is not. maria: look, today is throwback thursday, on instagram and twitter. i got a great throwback thursday picture i'm about to post on my instagram feed. have a great day. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. good morning, california. the sun is rising on the west coast but millions will have a hard time brewing the coffee. pg & e has turned the juice off to 700,000 households. they are doing this to avoid liability from any future wildfires. they are doing this to avoid liability for any fires at all, because weather conditions now suggest that more fires are imminent. pg & e has declared bankruptcy. they were held liable for last year's devastating fires. it's really tough in california right now. $4 gas, highest taxes in the nation, highest poverty rate in the nation and now this. millions in the dark. well, we are also in the

dark about those all-important trade talks with china. top level negotiations start now. where are they going, we don't know. but we can tell you that apple has removed an app which had been used to track the movement of police forces in hong kong. we can tell you that nba events in china have been disrupted because china's bullying american basketball teams. and we can tell you that after being dropped in china for supporting hong kong protesters, "south park" has fired back with an obscenity. we can also tell you that today's market activity hinges almost entirely on any headline that emerges from the trade talks. in the absence of any hard news, it's a virtual stalemate. the dow is going to be down maybe 30. two down for the s&p, maybe five points lower for the nasdaq. i will call that a standoff. here's the stock of the day and it's a big winner. bed, bath & beyond is up 19% free market. they have hired a top guy from

target to turn around the ailing bed, bath & beyond. looks like that could be the best hire they have ever made. "varney & company" is about to begin. stuart: all right. let's get straight at it. the trade talks resume i believe right about now in washington. our own edward lawrence is there. edward, we don't have any hard headlines. you're just going to have to read the body language, aren't you? reporter: boy, if i were a poker player, i would not want to be at the table with these guys. you really couldn't get any sense, they were smiling on the way in, the chinese vice premier liu he was all smiles. stopped, in fact, to smile towards the camera, gave a gesture toward the camera, shook hands with both trade representative robert lighthizer and u.s. trade representative robert lighthizer and treasury secretary steven mnuchin.

what we have been hearing back and forth over the last day or so is if the chinese are going to make this a one-day thing. are they leaving today or not. there is some good will that has sort of soured this week with some of the actions the u.s. has taken. sources for me close to the u.s. trade team believe that some of these reports are posturing by the chinese as they are trying to go into these trade talks, but it certainly has soured. the chinese are upset, the fact we added 28 new companies to the entity list as well as entities for chinese, that's the blacklist where u.s. companies cannot do any deals with them. also, the visa restrictions on certain government and chinese officials over human rights violations by the state department has sort of soured this. again, they have a lot to talk about inside. we don't know exactly what progress could be made but again, the tone of the talks, you saw, asaw there, it was very very, very good on the way in. we'll have to see if that good will continues as the talks go on, because it's been a rough week.

stuart: you have to read the smiles and the head shakes and everything else. that's a tough job for you, young man. okay. right now, though, stalemate and futures still point to, what, about a 40 point loss for the dow. edward, see you later. now look at this. apple, they have indeed pulled an app that helped protesters in hong kong locate the police. susan, did china make them do this? susan: well, it followed criticism in chinese state media with peoples communist party's mouthpiece saying it was toxic software. this was a crowdsourcing app. basically people had to make you aware of where they saw police and ambulance and all the other types of vehicles across the city of hong kong. it wasn't live for that long, wasn't available for that long, just a few days. in fact, its initial application was rejected by apple but then they put it on the app store just a few days later. but according to apple, they say it was used to target and ambush police, threaten public safety and criminals have used it to victimize residents in areas. meantime, the maker of hk

map.live, that was the name of the app, they say there was no evidence the app had been used to target and ambush police. but this is another example, some would say, of u.s. companies having to kowtow to chinese rules and criticism. and that includes the nba as we know with that tweet from the houston rockets' gm. stuart: that's where we are. let's get to the market and bring in market watcher gary kaltbaum. let's talk trade. i want to ask you, at this moment, this day, in the absence of any firm news out of the trade talks, are you buying anything or are you selling anything? >> stuart, last night the futures were down 300, back to flat, down 250, back to flat, and now sitting here, no thank you. there were 15 different stories coming out last night culminating with something from the white house saying we could do a partial deal, even though hours earlier, the president said he won't do a partial deal.

so who the heck knows. we have had 18 months of back-and-forth and i am just sitting back and waiting. look, i do watch the market. the internals are not very good. the dow, s&p, nasdaq, nasdaq 100 are where they were 12 to 18 months ago. the russell and the transports are where they were two years ago. i just think we're in the soup right now. it's a good time to just sit back, but i have to add something. jay powell now printing money again and going to be buying bonds. for ten years, markets have loved that. that has me on the balls of my feet to see if the internals improve and things get better. he said don't call it quantitative easing but it's exactly what it is, and again, markets have loved it so it's something i'm watching very very closely on top of this china stuff. stuart: gary, watch it with us. we're covering it throughout the day. stay there, please. got something more for you coming up. i want to talk about bed, bath & beyond. big move in the premarket. they hired target's head of

merchandising to become their new ceo. lauren simonetti with is now. that stock is up nicely. how does this guy perform at target? lauren: amazing. they loved him. he came in in 2016 and he was the guy, chief marketing officer who did all the collaborations. remember, people would line up for hours outside the target store before a new collaboration. he brought in some private labels. he did a whole retail experience. now right ahead of the holidays, he's leaving his position at cmo, at target, to go to bed, bath & beyond as ceo. bed, bath & beyond stock is down 85% in the past five years so of course it's jumping on this news. they are closing 60 stores by the end of this year. they have some real problems. maybe he can change their retail experience there because they need more than a freshening up. stuart: at the moment that looks like what the market is betting on, that it's a good move. lauren: good promotion for him.

stuart: gary kaltbaum, i remember jc penney when they hired a very successful apple executive -- >> from aupple, yes. stuart: it didn't work out. penney's at 98 cents a share. ron johnson. i had forgotten his name. thank you, susan. do you expect something similar at bed, bath & beyond? >> no. i think ron johnson tried to put a mall inside a mall inside jc penney that did not work and he basically destroyed the company. look, if you are going to do something to fix a company, you hire this guy. he took on amazon at target and did a darned good job of it, so i think this is a great move, but just keep in mind, same store sales down 7%, tremendous competition from the wayfairs, from walmart, from amazon, so this is not going to be an easy thing to do. i think they're shutting 60

stores now. they shut 20 last year. it's going to be a tough road. i went to a couple bed, bath & beyonds last week. empty. they were giving out 30%, 40%, 50% off on a lot of stuff because of lack of demand in the store. again, this is going to be a tough road but this is the guy. if he can't do it, i don't think anybody else can do it. stuart: we made it the stock of the day, which of course may change if we get any serious news out of the trade talks, then something else will be the stock of the day. right now, bed, bath & beyond. gary, thank you very much. see you soon. delta airlines, they did report higher profits earlier this morning. not helping the stock at all. it's down 3.5%. trying to get in touch with higher costs, okay. a voice in my ear says higher costs. that's why the stock is down 3.5%. lauren: guided down on the holiday quarter also. stuart: the holiday quarter guided down. lauren: guided down big-time. they don't fly the 737 max but when that starts flying again it

affects pricing in the industry. stuart: great job i've got. you get all these voices in your ear. some of it is welcome, some of it is not. hewlett-packard, hp, on your screen, they got a downgrade from goldman sachs and they are down 2.25%. next case. california cutting power for close to a million households, hedging against a wildfire risk. look, ash, this is just preempting liability, isn't it? ashley: yeah, it is. pacific gas & electric, pg & e, went into bankruptcy in january after disastrous wildfires in 2017 and 2018, last year 85 people were killed in these fires and pg & e was found to be culpable because the accusation was they didn't clear brush away and when high winds came in, those power lines sparked those wildfires, and because of the overgrown brush, they were responsible. what they are doing now, because

the conditions right now in california, warm, low humidity, gusty winds, they are preempting, turning off power to close to a million people. san francisco north. stuart: what about tesla? they are an electric car company. what do they do? ashley: huge. if you don't have the power, how are you going to charge your car? before this happened, pg & e warned people we will have rolling blackouts. tesla put out a warning to its customers saying look, charge up your cars now to 100%. get ahead of this. also, they started to add solar and actual battery power to their charging stations to try and offset the electrical outages. but it's a mess. stuart: it is a mess. ashley: a mess. stuart: thank you. back to your money. check futures, please. up about -- sorry, down about 40 points for the dow. a small loss all across the board. basically it's stalemate waiting for news from the trade talks. big guests, and i mean really serious big-time guests coming up on the show later this morning. wait for it. we are going to talk on the set

here to the cast of the wildly popular show "gold rush." that is discovery channel's top rated show. it's coming back for a tenth season starting tomorrow. i'm going to ask these guys, wa i watch the show, i binge-watch the show, do you make more money from mining gold or from their tv deal? i got a buck says it's the tv deal. we'll see. meanwhile, the democrat candidates claiming that america's middle class struggling. not so, says grover norquist. he says the middle class is doing better than ever under president trump. he's on the show.

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( ♪ ) ♪ stuart: this is just coming at us. it's about trade between america and china. the usda, our agriculture people, they say china is going to buy an additional 400,000 tons of soybeans from us. as you may know, the trade talks are currently under way in washington. we also have this.

edward lawrence just reported from a source close to the u.s. trade team that says the leaks about the chinese cutting the negotiations short may be posturing for the trade talks. either way, the talks are under way and any firm headlines we get, you will get them real fast. the dow is still looking for a loss of about 30 points. let's get to the nba and china. the brooklyn nets and los angeles lakers, they are playing there as we speak, but media sessions for the teams have been called off. joining us now, former china central television america anchor, phil yin. phil, in your opinion, how is the nba handling this? >> well, you know, i was at actually one of the games several years ago when the lakers were actually in macao for one of the preseason games. look, the chinese people, they love the nba. they are obsessed with the nba, in fact. we know that from the stats and data, but the nba for lack of a better word, dropped the ball on communications on this whole

china thing. not only did they manage to basically tick off all the chinese people, they also angered a lot of americans on the other side as well, and they have got to decide, you know, china is a communist country. this is a fact. and if the nba's okay with that, then that also comes with other risks as well in terms of their brand and their product, and i think they are having a difficult time with it and it's obvious from this week. stuart: okay, look, we have this "south park" cartoon series firing back at china after beijing banned the series over comments about the government. phil, our viewers, i want you to watch last night's episode. roll tape. >> i'm never working for a company that's regulated by a communist government. >> okay, okay. no more selling to the chinese. >> then say it. say [ bleep ] the chinese government. >> [ bleep ] the chinese government. >> i didn't hear you. >> [ bleep ] the chinese government. there! >> well, you just got your partner back.

stuart: okay. i think we get the gist of that even though we bleeped it out. it seems to me the "south park" people are saying don't worry about the money, we're standing on principle. what do you say? >> yeah. i think that's easy to do when you are a cartoon character. it's pretty darned funny, stuart. it's probably one of the few things that made me laugh this week when we were watching the headlines on what's happening at the white house and d.c. but they are saying what most of us, many people are thinking, probably, and you know, i'll just leave it at that. it's hilarious. it's something that american companies are really, really struggling with because china is a place where if you don't like something, you shouldn't say anything. let's be honest. stuart: keep your mouth shut. >> us as americans, we are not real good at keeping our mouths shut. so it's a hard one. stuart: it is indeed. phil, thanks for joining us this morning. very poignant moment. we appreciate it. thank you, sir. back to futures.

no movement in the last few minutes, no movement at all because we've got nothing, no headline coming out of the trade talks. dow still down about 40 points. facebook's mark zuckerberg is going to testify before congress. he's going to be testifying about that libra cryptocurrency. now, we've got a guest who says zuckerberg will take his lumps at the hearing but will ultimately get libra done.

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stuart: obviously a confrontation coming. facebook's chief mark zuckerberg will testify on capitol hilary this month and he will be testifying in front of maxine waters. that will be interesting. joining us, jim anderson, from social flow. take me through this. what do you think's going to happen? zuckerberg versus maxine waters? >> he's going to take his lumps. he's showing us and it's notable he's showing up in person. he's not sending a lieutenant. he's showing up to take his medicine. he will be criticized for privacy, for not being trustworthy, he will promise to do better and it will be great theater. stuart: so he will eat humble pie while maxine waters and some of the other congressmen go right after him, and really lay into him big time. >> yeah. but he's playing the long game. he can afford to wait five or ten years. he's 35 years old. in ten years he will be 45 years

old. he's younger than 98% of congress right now. he can afford to play the long game. stuart: but if he doesn't get the libra and if the antitrust moves against him succeed, he doesn't have ten years. >> so his company gets broken up, worst case for him, and now he's the owner of two $300 billion companies instead of one $600 billion company. stuart: interesting. >> not so bad. stuart: back to the libra. you think it happens or not? >> i think it does. mainly because he's so committed. he's showing up in person. this is clearly an important project to him. payment is a big business. stuart: is it that important that zuckerberg turns up in person, that's a big deal? >> i think it is. you know, he's wealthy enough and powerful enough where he doesn't need to go just take the ritual beatings again and again and again, unless he's trying to accomplish something. i think he thinks payments is the future of facebook. look at what apple is doing with apple pay. if apple is getting into payment and by the way, if you look under the covers of how apple pay works, it's got cryptography, tokenization, it

looks a lot like cryptocurrency. they just won't call it that. apple is more a luxury brand, cartier. cryptocurrency is dungeons and dragons. stuart: jim, thank you very much. it's going to be fascinating any way you slice it. fascinating stuff. thank you very much. check futures. we have come back a little bit. we don't have a headline out of the trade talks. we have heard from the u.s. agriculture people, china will buy an extra 400,000 tons of soybeans. maybe that's had an influence. we are going to be down about 17 at the opening bell. we will take you to wall street after this. as a struggling actor, i need all the breaks that i can get. at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water?

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stuart: all right. we are getting some headlines if china's vice premier, who's in washington in the talks now. ashley: he says china is willing to reach agreement on matters that both sides care about and to prevent friction from further escalation. he says the chinese side have come with great sincerity, are willing to cooperate with the u.s. on trade balance, market access and investor protection and he goes on to say he hopes the international community will work together to maintain world stability and prosperity. there you go. stuart: that's not likely to really move the market. ashley: no. stuart: it's almost platitudes, isn't it. here we are.

ashley: let's have a happy meeting and help each other. stuart: here's what we're talking about. that doesn't help the market at all. we've got ten seconds to go. the market will open and i'm pretty sure throughout the day, we will be affected by anything that comes out of those trade talks. here we go. 9:30 eastern time on a thursday morning. we are off and running. we're not going very far. okay. bottom right-hand corner of your screen, the dow industrials down 20 points in the first few moments of activity this morning. look, we are also showing the left-hand side, bed, bath & beyond, our stock of the day, they hired away a target executive who is going to bed, bath & beyond trying to turn the thing around and in the early going, the stock's up 19%. bit more on that coming up. netflix, ubs is cutting its price target to $420 a share. that's interesting. the thing is at $265. susan: yep. stuart: okay.

from $420 to $370. okay. susan: still high. stuart: still a hundred bucks above where it is now. i never understood this stuff. i have been doing this for 45 years. i still don't understand. okay. michelle mckinnon is with us, susan li and ashley webster of course. bed, bath & beyond is our stock of the day. they've got this guy coming over from target. is that going to work? bearing in mind ron johnson who went from apple to jc penney? ashley: how did that work out? you can argue it's rearranging the deck chairs on the tigtanic. bed, bath & beyond is struggling. will this save them? i have to be honest, i have my doubts. he did a great job at target, really turned things around at target. if it can happen at bed, bath & beyond, bravo. i'm skeptical. susan: timing is very crucial, because basically, this guy is leaving just before the crucial

holiday period from target, moving to bed, bath & beyond. i just got two coupons on my e-mail from bed, bath & beyond. stuart: those blue things? susan: they have great discounts. he was very good at target at launching their private label, whether it's lingerie or some of their body works as well. stuart: the investors love it. the stock is up 20% which is a significant bounce. all right. let's get to the markets. i think this is flat out headline-driven. any headline you get out of the trade talks will move the market. no serious headlines at this point. we are stalled with the dow down three points, down one point, down two points on the dow. michelle mckinnon, look, i would not touch this market today with a ten-foot pole because i have no idea what the headlines are going to say. would you buy anything? >> i would. i would. keep in mind, the majority of my clients are long-term investors.

i think you can feel confident about buying at these type of valuations. i think more importantly, yes, trade is important but earnings coming up, and what kind of expectations we have for quarter four, if we have surprises on the upside which we might see. not a massive surprise on the upside but just a little surprise, that can help the market. let's face it, if those earnings estimates going into 2020 are as high as people think, they could be pretty good. i think regardless of trade, as long as you are a long term investor, you can get in. this trade discussion is like a hamster wheel. stuart: yes, it is. >> you really kind of have to ignore the headlines at this point. stuart: i'm going to move on from the trade talks. nothing going at this moment. apple pulled that app that helped protesters in hong kong locate police. i want your opinion, susan. how is tim cook handling this china crisis, compared to other executives? susan: i would say he's probably the best american ceo toeing

the hong kong-u.s.-china trade line as well. think about it, he's probably the most successful american ceo and company in china. 20% of their revenue comes from china. he has been able to open an app store whereas google play has not been able to in the world's second largest market for apple. they generate $52 billion. he knows, if you adhere to rules in one country, you have to play by their rules, right, and i think he understands that in china. stuart: he's not being bullied but is holding the line. susan: apple stock is close to record highs once again. stuart: the high is $228? susan: very close. past a trillion. i think the numbers speak success. stuart: it's up this morning. it is a dow stock, let's not forget that. check the big board. dead stop, i'm going to put it like that. virtually no movement at all. waiting on china trade. how about delta. they did report higher profits but that is not helping the stock which is down 4.5%. it lowered its guidance for the upcoming holidays.

that's the problem, down to $51 on delta. two more headaches for boeing and it is a dow component. number one, southwest, the airline, finds a crack on two boeing 737s during an inspection. number two, russia's aeroflot cancels orders for 20787 dreamliners. boeing is down a half percent. united health, downgraded to a hold from a buy. that's taken three bucks out of the stock. 1.6%. cisco downgraded to a neutral from a buy at goldman sachs. down 2.5%. then there's generac, the catastrophe company. it's getting a boost from the power outages in california. the stock is now at $85 a share. i remember it was in the 40s. up 1.5%. let's check bitcoin for you. $8,400 a coin. the price of gold, roughly $1500 an ounce.

$1503. the price of oil, i'm expecting $53 a barrel. it's $53 a barrel. the yield on the ten-year treasury, 1.58%. oh, that's interesting. the yield has gone up. very interesting. i thought it was going to be down at $1.52. alibaba will no longer sell e-cigs. what's with this? ashley: they are suspending sales as of today. because of concerns over underaged vaping for one and two, this mysterious lung illness that's been linked to a number of deaths now across the country. what are they not going to sell? vape pens, herbal vaporizers and empty pods. however, these items will remain available to people living outside the united states which is interesting in itself. just joining others who have suspended or stopped the sale of these vaping machines. stuart: full disclosure, i own a little of alibaba's stock because i wanted to get in on a good chinese company i thought might give me a capital gain in

the future. susan: there you go. stuart: not doing toodly. >> great buy long-term. i support. stuart: you do? >> yes. absolutely. stuart: i did the right thing? >> you did. stuart: i'm doing well with microsoft and alibaba? >> 100%. stuart: i also bought at & t because i like a 6% dividend. how am i doing? >> i think that's great, too. ashley: 6% is excellent. susan: at & t has the highest debt outside any non-financial firm in the world. there are risks involved with 6% yield, you know. i'm just saying. stuart: i'm just saying. okay. how's this for big brother. amazon workers reportedly watching footage from your cloud cam. okay. susan: let me explain the cloud cam. stuart: go ahead, please. susan: you know we have these ring doorknobs. we also have cloud cam secure cameras as well that you can install, that you can upload on your phone to check if your door is safe. so apparently, because they are

using ai, artificial intelligence, to monitor your door so a physical human being doesn't have to do that, they have been sending snippets to test elsewhere so that they can get the directions right and basically look at the images correctly. however, explicitly according to this bloomberg report, they didn't actually, amazon didn't explicitly tell customers that human beings are actually behind the motion detection software and in some cases, you are going to like this, apparently there were some shall we say salacious video that was uploaded according to two people in this article. they say the teams picked up activity including people enjoying sex. stuart: okay, look, don't we all have to get used to the fact that you are going to be on camera everywhere, all the time. ashley: there is no privacy. stuart: in the digital era, there is no privacy. susan: everyone is training their ai, siri, alexa, and they need snippets. you might be heard on your

alexa-powered devices or your apple phone. stuart: you want this thing in your house, that's the downside. take it or leave it. very difficult to leave it, isn't it. you can't get off the grid. how do you? i can't get off the grid. ashley: move to alaska. live in a woodshed. no power. stuart: the "gold rush" guys will be on the show later today. that's very important. i love that show. they are on today. got it. pet owners, pay attention, please. uber has a pet ride hailing option in some cities. ashley: they are testing it out. uber drivers are supposed to accept only service animals but now they are testing this out for an extra surcharge of $3 to $5, you can bring pooch along or whatever pet you have, you can bring along. but the driver can opt out if they don't want a four-legged passenger. it's interesting, they are testing it out in austin, denver, nashville, minneapolis, philadelphia, phoenix and tampa bay. this is a big deal for pet owners. susan: a big deal.

ashley: new york city as well. stuart: yeah, it is. i've got a question for michelle. i want to get into this new ride sharing business. i want to invest in it. i want to buy uber. i haven't bought it yet. the thing is down to, what, $28 a share. have i missed the boat? should i jump in now? what do you think? >> i think it's just a question if you believe the uber story. that story is that they are going to be a massive transportation app, where you are going to do shipping, you are going to do freight, you are going to do all these things and who knows, maybe even airplanes. i think if you believe that story, $28 is probably a good deal. stuart: i believe the story. i should buy it. susan: wait until the overhang, whether or not drivers are employees or contractors before that decision, before you jump in. stuart: okay. i will wait. geez. 9:40 eastern time. it's that time. you were spectacular today, agreeing with alibaba,

microsoft, at & t. you're all right. come back tomorrow. thank you, everybody. check the big board. we are still waiting for anything out of the china trade talks. not much of a price movement here. we are up 18 points on the dow industrials. next one. national championship winning coach bob stoops says he achieved success by not making excuses. the oklahoma football legend shares his story with us, in our next hour. grover norquist says middle class americans are in great shape under president trump. could his democrat rivals like elizabeth warren, would they change that? i'll ask him. announcer: fidelity is redefining value with zero account fees for brokerage accounts.

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stuart: well, not a lot of movement. we are now up 20 points on the dow industrials. we are waiting for any kind of concrete headline coming out of the trade talks. all right. over the past year, sorry, it is a year to the next election, the democrats, they are still beating that drum, keep saying that the middle class is struggling. watch this. >> this campaign is about more than defeating trump. this campaign is about transforming this country and creating a government, creating a government and an economy that works for all of us. >> why is it that america's middle class is being hollowed out? >> look at where we are now. the middle class is hurting. today, the middle class is shrinking. stuart: the middle class is shrinking.

well, look at this headline. grover norquist, middle class americans faring better than ever during trump. okay. who's right here? because grover norquist joins us right now here in new york city. welcome to the big apple. >> good to be here. stuart: make your case. the democrats say the middle class is hurting. you say not. go. >> okay. during the eight years of bush, plus the eight years of obama, 16 years, the average -- the median income family unit got a $1,000 raise. the median income went up $1,000. in the last two and a half years under trump and the republicans it went up by $4,000. that's why peo in the annual, $4,000 for the absolute middle household income in real dollars. it's gotten a lot better. you have seen the numbers about unemployment down, general wages down but absolute middle is moving in the right direction. stuart: that's your concrete statistic. $65,000 a year is the median household income -- >> up $4,000 since the president came in. and it had been growing very

very slowly, $1,000 over 16 years. not $16,000. $1,000 total. down, up, down, up, but only $1,000 over 16 years. it's pretty good for the middle income voter right now. but there's a very real danger, because the only way to get the kind of cash elizabeth warren or biden or sanders, they basically have the same program, they are going to spend tens of billions of dollars on a whole series of things and turn us into something like france or germany or some european country. you get that money out of the middle class only. stuart: let me go through this. it looks to me like elizabeth warren is going to be the nominee for the democrats. i don't know whether she wins or loses but let me just make an assumption. let me suggest, if she wins, becomes the president, and can get what she wants through the senate even though who knows about that, let's suppose she's elected, gets what she wants, what does she do to the middle class? >> two things. she will say look over here, i'm

going to have a wealth tax and while do you that, she will put in a carbon tax, energy tax, which hits the middle class, and that turns into a v.a.t. because at the end of the day you are not just going to tax energy. stuart: what do you mean? >> value-added tax. every european country has a value-added tax at every level of production, and it gets to be about 20%. the difference between europe and the united states, they have a v.a.t., we don't. they pay higher income taxes in the middle income people, and way higher sales tax, value-added tax. that's how you become a european social welfare state. stuart: you think elizabeth warren's principal vehicle for going at the middle class and its money, is a carbon tax? >> step one. step two, v.a.t. stuart: step two, value-added tax like in europe. i can tell you that i remember in britain, when the v.a.t. was introduced, everybody said okay, well, we will tax consumption but we won't be taxing income tax very much. that was the exact opposite of what happened. we went up to a 20% v.a.t. on

everything and income taxes went up as well. >> every european country that adopted a v.a.t. saw all of its taxes increase more rapidly after that than before. so it just makes the government bigger and stronger and more hungry. stuart: does indeed. grover, great to see you in new york. don't be such a stranger up here. >> i'll be back. stuart: it's not totally hostile territory, you know. >> i live in d.c., for krcrying out loud. stuart: thank you for being here. this just coming at us. the "wall street journal" reports that two men who helped rudy giuliani on ukraine have been arrested on campaign finance charges. do we have anything more? susan: they are expected to appear in court on thursday. they are two foreign-born donors. their names have been in the press as of late. they are two florida businessmen who have been under investigation by the d.a. here in manhattan. they are expected to appear in federal court in virginia. their nationalities unclear but

it is probably to be in the former soviet republic, possibly ukraine because they have been asked to turn over documents in this impeachment investigation which they have refused to do. looks like they are now being arrested on criminal charges of violating campaign finance rules. stuart: got it. that just happened. just in to us. thank you very much. no impact on the market from this. we have just moved a little bit higher. we've got about two-thirds of the dow green. one-third in the red. the dow industrials overall, up 35 points. this year, just this year, 140 local governments like police stations, hospitals, 140 have been hit by ransomware attacks. ibm is trying to stop this. can you stop it? we will discuss it with ibm, next. the world is built for you. so why isn't it all about you when it comes to your money? so. what's on your mind? we are a 97-year-old firm built for right now.

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stuart: a presidential tweet and boy, did it move the market. yes, it did. here is the tweet. big day of negotiations with china. they want to make a deal but do i, question mark. i meet with the vice premier tomorrow at the white house. okay. that came out two minutes ago and within two minutes, we're up 130 points, a half percentage point on the dow industrials.

i'm not reading that as a wildly optimistic tweet, by any means, but it's the first serious headline that we've gotten out of the talks. and the market's gone up. next case. want to get to this. 140 local governments have been held hostage by ranransomware attacks, where a hacker takes control of the entire computer system and demands a lot of money to unlock it. wendy whitmore is with the ibm cybersecurity team, and she joins us now. wendy, i know that you are doing your best to combat this ransomware, you bring people in, try to train them as to how to deal with it but i have to go hard at you and say look, you can't stop this, can you? you've got no means of stopping this right now. >> good morning, stuart. it's great to be here. so you know, i have spent the last almost two decades responding to cyber breaches and many of them, the largest in the world, and the thing that's kind of unique about ransomware, it's not the attacks. the attacks are just kind of a derivative of previous attacks.

but what we see is within the response and specifically when we get to governments and cities responding, they have the feeling that maybe there's an option, right, i could pay the ransom or i can use money to secure the network. ultimately, it's never an either/or. that's a false perception. the reality is that we still have to secure the network and the environment, even if we are paying the ransom. so moving forward, we really want cities to be thinking about it in the way of how they more effectively secure their network. stuart: what do you tell them? they come to you, hey, we are being held hostage, what do you tell them? pay the ransom and/or fix your system in the future? is that what you are telling them? >> you know, so the reality is just in 2019 alone, we have seen over 70 cities in the u.s. impacted by this. these attacks are becoming much more prevalent. the things cities are doing that are really effective are three-fold. first, they have an incident response plan and they are testing it. so they are familiar with ransomware attacks, they know

what to do in the event of a breach. second, their most critical and sensitive data is available offline and it's backed up. so if they have access to it, they don't even need to answer the question of do i pay a ransom or not because i have access to my system data and i can back it up. thirdly, they are patching their systems frequently and make sure that the most critical vulnerabilities are not going to be able to be exploited. stuart: fascinating. wendy, that's fascinating. back up and check your system. good stuff. wendy, thanks for joining us. i'm sorry to cut it short but this is a huge market day, as you can appreciate. good stuff. see you soon. thank you. back to the big board. almost the high of the day. now we're up 150 points. the market moved up after the presidential tweet saying he will meet with china's vice premier tomorrow at the white house. that apparently is positive news. the president says, he says china wants to make a deal. we're up 147. another debacle, in my opinion, in liberal california.

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dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. stuart: 10:00 eastern time. we have got news for you on money and on trade. first of all, the dow, this is the high of the day as of right now. we're up 180 points, back to 2,605,278. what happened? well president tweeted that we meet with china's vice premier tomorrow. that has taken as a positive sign. the president also says china wants to get a deal done but do i? okay, that is the trade and money news at the top of the, we have more. mortgage rates, it is after all thursday at 10:00. what is the number? ashley: i live for freddie mac numbers. today it is 3.57%. that is down from 3.65%, stu.

an interesting stat. freddy says homebuyer demand is high. 46% of loans this year went to first-time homebuyers. that is a 20-year high. so there are people out there taking advantage of very low rates. stuart: that is a very interesting stat. ashley: very encouraging. stuart: 20-year high for first-time buyers getting into the housing market. that is cultural, interesting trend. ashley: dad sign. stuart: look at the big board again, please. we're now up 160 points. the dow, that would be 2/3 of 1%. the dow is back to 26,500. now this. athletes have no problem criticizing president trump but they are unwilling to criticize china's communist dictator. there is a glaring double standard here, isn't there? how can we forget colin kaepernick and the kneelers? their protests really hurt football. how can we forget the captain of

the women's soccer team who famously said she wouldn't go to the effing white house. how many athlete refused to go to the white house. they felt free to call him names. many were eager to join the trump-hating mob. what is a contrast what is going on now with china. where are the athletes willing to stand up, even mildly criticize xi xinping? what he is doing to those young protesters in hong kong? well there was an e-sports athlete who appeared on tv in taiwan in a gas mask to support the protesters but he was suspended for a year. he had his prize money taken away by his american employer, by the way. after the general manager of the houston rockets tweeted some mild criticism, nets own sy joe tsai said the tweet was damaging. the rockets james hardin

apologized. we love china. money makes a difference. insult president trump an athlete pays no price. critize xi xinping the world comes down on you. the players stay silent or crave inly apologize. when you see muslims held in camps in western china, riot police shooting protesters on the streets of hong kong, you have to wonder at the deafening silence from the sporting world. second hour of "varney & company" just getting started. live from new york city. you're the finance chair there. >> i am. stuart: i want your comment on the president just tweeting about china trade and the markets have gone straight up. this is all, hour economy and the market really depends on

china trade, doesn't it? >> it does, yeah, there are bigger issues here. when you're talking about what the president is going through with impeachment, the question does he need to get this done right now or not? i think the answer is he does and here's why. the question for 2020 is, who is getting things done for the voters? is it congress getting things done for the voters or the president? look what is going on in congress. you have a usmca trade deal sitting on their desk for a year, nothing happening. the president has a chance right now with china to say you want to get something done for your pocketbooks, businesses farmers, you want something done? i'm getting something done for china with you. that will be a defining issue in 2020. he says he is optimistic about sitting down with china right now. that is very good news for his political prospects. stuart: do you think, a great deal to gain from him even with a short-term, medium deal. we do something on tariffs, they do something buying on soybeans

for example. do you think the impetus for him is to do that? >> i think it is for doing something bigger. i don't think he should play small ball. the nba contacts, china rules, he has a chance i want you to do something real on intellectual property. i will bring down tariffs but i want you to do something real because we want to change the rules. imagine how that would play right now? imagine how big that would be? stuart: imagine if we don't get anything at all, he can't gets a big deal, walks away completely. the chinese walk away the market loses 500 point. >> you need a beginning partial deal. it has to be more than soybeans. the conversation is bigger than soybeans. the opportunity to lead. stuart: i would love to see a short-term, intermediate deal. we do something on tariffs. they buy more farm products that is probably as good as you will get. >> no, i don't think that has to be. i don't think what will satisfy the american public. they want the rules changed. they don't what they saw with

the nba he can do something real on intellectual property. it's a narrow issue. it is in china's interest as well. his team needs to push that. they need to get focused, get something real. that is the big bump. that is where the economy get as big bump. stuart: get back to china for a second and american athletes and sports teams and business executives. do you think they are kowtowing to china. >> what is happening for a long time u.s. businesses thought when they exported products they exported our values. turns out it is a two-way street and they didn't even understand the way they were norming in little and big ways how china does business. this week is the wakeup call. they're saying i think they're realizing we built a business around a repressive regime. the u.s. public is starting to see that as well. the question will consumers care or will they play dumb? i think they're starting to care. stuart: if i was running an american business with a heavy-duty business in china i

might just keep my mouth shut. i have to worry about my shareholders. i have to worry about my customers and i have to worry about the entire business. >> that's true. but if you built a reputation business on values, what the nba has done, look at marketing they have done over the past decade this, is values-based business, you stand for something. will you sacrifice that for china. i get the potential is big there, the u.s. consumers have to ask the question, the big market is still the u.s. are we okay supporting a league that says it is about openness and fairness but turns a blind eye to a million muslims in china who are being persecuted for their faith. stuart: you would stand on principle? >> look, the nba's brand is a principle brand, yes. if they don't do that, they can forget about the long term. china can build its own nba if it wants to. the nba in the u.s. matters because it is a values-based business about competition, openness and fairness. you take that away you don't

have sport anymore. stuart: brian, tell us next time how you feel. brian, thank you very much. appreciate it. let's get back to the markets. we're still up, very solid gain about a presidential tweet about meeting china's vice premier tomorrow. we're up 156 points. i need more guidance on the market. come on in rebecca waltzer joining us here in new york city. here is my opinion. the best we can get out of these current talks is a small scale deal. we do something on the tariffs, they do something on buying maybe soybeans or something like that. >> right. stuart: are you happy with that? >> of course not. stuart: the market is. >> the market is happy. we were getting news late last night they were going to leave early, the delegation a day early. now we're finding out the vice premier will have dinner with trump tomorrow or meet with him in the white house. that is great news. the talks are ongoing. we're not having delegation exit early.

i think you're right. all that is expected is medium term extension. stuart: why did nothing happen. >> this nba is such a great opportunity for america to wake up and say are we not already beholden to china? we can't even tweet, with freedom of speech in america and have the nba basically say, oh, no, we support china. they pull all the press before the preseason game happening in shanghai? this is ridiculous. we are already owned by the chinese. this is how we act when somebody tweets something out. stuart: would you as a market watcher, giving investment advice to many people in our audience, you would turn down a medium term deal at the expense of your investors and the market? >> no, no, stu. i'm not saying turn down a medium term deal. i'm definitely saying stay the course. i am 100% behind the president on this issue. stay the course. you're on the right track. the problem, stu, we're looking at day-to-day, month to month, quarter to quarter. long term a china deal will hurt

until we get it, right. this will not give us that much solid. it will be great short term. great he is having dinner and meeting. i expect more soybeans. 400,000 more soybeans. that is good for farmers. that is great but we are talking about massive change between our two countries. stuart: do you think it will happen? >> as long as this impeachment is out there china is going to be emboldened thinking they can outlast this president. stuart: impeachment is negative for the market? >> impeachment is a huge threat to the china perceives as this president's solvency basically. stuart: okay. that is exciting a block in the 10:00 hour. a lot of opinion being expressed. rebecca, thank you very much. >> thank you, stu. stuart: now on related to china, apple has pulled a hong kong police tracking app from the app store. this is days after it approved it. china called the app poisonous. it has been withdrawn. we'll have the story for you. new poll shows just over half the voters want president

trump impeached and removed from office. what is charles hurt going to say about that? he is on the show. legendary football coach, bob stoops he is with us too. he has an extraordinary success story. one of six children from a working class family from youngstown, ohio, he is all about not making excuses. you will want to hear what he has to say. yes, he is on the show. ♪. announcer: fidelity is redefining value with zero account fees for brokerage accounts. and zero minimums to open an account. at fidelity those zeros really add up. ♪ maybe i'll win ♪ saved by zero

great riches will find you when liberty mutual customizes your car insurance, so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: the president issued a tweet moments, i guess minutes ago i guess you could say. the chinese vice premier will meet with him tomorrow. big day of negotiations with china. they want to make a deal, but do

i, question mark? i meet with the vice premier tomorrow at the white house. that was taken as a positive sign. the market went up after the tweet appeared. apple, they have removed a controversial police tracking app, used in hong kong. they have taken it off the app store. that, susan, did apple bow to some kind of pressure from beijing. susan: some say they did because they received a lot of chinese main land criticism, peoples daily the propaganda arm, saying it was poisonous material, apple says look, this is what we discovered with the app which was only live, available for only a few days on the app store in hong kong. the app has been used to target police and ambush and criminals and target areas where they know there is no law enforcement. how the app works,hk map.live, i saw police car here, saw

ambulance here, et cetera, et cetera but some day they were using it to hurt police and also hurt citizens as well. stuart: tim cook is playing a very difficult tightrope walking game here because you have a huge business in china. obviously down want to offend them. looks like he is bowing to pressure in this instance. chinese called it poisonous. susan: they did, propaganda. stuart: i don't know -- susan: they have faced criticism before. they remove "the new york times" app in the past because it doesn't adhere to local rules and laws. apple said we're following the rules here. we don't set. we're just following what is done in china. stuart: stock's up two bucks. 229. close to all-time high. they're back above the trillion dollar valuation level. susan: up grades as well, from longbow and cowan. stuart: that is today? you got a couple bucks out of that one. ukraine's president says there was no black nil in the

controversial call with president trump. does that mean, ash there is no quid pro quo? ashley: no quid pro quo or blackmail or bribe. he said u.s. withheld military aid because of concern about corruption, concern about the taxpayer money, not linked to an investigation in ukraine involving hunter biden. that is a clear statement made by the ukrainian president. stuart: out this morning. ashley: yep. stuart: new poll from fox news. it shows 51% say president trump should be impeached and removed from office. charles hurt is with us, "washington times" opinion editor and fox news contributor. what do you make about that poll, charles? >> quite frankly, stuart i think it is amazing when you look at the coverage that all of this has gotten and incredibly unfair, borderline untrue coverage that this whole issue

has gotten in some quarters of the media. amazing the number isn't even higher than that. you know, a guy can only withstand a certain amount of this kind of hotly negative and again, a lot of it is incorrect coverage in the media and, hope to have better numbers than this. but i also think that if you, this is the limitation of polls like this, i also think if you drill down with those people that supported this, asked them, so what is it that donald trump has done wrong? your questions just reveal just now, about whether quid pro quo or blackmail or what have you, democrats can't even explain what the heck he has done wrong. so i don't, i don't know how much emphasis or meaning is behind answering a pollster's question about do you support impeachment. stuart: i agree entirely. i simply can't believe that a phone call results in the removal of office from our president. if you couldn't get rid of, if you couldn't remove from office

bill clinton for lying to a federal judge, heaven knows what in the oval office you can remove this president for a phone call? >> stubborning perjury is the other charge. it was very clear. the articles of impeachment, we all knew what they were. we don't even know what this is. democrats, nancy pelosi, adam schiff, doesn't even know what this is. and here's the thing, you got into this a minute ago. it is so important. you know, the degree to which this issue is impairing president trump as he deals whether he is dealing with turkey or dealing with china, it puts one hand behind his back. the chinese are looking at this. they read all of this. it is evidence that the democrats care more about their hatred of donald trump than they do about america winning and america doing well and competing against china and getting a fair deal with china or doing the right thing in syria. democrats hate donald trump more than they love america. it is a real problem.

stuart: that is, you're right, sir, you're right. charles, thanks for being on the show. thank you very much indeed, sir. appreciate it. next one, there is a massive illegal vaping bust in wisconsin. police seized nearly a million bucks in cash, 13,000 thc vape cartridges. we got the story for you. happening in our 11:00 hour, the cast of the wildly popular show, "gold rush," they're on the show. season 10 begins tomorrow. i will ask you guys, where do you make the most money, getting gold out of the ground or the tv deal? we'll be back. ♪. ♪

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stuart: we've got news on brexit. there is the market, our market. we have got interesting stuff coming in on brexit. not affecting our money, but what have we got? ashley: this is interesting, boris johnson meeting with irish prime minister, after a pathway to a possible deal. stuart: oh. ashley: a deal that is in everybody's interest. this is major stumbling block, the irish border, what to do to keep it frictionless. not to go back old day of hard border with border guards, et cetera. apparently there is perhaps a possible pathway. we've heard it all before. both sides say they will reflect further. stuart: border, northern ireland, republic of ireland, that is the sticking point. ashley: that's it, if they make progress, see a pathway here that is a big deal. ashley: huge deal. stuart: i don't think it affects our market. we're still up 150 points.

on the back of president trump's tweet. ashley: yes. stuart: next one. wisconsin woman, and her two sons charged with running an illegal vaping business. this is, they were, they were, they were making black market thc? ashley: they were. stuart: that is the source of the problem. ashley: that is a huge source of the problem. 13,000 thc vape cartridges. interesting, seven gallons of thc oil. authorities now say that the, those vape cartridges had between 71 and 95% thc. very powerful stuff. not to mention nearly a million dollars in cash. this follows on from a bust in wisconsin again last month where a huge amount of, 31,000 filled cartridges were found in that bust. we talked about the black market. people putting this stuff out with no controls at all this is the second big bust in wisconsin. it shows the extent of the problem. stuart: that, sr. with the problem comes from, the black

market. ashley: no one knows exactly what they're vaping. stuart: next one, california, large parts are in the dark. pg&e switched off power to 700,000 households this is to avoid liability from any future wildfires. we're there for you. we'll show you what the black out looks like. prices on chinese imported products go up, by say 10%, would you still buy that product? we have a survey on that, it is coming up next for you. ♪. ♪

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♪ stuart: do you like this? stuart: do you like this? ashley: i have a nice sound but not one of the most famous songs. stuart: let's get rid of it. it is kind of okay. but timid, isn't it on a day like this. ashley: timid. stuart: everyone in the control room loved the song. cut it right now. california cutting power for nearly 700 million holds. they're trying to avoid liability for wildfires. fox news's william la jeunesse is in malibu. what is it like there? >> well, stuart, we are under a red flag warning here in l.a. county and ventura as well. 70,000 could lose power here. whether in southern california or up in the bay area, the situation is the same. you have devastating wildfires last year. you have millions, if not billions of dollars in liability

claims. you have the high wind forecast for today and tomorrow. so the utilities are trying to mitigate their risk, turning off the power, proactively to protect shareholders and their rate-payers and their customers. now some are calling it unnecessary, excessive, indiscriminate. it is their own fault for failing to upgrade their equipment and vegetation management and under the transmission corridors. if you're looking at the map, looking at roughly 800,000 customers statewide. now some people are regaining power. others will lose it today as this weather system moves to the south. three years, 2,000 fires have been started by electrical lines and equipment. so pg&e which as you know filed bankruptcy, southern california edison, san diego gas and electric, all of them are in this situation. this is the trade off. if you want to protect the public, you have to turn off the power. it is better than obviously

going through wildfires and the damage that it causes. that is the situation here. many are saying this is the new normal. some of the utilities last night were blaming the climate change for changing conditions. they said they're making upgrades but this is a situation, a lot of people in california aren't happy about it. on the other hand, look at the alternative. stuart? stuart: well-said, when in doubt blame climate change. william la jeunesse. thank you. small item of news about california. wait for it. they are banning those little schaap poo bottles we get at hotels. serious stuff. serious stuff. susan: speaking of protecting the environment, california is, who is still shaking his head off-camara, 2023, hotels with more than 50 rooms, can't use single use small, plastic

toiletry bottles. marriott said they would stop use iting by the next year 2020. they will eliminate 200 million of these plastic bottles by 2021. walt disney will get rid of plastic shampoo bottles on cruise ships. stu continues to roll his eyes. stuart: that will fix the climate. that will fix it. no more shampoo bottles and plastic straws, they are appalling. susan: plastic bag, you charge somebody five cents. stuart: i will be silenced. i will no longer be sarcastic. ashley: i don't believe it. stuart: doug schoen is with us, fox news contributor. all right, doug, welcome to the show. >> hi, stuart. stuart: california, it has been run by democrats at least a generation top to bottom. >> true. stuart: up the highest taxes in the nation. >> you do. stuart: highest rate of poverty in the nation. you have 4-dollar gasoline.

actually $4.18. >> how about we throw in homelessness? stuart: throw in homelessness in los angeles and san francisco, now a blackout because you hate utilities. what are you people, what are you democrats doing to the great state of california? >> well, what i would say is what's not being done because we're using environmentalism as a claws or clause for avoiding responsibility of the utilities to be good corporate citizens, upgrade their power lines, insulate them, put them underground where possible, here, say, oh, we're worried about fires, we're turning off the power, to me is abrogation of anyone's responsibility. stuart: you think environmentalists have any responsibility for the wildfires? >> i think we all do, so yes. stuart: do they have a responsibility? >> yes, of course. stuart: but nobody is suing them, are they? nobody is suing them, i'm out of juice because of you? >> i'm less concerned with suing environmentalists than everyone working together for solutions rather than blaming the climate

and not doing anything constructive to fix the problem. managing the vegetation. no one is talking about that. stuart: not allowed to do it. environmentalists, greens went to court to stop utility of getting rid of the fuel for those fires. >> right. that is ridiculous. stuart: so now we're planning plastic bottles and shampoo bottles in hotels and planning plastic straws. doug, that is pathetic. >> insisting jenetteally modified foods being banned that everyone should eat organic at prices we can't afford. stuart: that is warning signal, your state run by democrats for generations you end up like that. >> this is bad policy i happen to be a democrat and a proud one, but to me this is policy run amok, not a political party that needs to be blamed. stuart: oh, okay. that's it? you still a democrat? >> i'm still a democrat, and hanging on for dear life.

stuart: if warren is the candidate will you vote for her. >> i will not vote for elizabeth warren. stuart: bernie sanders? >> will not vote for bernie sanders. stuart: joe biden. >> could vote for joe biden. stuart: do you think he makes it to the end? >> no, i don't. stuart: who so are you going to vote for. >> will get you on the ballot. stuart: will you vote for trump? >> i have trouble what is going on northern syria and afghanistan. i believe in muscular foreign policy i don't believe in getting the troops out. i worry about iran and protect israel in the middle east. i don't think he is going about it the right way. i agree with a former frequent guest john bolton who he dismissed. stuart: hold on a second. >> sure. stuart: listen to what hillary clinton said. this is what she said would happen if she ran against president trump in 2020. roll that tape. >> maybe there does need to be a rematch. obviously i can beat him again. i don't understand, i don't think anybody understands what

motivates him other than personal grievance, other than seeking adulation. stuart: maybe they should be a rematch, if there was, would you, got that look on your face. >> i do, i know. stuart: would you vote for her? >> no. no. stuart: is there any chance that she runs? >> i think if she saw a deadlocked convention or a deadlocked process, she would be in the race in a heartbeat but i hope and pray that doesn't happen and she doesn't run. stuart: i think you have a problem. >> she would lose. stuart: i think she would lose. >> i sense no learning from her about why she lost. it is all grievance, complaint, blame. she takes no responsibility herself. stuart: okay. doug, still a democrat. we'll leave it at that. >> holding on, stuart. holding on for dear life. stuart: i was going to fill out the sentence. thank you very much indeed. one last thing about the california blackouts. generac, the generator company, the stock has hit an all-time

high on the california story. they are a direct beneficiary of the widespread power outages in california. the stock is up 73% this calendar year. it is on track for its 29th record close of the year. up another 2% right now. check out netflix. ubs, lowering its price target on the stock. fox business's robert gray joins us. what is the problem with netflix, robert? reporter: well, stuart there is a lot of concern, they're basically joining a chorus of concern about netflix, after all competition is coming and colling very soon. you've got disney plus and apple tv plus launching next month. a lot of concern about their subscriber base, whether they continue to grow it unabated particularly internationally as well as domestic and of course there is concern about the gross because last quarter netflix said they lost subscribers for the first time in 8 years. netflix reports earnings next wednesday. they will be watching that for

an update on their subscriber base. one of the things they're losing with all the new competition, pricing power. they raised prices a lot past couple years. they will do that more easily with a lot of competition. stuart: thank you, robert. let's get back to china trade. if there are more tariffs on consumer goods coming here from china, by the way extra tariffs are due to go into effect mid-december. if there is no deal made, tariffs go on, will we buy the newly high her of priced products. >> that is good question. stuart: will we? >> a new survey says 40% of consumers, you know what, we'll buy what we need even if the price is higher than a 10% increase but 60% of people said you know what, we would reconsider it and maybe not shell out the money for it. 24% said unequivocally, no i will not buy the product if the price goes up more than 10%. the tariffs are set to go in at 15%.

stuart: what is the number who said no, not buying period? >> 24%. stuart: 24%. >> the consumer represents 2/3 of economic activity. this is a big deal. 90% of people said we'll wait. we'll not try to shop on black friday or get deals or make ourselves crazy. we'll wait until we regularly shop, if we don't like the prices, we won't do it, we'll buy less. stuart: there you go. china trade deal or no deal has direct impact on holiday sales. >> absolutely. susan: national retail federation says impact of tariffs remains to be seen on holiday spending. stuart: by december 15th you will see an impact. >> more consumer products, affect more people, i feel like the national retail federation has a little bit of incentive to say that. stuart: they have an axe to grind. thank you, jackie. no excuses. that is the motto national championship winning football coach bob stoops lives by. the secret of his success.

the oklahoma football legend shares his story next. ♪.

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welcome to the program, sir. great to see you. >> thank you, stuart. thanks for having me on this morning. stuart: we love success on this program and i know that you are an american success story. tell me how you got started. give me 30 seconds how you got to where you are now? >> you know, grew up in a steel milltown, rough steel milltown of youngstown, ohio. played football in high school, basketball. to the a lucky break, got a scholarship offer to iowa to play football. i wanted to leave in my first semester. my father with a few choice words and tough love wasn't having it. i went back, started next four years at iowa. stayed there and coached with hayden frye and a bunch of great coaches for five years that catapulted me into my coaching career. stuart: the title of your book is "no excuses." i want to know how you behave in the locker room in the middle of the game?

do you shout at them? do you berate your players? or what? >> no, there is no berating. that doesn't work. more getting them to understand what is working, what is going well, let's keep doing this. what hasn't been correct you get them to understand, more than learn, what hasn't been working and why and let's get it corrected. stuart: but you won't accept any excuses. will you accept the other side of the coin, a reason? >> no. you either succeed an win or you don't and at the end of the day there is a lot of good excuses out there. but all they do is try to justify failure. we have nothing to do with it. it was plastered across our weight room wall, no excuses, for my entire career. you got to find a way to succeed. stuart: i'm looking at the sporting world right now and i see a lot of athlete very ready, willing, able to be sharply and harshly critical of president trump. the other side of the coin is, i

don't see any athlete willing to be critical of the communist dictator known as xi xinping. how do you explain this? >> well the almighty dollar is pretty powerful. so at the end, the end of the day that is what a lot of this gets back to is, who is paying who and what the price tag is. stuart: a little disappointed maybe? >> sure. i would never, you never would think freedom of expression would ever, in our world, here in america, there is no price tag for it. stuart: bob. it was a real pleasure. honor having you on the show. i have a foreign accent. i know that. that you are a legend. a great honor to have you on this program today. thanks for coming, sir. appreciate it. >> thanks for having me, stuart. stuart: see you. thank you very much. new poll, president trump trailing joe biden in wisconsin. whoa. that is a farm state, a

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♪ stuart: check out the big board. holding on to that triple-digit gain. the dow up 150, 160 point. it has been that way since president trump issued what is regarded as a trade positive tweet. stock of the day, bed, bath & beyond. it is up 22%. they poached a target executive to come over and be the ceo of bed, bath & beyond. come on the phone, seth basham, hard-lines retail equity research analyst. seth, you put a target price of bed, bath & beyond at $16 a share. that was a week ago. are you raising the target now? >> right now we've maintained

our 16-dollar per share price target on the stock. we think the move today is well-deserved. it is a first step in the right direction for this company which has been flailing for a number of years. i think the new ceo has potential to really turn this company around. stuart: now, so his name is mark triton, i'm not sure the pronounciation, coming over from target and you think he will be able to turn bed, bath & beyond around? you're in favor of this guy? >> i certainly am. he has experience and wherewithal to lead the charge here at bed, bath & beyond. his mid-s experience is top-notch. his omni challenge experience is top-notch. he executed the target strategy that need to be executed at bed, bath & beyond to turn this company around f he is able to do this same thing the stock has a lot more value than $16 a share. stuart: seth, thanks for joining us. sharp to the point, just the way we like it. appreciate it.

a fox poll and it shows that president trump trails, he is behind joe biden in wisconsin by nine points. that's wisconsin. former wisconsin governor scott walker joins us now. all right, governor what's the problem for mr. trump in your state? >> well, remember the market university poll back in november of 2016, days before the election had hillary clinton winning by 6 points. so i think you see here in wisconsin across the midwest republicans tend to fare a little bit worse in the polls, i think even more so with this president with donald trump just because people are intimidated in many ways to tell pollsters or anybody who they are for. if you get the message out, particularly if he is able to sharply contrast that, whether joe biden or elizabeth warren or bernie sanders. each of them proposing socialist policies that would be devastating to wisconsin manufacturing workers and farmers. i think in the end he can win. it will be close just like it

was in 2016 but he can win here in the state. stuart: is the usmca, and it hasn't been voted on yet, it has not been passed yet, is that a problem? wisconsin is clearly a farming state, it's a manufacturing state, those two industries, those two areas are directly involved in the new nafta? >> we definitely need a vote in favor of the new trade deal with mexico and canada. prime example of this president's leadership, back 2017, we had price controls, on filtered milk in canada was devastating to people here in the state. this president took note of that he head out to the end of the negotiations with the deal on the table, they just need the votes. democrats and republicans alike will vote for this if speaker pelosi will only hold a vote. unfortunately she is occupied with extremely partisan impeachment inquiry, that didn't

even have a vote to justify it. this is about politics and liberal fund-raising. we need for farmers and manufacturer as fair trade deal for them in wisconsin and throughout the midwest. stuart: governor scott walker. thank you very much. >> my pleasure. stuart: ukraine's president says there were no bribes involved when he spoke with president trump on the phone last summer. will that satisfy democrats who are gung-ho on impeachment? i don't think so. we'll ask bret baier, however, he is on the show. special guests "gold rush" "the discovery channel"'s most successful show. we got the guys on it. we have tony beats on the show. parker is on the show. ladies and gentlemen, not only that, they will be in the studio with me. i got a feeling however they make more money on the tv show than they do out of gold. we'll figure that one out when they're in the studio. back in a moment.

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stuart: america, the only game in town. you hear that a lot, and it sounds like boasting, though, doesn't it? well, it may be a little but it's not an idle boast. when it comes to the economy and the markets, america is indeed way ahead of the pack. consider this. america's economy is much stronger than europe or japan. we're growing, they are close to recession. that has a big impact. europe's unemployment rate is double that of america. 3.5% here, over 7% over there. even china has a higher unemployment rate. our stock market remains close to record highs. elsewhere in the world, not so good. our bonds pay interest, what a concept. over there, they don't. in fact, you lend the government money over there and they keep some of it and they pay no interest at all. our currency, the u.s. dollar is

king of the hill. despite impeachment, rampant trump hatred and a do-nothing obstructionist congress, america is doing very, very well. you're going to hear about that tonight, when president trump holds a rally in minneapolis. he's going to the belly of the beast. a bastion of trump haters. don't expect him to hold back. this will be a defiant trump and why not. it is his policies which have delivered this high performance economy. it's his tax cuts and deregulation that delivered nearly $10 trillion of extra wealth and it's his forceful negotiating which we hope will deliver favorable trade deals. the election's only a year away. the president's likely opponent is a socialist who, in my opinion, would wreck the economy and your 401(k). mr. trump is right to go to the mat for you, because america is the only game in town. third hour of "varney," going at it.

stuart: well, you heard it loud and clear right there. america, the only game in town or the best game in town, choose your word here, but you will hear more on that in a moment. first, though, the markets. look at this. we are way up. this started right after president trump issued a tweet and it said he will meet with china's vice premier tomorrow at the white house. not going to go home. no, he's at the white house tomorrow. that's regarded as a positive. the dow is up 216 points as we speak. market watcher heather zumarraga is with us. heather, look, there's a lot of talk that we might get a partial deal. we do something on tariffs, they buy a lot more of our stuff. if that were to be announced, does this market go straight up? >> well, this market would go straight up, as the market is coupled in lockstep with any chinese trade talks or

negotiations that are in positive or negative direction, but i think it will take a lot more than china just buying more agricultural products from the u.s. for example, for the u.s. to agree to not imposing tariffs, the next round of tariffs is set to be imposed october 15th, of $250 billion worth of goods, additional $250 billion more. but look, if it was all about just buying more commodities or buying more ag products i think we would have had a deal 18 months ago. stuart: okay. supposing there is absolutely no deal at all. the chinese go home, we stay where we are, no deal, period, no deal. does the market go straight down? >> i think the market would decline if there are not steps in a positive direction. for example, delaying the tariffs again on october 15th. i think if you delay the tariffs, the president before said hey, we're going to save christmas, then out of respect for the chinese 70th anniversary

of the peoples republic of china on october 1st, suspended them until midmonth, so another suspension would be a positive. we don't necessarily need a deal tomorrow from the vice premier. stuart: wait a minute. i'm not clear here. i'm not clear. are you saying this market goes up whether we get an intermediate deal or no deal at all? you think the market goes up anyway? do you? >> you just made a strong case for the u.s. being the best place in the world to invest right now so i think that the economy, although the manufacturing sector has slowed down, i think we're on solid footing. so yes, if we delay these tariffs, i think the market goes up. stuart: that's a partial deal, isn't it. >> it is a partial deal. it's more of a hold. it's saying we're not going to impose any more tariffs right now but that's not the end of the negotiations because just buying more agricultural products alone is not enough to address the grievances of intellectual property theft, forced joint venture, now the human rights violations.

those are at the heart of the issue. it's not just buying more goods and services from each other. stuart: i want to make sure i've got this right. if we get an intermediate small-scale deal we go up a little bit. if we don't get any deal of any kind at all, any kind, we still go up a little bit, is that it? >> you make a very optimistic case. stuart: wait a minute. it's a very simple question. if we get a short term modest deal, we do something on tariffs, they buy our stuff, you say the market goes up. okay. if we get nothing, everybody walks away, in a bad temper, no smiles, they just stalk out of the country, you still think the market goes up? do you? >> well, over the long run the market will go up but no, the market will decline if we impose the tariffs on october 15th. so it's all about the tariffs being imposed. a partial deal matters but that's not the end game. you need more than that. stuart: let me talk to you about

the nba and china. what do you think american executives should say and do if they've got a large stake of their business in china? >> well, i love that we can talk that any american sitting at home right now that didn't know about why the u.s., some of the reasons the u.s. is imposing tariffs or why the protests are happening in hong kong, now the nba has shed light on that, and there is a complete double standard, as you alluded to, with american companies doing business over in china such as nike or amazon, for example, and then while at home saying hey, we need to look at our environmental footprint, let's kneel during the national anthem because of police brutality or potential racism in the country. you need to travel -- people need to travel abroad and understand that china has human rights violations that are off the charts. three million people are in

camps right now just because of their religion alone. the hong kong protest is about maintaining their separate one country but two systems, their freedom of speech and freedom of expression, so there's just such a double standard for a company like amazon to be protesting about their environmental footprint which you do get a lot of boxes at amazon at your door and you can improve the situation, but they are selling a whole lot of nike shoes over there and a whole lot of amazon goods and iphones over in china and there's a complete double standard. stuart: okay. heather zumarraga, see you again soon. thank you very much. back to the market. we are up 226 points. i think that's the high of the day. amazon is up, alphabet is up, apple up, 225 up for the dow. now, we follow big tech very very closely. my question here is, is american big tech helping in china's censorship program? are they helping them do that to

their own people? deirdre bolton with us. deirdre: yep. there are experts i prnlersonal reached out to and spoke with and they say yes. i will mention one i spoke to, countries who have bowed down to surveillance and censorship make it easier for china to convince other foreign companies to do the same. he is saying that companies such as apple and microsoft, while they are not playing ball with china mainland, they are certainly playing a few innings and he said that is actually damaging to the global business community. another thing that he told me, a few human rights organizations i checked actually backed up the research, censorship is up in the past seven years under president xi jinping. you have stories of university students in vancouver posting something online, the police show up at their parents' house in china. stuart: okay. got that. so, got that. ashley, i want the story about apple pulling the app which helped protesters in hong kong locate the police. ashley: yes.

hkmap.live basically helped people who contributed to see where authorities were, where police were, where the action was going on around the city. chinese state media went nuts over this, warning apple in its opinion pieces that they would suffer the consequences for its unwise and reckless decision to have this quote, poisonous map app. in response, apple indeed did pull down that app, saying they realized it's being used in ways that they say endangered law enforcement and residents in hong kong. stuart: apple's stock is up this morning. the market is very sharply higher. 240 points up for the dow industrials. we've got a huge show coming up for you. discovery's top rated show, "gold rush" returns for a new season. is there more money in gold mining or in television? three of the stars of the show will join me in this studio later this hour. ukraine's president says president trump did not blackmail him during their infamous phone call.

bret baier will comment on that. where does that leave impeachment? we ask dan henninger. his piece this week is all about the democrats' war on the president. first, we will talk to matt schlapp. president trump heads to minnesota tonight and i say we will hear a defiant president trump this evening. stay with us. third hour of "varney & company" rolling on. ♪

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stuart: high of the day, almost. we're up 250 points for the dow. we're up 75 on the nasdaq. we are up 27 on the s&p. because president trump issued a tweet this morning favorable to the china trade talks. now then, president trump is going to be in minnesota tonight. this is another keep america great rally.

i think he's going to strike a defiant tone against impeachment, against the media, and i think he will tout america as the real, the best game in town. that's my expression. matt schlapp is with us, american -- i'm getting ahead of myself. sorry about that, matt. look, i think the man is defiant, i think he makes a very strong statement about him and his administration. what say you? >> i don't know. i think he might bring up the nba. think there's a possibility, stuart? stuart: wouldn't be surprised. are you serious? why would he want to step all over the u.s./china relationship when we're in the middle of these trade talks? >> no, that's a very good point and it's clear that he does accelerator and brake. he's trying to put as much pressure and leverage on the regime in beijing as possible. by the same token, he realizes we have a complicated economic relationship with china and he knows that going into re-election next year, if he could have the positive, the

tonic on the american stock markets by having some kind of deal, i think he would use that as a big win for him. stuart: what do you make of this new fox poll which says 51% of voters support the impeachment and removal of president trump? what do you make of that? >> i don't want my fox friends, including those that handle your polling, to be upset with me but i did look at the poll in some detail last night over dinner, and found that there was some good news there for trump. first of all, this poll is skewed democrat by about ten percentage points. it does not reflect even where the country was from an r/d breakdown from 2016. this happens when you do polls. you get a sample and sometimes it's not going to reflect where we're going to be election night 2020. so there's very good news in this poll. matter of fact, in this poll, the president's approval rating is about where the realclear

politics puts it nationwide, which is higher than where obama's was at this point in his presidency. so a poll that says the american people want to impeach and remove donald trump that has his popularity rating higher than obama's means that there are some issues there. stuart: also, i just want to mention, there's a lot of people who will not admit that they support president trump and will not answer polls if you say who you going to vote for. lot of people are unwilling to say president trump. >> yeah, that's exactly right. i always say when you look at trump's numbers and if you say they are at 43 perce%, you can add a couple points to it easily because we all have people in our lives who either won't admit that they are for trump because society just piles on them and all these left-leaning institutions pile on them, and also there are people at the end of the day, they know donald trump is doing the right things for the country even at times they get a little queasy with the way he's doing it. stuart: i'm dying to hear what the president has to say tonight. i wish i could be there. matt schlapp, thanks for joining

us. see you soon. >> thank you, stuart. stuart: sure thing. let's have a look at netflix. the stock took a dip earlier this morning after ubs lowered its price target on the stock. now it's gone up eight bucks, 3%, because goldman sachs remains bullish on their subscriber growth. netflix, by the way, reports next week. we should bring you up to speed on the price of the stock as of right now. up eight bucks. then there's cannabis stocks, marijuana stocks. down big. that's because of a company called hexo, h-e-x-o. a canadian pot distributor. they cut their forecast, blaming slower sales and the black market system regaining some steam in canada. the rest are following hexo down in sympathy. marijuana stocks down today. "south park" fired back at china after the country dropped the show for supporting hong kong protesters. wednesday night's episode contained an obscene response, directed at beijing. we will play you the clip,

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down today because of a demand problem in canada, and a very active black market still operating in canada. there we have them on the screen. look at hexo, canadian company. that is 23%? 22%, canopy growth, a cannabis stock leader, that thing is down almost 8%. the other ones are all down across the board, they're down big time. how about apple. i think we just hit a 52-week high. yes, we did. $230 a share. up three bucks. 1.4%. 52-week high on apple. now this. "south park" firing back at china after beijing banned the series over comments about the hong kong protesters. now, watch this scene from last night's episode. roll it, please. >> i'm never working for a company that's regulated by a communist government. >> okay, okay. no more selling to the chinese. >> then say it. say [ bleep ] the chinese government. >> [ bleep ] the chinese

government. >> i didn't hear you. >> [ bleep ] the chinese government. there! >> well, you just got your partner back. stuart: okay. i think we get the point right there. looks to me these guys at "south park" are choosing principle over profit. deirdre: they certainly are. we do want the make the distinction, though, that "south park" and its streaming rights in china do not come anywhere near the amount of money that two big be theitech companies, gets 20% of its revenue from china so they have to play ball with the chinese government. microsoft has been up and running in china since 2009. they agreed to certain parameters. the "south park" clip of course has been completely expunged from any chinese media. it is as if it never existed. obviously we saw the spiceiest part of the clip. the other part is one character yelling at another for selling

pot to china, then essentially making fun as we know -- stuart: i don't care how much they lose in china, they growing to lose something. they've got the guts to get out there and do it. deirdre: it's taking a stand. stuart: unlike some others. high level trade talks are continuing in d.c. as we speak. the president has announced via tweet that he will meet with china's vice premier tomorrow. that's what sent the market sharply higher. you can see the chinese delegation walking in there along with secretary mnuchin. that put the market up 230 points as we speak. however, meanwhile, the democrats continue to push for impeachment. dan henninger says, "wall street journal" guy, says they're all in, the democrats, all in on impeachment. he calls it a war on trump. he joins us next. ♪

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cost. and, you may be able to save on dental and vision expenses, because coverage is now included with most humana medicare advantage plans. you get all this coverage for as low as a zero dollar monthly plan premium in many areas. and your doctor and hospital may already be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you can save on your prescriptions and to get our free decision guide. licensed humana sales agents are standing by, so call now. stuart: still above a 200 point gain. that's a .85% rally. that's pretty much the same all across the board. here's the presidential tweet from about 90 minutes ago that sent the market higher. quote, big day of negotiations

with china. they want to make a deal. but do i, question mark. i meet with the vice premier tomorrow at the white house. edward lawrence is right there at the talks. they have been there for two and a half hours. any news at this point? reporter: at this point, we haven't heard what's going on inside but oh, to be a fly on the wall inside there. some good will on the way in. we saw smiles on the way in from the vice premier liu he as well as the u.s. trade representative robert lighthizer and steven mnuchin. our chinese sources say during the deputy level talks, there was no real progress. we are really interested in how this meet and greet would go. look at this. look at how this sort of unfolded here. i will show you this video. it's very unique where they are actually coming up, shaking hands and then posing for pictures. that is something that i have not seen in the trade talks, these trade talks, in the past 19 months. every time they have come here, we did get a smile and a wave once but this was actually a pose for pictures. then we heard some from the

media calling handshake again, handshake again, kind of like the red carpets at the oscars which i have covered the oscars before, it sounded like that as the calls were coming from the media and they obliged, turning and making that handshake again here. so looking to see, though, what kind of indication of progress could be made out of this meeting. they are still talking inside so that is a sign of progress. you heard the president say he's going to meet with the vice premier tomorrow, indicating that the chinese delegation will be staying here overnight, and then possibly having more negotiations tomorrow to see how this goes. the chinese or the u.s. wants to see what the chinese comes to the table with, what kind of concessions are put back in the deal, and these are concessions that the u.s. trade representative says they deleted in the deal last may. that will be the key in going forward for the u.s. back to you. stuart: when you start talking about body language, smiles and posing for the cameras, it could be grasping for positive straws right there. but nonetheless, we will take what we've got. edward, i know you will stay there all day. we will get back to you later for the headlines. thanks very much. okay.

it's thursday. yes, it is. that means dan henninger's on the program. with his new piece from the "wall street journal" and today, it's a good one. they are all good but this is exceptionally good. it's called "world war trump." this has got to be about the democra democrats, no holds barred going right after trump. is that what we are going to see for the next 13 months? >> yeah. i think that's where we are. but there are two armies in this war. one is the trump alliance and the other is the democratic alliance. and i think it's fair to say that the democratic side has been at total war with trump since inauguration day. this is a war that's had theaters. the russian collusion theater, the obstruction theater, i think by and large the trump side came out ahead of that, took some casualties, lost some people but now we are in the impeachment theater and both sides i think their strategies are becoming more and more clear. on the democratic side, i think what they are going to use -- i think impeachment is just one

weapon that they are going to use, a big weapon against trump, which is to make the trump presidency increasingly intolerable to the 10% or 15% of voters who probably are going to decide the election. they are going to run up the white flag eventually and say we can't take the trump presidency anymore, it's too volatile, it's too intense. stuart: will it work? this no holds barred go after him on everything, impeach him, do everything you possibly can, will that work? >> well, we will get to the trump strategy in a second. i think yeah, it is a plausible strategy, at least the polls suggest that it may be. i mean, you know, the impeachment has moved beyond 50% in the fox poll and the "wall street journal"/nbc poll of people supporting an impeachment inquiry moved over 50%. so i think this impeachment weapon seems to be moving in the right direction for the democrats. the question is, whether it will get so grave, i mean, i see the politics right here. i understand that, just making

trump intolerable. but impeachment is a grave constitutional issue and people may back off eventually. stuart: what about the president's response? defiant. i ain't playing ball with you guys. >> yeah. well, i think the president's campaign response is becoming clear. that had a lot to do with joe biden, and i do think some of this ukrainian activity was intended to damage joe biden, reduce his prospects of becoming the nominee and elevate elizabeth warren, who i believe the trump white house thinks is unelectable. he would love to run against elizabeth warren and he has been saying this in rallies recently. he says to people you may or may not like me, but you are going to have to vote for me to protect your 401(k). he's obviously talking about elizabeth warren. and that, too, is a plausible strategy because she probably is a clear and present danger to people's 401(k)s. stuart: i have to ask you the question i have been dying to ask you, by the way. if elizabeth warren is the nominee, could she win the election?

>> i think -- stuart: could she beat trump? >> i don't think so. i think she's unelectable. i have friends, though, who argue she's got a very compelling message about corruption. there are people out there who are upset about it. there's sort of a core of voters that think capitalism needs to be reformed in some way. but personally, her plans, there is no pro-growth element in her plans. none whatsoever. i think trump is going to make a very compelling argument that we have seen an extraordinary economy create jobs, create a labor shortage, and that elizabeth warren will threaten all of that. stuart: never thought we would see the day where i sat next to you talking about a socialist as the flag bearer for the democrats in a presidential election. never thought we would get there. >> this is what we are going to go through every day now for the next 13 months. i think a lot of the rest of the policy fights that would go on in washington have become secondary. this is the total war, this is world war trump. stuart: you want to be on the show next week? >> absolutely. stuart: okay. come on back. >> to be continued. stuart: thanks very much indeed.

all right. now, we have seen our fair share of tech startup chief executives whose actions really hurt the ipo. not in a good way, either. really hurt them. this has convenient cventure ca thinking of ways to avoid controversy before a startup goes public. bradley tusk is with us. bradley is the man who us an early investor in uber. weren't you? >> i was. stuart: did you manage to get out? here's the question. did you see the problems coming? >> i saw that once he left, for all the flaws he has, he took most of the energy and momentum and innovation with him, and if you are going to bet on a tech company, you are betting on its future. if it's being run by somebody who is a really good manager and bureaucrat which is what they have now, but they don't inspire faith in what they can accomplish going forward, it becomes a very hard sell on the stock. so i divested as much as i possibly could. stuart: so if i'm thinking of investing in airbnb, i really like the business idea, it's a

whole new industry, i would like to get into it, what i should be doing is looking at the management? >> for sure. look, i invest in my fund in series a and c stage companies. basically we are making [ inaudible ] every single time. we are saying we believe this person is so extraordinary, so talented that they can take this crazy idea and turn it into a reality. sometimes they do, sometimes they don't. lucky for our investors, they do more than they don't. stuart: do you meet them personally? >> yeah, of course. we do. i meet them and everyone on my investment team meets them. we go through a pretty long, rigorous process. stuart: what are you looking for? >> i want someone who a, has a really big idea but then, b, a mix of the will and the diligence and the kind of chutzpah to push it through. if you take him as an example, he broke a cartel in the tax industry. stuart: you helped him. >> yeah. i managed to help him do that. so you want someone tough enough to do that but also someone mature enough that they won't

act like a typical 25-year-old silicon valley entitled brat in the way adam neumann did and make a lot of stupid mistakes. stuart: would you have invested in elon musk's companies way back when? if you had met him and interviewed him extensively before he went and ipo'ed? >> i would like to think i would have. even now if you look at the market value of tesla or private valuation of space x, they are very very high. it's not quite clear to me why space x is a $31 billion company or what justifies tesla's market cap. i don't know if they are a good investment even today. i love that elon is doing things that are sort of interesting and potentially useful for society. so he's a really exciting guy. i worked with him and i like him, but is that a good investment? i mean, you got it at series a, absolutely. right now, i'm not so sure. stuart: we have to wait to see your handling of steve jobs a little later. i met him in the 1990s. bradley, thanks for joining us. always appreciate it. thank you. staying on uber, yes, we are. they just launched a new program

called uber pet. you can bring your dog with you? deirdre: you can bring your dog with you. and $3 to $5 surcharge, october 16th, close the a dozen cities are participating. new york is not one of them. you still have to put your dog in your tote bag and pop in the subway. stuart: it's a big deal. lot of people want to take their dog around. deirdre: they certainly do. before you kind of always had this last-minute negotiation, you know, uber driver might pull up, see you have a dog and just hit cancel and kep goiep going. lot of taxis don't want to be bothered. obviously if you have a support animal, that goes without question. but these are for people who want to bring their pets. stuart: the stock is back at $28 as we speak. all right. big story from california. pg & e has turned the power off to 700,000 households. it's to prevent wildfires and prevent the liability from wildfires, as winds pick up out west. we will discuss that. we are going to be joined, this is important, we are going to be

joined by the stars of the discovery channel's top show, "gold rush." they're on the program. they have a new season beginning tomorrow. they are here in new york with me. guys, i have been watching for years and years and years. these are genuine stars. they're on this program, for heaven's sake. i gush about this. all right. first, though, we will talk to bret baier. the ukraine president says there was no blackmail but the impeachment push continues. that's next. ♪ this is the age of expression. but shouldn't somebody be listening? so. let's talk. we're built for hearing what's important to you, one to one. edward jones. it's time for investing to feel individual.

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why? deirdre: part of it is a dry run, if you excuse the pun, to be prepared for the next time there are wildfires coming through. winds are up, humidity is down, so the conditions are ripe, unfortunately, for fires to continue. remember the last two years, there was absolutely no other way to say it but emergency conditions. but you have people right now in northern california, at least half a million homes right now already in the dark. people are talking about having bought $150 worth of groceries, the power goes off, they've lost that. people saying i can't really afford this. however, it was telegraphed, we want to say -- stuart: wait a minute. they have done this because they are bankrupt, they were bankrupted by liability for the last group of fires, and they can't afford to take that risk. they can't put the juice on in these conditions. so they are afraid of liability. they are running away from liability. that's what they're doing. where does this leave tesla, the electric car maker? ashley: you have no power, how are you going to charge your electric vehicle. before this happened, pg & e had

put out warnings, so tesla itself sent a message out to all tesla owners saying the best thing to do is charge your battery to 100% and it should be fine because these rolling blackouts don't last forever and you should have enough power to get to the next one. what's interesting, you look at social media, some tesla owners are taking pictures of the lines from these charging stations, 10, 11, 12 cars ahead of you. how long does it take to fire these things up, i don't know, 20, 30 minutes. you're in that line for hours. so they are going to put in solar chargers and some independent batteries at those charging stations so in the future, the power goes out, you still have somewhere else to charge. stuart: tough to be in california. blackouts, $4 gas, high taxes, high poverty. tough place. next case. ukraine's president, he says president trump did not attempt to blackmail him for dirt on joe biden. bret baier is with us, host of "special report" on the fox news

channel. does this make any difference to the impeachment push? >> well, i don't know, stuart, if it does. good morning. i think the democrats have their sights set on what they want to do. but it's important in the general context of all of this. i mean, he is now talking to the media, saying this is the president of ukraine who is on the other side of that phone call, saying there was no blackmail, i didn't sense that there was a blackmail, i didn't sense that there was pressure. he says this again and again and again. he also says he doesn't want to get in the middle of u.s. politics. so zelensky is making clear that one, he didn't know that the aid had stopped. two, he didn't feel pressure on the call. and three, that he thinks the relationship with the u.s. is fine the way it is. stuart: it doesn't look like the democrats will back off on the impeachment push. we just had dan henninger, "wall street journal" guy, on the show and he says look, it's world war

trump. it's going to be war between trump and the democrats. is that what we can expect for the next 13 months? >> definitely. i think this place is going to be really tumultuous, i think it's going to get ugly at times, and we've already seen over the last couple of years this investigation into russia. this will just compound that with an informal impeachment inquiry. stuart: rather a grim outlook so we will change the subject. we love success on this program. we love american success stories. i think you've got a success story of your own. tell me how you came from, what was it, bureau chief in atlanta to your position today? >> well, i mean, before i got to fox, i bounced around small market tv, then i started in the atlanta bureau. the atlanta bureau started in my apartment with a fax machine and cell phone. bounced around the southeastern, south and central america. 9/11 happened, i was called back up in new york. the second plane hit, we were called to drive. third plane hit the pentagon,

rerouted to the pentagon and never left. that was the start of my time in washington, d.c. so that is the american dream. i think my definition of the american dream is the ability to dream, just like your guests with the "gold rush." the ability to dream and out-hustle other people to have opportunity and the freedom to be able to do that is my definition of the american dream. stuart: i'm with you all the way. i'm living the american dream. i'm very thankful for it. bret baier, we will watch you tonight as we always do, 6:00 eastern on the fox news channel. see you then. thanks, bret. >> see you, stuart. stuart: sure thing. the american dream is true for the gold miners who are on the show shortly. there is parker, that man. he's going to be on this program in minutes from now. so is tony beats. that's the man, the guy with the beard right there. these people are real stars. "gold rush" is discovery channel's top rated show. it's coming back for a tenth season starting tomorrow. you will meet these guys.

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i always knew i wanted to be a gold miner ever since my

grandpa taught me how. >> i have been talking for years now about going on my own. >> there's gold out there. we're going to find out. >> give me one good reason not to tell you to go [ bleep ] yourself. >> are you prepared to change? stuart: we have to get that little bit in. there's parker, of course. i really wanted to be a gold miner. he's here. that was a clip from my favorite show. i binge-watch that stuff. that's digging for gold, it's called "gold rush." it's a terrific show. it is on the discovery channel. new season premieres tomorrow. we've got the stars sitting right next to me here. i want selfies. tony is with us, the man with the beard. parker is with us, he's basically a heartthrob and very rich guy. and rick is with us. you are the man who is the real tough guy, aren't you? all right. i'm going to go round the block here, start with you, parker. >> i'm glad i'm over here. stuart: this is a sensational

show. it's a wild hit. what do you think is the secret? >> i mean, tony and i were talking about this this morning. it's actually, you just really never know what you're going to find. i think that's why it's been such a big show. it's just sometimes you have an amazing week, sometimes you have an absolutely terrible week and there's not too many businesses like that, right? you clock in and get a paycheck. stuart: tony, i know what your secret is. you are a hard nut. you are a hard nut. you will give anybody a hard time if they merit it. sometimes when they don't. am i right? >> that serves me well. stuart: speechless. the man is speechless. okay. rick, what's your secret? >> secret to what? stuart: to the show's success. >> i really don't know. i'm just out there doing my thing. stuart: i'll tell you what it is. it's one of the best produced shows i have ever seen. it tells the story all the way

through and everybody's interested in how much gold you actually are going to find. here's my question. have you made more money mining for gold or doing the tv show? will you tell me? >> oh, i mean, mining for me. stuart: really? >> yeah. stuart: what do you mean? you don't get paid? >> we get paid to do the show. i wouldn't do it for free. you do this for free? stuart: no. but surely you get more for the tv show than you do from gold mining. >> not me. they don't pay us that well, you know. stuart: really. >> no. discovery is actually -- i shouldn't. they're probably watching. i'm going to stop right there. stuart: while you're still ahead. you make more money from tv or gold? which is it? >> gold mining. stuart: really? >> yeah. stuart: how many ounces of gold in any given year do you have to find before you make a significant profit?

>> it all depends how many people you have, but ten out of ten, you make more money mining today than you do -- stuart: what was your best year, your best season ever? how many ounces did you pull out? >> best season ever was 8,000. stuart: 8,000. you talking about 10, 12, maybe $15 million. >> $250, $300 gold. little too hungry at the time, i guess. stuart: will you admit to making more from tv than you do from your share of the gold? >> i make millions of dollars from making the tv show. no. obviously like parker said, we don't do it for free, but the money's in the ground. that's why we're out there digging it up. stuart: let me go round the block. what do you do with all the money that you've made? are you an investor in stocks, or you just plow it all back

into the gold mine? >> i pour it all back in the mine site. i don't even own a house. stuart: you don't? >> no. stuart: what do you do in the off season? >> i'm just a bum you know. find a street corner to hang out on. stuart: i don't believe a word of it. >> i don't own a house or anything. stuart: i believe that. >> got a lot of nice equipment. stuart: do you invest? no? you plow it all back in? >> give it to the wife. stuart: that's an investment. all right. so the next season starts tomorrow night, i think. give me the surprises in the next season. >> they wouldn't be surprises if we give them. stuart: you have to give it to me. >> no. stuart: mr. beets? >> no. you just have to wait and see. stuart: come on. >> i'm on different ground. different area. stuart: that's it? that's all? >> it's different. >> we're not very good salesmen. we do not have a future in sales. stuart: i've got to tell

everybody, these guys just flew in from alaska. they haven't spoken to many human beings in the last seven or eight months. they are mute. i'm not. more "varney" after this. ♪ . .

stuart: to be honest with you i'm trying to recover from the gold rush guys. i'm a huge fan of the show. i actually binge-watch it. you do too? >> i do too. it was a big thrill to meet those guys. by the way i think his last name is beats the guy with the cap. gave me a handshake. like shaking your hand with grizzly bear. stuart: good stuff. great to have them on the show. let's wrap this up with the market, with a nice rally here. the president issued a tweet which seemed quite positive about the china trade talks. he will meet with the china nice

vice premier tomorrow. that is new. the market is boeing straight up. we're holding the gain. 220 points higher. we say good-bye from us. neil, it's yours. neil: all right. not too shabby. we're still up 222 points as stuart said here. maybe the kind nice talks was going to be one day, thursday, that's it. it could be extended into tomorrow. we do know the vice premier will meet with the president tomorrow. there are a lot of moving pieces. as well as commitment to buy more soybeans. the question, exactly how much more, edward lawrence following fast moving developments. reporter: any minute now the vice premier will come out for a break for lunch. this is the 13th round of face-to-face talks. going for three hours now.