maria: sounds like you want to own stock here. >> in a big way. maria: okay. great. great to have everybody this morning. it was a busy day. we have the u.n. week. we will watch all that. see you soon. thanks so much. that does it for us. have a great day. "varney & company" begins right now. stuart, take it away. stuart: good morning, maria. good morning, everyone. here's a great way to open the show on a monday. positive trade news on two fronts. first of all, a deal between america and britain. prime minister boris johnson and president trump have agreed to conclude a deal by next july. it would be the largest free trade agreement that america has ever made with a single country. second, at the u.n. meeting of world leaders, japan and america are expected to announce a trade agreement which will cut japan's tariffs on american beef and pork. trade headlines can be a problem for the market. not today. stocks will open flat to slightly lower but look at the levels.

the dow is about, what, 400 points away from the all-time record high. the s&p, about 1% away. the nasdaq, maybe 200 points away. so despite all the impeachment talk, the climate wars, our markets and our economy, best game in town. then there's wework. not looking good for adam newman, the man who runs the company and who wants to take it public soon. some directors want him out before the ipo. hold on. big program coming for you. wait until you see the howdy modi show. great to be back. "varney & company" is about to begin. prime minister modi is doing a truly exceptional job for india and for all of the indian people. it is my immense privilege to be here with him today at this

profoundly historic event. we are especially grateful to be joined by over 50,000 incredible members of our nation's thriving, prospering flourishing and hard-working indian-american community. stuart: big rally, president trump, the rally there in houston, texas, with india's prime minister modi. was it 50,000 that showed up? ashley: 50,000. howdy modi. a very texas welcome. kind of a win-win for both, i believe. certainly for mr. trump who why not, appealed to the indian american population. four million. texas has the fourth largest population of indian americans and for mr. modi, he's going to be going to the u.n. i have a feeling his reception at the u.n. is going to be a little frostier than it was in houston because of what's been going on in kashmir that india overseas. nevertheless, i think it was remarkable.

just the size of the event. look at that. stuart: i understand prime minister modi is going to be talking with american energy executives in texas. that's going to be intriguing. we are now in a position to export natural gas to india. it's a beautiful thing. now, earlier this morning, futures took a bit of a hit after the announcement of very weak manufacturing data from germany and from france. look who's here. jeff sica, circle scarquared alternative investments. here's how i see it. you may see it differently but here's how i see it. america, the market and the economy, best game in town. what do you say? >> i would definitely agree with that. i think we are absolutely the best game in town. europe is in a complete shambles when you really think about it. i think what that's causing is money is not going into the european stock markets, it is coming into this market, but the question is how long is that going to happen before money just comes out and goes into

cash. stuart: why should it come out? >> it should because what could potentially happen if there's a negative result out of these trade negotiations, it could very much -- the market could become more risky than people want to endure at this time. stuart: as of now, absent a negative on china trade, and with a positive on uk trade and japan trade and probably usmca as well, as of now, things look positive to you, even to you, jeff sica. >> even to me. there's a need to hope there's no news and as long as there's no news it's not going to get ugly. it's when the news comes out and the news is negative, investors take their profits and they get out because there's a lot of people holding a lot of profits and when people hold profits, they are very quick to sell. stuart: hold on, jeff. more for you in a second. i want to talk about wework. ouch. more trouble for what was going to be a giant ipo.

some board members want adam newman removed as ceo. susan: the largest shareholder, softbank apparently have lost their patience with adam newman after the ipo was delayed, they say, although a lot of people don't expect it in 2019. also valuation was sliced by two-thirds and there are allegations of drug use and erratic behavior that came out in a "wall street journal" report about adam newman last week. that includes the transfer of marijuana board a private jet to israel, according to the "journal" so there's going to be a board meeting held this week, not necessarily today, and they are looking to basically move adam newman from ceo to a non-executive chairman role. however, as you know, adam newman has super voting rights which means he can basically cancel any board, any of these detailings and proposal that comes up to him but this is very reminiscent of 2017 before the uber ipo. however, he didn't have the kind

of control adam newman has over the board. stuart: jeff, could i say this. either newman leaves or there's no ipo? >> he has to leave. he's a wild card. the fact these companies give these super voting rights is horrendous because when you have somebody like this who implodes, you know that it's going to affect a lot of people that have put a lot of time and effort to getting this company public. he has to step down or else this ipo should not go forward. stuart: i drove past a wework enterprise unit just the other day. it was empty. it was sparkling new. they spent a fortune on a gym. it was a very nice-looking place but it was empty. i get the impression that the whole idea of wework isn't working. >> you know what, when you look at it, you have to really wonder why investors and people have been so optimistic about dhon septemb

this concept. this concept has existed for quite awhile and it's really not gained any momentum in terms of understanding how this is going to make people -- how this is going to make investors money in the long term. i would not take a risk with this. i'm big in commercial real estate. i understand commercial real estate. this to me conceptually, you think there is a lot of companies who may like this, but there is still not a way to monetize this model in the long term that makes it make sense to any investors whatsoever. stuart: you are really batti batting .100 or whatever it is. jeff, stay there. more later. now this. snap compiled a dossier on facebook's aggressive tactics that dominate social media. jackie deangelis at the new york exchange. here's my question. what did facebook allegedly do that was aggressive and nasty? jackie: they are speaking to anti-competitive practices and saying because facebook owns instagram, that actually they

were telling influencers not to post on instagram anything about their snapchat, anything that would have some sort of cross-promotion. when we are looking into anti-competitive practices, that's exactly the kind of thing you are talking about. the dossier was called project voldimort, reference to harry potter there. this is one of those situations where it's like the competition is trying to kick facebook while it's down because regulators are looking into it and piling on at this point. but interesting to see how this progresses. mark zuckerberg seems like he's playing this very very smart when he goes and testifies. back to you. stuart: the stock is still at $189 per share. let's not forget that. jackie, thank you. now this one for you. apple teaming up with oprah winfrey to create a worldwide book club. susan: multi-year partnership that was announced earlier this year, a few documentaries coming and now oprah's famous book club as well.

the first interview will stream on apple tv plus which of course debuts on november 1st, undercutting the netflix price at $4.99 a month. we have oprah, jennifer aniston, reese witherspoon, they are bringing a lot of original programming and big names to the screen. stuart: i knew every one of the names. susan: i'm surprised. i saw that. stuart: every one of them. apple is at $218 a share. trying to figure out what is the high for that. i don't quite know. susan: the high for apple stock? in the 220s. stuart: pretty close to that. it's a dow stock, too. when we open trading this monday morning in 20 minutes' time, the dow will be down maybe 15, 20 points. very tiny gain for the s&p. same with the nasdaq. well, it was another violent weekend of protests in hong kong. listen to this. a top police commander warns that the violence has gotten so bad they might have to kill someone or be killed themselves. his words, by the way. britain's oldest tour

company thomas cook collapses overnight, leaving hundreds of thousands of travelers stranded all round the world. look at tesla's stock. the company's board must face trial over elon musk's multi-billion dollar pay package. the judge coming up next on that one. it's down 1% this morning. "varney & company" just getting started. ♪ why accept it frompt an incompyour allergy pills?e else. flonase sensimist. nothing stronger. nothing gentler. nothing lasts longer. flonase sensimist. 24 hour non-drowsy allergy relief

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like me-ow. stuart: hockey fans, boston beer has announced a multi-year partnership with the nhl. truly hard seltzer will be the official hard seltzer of the nhl. got that? very important stuff. this is important. this is outrageous, frankly. judge a judge a judge in de tesla's board of directors has to stand trial and defend elon musk's pay package. look who's here. judge andrew napolitano first thing on a monday morning. i can take you for this. this is good. monday morning.

why on earth must a board of directors go on trial because of a ceo's pay package? >> utterly outrageous. it's a novel view of delaware law and the argument is because he is a 21% shareholder, that the other shareholders might have voted for his pay package in fear of him and it wasn't a freely exercised vote. in my view, i read his opinion, it's a 50-page opinion, there is no evidence for this what soe . soever. this is a colossal waste of time and money on legal fees. they have a dissident shareholder who objects profoundly to the award, not compensation, he's being paid zero, it's an award that he can reach. $55.8 billion if tesla achieves certain goals which it has yet to achieve. first of all, this is moot because he hasn't been paid,

because tesla hasn't achieved these goals yet. secondly, there's obviously a vote of a compensation committee. they had an outside group come in and advise them as to what his compensation would be. they picked a number that was lower than what the outside group advised. shareholders voted for it. there's no evidence of intimidation by him. the judge wants a trial. it's no jury trial, it's a trial before this judge, a single judge in delaware called a chancellor. stuart: is that what's going to happen? they all have to parade into the courtroom and do this in front of one judge -- >> i can't imagine this would be settled because nothing will satisfy this dissident shareholder short of reducing the award. the whole purpose of the award is to structure the company so that the driving force behind it, one of the great creative geniuses of our day, whatever you think of his personality and lifestyle, will achieve the goals of the company. stuart: i don't think this is a tesla story. i think this is a judicial

outrage story. >> this could happen to almost any corporation that is incorporated in delaware which is most of the corporations, publicly traded corporations in the united states. stuart: you said that musk has 21% of the stock. >> right. stuart: if he had, say, 15% of the stock, would that make a difference? >> you know, the judge did not get into numbers but he just said, i'm summarizing, paraphrasing, this is the 800 pound gorilla in the room. everybody knows who he is. he's a powerful force. with 21% of the stock, he's going to get his way. if it had been five or six, i don't think so. 15 might be close enough to 20. he didn't do it quantitatively. he almost did it emotionally, knowing of the force of musk's personality. quite frankly, this is beyond the judicial ability to make the determination. how can a judge decide the personality is so forceful that the other 80% of the shares are not being voted freely?

stuart: the law is being used as a club to beat somebody up and reverse a perfectly legal financial decision. >> this will also force the public exposure of a lot of financial materials that the s.e.c. does not require be exposed. it's all going to come out in the trial. i don't know how they settle it and there is no trial date, but it's going to come very soon. stuart: is there outrage in judicial circles? >> quite frankly, no. but this is a new decision. i think the outrage will come soon. stuart: it's more business for lawyers, isn't it? i hate to put it like that. >> you don't have to be sorry. i think it's an important story. the public needs to know what the legal community is doing. what does this do to the equity? it forces the expenditure needlessly of millions in legal fees. stuart: i think we're on the same page, sir. >> see what a vacation will do for you? stuart: you got it, judge, thank

you very much. >> all the best. stuart: back to futures. a very modest loss for the dow at the opening bell. same story for the s&p and nasdaq, too. now this. rebels in yemen warning that iran is preparing another attack on saudi arabia. will the iranians force an american military response? remember, the president seemed determined to avoid war. we've got that covered for you, promise.

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stuart: houthi militants in yemen warn that another attack by iran is coming, probably, what, on saudi arabia? ashley: well, yes. there's a follow-up to that attack on the oil facility, saying that you know, look, you need to be warned, the iranians came to us and we didn't want any part of it. of course, most people are skeptical about this. however, saudis are taking everything very seriously, as you can imagine. the saudis are also very concerned about an attack on civilian airports, even as far as in riyadh. not just oil facilities. this latest statement, they aren't putting much store in it. stuart: the price of oil is still $58 per barrel and the price of gasoline is still $2.66 a gallon in the united states. all of this has not made that much news. ashley: times have changed. stuart: ten years ago it would have been very different. breaking news. here we go.

first lady melania trump will ring the opening bell at the new york stock exchange. she is there with children from the united nations school to celebrate the opening of the general assembly. of course, the market opens at 9:30 sharp. we will be covering it, of course. there is the first lady getting ready to ring the opening bell at the new york stock exchange. that's an honorary position. first lady is right there with all the youngsters from the u.n. school. okay. that takes place 9:30 which is 6:45 away from the actual opening bell. we are going to see the dow come down a little, 6:38. ashley: you're good. stuart: i can read. i can still read. we are down, what, 40 odd points for the dow, 3 for the s&p, maybe 3.7 for the nasdaq. i'm going to call it flat to slightly lower in the very very early going this monday morning. by the way, that level, the dow is just a few, about 400

points, maybe 450 points away from the all-time high. the s&p is about 1% away from the all-time high. nasdaq's pretty close, 200 points -- a bit more than that. the bottom line is this. i have been away for a week. all i have been reading about is impeachment and climate warriors and sharpie-gate. remember that one? the weather map thing? ashley: alabama. stuart: not a word on our booming economy. here we are, monday morning, you're coming back to work and we're opening the show and there's the stock market awfully close to all-time record highs. what a mess. ashley: mainstream media. susan: we do have doubts about whether or not we will get a deal on china trade. president trump at the howdy modi rally saying we want a complete deal, not a partial one. also, the chinese delegation canceled a trip to montana after meeting with the u.s. delegation in washington, d.c.

that was seen as a negative. stuart: i guess that's a negative as well. on the other hand, you have a uk trade deal coming by july and you've got a u.s./japan deal coming probably announced on wednesday. there you have it. sort of checks and balances here. we'll be back. at fidelity, we believe your money should always be working harder. that's why your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. of the value you'll find at fidelity. the ncome on.y glc. [ cars honking ]

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stuart: you hear about this? thomas cook, it is the world's oldest travel company, it collapsed overnight. wait a second. is it 150,000 people stranded? ashley: 150,000uk residents stranded. if you want to include, they have operations around the world, 450,000 thomas cook customers are stranded around the world. they just launched operation matterhorn, the largest peace-time repatriation in history to get people home. they are leasing aircraft, ba has volunteered one craft, jfk to manchester with 300 people on board but they are stranded around the world. this is a company that's been debt-ridden for many, many years, tried desperately to get some extended funding over the weekend. that failed. it collapsed. now they are trying to get people back to their home countries. stuart: maybe that company was founded in, what -- ashley: 1841. stuart: that is an old company indeed. all right. please pay attention to the new

york stock exchange. you can see it there on the left-hand corner of your screen. first lady melania trump ringing the opening bell with children from the united nations international school to celebrate the start of the u.n. general assembly. she has rung the bell and we start trading. we have gone down right from the get-go. we are off 87 points now, about one-third of 1%. pretty close to a 100 point loss as we speak. okay. that's the dow. let's go to the s&p. is there a loss there? yes, there is. about the same amount, one-third of 1% down. nasdaq, home of the technology issues, of course, that is down a mere fraction, a mere .10%. i infer from that that technology is doing okay this morning. we shall see. the price of oil, $58 a barrel. there it is. it's up 11 cents despite all that is going on with threats in the middle east. $58 a barrel for crude. joining us this morning, jeff sica, jack hough, susan li,

ashley webster. jack, you first. i have been away for a week. i have been reading horrendous headlines about impeachment, global climate change, sharpie-gate, not a word about the economy. we are doing okay, aren't we? >> we are doing okay. you can find anything you want depending on your politics. politics these days is like the dumbest thing that smart people do every day. everybody wants to talk, cherry-picking economic figures. what i'm seeing is the news is two-thirds good and one-third not so good. we can look at manufacturing and we can see weakness there. we can look at low interest rates aren't really getting gdp growth going gangbusters but hey, look at jobs. the jobs market looks great. look at housing. that's very stable. the stock market, i know we have a weak opening right now. the stock market is broadly moving higher. and the consumer, by the way, is very strong. that's most important of all. stuart: the top of the show, i pointed out two positives on trade.

america's going to get a deal with the brits by july of next year. and america's going to get a deal with japan probably on wednesday of this week. susan, tell me again, two negatives on china trade. susan: so we have the lower level chinese delegation, they basically were meant to go to montana and other farm states. they canceled that trip. that was seen as a negative. also, you heard from president trump before he headed to houston for the howdy modi rally and says we want a full deal, not a partial one. stuart: there you have it. down 100 points in the first two minutes of business on this monday morning. elsewhere, disney's chief bob iger has been talking to the "new york times" about why disney passed on buying twitter. susan: it's interesting he actually even talked about buying twitter. that was something new, r revelatory. he said it was basically bad for the disney brand, an impact to

society he questions and frankly, the nastiness of social media is extraordinary in his view. instead they purchased a majority stake in the sports streaming site instead. i guess it protects the disney brand. it makes sense. stuart: it does. ashley: the twitter platform is not the happiest place on earth. >> disney is the place you go to escape the kind of things that happen on twitter. susan: he called it a compelling way to reach consumers, a way to get into the debate. again, i guess there's more downside than upside in buying twitter. stuart: i just don't see disney alining with twitter. >> they were talking about buying it in 2016. maybe if they got it early and could adapt it, it would have been a good platform for them. now it is an ugly cesspool. stuart: how do you keep that out of twitter? i don't know how you do that. you can't. okay. we are down 86 points after three minutes' worth of business. time we looked at facebook. got to follow this thing.

it says it's suspending tens of thousands of apps because of privacy issues. all right, jack. forget the privacy issues for a second. you have written a piece in barron's that says you like facebook stock. >> i have been writing this for awhile. i'm looking at the growth. i'm not listening to what people are telling me, what they are saying about facebook. i'm looking at what they're doing. advertisers are spending more money there. facebook is gaining users. users are spending plenty of time there. everybody hates facebook no matter which political side they're on but everyone's using it. by the way, i like the sight of mark zuckerberg in a suit and tie meeting with the president the other day. i think this guy is out there making friends. susan: the charm offensive. >> here's the problem i have with facebook. facebook is not concerned with the end user. they are concerned with their own relatiputation. they had a chance to protect our privacy and they didn't. i do not share jack's enthusiasm. susan: in this article they are suspending 69,000 apps. they discovered after the cambridge analytica scandal,

which affected 87 million facebook users but you know, as jack said, you have to take a look at the end points. you have 2.5 billion of the planet's population on their platforms and yes, they may be stealing snap's technology and stories to get more of their users engaged. this is a company that you can't argue with, they make $5 billion each and every quarter in sales. stuart: look at this. this morning the stock is at $188, $189 per share. barely a dent in it despite all that's swirling around on the outside. check the big board. we are five minutes in. we are down 79 points on the dow. by the way, the dow component nike, they are going to report after the bell tomorrow. we are walking this up way in advance. the stock is up just a fraction at $86. bitcoin, where is it? when i left it was $10,300. that was ten days ago. now it's $9,900, down $200 this morning. how about gold? when i left it was $1510.

right now, it's $1525. the ten-year treasury yield, when i left, can't remember, i'm sure it's gone up, though. ashley: been awhile. stuart: 1.70%. our producer just asked do people trade on the basis of my vacation. no, they do not. dow component walmart, this is big, no longer going to sell e-cigarettes because this rash of vaping-related illnesses and deaths. jeff, what do you think about this? >> i would like to point out the blatant hypocrisy of walmart. i tend to like walmart as a company. they are still selling cigarettes. cigarettes are responsible for probably about a half a million deaths per year. cigarette related. this whole vaping, i'm not saying vaping is safe. the jury is still out on that. but they are coat-tailing a hyped story and doing this for public opinion and doing nothing

about cigarettes. i think people should be able to do what they want to do but let them be consistent and ban both cigarettes and vaping, and i think people would think a lot more highly of them. stuart: anybody want to comment? >> i didn't realize that's really incredible. probably there's a lot more money for them in cigarettes. it reminds me, you talk about hypocrisy, if you smoke cigarettes today, you are an absolute leper, get out of town, don't be seen. if you are smoking cannabis it's high fives all around. you are right on trend. stuart: that is true. in a single day when i leave the studio and walk two, three blocks around new york city, you can smell it everywhere. there's no mistaking it, the smell is right there. i never smell tobacco any longer. all i smoke -- smell, all i smell -- >> whoa, whoa, whoa! can we get the tape back? there was an admission there. stuart: please take a look at another dow component, johnson & johnson. you like this thing despite all that's swirling around.

tell me. >> i'm turning into the guy who likes all the evil stocks but look, johnson & johnson is a diversified company. many parts of this business, it's rare you find a company where all the parts of the business are working at the same time but this company on the whole is growing right now. it's much cheaper than it has been historically. it is a fairly recession-resistant business if you are looking for some safety but you have to get past the dreadful headlines about the opioid judgments we know are coming, also the talcum powder case. stuart: once you get a dollar number from the opioid problem and the talcum powder problem which you know their liability and you have a dollar number, that stock goes up. >> i think you're right. keep in mind, everybody now is looking for the deep pockets. j & j has proven time and time again they are the deep pockets. i agree with jack. they have a long-term good plan to grow this company, continue to grow this company, but short term they have a lot of headline risk. i stay away from it until some of this works itself out.

stuart: you might miss a buying opportunity. it was a good buy at $125. >> i miss a lot of buying opportunities. stuart: i've got a head line for you. it comes from barron's. wall street is worried about elizabeth warren. it's right to take her seriously. i would agree with that one. >> she is a serious threat to wall street. she will roll back a lot of what president trump put in, the deregulation. i think that's going to be a problem. plus she's going to tax us at levels we have never even dreamed conceivable. i really think that her getting into this office -- stuart: you're not a fan, are you? >> i'm not a fan. stuart: do you think she could ever win a presidential election? ashley: i don't. i think she's coming on strong on the democratic side. i don't think she can win. susan: not in a general election. maybe if she swings so left she might win primaries but for the actual public, voting public generally, no. >> recent history has shown i'm terrible at saying who could or could not win a presidential election, but i will say usually

i resist any claims that one or the other party is good or bad for the stock market. i think here, you've got a glaring case of things like this wealth tax. stuart: i don't want to do a paul krugman. paul krugman on the day president trump was elected said the market's going to crash. i don't want to repeat that by saying if elizabeth warren is president of the united states the market will crash. i will not say that again. >> beating up on wall street is not necessarily a bad thing, when you think about it. but the fact that she's very pro-tax and pro-regulation, that i would consider to be the negative. stuart: i think you're right. glad you're with us this monday morning. it's that time, 9:40 eastern time. gentlemen, thanks for joining us. appreciate it. check the big board. the loss has mitigated. we are now down 50. that's 26,800. look at the price of gas. $2.66 a gallon. that's your national average today. i say we have america's frackers to thank for what is a cheap gas

price. without the frackers, i think we would be paying five bucks a gallon. my take on that coming up at 11:00 this morning. the company goya best known for the beans, sent nearly 200,000 pounds of beans to the people of venezuela and now are focusing efforts to getting food to the people of the bahamas. the ceo is with us. president trump is about to score two big victories on trade, reaching deals with japan and britain. that story next. ♪ ♪♪ ♪♪

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at aetna, we find that inspiring.ot game. but to stay on top of your game takes a plan. that's why aetna takes a total approach to health and wellness. with medicare solutions designed to help you age actively. aetna medicare solutions. stuart: the loss continues to mate ga mitigate. now we are down 40 points. the u.n. general assembly gets under way in new york city and there are trade deals in the

works with japan and britain. curtis ellis is with us, former trade adviser to the trump campaign. curtis, i'm looking at the british deal, the uk deal. that seems to be really a big deal because it will be america's largest free trade agreement with a single country ever concluded. i think that's a big deal. what say you? >> it's a very big deal. of course, britain's got to get out of the european union before we can even do that. stuart: they will. >> they will. good. i'm glad to hear that. japan should not be underrated. look, we are rebuilding the foundations of the post-war alliance here where we had japan and great britain, our atlantic allies and pacific ally, put them together, you've got the foundation of a great trading bloc. the other piece of this that can't be overlooked is the usmca, the u.s. mexico canada agreement, because all three of these, britain, japan and

mexico-canada, it's about building a block against china. if we get these deals done, we are in a stronger position to get a deal with china or to get no deal with china and let them just wither on the vine and go away the way they want to go. you see, the u.s.-mexico deal has provisions in it that says mexico and canada can't make a trade deal with china unless we approve it. so you see what we're building here, what the trump administration is building here is a sphere of influence, a trading bloc that will make north america the best place to do business, the best place to invest, not china. stuart: sounds very positive to me. curtis, hold on one second. i want to segue over to the general motors strike. i want to bring in grady trimble. he is in detroit. do you have any late news -- sorry, which is now in its second week, grady? reporter: yes, today is the start of the second week. we are told some progress was made over the weekend but it's not clear how much closer the

two sides are to reaching a deal. so this is day eight that these picketers have been out here. we are told the talks resumed over the weekend. if the analysts are correct, gm has lost up to a half a billion dollars because of this strike. on the union side, they are having to draw for yet another week from their strike fund which they put aside for events like this. this is also becoming more and more political. several of the 2020 hopefuls visited the picketers over the weekend. elizabeth warren, the senator from massachusetts, was here at this specific plant and then former vice president joe biden in kansas city over the weekend. obviously they want to show the supporters that they are here for them but it doesn't hurt that they are gaining their support ahead of the 2020 election. stuart? stuart: grady, there in detroit. back to curtis ellis who knows a lot about this situation. curtis, if the general motors strike had occurred, say, 20, 25 years ago, i think the impact on our economy gdp would have been quite severe, but today, i don't

see much impact at all. >> you're right, stuart. there's two numbers to remember here. 343,000, that's how many uaw members there were in 1970 when we had a 67-day strike. today, not 343,000. it's 46,000. that's a much smaller number of people. however, if this drags on, it would multiply through the supply chain. all the suppliers for gm, they won't be getting orders. there are thousands more people employed there. remember, as your correspondent said, there's a political dimension to this. this is centered in michigan and ohio primarily, two key states for the 2020 general election. so it's being watched very closely. stuart: got it. curtis ellis, thank you very much indeed. i have breaking data on manufacturing. have we got some numbers? susan: the flash market economics manufacturing pmi positive, above 50 already, so 51 in fact for the month of

september. that's higher than the number we got in august and any number above 50 shows expansion instead of contraction which is very positive, given that elizabeth warren and others have pointed to a manufacturing recession. stuart: but we have been hearing that manufacturing has been slowing down. that's accurate. susan: depends on which number that you go with, right. this is a market economics, we have ihs and others that pointed to a number below the level of 50. don't forget, president trump has promised that he would bring back manufacturing jobs. we had the best year for manufacturing jobs in over 21 years in 2018. stuart: there is that australian company bringing 5,000 packaging jobs to ohio, by the way. private company but they are going to ohio. 5,000 jobs. all right. check the dow 30. we are still down about 40 points, a fractional loss this monday morning in the very early going. now, for the 16th weekend in a row, protesters hit the streets in hong kong. violent clashes broke out and

police issued an ominous warning. we will tell you what that ominous warning was after this. liberty mutual customizes your car insurance,

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stuart: the hong kong protests enter their 16th straight week, and listen to this. a top commander from the police

force there says somebody is going to get killed, or they're going to kill one of us, as in the police officers, these people. phil flynn -- phil yin is with us, former business anchor for china central television. phil, bearing in mind that warning and the ongoing and to some degree, escalating violence, i would strhave to sa hong kong is on a knife's edge right now. take me through it. >> you know what, it's been 16 weeks now since you and i started talking about the situation here in hong kong, and initially, the thought was that, you know, school would start up, students would go back to sto , school, protests would die down. chinese have a big celebration coming up at the beginning of next month. i have been telling you, the growing frustration among the chinese officials in beijing continues to grow. they want these individuals, protesters and they have got different names for them, by the way, to step down so to speak. that's not happening. we are still seeing violence in many many pockets, but the vast

majority of protesters are peaceful. here's what the police are doing. they are labeling them as cockroaches and terrorists and what's going to happen is that they want to just fight a potential use of force down the road if it gets to that point. this is no surprise. let me talk to you about a macro side of it. this has to do with u.s.-china relations in a big, big way, especially when it comes to trade talks. stuart: what does that mean? if we are looking towards an end game here or a real violent confrontation between protesters and police, if that were to happen, does that mean trade talks would break down? >> i think it complicates things quite a bit. i think you would get more discussion out of congress, potentially even the white house, making statements about what happened over in hong kong. trump has said, president trump has said, you know, he's talked about hong kong a number of times in the same sentence as the trade talks so we can't divorce the two, because if there's not stability in hong kong, it's less likely there's

going to be a positive outcome when it comes to trade talks. stuart: so i mean, it's difficult to say what xi jinping could do to retreat. i mean, he can't really retreat in hong kong, can he? he's got to press forward and stop what's going on. >> yeah. they have never indicated they were going to retreat out of beijing. you know, hong kong being part of china has been for a long time a foregone conclusion because of the treaties that were signed many years ago. but the one issue for hong kong is that it is a beacon of i don't want to use the word democracy but certainly a beacon of capitalism when it comes to asia, and that shining light has sort of dimmed to singapore and other cities and china wants to keep hong kong sort of part of their, in their back pocket. they're proud of what hong kong has become. they don't want hong kong to split off and go be part of something else. imagine if new york said hey, we want to spin off and be our own island in the united states, it feels that way sometimes, but

you can see the emotional dilemma that people would face and nationalism always takes precedence in china. stuart: phil, thanks very much for reporting for us. you are right in the middle of it and we appreciate it. thank you very much. i'm breaking in because we have breaking headlines from the new york fed president. what is he saying? susan: last week when you were away, this was very severe, what we call the repo markets, how people get access to short-term funding. john williams, head of the new york fed, received a lot of criticism about this. basically this morning he says that the new york fed has the desired effect basically in reducing the strain in these repo markets, especially after last week's turmoil and says the volatility now has been solved. this was a big issue. they were short tens of billions of dollars in the short-term markets. stuart: he says he fixed it? susan: for now. stuart: thank you, susan. bad news for joe biden. a new poll shows elizabeth warren has overtaken him in

iowa, and bernie sanders, well, he's kind of fading away. we've got that story for you. the mainstream media continues to ignore the booming economy. i say that's all wrong. i think the media has lost its collective mind. my editorial on that, after this. we believe your money should always be working harder. that's why your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. of the value you'll find at fidelity. they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier.

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changing the way people use reverse mortgages, and another way aag is working to make your retirement... better. call stuart: 10:00 here in new york city. we another big hour of "varney & company" coming up just for you. first off a new "wall street journal" poll find as president trump's his personality, personality is big problem for for voters. marc lotter, 2020 trump guy will respond to the poll. elizabeth warren leads in the latest poll in iowa. she has 22% of likely caucus-goers support her. 20% support joe biden. the democrats look like they're going out there to the far left. look at roku. the stock is up a little today. no it is not. it is down another dollar.

it had a huge drop on friday. i had called it the stock of the year but the launches of apple tv plus and disney plus are hitting roku pretty hard. look at it. 106 right now. we have the full story coming up. first off let's talk trade. i see two possible headlines today. a possible deal with japan may be announced at u.n. summit this week, maybe wednesday and boris johnson says a big deal with the uk is coming by july. keith fitz, as keith fitz-gerald, i've been on vacation. say it like this. keith is with us. i read your stuff and you say any deal of any kind with china would ignite a huge stock market rally. i have to tell you, keith, that at this moment, a deal does not look that likely. there is some negative stuff on china trade but go ahead, make your case for the big rally. >> well, certainly.

here's the thing, it is going to be a rip your face off rally and i don't use that term lightly because it will still hope, optimism and confidence. when you have those three things happen you have institutional traders bring on tremendous amount of volume. they want to get ahead of the next trade. companies for example, like boeing, talking about 3 1/2 trillion airline market in china alone will be off to the races. to the point this isn't immediate, don't forget how china plays the game. they want to prolong this, the longer we do, the more we turn on each other here in the united states that bolsters their case, not ours. stuart: you say any kind of deal, with china, even a small scale deal with china would set up stock market rally. i have to remind you on his way to texas for a rally last weekend the president said he doesn't want a halfway deal, the full deal, the whole ball of wax so to speak. what do you make of that. >> i think he is correct.

he needs to push for the whole deal. this has been out of control for 30, 40 years, the time to play hardball is very much now. how we define what constitutes a complete deal will have to be between the to delegations. but again, even the appearance of hey, we'll get along together now is going to set off a monster rally. stuart: because we do have in the background the trade deal with japan, the trade deal with the brits and probability that we'll get usmca through the house. maybe speaker pelosi will submit it. we'll get a vote. that looks positive. everything other than china looks positive on the trade front as of this morning? >> well it does. you know why this is so important. why china is paying attention to this. if the united states does deal with all of these other countries china is surrounded, they have to wonder whether they will still be relevant. that thought is beginning to occur to them. as you look for example what the exemption requirements were.

we exempted christmas lights, drinking straus, electric skateboards. they exempted shrimp paste, oatmeal and cancer drugs. we need it as much as they need it. stuart: thank you, we'll look for the rip your face rally. keith, appreciate it. now this a new poll from "the wall street journal" 69% do not like president trump regardless of his policies, personality. 69% don't like it. mark lottery, trump 2020 communications director. approach this head on. 69% do not like personally president trump. how do you respond? >> i think it shows you the president trump is more focused on getting things done than doing what traditional politicians more care about being liked. that this president has never made any bones about it. he wants to get the job done. whether that is on trade like you were just discussing, creating jobs, if he has to get

a little tough with some of our foreign allies every so often about maybe things like paying their fair share with nato he is going to do the things that will get the positive results. he is not necessarily as focused on niceties about getting it done. we had nice presidents before but they don't get things done. this president wants things done. stuart: i know, marc. i understand, marc, this is more than just some comments about foreign leaders, this is about the man's tone, his approach to politics. some of the things he actually says, some of the words that he uses. a lot of people shy away. i don't want this in my president. do you think it will carry through to the ballot box, that people will vote for his opponent regardless of who that opponent is because they just don't like the style and tone of this president? >> i don't think so. i think they will be focused on results. are your paychecks bigger? do we have more jobs than we have unemployed people?

are the things that presidents of the past who promised to do things like renegotiate nafta, they're finally done and getting done because of this president. so i think to a certain extent we often vote on those results. that is the case we're going to make. it is also going to be a choice because the opposition is focused on undoing all of the great things that has this economy roaring and those are the choices we're going to make. whether they are personally liked, disliked, they're going to like the results, they will want them to keep going. stuart: here is another poll from "the des moines register." it shows senator elizabeth warren leading in iowa. this is among likely caucus-goers. she has 22%. joe biden is now second with 20%. liz elizabeth warren is gaining momentum. i suspect, mark, that you loves this. >> it really doesn't matter which of the candidates come out on their side. even our pollsters expected joe biden would not be leading this race by the fall because he

is such a flawed candidate. he was in the past. he continues to be that again and, as warren rises we've seen her rising in the polls, more people will start focusing on her, all of these plans that she has. as they see how that is going to impact their lives, i'm sure she is going to fall just as well. really right now, still anybody's game in terms of the top three or so but this is definitely troubling for joe biden when he is already saying he is not going to win iowa, he is not looking good in new hampshire. at what point will he start to look good? stuart: are you comfortable with all of this talk about impeachment about the call to ukraine? >> this is, they're always trying to find something to talk about impeachment about because they can't beat the president on policy. they can't win at the ballot box as they try to take him out with some phony witch-hunt. we saw it with russia. we're now seeing it with ukraine. the real shame the actual issue

at hand whether there was influence by the former vice president and his son possibly getting millions and billions of dollars in foreign contributions and funding while his father was vice president of the united states, that needs to be looked into. stuart: marc lotter, trump 2020 guy. thanks for joining us, we appreciate it. >> good to see you. stuart: now this. the media has lost its collective mind. i was away for a week. when you look at the news from a distance it is striking how irrelevant the headlines are to our daily lives. it is obvious the media has no intention of covering issues that really make a difference to the way we live. to me your job, your income, your home, your standard of living they are genuinely important but the media does not see it that way. at the start of my vacation the headlines were dominated by

sharpie-gate. that is the one about the president altering a weather map. as a headline, that is laughable but it was a major story for days. then came the attack on the saudi oil industry. you would think the sky was falling. gas prices would spike. trump would get us into a war. it was over the top punditry dressed up as news. after that it was friday's climate strike, opportunity for high schoolers to cut class. nobody pointed out the america is the champion of carbon emission cuts. oh, no, can't point that out. now the media is revisiting impeachment because of the whistle-blower and the call to ukraine. that could rebound. what was hunter biden doing in ukraine? what a week. you would see america is mired in corruption, heading for recession and led by a man not fit to be president. hardly a word about the economy t was ignored. that is because jobs, wages,

growth and prosperity are the president's strong suit and coverage of anything positive for the president is forbidden verboten. women and minorities making huge strides in the job market. that is a real break through in america. hardly a word about it. sharpie-gate was evidently more important. what do we have today? all the stock market indicators are within a few points of all-time record highs. thank heaven investors are ignoring the media's contempt for this president. just get out there and check your 401(k). later this hour howard kurtz will respond to my take. does he agree the media doesn't focus on what really matters? next, i'm talking to the president of goya. they made a huge delivery of food to venezuela. here is the question, how do they know food is getting to the people who need it most? we have him on the show. friday, climate protests hello around the world, students given a free pass to skip school

and attend. today protesters are in d.c. with the aim of shutting down traffic. all happening ahead of the climate summit at the u.n. this week. we're following it. more "varney" after this. ♪ ♪ why accept it frompt an incompyour allergy pills?e else. flonase sensimist. nothing stronger. nothing gentler. nothing lasts longer. flonase sensimist. 24 hour non-drowsy allergy relief

all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense.

pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. stuart: the dow down 80 point in the early going on the big board 26,850 is where we are. uaw is still on strike. it is in the second week now. we have been told there is some progress in the labor talks over the weekend. general motors stock barely budging. it is at $36 a share. indonesia, they are blaming u.s. oversight for last year's fatal lion air crash.

ashley: they are. the final report won't be out until november. they say indonesia authorities determined that design and oversight lapses played a big part in the fatal crash of the boeing airlines jet that went into the java sea. they also say "the wall street journal" will find a string of pilot errors and maintenance mistake and general feeling that the plane was rasched into the process. something the faa continues to look into. this is the first formal government finding fault with the design and oversight of the plane itself. stuart: down three bucks at 376. way above the lows that was 340 a few weeks ago. ashley: yes. stuart: thanks, ash, very much. now this one, the number of venezuelans that fled their country, expected to pass the six million syrians who fled

syria. our next guest is the pot of guy i can't foods they have presented a number of amount of food to people of venezuela. what you're doing is highly commendable. how do you make sure the food is going to the right people in venezuela? >> that is a particularly frustrating thing because we've been actually threatened. we went to the white house to see how we can get food in there. it has been going in drip by drip, drop by drop. stuart: you're sneaking it in? >> we're sneaking it in. there are 2,000 generals in venezuela. it's a very corrupt system. we have to find a way around that. we have done it. stuart: you have done it? >> yes. stuart: my notes say you have delivered 180,000 pounds of food to venezuela? >> actually we wanted to deliver more. that is what we've been able to deliver up to date. stuart: you could be accused of, okay, you're feeding the people, that keeps the military and the government, the communist government in power, you could

be accused of that? >> the venezuelan government does not want the aid. they want to keep oppressing people, like up to date, there have been 3.6 million people that fled the country, into the people that can into colombia. putting a burden on those countries, just as some immigrants are desperate put burdens on other countries when they migrate into columbia, into brazil. those that can have left the country into florida, texas, into panama, dominican republic, spain and unfortunately capitalism is most cowardly. the first thing to leave is the capital. those that leave that are connected and they are fleecing the country out of tons and tons of money. stuart: we've been waiting for the endgame here and it hasn't happened. >> no. stuart: he is still in power. the military is still in power. >> there is so much profit involved in drugs. that is what motivates the

country there. basically drug runners. stuart: you're doing something really a wonderful thing, you're a good man, a good company. what are you doing in the bahamas? >> the united states is the second largest latin country in the world. we're, as an international company we're part of a world community and so from our very beginnings we've been giving back. we just got a request also from honduras, people have been pushed back to honduras, rightfully so, are looking for, through catholic charities and others, donations. so it is part of our dna. not in particular the bahamas. we give back as much as we can. and we're very thankful for what we have. so it's a way of giving back. stuart: congratulations i think you're doing the right thing. thank you for coming on the show to give us good news. we like that on a monday morning. >> thank you. stuart: appreciate it. i have known about this for some time. a lot of college graduates move

back in with their parents. the obvious question, why are you doing that? because back in my day, kristina partsinevelos went on campus and got answers for us. they are good answers. wait for that. cannabis in california legal in california. why is the black market in cannabis still flourishing there? we have answers for that one next. ♪ devices are like doorways

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26,800. look at nissan. the sec is suing former nissan chief carlos ghosn about undisclosed compensation. it makes no difference to the stock. it is up one cent. we knew this already, but it is fun to talk about. a lot of college graduates move straight back in with mom and dad. i want to know why. kristina partsinevelos joins us. you asked that question on campus. reporter: i asked that question on campus. this is the second installment of ask kristina on campus. audience can decide when they watch the video. surveys highlight rising level of student debt, $1.6 trillion. there was another survey from northwestern mutual, the average level personal debt is $28,000 due to credit cards. millenials want to maintain the experience. we're all about experiences. another recent survey came from

ugov. they interviewed more than 1200 adults, millenials the lonliest generation. 30% say they were often or always lonely, compared to baby boomers at 15%. younger generation-x, 20%. i went to columbia university here in new york university and asking millenials what makes you stay at home longer and do you feel it is justify to pay rent to your parents. listen to what they had to say. ♪ do you think a lot of the younger generation is living in the home past 30 and just staying in their mom's basement? >> i recognized that trend, yeah, that's true but if it is allowed by the parents why should it not be allowed? >> my generation is having the most difficult time actually affording living. reporter: how do you feel about the younger generation staying home a lot longer not paying

their parents anything? >> i guess like guilt. i do that. i feel a little bit guilty. but at the same time if my parents would ask me to pay rent i would be outraged. >> i think it is parent right to decide whether that is something they have to do. if they say pay rent or get out, that is also right. >> i don't have a lot of savings. i don't think that it is fair. i think it is more difficult than ever for people who are like 22 to live well on their own. reporter: you're admitting the younger generation could be potentially more entitled yet you're not changing? >> no. i'm taking advantage of it. >> i think we work just as hard. i think less opportunities are available. >> it's a little difficult to say. i'm thousands of dollars in debt. let me pay 3,000-dollars a month in rent. >> i'm, like mainstream productive things. reporter: what is mainstream, productive things? >> like get a job. stuart: i picked up on what the

young lady says there they wants to live well. reporter: live well. maybe in her mind that is not having lots of student debt, lots of credit card debt, having to live with three roommates in your 30s. often the case for elder millenials that live in major metropolitan cities. the rent is so high. you tack on student debt. stuart: i understand student debt is a huge problem. 1.6 trillion in the nation that is gigantic. after sent that, don't youngsters want to get out there? >> they have jobs, a lot of them say they can't afford rent in metropolitan cities, education and just, you know, getting about. stuart: i will leave it at that. >> living well i would say. stuart: before my head explodes, kristina on campus, that was great. next case, it was all about streaming services at last night's emmys. two amazon shows won big awards. according to our next guest the

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♪ sweet dreams stuart: mccartney had a good voice. he still has a good voice. he is in his late '70s. that was a good song. did you play the beatles while i was away? ashley: we did indeed.

revolution, finally. one of my favorites. it was great. stuart: here is a british company, a big one, it has collapsed. thomas cook is the world's oldest travel company, totally collapsed overnight. that left travelers stranded a lot of them all around the world. ashley: 450,000 international travelers who use thomas cook elsewhere around the world. operation matterhorn is now underway. this is the uk government attempt to try to find a way to get these people back to their homes. flight just left jfk, a british airways plane was used. 300 people got back to manchester. this will take a number of weeks. it was a huge hit by the way for a lot of companies rely on tourism, where thomas cook was a big creator. island of create, said this official said it was like 7.0 earthquake. this is huge.

we'll lose so many people. turns out people can book their own flights and hotels online. that was the problem for thomas cook. now they did have 48% of their bookings last year were online. people were doing them on line. they were hiring high street travel agents. that was 1970s, '80s. they had 500 of them. they have been so slow to adam. they have been around since 1841. 178 years t has gone kaput. they tried to get a bailout. the bank said enough is enough. they are in liquidation. planes that were lease have had been confiscated. this is a disaster. stuart: i missed the high street travel agents. ashley: with the wonderful posters in the window. stuart: do it all for you. susan: there is a thing caughted internet. stuart: sarcasm is low form of wit, young lady. susan: look at yourself. stuart: i hear somebody

seconding that. the mem -- emmy awards. it was all about streaming. amazon's "flea bag." this gave prime a second victory. what was the victory of streaming last night? susan: amazon cleaned up in the comedy category as you pointed out. hbo had 34 emmys all along. they had "game of thrones." most nominated tv series. they took home nine emmys. stuart: will they stream in the future? susan: probably. hbo max is coming. chernobyl, netflix won four awards. think had 27 awards all along. netflix spent $15 billion on content last year. so probably the most spent from any service in terms of content of the evening. if you think about it, look at the streamers. they're winning the awards. they have the best tv series. now it is all going on demand

for you, whether hbo max, whether it is netflix, disney plus is coming as well. nbcu has peacock and apple apple t you have what you want. stuart: i binge-watch and streaming. ashley: welcome to the world. susan: it's a trend. stuart: i want to know who will be the gorilla in the streaming patch? ryan battle with the drucker school of management is the senior fellow there. he is smiling because he is going to tell us who the gorilla is in the streaming patch. according to his opinion. who is it, ryan? >> as of right now there is not the gorilla yet but two you have to can't ignore. one is apple who is slowly getting into this. they haven't been jumping into it with content. then what you are going to have to watch, all eyes are on, disney plus. because disney is going to make a huge play, be able to go after all the verticals with the

consumers. obviously netflix will take a hit. they have such brand loyalty. this is different from other streaming services because new streaming services like netflix took time to get people to watch live streaming. now streaming is here. now when you can come up with a consumer base you cannot ignore both apple and what disney is going to do. stuart: hold on a second, ryan. you have got to tell me, you think it is disney, they're the, they're the big guys on the block? they're the big winners? that is your opinion, correct, disney? >> they're not big winners yet but i think they will be. stuart: do you think it will increase the price of the stock? >> oh, this is why they're doing it, stuart. they want more top line. this is where, you think about what streaming has done right now, which is just monthly subscription. think about disney's overall reach in the world. they can get you bundled however they want to bundle you. they are at the amusement park.

they can catch you with credit cards, catch you wherever. the way they increase their subscription model to this, this is pretty large potential. stuart: ryan, hold on a second. i will segue to another streaming story. this is about roku. they're a streaming box. as i understand it, susan they have got competition now. susan: the stock fell 30% in the last week. this is the worst time for the stock since 2017. pivotal research says sell the stock. it will reach $60 from current $109 price. why you ask? competition. comcast will offer free internet streaming box to customers. apple tv you can watch apple tv on. roku has 40% market share. amazon is the next largest competitor. maybe people will buy more apple tv in the future. stuart: ryan, back to you in a

second. if there was some kind of a china u.s. trade deal, are you saying that will be a big deal for apple, they would really benefit strongly? >> i think apple doesn't want -- what i'm saying apple does not want to have this trade war between china and the u.s. overall for its healthness of the company. i think apple done a lot of things in china with manufacturing. plus the consumer base is growing especially in asia. this is something they don't want. this is why they want the trade war to go away. you see ceo tim cook being vocal, working with the administration, having meetings with president donald trump to insure that things kind of go smoothly. stuart: ryan, we would all love to see a u.s. china trade deal of any kind. i think it would do the market a lot of good. facebook chief, mark zuckerberg, he was on the hill last week. ryan you say these meetings won't be the last? >> they will not be the last. you remember this, when the data

scandal happened last year, everybody was saying, well mark zuckerberg is not going to go in front of congress. he has never done that before or be able to share everything. what happened since then? happened every time, meetings with every government around the world, those that want to do more business. this is setting a precedent, ceo's will be held accountable for data information management in the u.s. and e.u. this is not just for the citizens but everybody. seems they have gotten used to it. they have been well-prepared, every meeting you have seen they have been at. like i said, this is an opportunity for the public to be able to see what is going on. i talk about the streaming wars, about content is king. content is not king. content is everything. this is including your data as well. stuart: that is very true. ryan, thank you very much for joining us, sir. see you again soon, thank you. remember this, schoolkids in new york city given a pass to

attend a climate strike on friday. today climate protesters are rallying in d.c. with the intention of halting traffic citywide. i say we're at odds with the rest of the world on the climate change thing. i'm asking mark morano about it. president trump attended a rally in houston, texas, with india's prime minister. it was historic event. upwards of 50,000 people attended. will they vote for president trump come 2020? we'll ask the question after this. ♪ ♪ ♪

♪ they give us excellent customer otservice, every time.e. our 18 year old was in an accident. usaa took care of her car rental, and getting her car towed. all i had to take care of was making sure that my daughter was ok. if i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. we're the gomez family... we're the rivera family... we're the kirby family, and we are usaa members for life. get your auto insurance quote today. stuart:down 50 points on the dow industrials. that is .19%. generally flat to slightly lower across the board.

look at overstock.com. whoa. when you do that the stock falls out of bed. overstock.com is falling out of bed. down 14%, two dollars lower at 12.86. climate change protests around the world. today in d.c. protesters trying to shut down traffic in our nation's capital. the u.n. holding the climate change summit ahead of the general assembly this week. mark morano climate depot founder. let me come at it like this. >> sure. stuart: seems to me the rest of the world is at odds with america on climate change and we are at odds with the rest of the world on climate change. >> there is truth to that partially but before i go there, parts of canada, particular western canada, poland, brazil, there is coalition of countries italy and europe are rejecting the net zero. there is climate protest

fomenting. stuart: net zero? >> net zero emission. stuart: reject that. >> the old eastern block of the soviet union. soviet union dominates companies are rejecting that. the answer to this question. we've always been at odds for simple reasons. when someone propose as u.n. climate treaty or almost always central planning, massive government regulation. europeans are not opposed to that. they don't bother to challenge the science or look at the reason why it is being forced on them. in the united states, we say wait a minute, what? you look at the science. the science doesn't hold up. even if you believe the science the solutions like "green new deal" don't have any impact. even according to their own models. 100 years from now you can't tell the difference. that is why america is more skeptical. we have the american attitude. see it on guns and other things as well. we reject that kind of government control over our lives. stuart: do you think that the solutions that the solutions to

climate change are still popular in europe? europe is suffering from the so-called solutions? >> seniors are suffering. in the uk winner deaths have increased. it is raising costs of energy across the board. germany is struggling with it. we're doing better in the united states than the european signers who will be at the u.n. summit shaming president trump. we're leading the world in coo 2 emissions. stuart: nobody ever points that out. america has done more to cut co2 emissions that than any other major economy. >> it is chiefly through fracking. if we faced a climate catastrophe, the last thing you want the you know says centralized transformation that will make life on plan "earth" earth very different. a direct quote from the u.n. climate chief. you want technology, innovation, free markets competing f al gore is right, there is a lot of money to be made in solar wind, all that, great, let on the ons make it.

if we go to walmart, buy a solar panel, get off the grid, we can stop the nonsense about the "green new deal." the point he is not right about it. this is using the climate scare to get political agenda they couldn't otherwise get. that is why they're using kids as human shields. stuart: before we close, do you believe human activity is contributing to the warming the planet? >> key word is contributing. humans can warm the planet, we can cool the planet. i think we have a impact, but it is not distinguish from natural variability. european scientists says we won't notice the difference without modern instrumentation. we're not the control knob. that is the difference. these kids are testifying before congress saying they have no future unless we can essentially kill the market economy in the united states and impose a central plan on us. that is what they're testifying. stuart: that really got to me, children, they are very young kids, who are making grandiose statements, words put into their

mouths by adults. >> it is sad. they had a die-in for the kids, greta turn berg, went to the white house. they had kids lying down at the white house gates 11 minutes to symbolize 11 years the planet is death. unless government saves it to legislate storms and weather. that is really dark day for the movement when they turn to kids like this as human shields. stuart: mark, thank you for joining us. see you soon. >> thank you, stuart. stuart: breaking in, we have breaking headlines coming from our own charlie gasparino. according to wall street sources his sources there is a consensus forming among the democrats and gop regarding regulating big tech. they say some of the regulations could force the breakup of some tech companies. and cost investors tens of billions in losses. these sources tell us, tell charlie, the lawmakers are looking at a range of issues including privacy, national security, and antitrust, tax

avoidance. we're told that google is seen as a primary target given its size and scale. that is quite a breakthrough. ashley: sounds very european to me, does it not you? very european we are looking at it. we know the massive tech companies are under antitrust investigation but to take a blanket position as a platform, that is interesting from the democrats. they have all said that individually but not as block. stuart: that is different. susan: department of justice, state attorneys general, most of the 50 states are on board with this, a bipartisan agreement that we need to do something about regulating big tech. whether breaking them up, pushing them further in content moderation. it really requires the department of justice to get on board to say, okay, this is official. we have to look into this. stuart: we heard a lot about this going after big tech. ashley: yeah. stuart: been in the news at

least a year. susan: at least. stuart: at least, you're quite right. the stock price of these companies has not been dramatically affected. susan: facebook is up 40% this year. google up similar levels. no, i feel like the markets are not anticipating anything with teeth at least. stuart: it is years down the road surely. ashley: it is all about the business model. you take away the business model, that hers the bottom line. that has impact on the stock. stuart: yeah, it does. if you stop, the googles of this world, facebooks of this world making that kind of money -- ashley: right. stuart: if you stop them doing that, you restrict their profitability down the road you will hurt the stock price. no question about it. that will get hit. susan: google is part of the department of justice investigation. google is a lone monopoly with 90% of search. they have combined to have 75%

of the online advertising market. there is a lot of heft for these technology giants. stuart: a moment ago we showed you video on the left-hand side of the screen of people going up is escalators. producers was that at the united nations as the general assembly gets going there? they're all assembling as we speak. there will be a lot of speeches from world leaders this week. president trump is not there today. i'm not sure when he gets there. he is attending on wednesday. i'm not positive about it. wednesday is the the day when neats japan prime minister and they will work out a trade deal. that comes wednesday. but right now they're all assembling in the u.n. building downtown new york city, a mile away from us right now. the dow industrials are down 50. the s&p is down four. the nasdaq is down just a little. we're flat to lower all across the board this monday morning. the dow is off 52. we'll have more after this.

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stuart: back to my editorial i released at top of the hour. listen to this please. >> recession jitters. president trump said to be rattled as economic alarm bells cause a wild week on wall street. >> there are indicators that the u.s. could be headed to a

recession. >> there are some rough waters ahead. maybe a recession. >> we're on the cusp of a recession. >> about time we get a recession. >> not worried about a recession. >> yield curve has inverted, before every u.s. recession since 1955. stuart: gee, looks like they wanted a recession. that is just my opinion. howard kurtz with us, host of "media buzz." howard, i've been away for a week and looking at news from a distance, what do i see? i see talk of impeachment, of sharpie-gate, impending recession. gas prices will go to the moon because of the attack in saudi arabia. not a word, not a word about the booming economy, the job market, wages rising none of that. only stuff which is bad for president trump. what's going on? >> well, i will take issue with some of what you said but i will agree on this point, right now the media have taken a time out talking about the economy because they're obsessed with

the ukraine controversy. when the stock market slid from 27,000, down to the 25,000 range there were a lot of articles and talking heads, this is it, the bloom is off the rose. trump can no longer brag about the stock market. now that is quietly rebounded to 27,000 or slightly below, i'm not seeing many stories about that. there was certain delight the trump stock market commonly now called, taking a brief dive. stuart: do you think the media will get its reputation back? because, seriously, howard, i don't see them as objective, i don't. i think they're wildly subjective. that is not restricted to the editorial pages. it bled over into every aspect of news coverage of our media organizations. >> look, media credibility is at an all-time low. i wrote a book saying that the coverage of donald trump being so over the top, so negative, so relentless is greatly contributing to this loss of

confidence in many media analysts. "new york times" kavanaugh story i broke on my show last week the latest example. when it comes to the economy, normally after eight or newspaper year expansion and certain warning signals you would have talk, a whole industry on wall street devoted to predicting what is going to happen down the road. nobody is not saying economy isn't really strong right now but it its fair to look at some possible indicators it could finally slow down. stuart: howard, i don't think i'm going to convince but nonetheless i'm sticking to my guns. always a pleasure. thanks for being with us. just a few moment asking, i made a mistake. president trump arrived at the united nations. i said he wasn't there he is there. listen to this, please. >> we're doing very well with the economy. some numbers came out that are fantastic. our economy is better than anybody's in the world. it has been for the last two years. as far as a meeting is concerned we'll see what happens.

[shouting questions] reporter: raise your voice -- [inaudible]. i'm very thankful for reporter: are you concerned about [ inaudible ]? >> i don't know what you're saying. reporter: how seriously are you [ inaudible ]? >> not at all seriously. we had a perfect phone call with the president of ukraine. everybody knows it. it's just a democrat witch hunt. here we go again. they failed with russia, they failed with recession, they failed with everything and now they're bringing this up. the one who's got the problem is biden. as you look at what biden did, biden did what they would like

to have me do except one problem, i didn't do it. what biden did is a disgrace. what his son did is a disgrace. the son took money from ukraine. the son took money from china. a lot of money from china. china would love to see, he could think of nothing they'd rather see than biden get in because they would take this great deal we're about to make and they would really have to sell -- let me just tell you, let me just tell you, what biden did was wrong. reporter: did you speak with the ukraine yum presideian presiden at any time? >> when we deal with a country we want honesty. i think with the new president you will see much more honesty in the ukraine. that's what we're looking for. we're supporting a country. we want to make sure that country is honest. it's very important to talk about corruption. if you don't talk about corruption, why would you give money to a country that you think is corrupt?

one of the reasons the new president got elected is he was going to stop corruption. so it's very important that on occasion you speak to somebody about corruption. very important. [ speaking simultaneously ] reporter: when are you going to meet with kim jong-un? >> could happen soon. could happen soon. it could happen soon. stuart: that's the president entering the united nations there. he's going to give a speech on religious freedom. he's attending a meeting on that subject there. he was saying look, not taking impeachment seriously, he regarded it as a democrat witch hunt. this is all about the call to ukraine's new president. he says it's a democrat witch hunt. they -- there are the one who's

got the problem is biden. okay? pretty contentious stuff. the president right there being flooded with media questions. he answered some. he said be quiet to somebody else, then goes on with the one who's -- ashley: he will meet with iran's rouhani and says we'll see what happens. stuart: he says this a lot. it's a way of deflecting. we'll see what happens. there you have it. there was the president at the united nations. now this. aaa reports today that the average price of a gallon of gas is $2.66. that's pretty cheap. we should all say thank you to america's frackers. if it weren't for them, the price of gas would be closer to $5 a gallon or maybe more. the climate warriors, senators warren and sanders in particular, should think very carefully about their proposed fracking ban. here's the story. last week, an attack on saudi

arabia knocked out about half its oil production. that's a big deal. today, engineers say it would take months to restore full production and yet the price of oil is way below $60 a barrel, and gas as we said holding steady at $2.66 a gallon. here's where the frackers come in. they are pumping enough oil to make up the shortfall. that's why oil and gas prices have barely budged. if the attack had happened five years ago, it would have been very different. $5 gas, surely. if it were to happen sometime in the future, when a president warren or sanders would have banned fracking, the sky's the limit for your energy bill. this is actually another big win for the president and for america. it is this president who has consistently expanded drilling, it is this president who declared a policy of energy independence and dominance, and it's working. that's why attacks in the mideast oil patch just don't

count the way they used to. the third hour of "varney & company" is about to begin. stuart: i want some reaction to my editorial. get that in a moment from senator bill cassidy, republican from louisiana, a big fracking and energy state. warren and sanders want to ban fracking outright. we will talk more about that. first, though, we are watching your money. the market shows a loss of 30 points now, slightly lower all across the board. bob doll is with us, chief equity strategist at nuveen. i say politics doesn't really matter that much to the market these days. what do you say? >> yeah, so far you're right, stuart. i think all these back and forth issues, ukraine, biden, trump, the whole bit, the market's kind of yawning and moving on. i do think, however, the market's paying attention and

will pay more attention to if we get a progressive democrat and the labor issues that are brought in, the higher taxes, the market won't like if we reverse the corporate tax cut and the low regulatory environment. that's been a big tailwind to the equity market over the last couple years. we have to watch this one carefully. stuart: we are looking at senator elizabeth warren and this new poll out of iowa. it shows she is now in the lead, leading over joe biden in that state. this is amongst likely caucus goers. she's got 22%, joe biden, 20%. bernie sanders is fading there, down to 11%. that's what you are really talking about, isn't it. then there's this wall street or this barron's headline, wall street is worried about elizabeth warren, it's right to take her seriously. so you do believe if it looked like elizabeth warren were even close to winning the presidency, this market would come way down,

do you think? >> i think the market would really struggle because if she does what she says she's going to do, raise taxes, put a wealth tax on tax financial transactions, i mean, a republican senate can check a lot of that, but the market will be worried if it looks like we are going to have a president warren. stuart: in the meantime, do you get the sense that the market really does want to go up? we are very close to all-time records on the dow, s&p and nasdaq. >> yeah. the way i phrase it, it's amazing how resilient the market has been when we have thrown so much at it, and a lot of question marks and negative issues, global growth, where's the fed, who knows what direction, concern about earnings for next year, but the market hangs in there brilliantly. stuart: now, many of our viewers are investors. many of them have made a great deal of money in the market over the last couple of years. would you say to them sell a

little bit of what you've made and hold the rest, or would you say keep putting more money into the market? >> it depends, obviously, where you're coming from. if you have been in this for the bull market and have a lot of your net worth in, taking a little money off the table at this stage, i don't think is a mistake at all. let's put it this way. if the market goes up, the pace of increase is likely to be a lot slower than the last ten years. it's going to be more like the last 18 months, where markets have clawed and scratched and gone up just a little. i think that's more the environment we're in. stuart: bob doll going right at it, thank you. we appreciate you being with us on a monday morning. >> all the best. stuart: apple teaming up with oprah winfrey to create a worldwide book club. tell me more. ashley: it will be on apple tv plus. oprah's book club now going streaming. she will be interviewing an author and there will be a new episode every two months.

this will debut when apple tv plus debuts in november. big get for apple. oprah's book club is huge on her own show. bringing it to the streaming service is just another -- it's all about content. this is good content. stuart: it would be a huge win for any author who is featured by oprah on apple. ashley: can you imagine? stuart: no, i can't imagine. maybe i should write a book. next one. we better take a look at tesla's stock. why don't we. the company's board, board of directors, wait for it, they've got to face trial over elon musk's multi-billion dollar pay package. susan: they are going to trial for this. it's unbelievable. i'm not sure i have ever seen anything like this, to tell you the truth. there was a shareholder very angry at tesla and this $2.6 billion pay package that was approved by the board for elon musk. with certain conditions, that could have swelled to as high as $70 billion. that shareholder says that is unjust, it's biased and it's

corporate waste. he sued. a judge is saying that lawsuit can go forward and now the board has to stand trial because of that pay scombrpackage but it's award, not compensation elon musk has received. it's something he could achieve and receive if the company achieves certain milestones. stuart: it's a gigantic waste of money. lauren: absolutely. and what comes out of this trial? also, executive pay right now is a lightning rod. stuart: yes. but if this goes through, we will find out a great deal more about tesla's finances which we don't yet know, and why musk would get $55 billion if they hit certain targets. lauren: exactly. stuart: i can see the point of that. otherwise, i can't. there you are. next one. nearly 50,000 people gathered for what president trump described as a profoundly historic event in houston, texas. one of the largest ever crowds for a foreign leader in america.

we are talking to go pac's chair. does this help the president in 2020? that was president modi. prime minister of india. ashley: howdy modi. stuart: if you missed my editorial, i said gas will be at least $5 a gallon, maybe more, if it weren't for american fracking. what does senator bill cassidy say? i ask him next as the third hour of "varney" rolls on. ♪ you wouldn't accept an incomplete job from anyone else.

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stuart: i have several corporate stories for you. let's start with walmart. they are no longer going to sell e-cigarettes. now, the stock is up, too. when do they stop selling? ashley: when they have sold out their current inventory, they will finish completely. they are not going to restock.

listen, they made tobacco available to only people over the age of 21 back in july. taking a strong stand on this. for the vaping industry, this is not good. i mean, this has had such rapid growth but of course, now there are all these health concerns. walmart saying that's it. once we sold out our current inventory, we're out. stuart: takes a hit. the vaping industry. ashley: it does. stuart: all right. facebook suspending tens of thousands of apps over privacy issues, and the stock is down nearly 2%. lauren: because the privacy issues are probably wider than a lot of people thought. on friday, mind you that was the charm offensive week for facebook's mark zuckerberg meeting with law makers on capitol hill and the president himself. friday night, facebook tells us as part of the cambridge analytica investigation, tens of thousands of apps were suspended additionally from 400 different developers because they invaded your privacy. they shared your data. they made that data public, they didn't protect your identity.

stuart: by going to that third party my information was shared around and we don't want that. lauren: of course we don't want that. that's one of the issues of all these hearings and meetings. look, you do all that and look at the optics of it. all of a sudden, you are announcing new news that oops, it happened again. stuart: we had this kind of negative news on facebook before. it didn't affect the stock. did today it did. lauren: there are growing calls for mark zuckerberg to be held accountable here. stuart: he did meet with the president and wore a suit and tie for that meeting. lauren: very nice meeting. no hoodie. stuart: i want to get back to my editorial, top of the hour. i said gas would be at least four bucks a gallon now if it were not for american frackers. that's quite a statement. senator bill cassidy, louisiana republican, is with us now. mr. senator, you are a fracking state. you are an energy state. am i right that if it wasn't for fracking, we would have $4 or $5

gas now? >> are yyou are absolutely righ. not just the united states but elsewhere as well. i like to say in 1973, opec put the world's economy in the tank and now this year, fracking has filled the world's tank. we are able to, if you will, push back on the iranian threat by being the swing producer for the world. stuart: saudi arabia's oil business was intact. they had lost half their supply and the price of oil and gas barely blipped because our frackers, your guys in louisiana, were filling up the barrels of oil. >> we have so much more we could actually develop. there's been some kind of okay, we can't develop yet because the price has not risen adequately. if the price happens to stay up a little bit longer, i can tell you those resources will be developed, we will continue to fill up the world's gas tank. stuart: why don't we, america, why don't we get any credit for lowering carbon emissions more than any other industrial country? >> first, you are absolutely right. since 2005 our absolute

greenhouse gas emissions are less even though our economy is much larger and we are -- we have many more people. other countries which have lowered greenhouse gas emissions have done so by using more natural gas. but it goes against the narrative of the left. that you have to do away with carbon. i have to say, we are on a lucite tabletop. you could not produce that without having fossil fuel production. so when people say they want to do away with fossil fuel, what about the lucite? not to mention your gas tank. stuart: wouldn't you think senators warren and sanders would say wait a minute, if we ban fracking, and they want to ban fracking, we would have astronomically high gasoline prices and natural gas prices to heat your home. aren't they looking at that? >> when president obama first ran he said something to the effect of you will have to pay higher energy costs in order for us to achieve our goals. by the end of his

administration, he was complimenting fracking because it's the only thing that buoyed the economy up in the midst of the great financial crisis. so i think that although warren and sanders want to get their base out by saying that we don't need fracking, every time the iranians bomb something in asaui arabia we are we minded how much we do so for the world at large. stuart: what would happen if elizabeth warren, senator warren, is the democrat nominee for the presidency, could she win louisiana? >> no way. stuart: interesting response. >> think about it. i think president obama actually did a tremendous disservice to the issue of decreasing global climate emissions because if somebody comes to you and says of necessity, you are going to lose your job and pay a higher energy cost just because we want to make a symbolic gesture but our symbolism is going to send your job to china, what would

you do? stuart: i understand. >> totally. here, elizabeth warren is going to cut down on the amount of natural gas being produced even though natural gas production is what is driving lower greenhouse gas emissions and of necessity you will lose your job all because i want to win the presidential primary. the heck with that. i think people across the country, the more they know about that, will say the heck with that. stuart: is louisiana one of those states which has a port which is exporting liquefied natural gas? >> we probably have more ports than any other place, maybe, maybe the western coast of australia. when president trump came down it was so nice, he had people stand up, working people, to talk about how this job had changed their life. how the coverage they had through their insurer because they had this job building the lng export terminal, or they were building the pipeline or they were doing the fracking, allowed them to get better coverage to manage their wife's breast cancer or something like that, so it is a tremendous economic driver for working americans who are left behind by

the obama economy but who are enjoying the fruits of the trump economy. stuart: senator cassidy, i hope you attend the climate summit at the united nations. >> i will do that. stuart: senator, thank you, sir. appreciate it. thank you very much. the car companies have just unveiled a new luxury yacht. this being the 11:00 hour, of course we will tell you how much it costs in just a moment. this is the world's blackest car. a bmw x-6. it's so dark you can hardly see it at night. so i'm told. i promise you we will be back. ♪ fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely...

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stuart: just a few moments ago we showed you the latest from lexus, not a car, but their flagship luxury yacht. this being our 11:00 hour, the obvious question is how much? ashley: 500 bucks. no. $3.6 million. 65 foot long, has the supple

leather you find inside a lexus vehicle in the captain's chairs and sofas, has three staterooms and sleeps six. this is a luxury yacht. they have the very nice cars but this debuts on october 30th. stuart: in america. ashley: in america. i think this is, you know -- stuart: it's not their first yacht. they have made others. this is their top of the line luxury. ashley: top of the line luxury one. stuart: $3.6 million. ashley: in the yacht world, it's pretty good. stuart: a steal. okay. another thing we showed you moments ago is what's described as the world's blackest car on the screens. that's the bmw x-6. tell me more. lauren: it's $65,000. it doesn't reflect any light, basically. so you just see that. it's stealthy, like looking down a black hole, says the company. how do you see it at night? stuart: is that a good thing?

lauren: i would be scared. but they are trying to use this technology in the paint in a stadium. how cool would that be? stuart: i think they have a liability problem. i digress. nearly 50,000 people gathered for what was described as a profoundly historic event. it was in houston, texas. howdy modi for prime minister modi of india. he was the guest. it was one of the largest ever crowds for a foreign leader in america, ever. does this help the president win texas in 2020? good question to ask. right now, the market has turned around. we are up 13 points. we were down much of the morning. now we're up 10. wall street veteran mark grant's with us. he said a few weeks ago that interest rates were going to zero. what is mark grant saying now? he's next. ♪ at fidelity, we believe your money

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stuart: well, i've got to say that the turnaround is holding, barely. we were down for most of the day but now we're up nine points on the dow, 26,944. earlier we brought you

breaking headlines from charlie gasparino. his sources are telling him there's a consensus forming among the democrats and the gop regarding regulating big tech. some of these regulations could force the breakup of these companies and cost tens of billions of dollars. we are also -- he's also told that they are focusing on google because of its size and scope. charlie gasparino in the studio with me right now. first of all, if in 2020 the democrats win full control, they run the table, you're saying this is a sure thing? >> they are going to get broken up. i have sources on wall street that deal with congress. what they are going to do in terms of regulation. you probably know a little bit about this. if the democrats win, the consensus among the democrats is break up, break up google, break up facebook. google at the top because they think, these are the four areas where they are worried about. privacy, national security, believe it or not, antitrust

obviously, and tax avoidance because they all avoid taxes. they think they're too big, too powerful. here's the scary thing if you are an investor. i'm telling you, investors are not taking this seriously and wall street advisers that are dealing with this are saying, look at that, stock's up. stuart: you are talking a situation where the democrats run the table. >> yes. stuart: now that frankly is unlikely. suppose it's a split decision and republicans hold the senate. >> the only thing where they disagree on, both parties, is on the breakup. republicans won't let them get bigger. antitrust may go after them, probably will. trump sees a lot of mileage in this with voters. so even then you will be facing a lot of damages. i don't think the market is taking this seriously. clearly the companies aren't. they think they're just going to pay, google has like $5 trillion laying around. they think they can just hand it out. huh-uh. this is going to be unrelenting, constant and i'll tell you, it's a political year. they are easy boogeymen.

a lot of wall street guys are worried about elizabeth warren, they will screw with us, and she will. she will go after big tech even more. that's what a lot of sources. david cicillini is focused on those four issues. the democrats are a much difficult road to hoe. republicans are no bargain either. they agree on those four issues. there's a lot of agreement except for the breakup. the republicans aren't quite at the breakup. but who knows. trump is unique. he may turn around and say hey, amazon, what did he call him in the past? stuart: bezos. >> you want to break up the company. stuart: good story. thank you, charlie. appreciate it. >> i don't see you enough. that's why you don't remember me. i do try to avoid work. stuart: this is work. i want to talk about interest rates. on your screens now, the yield on the ten-year treasury 1.67%.

let's bring in mark grant, who has had a lot to say about interest rates recently. i want to know what he's got to say about it today. welcome back to the program. you said on our show consistently that interest rates in america were going to zero. well, that's not happened, you know, right now. in fact, we've gone right back up again. what's your prediction now? >> well, i said for several reasons. one, we have $17 trillion in negative yielding bonds in the world, mostly in europe. two, because you can't get any yield in europe over a period of time. i didn't say they were going to zero tomorrow. over a period of time they are going lower. i don't think we should go less than zero but i think we can go less where we are now and also the ecb just came out with an announcement, they are making pixie dust money again, quantitative easing, and they will be buying $22 billion a month more of sovereign debt and corporate debt in europe.

the push is on for us to go to lower rates. sure, we talked last time, we were up 10 or 15 basis points but now we are starting to go back down again. it's over a period of time, stuart, that we are going to lower interest rates. i call it borrower's paradise. stuart: i understand. you're saying it's the europeans and japan as well, europeans, swiss, japan, they are the ones who are pushing our rates down because they are pushing their rates so far down that we have to lower ours as well. that's your theory here, right? >> yes. we have to be competitive. i think the fed has to stand up. i don't think we should go to negative rates but i think we need to go down so that the ten-year is some place between a half a percent and 1%, just to protect american interests. you know, the fed as we discussed once famously on here is the central bank of the united states, not the world, and the fed's got to protect

american interests. that's my opinion. stuart: when do you think the slide down starts? >> i think the fed at their next meeting hopefully will cut rates again. i think the people at the fed will begin to realize that we have to compete and by the way, this also has to do with the dollar so we've got a currency issue with the european union, we have a yield issue with the european union so we have a game of thrones both with china, which everybody is focused on, and with the european union which nobody is focused on. we have a game of thrones going on with both of them. stuart: i follow the dollar very closely because i'm interested in the australian dollar which is all the way down to 67 u.s. cents as of today. that's the strength of america's king dollar. mark grant, thanks as always for being with us. we will see you again soon. that's a promise. president trump in houston, texas last night.

not for one of his famous rallies. no, no, he was with india's prime minister, narendra modi. about 50,000 people showed up. david avela, go pac chair, with us now. you think that 50,000 people turned up for a rally, it was called howdy modi. does that help mr. trump win texas? >> trump is going to win texas whether he attended that event or not. it does speak to how popular modi is. and the president being there and getting the cheers that he did is certainly good. it also underscores the impact the president has with foreign leaders. the fact that modi would invite him to come to his rally here in the united states and the relationship -- stuart: that was prime minister modi who invited president trump to the modi rally. it was that way round? >> certainly that rally was for him and the president went and spoke, but it underscores the key relationship the two of those have because india does

have a key strategic and military alliance with the united states, and just their location makes them a key partner for us. the fact the president was there and the warm greeting he got and the cheers he got for his message is important not only for him but also the u.s./india relations. stuart: prime minister modi is holding discussions and talks with american energy executives in texas, and america's energy capital. there may be some exports of our fracked natural gas to india. that's interesting. >> a trade deal would be outstanding and would underscore every time the president is underplayed on the world stage, he exceeds expectations. this could be another one where the u.s. is now the cheap exporter of energy across the world, perhaps we have another deal in the making. stuart: i did find it fascinating to see a foreign leader on american soil, hand in hand with our president, being

vigorously cheered across the board. we're not used to that, are we? >> we are not in today's times. no. stuart: there you go. david, thank you very much for being with us. always appreciate it. thank you, sir. i'm going to change the subject completely. where are we? there you are. i do this a lot. the "downton abbey" new film upset big franchise titles this week at the box office. how much did it make? lauren: number one, $30 million. my mother told me she went on friday when it came out. in second place, "ad astra," $19 million. in third place, "rambo" also got $19 million. but "downton abbey" beat all of them. stuart: i was nonplussed there. rambo? ashley: rambo 28. lauren: it was the fifth installment. you had a lot of different movies at the box office over the weekend. there's something for everybody. still, receipts are down.

stuart: i'm glad we're still looking at "downton abbey." lauren: it's a different time. politeness. stuart: you will know about this. the emmys last night, the fleabag thing. ashley: it was great. it's actually a somewhat rude comedy. it's pretty damn funny. pretty darned funny, i should say. stuart: streaming was the big winner. ashley: broadcast television has a tough time at the emmys, winning just two awards, both for "snl." hbo took home nine trophies, three for "chernobyl" and two more for "game of thrones" that wins everything. "fleabag" on the streaming side got four awards. that was a joint production between amazon and the bbc. very crude, very funny. there you go. and "marvelous mrs. maisel" also picked up awards. stuart: attention, people. do you remember this?

tesla's chief elon musk smoking weed on the podcast? created a lot of problems for him and for tesla. now the wework chief adam newman under fire for something similar. marijuana. now some board members want him out. how about that. gene munster, next. ♪ imagine a world where

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stuart: let's talk wework. some of the board members of that company are not happy with the chief executive adam newman. lauren, is this all about marijuana? lauren: the "wall street journal" reporting that he smoked marijuana on a plane internationally and also that there are some side dealings where he was renting companies he has a personal stake in into weworks so they want him out.

how do they do that because he has extra voting rights. stuart: he might be in some trouble there. i want to bring in gene munster with luke ventures. gene, i say wework has two choices. either get rid of mr. newman or scrap the ipo. what do you say? >> i say those are the exact two choices ahead of us and i think that probably the former different career opportunity for mr. newman ultimately is how this is going to play out. i know that that's a contrarian view. hard to imagine someone that ultimately has control of the board, as you just had mentioned, control of the board, they can't really fire him so then why do i think that ultimately, if this goes in the direction where he's no longer with wework, it's pretty simple that the "wall street journal" is reporting that one of those, there's an investor who is not happy with some of the behavior you just talked about and also some of the self-dealings that have gone on, and if they, in fact, pull their support for that, it will be difficult for

the company to continue. so if softbank is out, then i think he will step aside. stuart: they've got $12 billion in wework. that's a fact. okay. now, we are just coming up to 10:45 and i'm going to break news exclusive to us -- sorry, 11:45. this is exclusive to us and it's news from apple. they, apple, are going to start manufacturing their new mac pro, their most powerful computer, in austin, texas. soup-to-nuts. built right there in america. apple says tariff exemptions are allowing this to happen and overall, apple plans to invest $350 billion in the united states economy by 2023. that is big news for apple, big news for texas and i believe, you might see some reaction on the stock, this news is just breaking. this is our exclusive story here, just breaking for us. what's the texas governor saying? ashley: he's very happy, as you can imagine. he put out this statement, it says apple's latest investment

is a testament to texas's unrivaled business climate. our state's economy is thriving as the tech and manufacturing sectors continue to expand. he says i am grateful, this is greg abbott, the texas governor, i am grateful for apple's commitment to creating jobs in texas and will continue to promote fiscal and regulatory policies that encourage investment in our state and benefit future generations of texans. stuart: it occurs to me that tim cook has held a couple of meetings with the president. ashley: yes. stuart: and the president has urged him build your computers in the united states, bring your money back to the united states. now that appears to be happening. lauren: just last week, the president tweeted apple will not be given tariff relief for the mac pro. make it right here in the usa so they are. the mac is 10% of apple's revenue just so you know. stuart: fascinating. ashley: it is. stuart: $350 billion by one company invested in the united

states until the year -- by the year 2023. ashley: in a tax-friendly state, too. texas is svery good with that. stuart: do we have gene munster still with us? we do. thank you. gene, what are your thoughts on apple building this top of the line computer in texas? >> it's a big deal, stuart. big deal for two reasons. first is that it will be the most of apple's products that they built in the u.s. since i can remember, probably 20 years, and might be the most ever. it's going to be a segment of that 10%, this is probably somewhere between 3% and 5% of revenue but at a max they have assembled less than 1% of revenue so this is a measurable step up. i think what is equally important here is that there is an incredible amount of misinformation that goes on around how apple is navigating these tariffs, and ultimately, we have talked about on friday,

these 10 of the 15 tariffs have been largely avoided on the component side. that happens as you said because of commitments like this from apple. i really take away a very simple take is that apple is the world's greatest economy. they make products that i truly believe they want to enrich people's lives and i think that they are extremely strategic, and this is kudos to tim cook for building a relationship and ultimately diminishing the impact of any future tariffs. stuart: he's navigated the difficult political waters between big tech california and the president of the united states. tim cook has done very well, i'd say. >> absolutely. i think that, you know, there was this massive concern, this should be a relief for investors seeing this because they really are playing it forward and thinking about in december when the iphone comes up for potentially tariffed and i think the probability that happens

now, now, there could be some components, there are give-backs that happen so it's a complicated equation. it's not just the headline what group of products is tariffed or not, whether apple will be impacted. i think investors should take away the simple view that apple is doing a wonderful job of navigating the political environment better than any other company and separately i think the probability that the iphone is going to have some sort of tariffs has declined measurably this morning. stuart: fascinating. gene, thank you for being with us on a very important day. a very important moment. we appreciate that. >> thank you. an honor. stuart: sure thing. i want to bring in the mayor of austin, texas. his honor, steve adler. sir, i can't -- this is really a big deal for your city, isn't it? go ahead. >> stuart, it certainly is. apple has been in austin here now for a quarter of a century. we share a push for innovation. they have been a great corporate

citizen in our community. we're real excited about this expansion. it comes on the heels of a real significant expansion at the end of last year. so we're just real excited. stuart: are you challenging silicon valley for a tech hub supremacy? i know that's a strange question because silicon valley is clearly king. you challenging? >> well, you know, at some level, there are certain things we do really well. we have more startups per capita here than anybody else and i think it's cultural to the city. austin is a forward-looking, cutting edge kind of place and it has an environment in a city that a lot of employees apple wants to hire want to live in austin, texas and we are real pleased about that. stuart: you realize that importing people from out of state brings in people who may vote differently and see politics differently from the rest of texas. does that -- i don't suppose that concerns you as the mayor of austin, does it?

>> well, austin as a city has not always voted the same way that the rest of the state has, although we are seeing more and more cities in texas now beginning to vote the way that austin does. we are excited to have those employees come here but we also have a pretty developed work force here in the city. i think that one of the reasons why apple is expanding here is because of the people that are already here. stuart: did you play any role in discussing this with tim cook? did you offer any incentives to tim cook to bring the manufacturing of the apple mac pro to austin? >> the city hasn't offered any incentives to apple associated with this, other than just providing a great quality of life for apple employees. stuart: and a low taxation rate, i might add. >> there is, in this state. it's certainly very business-friendly. stuart: democrats don't approve of that, though, do they. >> no, and it would be a much

larger segment than the one we have here. but we are real pleased with this. apple has the second largest presence outside of california in austin, texas. stuart: terrific. your honor, mayor of austin texas adler, thank you for appearing with us today. congratulations, sir. that's a big win. >> thank you, stuart. we're excited. stuart: yes, sir. thank you. what do we make of this? lauren: you nailed it on the head when you said tim cook established a relationship with president trump, the dialogue was open and he slowly, both of them are slowly getting what they want. the company, the country wins, more jobs come to the u.s. the prices don't go up for consumers because no tariffs. ashley: plus the components developed, designed, manufactured in the united states. i was just looking at some of the companies that will benefit from this all across the country. arizona, maine, new mexico, new york, oregon, pennsylvania, texas, vermont, these are all companies putting out these

components so it's really a usa story which is terrific. stuart: you have to wonder where does it go from here? if you are going to build the apple mac book pro. the top of the line, $6,000 computer, their most powerful computer, do that successfully and make it soup-to-nuts in texas, you have to ask what other products will be made soup-to-nuts in texas or some place else in america? lauren: the watch, iphone, airpods, we'll see. apple was just given exemptions for several products as well so we do see a friendly relationship, if you will. stuart: you get a break from the tariffs, you build in austin, texas, you have a big meeting with the president of the united states, lots of smiles. sounds like a deal to me. ashley: sounds like good business to me. stuart: wonder if mark zuckerberg at facebook, who has also met recently with the president dressed in a suit and tie, can he get the same relationship going with our president? ashley: i'm sure he would like to. let's be honest. he was there last week, he was

having dinner with certain folks. i'm sure lots of horse trading going on in the background. stuart: fascinating. ashley: it really is. stuart: we have to take commercial breaks occasionally. one of those occasions is now. there will be more "varney" after this. ♪ ♪ ♪

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that's why we take a totalaking approach to health and wellness, . . so you can keep pursuing the life you love. aetna medicare solutions. stuart: let me repeat news exclusive to fox business. at 11:45 we broke this news. apple will build the, what is it? ashley: apple mac pro,. stuart: build all of it soup-to-nuts in as you texas.

that has not had a profound to affect on the stock. when it is widely reported you might see some response. i don't think so. building this computer in texas will not make an appreciable difference to apple's bottom line for some time to come. ashley: no. stuart: i wouldn't expect a big stock market reaction. ashley: austin's stock has gone up. >> we're continuing to influence the supply chains moving out of asia, to the united states. stuart: how many ceos of major tech companies have a good relationship with president trump? ashley: i don't know. stuart: tim cook for sure. ashley: tim cook for sure. stuart: i would not say mr. bezos. ashley: definitely not. >> mark zuckerberg would like that relationship with the president. not there yet. >> jack dorsey, no.

no, no. stuart: the guy who runs microsoft these days. ashley: nadella? stuart: i doubt he has contentious relationship. ashley: i don't think he has done what tim cook has done. have a dinner, establish that relationship. that is important. stuart: that's true too. we should look forward to tomorrow, a big event coming up. president trump will go to the united nations building in new york city. he will make a presentation at united nations general assembly. world leaders are assembled a mile away from this building. what is he going to talk about? i suspect when we put the price of oil on your screen, i suspect he may mention america's energy dominance because the iranians will be in the audience the iranians are trying to provoke us to iran, we're having none of it, and our frackers are making

up for lack of oil coming out of saudi arabia. ashley: he will point that out. it is all about our relationship with saw saud how close we are with saudi arabia. we back them the whole way. i asked him if he meets rouhani, president of iran. stuart: president spoke with reporters briefly in morning as he walked into the united nations building, on religious freedom, addressing the nation there. as he was walking in the reporters were shouting at him. one occasion he was very brusque. >> whether all our adversaries whether kim kill of north korea. you are honestly. it will take months, not weeks, for saudi arabia to get affected supply back on the market. we're barely seeing a move in the price of oil and price of gasoline which went up 10 cents,

camedown overnight. stuart: if this happened attack on saudi arabia i keep saying throughout the show, 10 years ago, five years ago, you would be looking at five dollars gas or more. regretly our time is up. david asman. thank you very much for sitting in for me. >> my pleasure. you have a great crew as well. thank you very much, stuart. david: is iran planning a new strike? a new warning coming up. apple getting a win on tariffs. u.s. gets a win with apple. is this made in the usa push just beginning? a busy two hours starting right now