter thiel has already had impact. he's called for google to be investigated and the call has been picked up by the president. in a tweet this morning he said last line, right there, the trump administration will take a look. watch out. the third hour of "varney & company" is about to begin. it's probably, you know, a broad base of google employees that are idealogically super left wing, sort of woke and think that china's better than the u.s., or that the u.s. is worse than china. it's more anti-american than anything. stuart: there you have it. peter thiel was on tucker carlson last night. as we said, doubling down on google. i want some reaction to this and who better to react to it than

the director of a documentary on this whole area, the documentary pulled the curtain back on big tech. have a look at this for a second. >> this is what i call the creepy line and the google policy about a lot of these things is to get right up to the creepy line but not cross it. >> google crosses the creepy line every day. the entire internet economy is literally based off of surveillance. >> the idea is we take all the world's information and make it accessible and useful to everyone. stuart: there you have it. the creepy line. the director of that movie is this man, matt taylor is with us. welcome back. >> glad to be back. stuart: peter thiel is really out there saying hey, the cia, fbi, investigate google because they got ties to the chinese about artificial intelligence. do you believe that? >> look, i don't think it's out there at all, because let's put it on the table. google is the largest surveillance company in the world. they have collected millions of points of data on every man, woman and child in this country.

in order to work in china, you must work with their government which has very thin walls to the military and to their intelligence community. if we know that google already has kind of the inclination to affect american elections and they have to follow chinese rule to do business there, who is to say that when they're writing algorithms there's not an intelligent agent behind them saying hey, in order to do business in our country, why don't you just add a couple things here and change a couple things there. stuart: now, google has issued a statement saying we do not work with the chinese military. what do you make of that? >> look, that's the statement that google issues on pretty much everything. we don't do anything you accuse us of doing. well, of course they are going to say that. but again, you cannot do business in china without having some connection to their intelligence community and their military. any tool, especially a.i., that google helps the chinese build, will absolutely be used against the people in this country,

because that is their goal. stuart: the project that google has for working on artificial intelligence is called the manhattan project, which just happens to be the same name as the manhattan project which created the nuclear bomb back in the 1940s. so that tells us that artificial intelligence is of supreme importance, and thiel is saying it's so important that you have to expect foreign intelligence agencies to get inside and have a look at it, to infiltrate that department. that's where i think, that's his line of attack, isn't it? >> absolutely. look, a.i. will allow you to ought ma automate all sorts of things. a.i. is really cool. but if you are going to build a.i. for a dictatorship or totalitarian regime, all they are going to do is automate their totalitarian regime. they will be able to track people, find people, round up people. this is what google will help this government do. it's really important to understand that these are the tools they are building and this

is the country twhanhat wants te these tools to do totalitarian things. stuart: matthew taylor, you went right at it there. thank you very much for joining us. >> my pleasure. stuart: appreciate it. good stuff. happening today, and now, on capitol hill, the senate banking committee is taking on facebook's digital currency, the libra. treasury secretary mnuchin is not on board with libra at all. he says look, you can misuse this thing, misuse -- criminals can misuse it, terrorists can get on board. he doesn't like it at all. the price of bitcoin took a little bit of a hit because of this anti-libra feeling. bitcoin, one of the original cryptocurrencies, is down 300 bucks at $10,436. i want to bring in tech watcher tommy stadlin. tommy, do you really, do you think there is room for an unregulated libra out there today? >> well, i think the very fact that you've got the president tweeting about it and the

treasury secretary having a go at it, in a way is a victory for cryptocurrency. the adoption curve of new technology is first they ignore you, laugh at you, fight you, then eventually you win. to some extent the fact this is such big news is a signal that cryptocurrency, bitcoin and libra, as you mentioned, are growing in prominence but to your question, will the fed ever allow a major currency or currency equivalent to exist beyond their control, they're not going to go down without a fight. do expect significant regulation in this space. stuart: can they stop it? can you just stop libra and say no to -- you can't really do that, can you? >> what's interesting is it's really very hard to stop bitcoin because by nature it's decentralized. libra is a little different. it's controlled by facebook. it's not actually decentralized. and it is tied to a basket of traditional national currencies and other stable financial instruments. there is much more scope for a government entity to come in and say we are going to work with the controllers of this,

facebook and the other members of the consortium your watchers will know, and say we want to regulate them, this is how we are going to do it. because it's not actually decentralized, it's a little easier to regulate. stuart: do you think that at some point in the future, there will be some form of alternate currency used worldwide to the dollar? >> i think we already see that with bitcoin, although with bitcoin, it has ended up being more of a store of value, so more of a gold equivalent. where libra stands a real chance, because it's more stable than bitcoin, and because the transaction costs are lower than bitcoin. it is a potentially very good mechanism for payments, for exchange, and given it is backed by people like visa, mastercard and facebook, you can already see there is a route to it becoming a mode of payment that is simpler and easier for people to use than the dollar, and can certainly bring the unbanked into the financial system and be

financially included. stuart: just fascinating stuff. thank you very much for being on the show. i find it hard to wrap my arms around this thing and understand it properly, but you have done a great job in explaining it. we appreciate it. come back and see us again soon, please. this is not going away. this is going to be a news story for a long time to come. thanks very much. appreciate it. check that market, please. what are we checking first? amazon, for a start. this is the second and last day of their amazon prime days. they took in $4.2 billion worth of sales last year. some expect it to hit $6 billion this year. amazon stock is down a tiny fraction at $2,020 per share. retailers, back to school shopping season starts up soon. new reports say this season's going to break sales records with each grade school family spending a whopping $697. add about $200 to that if you're

off to college. $97 $978 per family. only walmart is down and they are close to a record high. $114. the big board shows a gain of 28 points. we set a series of record highs on the dow this morning. right now we are at 27,386. we are watching interest rates. the yield on the ten-year treasury not doing very much this morning. 2.12% is your yield. now this. joe biden out front, selling his $750 billion health care plan, repeating president obama's very famous promise. remember that one? you can keep this, you can keep that? sound familiar? roll tape. >> if you like your health care plan, your employer-based plan, you can keep it. >> if you like your plan and your doctor, you can keep them. >> if in fact you have private insurance, you can keep it. >> if you like your doctor, you will be able to keep your doctor, period. if you like your health care

plan, you will be able to keep your health care plan. stuart: did biden just make a political gaffe by backing the same kind of promise that president obama made back then? i don't know. you be the judge of that. at 11:30 this morning, president trump holds a cabinet meeting. he went on a tweetstorm earlier today. that meeting could bring us some headlines, too. stay with us, please. third hour of "varney" just getting warmed up. ♪ (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.

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stuart: tesla's stock not doing very much this morning. in fact, it's down a couple bucks at $251. there is both good news and bad news on tesla. deirdre is here. give me -- i want the good news first. deirdre: tesla model 3, the compact version, now has 63% of the electric vehicle market. that's huge. whenever you say a product has more than half of the market in

its category. hats off to tesla. obviously a lot of people saying elon musk is not the best on execution, but i have to say whatever gaffes, whatever missteps he's had, i also want to highlight in this top five list, three of the five models are teslas. stuart: so they dominate the electric car market. period. deirdre: yep. model x, model s, model 3 at the top. stuart: i call that good news. however, now the bad news. deirdre: federal tax credits have been cut in half for these electric vehicles. some analysts saying not sure how that will affect the second half of the year but the first half has been very strong for tesla. stuart: good. i'm tired of tax things trying to encourage this and that, stiffing anybody who makes too much money. you can't get a tax break. deirdre: or to try to force you to buy a different kind of product. stuart: elon musk can get out there and sell these tax credits for cash. not sure i like that. that's bad news. i want to run this tape one

more time. president obama making promises about obamacare and joe biden making similar promises about his health care plan. roll it again. >> if you like your health care plan, and your employer-based plan, you can keep it. >> if you like your plan and your doctor, you can keep them. >> if in fact you have private insurance, you can keep it. >> if you like your doctor, you will be able to keep your doctor, period. if you like your health care plan, you will be able to kep your health care plan, period. stuart: senator mike braun is with us, indiana republican. knows a thing or two about health care. sir, mr. senator, would you like to comment on the joe biden plan? >> it's the definition of insani insanity. stuart: okay. >> when you push something that's been a classic failure, it was big government getting involved with big insurance companies, doomed to fail when

it started, but it doesn't, you know, the idea of covering pre-existing conditions, no cap on coverage, things i did in my own business, we need to direct it to a new process which is getting the industry to get efficient, address individual policy holders through associations and pooling. don't put on steroids a program that failed. the industry needs to be fixed so that they get more competitive and do a better job, and that's what i'm behind. don't go back to a failed process, try to stimulate the industry into doing a better job, or they will pay the price in the long run because all these crazy ideas will make it through. stuart: pure politics, for a second. was that a political gaffe by joe biden to make the same kind of promises that did not pan out from president obama? >> i think it was a gaffe in the sense that there is so much information and evidence that why would you want to come out

and repeat those same mistakes. and you never hear anything from democrats about lowering costs. if we get the industry in gear, transparency, competition, reform it, you would get your cake and eat it too, and not have more government which has proven in a test case it's not going to work. so yes, he's going to be back on his heels defending a broken system. stuart: now, you and i have often spoken about these rebates that are still being paid to the middleman in the health care business. i know you have opposed these rebates. what went wrong? why couldn't we stop them? >> what went wrong, stu, is what's going to go wrong with the health care industry. if they keep digging in to try to keep the benefits of what's made them 18% to 20% of the gdp without thinking about reforming themselves to be there in a healthier fashion for employers,

individuals across the spectrum, you know, they are going to make the ultimate mistake. fighting pbm rebates from going directly to the patient, to the pharmacy, was a mistake. i was disappointed in the health care lobby, the pbms that redailied r derailed it and a government that was so obtuse it only measured the potential costs in medicare premiums might go up, where it will save five times as much as in the private sector. classics things you run into here where you think people are smart enough to see through the confusion. stuart: if you could just get the cost of health care down across the board, that is the biggest election winner of the century. that is my personal opinion. >> exactly. it helps medicare, helps medicaid, and the private sector. we are all happy and we don't break the system. it's got good components to it. it just needs to get more efficient, more transparent, less costly.

stuart: how are you enjoying life in politics? don't answer. don't answer that question, please. i have asked you so many times. senator braun, always a pleasure having you on the show. come back soon. >> good to be on. stuart: yes, sir. better check microsoft. it's not -- actually it's down. don't check microsoft. it's down $1.69 at $137. the big deal is, though, that come thursday, they report their earnings report -- they report their profits, market share. i think that's going to be a very very big deal. we will see how they do. look at the other big techs. facebook is on capitol hill at the moment. facebook's stock at this moment is actually up. they are under pressure about their libra currency but the stock is actually going up. senator john kennedy just called facebook b.s. we are going to work on that sound, try to bring it to you. we will bleep it out where we have to but you will hear it. couple of disney stories for

you. abigail disney went undercover to see working conditions at disneyland, doesn't like them. she's livid about it. and the magic bands you wear at the parks? disney collects data from them, tracks vacationers' every move and makes money off it. deirdre bolton was just at disneyland. deirdre: i certainly was. here i am in the millenium falcon, i am a pilot, thank you very much. stuart: i have to say, those magic bands, you don't -- okay. we will deal with this after this. ♪ - why are drivers 50 and over switching

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stuart: let's get to the disney stories. number one, disneyland got the undercover boss treatment, abigail disney went to see how the workers and what they're experiencing on the job. she wasn't happy. ashley: she wasn't. she went because she got a message on facebook saying hey, it's miserable here, not the happiest place on earth, it's the saddest place. she went undercover to check it out. and she said this. quote, every single one of the people i talked to who worked there said i don't know how i can maintain this face of joy and warmth when i have to go home and forage for food in other people's garbage. stuart: oh, dear.

ashley: so of course, now disney has come back and said look, this is ridiculous, we start at $15 an hour, we have education opportunities, health care benefits, subsidized child care. but of course, abigail disney is upset that bob iger is pulling in whatever his $65 million pay package. she called that insane. she's on a rant about this. stuart: she is indeed. those magic bands, the wrist bracelets you get when you wear them in the theme parks, deirdre, you have been covering this. it sounds sinister, as if disney is collecting information on you. deirdre: exactly. listen, it's the trade people make every day. they give a little information to get convenience. with that band, first, it's opt-in. make that point. second of all, it can hold your place in line, can unlock your hotel door, can pay for snacks. you just have to decide, if you don't want disney to have that information, you don't wear the band. it's that simple. the thing that became very controversial was were kids able to be tracked.

personally if i had little kids in disney world or disneyland, i would actually rather them be tracked and be able to get them in lost and found but some people were very much against that. stuart: get them in lost and found. like an umbrella. seriously, let's get to the economy. it is booming. the market's hitting record highs today and other days. maybe all of that, though, news on your money, is overshadowed by politics. the squad on your right and the tweetstorm on the left from the president. we are covering all of this, believe me. the markets right now on the upside. small gain for the dow, 27,362. the president is about to start a cabinet meeting. could get some headlines. the president has been on a roll this morning. you should see the tweets. we will bring everything to you momentarily. ♪

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high. happening at the white house right now, president trump meets with cabinet members. now, he usually talks to the press afterwards. if he does, you can be sure we will bring you everything that he says. i think the economy is really doing very, very well. as you have seen on this program, the markets keep hitting record highs. but is the news money overshadowed by on the left-hand side of your screen, the squad, the extreme left group that seems to dominate the democrat party. i have two guests on this. number one, john taft, vice chair of behr. this man is a heavy hitter. ryan payne is the president of payne capital management. he's with us as well. john, first to you, it seems to me that the market and the economy are doing very very well. it's all overshadowed by this political strife going on in washington. >> there's no question that this is the most joyless bull market in our lifetimes and it's the

most underappreciated economic expansion of our lifetimes. but i'm not sure i would go so far as to say it's a robust economy right now. there's no question the trade spat that we have been having, most seriously with china, to some extent, europe and mexico, has taken a hit out of global growth. we are seeing it in some of the numbers. we didn't see earnings today but it is reflecting in the economic outlook, which is still kind of, you know, muddle through economy. stuart: but it's still going to be -- larry kudlow told me yesterday you are going to get 3% for the year, for the calendar year 2019. that's pretty good. >> yeah. i think that's a little bit above our estimates. we would be more in the 2% range. nonetheless, we are in the tenth, 11th year of this extended economy and bull market and the danger sign is always a recession. do we see any hint of recession, none right now. recessions kill bull markets.

all signals look placid for the time being. stuart: excellent. thank you, john. same question to you, ryan. is the market and the economy news overshadowed and downplayed because of the strife in politics? >> i don't think so. i think most of us walk out the door in the morning, we missouri the econo know the economy is good right now. you see lines around the door at lord & taylor to buy things. you talk to people, business owners, people are very very optimistic. maybe the news says one thing but walk outside your door, and you know we are in a relatively strong economy right now. stuart: back to amazon's prime days. i think it's going gangbusters. you can't see it, though. you sit at home ordering stuff, it's not like waiting in a line at the store. >> just my apartment building, i walk in at night and there are boxes laying everywhere. it's a sign of good times. stuart: we can agree the economy is doing well at this point. >> yes. we can. i would add, though, that i do

think uncertainty is elevated from a policy standpoint in washington and a geopolitical standpoint, and i think that is reflecting itself in more subdued business sentiment than we had a year ago. stuart: okay. i'm going to broach the subject of politics with you again. hold on a second. i want your take on peter thiel, on tucker carlson's show last night he said look, senator elizabeth warren is the biggest threat to donald trump's re-election. roll tape. >> i'm most scared by elizabeth warren. i think she's the one who is actually talking about the economy which is the only thing that i think -- the thing that matters by far the most. stuart: what do you say to that? he's scared about elizabeth warren talking about the economy. >> well, i don't know that i'm scared by elizabeth warren, but -- well, she is definitely coming from a point of view that there is something wrong with our system of financial

capitalism. all right. she hasn't gone as far as bernie sanders or other candidates, the squad, not being political candidates, to say socialism is the answer. but she definitely wants to prescribe meaningful changes to our system of capitalism and she's introduced an act, the accountable capitalism act. she's introduced the idea of a wealth tax, 2% for a net worth over $50 million, 3% over $1 billion. those are significant modifications to our capitalist economic system, but they don't go all the way to being socialism. personally, i think this is a great debate to be having. what do we want from capitalism? let's not devolve into personal animosity and identity politics. let's keep our eye on the most important issue. what do we want from our economic system. stuart: prosperity. >> yes. prosperity for whom?

prosperity in what way? that's the question. those are the questions that are being asked. stuart: ryan, you tell me this. how would the market react to elizabeth warren presidency? >> it just doesn't matter. bottom line, the business of america is business. stuart: really? >> i really believe -- stuart: whoa, whoa, whoa, whoa. it doesn't matter? back up. back up. elizabeth warren would force all companies to go to the federal government and ask permission to do business. >> would it get through the senate and the house, i don't know. i think the bottom line, you look at it fundamentally the way our system is set up, the bureaucracy will keep that slowed down. that's my take. stuart is ready to -- stuart: i can't see how you can say it doesn't matter. when you've got a political party that's gone as far left as this and could actually win the election in 2020, i am very worried about the markets and very worried about the economy and our prosperity.

but you're not. >> no. i think right now, the economy is strong, it's going to continue to be strong and i think first off, that's probably a good reason she probably won't get elected just because people will vote with their wallet come 2020. but i also think that when you just look at the dynamics of u.s. economy, you know, i don't think that politics can shut down capitalism. stuart: well, we live in hope, do we not. john, ryan, gentlemen, thanks very much for joining us. thank you. not sure who's right here. i am. next case. beyond meat, teaming up with blue apron, yeah, the meal kit people. deirdre, blue apron's stock is up 38%? deirdre: 38%. just keep in mind, this company really has been limping along. it had to avoid being de-listed in the new york stock exchange. the price is low so it's easier to have the big percentage gain.

it's up better than 38%, worth pointing out. they will be offering this beyond meat product in its meal kits as early as the end of the summer. that's really what the stock surge is about, that more and more people want to eat meatless. in fact, some analysts say this will be a $100 billion business in the u.s. because some people are worried about the environment, some people want to go meatless because of their own health. but there's a lot of consultants out there betting on alternatives. stuart: to me, i wouldn't go to a restaurant specifically to order a meatless burger. but i wouldn't mind going to the supermarket and buying some meatless meat i can prepare. deirdre: this is in a meal kit, maybe you notice it's meatless, maybe you don't. you're okay with it. stuart: if the day ever comes that i cook -- deirdre: all right. all right. that sounds like a show idea. stuart: oh, no, no. don't start with me. deirdre: let's do it. stuart: i'm changing the subject. some people in sweden have jump-started the future of

banking, inserting microchips into their hands to avoid carrying cash or a credit card. is this really where we want to be headed? we will answer the question, i promise you. the president meeting with cabinet members right now. we expect to get some headlines from him eventually. you will get them as soon as we do. we are also going to play that sound bite from senator kennedy calling facebook b.s. in the libra hearing. stay with us. what a show do we have for you. ♪ ♪ all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook?

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is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪ stuart: i like this expression. the future is now. for some people in sweden, it is, because they've kind of figured out a new way to pay for things. i believe it starts with a little pinch of the hand. tell me more. deirdre: it sure does. it's like a grain of rice, feels just like a little tattoo. 4,000 people have tried this and essentially, you go to the store and go like this, you wave, and

you pay for what you want in sweden. stuart: i like the sound of that. deirdre: you like the sound of it. you are going to sit there and get a tattoo pinprick? stuart: no, i wouldn't actually get it. i like the sound of it. deirdre: if you are looking for convenience, there's the fast track. stuart: do i have to have the thing under my skin? deirdre: you got to commit, stu. stuart: talking about rings, got to commit. where are you working next? deirdre: wow, look at this arm. a shame you had to go. stuart: i will change the subject all over again. housing trends. we watch them closely. according to census data, home ownership among hispanics is booming. actually, driving the market to some degree. but among african americans, home ownership is at its lowest level on record. jerry howard is back with us, a glutton for punishment, this guy. he appears in new york all the time. nahb chief. give me some insight.

hispanics moving the market, really powering the market? >> well, it's really interesting. hispanics only make up about 18% of the total population, yet they are 63% of all the new home buyers since the recession ended in the last ten years. it's amazing. stuart: you're kidding me. >> what we are doing, we have been studying it a little bit whan and what we think we see, hispanic income has risen significantly since the recession. also, we see an increase in education levels among hispanics. thirdly, for some of the newly arriving hispanics, they are used to paying cash for big purchases. that helps them avoid the complexities of the mortgage system. those three reasons we think are what's driving hispanic home ownership. stuart: i want you to repeat that. let me see if i've got this right. in the last ten years, although hispanics make up just 18% of the population, they are responsible for 63% of the purchases of new homes or homes in america. >> that's correct. stuart: is it just new homes?

>> all homes. stuart: all homes. 63% in the last ten years. that is astonishing. >> it's amazing. it really underscores the problem that african americans are having. they're not seeing the same increases in either education or income. moreover, those african americans who are homeowners are among the only ones who are not seeing an increase or as high an increase in their house values. so while african-american home ownership and housing in general seems to be repressed, hispanics seem to be reaping the benefits of the economy. stuart: just fascinating demographics going on here. separately, at 10:00 this morning we got the latest figures on home builder confidence. i don't read much into this. there was a slight increase, improvement in confidence. is this a big deal? >> the improvement is not. the fact that we are still at a good solid in the mid 60s for as long as we've been shows that to your point earlier this morning, the economy at least is still pretty solid. maybe not overwhelmingly good,

but chugging along in a good positive way. stuart: you guys have to struggle against rules and regulations rather than the economy. i mean, the economy is very much on your side, but it's the politicians and rule makers who are against you. >> i completely agree with one of your earlier points. that is that whoever is sitting in the oval office has a great deal of power over the economy. executive orders and presidential regulatory authority can really turn the economy in our sector on a dime like that. so we're very concerned about who sits in there and what impact it will have on our industry. stuart: most of you guys are happy with president trump in the oval office? >> i think that's fair to say. yes. stuart: yeah. i'm not looking for you to be a gung ho supporter but he's doing what you want him to do. >> he understands our industry. he has taken great steps to ease back the federal regulations. he signed an executive order last month asking all of the government agencies to look at what's holding back affordability in home ownership and housing.

he's taken strides that i haven't seen in my career. stuart: 40% of the cost of building a new home in california is regulatory costs. >> san diego county, that's correct. it's outrageous. stuart: just san diego county? >> that's the worst. stuart: 40%? >> 40%. stuart: jerry howard, always a pleasure having you on the show. much obliged to you. thank you. i'm going to go through a couple of markets for you, bring you up to speed on money. first of all, gold. $1,410 per ounce. that's gold right now. price of oil, not at $60 a barrel. $59.55. that's where we are. now this. we got some fireworks on capitol hill. senator kennedy using the expression "b.s." when talking about facebook during the libra hearing. it's a complex process to bleep something like this out but we've got it for you. we did it. we will play it beeped, next. ♪ i'm really into this car,

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stuart: all right. to the facebook libra hearings. here is the sound of senator john kennedy calling facebook b.s. roll tape.

>> isn't it true, i really want your opinion, that facebook has chosen to advance a set of values in which truthful -- truthful reporting has been -- has been displaced by flagrant displays of [ bleep ]? >> i don't know how to answer that question, senator. ashley: it was the blank stare that was hilarious. stuart: senator kennedy is a frequent guest on this program. he has a habit of coming up with some of the best one-liners. deirdre: i was going to say, he has a very interesting vocabulary mix. that's one of the flagrant examples. it all goes together. ashley: that wonderful louisiana accent, too. stuart: the accent is the icing on the cake. the poor facebook guy. deirdre: very polished. stuart: we thought we would

bring it to you because it was fun. big night at this year's emmy awards for "game of thrones." what is it? what have they got? 32. deirdre: record. record, record, record. you watched this. ashley: i did. the previous all-time record was 27 by "nypd blue." remember that? great show, back in 1994. so big vindication for hbo. netflix last year had its way. deirdre: i was just going to say, that's the bigger -- i feel like the bigger story is that netflix was dominating, dominating, then this gave hbo a little shout-out. stuart: wait a second. "game of thrones." isn't that one of these fantasy things? deirdre: do you like tolkien? stuart: no. no. ashley: that's cool. stuart: that's cool? ashley: if you're a 13-year-old boy. stuart: wait a second. you are an 8-year-old boy, i can see -- deirdre: that was a little

gruesome. ashley: it was. there was a lot of blood and guts. stuart: you're laughing. those are pterodactyls. the floor manager is laughing at me. what's wrong with you? ashley: dragons don't really exist, right? deirdre: this was such a big hit in silicon valley. you have people, i'm surprised you weren't invited to -- wait a minute. you should have been to a theme, a "game of thrones" theme wedding. they have them. stuart: no. deirdre: yeah. i know people who had "game of thrones" themed weddings. stuart: you went? deirdre: i did go. stuart: did you go to the dragon? deirdre: no, but i should have. stuart: if you were invited, you have to take a present. what present would you give a "game of thrones" wedding? deirdre: i gave the traditional boring stuff. traditional dragon eggs. stuart: we digress. sometimes it's fun. shall we get serious? 15 years ago today, millions of

people round the world watched as america launched apollo 11. it was a saturn v rocket, blasted off carrying neil armstrong, buzz aldrin and michael collins, took them to the moon. four days later, armstrong and aldrin became the first humans to set foot on the moon. after eight days in space, the crew safely returned to earth. now, that's reality. take a break. we'll be back, promise you. ♪

can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. . . . .

stuart: "game of thrones," all the fantasy and dragons flying

around awe hoe can be taken over by pure juvenile fantasy. that is what is happening. they got 32 i am my nominations. -- emmy nomination. >> i was at journat thatnallist dinner, what is the russian government like? do you watch "game of thrones." i have seen some seasons. that's it. >> before we lose viewers, tell me, deirdre, what is your favorite tv show? >> on tv "big little lies." >> "big little lies" on hbo. nicole kidman. reese witherspoon. stuart: big little eyes? >> lies. stuart: is a movie. >> dramatic series. takes place on the northern coast of california. stuart: which network airs this thing? >> hbo. the same that brought you fabulous "game of thrones." stuart: little big lies? >> "big little lies." >> for heaven's sake.

>> song bob. i love spongebob. chernobyl. that is story on hbo, very well-produced. very interesting what happened to the nuclear disaster, the meltdown at chernobyl. you have to watch it. you will love it. >> what do i watch? >> what do you watch? >> bring a bunch of people to your house to watch chernobyl. stuart: no strangers come into my house. no non-nuclear family are allowed in every house that i live. >> no pizza delivery? stuart: think stay at the door. what is your favorite show, stu? >> i know it. premier league soccer. stuart: yes, yes. premier league soccer, ladies and gentlemen, i know you don't want to hear this, it returns on august 10th, only three weeks away. full schedule, saturday and sunday. >> february. writing down on calendar. [buzzer] stuart: i support the winners. >> tough have a favorite

somewhere? >> my goodness. stuart: manchester united. tottenham hotspurs. we some would say wasted two minutes. i think we entertained our viewers. is that not right, neil cavuto? it is yours now. neil: just knowing that you don't have guests is pretty much all i need to know. stuart: you knew that. you knew that. neil: by the way, which home? which home? stuart: oh. neil: thank you, my friend. we have a lot going home. we're waiting here for the president of the united states. he is meeting with his cabinet amid focus on his tweets that some disparage as racists. if this is buffeting stocks. they have a funny way to show it. blake burman and connell mcshane filling in my absence. did not have the opportunity to talk to peter thiel. new signs that the white house could follow him. what is on thiel's mind here. the readout on that. the cryptocurrency crackdown.