out tomorrow in the print edition, says how google interferes with its search algorithms and changes your search results so they have blacklist algorithm tweets, army of contractors that shape -- maria: they said it was a machine. somebody operates the machine. great to have everybody this morning. thank you so much. have a great weekend. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. let's go. this stock market is truly amazing. it sets record after record. we are clearly in a year end rally, a santa claus rally, call it what you like. given the circumstances, it is indeed amazing. the dow has gone up four weeks in a row. the s&p, six weeks in a row. the nasdaq, seven. all during that time, speaker pelosi and chairman schiff were planning the removal of the president. investors don't care. since he was elected, the value of all stocks has gone up 10.8 trillion. now we all share in that. prf comi coming up, left-hand side of the screen, impeachment hearings being gavelled to order.

here comes another day of televised political theater. the word bribery will be thrown around a lot. that's the charge the democrats hope will overturn the 2016 election. this is how investors are responding today. another rally. more new highs. the dow industrials up maybe 100 points plus. s&p up 10. nasdaq up 43 points, half percentage point. new records, all across the board. look, let's be clear. make no mistake. we will cover impeachment. we will keep an eye on it for you so you don't have to. but our focus is your money. stay right there. watch this amazing stock market go. "varney & company" about to begin. at the end of the day, we have to be able to come together as a caucus and it is this

ukrainian allegation that is what brings the caucus together, then i think we have to run with however we unify the house. we also need to move quite quickly because we are talking about the potential compromise of the 2020 elections and so this is not just about something that has occurred. this is about preventing a potentially disastrous outcome from occurring next year. stuart: potentially disastrous outcome. you've got to get him out using impeachment because heaven forbid he might win the election. aoc talking impeachment. clearly this is nothing to do with illegality. pure politics. this is how they overturn the election of 2016. just like al green, look at that on your screen, when he said i'm concerned if we don't impeach this president he will get re-elected. we will bear that in mind as we go through the day. despite all of that, markets are in record territory and going up from there. market watcher jonathan hoenig with us again on a friday morning. i'm going to say the same thing i said last week. don't you dare throw cold water on this.

>> you can't throw cold water. the market doesn't seem to care about the impeachment hearings. it's not dissimilar to what we remember from the clinton impeachment hearings. the longer the hearings went on, the more the markets seemed to go up. back then it was stocks like cisco and sun microsystems, this time apple, disney, microsoft, walmart. all these names are at all-time highs or at least 52-week highs. the trend is up despite what's happening on capitol hill. stuart: the trend is up because the underlying economy and the underlying profitability of american corporations remains very strong. that's at the heart of it, right? >> yeah. you can't dispute the fundamentals. they are quite good. but look, as an investor, professional investor, you always have to have a little bit of skepticism and whether it's a weak new issues market or for me, which is the number one concern right now, which is the level of debt. the amount of debt carried right now by americans is greater than it was pre-global financial crisis. so there are some reasons for concern. but in the here and now, you

can't splash cold water on this market. about 60% of stocks are above their 200 day moving averages so the trend is up, and you are losing money by fighting the tape. stuart: should i sell my microsoft, no. should i sell my at & t, no. what should i sell? i can't think. what are you selling? >> i'll tell you what i'm doing is paying down debt. you have to take a lesson from warren buffett who says get greedy when others are fearful, fearful when others are greedy. the market is strong, the economy is strong. take the opportunity to get your financial house in order and if it means selling a stock that's appreciated in order to pay down some of that consumer debt, for me that's a good trade. stuart: okay. you have redeemed yourself, hoenig. capitalist pig himself. jonathan, seriously, thank you very much indeed. >> have a great weekend. stuart: we've got a lot of retail information coming at us this morning. we've got the overall numbers on retail sales for october, i think. then we've got jc penney's earnings. start with the overall numbers. lauren: better than expected.

rising .3% in october, essentially erasing the fall we saw in the month of september. where are we shopping? not at the department store. yes, online, yes, we are buying cars. this is good news. the consumer, steady as she goes heading into the holidays. stuart: that's a signal the consumer is strong. now break out jc penney. what was their report? lauren: so they are still losing money. not as much as thought. but this is breathing a sigh of life into traditional retailer that has just been crushed. if you look at that chart, the past three months have been amazing for jc penney. right now the stock is surging in the premarket, up last i checked about 20%. still losing money, just upping their forecast going forward and not losing as much. we are trying to be hopeful on jc penney. stuart: it's a trading vehicle, isn't it. you could get in very cheaply. if you get a couple cents on the upside you have made a percentage gain to be proud of. it's coming back in some way in the future.

lauren: the ceo is quote, i want to return jc penney to its rightful place in retail. but as we have seen, that has been very difficult. susan: over a decade of falling sales. yes. stuart: not an easy task. let's get serious for a second here. serious subject. it gets worse and worse and worse. we are talking now about hong kong. it is now officially in recession. got it. its economy is shrinking. the banking system there, very important, this, their banking system shows signs of instability. that is not good news in one of the world's great financial centers. now hong kong is ending a week of raging violence with more raging violence. take me through it. susan: the weekend is usually when you see the most violence in these ongoing protests, six months accounting, but it's also having an impact as we saw, the first recession since 2009. the financial crisis, and this has plunged one of the richest and most vibrant global financial centers now into shall we say panic and into

depression, some would say, because there are no signs these protests will end at this point. in fact, they are getting worse. those in the financial capital in the heart of the city itself at lunchtime you see tear gas, protesting and even bankers and lawyers in their suits take off their ties and participate in the marches against the police. so some say something that has been very different, very different picture six months ago, now plunged into crisis. stuart: we should say the trade talks with china are in this silo and hong kong disturbances in this one. that doesn't seem to be a lot of crossover between the two. i think we can say that. susan: we can say that, because there was for awhile, we were thinking can beijing fight two fronts. apparently they are putting i guess different camps right now. stuart: okay. take a look at google, please. state attorneys general expanding their antitrust probe, expanding it to include the

company's search and android businesses. lauren: it's all tied together. if you are going to look into and probe their advertising business, you also have to look at search and you have to look at android because this is where google is dominant. across your entire internet experience, what you do online, google has all that data. now we are seeing regulators saying okay, hold on. this is not affecting the stock. what could affect the stock is perhaps some sort of outcome of all this, where regulators say you know what, search is too big. it's 31% market share. you got to spin that off into another sort of company. so we are awaiting a repercussion that could hurt alphabet but not happening right now. stuart: it's miles down the road. they've got $100 billion in cash to fight this thing with lawyers, and they will. that's why the stock is at $1309 a share. lauren: and going even further because they want your health information, your banking account information. stuart: they keep plowing ahead. so does the stock. all right. take a look at under armour. the feds are taking a look at its books.

the "wall street journal" reports that former executives say they did some creative accounting to meet sales targets. under armour down at $17 a share. warren buffett reveals a stake in the company formerly known as restoration hardware. that's good for a 6% gain for what is now called rh. overall, what an amazing market. look at this. we are going up again just as the second round of impeachment hearings gavel to order. up 100 for the dow but pay attention to that nasdaq, home of the tech stocks. up another half percentage point. big rally there. elizabeth warren's attack on the wealthy continues. her campaign now mocking billionaires who are crying foul. she's selling [ inaudible ] with which to fill their tears. $25 a pop. democrats trying to use quid pro quo as the impeachable offense. it didn't poll very well so speaker pelosi switched to the word bribery. i will ask the chair of the

republican national committee if that will fly. and amazon challenging the pentagon's cloud contract with microsoft. that was a $10 billion deal. they say it's clear bias because president trump doesn't like jeff bezos. "varney & company" just getting started. ♪ hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs.

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stuart: amazon is not happy about microsoft getting that $10 billion pentagon contract. amazon is trying to do something about it. jackie deangelis, amazon says it ain't fair. president trump doesn't like jeff bezos, he interfered. jackie: let me read the statement. it's critical for our country that the government and its elected leaders administer procurements objectively and in a manner free of political influence. that says it all. i will note here, it's a big contract, $10 billion. oracle was knocked out, ibm was knocked out. then amazon was knocked out. defense secretary mark esper took a year longer to make the decision than he was supposed

to, so it appears that it was thought out but this is a legal challenge, and it's going to sort of kick off this battle back and forth between amazon and the government, saying they did this in a biased way. stuart: they have both got a ton of money to defend their position. jackie: it could go on awhile. stuart: yes, okay. jackie, thank you very much. i might notice both of thoets stoc those stocks are up this morning. especially microsoft, new record there. president trump addressed a big rally in louisiana last night. what are voters there saying this morning? "fox & friends" correspondent at a diner in bozier city, louisiana, what's going on? reporter: good morning. the name of the diner is cafe usa. we are talking to people from the usa about the usa economy. keith was actually at the rally last night. what's your take on the u.s. economy? >> i think the economy is going great right now. as a business owner, it's hard to find quality employees right now because everybody's got a job. if you are not working right

now, you don't want to work. reporter: are you worried about china? >> day to day i'm not worried about china. i think china needs us more than we need them. reporter: all right. thank you, sir. over to hugh quickly. what's your take on the whole china/u.s. situation when it comes to the economy? >> i think the situation is -- i agree with what trump's doing with moving the economy forward, bringing the jobs back. there's a lot of people that need the companies to bring their employment back to the united states. reporter: you're not overly worried about china, you told me earlier. >> i am concerned. reporter: concerned but not worried. >> i'm not really worried. i think we have the power to stand up against china. we have a leader in trump who has things pretty well under control. i wish the rest of those people up there in washington would get on board. reporter: hugh, signing off for all of us here at the cafe usa

here in louisiana. stuart: i think they're on trump's side. thank you very much indeed. the other side of the coin here. strong words from speaker pelosi. she says president trump committed bribery in his dealings with ukraine. ronna romney mcdaniel, rnc chair, with us now. i'm told that they tried quid pro quo but that didn't poll very well, so they needed a better name for the charge and came up with bribery. you think it's going to fly? >> i don't. it's not flying. it's just so shameful what the democrats have done. first it was collusion, remember, stuart. then it was quid pro quo. that didn't work. now it's bribery. that's not going to work. i mean, nancy pelosi said that the standard for impeachment would need to be compelling, overwhelming and bipartisan. none of those standards are being met. this is a sham. and it's hurting the american people because we're not passing things like usmca, we're not dealing with china, we're not dealing with health care. all the things that democrats ran on, they are refusing to

work with this president. the president is still getting things done but we are dealing with this circus in d.c. preventing work getting done for the american people. stuart: the stock market, by the way, rallying to new highs as we speak. i'm sure you saw this, ronna. mike bloomberg spending $100 million on online ads attacking the president. you're smiling. what's your response? >> well, i'm just happy to see him burning his money. he can just keep lighting it on fire. it's not going to work. billionaires lighting their money on fire. what are they going to talk about, the fact that seven million new jobs have come to this country, that wages are up, unemployment is at record lows, the stock market is doing so well. stuart: i wouldn't underestimate him. he's a $52 billion man. he could buy some pretty good ads and he will. i wouldn't underestimate him. >> he's part of the democrat party that wants to have government take over everything. they want to tell us how we can live our lives and he was the beginning of that when he told us we couldn't drink soda, now we can't have straw, we can't

have cheeseburgers. the democrat party is the socialist party and mike bloomberg is leading the charge. stuart: he's not happy about guns either. ronna romney mcdaniel, thank you very much for being here. appreciate it. >> thanks for having me. stuart: let's get back to that market. looking very healthy. we are going to be up about 100 points for the dow industrials. look, we are getting real close to 28,000. that would be 10,000 points above where the dow was on election day 2016. everybody knows someone who has had lasik eye surgery. most who have had it love it because they can see again, no glasses, no contacts. now a former fda adviser says put an end to the procedure. no more lasik. we will tell you why, after this. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers

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stuart: the white house has released that other transcript of the president's conversation with ukraine's president. blake burman has it. what does it say? reporter: three pages long, stuart. it is fairly innocuous. a 16-minute call from april 29th, that is after president zelensky was elected the new leader in ukraine. to boil this down, it is zelensky offering president trump an invitation to his upcoming inauguration. president trump invites zelensky

to the white house. there's a lot of warmth and congratulations back and forth between both leaders during this call. it will allow the president and republicans, especially as the hearing, the second public hearing is going on right now, to say look, read the transcript. there was nothing in there, there was no talk about a quid pro quo. however, what you're probably going to hear from democrats is them saying see it all started out good but then that white house meeting was eventually conditioned on investigations into burisma. bottom line, warmth, congratulations, see you soon maybe, but really nothing damaging for the president in this one. stuart: got it. well summed up, lad. blake burman at the white house. thanks very much. here's a story that touches just about everybody, i think. you know the popular vision correction surgery, lasik surgery? been around for 20 years. well, now a former fda adviser raising a red flag about the procedure and he wants it flat out stopped.

lasik stopped. marc siegel, drs. marc siegel, with is now. what's the problem? >> lasik surgery is cutting a slit in the cornea of the eye and shaping it so that you get better vision. if you have nearsightedness. that's what it is. it has some complications. 5% or 10% of the time you might get dry eye, flashes of light, you might not have perfect vision you were expecting, you might see shadows. there's complications. the vast majority of the time, it is successful. 20 million people have had it over the last 20 years. he originally approved it. i think he's way out of line saying remove it. what i think he's really saying here is doctors should be involved in warning patients there are complications. there's no free lunch. if you are going to go for a procedure, there are risks. but there are risks of contact lenses. people who have contact lenses can get infections. they can have problems with vision.

so it's up for me as a physician to advise my patients. patient comes to me, i want lasik, i say to them yes, but there's a 5% to 10% chance you will have a problem. then the patient can decide. here we go again, overregulation, removing things from the market. i'm against anything like that. leave it on the market. leave it on the market. stuart: leave it on the market and warn and you're okay. >> yes. stuart: thanks. you put it in the right place. thank you very much indeed. now, look at that market. keeps on going up, inching higher here. when we open, we are going to be up about 112 points. that's a rally and a half. look at that nasdaq. watch out, big tech. you are going up. we'll be right back. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out

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2" for paramount. stuart: let's get on with this thing. they are clapping and cheering. they are about to open this market. we are going up, i think right from the opening bell. i think you are going to see some record highs pretty much across the board. here we go. it's friday morning and i'm sure we are going to open up, probably 100 points. okay. we are up 60 odd. most of the dow stocks have not yet opened, now we are up 86, 92, 92. i see one loser on the dow, walt disney. that's a bit of a pullback after its recent gain. now we are up 99 points. hold on, hold on. we will get it to 100, i promise you. up 94, 92. come on. buy some microsoft, why don't you. 99. all right. let's move on. the s&p, where is that this morning? it is all-time high, 3109. the nasdaq, this is interesting. it's up a half percentage point. another all-time high. 8,527.

what a market. jc penney, they are still losing a ton of money. their demise as a department store chain confidently predicted but no change for the stock as of right now. i think it's unchanged. susan: hasn't opened yet. stuart: microsoft in record territory, almost at $149. that is a record, by the way. i own a tiny sliver. yes, the dow is up, thank you, the dow is up now 100 points. joel shulman is here along with susan and lauren. joel, this is a rally. this is a year-end market rally. right? >> i think it's going right through christmas. we have seen small caps up 6% in the last month. across the board, u.s. large cap, midcaps, non-u.s., strong market. money is starting to pour back into assets like the install cap -- small caps. we expect it to continue. small caps are the one category that haven't caught up with the

highs. they are still behind where everything else is 10% plus ahead. i see those guys being good pocket. susan: record high for the dow. small caps, by the way, a play and proxy on economic growth here in the u.s. i would say retail sales in october confirming that heading into year's end after a sluggish august-september. pretty solid. especially between the heavy lifting for the economy. stuart: if we close higher today across the board it will be the fifth week in a row that the dow has gone up. it will be the seventh week in a row the s&p's gone up and the eighth week in a row the nasdaq has gone up. all during that time, they have been plotting to remove the president from office. in other words, i don't think impeachment has anything to do with this market at all. >> small fact, we have been saying all year, trade war with china, that continues to eke out good news. everything else is really -- susan: we have larry kudlow saying we are down to the short

strokes, getting the phase one deal done. this is probably a trade headline driven market right now. stuart: kudlow said this is the mood music is pretty good, getting close to an agreement, constructive talks and mnuchin and lighthizer and liu he, they are talking today at the principal level. all of that is encouraging. that's another reason why this market is going up. quickly show me rh, formerly known as restoration hardware. big pop, 7% higher. what is it, warren buffett is buying it? susan: he is buying it. we are talking about restoration hardware. you know, it's up 46% on the year. that's pretty good. you like money and this has made people a lot of money. this is a relatively small stake for a berkshire trade, only $200 million in terms of the stake. also a new stake unveiled in occidental, $300 million. stuart: i don't want to spend too much time on this. who buys and holds rh? susan: what about apple? he reduced his stake in apple by

a million shares. stuart: that's important. wait a minute. i didn't hear that correctly. warren buffett has upped his stake in apple by -- susan: reduced. stuart: reduced. susan: by one million shares. reducing his stake in wells fargo by 7% or so. his big holdings are coca-cola, apple and wells. >> came down $128 billion. he's got a lot of money to put to work. stuart: in cash. >> in cash. stuart: when we say cash, it's not a pile of bank notes. it's like treasury securities. lauren: back to restoration hardware, they sell $10,000 couches and are doing really well. we got the retail sales report. we're not buying furniture. furniture shares and home furnishing sales went down but not for people who want to spend a lot of money. stuart: you were determined to get rh in. lauren: i was. stuart: producer, i would like you to prepare the board which shows all the big tech companies. while you're preparing that, look at under armour. the feds are taking a look at the books.

the "wall street journal" says the former executives said they did some creative accounting. what have we got? lauren: they had retailers -- instead of sending it to their own factory stores, they sent it to companies like tj maxx. they thought all this was legit at the time but they were doing it because they were under pressure to meet very aggressive sales targets and it blew up in everybody's face. you have a civil and criminal investigation. stuart: okay. please. okay. now, show me the big tech. there you go. apple, alphabet, amazon, facebook, microsoft, all up. i like the look of all of them. >> i do, too. they are entrepreneurial companies, particularly the middle three. microsoft, apple, trillion dollar companies doing incredible. we are looking at a strong market led by these guys. lot of people don't realize 8.5% of the russell 1,000, 1,000 companies are driven by apple and microsoft. so two companies are driving 8.5% out of 28% return. stuart: that's why money is pouring into these companies. they have tentacles everywhere. they are absolutely giant and

are moving into different industries all the time. now, is that a problem for our economy when so much financial power and capital is concentrated in so few companies? >> well, i don't think so. we've got a number of entrepreneurial companies, companies that are driving the growth, driving revenue growth, driving employment so we have a handful of companies that are driving it and that's okay. the others have benefited. susan: most of the money this year has rotated into 10 or 12 stocks, most going into big techs. >> yeah. stuart: all good stuff. all right. we are up -- we are six minutes into the session. the dow is up 94 points, about .33%. pretty sure you've still got a very strong gain for the nasdaq and the s&p as well. now let's discuss amazon and microsoft. amazon is not happy that microsoft got that $10 billion pentagon contract. amazon says president trump doesn't like jeff bezos and that's why amazon didn't get the contract and microsoft did.

well, he's filed -- they are filing a complaint, i believe. the stock, amazon, down a little bit and google is up four points. not sure why that's on the screen. look at walmart. yesterday, nice pop on healthy earnings. down just a fraction today, $119. joel, you like walmart? >> it's not a company i follow. back when sam walton was there 30, 40 years ago, but not now. it's a great company. it's a great company. they are doing great stuff with overnight sales and groceries. they are beating amazon in that area, having good margins, but the rest of the company i think is kind of flat. when we think about these giant companies like apple and microsoft, we've got to remember they are up plus 40% this year so as we think about next year's rotation, think about maybe every year a trillion dollar company is not going to repeat this performance. think about broadening your perspective. susan: i don't know, walmart has an unprecedented streak of five years of rising sales. that's pretty much unheard of in a retail environment if your name isn't amazon. i would say walmart, from what i

see, they are driving into the holiday season looking pretty good. >> yeah. so the revenues are up, particularly the grocery sales are strong, and they are getting into online in a very strong way and putting it to amazon in that respect. we are seeing healthy competition. stuart: put google stock back on the screen, please. state attorneys general are expanding their antitrust probe. that would include the company's search and android businesses. of course, any action against them is way down the road. they will continue to make a ton of money. that's why the stock is $1,314, up this morning. the cannabis producer aurora, down after scaling back its expansion plans. revenue declining as well. taking it on the chin, down 11%. those pot stocks have really taken a hit recently. grub hub, barclays has doubled its upgrade to overweight. okay. stock's up 3%. the ten-year treasury yield, where are we? what are you laughing at?

strange wording, isn't it? all right. 1.84%. you ever look at the treasury yield as anything important? >> you know, i think the rates are so low, mortgage rates are low, i don't think moving up or down just a little bit is going to really move the market. it's more psychological. we've got historically very low rates and if you can't make money at 1.84% as a company, i don't know what you're doing. stuart: there is no longer a recession signal from the treasury yields. how about oil, bumbling around at $56. all right, i'll take gold. $1,466. it's really retreated from $1500. oil, $56 a barrel. barely changed this morning. the former chief executive of uber selling more stock and getting a big paybay. what's this? susan: he sold off $164 million according to s.e.c. filings and that's on top of the $711 million worth of stock he sold in uber. the lockup period expired earlier this month. stuart: i don't like the sound of that. >> no, no, in fact, investors

need to be forewarned when you buy an ipo, precisely that point, when the expiration period runs out, many investors rush to sell the stock. it happened to facebook and uber. investors should not be surprised people are waiting for the lockup period to end and then bail. stuart: i would see it as a buying opportunity. you flush out the early investors who are now selling. down to $26 a share. to me it's a buy. susan: the stock is down 45% since the ipo. at one point, the founder of uber held a 7% stake. he was the largest individual shareholder in the company. now the fact he's selling out of the company he founded, that gives you confidence in the stock or the business when it's not making money still? stuart: i just love to see a company that's really innovative, global company. i don't care whether it makes money or not. amazon didn't make much money to start with. it's all the way down to 26 bucks a share. if i get a $1 or $2 pop, i'm not doing too badly. where am i going wrong? >> you're not going wrong with

that logic although at some point, the stock continues to go down like penney's. $14 billion company down to $300 million. stuart: thank you, everybody. it's that time. joel, you're all right. thanks very much indeed. check that big board. we are up, i knew we would be. pay no attention to the impeachment proceedings. just look at your money grow. we are up 95 points on the dow, 27,800. now this. wild scene out of last night's nfl game. a player from the browns swinging a helmet at the steelers quarterback's head. this can't be good for the league's image. we are on it. lot of people make money from positioning images on facebook's instagram. the more likes people get, the more money they can earn. oh, wait a minute. instagram is testing hiding likes. that could cost some users a lot of money. we will tell you about it.

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wow! giving one. how did you guys...? >>don't ask. the lexus december to rembember sales event get 0 percent apr for 60 months on all 2019 models. experience amazing at your lexus dealer. stuart: now we're up 100 points. 105, to be precise. 27,889. we are 110 points away from, am i right, yes, from 28,000. not bad. call this sign of the times. not sure i'm with it. iconic burger chain white castle making vegan stuffing for thanksgiving. lauren? lauren: well, why would you do that? with impossible foods, you put the fake meat in the stuffing and you can buy it at the

grocery store this thanksgiving. it just shows you that plant-based is literally everywhere. every company, even the ones you don't expect, are getting in on it. we should try to make a list of the companies not getting in. stuart: not bad. there are a couple. lauren: there are a few. chipotle. shake shack. stuart: i want to get into an area which could cost some people a lot of money. facebook's picture sharing site instagram, they started hiding likes. social media is not something i profess to understand thoroughly. that's why kurt knudssen is with me now. >> this is my instagram page. will you like me? press that heart right there. stuart: okay. i liked it. yeah. >> it went up one. but you wouldn't see the number anymore of how many people like me because that's what instagram is doing, removing the count of the likes. stuart: so what? >> if you are an influencer, who makes their living off of this, that might be a big problem if you can't prove that you have --

stuart: like kim kardashian? >> the whole kardashian family. you have kylie jenner charging upwards of $1 million for one single post on instagram through social media. stuart: oh. she can no longer say i have a million people following me, pay me -- >> she may not like this. stuart: she wouldn't like it, b, she might not get the money. this extends to all these influencers. because that's quite a business. >> take something into consideration. about 68% of influencers in 2018 in a study and survey admitted to the fact they buy likes which means the like numbers that you are seeing already are b.s. they're not necessarily credible information that you can hang on to. advertisers i think are getting wise to this. i think what's going to happen by removing the likes, not only are we going to become more healthy, sensible human beings instead of running around trying to get stuart varney to love us, and everybody else, but we are

also going to get down to the content that's real is going to start bubbling up to the top, and so the fakers out there who have been buying likes will just sort of drift away. stuart: you made me understand this. >> good. stuart: that was terrific. >> it was all the touch, right? just had to touch it and feel it. i'm going to bring a bigger pad the next time. stuart: i'm an old fashioned kind of guy. got to touch it and feel it. very interesting. thank you so much. see you again real soon, promise. thanks. all right. check that dow. we are still up roughly 100 points and the vast majority of the dow 30 are in the green. big day. elizabeth warren's attack on the wealthy continues. her campaign is now sending a mug to fill billionaire's tears. that's the wrong way around. they are selling a mug to hold billionaires' tears and they are charging 25 bucks for that mug. let's see what brandon arnold of the national taxpayers union has to say about the mug and

warren's taxes. 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. i am royalty of racing, i am alfa romeo.

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stuart: okay. look at this stock. this is canopy growth. their price target has been cut to 25 from 48. that's interesting. they were at 48 so they cut it

the 25 and the stock is actually at 15. bottom line, canopy growth has a problem. take a look at this one. the warren campaign selling billionaire tears mugs. talk about populist snark. that's what it looks like. brandon arnold is with us. he's with the conservative watchdog group the national taxpayers union. brandon, great to have you on our side and on our show today. >> my pleasure. stuart: we are all taxpayers. what do you make of specifically the wealth tax plan? >> right. the wealth tax plan i think is a horrible idea. there's administrative problems, there's all sorts of tax question problems which is why a lot of european countries have abandoned them but my biggest concern is there's a mathematics problem. what we have on the democratic side of the ledger is a war on math. elizabeth warren is proposing a wealth tax trying to hit only billionaires to finance about probably $41 trillion in new spending. the problem is, if you combine

all the wealth of existing billionaires you are only talking about $9 trillion. stuart: you can take it off them completely, confiscate the lot. >> bill gates, michael jordan, jeff bezos, and you have about $9 trillion. you would still have well over $30 trillion to fill in the gap there. how do you fill that in? higher taxes on the middle class. stuart: you have to come down from the billionaire class, you have to come down to the millionaire class and probably down to the 200,000 class. >> i think it goes all the way down the economic ladder. if you look at some of the proposals that people have put out there, how could you possibly generate $30 trillion or so over ten years? you are talking about something like a value added tax, somewhere the rate around 40%. that hits everybody that buys something. so it doesn't matter if you're struggling to get by or if you have millions of dollars in your bank account. you are going to get hit by a tax. stuart: why is it that you have a leading candidate here out with this fantasy math? how do you get away with that? >> i think the story here is the

democrats just keep trying to out-left one another. bernie sanders came out with $23 trillion in tax hikes and elizabeth warren decided to try to one-up him by offering up $26.3 trillion in tax hikes. they just keep moving further and further to the left. stuart: you know, look, it sounds ridiculous to us, i got it, the math is ridiculous, but if you are a younger person, you don't pay high rates of taxation, if you pay any tax at all. what you are going to get is something for free. those billionaires and millionaires, the rich, they are going to just put money in your pocket. that's what makes it attractive. >> absolutely. we are talking about free college tuition, free health care, free child care, all these green programs that a lot of younger people -- stuart: you can see how attractive it is for youngsters. >> which is why it's really important to look at the math, drill down on the numbers and show billionaires alone, again, that $9.1 trillion cannot finance over $40 trillion in spending. that's going to fall on the middle class, it's going to fall on virtually all americans. stuart: i will repeat that.

elsewhere. you take everything that every billionaire's got, you take every penny they've got, you end up with $9 trillion. that's it. >> that's it. stuart: brandon, i'm appreciative of your math and i like that number. thanks very much for joining us, sir. appreciate it. let's go to chicago, where the world's largest starbucks is opening today. world's largest. what's it got? lauren: it's five floors which sounds like kind of awful in a way, but this is the way for starbucks. they only have six roast eries in the world, big stores like this. taste all the different coffee alcoholic beverages, food that we offer, it's concept and that's how they test if certain products will work with customers. stuart: works for me. lauren: i love it. stuart: i would like that. coffee, food, whatever else you want. susan: great tourist attraction, too. stuart: is it anywhere near the bean? have you ever seen the bean? lauren: i have seen the bean. i'm not sure where exactly this one is. stuart: looks exactly like a

coffee bean. susan: the large store was in tokyo before this. asia plays a big part of the strategy for starbucks. they are opening one every 15 hours in china. one every 15 hours. stuart: i like the way you say china. just like the president. china. susan: do i say that? stuart: no, you don't. just joking. just joking. coming up in the 11:00 hour, we have a marine turned millionaire. we will hear his success story and ask how he feels about warren's tax proposals. then there's that movie "ford versus ferrari." it hits the theaters today. we have the race cars featured in the film outside on fox square. we will give you a closer look at them. how many socialists does it take to screw in a light bulb? bernie sanders and aoc have revealed more details of their climate plan. part of it calls for billions to renovate housing projects, including replacing light bulbs.

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stuart: bernie sanders and alexandria ocasio-cortez have revealed a few more details about their 16 trillion-dollar climate plan. one of the details, is the 180 billion-dollars they want to spend to retrofit public housing unit. when i saw that a bell went off. this headline in the "wall street journal." $1973, the led light bulb, and "green new deal." that is what new york city paid to change light bulbs in some public housing units. $1973 for each apartment. why so much? new york pays union scale.

electricians get $81 base pay, $54 in fringe benefits. government work is very expensive. no wonder aoc need $180 billion. they think they can kill two birds with one stone. climate, inequality. go green, raise wages. somebody else's money they're using. under the 16 trillion-dollar plan, the government would own and run all power generation. by 2030, 10 years away, you would have to have an electric car and all electricity would have to be generated by solar, wind or geothermal power. no gasoline. no oil, no coal. no nuclear power. what happens when the sun doesn't shine and wind don't blow? no problem. $852 billion will be set aside for batteries. this is pure fantasy. there is pattern developing here. we should be pleased to see it exposed. socialists, warren, sanders

reveal their plans. they are ridiculed. good. because they are financially ridiculous. the second hour of "varney & company" is about to begin. ♪ stuart: my rant is over. here is charles hurt. my point, charles, look as these crazy tax plans and spending plans are revealed, i'm glad to say that they are being ridiculed, even in "the new york times." i think this is a good thing. >> it's a good thing. they should be ridiculed. you're also right. what is scary about it is, that so much of this sounds appealing to young people, who are at the bottom of the ladder. they're not making any money. they think they will get free stuff from the government. but the problem with this, this is where i think it is important for us to focus our, our fire

is, that it is not, that this is somehow wrong for some moral reason or whatever. it is that it doesn't work. it is a lie! elizabeth warren and bernie sanders, they're lying to you. you're not going to get all the free stuff because the money is going to run out, other people's money will run out very quickly, when it does, we'll be in, you know, destitute, just the way every time socialism has been tried in the past, that is what happened. stuart: hold on for a second, charles. we have news on an ethics probe involving democrat rashida tlaib, one of "the squad" members. what is going on, lauren? lauren: the house committee expanding their probe. they have text messages begging her campaign for cash. okay to take money from a campaign but use it for reasons that broke the law? was it child care or other things? they're expanding their probe into that. stuart: charles, come back in to

this. what is your reaction to the probe here? >> this is the problem with people like this. they think laws don't apply to them. they think they can say whatever they have to say to get into power. going back to the socialism business, socialism, it is not a financial system. it is not a form of how to, you know, economic format. it's a power format. it's a way of taking control of people's lives. taking control of all of the money. taking control of everything. these people, they honestly just believe these laws that we know, we've seen it time and again throughout history, don't apply to them. whether it is the little things like, you're not allowed to pay yourself, you know, you're not allowed to spend campaign money on private stuff or the big stuff like, oh, we're going to tax everybody's wealth, make, you know, everybody will get to work on, riding unicorns, it doesn't matter. stuart: riding unicorns. that's a good one. let me finish it with this.

i can't believe when we get to next november, if the democrats are led by a candidate who wants these "green new deal," massive tax increases, "medicare for all," i can't believe that a candidate who has those views could win. i absolutely cannot believe it. what do you say? >> i don't either. quite frankly, i know a lot of democrats, i talk to democrats all the time outside of washington in normal america. they don't like donald trump. they have a very good reason, can give you good reasons for not liking donald trump. they have a lot of issues they care about. not a single one of them want to give free health care to illegals. not a single one of them wants open borders. this is a platform, not only does it not appeal to regular, normal, across the board voters, it doesn't even appeal to a broad cross-section of democrat voters. which is why, despite joe biden's terrible campaign he

is still doing well. most democrats care about other things and they really don't think that joe biden is on board with all of this crazy nonsense. stuart: i think we'll sum it up right there, crazy nonsense. charles, thank you very much, sir. we'll see you soon. promise. >> thank you, stuart. stuart: check the big board. all-time high for the dow industrials. we are really closing in on 28,000. here is the s&p, all-time high. that is 3105, look at that. the nasdaq, also all-time high. 8,512. we're up a third of 1%, more than that. david dietze, friday morning. here comes david. you got -- do i see a look of caution on your face. i'm gunning who. year-end rally. market going straight up despite it all. what do you say? >> so many reasons to be positive. consumers, jobs are plentiful. we saw in the case this morning that they're spending heavily. interest rates are low.

normally you get more income from investing in a bond than you do s&p 500. chairman powell has dovish tilt. corporate america will make record profit this is year. much more money than this year. those are all reasons to be positive. guess what, stuart? the nasdaq has been up seven weeks in a row. we'll not see another seven weeks in a row. valuations are getting stretched. people need to pinch themselves a little bit. if there are two things people need to focus on. one is hong kong. stuart: what? you think that can affect us? >> here is how it can affect us, for some reason i hope it doesn't happen, they get too heavy-handed putting down protesters from the mainland it may be politically possible to cut a deal with china the u.s. can support. stuart: seems like they're in silos. trade talks with china are in silos, with that little tube right there, separated,

completely different silo is hong kong. they don't seem to be connected. >> right now china is watching from the other side of the island. if they come in hard, then perhaps the two get conflated. that would be troublesome to cut a deal to take us next step higher. last thing i want to mention, there is a pessimism in the c-suite, particularly the manufacturing sector. although consumer spending is 2/3, much bigger than manufacturing spending. manufacturing spending is spending on steroids, it is investment in the economy. creates a lot more job. more important than spending restaurants or buying a flat-screen tv i need to see the manufacturing portion of the economy stablize and start moving up to get really bullish. stuart: it is your job to stablize people like me who might get overrun with the part of the end of the year rally. i will still buy more. david, good stuff. thank you. alibaba selling shares on

hong kong exchange s that official? susan: it is official. confirmed last night. i spoke with a person official. there is vote of confidence for hong kong despite six months of ongoing protest es. this is large share offer 10 to $15 billion. stuart: it's a chinese company wants to put backbone into hong kong, supporting hong kong, doing it for political reasons? susan: possibly. that is good analogy or good spin-off. maybe supporting the hong kong economy and dollar as well. they're looking to sell 75 million shares. neither jack ma or joe tsai selling shares into the offering this is to run the business that needs cash, they are bleeding losses running china's version of youtube and delivery and alibaba pictures as well. stuart: i do own some alibaba shares quoted on the new york exchange. this hong kong quote will dilute

me a little bit. susan: a little bit. 2 1/2%. more money might play hong kong instead of u.s. here is the opportunity for you. arbitrage the shares. one more expensive in new york, compared to hong kong. there is deal discount you can play. i know how smart you are. stuart: i'm not that sophisticated. susan, thank you very much indeed. the left's impeachment obsession extends beyond washington. the student body president faces impeachment after he used student funds to bring donald trump, jr. to the campus. we'll have that story. charlie kirk next. new rules for hospitals an medical insurers this afternoon. first we have health and human services secretary alex asar. what is transparency in practice. what does it mean for me. former congressman, j.c. watts launching a 24 hour black news channel.

i will put it to him. is this how the gop will grab the black vote in 2020? j.c. watts coming up. ♪.

stuart: nice gain. pretty close to 100-point rally for the dow. gets close to 28,000. gerri willis on floor of new york stock exchange. they're ignoring impeachment, aren't they? >> no kidding. this is what we could be looking at today, stuart. think about it, 28,000. it could happen. we're a little over 100 point away from it. these stocks leading the day. nike, walgreens, cisco. dow has been up nine weeks, big performance there. we're researching question which stocks brought us to this 27,00083 level from 27,000

july 11th. we'll get back to you on this. i would put it on because it is bad luck. bad luck to wear the 28,000 hat, yeah. stuart: gerri, very appropriate. we are, what, 113 points away from 28,000. that is another leg up. if we hit 28,000, that means we're 10,000 point above where the dow was when donald j. trump was elected? that is extraordinary stuff. >> traders coming up to me, trying to get into the shot talking about this. they're so excited. this is another milestone. four-month since 27,000. got to love that. got to love that. stuart: i promise we'll get back to you, gerri. good stuff. former ceo of uber kalanick. susan: kalanick. stuart: he sold more of his stock. how much -- susan: call him the bad boy of tech. that was his reputation because he was booted out of the company

he founded, uber, since the lockup period expired first few days of november 6th. he sold $700 million. people want to think what he is doing next with the money. if he is visionary founder of a company like uber. he is getting into cloud kitchens with his money. stuart: what does that mean? susan: cloud kitchens he wants to bring together take-out food delivery companies, produce the cuisine in one place. remote kitchens. stuart: real kitchens would turn out real food? susan: yes. real food. not paper, so you can actually eat it. he still owns 4% of uber still. stuart: i'm trying to understand cloud kitchen, real food. susan: share kitchens. stuart: kalanick. susan: kalanick. stuart: sorry. here is story for you. university of florida, president of the student body facing impeachment because he brought donald trump, jr. to the campus. the man telling the story.

charlie kirk, turning point usa kind of guy. take me through it. >> it was ridiculous. i was at university of florida speech where don, jr. gave at university of florida. one of the best attended speeches they ever had for any guest speaker. thousands of students wished they could have come on campus. what happens the student body president has the ability to bring certain guest speakers. i applaud student body president trying to bring on university a different point of view than conventional left-wing perspective. donald trump, jr., is number one "new york times" best-selling author. you might disagree with his politics, being a "new york times" best-selling author should have full agreement, decent-minded rational people there is something worth hearing from here. this individual is facing impeachment from his peers, fellow students because they don't like, not that donald trump, jr., isn't popular or has a big following, they don't like how he thinks and that is a very dangerous trend. stuart: okay.

that's ridiculous. got a good one for you. i like this one. boston university, look what happened when conservative speaker ben shapiro spoke. just roll tape, please. [shouting] >> usa. usa. usausa. usa. usa. stuart: don't you love it. >> that is in boston. stuart: usa in boston. >> elizabeth warren's hometown, right? you got to love it. i spoke at a couple college campus this is week, north carolina state university, university of florida. one thing, biggest problem, stu, we can't find venues big enough to fill all students that want to hear us. stuart: you're kidding? direct opposite of what we're told. >> students are more curious than combative. there was only eight of them. no matter what happens, they will end up protesting it. the issue is this. how do we get ideas of free enterprise exposed to more people. there is something exciting happening on the college campuses.

president of the united states deserves a lot of credit for free speech executive order he signed back in the spring. stuart: you're in the middle of all of it. charlie. pay attention to the rally. we're up 111 points. make sure you know that. taylor swift in a the bale with music executives. she took to instagram to help her out. the story is next. ♪. imagine traveling hassle-free with your golf clubs.

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stuart: we're less than 100 point away from 28,000.

the dow is up 123 points. this is a big rally. president tweeted this. record stock market 21 times, despite totally unfounded witch-hunt a democrat party would love to see a nice big juicy recession. in actuality the potential for the united states is unlimited. we'll power through the do nothing dems. dow straight up. taylor swift enlisting fans to help her in her fight to perform older songs. i don't understand this, lauren. lauren: everyone is talking about this. taylor swift is performing at the amas later this month. she wants to sing her older songs because she does not own them. who owns them? her former record label. she is with universal. big machine is the label.

she can reform them to own the masters. she cannot do that until 2020. she has a lot of fans, swifties to go after the record label, let her perform their stuff. that label, big machine has responded. this is interesting. saying we're not blocking taylor swift from the amas but they didn't say exactly or address what she could perform at the amas. has ethical implications. these are women with children they're being attacked. stuart: remind me of the late great petty, his song, i won't back down? lauren: won't back down. stuart: he wouldn't back down in the case of record companies which owned his old songs. analogous situation to taylor swift. langer she is not backing down. stuart: in the end he won. lauren: do you think taylor will win this one? stuart: i don't know, the great tom petty won. this is ugly.

i think you agree with this. truly ugly fight at the steelers-browns game. you know, gets worse from there. i think is started on a penaltity. susan: could be end of the season for defensive end of the cleveland browns, miles garrett, swinging helmet at steelers helmet, miles rudolph in for injured ren roethlisberger. no one wants to see with games broadcasted prime time on traditional networks. fox was carrying it. some say it could be end of season for miles garrett. probably deservedly so. problem the most severe penalty in nfl history. nfl has broadcasting rights of $39 billion. they need to protect this, if they want families to watch, not this type of violence as well. stuart: you can't have this. big guys swinging at each other on camera. susan: very aggressive game.

a lot of hard hits. it was hard to watch, to be honest. stuart: reminds me of a hockey game. sorry about that. that wasn't funny. we all know someone who had lasik eye surgery. a former fda advisory member says the surgery should be stopped because of negative side effects. health and human services secretary alex azar will tell us about this. we will ask him about the new life transparency rule the president unveils today. about lowering health care costs. i want him to explain it. what does transparency mean? more "varney" after this. with va mortgage rates near record lows, i want to tell as many veterans as possible about newday's va streamline refi.

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♪. sergeant pepper's lonely, sergeant pepper's lonely hearts club band ♪ stuart: that sounded slowed down, isn't it? i remember that more lively, upbeat. sorry. don't care for that. lauren: it has been 50 years, careful, lauren. talk about dangerous ground, listen to this, the british labour party, thoroughly socialist, i call them a bunch of marxists, if they win the election next month, guess what they will do? they will provide broadband to everyone for free. susan: oh, my. stuart: tell me how they will pay for it. susan: just maintenance cost 400 million u.s. dollars, maintenance, they will tax the likes of apple, google. stuart: tax us. susan: paying broadband across the entire country will cause

$30 billion u.s., 20 billion pounds. that is a lot of money since the national communications, you know, the department there says only 7% of the population in britain has full-fledged broadband. i mean they're going to nationalize rail. they want to nationalize water. talking about the labour party. broadband for free as well. they want to break up british telecom, nationalize bp. how much is the company worth? market cap is 80 billion, close to 100 billion or so. these are extraordinary measures they're trying to put forth. i'm not sure how they will get it through. stuart: socialism, markism, 1952. susan: you wouldn't vote for the labour party or jeremy corbyn, right? just double-checking. stuart: no, no. thank you, susan. check for the market. very nice feign, all of them at record highs. dow at 27,900. closing in on 28 ground.

s&p, 3100, new high. this is year-end rally across the board. now this. everybody is talking about this one. the eye correction surgery, lasix surgery, now being called dangerous by a former fda advisor who wants to ban this surgery completely. health and assume services secretary alex azar with us now. that seems to go far for a surgery that helped a lot of people including members of my family. where do you stand on this? >> stuart, we take seriously any data or concerns expressed. fda takes a look at this. patients talk to your doctor. make sure you go into any procedure getting as much information about the risks and benefits of procedure. but we'll study the question carefully. stuart: this afternoon the president rolls out new rules for hospital transparency for hospitals and insurers. can you explain to me what price

transparency would mean for me? >> you bet. president trump and i are focused on people's business today. right now, when you or i go into a doctor's office or hospital, you won't know what something will cost you. you will only find out afterwards. president trumps rolls out at 2:00 p.m., knew requirements for hospitals, they have to tell you what the services cost, publish the information, tell you the negotiated rate with your inspurns company. we also are proposing today, that insurgeons companies would have to tell you in advance what their negotiated prices are for procedures that you might get from doctors, hospitals, what your out-of-pocket expenses would be, based on the deductible during the year. it is complete utter transformation to create a market with health care and patients in control from with the driver's seat.

stuart: that would be wonderful thing. you're in the doctor's office, you do that, it costs this, do that and it costs this. mr. secretary, hold on for one second for me. i have got breaking news i have to get to our folks here. apple is removing vaping apps from the app store. not sure i understand that. susan: we were just sent this. apple is removing 181 vaping apps from the app store starting today. as you know there has been a lot of controversy over vaping. we have two thousand cases of people in hospitals. suffering from lung injury because of vaping, 40 deaths. apple will take precautionary measures. removing 181 vaping apps in the app store. stuart: if i had vaping app. susan: it would be unavailable. what would the app do? i don't know, track the amount of vapor you enhailed or -- stuart: that kind of thing? susan: that type of thing. stuart: gone from apple. mr. secretary, i know you're

hearing all of this. what is your response? >> i'm not sure what the apps do with regards to vaping as you and i talked about before, stuart, there are two issues going on with regard to vaping. one is a broader issue of people vaping thc or cbd. these are constituent elements of marijuana. we've seen a lot of injuries. as you mentioned. thousands of long injuries. over 40 deaths already from people using home brewed or adulterated products for that purpose. there is a separate issue which is youth utilization of e-cigarettes, kids, getting addicted to nicotine through e-cigarette devices we're trying to focus and tackle. stuart: two separate problems? >> that's correct. what we say is for people who are vaping this thc or cbd, please be very careful. please don't do that. your lungs were not meant to put things like that into them. you're running a grave risk. please don't do that.

stuart: sir, appreciate you being with us, especially the explanation of price transtear currency at the hospital. i really like that one. see you soon. now this. fda is backing expanding use of fish oil for heart disease. lauren: drug company surging 4% on the news. they have potential drug. the vasafa fish oil drug. fda advisory panel recommended fda approve expanded use of this drug. the fda has until the end of december to decide what to do. stuart: it is a drug? i thought it was fish oil. lauren: it's a capsule, that you take from fish oil. they're looking at sales if they get approved of over $3 billion. so it has been a tremendous week actually for that company.

stuart: i'm used to fish oil capsules. familiar with that. not familiar with a drug which is drawn from the fish oil but apparently the fda likes it. amarin nice gain of 4%. thanks, lauren. former republican congressman launching a 24 hour black news channel. i will ask him. is this how the republicans go to the black community? j.c. watts is next. later this hour, another american success story. the pen company of america makes over 650,000 pens a week. we'll tell you this hour all about it. success story. big time. ♪. (groans) hmph... (food grunting menacingly) when the food you love doesn't love you back, stay smooth and fight heartburn fast

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>> hispanic unemployment the best in history, lowest in the history of our country. the rate of african-american and hispanic-american families in poverty has plummeted to the lowest level ever recorded by far. the african american youth unemployment, this was so important to me, you remember how high, it was 60, 70%, has now reached the lowest number ever recorded in the history of our country. doing really well. stuart: that was the president talking to the black community there about unemployment and african-american issues. that is the president going to that community. this january a new tv channel called black news channel, will debut this coming january. chairman of the network, former oklahoma congressman j.c. watts. >> good to be back with you. stuart: for a long time the president has been urged to go to the african-american community. reach out to it directly. is this part of the outreach,

your channel? >> well, stuart not really. i think it is a venue for us to, i think highlight some of the things that would happen in any administration but our mission by and large, we are looking to be culturally specific to the african-american community, not just in current affairs but in wellness and education, informational. i think what we want to do is, is be a venue that, that the african-american community can come to, to get information, inspiration and education. stuart: i often think that when, listen to a black radio talk show, for example, there is a great deal of hostility to the president and to republicans in general. will your channel show that kind of hostility or just be neutral? >> well, stuart, we're not looking to be republican or democrat. i think when you look at most news organizations that talk

about the african-american community, it is usually crime. it is athletics, it's entertainment. of course i came out of athletics, so i'm not hostile to athletics but i would make the argument there is more to the african-american community than crime or athletics or entertainment. that we have doctors. we have lawyers. we have engineers. ceo's. the ceo of lowe's is african-american. carnival cruise line, the ceo is african-american. you don't hear a lot about those stories. for every young man that you see on the news at night that is 17 years old, in handcuffs because he made some bad choice, i can show you 50 african-american males that get up every day, 17 years of age, trying to figure out how to do things to make their mother proud of them. we want to tell a broader story.

stuart: yes. >> more comprehensive story of african-american community. stuart: black america, not as victims but as ongoing people, part of our society. love it. congressman. >> no question, i think i can still call you congressman, i will. j.c. watts, put it like that. come see us again real soon. >> look forward to it. stuart: you're on, thanks. i got some bad news. more bad news actually for under armour. some former executives say, they were pressured to meet sales targets and asked to mask slowing demand. lauren? lauren: the stock turned around. it is up 2 1/2%. in order to mask slowing demand and meet the 20% growth targets, they had to get creative and do things these executives told "the wall street journal" didn't think were illegal, might actually have been. the company is sethed by the sec civilly and a criminal probe. stuart: the stock turned around in the last few minutes.

lauren: i'm looking into why. stuart: up 2 1/2%. something must have developed there. chaos in hong kong continues. officials are considering imposing a curfew ahead of the weekend. steve hilton will join us next hour. i want to know if what is happening there is beginning to affect us here? because it's a dire situation over there. first an american success story for you. the pen company of america. they have been making pens in america since the 1920s. we'll take you to their factory. it's a success story for those people. and for america. we got that for you. cool cars. ford shelby cobra, ferrari gt 40, in the new movie, ford versus ferrari. they're outside on the fox square next hour. ♪.

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stuart: the rally holes all across the board. new record highs. 96, 97 points and change. away from 28,000. i have to interrupt for this. breaking news. it is about taylor swift.

she can now perform her songs. tell me what happened. lauren: any song she wants. she can perform whatever she would like to at maas, later this month. her former label, big machine says you're not block. there is no confusion. have at eight. they essentially said this first time around. it just wasn't crystal clear. they hate each other, her old label an taylor swift. if you're watching the amas, taylor swift you can play whatever you want. stuart: i call that a victory. lauren: for them as well. they have to get out of this. stuart: thanks, lauren. we love success stories on the show. american success stories. our next guest, colleen shea of the pen company of america. fourth generation pen manufacture you are. make all the product in america. let's bring her in. there you are, okay. is that right, 650,000 pens a week that you make, that right.

>> that is correct. that we mold, assemble, print, package, ship out of our new jersey factory. stuart: oh, new jersey. i live in new jersey. where is your factory? >> in garrwood, new jersey. union county. stuart: know it well. when did the company start? how many years ago? >> so my great-grandfather started making fountain point tips back in the '20s. after serving in the war, my grandfather came back realized fountain pens were a thing of the past with the introduction of the ball point writing cartridge. he went into plastic injection molding in the '50s. we've been molding components ever since. stuart: what kind of pen do you put out now? the old ball point or what is the other kind of pen got there? susan: found 10. stuart: found 10 pens? >> no, we do ball point pens. we do markers and we do some pencils. we don't make the pencil.

we print and decorate the pencil. all the pens and markers are made in the factory here in the u.s. stuart: still a family business? >> it's a family business. we run it every single day. we actually sold in 2011 to another family business located about 15 minutes from here in lyndon, new jersey. but we still run the business every single day. that partnership has been wonderful as we've seen sales more than double over the last eight years. stuart: yeah. that is successful partnership all right. that is really good stuff. look, we appreciate you coming on the show. we really like to celebrate american success stories and you're one of them. 650,000 pens a week from a manufacturing plant in new jersey. >> yeah. stuart: that's pretty good stuff. colleen, thank you, appreciate you being here. congratulations. thanks for being on. see you soon. >> thank you very much. stuart: i will check jcpenney for you. look at that. up 7%, $1.18 per share.

that is where we are. we've been following this a long time. we thought this was the demise of jcpenney along with the demise of other department stores. a bit of a comeback, up 8 cents. how about cannabis producer aurora? down. scale back expansion. revenue declining. the stock is down 6% this morning. all cannabis companies virtually across the board had a lot of trouble recently. regulatory environment, supply and demand, pricing, big problems. aurora, down to three bucks a share. amazon, microsoft, check those stocks. amazon is not happy about microsoft getting a 10 billion-dollar pentagon contract. amazon is challenging that decision. amazon down four bucks. new high for microsoft, 149.36, up a buck 30. alibaba's stock dropped a little after cofounder jack ma made comments about singles day sale numbers.

the company is clarifying what he actually wanted to say. susan: $38 billion in 24 hours is pretty good. stuart: i'd say. susan: in terms of sales. biggest shopping event on the planet. jack ma, basically in china, this week, 38 billion was good, not good enough in his view, first happened on a monday. so people weren't shopping. it was too hot. people were not buying enough clothing, backtracking. 30 billion, 25% growth, pretty good, analysts were expecting 20% growth for sales on singles day. he was saying it was still great. by the way, alibaba confirmed overnight they are selling 10 to $15 billion in new stock in hong kong. stuart: dilutes the stock on the screen a little. susan: a little bit. stuart: not affected it. it is at 184.87. i have a little of it. up two bucks a share at 184. susan: that's right. stuart: i'm doing well. microsoft new high. a piece of alibaba. into at&t as well. let me check that one. that is up higher.

>> record markets will do that. big tide lifts all boats? stuart: rising tide. susan: rising tide. stuart: that's a good one. quite a date for the market, i'll tell you. look at this. white castle has impossible stuffing for thanksgiving. i take it that is vegan oriented, lauren? lauren: they have a possible slider, taking it to the next level. stuart: that sounds awful. lauren: you didn't know people put meat in they're stuffing for thanksgiving. we put sausage in my family. if you don't want to do the meat thing, you can use an impossible ingredient from white castle. now you know. stuart: glad we spent 42 seconds on that. lauren: i'm sorry. stuart: real serious. we're getting close to 28-k on the dow industrials. gerri willis from the floor of the new york stock exchange. tell me more. >> we're walking closer and closer, up 1215 -- 115 points.

can't put this on. that led us from 27,000 to today's level, 27,896. here is the list. apple, home depot, jpmorgan, and boeing. couple interesting things. apple is a big momentum stock as you know. home depot surprised here. this is category that has been very popular, consumer. i will send it back to you. stuart: it is called a rally, gerri. we love it. thank you very much. >> all right. stuart: despite impeachment, despite trade. despite everything the market has gone up. it is enrichment of our country. it is being overlooked in my opinion. that is the subject of my take coming up next. elizabeth warren attacking success with that wealth tax of hers. next hour we'll talk to a self-made millionaire, a marine vet who says it is an attack on the american dream and we'll be back. ♪.

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that's 866-285-1934, or tdameritrade.com/learn. ♪ stuart: oh, lawyers, politicians, media people, bureaucrats, they're all assembled now in washington, d.c. for the impeachment of president trump. i find it boring. i already have impeachment fatigue and i don't believe for one moment that this president will be removed from office. we are concentrating on your money. the trump haters can gorge themselves on a phone call. we're looking at the trump stock market rally and the very strong trump economy. look at it. what a contrast. as speaker pelosi and chairman schiff organize the impeachment drive, the markets just kept going up. the dow, up four weeks in a row. the s&p, six weeks in a row. the nasdaq, seven.

200,000 401(k) holders have a million dollars or more in their account. 182,000 i.r.a. owners have more than a million in their account. overall, the value of all stocks has now gone up $10.8 trillion since the president was elected. tell me, what's more important, a boring floundering and ultimately failing impeachment or the enrichment of our country. it's no contest. the celebration of success and prosperity, that's "varney & company" and we'll continue. stuart: here's the guy who single-handedly lifts our ratings every time. >> oh, come on. stuart: pete hegseth is with us, "fox & friends" weekend host. 101st airborne. great salute there. you know how you salute? >> that's the wrong side of the

pond, stuart. that's how we used to do it. we're done with that. stuart: do you agree with me? what's more important here is the money, the prosperity, the wealth of the nation and not what's going on in d.c. >> because the market, if there was a threat here to the presidency of donald trump, who has unleashed all this prosperity, the market would be reflecting that right now. instead, they are seeing the political theater in washington, d.c. and sticking to the basics of the economy that he's created. if this was a real threat to bringing on the opportunity of a socialist or democratic socialist or just a regular old democrat who is going to tax and spend, the market would look at this for what it is, which is ultimately, it's a mess, it's a distraction, but it doesn't actually hurt the president's prospect for re-election. stuart: hold on for a second. take a look at the big board, please. now we are up 143 points, better than a half percent. i'm trying to do the math. we are 75 points, 74 points and change from 28,000 on the dow

industrials. that, ladies and gentlemen, is a rally. i've got warren, that would be senator warren, she had kind of a go at former goldman sachs ceo lloyd blankfein. lloyd responded with this. quote, surprised to be featured in senator warren's campaign ad given the many severe critics she has out there. not my candidate but we align on many issues. vilify indication vilifycation of people as a member of a group may be good for her campaign not the country. maybe tribalism is just in her dna. >> he touched on it. she's been running from the tribal claims ever since. that's a not so subtle poke at pocahont pocahontas. but the argument he's making, my tribe, the billionaire tribe, is the one that's okay to classify and characterize as evil. this is class warfare at its best. he knows the economics don't add

up. she can say she's a capitalist kind of when bernie sanders says he's a socialist. when you demagogue those who create wealth, who create businesses, who create jobs, who could choose to go somewhere else, you know this better than anybody else, our businesses in an international community can go somewhere else if they want. you are undermining our entire system which has enriched and favored more people on planet earth than any country in human history. stuart: senator warren, let's be honest here, gamed the racial spoils system to get ahead in her career as a law professor. >> absolutely. what republicans have done in the past, they would have said well, you know, elizabeth warren used her affiliation in order to enrich, instead trump goes pocahontas and we all understand what it means. it has nothing to do with her race and everything to do with privilege and the use and exploitation of a particular identity group so that she could gain an advantage and she wanted to keep doing it and couldn't. stuart: breaking away for a

second, because there's news on michael bloomberg. what's this? lauren: spending $100 million on anti-trump campaign ads, digital ads. they launch today in four states, arizona, michigan, pennsylvania, wisconsin. so swing states, important states. i just want to mention that he's not going to be featured in the ad. that's a bit of a twist. i think this is preemptive because it is showing the democratic party, see, i'm still backing your issues so there's no need to come for me and by the way, if you do end up picking me, i have more money to spend. stuart: pete, come back in. $100 million buys you some high quality talent and some really probably very professional online ads. >> these will be slick-looking ads, no doubt. michael bloomberg is so interesting that he doesn't feature himself in his own campaign ads. michael bloomberg's biggest problem is michael bloomberg is boring. the president has said -- he is.

president said he doesn't have the magic. that's trump-speak for the reality. what is dynamic, what do you, when you look at michael bloomberg, you might see a successful businessman, someone who has been successful in his life, but politically, he's been all over the map. you hear him speak, he's not dynamic. imagine him on the stage against president trump and the economy he's created but way before that, he's got to get through a democratic field. there's no affinity for him. is he a gun grabber, the big gulp grabber? stuart: he's got $52 billion. >> he can be whoever he wants to be. stuart: he can spend his way into the election. >> we are in a moment of authenticity. people connect not to the slick 30-second ad, they connect to the person and whether or not they believe they have their core interests at heart. that's why trump supporters love trump so much. they feel like he's in their corner. bloomberg will spend a lot of money. i don't think it will go anywhere. stuart: we just got a ratings spike. >> did you? stuart: i don't know. hold on a second. got to get back to the market. look at it go. look at this.

now we are up 155 points on the dow. that's better than a half percent. i'm trying to do the math real fast here. 67 points from 28,000. and let's get back to that record number of 401(k) and i.r.a. millionaires. give me the numbers again. lauren: 200,000 people have $1 million in their 401(k) account, 182,400 people have $1 million in their i.r.a. account. this is excellent news. don't tell elizabeth warren and bernie sanders, by the way. i'm not going to throw cold water on it but i have to say this. this is a small portion of all i.r.a. and 401(k) accounts. the average balance is about $105,000. stuart: listen to this. there are 55 million 401(k) holders, 35 billion i.r.a. holders. all of them, most of them, put their money into stocks. if they do that, their pension money is up by at least a third since president trump was

elected. that's a big deal. he enriched them. now let's check -- pete's still here. i believe this thing was around $7,000 when he bought it. i'm just guessing. >> you're correct. one of your intrepid producers asked about it and i made the mistake of telling him. stuart: you should never have done that. you're up. >> i'm actually up. the problem is i also bought when it was at $17,000. on balance, i think i'm even. i got in around seven, bought again when it dipped below eight just a couple months ago. listen, this is a rocky road. it's not clear. listen, i'm a huge supporter of crypto and the blockchain but the future of crypto remains unclear. the volume spike is an interesting thing to look at. i'm not unfortunately one of your 401(k) holders. stuart: the ratings just tanked. you don't have a 401(k)? >> i don't. i have moved to so many different companies and -- stuart: you can take it with you. roll it into an i.r.a.

>> i worked for nonprofits, i was in the military. you know, i'm not getting richer. stuart: our producer has run out of patience with you. time to go, she says. you're all right, pete. thanks. check uber. former ceo sold 164 million worth of the stock. that's the second big sale he's gone through. uber, all the way down to $26 a share. it was $45 when it went public. google are in record territory even though they've got an antitrust probe against them that's actually expanding to include search and android. up $22 right now. $1331. rising in an upside market. let's see. elizabeth warren, look at this, a coffee mug on sale, $25 a pop. on it, it says billionaire tears. all fun and games until i tell you about this new story in the "journal." her tax plan would make some millionaires and billionaires pay over 100%.

economist jeffrey cleveland, i will ask him about that. he says investors shouldn't worry about her tax plan. why? i'm going to tell you about someone who is up at arms about it. the man on your screen, marine vet, started his own business from scratch, grew it into a multi-million dollar company, and now senator warren wants to come for his cash. he says no way, he says. we will hear that later. despite impeachment, the markets keep going up. look at this. we are on dow 28,000 watch. stay with us. third hour of "varney & company" rolling on. ♪ aetna takes a total approach

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stuart: the world's largest starbucks opens today in chicago. i guess it's got it all. lauren: now chicago has 801

starbucks including the largest in the world. it is five floors. i think these experience stores work. like the apple store. you go in, you show people what you got, you test new food, drink, alcohol even, then starbucks can know what works. it's an experience for people who live there and people going to visit there. stuart: okay. i would love to see if there's lines around the block or not. lauren: so big, i don't think there would be a line but you never know. stuart: the unrest continues in hong kong. in fact, frankly, it's getting worse. the banking district, called central district there, closed, shut down basically. they are considering imposing a curfew this weekend. come in, steve hilton, host of "the next revolution." steve, look, i see it looks to me like really serious oppression, crackdown, is right around the corner. maybe martial law. what do you think? >> yes, i think that is a real

possibility. i thought it would take longer than this. i thought the chinese regime, beijing regime, would be a bit more patient. they are very good at playing the long game. but they can't stand this challenge to their power. the important thing to remember about all this is that actually, xi jinping and the communist dictatorship in beijing, they don't really care about hong kong. they don't actually care if the business leaves hong kong because what they really want is for that all to be based in mainland china. they want shanghai to be the financial center. so to be completely honest, they are much more concerned about preserving their authority over the whole of china than protecting the business climate in hong kong. stuart: do you think if there is an even more serious crackdown, that what happens there affects us here, either through the china trade talks or through the financial system? >> yes. i think both are a risk. but much less of a risk, i think, than people assume. i have been making the case with

you and elsewhere for months, even years now, that actually, it's great news that president trump is standing up to china, taking a tough line against their intellectual property theft and so on, and actually not really worrying about the consequences back here. our economy is powering ahead. we are much less dependent on china trade than a lot of people think. i think that we are in a good position to weather a kind of slow disengagement from the chinese economy. i think therefore, we should do the right thing and not worry too much about the consequences for our economy. stuart: while we've got you, you being a brit, living in silicon valley, i want to alert you, i think you know this, jeremy corbyn, socialist, british, if he wins the election next month, he says he's going to provide broadband to everyone for free and american tech companies are going to pay for it. what do you make of that? >> well, i'm laughing because it's just the sort of latest example of, you know, something that we say and we sort of throw off this idea of free stuff,

free everything. we apply that to the democrats here. you are seeing it of course from socialists there. it is insane, of course, to try and increase taxes, go to the government to pay for something that the market is providing and people are paying for. of course, there are some areas where you need to help, perhaps in rural areas, but the idea that it should be given for free is ridiculous but it points to a wider problem with this uk election campaign that's going on. it is revolving around promises of higher public spending. it's not just the labour party doing that. boris johnson is doing it too. my argument for brexit, as i think yours, stuart, was that free of the shackles of the european union, britain could thrive by being a low tax, low regulation, pro-enterprise economy. that argument doesn't seem to be being made in this election campaign. president trump has shown how you can actually show tax cuts and deregulation are a pro-worker argument, a populist argument. boris johnson isn't doing that.

i think that's what should concern all of us. stuart: that socialist nonsense drove me out of britain in the 1970s and i'm not going back. thanks for being with us. see you on sunday night. thank you, steve hilton. ford has announced a new round of recalls. deirdre: f-150s, 168,000 are being recalled because they could cause stalling or fires so just a connection cable. obviously if you bring it in, they will fix it for you. 2019-2020 model years starting from june 24th to october 1st. if you bought your car anywhere within that calendar zone, call ford. they say they are reaching out. stuart: i didn't, so i'm okay. deirdre: if you did, chances are you have an e-mail waiting for you. stuart: speaking of ford, we have one of their classic gt-40s out on fox square, just outside. it's featured in the new film, "ford versus ferrari." it was built by ford in the '60s

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stuart: the movie comes out today, "ford versus ferrari" and featuring some real cool classic cars. we've got them out there on fox square. gary gastelu is there. take me through it. >> i saw the movie last week. lot of fun, great film, tells the story well and has a lot of exciting racing action they did for real. it's not cgi. but since the original cars still survived from the '60s are worth trillions of dollars today, they had to use replicas. they asked a couple companies to provide cars like the ford gt-40 and shelby cobra over here. again, millions of dollars if you wanted to buy an authentic one right now. but you can buy these for $130,000 for the gt-40, about $64,000 for the cobra. they aren't just movie cars. you can drive it on the track or the street yourself. now, there is a hitch, because they don't meet the current sta safety regulations. this has to be sold as a

component car without an engine. you have to add that yourself later, then get it registered state by state basis, based on their home-built car laws basically. there is a law, though, that passed u.s. congress and was signed by the president in 2015 called the low volume motor vehicle manufacturers act that will let companies build up to 325 full cars every year as long as they meet emissions standards. they are ready to do that, ready to sell the cars, ready to put hundreds and thousands of people to work in dozens of these companies around the country that build these replica cars. but for whatever reason, the department of transportation and nhtsa hasn't put the rules into effect four years later. the industry association has now sued the department to try to force the issue but president trump could call and say make this happen so we can put these people to work, could sell some of these cool cars. stuart: tell me the price real fast. the one next to you. how much? >> 64 for that, 130 for this

before you put the engine. figure about 100 and 180 once you have the whole thing finished. stuart: that's getting up there. good stuff. thank you, sir. see you again soon. next case. elizabeth warren selling a billionaire tears mug on her website. trying to raise money. 25 bucks a pop. we told you that her federal tax plan could cost some millionaires more than 100% of their wealth. we are trying to break this down. jeffrey cleveland is on the show. i will ask him about that. how on earth could you be made to pay more than 100%? we will figure it out for you. we will also ask a self-made millionaire about it. the man on your screen built his business from scratch. you can already tell this man is going to be fired up about a wealth tax and high income tax, too. look at this. we are pretty close, we are actually on dow 28,000 watch. why not? we are only a couple points away. ♪ driverless cars,

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all-time highs, all three. since president trump was elected, the value of all stocks is up $10.8 trillion. market watcher jeffrey cleveland, come on in. we are going to keep this up. this is a year-end rally that lasts through to beyond christmas? >> i think so, stuart, into 2020. we've got good momentum. we got two things really going on here, in my opinion. we have a bottoming out in global economic activity all year long. when you've had i'm sure bearish commentators on, they have been talking about china and germany and the slower global backdrop. that's changing. that's changing right now. we are seeing evidence of a pickup in china, seeing some good signs out of europe. so that is a great tailwind. then the federal reserve, hiking four times last year but this year, cutting three times and expanding fwhatheir balance she adding liquidity, that's another tail wind for the markets. if we can only get somebody to put some ink on a trade deal, i think that would help. that would help in key states,

key states where we have seen weakness in employment that are tied closely to the next election. stuart: look, i think this is really exciting. when you see money being made like that, that is exciting. let me change the subject real fast, though. i'm told that overseas, people pay for everything with a phone, apple iphone or something else. you don't write a check, you don't hand out cash. you pay on these things. you say we are behind here in america? >> i'll tell you what, just off the plane from london, we have an office there. anything you want, you can pay for with your phone, with your apple wallet, apple pay, whether it's the tube ride, it's the coffee, it's a restaurant bill. so what's happening here i think is really interesting. this is probably the biggest innovation in money in my lifetime. you don't need to take out the credit card. all you need is your face and your phone and you have payment. stuart: why don't we use it more? why don't we americans use it more? >> i don't know. walk into places, a lot of merchants don't accept it yet.

there's a few exceptions, of course. i think we are behind in that regard. not that we can't catch up. don't get me wrong. i'm not saying america is behind in anything. i just think there are some innovations we can adopt on the mobile wallet front that will be great. stuart: let me get back to reality, so to speak. i'm told that you are not worried about elizabeth warren's proposed wealth tax. why are you not worried? >> well, public service announcement here, stuart. if you are an investor and you are looking out and making decisions on your portfolio, right now, about who might or might not win an election, then what policies they might be able to get across the finish line, forget it. forget it. that is a bad way to manage your money. if i had a dollar for every time somebody told me a politician was going to do x and then that meant y, for stocks, i would probably be retired by now. ignore a lot of that. even if elected, not all these policies are going to get pushed through. the key thing is that a president has to work with congress to raise things like

personal income tax, et cetera. so it's not a sure bet. even if the candidate being talked about gets elected. i also have to say, stuart, i think there's a big misconception for many americans that the top 1%, their assets are in, i don't know, cars and toys and houses. that's not the case. most of their asset holdings are in businesses. so they are owners of businesses. if we do anything to tax that sort of capital, it will have adverse effect on employment and on hiring and on the market. stuart: hold on for a second, jeffrey. i want to bring in lauren here. warren's tax, warren's tax plan overall could bring rates over 100%. can you explain that? lauren: so you are left with less than what you started with. why would you invest in the first place? it completely decreases incentive. let me give you an idea of this. she would return the top income tax rate. she -- to 39.6%. higher social security tax. up to 6% wealth tax. a capital gains tax that you are

taxed even if you don't sell. if you add all of that up, we are talking about, i have seen various examples of 150% to 158% tax rate. what does that do to investment as we know it? stuart: it's a complicated argument when you bring in wealth tax, social security tax, income tax, the whole ball of wax. jeffrey, you're not worried about that either? >> well, i don't think that is the path to prosperity, stuart, at all. stuart: no. no. >> as i said, it's a misconception. most wealth that's held by the top 1% is held in businesses which they are owners of or investors in, and so anything you do to tax that wealth will have an adverse effect on economic growth. that being said, it's not a sure thing that she will get into office. we are in primary season right now. that is just the time to dangle these enticing ideas in front of your constituency you are appealing to. when the general election comes around, things will change. after even in office, things will change. stuart: that will be one remarkable flip-flop, wouldn't it, if you go from max tax to no

tax. that would be a flip. jeffrey, out of time with you but thanks for joining us, sir. i want to bring in someone who is a self-made millionaire. matt made his money as a financial coach, motivational speaker. all right, matt, i presume that you've got a beef with the warren wealth tax and all the other taxes. spell it out. >> oh, 100%. i believe not only is this an attack on the american dream but could potentially, if this goes through, this could be murderous and kill the american dream. there's so many different aspects not only from the invest orcommunity but also for people like myself who are entrepreneurs. stuart: you and i have both lived the american dream. you are an entrepreneur. you are a former marine, a marine vet. give me your story. how did you start and where are you now? >> so i started my transition to the marine corps, it's my secht ye seventh year, i needed to find a place to raise my kids, food to put on my table. thankfully the world of business and entrepreneurship, somebody allowed me to get a foot in the

door. i have been able to take advantage of the promises and the dreams and the free markets and capitalism that this country allows. stuart: you are a financial coach? >> yes. i'm an insurance and retirement services. stuart: you are a motivational speaker? >> it's one of the things i do, yes. stuart: that's a pretty good combination, i would say. especially when you've got a stock market like this one. >> 100%. i'm so excited about the world of business and capitalism have done. a kid like me from nowhere with no pedigree, no background in finance, to start sfrom scratch somebody takes me under their wing and i am able to exploit this system for the best, that allows me to enjoy which is really making a lot of money and paying my fair share of taxes but not too much. stuart: i love that bit about making a lot of money. well done, matt. well done. wait a second. you are a financial coach. coach me. come on. for free, please. coach me. i'm 71 years old. i am. i've got a chunk of money in microsoft, some in alibaba and

some in at & t. what should i do? >> well, i'm not a financial adviser. that's what financial advisers do. i would coach the adviser, listen, take what you have done on tv, your entire career, package it up and coach up the next stuart varneys of the world, let them experience what you have had, allow them to avoid a lot of mistakes. that amount of coaching, consulting, will go a long way to new revenue. stuart: that would be kind of community service, wouldn't it? tv people are not known for community service. ex-marines are. >> yeah, we are. you provide a lot of value. there's a lot of tv people in my life that's coached me to be here on tv. how do i do this, how do i maximize the value i bring to the community through mainstream media. that's why i'm here today. stuart: well, you were really good, too. whoever coached you on tv did a good job, son, because that's pretty good. >> i appreciate it. lot of practice. youtube and facebook helps out a lot. stuart: good stuff. we appreciate you being on. congratulations on being an american success story. we love it. >> thank you. appreciate it. thanks for having me.

stuart: thank you. warren's campaign is selling these billionaire tears mugs. deirdre: she sure is. you remember leon cooperman, hedge fund manager, he worked at goldman sachs as well, was seen crying on tv talking about the fact he's a billionaire, he built his businesses, built his investments, doesn't want his money taken away, saying he cares. she's essentially trolling him and the rest of the billionaires, as mark cuban told us yesterday there's fewer than 800 of us in this country so we are an easy group to go after. every time we defend ourselves, somehow we look bad. if you want to buy -- stuart: it's clever marketing. deirdre: i got to tell you this quote. savor a warm salty beverage of your choice in this union-made mug as you contemplate all the good a wealth tax could do. universal child care, student debt cancellation, universal free college. stuart: her base will like that. deirdre: if nobody does the math it will be all right. stuart: deirdre, thank you. here we go. the president tweeting about the

market again. here we go. i will read it for you. stock market up big, new and historic record, jobs, jobs, jobs. the president is right. we've got a terrific rally going on right now. now this. controversial quarterback colin kaepernick will have a private tryout with about a dozen nfl teams tomorrow. we have one of the top sports agents of all time coming on this show. the real life jerry mcguire on whether kaepernick should stand for anthem -- for the anthem if a team signs him. good question. eddie murphy partnering once again with netflix. they just acquired the rights to murphy's classic '80s flick "beverly hills cop." does that mean a sequel is on the way? we will tell you. meantime, roll that tape. >> i just got off the phone with an inspector in detroit. he said if you're out here investigating the murder, don't bother coming back. ♪ >> the man who claims to be on vacation, you look a lot like

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stuart: i remember "beverly hills cop." that must be 30 years ago. are they bringing it back? lauren: they certainly are. netflix licensed the rights to "beverly hills cop" with eddie murphy, the fourth sequel from paramount. so paramount giving netflix the rights. why? sequels, prequells, returns of famous shows and movies are back in a big way. nostalgia. and streaming, also eddie mur y murphy. there's reporting netflix could pay him about $70 million if he does standup for netflix.

stuart: so there's big money for eddie murphy at netflix and they will probably bring back "beverly hills cop." interesting. that's perfect for netflix. now this. colin kaepernick known for his not standing on the national anthem, has been out of football for a few years but tomorrow he will hold a private workout with some nfl teams, privately, to try to get back into the nfl. here's what former auburn coach tommy tuberville had to say. roll it. >> well, if he can play, let him come back and play. but stand up for the national anthem. you know, because that national anthem and that flag give him the opportunity to do what he wants to do, to get back on the football field, play quarterback. not many countries give him that opportunity. stuart: let's see about this. ceo and founder of steinberg sports, lee steinberg with us now, the ace agent himself. would kaepernick have to stand for the anthem to get a team to bring him back on to the field? >> i think the first question,

stuart, is going to be whether or not he has the requisite tale talent to play that critical position. football is now a quarterback-centric game, so the first question's going to be is he in shape, can he still throw. he would need the right offense, something like the baltimore ravens would make him successful. then i would guess that he's made his point in the most dramatic way. he not only made it in kneeling, but he also had the nike campaign built around him, honoring him. so the concept of protest is not to protest endlessly, it's to protest to make your point. stuart: you think if he's fit and if he's real good again, still as good as he ever was, if given those circumstances, a team would bring him back and you think he would stand for the anthem?

>> yes. and i think -- remember, this is a position very hard to fill. we are probably talking about next year because he has not been in a training camp and it would be very hard for him to fit in and adapt this season. we are probably talking about -- stuart: it would be a great move, though, for football, because it would calm the situation. he's back, he's been out for a few years, he did his thing, he's back, back to normal. that would be a good thing. >> it's been an open wound with one camp feeling he was kept out for political beliefs, the other believing that he wasn't willing to start over again. but to put it to rest would be a positive for football. stuart: yeah. let me talk major league baseball because they are investigating the houston astros after allegations of sign stealing. look, i don't know much about this but it seems to me like this is a major cheating scandal. how big a deal could this be? >> it's always been sign stealing in baseball, and

there's not even a rule against it when it involves players on the field. so this is nothing new. what's new is the electronic nature of it. it's using apple watches or using a center field camera and it gives a team an unfair advantage, so i would expect the commissioner to move dramatically on this point to ensure the integrity of baseball. stuart: okay. so it is a big deal. i mean, could players lose a lot of money? could some of them be out of the game? could some teams be sort of -- i don't know what the right expression is, but i mean, forfeit some games or something? >> well, for example, they are talking about houston and the dodgers in the world series, which is particularly painful for me because umi'm a dodgers fan, but the reality of the situation is it has to involve an organization. it's not individual players when it's electronic. so we are talking about

potential fines or giving up of draft picks for teams and franchises. i think they will be the ones penalized. stuart: lee steinberg, great to have your expertise on this program. i'm kind of at sea about football and baseball but you know what you're talking about. we appreciate it. thank you, sir. >> thank you, stuart. stuart: okay. it's great the man smiles. next case, kanye west. got a new song called "closed on sunday." you might think it has something to do with his god squad transition and you would be right. it's also got something to do with chicken sandwiches. what? we will tell you all about it, play it for you after this. ♪ imagine traveling hassle-free with your golf clubs.

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alone. kanye west has got a new song out. he mentions chick-fil-a. we will play the clip right now. roll it, please. ♪ ♪ stuart: chick-fil-a is a christian-based organization, fast food chain. i believe kanye west has become a born-again christian. lauren: he is also a gospel rapper. jesus is king is the album that song is on. this weekend in houston, texas, he will do his so-called sunday services at joel osteen's theater. yeah. he's seeing god. stuart: okay. good for him. the song's title is "closed on sunday" because chick-fil-a is closed on sunday. it is a christian organization. all right. got it. thanks very much, lauren. pop star taylor swift, she has been given permission, yes, she can perform her older songs at the american music awards.

this is a turnaround. deirdre: a huge turnaround. the event is november 24th. taylor swift and the people who essentially own the rights, the lyrics to her first six albums, let's just say they really are having an unpleasant relationship at this point. she had said in a public post on a blogging post that she couldn't perform songs from her first six albums because of the fact that her former label owned the rights and they were blocking her. tmz reporting just an hour ago, they are responding, the former album owners, saying it was a calculated move that taylor swift made by engaging the public created to hurt people. this is just a huge risk. long story short, she can sing her songs, all the songs, no matter who owns what rights, and on november 24th she is meant to get this artist of the decade award at this particular amas, american music awards. lauren: netflix is making a special on her as well.

now according to big machine, her old records, they can use her stuff as well. stuart: oh, okay. she's got what she wants. deirdre: both sides are saying the other side is lying. stuart: she got what she wants. she can sing. okay. good. now, i don't want to give anybody any ideas, but we do read your comments across all of social media, the good, the bad and the infrequently ugly. coming up, i got a good one. it's about my producers and how i talk to them. this ought to be good. keep it here, please. ♪ does your broker offer more than just free trades? fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. (groans) hmph... (food grunting menacingly)

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♪. stuart: wait, wait. i can hear the lyrics. to late to apologize. why are we playing that? i'll tell you why.

deirdre will read a viewer email about me. >> a little rough, stuart a bit of advice. try not to be verbal by unkind and aabrasive to the production staff who put up numbers for you. i lessen to your show when i drive into work on sirius xm. your snotty hole -- holier than thousand attitude gets magnified when it's just audio. you end up sounding like an ass, even though you are kind to your guests. stuart: i'm a calm british accent. >> we push the show forward. we respect you for that. >> fishing for compliment. stuart: you cannot be on television unless you're a narcissist. >> talking about him on the

elevator back up. i'm joking. >> i guess mine and lauren's last day. stuart: we're a hard driving show. we move rapidly. i want clarity at all moments. i don't want obfuscation, or jargon of the get on with it. we have a terrific story. we're not covering impeachment stuff. we're not covering that, we're coughing left-hand side of your screen. we're looking at dow industrials close to 28,000. may i remind everybody, march, november 8th, 2016, the dow jones industrial average was at 18,000. we're now real close to 28,000. er in other words from trump's election to now, the dow has gained 10,000 points. value of stocks have gone up $10.8 trillion. that is a rally and 1/2. that is something to be clear

about. that is covered with depth of excitement. that is enriching america. it is enriching every single one of us. way rather concentrate on that, whatever i choose to describe it as impeachment in d.c. i don't think much to that. i love the market. neil, it's yours. neil: thank you for reading my email. stuart: that's good. neil: have a great weekend, stuart. as you said, my friend. we have all three averages well into record territory. as you also said in middle of impeachment talk. roger stone is finding out guilty on all seven counts against him something, if he had to match commensurate jail time he could behind bars the rest of his life. trade talk are looking up. economic numbers are looking okay. the pace of corporate earnings looking promising. go to john lonski, following this closely, moody's capital markets chief economist. john, i