game-changing events in the short term. we will certainly see interest rates will have a big impact on the market. maria: ipos looking good. 2019 ipo markets reached five-year high in proceeds with 50 to 70 more ipos expected according to renaissance capital. have a great day. great panel. thank you for being here. see you soon. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. did beijing just blink? sure looks like at least a partial retreat in hong kong. the extradition bill has been withdrawn. that was the measure which sparked all the unrest. on this issue, the protesters won. china's leader may be hoping to restore calm, but the protesters still have other demands including the resignation of chief executive carrie lam and a free vote to select her replacement. this developed just hours ago. we are waiting for the protesters' response which we will have for you. investors are responding positively. what's happened in hong kong is apparently helping the stock market here. so too is a statement from mr.

bullard, a fed governor, who wants a 50 basis point cut in rates in the next fed meeting which is this month. also helping, treasury yields as of now, not inverted. the dow industrials are going to be up over 200 points, probably erasing all of yesterday's loss. the s&p up just short of 1%. the nasdaq up a full 1%. going up at the opening bell. now to britain. boris johnson lost the vote on britain crashing out of the european union. there may now be a general election and brexit may be delayed until next year. that means a trade deal with america is not coming any time soon. now this. winston churchill's grandson, a conservative, voted against boris. he's been expelled from the conservative party which was the party of his grandfather, winston churchill. the chaos continues. this news just breaking. google has been fined $170 million for illegally collecting information on children, parents

were not aware of that collection of information. separately, a group of state attorneys general will investigate google for antitrust violations. the stock price down 19 yesterday, up just six as of right now. we've got a lot to go at including the latest on hurricane dorian. "varney & company" starts now. stuart: hurricane dorian, getting the first pictures of the devastation in the bahamas. at least seven people killed there and the storm is creeping up the east coast. the obvious question, ash, where is it headed? ashley: it is headed to georgia and south carolina right now. as you can see, it's right around aist. augustine. it's picking up speed a little bit, going from two to three miles an hour to eight miles an

hour. those tropical storm winds extending out and affecting the coastal areas and those slightly inland on the florida side. storm surge probably the biggest problem with this. power could be lost on the georgia coast and into the carolinas over the next couple of days. it could make landfall thursday in south carolina or even more likely, friday in north carolina by which time it will be maybe a hurricane cat 1 or a very weaker cat 2. still, winds gusting up to 75, 80 miles an hour but thankfully, nothing like what we saw hit the bahamas when it was a category 5. stuart: we will show some more of that video. it's just a limited amount coming through but it's devastation. the picture of devastation, clearly. we have more later in the show for sure. back to hong kong. the executive leader carrie lam formally withdrawing the extradition bill. liz peek joins us now. i say beijing blinked. it's a partial blink, if i can put it like that. my question is look, if xi

jinping is trying to restore calm to hong kong, would that give him more leverage in trade talks with america? >> i think it certainly makes trade talks easier because he cannot fight these two battles at once. both are, let's face it, an infringement on his gathering of absolute power which has gone on for several years. this is the first time really he's been challenged and had to capitulate. this is a major loss of face for xi jinping. i think one of the problems with the trade war, one of the things many of us, even supporters of this confrontation with china are sort of worried about is we don't know what the off-ramp is. how do you get a deal with china where there is not loss of face for xi jinping because he really can't acknowledge that. he can't accept that. it's amazing to me that this happened. i think it's very very good news for the people of hong kong. i think in no way does this end the problem in hong kong because the protesters have many other

demands. but to your issue, does this make the trade talks easier, possibly. because i think this was really muddying the waters. stuart: susan just back from hong kong and we promised our viewers a response. what would be the response from the protesters to the extradition beiill being droppe? susan: the face has been joshua wang, the leader of the umbrella movement. he says it's too little, too late and whenever the government appears to be extending an olive branch they always come with a far tighter grip on civil liberties. as we mentioned, there are five demands from the protests, right, and the chant has been we have five demands, not one less are we going to accept all of them. we need all of them. stuart: can the protesters bring back the huge crowds and avoid the violence? because i suspect if there's more violence, xi jinping, the authorities will pick them off. susan: i think the fact they have extended this olive branch

and this concession is the reason why they want to actually fight against this shall we say the population protest support because if you say okay, we will withdraw the bill, now the ball's in your court, are you going to continue to support the violence and chaos that's hurting the city and the economy. >> it undermines the protesters if china makes this big concession and they still are out there rioting and disrupting air travel and everything else. i think that's not going to play well. stuart: we will find out this weekend how big the crowds are and how violent the crowd and protests are. all right. thanks very much indeed. now, a look at stock futures, we are going up 200 points at the opening bell. green arrows across the board. i want to bring in danielle dimartino booth. i bring her in because the fed's james bullard is calling for a 50 basis point rate cut at the next fed meeting this month. is that what's helping to move this market? >> well, i certainly think it's

been a nice bolt of enthusiasm. james bullard had stuck to saying we needed just half of that amount of stimulus. what's going to be even more interesting is the person that the fed reined in last time, he mentioned 50 basis points, that's john williams, a permanent voting member on the committee. he speaks at the half of the hour. we'll see if he reiterates bullard's message. there are six fed speakers total on the docket today so we will literally be drowning in fed-speak by the end of the day but it will be interesting to see if there are others on the committee who come out and corroborate bullard's enthusiasm for more optimistic, deeper rate cuts on september 18th. stuart: straighten me out here. it seems to be a consensus emerging that interest rates from the fed are going to fall sharply and soon. the market's looking for a 100 basis point cut by april of next year. other observers say it will be

75 basis points. the bottom line, i want to know if you agree with this, interest rates from the fed are coming down sharply and soon. >> i would certainly agree with that notion. i think the market is rightly pricing in a rate easing cycle as opposed to just a few band-aids that i think chairman powell was hoping he would be able to get away with. but again, we've got so many people to hear from. boston's fed president came out yesterday and basically conflicted with what bullard had to say, what jay powell needs to get across is consensus in the communications among the other members, and we'll be looking for that in the coming days because we are nowhere close to being fed blackout and it will culminate on friday with powell's comments themselves out of zurich. stuart: former fed guy william dudley is trying to walk back his comments from last week, when he said the fed should not cut rates because it might help president trump's re-election in 2020. in a new interview he says, i'm

just picking out a small quote here, i was not trying to suggest that the fed should take sides in the upcoming election. what do you make of that? >> i think that's the height of hypocri hypocrisy. his opinion piece, there was no gray area in it at all. i can only imagine how embarrassing it was for dudley to have to have those in washington, d.c. walk back his comments and say the former vice-chairman of the federal open market committee, we have to step away from the gravity, the politicalness of his statement. look, there was nothing iffy in what he said. i think it was atrocious for an independent body to have somebody of that stature come out and say we should throw the election. it's not the fed's purview. they should stay out of it. stuart: thanks for joining us on an important day. appreciate it. thank you very much. let's get to some individual stocks which are indeed moving. first off, american eagle, the apparel company, retailer. down 10%.

they gave a not so rosy forecast. when you do that, the stock goes down. better profit, better sales at the craft store michael's. up goes the stock, 18% higher there. vera bradley, i think they make handbags, don't they? i'm not familiar with the company. their profit missed the mark. they are down 8.5%. but we are still going up 200 points at the dow industrials for the opening bell. a nice gain for the nasdaq, up 1% as well. look at walmart. big story here. it's making big changes to its gun policy, among other things. it will stop selling ammunition for hand guns and assault rifles. is this another example of a business taking a stand on politics, and should they take a stand on politics? not hurting the stock. it's up to 115 a share. then there's peloton, fitness people, getting ready to go public. now they are dealing with a social media mess.

there have been some complaints that the $2,000 bikes are broken when they are delivered. ouch. good news for bayer, the maker of roundup. the chemical in the weed killer, not a carcinogen. that's a real challenge to california regulators. "varney & company" just getting started.

stuart: you really should take a look at roku. what a performance for that stock. now it's introducing a smart sound bar and a wireless speaker. you can preorder them. they cost $179.99 each. we are bringing you this story because roku's stock is up nearly 400% this calendar year and it's going to be up another close to 3% this morning when the market opens. what a stock. let's get to brexit. we are trying to keep out of the weeds here. lawmakers voted down, said no to

a no-deal brexit. you're not going to crash out, they're saying. instead, they voted for parliament to take control of the brexit process. ashley, without getting into the weeds -- ashley: it's very difficult with brexit right now. stuart: why should i care? ashley: because if they do crash out, no-deal brexit will have an impact on the markets. when the brexit referendum went through, the market dropped 600 points. what this is all doing, you have a prime minister who wants to get out on the october 31st, come hell or high water, or do or die as boris johnson put it and you have a parliament that doesn't want it to happen. so they have gotten control of parliament, they will later today try and pass a bill which they probably will, taking no-deal off the table. johnson will turn around and say fine, we are going to have a general election but he needs two-thirds of parliament to agree with that. i don't think he has it. stuart: the bottom line for my interest in this is there's not going to be a no-deal brexit. they're not going to crash out. ashley: under the current circumstances, johnson is running out of options on that. it will get delayed until

january of next year. stuart: which is what the markets want. they don't want to crash out. ashley: you saw the pound come back yesterday because of that. because no-deal seems to be going away. stuart: that's good for us, america, but at the same time it means any trade deal with the brits is going to be delayed until next year. ashley: yes. until they get out of the eu. that's going to have to sit on the back burner as everything has with brexit. stuart: six of one, half a dozen of the other. got it. now let's talk walmart. big changes coming to their gun policy. in response to a rash of mass shootings, going to stop selling ammo for hand guns and assault rifles. no more hand gun sales in alaska at all. it's asking its customers not to carry weapons openly in its stores even in open carry jurisdictions. herman cain is with us. herman, is this the new normal? what i'm really asking here, do big companies, should they take a political stand these days? what do you say? >> i believe in walmart's case,

they are not taking a political stand as much as they are taking a public relations stand. allow me to explain. by not selling any bullets long-term, they will never be responsible or be accused of selling ammunition to a shooter. we can't always control the shooters but we do know criminals are going to get guns anyway. what walmart is saying from a p.r. standpoint, you can't buy ammunition here so our bullets won't kill anybody. secondly, politically, it should take a little heat off of them. maybe, maybe not. i happen to think it won't take much heat off of them simply because the gun nuts, the absolute gun control nut, wants to seize all of our weapons. stuart: okay. well, approach this as the chief executive officer. suppose you are running walmart. your decision is surely not a political decision and i don't think it's a p.r. decision. i think it's a decision on whether or not not selling these hand guns and ammunition is good

for the business. if the business improves because of what you're doing, then do it. surely that's your primary consideration. >> that would be my primary consideration. but i don't know what walmart's p & l statement looks like but i believe that simply by not selling ammunition, it's not going to hurt them. secondly, i don't believe that the gun control nuts are going to flock to walmart because of this move. so i believe that walmart would not be in the middle of this ongoing debate and controversy about guns and ammunition and different types of guns. stuart: i think more companies are going to be forced into whether it's a p.r. response or whatever, they are going to be forced to respond to social pressure. i think that's a movement which is gaining steam in america. you with me on this? >> i'm with you on that, stuart. but keep this in mind. i believe many of them are going to do something similar to what

walmart did. however, they are trying to stay out of the middle of the ongoing debate and discussion about what do we need to do about gun control. they won't be in the middle of that debate as long as they are not talking about total confiscation of guns. stuart: they have taken themselves out of it. the stock is up, by the way, close to a record high on that. got it. herman, thanks for joining us, sir. see you again, promise. thank you. >> happy to do it. thank you. stuart: take a look at futures. we will still be up over 200 points for the dow, still going to be up about 1% for the nasdaq. then there's google. they will pay millions of dollars in fines for violating child privacy laws. but that's not their only headache. about two dozen attorneys general getting ready to open a big antitrust investigation into that company. we will bring you that story next. the stock is up this morning.

stuart: all right. this is just coming to us right now. new york federal reserve bank president john williams says he's ready to act as appropriate to support the economy and a return to 2% inflation. he also says the u.s. economy is in a good place. he's focused on low inflation. no impact on the market when

that statement came out literally a few seconds ago. we are still up over 200 points. two items on google. it settled with the ftc for $170 million over violations of children's privacy laws. then separately, there's a new antitrust probe from state attorneys general, a couple dozen of them. let's start with that. susan: this is the largest amount the ftc has ever fined any company when it comes to violating the children's online privacy protection act, and this basically requires that if you are going to track data, extend data and get data from children under the age of 13 on the internet, you basically need parental approval. this complaint alleges that youtube uses cookies which track where you move and go on the internet, they track children on the internet and targeted ads towards them, making millions of dollars in the process. now, this is the largest fine

ever since the law was enacted in 1998. lot of people saying $170 million, drop in the bucket for google. stuart: state attorneys general going after them on antitrust grounds. what antitrust rules have they broken? susan: way too much control especially when it comes to search. 90% of search is controlled by google, not to mention android which powers more than 70% of the world's smartphones and google, youtube, of course, 1.8 billion monthly users so more than half the nation's state attorneys say we should be looking into whether or not they are too big for the good of america. stuart: it's a very distant threat. maybe that's why you have not got an immediate response on the stock price. susan: the doj coordinating with these state inquiries. if they get into the mix, it's a whole different ball game. stuart: sure is. the market opens in five minutes. less than that. four and a half minutes. we are up 212 points for the dow. still up close to one percentage point for the nasdaq. back after this.

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ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro. but shouldn't somebody this is be listening?pression. so. let's talk. we're built for hearing what's important to you, one to one. edward jones. it's time for investing to feel individual. stuart: okay. we open this market in 27 seconds. we are going to go up and that will probably erase most of yesterday's 200 point loss. it's a delicate balancing act here. we've got developments in hong

kong, we've got developments on interest rates at the federal reserve, and by the way, the yield curve is not inverted. i guess all three of those are relatively positive developments. that's why we're going to go up. here we go. three seconds. we're off and running. it's wednesday morning and we are now open for trading. the dow industrials, you can see that was yesterday's loss, and here is today's gain. first 30 seconds, first few seconds of business, we are off indeed, 200 points. sea of green on the left-hand side. almost all the dow 30 are up. same story, pretty much the same with the s&p. that is up three quarters of 1%. the nasdaq, yep, that too is up very close to one percentage point. big gains across the board. the price of gold, i imagine it's down today. it's been up so much recently. yeah, down three bucks right there. $1552 is what you've got. the yield curve is not inverted. i think that's a positive. jeff sica is back with us.

so is mike murphy, susan li and ashley webster all here. murphy, to you first. why is this market up and era erasing yesterday's loss? >> two things. one, hong kong has a lot to do with it. a little uncertainty out of the way. also, we had a big selloff so people are standing back now saying why was the selloff, are there companies out there i want to allocate money to, are there opportunities out there, and you are seeing money come back into the market as it should. stuart: okay. why are we up? >> first of all, it's a head lines-driven market. i think we all know that. i think the headlines today are good. we have gotten a number, i think the extradition ruling is a very positive thing. but what i also see is the markets and the trading, the momentum is reacting to a lot of false flags. there's a lot of false hope and i think that has really got to be considered. ashley: i was waiting for it. >> they said they weren't going to use the trumpet again. stuart: it's a saxophone.

>> but i think we have to be very cautious here. china is not really at the table to negotiate, despite the fact that they said they are, and if this thing falls apart, we are going to have another leg down and those people are so anxious to buy, should wait for that. stuart: you are sighing here. you get another headline which is negative on china trade and the market will go down. ashley: of course. stuart: that's the way it is. ashley: the algorithms kick in. stuart: i don't know how you trade a market like this. >> you don't trade it. stuart: most of our viewers do not trade, but what are we supposed to do, sit back and watch things go up and down and do nothing? >> i would take the opposite side of it. someone like you who has talked publicly about owning microsoft for a long time, if microsoft goes down big because of a headline, then you would allocate money to microsoft if you still believe in it. it creates opportunity. stuart: putting me on the spot here. would i buy more microsoft if

the thing plunged on a headline? >> absolutely. stuart: answer, yes, i would. >> you have to have a bigger selloff than a couple points. stuart: it's $137 a share as of now. $136.98. i'll take that. ashley: would you jump back in? stuart: if it went back down to $100 i would buy it. susan, what's your problem? susan: we know the federal reserve, there's 100% probability that everyone has priced in a 100 basis point cut in interest rates into april of next year. you have quantitative easing coming from the ecb, there's a lot of free money floating around once again. why not asset values, why shouldn't they go up? stuart: fair enough. with our treasury bonds paying some interest -- susan: some. stuart: money is pouring into america. you don't get any interest in europe and japan and some of that money that pours in will go to american stocks. susan: that's right. stuart: not just bonds. ashley: it's great for the market. i don't know whether for the overall economy, it has any impact. stuart: i'm not selling. is that quite clear?

got it. brexit raising its ugly head. big setback for boris. his plans for a hard brexit on october 31st doesn't look like it's going to happen. ashley: i don't think so. stuart: question for us really is, if there's a delay in brexit until next year, then there's a delay in a trade deal with the united states. ashley: there can't be any trade deal while the uk is still in the eu and it's going to drag on and on. put that on the back burner and just watch the chaos and the nightmare that is brexit. stuart: it has cultural and political significance to you and i and americans in general, but it has no impact on our money at this point. zero. >> you are absolutely correct. it's good headlines and good theater, but other than that, as an investor you are not making moves based on where brexit is or isn't. stuart: i don't know whether you are concerned or not, but winston churchill's grandson has just been expel led for voting against boris johnson. you don't care? >> well, you know, one thing

boris has shown the world is how completely confused he is about this, because every single day, he throws out another initiative that makes this more cloudy. it's showcasing the dysfunction of the eu and if anyone should really look at what this is an example of, it's why the eu was a bad idea from the beginning. stuart: absolutely. we will take that one. we certainly will. breaking news. here we go. michigan just became the first state to ban flavored e-cigarettes. tell me more. susan: a six-month ban announced by the governor of michigan that they say the health department has deemed vaping, youth vaping as a health crisis. this as 116 cases linked to vaping. stuart: just the flavored stuff? that's all? susan: the cartridges you get.

check on altria and the rest. altria owns a stake in juul, probably the biggest name when it comes to vaping. what this means for regulation in the future, especially as this is still a private company, will they ever be able to make it to market. stuart: they have to keep these things out of the hands of teenagers, people under the age of 18 or 21, whichever it is. and they have to stop people putting in their own stuff into the cartridges which can be damaging. i don't know how you do all of that. i don't know how you do it. but you don't ban vaping completely because you can't. i just can't see that happening. >> i don't know if you can or can't. i think the investing story is this is one of the hottest high-flying venture capital backed companies out there, juul. they have raised $14 billion in the private markets and now all of a sudden, we talk about google and apple facing off against the government. now you have juul, the government has them dead in their sights. it will be interesting to see how this plays out. stuart: you are a venture capitalist. got any money in juul? >> no. stuart: you did not touch that? >> didn't. but again, if i did, it's had a

huge move to the upside. it's just now how does it play out. it's a great company for you trying to get off cigarettes. it's a terrible company for me if my teenaged children are using the product. stuart: well said. let's get to walmart. they are going to end the sales of some guns and ammunition. this follows the two deadly shootings at its stores, one in texas, one in mississippi. do you think, mike murphy, do you think a ceo of walmart like this should be involved in what might be considered a political decision? >> i think he should be involved in this decision. it will be considered political decision but i don't think it should be. i think really, what we are looking at is are they selling the weapons that are being used in the mass shootings. if the answer is yes, if i'm the sto ceo, i want to stop that. i'm not saying go against the second amendment. i'm saying stop the selling of assault weapons. stuart: as a ceo, if i was a ceo, i would do it if -- i would do whatever i thought was in the best interests of the company

and its profits and sales. look at that, the stock is at $115. >> also, you know, they are doing this in certain locations so they are not doing it nationwide which leads me to believe that they are looking at how many second amendment supporters they have in those jurisdictions and making decisions based on that. so i think that in and of itself, i think he's treading on very dangerous water right here because walmart is -- has been known as being very immune from government intervention. now they seem to be getting into the political arena. susan: we know walmart said last month it sells around maybe 2% of firearms, 20% of the ammunition sold by u.s. retailers. so why not give up just a small portion of your revenue when you can get so much more when it comes to reputational risk? stuart: it takes them out of the debate, doesn't it? ashley: which is where you want to be. stuart: takes them out of the p.r. problem of selling guns and

ammunition. >> the flipside, the positive p.r. from it would be that hopefully they are not part of the problem of these mass shootings. anyone out there, regardless of what side you're on, you want to limit mass shootings. stuart: we are nine minutes into the session and up about 190, almost 200 points for the dow jones average. look at toyota. it just reported a 12% sales gain in august, compared to the same month a year ago. this was on strong hybrid sales. it was toyota's best august ever. the stock's up ten cents at $131. american eagle, not so rosy forecast, down it goes nearly 13%. better profit, better sales at michael's, the craft store. up 21%. how about bitcoin? where are we? we're at $10,414 a coin. oil, where are we? way down yesterday, up again today, $55 a barrel. look at this. the average price for a gallon of regular gasoline nationwide is $2.57. hovering right there.

i think it's coming down soon. i sure hope. here's a related item. electric car sales down for the first time ever. that's true in the united states and true globally. whoa. that's a problem. cities invest billions of dollars in going electric but can't compete with gas. >> it's tough to compete but really, this is a situation where the market got ahead of itself a little bit. they planned for everyone having an electric car by next week. it isn't really going to come to fruition. i think a lot of early adapters have moved in and people like yourself and myself aren't going out and buying electric cars tomorrow. this is a longer term story. stuart: bernie sanders would give a nice big subsidy for us to go out and buy. oh, it's 9:40. know what that means? jeff, you were all right today. murphy, you were terrific. gentlemen, thank you very much indeed. check that big board again. holding very stable, 198 points

up. that's where we are. hurricane dorian decimating the bahamas. that is not an overstatement. later this morning we will talk to the country's top tourism people. i want to know how bad it really is. look at that. looks awful, doesn't it? is the tourist industry wiped out for the foreseeable future? we will find out. another new poll shows joe biden firmly in the lead over his democrat rivals, despite all of his gaffes. we've got those numbers for you. elizabeth warren calling for the trump tax cut to be repealed to pay for her new clean energy plan. that plan would cost $3 trillion over ten years. we will deal with it.

stuart: i'm going to call this stability because we're still up exactly 200 points and we're 13 minutes into the trading session. there's only one stock that's going down and that is pfizer. that's the only loser amongst the dow 30. how about this one. some peloton users are having a problem with the company that delivers its bikes. susan: well, if you are paying $2,000 for a bike, you are paying $4500 for a treadmill, you are hoping it comes actually working. the delivery company that assembles, delivers the bikes, the treadmills, there's a whole lost facebook and reddit complains from peloton customers who say their bikes arrive damaged and it scratches their floor and this is a big deal because as you know, peloton has filed for an ipo -- stuart: scratches their floor? put a carpet under it. susan: they are looking to go to market and even in their s-1 filing they say if we do not help our members quickly to

resolve issues and provide effective ongoing support, our reputation may suffer and the stock may suffer and it might not do well in their ipo if that's the case. stuart: if i were to dismiss this as a tempest in a social network teapot, what would you say? susan: i would say i would want my money's worth if i'm paying $4500 for a treadmill and i would be really upset because you are paying $250 for the xpo logistics company to assemble and deliver it properly. stuart: but what we don't know is how many have really been damaged. susan: according to the company, 90% are satisfied. stuart: there you go. that's not great. it's got to be 100%. susan: the fact they put it out in the s-1 filing is a big deal. stuart: i'm not buying one. he lelizabeth warren saying shel pay for her green energy plan in part by reversing the trump tax cuts which she says largely benefit businesses and the wealthy. we need this guy right now. the author of "upside the upside

of inequality, how good intentions undermine the middle class." i love that title. the author joins us now. okay. let's suppose we reverse the trump tax cuts as ms. warren wants, what would happen? >> i think if you look at the congressional budget office it says the tax cuts cover their costs of financing so think about if i go out and borrow money and buy a factory and that factory produces more income than the cost of the money i borrowed, aren't future generations better off as a result of that? i think why is it, because we invest more, we grow faster, we get more innovation as a result of lower corporate tax. stuart: so you reverse the tax cuts, what happens to your economy? >> well, the problem here for her is it's not just the tax cuts she's talking about, that's a small fraction of -- she always says that will partially cover the cost of this or that. when you start adding up everything she's proposing, she's talking about $3 trillion for climate change, $2 trillion for universal health care, a

trillion dollars for free college, a trillion dollars for other things. that doesn't include medicare for all which you could run into the tens of trillions of dollars. stuart: wouldn't that reverse or narrow income inequality and isn't that -- wouldn't that be a good thing? >> we know this. europe has imposed a fraction of those ideas on their economy and their middle class enjoys 30% less consumption than our middle class does. stuart: whoa, whoa, whoa. i didn't know that. you're telling me a middle class german family does what, 30% poorer than ours? >> yes. yes. northern european, it's about 30% poorer, if you look at a per-hour basis for a comparable skills person, they earn about 20% less and their companies are not able to provide them with anywhere near as much employment as u.s. companies are able to employ our employees, so they get about 20% less than ours. if you look at a comparable skill level, they earn about 40%

less but northern europeans tend to be more skilled than americans so they end up earning about 30% less because they get somewhat of a premium for their higher skills. stuart: they make less, earn less, lower standard of living. >> don't forget, they are freeloading off of or innovation. we are producing six times as much innovation as they are. they are freeloading off of our defense spending, freeloading off our medical spending. without america, if we destroy america, turn it into europe, they would be substantially poorer, we would be substantially poorer than just the 30% we see today in the transition from here to there would be catastrophic. stuart: wouldn't it be beneficial if we just reduced the income inequality a little bit? >> what we care about is maximizing the prosperity of our middle and working class. stuart: yes. >> right? that's the thing we really care about. stuart: yes. >> what we see is people that try to narrow inequality de-motivate their most talented

people, de-motivate the entrepreneurs who are taking the risks and produce innovation, the growth of the economy, and their middle and working class end up with less money. i don't think we care about inequality. what we care about is trying to make the middle class as prosperous as we can possibly get them. america is substantially more prosperous than the second most prosperous place in the world, which is northern europe. stuart: we should have you on the program more often. that was pretty good. thank you, ed. here it comes. new tweet from the president. quoting businessman sam zell, here's the quote. the chinese are very adept at not accepting anything, you've got to be very tough and that's what trump is doing. it's in china's interest to correct and i think we'll end up with a solution that's dramatically better than we have today. frankly, i think the impact of what trump is doing to china is not lost on the rest of the world. europe has had among the most

protectionist policies forever. they are sitting there and saying gee, are we next? maybe you are. we've got to change the rules. the u.s. can't defend the world and pay for it. we can't have a system where we run our entire economy for the benefit of other countries which have long charged us big tariffs. don't keep ducking the reality. the u.s. has been subject to tariff terrorism for 50 years but a real deal can be done. sam zell. ashley: that was pretty long. stuart: pretty strong defense by the president, quoting sam zell of his trade and tariff policies. check the dow industrials. we were up 200, now we are pea up 170. we'll take it. the dow up .66%. we'll be right back. liberty mutual customizes your car insurance,

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stuart: all right. walmart is opening its first health clinic in georgia, offering everything from shots, x-rays, dental, eye care, you got it, you name it. they're going to provide it. marc siegel is with us, as in dr. marc siegel. that's a revolution. >> i forgot to mention 16-minute counseling sessions. you go to walmart and you are going to be able to get psychotherapy now. stuart: really? >> absolutely. labs, x-rays, immunizations,

medications. there are nurses there, doctors there. they are opening up in texas and georgia and south carolina. stuart: that's a big deal, because people don't like going specifically to the doctor. you've got to make an appointment and all the rest of it. you can go park at walmart really easily. this is a real revolution, isn't it? >> yes. and it's also to compete with cvs/aetna, who will be opening 1500 of these locations around the country, and walgreens as well with humana and united health care. all of these big pharmacy chains are getting into the standalone health care model. stuart: they accept insurance at walmart? >> yes. almost all of them. of course, cvs has aetna. walgreens is doing it with humana and united health care but yes, walmarts are accepting major insurance. you know i have a problem with this. stuart: of course. you are a doctor with an office. come on. >> i don't have a problem with trying to access people who wouldn't otherwise be accessed. someone could say wait a minute, there's a lot of problems with mental health around the united states, people aren't getting the care they need, the

immunizations or x-rays they need. fine, get them at walmart but what happens to the results? where's the followup? i don't want walmart or cvs or walgreens being -- doing all the followup. i'm worried about someone coming in for one-stop shopping and not having a followup. stuart: that's what they'll do. that's what the attraction is. you come in for one-stop shopping. you have an infection, you think you need antibiotics. you know walmart will give them to you real fast and away you go. that's what you're worried about. >> that's what i'm worried about. stuart: competition is what you're worried about. >> well, not competition. lack of followup. if i could be sure that a patient of mine would go into an urgent care or walmart, say, and get psychotherapy, then come to me for followup and i would send them to a proper therapist that i know, or somebody gets an x-ray, i don't want the x-ray sitting on the walmart. i have to understand it's integrated with the regular primary care doctor. we still have a role. we are still the quarterback of the system. stuart: you are. that is true.

but your role is lessening. >> i don't like it. stuart: thank you very much. quickly here's what we have. time for a commercial break? yes, it is. more trouble for colleges and college admissions. tell you all about it in a minute.

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stuart: it is 10:00 exactly here in new york. let's have a look at the big board. here is how the markets are going. green arrows all around this morning. i will point out two factors looks like they're helping the market. first of all good news out of hong kong. the controversial extradition bill is withdrawn. i call that as minor retreat for the chinese authorities. then we have positive comments on interest rates from the fed. for example, st. louis fed president james bullard, he is calling for a 50 basis point cut at the next meeting this month. new york fed president john williams says, the fed will act as appropriate to support

economic growth. so what you have got now is a market that is going up, almost erasing yesterday's losses. 9 dow up 170. nasdaq up nearly 1%. now this. some wealthy people do indeed ice their money to make it easier for their children to get into elite colleges. we've known this since the college admissions scandal broke, now we know some of the details. it is not pretty. buying your way in was an established practice. in the clear light of day, it looks real bad. at the university of southern california there was a clear relationship between the amount of money a parent had and the likelihood of their youngster being accepted to the college. court papers revealed spreadsheets, color coded to track special interest applicants. for example, vip students were tagged by how much the parent might donate. one said, father is a surgeon.

previously donated 25,000. another said, the parent had given two million already. another one million dollar pledge. youngsters often got in through the backdoor of athletics, even though the potential student was less than proficient in the sport they got in for. good enough to shag balls for the tennis team said one email a walk-on water polo player was high level prospect with 1 1/2 million dollar potential. academic credentials or lack of them were not a problem. one students whose test scores were, quote, well below the standard, came from a family that helped build a foundation for many usc projects. for very long time, academia covered it up. i'm not surprised. we turned a blind eye to preferential treatment perhaps because we wanted to keep the option open for ourselves. what a mess. some youngsters who got in are tarred with the scandal brush. the youngsters who didn't get in

feel cheated. poorer people feel it is grossly unfair. the academic reputations of colleges involved do take a big hit. there is no easy solution here but the sunlight now illuminating the scandal is surely the best disinfectant. second hour of "varney" just getting started. ♪ there is one person who we really should get in to talk about the editorial i released. his name is charlie kirk. been on the program years. next president of the united states coming in 2040s. he runs turning point usa. don't be embarrassed because i know what i'm talking about. what do you think of my editorial? >> this is no different. >> modern day equivalent ever selling indulgences we saw over 500 years ago. for those that don't know,

selling of indulgence said catholic church said you have to give more money to try to get to heaven. the equivalent, you have to give more money to get to the promised land of economic elites. you people are hypnotized by institution selling you something, if you give enough money you get that rite of passage. a entire culture has a premium on elite institutions, such a premium, parents are willing to do anything to get their children in there. it takes two to tango. not just the parents involved in the corruption, but colleges making footnotes. gave a million, 2 1/2 million. we knew this existed for decades. we turned a blind eye about it. stuart: what are you going to do about it? can you make possibly college admissions strictly on basis of academic ability? >> that will never happen. if we think we'll get to a form of equalibrium on sort of application status i think that is a fool's errand.

this needs to have a broader cultural reflection why are parents willing to break the law so their kids can go to an elite university? is it really that important? i will said this before. i think it is more about the parents not wanting to go to the cocktail parties to say their kids are not going to elite universities. it is about parents ego. mom and dad, did you really do this? did you you really give millions of dollars surreptitiously through a guy in massachusetts to get me on a water polo team? i don't blame students as much as i blame the parents that engaged in illegal activity. stuart: do you think we worship wealth? >> i think we worship status more than that. stuart: wealth gives you status. >> a country should appreciate earned success. that is the eagan those of america you can learn level of success. this is not success this is insider deals. same sort of cultural problem

that got donald trump elected. k street, lobbying culture inside of washington d.c. stuart: lots of people in america have money, some serious money. most have a great deal of money. there is a temptation when your child is applying to university, well, we don't need a scholarship, we don't need financial help. could you use five grand for the gym? is that corrupt? >> i think it is definitely, it makes an unequal playing field for student that doesn't have that kind of advantage, built-in advantage. is it -- i think morally, morally questionable at best. when you go to the extent of falsifying applications to say that you're playing a sport that you don't, then that breaks the law. i think this, college should be a place where those that want to improve themselves can go to be more prepared for a career, not a credentialing exercise for students to be able to say, i

have this piece of paper from a elite university, therefore i'm more, imbetter person or more qualified. in reality we're finding it is the exact opposite. college does not correctly prepare students for careers. instead after place for credentialing. stuart: i could talk about this all day long. >> i love your open. it was terrific. thanks for having me. stuart: charlie, good man. thank you. get to your money, in the news always on this program. jim awad with us, clear state advisor senior managing director. point this out, jim, you've been coming on this program for many years, five, six, seven years, actually. >> yeah. stuart: i never heard you tell our viewers time to sell. you never have. >> right. stuart: what would make you say to our viewers you know, here's the time, sell? >> right, i don't think it is going to happen but here's the scenario. the trade war goes on for longer. tariffs start to affect business

uncertainty. companies stop hiring, cease capital spending. credit markets sense recession. they deny low quality companies access to easy credit. what i mean the spread between low investment, non-investment grade credit and investment grade credit widens so that lower quality companies lose access to capital and can't fund themselves, then you start bankruptcies. that is the nightmare scenario. i don't think it is going to happen. one thing that could create bear market, a recession, lack of liquidity in the system to less than investment cradle companies. stuart: that sounds a lot like 2007, early 2018. liquidity came out. nobody was prepared to lend each other money, the system froze up. >> right. stuart: you're not saying it will get as bad as that? >> no, not at all. stuart: you seem to be saying the first serious sign of recession will be the sell signal? >> that is the first serious sign of recession. consensus in the markets the economy will continue to grow at

2% kind of rate. corporate profits after being flattish will be up a few% next year. that with interest rates low, coming down, that will boost valuations which should create a modest increase in stock prices over the next 12 months. i agree with that. but then you asked, what would make that wrong? i would say, if the credit markets smell recession, almost create a recession. the biggest cause of that, would be continuation of the trade war that starts, starts to materially affect business activity which then spills into consumer activity. again i don't think it is going to happen, but that's what you have to watch out for. stuart: we shall indeed, jim awad, appreciate it. >> pleasure. stuart: let's get to hong kong. the chief executive of hong kong, carrie lam, says she will withdraw from controversial extradition bill? does this appease the protesters, susan? susan: i think it does.

it was a stunning withdrawal. what a positive surprise, hang seng went up 4% on back of this. hong kong government, by extension, beijing and hong kong protesters seem entrenched on the opposite sides. they weren't giving middle ground either way. the fact we have carrie lam, hong kong chief executive, televised address in the city tonight say i will formally withdraw this highly unpopular controversial extradition bill which would have send hong kong citizens and expat to china for trial. she says i will formally withdraw it. don't over play your hand. that is the comment to the protesters. stuart: appeal to peaceful demonstrators we got you covered but trying to isolate those who might be violent. susan: she says some people, not many attacked government office in hong kong and vandalized the

national flag and emblem. the second part of the quote, that is most important part, threatening possible beijing intervention. she says vandalism, violence is direct challenge to one country, two systems, both put hong kong in highly vulnerable and dangerous situation. so don't overplay your hand. we'll give a succession to your top demand. that is what the protesters have been asking for. stuart: that is real clarity. she appeared on television to say that. that is clarity. thanks, susan so much. next case, hurricane dorian wreaked real havoc in the bahamas. the cleanup, hundreds of millions of dollars for sure. in our next hour we talk to a top bahamian official. i want to know how bad is the devastation on the ground which is the to the tourism industry which is the industry in bahamas. bernie sanders reacting to the joe biden saying he only wants

to become president to get trump out of office. bernie says that is not enough. you will hear what he had to say. california plans to ban roundup as a carcinogen. what does that mean to all the lawsuits? we'll talk about that next. ♪ ♪♪ ♪♪ ♪♪

stuart: the gain was 200 points. now it's 130 points. we are still up half a percentage point. the market is rallying across the board. it is not quite as strong as it was. next one, the epa taking a shot at california's plan to label roundup weed killer a carcinogen. the epa says it will not approve product labels that say the active ingredient in roundup causes cancer. will not approve them. judge napolitano is back.

"fox nation"'s "the liberty file" host. he is on the program right now. what does this ruling from the epa, the statement from the epa, what does it mean for all the roundup lawsuits? >> there are lawsuits actually in litigation. they're in the pretrial phase where experts are being exchanged, strategies are being discussed with the court but when the epa undermines california's argument, it will require california to prove with scientific evidence that the chemical in roundup that it says is a carcinogen which the epa says it is not a carcinogen, the california will have to prove its case. stuart: good. >> prior to this california would not have to approve it. it was a given it's a carcinogen. when california wants to have a standard higher than the epa which it can do, it has to prove scientifically there is basis for that standard, right now they can't prove it. stuart: i find that terrific news. terrific news. they never established a causal

relationship between the weed killer and cancer. >> here is what the epa did. the epa surveyed all the scientific literature, even the scientific literature in support of california's argument and used neutral scientists experts in the field to come to a conclusion. they overwhelmingly included the chemical, name is escaping me, is not a known cars sin again. stuart: right. >> therefore the epa will not approve labels which identify it as a carcinogen. that doesn't undermine california's case but, cases, but makes the cases more difficult. stuart: glyphosate by the way. >> there you go. stuart: that was justin, another producer in my ear. i don't know about your ear. now this, this is something i find extraordinary. a judge has ruled that opioid lawsuits can proceed against pharmacies, even though the pharmacist, all they did was,

they're being held liable for just filling a prescription written by a doctor. this ain't right. >> when you have, what is called the learned intermediary a physician, learned and licensed between the end user and the manufacturer, or the end user and the pharmacist, that thought process of the learned intermediary immunizes the pharmacist. the pharmacist is just filling a prescription. the pharmacist doesn't make it. the pharmacist doesn't decide how much you should take. the pharmacist is not pushing it on you. the pharmacist is complying what a physician ordered. it is almost inconceivable that can be the basis for liability. stuart: right. >> unless, you're one of these states or the state of ohio, one of these counties that is looking for a windfall. so to make this even more complex, this case we're talking about, a federal case in ohio, the plaintiffs are three ohio counties. the state of ohio objects to this case because they want the

money. they want the windfall. they don't want it to go to the counties. stuart, what happens to this money that these governments get when they settle these opioid cases. that is they build buildings. doesn't go to the human beings, who are actually harmed by being addicted to and reeye ant on opioids. stuart: bringing back outrage, i am outraged. there is a lot to be outraged about? have you spoken to boris johnson lately? >> i'm with him by the way. judge, thank you, sir. >> yes, sir. stuart: after he devastating the bahamas, hurricane dorian is heading our way. we'll tell you where it might make landfall in a moment. president trump slapping more tariffs on chinese goods this past weekend. how do average people feel about the trade war, for or against it. we have a guy with the research coming up soon.

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see walmart succumb to the pressure of anti-gun elites. lines at walmarts will be replaced by lines at other retailers more supportive of america's fundamental freedoms. the truth is the actions will not make it any safer, instead of placing the blame on criminals, walmart is penalizing the law-abiding americans. it is tightening gun policies further than other retailers. tough get ahead of this, especially with what happened in odessa, el paso as well. don't forget ammunitions sales don't make up a big bulk of their revenue. from what i understand, walmart said they sold 2% of the firearms and 20% of ammunition compared to other u.s. retailers. that is not a lot. stuart: walmart is trying to take itself out of the gun debate. with two tragedies in its own stores. they want out of it.

susan: they will continue to sell handguns and arrives as well. stuart: they will. stock is at $115 a share. that is close to the all-time high. get to the hurricane, dorian, devastated the bahamas, seven dead there. it is headed up the east coast here. where it is it expected to hit the hardest? ashley: churning towards the georgia coastline, especially south and north carolina. those coastal areas, could indeed, could make landfall tomorrow in south carolina. we have a hurricane warning from savannah in georgia, up to wilmington in north carolina. anywhere along there, storm surge up to five to eight feet in some areas. very heavy rains, winds possibly 80 to 100 mile-an-hour wind gusts. this will continue, where are we wednesday? won't be late friday before it kicks out in the atlantic ocean. this storm won't go away,

significant beach erosion, flooding, that storm surge is so, so dangerous. obviously the warnings are out. this thing isn't over yet. stuart: okay. news from hong kong, i will give it to you. i believe this helped the stock market here. that controversial extradition bill has officially been withdrawn. i want to know, does that give china leverage in the trade talks with us? i'll certainly trying to find that out at this point. the pentagon okaying a plan to divert 3 1/2 billion dollars worth of military funds to build the border wall. senator schumer called that a slap in the face for the armed forces. the full story coming up for you ♪

♪ stuart: absolute favorite. what a song. here comes the sun. it's all right. ashley: doesn't happen very often. stuart: if we had more time i would play it all the way through for you. still on britain. the prime minister over there, boris, as he after faction atly known he wants britain out of the european union by october 31st. without getting into the weeds, what relevance does it have to my money on our economy? ashley: become a issue purely for the uk and e.u. the bigger picture if they leave without a deal in place it is chaotic. it will hurt the markets. it is not great news for the u.k. there are those that say the uk can get out no problem even if there is no deal. boris is trying to keep that deal. the parliament is taking away

from him. the trade deal with the u.s. is pushed down the road because the uk might still be trapped in the eu this is playing out. not having a big impact on your money here. but beyond embarrassing for the brits who voted for this three years ago. they can't figure out how to do it. stuart: better leave it at that people are totally lost about exactly what is going on, what is likely to happen. >> people in the middle are totally lost. stuart: frustrated to boot. they are. big board shows a gain of 166 points. roughly 2/3 of 1%. lawyers from you huawei are back in court in brooklyn. kristina partsinevelos is there. kristina i'm totally losing track what is going on with this. straighten me out, please. reporter: i promise to straighten you out. we have to talk about why i'm here today. the second most important person in the justice department, former deputy attorney general

during the obama administration, and now he is the main lawyer defending huawei against the united states. his name is james cole. the u.s. is trying to disqualify him as a lawyer saying that mr. cole during his tenure within the obama administration had access to classified information, confidential information and possible information pertaining to huawei. so they're trying to disqualify him. you had mr. cole, he will give his arguments today, saying he has no recollection of that time during the administration, anything pertaining to huawei. this is back and forth. stu, you brought up the dialogue. huawei seems to be at a epitomizes the conflicting relationship between the united states and china. you have huawei, that argues they are not a national security threat. the united states saying yes, huawei is a national security threat. yes, huawei did defraud its banks. yes, huawei did try to steal its trade secrets. huawei saying that is the not case at all.

they sued back to the united states. they have also, most recently, just within the past week or so, huawei did say that the united states has been hacking its company, trying to threaten its employees. so the dynamic back and forth continues. a lot of cases before me right now. we'll specifically talk about the lawyer, the american representing huawei. back to you. stuart: i think i got it kristina. i think i've been straightened out. you're talking about, what i'm thinking. kristina partsinevelos, thank you very much indeed. >> okay. stuart: google will pay $170 million to settle allegations that youtube illegally collected children's personal information without the parents consent. details, please? susan: $170 million in total. that is the largest ftc fine, if you include 136 million going directly to the ftc, ever fined for any company for breaking this law, children's online privacy protection act.

alleged that google's youtube, were basically selling ads to children, tracking their whereabouts on internet without parental consent. you need parental consent for children under the age of 13. the complaint alleges that youtube used cookies to target children on internet and used ads to make hundreds of millions of dollars in the process. stuart: 170 million-dollar fine. susan: which is a drop in the buck the can for that company. stuart: it points out the problem. google is facing antitrust probe from two dozen state attorneys general. are they going at them on antitrust grounds? susan: l h they're alleging google has too much power over the internet. 90% of the search goes through google and android, 90% of the world's smartphones use and youtube has 8 billion monthly active users. 30 state attorney generals are

looking to collude together to say this is antitrust. the important part you have to get the doj and feds involved which has more, they have more oversight capability than actual state attorneys but, think of what this means for a company like google going back to the 1990s, what happened to microsoft during that time, right? they need the doj on board before you can get actual teeth in antitrust grounds. stuart: that is the point, if ever, the department of justice jumped on board, opened a formal antitrust investigation of google, the stock would take a hit. i believe that is the way it is. in the meantime, it is state attorneys general, fine here, fine there, no the stock stays -- susan: the doj says, there are reports that the doj is considering it. stuart: that would be a very serious development. you're right to point it out. back to trade and trade disputes with china, robert moran is back with us. he is the guy with the research. well-done, robert. i want to know what does the average person in america think

about the trade war, for or against it? what are they saying? >> so 62% of americans believe that china is an unfair trader and the president's rhetoric has dropped favorable opinion towards china by 12% over the past year. now the question then goes to tariffs. so they think china is an unfair trader but are they willing to go for tariffs? that starts to get trickier. the best data i have seen suggest 35% of the americans believe that tariffs will hurt them and 19% believe that they will help them. the political calculus here is, that the folks who think that the trade, that the tariffs are going to hurt are largely democratic voters and the president's base supports the tariff actions. so like most things in american politics, at the moment it is heavily polarized. when you look at states the

president would need to swing especially in the midwest, a lot of blue-collar voters actually back tariff actions. so it's a complicated thing. right now we have had almost pain-free sort of trade war so far and whether those prices really start to hit and people start to really feel them, that could then change public opinion and political calculus. stuart: i think it is an electoral college calculation, isn't it, if you're looking at the key states, you turn the electoral college to the president. very interesting. another one for you, hong kong's leader, carrie lam withdrawing the extradition bill which sparked all the protests in the first place. does that withdrawal of the extradition bill, does that think, robert, give china more leverage in the trade deal when dealing with america? >> i think it does. i think if you look at the timing of the negotiations, you will see that the administration looking at hong kong and also

looking at a decelerating chinese economy, kept squeezing. this might give china more running room. i think big picture, it is probably good in a macroeconomic level just because, hong kong's economy is actually quite large. it is the size of denmark or ireland. it has a very large port, very large airport, and the world's largest air cargo facility. it is the fifth largest exchange. so bringing that territory back online economically is probably good from a macroeconomic level. probably more of a challenge in a way for the administration. stuart: fascinating. robert, thanks very much for joining us as always. i'm sure we'll see you and your research again very soon. thank you, sir of the appreciate it. let's get to domestic politics if i can call it that. joe biden is running as the anti-trump candidate or one of them. he says his main objective is to

get president trump out of office. bernie sanders says that is not enough. you will hear what bernie has to say in a moment. some good news out of the hurricane zone. a woman in the bahamas rescued and sheltered nearly 100 dogs inside of her home during the storm. we'll speak to her in our next hour. more "varney" after this. ♪

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stuart: the rally holds. we've been pretty consistent all morning, up between 140 and 200 points right now. we are up nearly 160. there you have it. the pentagon approving a plan to divert $3.6 billion to fund the border wall. democrats are not happy. here is the tweet from senator schumer. it's a slap in the face to the member of armed forces who serve

our country that donald trump is willing to cannibalize already allocated military funding to boost his own ego and for a wall he problem missed mexico would pay to build. rachel campos duffy with us, fox news contributor, frequent guest on the program. what do you make of mr., senator schumer's response there. >> what is a slap in the face is the military weakening that chuck schumer and obama oversaw during those eight years. so now they're pretending like they really care about the military. by the way in his tweet he talked about where the, he is so concerned about money going to a military school in new york state, i believe versus the wall that was part of the reallocation. guarranty if you poll the american people they care more about that military money going to protect our borders, national security, keep out drugs, keep out human traffickers all the bad things they're doing to children along the border. that is what people care about. stuart: the democrats have vowed, you're not going to build that wall. >> now they're acting like they

like military hawks. stuart: military hawks. >> the other thing the wall is compassionate. i'm so sick of aoc and chuck schumer and nancy pelosi trying to claim this man tell of compassion when we know the children that, human traffickers are coming -- they actually like these policies that the democrats have which essentially open borders. if you were a human trafficker, if you were a drug lord, would you actually think these people are doing your bidding. they're working for you, not the american people. stuart: do you believe that a wall solves the problem? >> i think it is part of the problem. obviously it is very dynamic. i'm from arizona, a border state. i understand we need electronic, we need all kinds of stuff but it is definitely a part of it. i have interviewed way too many border patrol people on "fox & friends" on other shows who have said it absolutely makes a difference. it helps deter, slow things down. helps us get to places and slow

down the flow of traffic from the other side. stuart: do you think the president will have his wall by 2020? i don't think he will? >> i don't think he will but it is really sad to see them working, the democrats working against something if you poll the american people, immigration has gone way up in their list of, illegal immigration has gone way up in the list of concerns. stuart: you yourself are hispanic i believe? >> yes i am hispanic. my father is mexican-american. my mother was immigrant from spain. so i -- i'm from a border state. but it is people on the border who often suffer. i have a friend -- stuart: democrats are taking this line because they want the hispanic vote. telling me they're not spoke to get it? >> listen hispanics are 50% approval for donald trump. donald trump is beginning to win over hispanics. stuart: really? >> because hispanics are entrepreneurial. nobody starts businesses, hispanics start businesses three times the rate of average american. they're very entrepreneurial. they want the american dream. they like what he is doing with

the economy. they like that he is small business-friendly. they want to pass their wealth on to their kids, that business does well. donald trump is actually winning over his hispanics slowly but surely over than any other candidate. the big mistake he is not going to communities directly himself to tell his story. i said this many times on television, hoping that he would be watching because i know he likes this channel, what he needs to do is tell his story himself. the republicans have never had a better story to tell about capitalism, about entrepeneurship, small business-friendly policies, about an economy better than ever. by the way, this position that he is taking on venezuela, he now wants to allow many of the venezuelans who came over to stay. very popular position. the cubans-americans love it. venezuelans now in florida which is important state electorally love it. this is good moment for him to

tell his own story. stop letting spanish media and mainstream media tell that story to hispanics. stuart: i have here your new book. >> this book is practically about you, even though it is about a hispanic family. this is the story of a little girl whose father became a u.s. citizen like you did. he wants to celebrate his new american citizenship by taking his family to d.c. she has this little adventure. she learns about lady freedom, which is the statue on the very top of our magnificent capitol dome. it's a beautiful story. take your kid to the bookstores, grandparents, parents, there is overemphasis, obsession with diversity which is a wonderful thing but we're not telling our kids stories about what unites us as american. stuart: not talking about being american. >> this conflation of legal and illegal immigration i think is really devaluing the process that people like you go through that really brings about a love

and appreciation, patriotism. that is what this book is about. stuart: i'm an american. i'm not a anglo-american. you're not a hispanic-american. >> i'm an american. this little girl is an american. stuart: paloma. >> that is my daughter's name. she inspired the book. this is the book. if you're frustrated what you're seeing in children's literature. this book unites. stuart: you have eight children already. >> yes. stuart: was it six boys and two girls or six girls and two boys? >> it is going to be six girls, because this is a girl. and three boys. so the boys are outnumbered. stuart: i will leave it right there. rachel, thank you very much for being with us. >> thank you for letting me on the show. stuart: a book written about me. i love it. rachel, appreciate it. >> thank you. stuart: bernie sanders has called out joe biden for saying he only wants to become president to get trump out of office. bernie says, that is not enough. you will hear what bernie has to

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stuart: gone back up a little. now a gain precisely 2/3 of 1%. that is 171 points. 26,289 is the level. look at general electric, your granddad's stock, or it was, not now. it is up 5%. that is a 5% gain. that is 44 cents higher. general electric at 877. i'm not sure why it is up 5%. working on that. trying to find you a reason. as one would say. man of many talent. joe biden asked by a reporter how badly he wants to be president. he answered, it is really, really, really important not to reelect president trump. he is taking heat for not having a vision for his campaign, including from bernie sanders. watch this. >> i will do everything that i can to defeat donald trump and biden is right. that is what we got to do. but here is the bottom line. i think that is not enough.

i think certainly what our campaign is about, speaking to the pain that working families in new hampshire and vermont have, all over this country. stuart: we need an answer to that. martha maccallum will provide it. she is the host host of "the st" with martha maccallum. she often does join us on wednesday. welcome back. >> thank you. is. stuart: is it enough not to want to reelect president trump? >> probably not. probably not. he said i could die without ever hearing "hail to the chief" played for me. i was not planning to run. he was not successful first two times for the very reasons we're seeing now. if you are beating incumbent president you have to have a ton of energy. you have to have a fresh optimistic message for america. if you look at that, i don't think necessarily bernie

sanders, i think elizabeth warren has best claim on solid campaign, very energic message. she is someone who might be able to tack significantly center if she does get the nomination and pose a perhaps a threat to president trump. seems though, joe biden remains the leader of the field, leader of the pack. >> he is up 13 points on "real clear politics" average right now. welcome to the election. it is just after labor day, right? people will start paying attention now. this next debate will be very important for joe biden. at some point in the process he will have to look solid. like he has got his facts under his belt. that he is ready to fight. he is sharp as a tack. this is really important moment for him, but i think the numbers have happened up to this point but largely insignificant. stuart: it could be a lot of people fleeing to the perceived moderate because the rest of the pack is way out there on the extremes. that could be happening regardless of his flubs, dubs

and stumbling. >> his biggest selling point, reassuring stability. you know what? that is something people in this country really do want that is a very attractive element of what he offers. the president i think would be wise to offer a little bit of reassuring stability to the american people, to show he can also offer that side, that he has that muscle. perhaps a speech from the oval office where he is speaks to the american people and says, here is why the battle against china is important. let me explain it to everyone. stuart: if the president does that national address, we will say, martha maccallum suggested that on "varney & company" and president -- >> it would be a heck of a good idea, don't you think? [laughter] stuart: it would. we'll be watching tonight. thank you. senator warren is out with her 3 trillion-dollar climate plan of the how does she plan to pay for it? in part reversing trump tax cuts. that is radical stuff. my take is coming up. las vegas may lose its spot

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stuart: all right. precisely 11:00 eastern time. we can break this news. treasury has new sanctions against iran. ashley with me, deirdre bolton with me. what's the details? ashley: basically, as treasury describes it, a complex network has enabled iran to go out, sell oil illegally and millions of dollars worth of funding going to assad in syria, to hezbollah and other illicit actors. they are using fake companies to front all of this and as you know, we have big sanctions on iranian oil. no one, you know, a, you can't sell it. that's what we say to iran and b, anyone that takes it in is also subject to sanctions. so this has been operating, they have identified it, some 10, 11

individuals, 11 vessels involved in this. it's a huge operation and treasury is on it. deirdre: we are watching oil move higher. stuart: the price of oil over two bucks. deirdre: and the dollar. a lot of this oil market, of course, trades in dollars. we know there was trouble a few years ago from processing those trades. stuart: we are looking at a rise in the price of oil in part because of this new sanctions against iranian oil and shipping thereof. oil is just shy of $56 a barrel as of right now. now this. climate change is now front and center of the democrats' challenge in the 2020 election. all four leading contenders in the presidential race have embraced radical policies. there is no moderation here. if a democrat wins we are in for big and expensive change. just released, senator warren's plan. $3 trillion.

fossil fuel is phased out in ten years. kamala harris's plan, $10 trillion. climate change, she says, is quote, an existential threat to our species. the bernie plan, $16 trillion. climate change with a dose of socialism thrown in. and the biden plan, $1.7 trillion, we move to zero emissions by 2050. at this point, they are the four leaders. climate warriors, all. that is a remarkable shift for the party. it is a radical shift. here's one more common thread. all four are on the record reversing president trump's tax cuts. they characterize them as a giveaway to the rich and to big business. again, radical stuff because they are ignoring what the cuts did to stimulate the booming economy. my position is that voters will not sacrifice their jobs and/or their incomes for the promised land of climate change

mitigation. the democrats have become intoxicated with climate fever, because they think it's the key to the millenial vote, and they have jumped on the income inequality band wagon, too. they think tax increases are the way to level the playing field. as we head towards the next debate which is next week, it seems the frontrunners are united with radical policies on climate and taxes which means voters have a clear choice. green socialism or economic growth. the moderates are nowhere to be seen. this is the third hour of "varney & company." here we go. stuart: all right. we will get some reaction to my editorial coming up in a few moments from a former epa official. i want to know where these trillions of dollars for climate change will actually go if the democrats win in 2020.

keep it here. your money, very front and center here. check the market. we're up, what, 174 points for the dow, two-thirds of 1%. the nasdaq, nice gain there, about .87%. solid gains across the board. jeffrey cleveland with me now, payden & rygal chief economist. you think the market is up on james bullard calling for a 50 basis point cut this month? >> yes, it's possible. i think the main lesson for viewers is to keep in mind the federal reserve is a "they" not an "it." it is a series of people with different views. we heard this morning from bullard but we heard yesterday from rosengren conflicting messages, to say the least. i think from rosengren you heard the economy does not need immediate action from the federal reserve. then you hear the option from

bullard calling for a 50 basis point cut. because of the data we are seeing. mixed messages and that tells me there are many different opinions on the fomc so there's no sure bet with what they will do at the mid-month meeting. stuart: is there any significance to the former new york fed guy, bill dudley, walking back his comments from last week? last week he said the fed should not cut rates because that would help trump win in 2020. now he says he wasn't trying to suggest that the fed should take political sides. is there any significance to this political, this debate that's going on here? >> look, i think maybe, stuart, current and former central bankers are talking too much. there's probably a limit to what we need to hear from them to get the economy going. too many mixed signals, not only that, and former central bankers delving into politics which we discussed that last week. i wish they would talk less

would be my advice. stuart: i think six fed people are speaking today alone. let's get to hong kong. chief executive carrie lam is withdrawing completely that controversial extradition bill. good news for the protesters, maybe. maybe a little calming there. but why is it considered good news for our markets? >> well, i think uncertainty globally is the big risk to the u.s. economy and the u.s. markets. so whether that is hong kong, whether that is the chinese exchange rate with the u.s. dollar, whether that is tariffs, those are all these looming global concerns and if we can remove one from the list of worries, that should be good for the u.s. economy and markets generally. i think that's the way to read the headlines. stuart: okay. there was a headline yesterday at 10:00 eastern time on the manufacturing sector. it was literally 25 hours ago.

it spooked the market. the market went straight down on this signal of weak manufacturing. do you read that kind of significance into that report, that one report on manufacturing? >> no. stuart, the market focuses i think too much on the manufacturing data. this could be just an element of history, people that have been in the market for a long time fixating on the manufacturing ism. it's not a reliable indicator of the business cycle. that's the key, i think, for viewers. 24 times, 24 times, stuart, since 1952, the manufacturing pmi on the three-month average has dipped below the 50 threshold that everyone worries about. 24 times. we have had 10 recessions since 1952. so it is often a false alarm or a false prophet, if you will. i wouldn't put all my eggs in the manufacturing basket. globally, we are seeing the services side of the global

economy hold up pretty well, even in places like germany, europe, more broadly, the services pmis are well above 50. so too much emphasis on manufacturing, in my opinion. stuart: too much emphasis on manufacturing, too many fed people speaking out there in public, too much verbiage all over the place. well said. jeffrey cleveland, everyone. good man. see you again soon. thank you. let's have a look at the market. we are still up 169 points. no movement there. but walmart, look at that. $115 per share. they are backing away from selling handguns and some ammunition. not going to do that anymore. not in all stores all the time. they are requesting also that you don't openly carry guns in the store even if you've got an open carry jurisdiction where that store is. by the way, supermarket chain kroger, they also say please don't bring your weapons into the store. kroger's up, walmart's up. dick's sporting goods, remember them, last year they

announced that they were not going to sell assault rifles in response to the school shooting in parkland, florida. and the stock is at $34 a share, up a bit today. we are watching a new lawsuit stemming from the opioid crisis. drug stores on your screen, cvs, walmart, walgreens, are being sued for allegedly working with big pharma to push opioid prescriptions. all those stocks are up. hurricane dorian decimating the bahamas. that's an understatement. causing widespread destruction and still marching up the east coast. we are watching the storm, talking to the fox weather center shortly. we want to know where it's going. of course, it took time for the left to link the storm to climate change. we will tell you what alexandria ocasio-cortez said. staying on climate change, elizabeth warren calling for trump tax cuts to be repealed in order to pay for her green plan. its cost is $3 trillion over ten years.

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stuart: there you have it. dorian still making headlines. it's now a cat 2 storm. janice dean with us, fox news meteorologist. janice, where, in america, what's the place that's going to take the biggest hit, do you think? >> i think south carolina. because they are very vulnerable to the storm surge. i think the storm surge is going to be the big topic of conversation once the storm is over and obviously, the devastating impact that we had over the bahamas. this is the latest wind gusts, 50 mile per hour winds just offshore of the coast of florida and georgia and the hurricane force winds, by the way, extend about 60 miles from the center of this storm. even if you don't get a

landfall, you still could potentially see hurricane force winds for duration of several hours along the coast. here's the future radar, here's one of our reliable forecast models. the center of the storm remaining offshore from florida and georgia, but then as we get close to south carolina, we've got all of the storm surge and the worst of the winds and worst of the rain coming from that northeast quadrant and look at these vulnerable areas of myrtle beach and wilmington, some of these areas still recovering from florence and matthew three years ago. so this is not a good scenario. then we are looking at 9:00 p.m. thursday and a potential landfall here, as we get closer to the outer banks, another potential landfall for this region. however, doesn't matter if the storm makes landfall if you're coming around 40, 30 miles offshore you are still going to get those hurricane force winds, and the worst impact. so here's the advisories. we now have hurricane warnings for all of the carolinas, south carolina, north carolina as well so listen to your local

officials and do as they say. if they tell you to evacuate, that will be something that you need to do. then the storm surge, these areas are so vulnerable to storm surge. when you talk about five to eight feet, that's over top of you. stuart: so it's with us for the week. >> it's here until friday. yes. stuart: janice, thank you very much indeed. see you again real soon. congresswoman alexandria ocasio-cortez sounded off on what she thinks caused this storm. deirdre: she tweeted out with some images of a helicopter going over the bahamas saying i can hear climate deniers screeching it's always been like this and you are dim, meaning calling her unintelligent. this is what climate change looks like. it hits vulnerable communities first. we need to decarbonize, cut emissions or we will let people die. so what is unclear, obviously, is if there is actually a link to any of the changes that the atmosphere is going under and these kinds of hurricanes which have existed for a very long time. stuart: she will make the link

for political reasons. got it. okay. now, at the top of the hour, i editorialized about climate change and the left's plan to combat it. all of their plans, certainly the plans of the top four democrat candidates are in the trillions of dollars. that's how costly their plans are. a former epa official is with us. mandy, we talk a trillion here, $4 trillion there. where do those trillions of dollars go if the democrats win? >> that's a really good question. those trillions of dollars will go to supporting their socialist style programs and a complete restructuring of the economy, one that doesn't embrace innovation in the way president trump does but controls it in a way where they prop up intermittent renewables and try to force a shift to what they call zero emission technologies, although that's a bit of a misnomer as well, but force the transition so that the entire economy is dependent on wind and solar and they achieve zero emissions by 2050.

stuart: is that the heart of it, spending trillions of dollars to get us off fossil fuels and into renewables in ten years? that's where the money goes? >> that, and also supporting some of these social programs where it's, you know, giving people a job that don't necessarily want to work. it's a fake job, a green job. there were reports that came out this morning where california, who has embraced this early on in full force, the rhetoric hasn't quite lived up to the reality in terms of these type of jobs. so that's what it's really about. it's shifting the country away from fossil energy into renewables and trying to make up for the negative implications in terms of killing thousands, up to millions of jobs in the oil, natural gas and fossil based energy, trying to get them a safe green job in the process. stuart: that's an awful lot of money going out there, isn't it. >> it is. stuart: a trillion here, a trillion there, all of a sudden you are talking real money. you believe it's for naught. a lot of money. i will leave it at that. thanks for being here.

appreciate it. good to see you in new york. >> good to be here. stuart: don't be a stranger. okay. michigan just became the first state to ban flavored e-cigarettes. ashley: yeah. michigan says that youth vaping is a health crisis and now immediately, this ban goes into place. it prevents the retail sale and online sales of these, well, there's fruity flavors, sweet flavors, mint and menthol, all of those off the table for six months from now. that ban can be put back in order again when this one runs out, until lawmakers in michigan have come up with a longer term view but immediately, done. stuart: first in the nation. ashley: first in the nation to do it. of course, there's been vaping issues, people going to the hospital because of using these vaping devices. what they are putting it in, we don't know. there you go. stuart: going to show you some cars, fast cars. first of all, the bugati.

the first manufacturer to make a car that exceeds 300 miles an hour. this was in a test drive in germany. it actually went 304 miles an hour. now here's lamborghini's first hybrid, called scion, which means bolt of lightning in italian. zero to 60 in less than three seconds, making it their fastest car. the price is rumored to be in the millions of dollars. porsche is getting into this game, too. they unveiled their new all electric vehicle call the taycan. we are told it's a direct shot at tesla. ♪

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stuart: the price of oil is up a couple of bucks this morning, well above $56 per barrel. that's because america has tightened the grip on iranian oil exports. we are going after shipping companies and vessels which are trying to get the oil out of iran, clamping down on that restricts the supply, up goes the price. $56 a barrel. price of gas, no movement overnight. we saw it hovering right there

at $2.57. that's the average nationwide for a gallon of regular gas. how about porsche, unveiling their new all-electric vehicle called the taycan. let's get more about this from gary gastelu. what's so special about this? >> this is the first really high performance sedan that's going after the tesla model s which is kind of old now. the car has been around since 2012, it's not the cool kid on the block anymore. porsche is moving in with the performance and pedigree it needs to compete with tesla. more important, it has buzz behind it. tesla -- porsche, what am i talking about, porsche claims it has 20,000 deposits on this car already just unveiled today. that's basically the first year of production. stuart: porsche is known for speed and electric cars are known for speed. i take it that the acceleration in a porsche electric is going to be just dynamite. >> especially because the tesla is known for speed as well. zero to 60, 2.6 seconds. stuart: that's fast. >> about the same as the tesla. they say 2.4 seconds.

more importantly, porsche says you can drive this all day on the racetrack. it's not going to overheat, won't lose power. that's a big issue with a lot of electric cars today. stuart: we just heard that the sale of electric cars, down in the united states, down in china, down all over the world. i think that's because of cheap gas. >> mostly because of tesla sales. in china they are dropping because they are starting to take away a lot of the incentives there. that won't affect high end cars like this. porsche is opening the taycan with $150,000, $180,000 versions of it. they will eventually have cheaper models, under $100,000. it's come out strong with high performing, high-priced models. of those people who put down deposits, 50% own porsches now, 50% don't. most of those who don't, do own teslas. stuart: acceleration is what you want. >> exactly. stuart: thank you very much indeed. now to toyota. they just reported their best ever august sales figures. sales of their suvs, really way up across the board.

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stuart: we're back with a 209-point gain for the dow industrials and 26 of the dow 30 are in the green. the rally is on. i want to get right to our next guest, a first on fox, the chief executive of toyota motor north america, which just posted its best august sales figures ever. particularly strong sales of suvs. james lentz is with us, famous character in the car business. sir, great to have you on the show today. >> thank you, stuart. first time i have been called a character. stuart: i hope you don't mind. it seems to me that cheap gas is distorting the car market, pushing people into suvs and you have done well with suvs, and i think pushing people away from electric cars. sales are down across the board. what do you say? >> well, i think that's an interesting point.

we have been seeing this shift towards suv for probably three or four years right now. almost 70% of the market today is light truck but an interesting point last month, our sales of hybrids were actually up about 65%, primarily [ inaudible ] so i don't think people are necessarily walking away from vehicles with batteries, in the case of hybrids, but they are definitely [ inaudible ] for suvs. stuart: why did you stake so much on hybrids? i have just been talking to our automotive editor, gary gastelu, and he made the comment off camera, look, toyota is king of the hybrids but they are nowhere or not a real major player in electrics. why did you go so strongly for hybrids? >> i think the big reason is we listened to our customers. our customers were looking for value. we believe in increasing our

miles per gallon on an annual basis, but today, especially with inexpensive gas, consumers are very happy with the vehicle that gets 40 or 50 miles per gallon. they don't necessarily have to make that leap today to an electric vehicle but that said, we think hybrids are going to continue to grow. today, almost 9% of our sales are hybrids and by next year, 2020, we think it's going to be upwards towards 15%. stuart: okay. if you look across the range of your hybrids, the hybrid models that toyota sells, what kind of gas mileage do they get? can you give me an average? you just mentioned 40, 50 miles a gallon. is it that high across the board for your hybrids? >> yeah. if you look at a vehicle like the new corolla hybrid that has just gone on sale, it's about 50 miles per gallon. camry is close to that. prius is in that range. rav4 is in the 40s.

they are all acceptable mileage based on value that consumers are willing to pay. stuart: i suggested the move to suvs, you have done real well with suvs, is in part because we have got cheap gas, $2.50 is what most of us are paying in america at the moment. if gas gets more expensive, just if it did, would you expect your suv sales to come down? >> i think it depends on the suv. i think if you look at the large suv segment, a vehicle like sequoia, yes, it would be affected by gas price. but i think the interesting thing is in the past, we have seen it's not the actual price of fuel. it's the rate of change in the price of fuel. if gas were to spike from $2.50 to $4 a gallon overnight, you would definitely see changes in consumer behavior. if that goes up over time, it's less likely to see changes in

consumer behavior. stuart: last one for you. are you at all affected by the tariff problem with europe, with china, with anybody else? do tariffs hit you at all? >> sure. you know, probably the biggest tariff hits are the steel tariffs. 95% of the steel we purchase is u.s. steel, but as tariffs came into play, we saw a big spike in u.s. steel price. that has moderated to a degree, still quite a bit higher. we have very little impact from chinese tariffs, but if i could put a plug in, the most important thing in the industry today is the passage of usmca. almost two-thirds of the vehicles that i sell in north america are made in north america. so that is a critical component for the industry today. stuart: may i suggest that you call your lobbyist in washington, d.c. and have them have a chat with speaker pelosi, and ask her to table that for a vote in the house of

representatives so it can get this thing moving. just a suggestion, jim lentz, just a suggestion. >> thank you. stuart: you are a diplomat. he's staying silent on that. it was a pleasure to have you with us. you run toyota north america. great to have you here. don't be a stranger. we would love to see you back again. thank you, jim. >> thank you, sir. stuart: all right. china trade. still on that one. republican senators david perdue and steve daines met with china's vice premier liu he yesterday, trying maybe to rekindle stalled trade talks. tom kehoe is back with us, trade adviser. these two senators went over there engaged in trade debate and trade talks of a sort. are they getting in the way? >> well, daines, what i know about senator daines, he's from montana, big ag state again, and he's up for re-election, he worked for procter & gamble as an executive in china for five and a half years. he understands the culture.

i think it's important. you and i talked about this one other time. it's really important i think for us to put our people in the midst of these negotiations that really have an understanding of the way the chinese think and react and i'm not saying we're not doing that, but i think daines is not an impediment at all. i think he will be -- stuart: he's not in the way at all? >> i don't think so. stuart: is he conducted separate negotiations? >> i don't think anyone would dare do that, especially someone within the republican organization, and i'm sure he's over there with the full understanding of, with ambassador lighthizer and the white house as to what's going on. no one's told me that but i'm just saying, my gut tells me and i know the way things work. he's very pro-administration. stuart: i will get back to the question which i always ask you when you're on the show. has the president, president trump, retained the political loyalty of the farm belt? i ask that because on sunday, just a few days ago, he imposed

more tariffs, the chinese responded with more tariffs on our stuff, it's really heating up, and farmers are suffering. do they retain support for the president? >> well, i think we saw about a week or so ago, mr. duvall, zippy duvall said we hope the president can work something out but look, when he speaks, he speaks for the farm bureau, the american farm bureau of the united states. he's very influential. that's the farm lobby. i brought a little something for you. this is -- when i was in china a couple years ago i went to j.d., as we call it here, and senator daines said recently that when two years ago he made a large livestock deal for the people in the state, and this is a litt little -- this is for you. you can have this. you can put that in your office. stuart: you are too kind. tom kehoe, thanks for joining

us. >> thank you for having me on. stuart: i want to get to hurricane dorian. it's now a cat 2 storm, just off the east coast of florida in the central part of the state, moving north. winds still around 100 miles an hour. now, over the past few days, it literally hovered over the bahamas as you know. at least seven people lost their lives. joining us now on the phone, ellison thompson from the bahamian ministry of tourism. the brief look we have received, we are looking at the videotape now, that looks like catastrophic damage. will you full ill us in, tell uw bad is it? >> good morning. thank you very much for this opportunity. as you know, the hurricane hit the bahamas, the northern bahamas and the country is 700 islands, but the central and southern bahamas were not actually affected by the hurricane. however, two major islands, abaco and grand ba hama island

were badly hit. the fact it hovered over the island for quite a few hours was not a good sign. however, we have to take the all-clear that the hurricane has been out of the bahamas so now rescue and reconnaissance efforts are on the way to assess the damage and give us a full report of what's going on. stuart: that's good to hear. we thank you very much for being on the show this morning. we certainly sympathize with your nation. that kind of damage is tough to take. thank you so much for being on the phone with us. appreciate it, sir. thank you. check the stock price of google. they settled with the ftc for $170 million, allegedly they violated children's privacy rights, laws, i should say. collecting data on kids without their parents' permission or knowledge, or for targeted ads. the stock's up seven bucks but it was down 19 yesterday. as for facebook, they are rolling out facial recognition

features for all users, meaning the site can automatically tag you in photos or videos just by your face. you have to opt into it. got to opt in. facebook says by default, it is turned off. i'm going to call this one maybe the stock of the year. roku. they have rolled out a new smart sound bar and a wireless subwoofer. all to amp up your tv sound. the sound bar comes preloaded with roku's streaming platform, of course. you can get them both in october, $180 apiece. by the way, roku's stock is up 400% this calendar year alone. i didn't see it. another poll shows joe biden firming the lead over his democrat rivals despite all his gaffes. the latest numbers for you. bernie sanders calling out biden for saying he only wants to become president to get trump out of office. bernie says that's certainly not good enough. you will hear what bernie had to say in a moment.

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stuart: what's the betting capital, the sports betting capital, of the united states? obviously you think las vegas, right? well, hold on a second. deirdre? deirdre: the garden state coming up strong. new jersey. let's hear it for new jersey, with nine million people, 8.5 million in new york, few more in philadelphia so as far as access, you compare that to nevada as an entire state with 2.5 million. sports betting has been legal in nevada since 1949, in new jersey since last june, and already, jersey has 1.5 billion versus 2.7 billion for vegas. stuart: okay. sounds like it's being overtaken. next case, more big money

being doled out in the nfl and it's going to dallas cowboys running back ezekiel elliott. wait a second. ashley: six-year extension. stuart: how much? ashley: $19 million. when you add it on to the last two years of his current contract, he will have over $100 million up to 2026. deirdre: he tweeted out a gif of him eating money like cereal. ashley: make it rain. stuart: good for him. you don't last long in the nfl. ashley: grab what you can. stuart: hundred million. i'll take it. next, new harvard harris poll puts joe biden still firmly out front. he's ahead of bernie sanders by double digits, actually. bring in kelly sadler, america first action pac director of communications. okay. i think there's a run towards joe biden, simply because the rest of the field is so far to the left. look, i'm feeding you good stuff. i'm sure you are going to agree with that, aren't you? >> well, you know, i would

disagree with the fact that biden is some sort of centrist. if we just look at the state of pennsylvania, now, that state has great strategic significance for us. there are 243,000 jobs in that state that are directly related because of fracking. the fracking jobs, $91,000 is what the average employee earns. if you talk about biden, if you talk about sanders, if you talk about warren, those jobs are gone. they are eliminated because of the ban on fossil fuels and the ban on fracking that all those candidates are proposing. that is far left. if you read the local news in pennsylvania right now, there's a bunch of pipelines that are being built in the state, get this, to get natural gas out to places like new jersey, into ohio, and there are all these liberal leftist protests. stuart, in some of the papers, these liberals, the sierra club, were bathing mountain lions and bears into construction sites to

stop construction. where do all the candidates stand on this issue t pipeline issue? do they want them to be built or not built? this would also inhibit thousands more jobs, new jobs from entering the state. stuart: we should be asking joe biden about the pipelines. it's a vital state. yesterday on the program i was saying that joe biden says himself he only wants to run to beat donald trump. now it seems that bernie sanders agrees. roll that tape. >> i will do everything that i can to defeat donald trump and biden's right. that's what we've got to do but here is the but, i think that's not enough. i think certainly what our campaign is about is speaking to the pain that working families in new hampshire and vermont have all over this country. stuart: speaking to the pain of working families all across this country, and being against the president is not good enough. i'm feeding you again. here you go. what do you make of this? >> well, you know, i think that biden has an enthusiasm problem.

this is something that the "new york times" reported on this week about the crowds are not there for him. he's kind of limping through the states, kind of not, you know, not a happy warrior but a begrudging one, and this is translating, does he want this, does he want to work for this or does he think he's entitled to have it much like hillary clinton. with bernie sanders, yes, he's got enthusiasm, with the youth vote, everyone, you know, free, free, free, free, free programs that everyone knows that us tax payers, especially the middle class, will have to pay for. stuart: you got it again. kelly sadler, thank you. see you soon. couple of markets we like to check. first of all, gold down today but hardly down. 50 cents lower at $1555 an ounce. how about bitcoin? still around $10,000 a coin, i believe. yes, it is. it's down $265. "will & grace" actress debra messing demanding the names of

attendees to a beverly hills trump fund-raiser to be outed. john o'hurley was the first to call her out on this. now whoopie goldberg is joining in. wait until you hear what she said and you will hear what she said. ♪ ♪

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♪ ashley: interesting. stuart: led zeppelin for the next story. turns out more and more spotify subscribers, not turning into the -- turning on to the new stuff. they like the old rock and roll. deirdre: yes. this is actually the biggest growing area of streaming music. if you look to neilson. new hires, they have head of catalog, that's their title, and they play, they put together lists of queen, elton john, led zeppelin. spotify as we know founded in 2008, meant to appeal to a younger audience but they say a lot of younger people are now discovering this music.

this will be music to your ears literally. the music of prior generations, for example, beatles. stuart: my kids and grandkids like the beatle. to a point. celebrity news. this is worth it. debra messing wanted to out the hollywood attendees of the fund-raiser for president trump. john o'hurley called her out and now none other than whoopie goldberg is following suit. roll that tape. >> last time people did that, people ended up killing themselves. this is not a good idea. we don't go after people because we don't like who they voted for. remember what the blacklist actually meant to people and don't encourage anyone, anyone to do it. stuart: okay. strong stuff from whoopie goldberg. i was not expecting her to say that. the strength of her tone there. deirdre: people can vote for who they want to vote for. that was her point, right.

this is something we do in the united states. ashley: we don't go after people like that. we talk about the issues and stuff but we don't stalk people. stuart: she is obviously saying if you do out the people who attended the fund-raiser, people will go after them. ashley: of course. stuart: she doesn't want that. ashley: no. stuart: in principle, do we not have the right to know who is giving money to that campaign? don't we have that right? deirdre: so the argument has been made yes, particularly for corporations, but i think a lot of citizens for what it's worth draw a line between me as an individual donor and then a corporation or if i'm hiding behind an llc. ashley: campaigns have to put out the lists of donors, do they not? it's that public. i would imagine it is. it's a public process. you can ask to see the list of donors for an individual candidate. stuart: can't you donate to a pac? ashley: yes. you could go that route. stuart: the pac contributes the money and they don't know you have contributed to the pac.

ashley: it's the malice behind the original point where you try to out people, quote unquote, and stalk and harass them. deirdre: another "will & grace" character says publish this list so we know who we don't want to work with. then you infringe on people's rights to make a living. stuart: i don't like that. i'm with whoopie on this one. more "varney" after this, promise. ♪ . .

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go beyond the expected. to do the extraordinary. take your business beyond. stuart: oh dear, we told you we would have the lady from the bahamas who had rescued i think 97 dogs during the hurricane, rescued them, took them off the streets, put them in her own house. that is a rescue operation. chella phillips is the lady.

we tried to call her. it could be she lost power. we'll certainly try calling. that is wonderful story, rescuing 97 dogs in a hurricane. put her on the show. trump administration is rolling back obama era rules, on, pet peeve of mine, light bulbs. >> energy-saving light bull ans actually. they are rolling back a requirement that makes public places have to install these. the obama administration had mandated it even though it was more important, saying that the bulbs last longer, therefore longer term would save you money the trump administration saying -- ashley: correct. stuart: buy what you want for your own house? ashley: yes. people are transitioning to led, that won't stop for sure, but this also rolls back laws to deirdre's point you can indeed go with the lesh efficient ones in you want. stuart: give us a choice. it is my money for heaven's

sake. my light bulbs. we were vigorous on this opposing new rules which the administration is rolling back. time's up for me at least. here we go. neil cavuto, it is yours. neil: thank thank you, stuart v. we have stocks up 210 points. on belief things are progressing smoothly on the trade front. you know every good word comes out of via the white house or china, tends to put up stocks, it could be a nasty tweet or it was the former. people are looking at the president's temperment, whether he will have to be on against, now that data is improving in china as ours seems to be going the other way. we'll get read from former defense secretary of united states jim mattis. he is coming up in just a few minutes. first the china service sector rebounding in august with a ro