people are entitled to before that court. one of many, 17 different misconduct acts, the id was able to uncover. maria: john, great to see you. thank you very much. john sullivan joining us, markets are rallying and i will get you usmc a to the floor and delaying the tears on china. i pass on to "varney & co." who takes up on all of that. stu, over to you. stuart: i know you will join me shortly. good morning, maria, good morning everyone. this is the date the impeachment charges are laid likely to be narrowly focused on abuse of power and obstruction of congress. this is the day the pundits pick through the id reports and attorney general says, it reveals fbi misconduct. he says the report does not justify the investigation of the trump campaign in 2016. this is the day when there is supposed to be in agreement on a usmc a deal and speaker close he will hold a news conference on it in one hour.

yes, this is the date when the president comes out swinging. there is a keep america great a rally tonight in the battleground state of pennsylvania. you can expect choice words about impeachment. here's the great unknown. president meets russia sergey lever off at the white house this afternoon. what is that about? we have a big show with lots to go at so let's look at the left-hand side of the screen getting ready for the announcement of the impeachment charges for the market will open higher this morning and the big concern today, not impeachment but it is sunday's china tariffs. just announced about a half-hour ago u.s. and chinese negotiators are considering a delay in the tariffs. that was enough to turn the market around completely. we were down over 100 points but now were pointing towards a 20-point gain for the doubt with a small gain for the s&p and yes, small gain for the nasdaq as well. i will call that a rally and this is on the back of that

china trade news that was announced this morning. as maria, is she in her studio? maria: yes, stuart, i am. stuart: this turnaround in the market is entirely due to the news on china trade, right? maria: absolutely. investors are looking at this insane at least we are still active in negotiations. there's not a deal that is dead and it's not going to be a major fight and the president deciding to delay these tariffs on december 15 is giving an olive branch to the chinese is a chinese make promises in terms of buying tens of billions of dollars in agricultural. little by little the coming together on the things they want. you still need that forced transfer of technology and intellectual property issue dealt with until you get that you don't see a big deal but i think markets would like to see a skinny deal, if you will, just on market access into china on agricultural byes and these tariffs going away. stuart: maria, hold on. i'll get back to you.

viewers can see on the left-hand side of the screen gearing up that news conference to be held by speaker pelosi and i believe chairman nadler. they will be announcing very shortly, we believe, the two articles of impeachment. we believe it's two articles of impeachment with obstruction of congress and abuse of power. we will take you there momentarily but right now i want to bring in "the wall street journal"'s kim stossel who has written very and incisively on the subject since the election of mr. trump three years ago. kim, in your opinion of the democrats built a strong case for the removal of the president? >> while, look at those two articles that we think are what is coming out. the problem with them is their unprecedented and so it's difficult to sell them to the american public. look, obstruction what we are talking about is democrats are mad the white house will provide certain documents and members to give testimony but this happens all the time this back-and-forth.

it usually settled by the courts but not we make it an impeachable offense? similarly abuse of power, what is that? there's no statutes outlining abuse of power. it's in the eye of the beholder. this is why you see those polls showing democrats having a tough time convincing independents in particular of this case. stuart: do you think this piece of pelosi would go forward with the vote unless she is assured that she gets all the democrats on board to say yes to impeachment? >> look, speaker pelosi made this decision. she's not going on this this week. this decision was made the minute she decided they would open a formal, informal impeachment inquiry. once that freight train was running there's no stopping it. if she doesn't hold for the vote on this regardless of how many members she gets in the end her liberal base will lose its mind. she has got to go ahead with this. you will see arm twisting going on the next several weeks.

i think there is a very narrow caroling of these articles was designed to help bring aboard those moderate members. stuart: hasn't got the public's backing? i don't attacked groundswell of opinion that says we got to get him out of office. >> no, it's the opposite. if you look at these amalgamations of impeachment polls support for impeachment has dropped since they started these impeachment proceedings. in particular you see that happening among republicans and independents even some democrats. then you go and look more closely at these battleground states and you're starting to see, if i were a democrat alarming news coming out about the number of people that disapprove of this entire impeachment process and increasingly are growing in their approval ratings of donald trump, as well. stuart: hold on. kim, i want to bring back maria. what have you got to add on this impeachment debate? maria: i want to mention something that is right in line with what you and kim are talking about.

about one month ago i had on sunday morning futures the democrat congressman from new jersey, jeff van drew, on my show he said, stuart, i am a no on impeachment. i am voting no on impeachment and i do not believe that we should be wasting people's time and there is nothing impeachable here. he was very adamant. i said congressman, do have other colleagues that feel the same and he said i have a lot of colleagues that are coming up and saying we are concerned that were not getting to the americans peoples work at john. i want you to know in the last two weeks i tried to get jeff van drew back on my show and he has been shut down but he will not come back right now. says no, i have to take a break. he was so adamant it's clear meet nancy pelosi said to him, and zip it, jeff van drew. stuart: why am i not surprised? i taken out to the podium where i see chairman nadler, speaker pelosi now speaking. >> on this solemn day i recall the first order of business for members of congress is the

solemn act to take an oath to protect and defend the constitution of the united states. with great respect and gratitude that i think the chairs of the committee the six committees had been working to help us honor our oath of office. i also want to thank the staff of those committees and the committee members for all their work over this period of time, to help us protect and defend. i want to thank the chairman of the judiciary committee, mr. nadler, chair of the intelligence committee, mr. schiff, chair of the ways and means committee, and chairman richie neil of massachusetts, chair of foreign committee eliot engel of new york, the chair of the financial service committee, maxine waters of california, the

chair of the committee on government reform and oversight, congresswoman carolyn maloney. i also want to acknowledge the important work that was done by our deere and departed, may he rest in peace, elijah cummings of the oversight committee. please yield to the distinguished chair of the judiciary committee, mr. nadler. >> thank you, madam speaker. over the last several months the investigative committees of the house had been engaged in an impeachment inquiry into president donald trump's efforts to solicit foreign interference in the 2020 elections elections. efforts that compromise our national security and threatened the integrity of our elections. throughout this inquiry he has attempted to conceal the evidence from congress and from

the american people. our president holds the ultimate public trust. when he betrayed that trust and puts himself before country he endangers the constitution and endangers our democracy and endangers our national security. the framers of the constitution prescribed a clear remedy for presidents who so violate their oath of office. that is the power of impeachment. today, and service to our duty to the constitution into our country, the house committee on the judiciary is introducing two articles of impeachment charging the president of the united states, donald j trump with committing high crimes and misdemeanors. the first article is for abuse of power and it is an impeachable offense for the president to exercise the powers of his public office to obtain

an improper personal benefit while ignoring or injuring the national interests. that is exactly what president trump did when he solicited and pressured ukraine to interfere in our 2020 presidential election. thus, damaging our national security, undermining the integrity of the next election and violating his oath to the american people. these actions moreover, are consistent with president trump's previous invitations of foreign interference in our 2016 presidential election. when he was caught when the house investigated and open an impeachment inquiry president trump engaged in unprecedented, categorical and indiscriminate defiance of the impeachment inquiry. this gives rise to the second

article of impeachment for obstruction of congress. here to we see a familiar pattern with president trump's misconduct. a president who declares himself above accountability and above the american people and above congress power of impeachment which is meant to protect against threats to our democratic institutions is a president who sees himself as above the law. we must be clear that no one, not even the president is above the law. i want to recognize the great contributions of the investigative chairs, particularly intelligence committee chairman adam schiff. >> ladies and gentlemen even watching history. the articles of impeachment has outlined by chairman nadler, abuse of power and obstruction of congress. kim, you are watching this your immediate reaction, please. >> my immediate reaction was the words we did not just here there, stuart which were bribe

bribery, extortion, quid pro quo, pay to play so these have been the words of the democrats been using for the last couple of months and i don't know if there was a focus poll in the end or if their leader scholar said you can't make any of these stick under the law so now we have this somewhat vague and nebulous abuse of power claim and again the unprecedented decision to turn obstruction or fights over documents and testimony into an impeachable offense. all of this is brand-new. we never had this in the history before. speaking of our constitution. stuart: maria bartiromo, i noticed no change in features. in other words the announcement of the two articles of impeachment made absolutely no impact on the stock market whatsoever. maria: this is a good point, stuart. the bottom line is we got all of this wall-to-wall coverage on the impeachment and we had the ig report dropped yesterday with all these very impotent things happening and had nothing to do

with the american people's business. that is the bottom line. we've got impeachment falling in terms of rain needs and interests and interest rising and things like u.s. mca and things like jobs number that was out on friday, 266,000. what i find extra dinner, my take away, his incredible ability for this group to completely ignore true wrongdoing as "the wall street journal" editorial board writes this morning a trail of fbi abuse. kim stossel has written kindly well in terms of adam schiff getting phone records of the president's lawyer, rudy giuliani and donna solomon a reporter of congressman devon nunez. where is the media outrage about the incredible abuse of power of adam schiff obtaining these phone records and putting them into the public and creating this speculation like why can't john solomon called rudy giuliani? so what. reporters call sources all the

time but this whole idea that there's something nefarious was the whole point of getting it into the public view. no move in features and no kidding, it has nothing to do they make in people's business and this constant consistent ignoring of real wrongdoing will bite them at the end of the day and i think voters will see right through this, frankly, i really do. stuart: left-hand side of your screen, adam schiff explaining the evidence that went into these two articles of impeachment. kim straw full, one last word from you. i've been listening with half an ear to chairman schiff, it seems so of secure. it's not clean-cut. that is what i take away from this. >> again, that gets back to that shifting narrative in the beginning. democrats have been throwing out all of these terms one after the other to see which one might resonate with the public. some of them had sounded very serious. bribery, for instance, or

extortion. when you look at the facts look at that phone call transcript. again, everyone has seen it for themselves and most americans don't see that they are there. political impeachment is fundamentally a political tool. you have to convince americans that what you have done is legitimate. i think the bottom line here is democrats have not passed that bart yet. it's hard to see how they do with these obstruction are these two charges. stuart: is fascinating to see literally history is being made as we speak, i believe this is a third time in america's history that we've gone forward with impeachment proceedings. at the same time what is america paying attention to? we got a stock market gone up as maria said a buffalo economy and i got word from j.p. morgan that they are looking towards 2020 and expecting the s&p 500 to go up another 8% which would be another whopping gain.

here we are enjoying prosperity and enjoying a brawl of stock market rally that has an wrenched millions and millions of people and on the left or on the right-hand side of your screen history is being made as our president, to some degree, the architect of this prosperity is being charged with impeachable offenses. maria, your comment, please on j.p. morgan suggesting the s&p goes up 8% next year. maria: this is one of the issues the democrats do not want to touch, stuart. that is why you're not hearing it. this is by design. they don't want to talk about on a plane rate that that a 50 year low they don't want to talk about consumer that is feeling good and they don't want to talk about the fact that income inequality has narrowed. income inequality for the first time in a long time is improving because you got the bottom earners scene wages go up much more than the national average, nationally your saint wages up 3.1%. note what the bottom's are

singing their wages up - seven, eight, 9% gains in wages. these are issues the democrats don't want to touch but they only want to come up with this it's a solemn day and were upset and we have to impeach a president. no, you don't because what it is is thin evidence. the same thin evidence that the fbi used two wiretap and innocent american citizen. again, ask my media colleagues where is the outrage? stuart: well said indeed, maria. at 10:00 a.m. this morning we are supposed to hear from speaker pelosi about u.s. mca, the new nafta. we understand an agreement has been reached and maybe they will be a vote on it before the end of the year, in other words, that is a trumpet success. kim, it seems to me that democrats are playing this out for all it is worth and playing out impeachment much as they can to bury and suppress the excellent news on u.s. mca omma which we are expecting minutes

from now. >> although on the other hand, stuart, maria just said they don't want to publicly talk about the economy or publicly talk about these successes but look, nancy pelosi has had the ability to move on u.s. mca for months now and has not. in my mind the fact that she is doing so, i'll be at silently, is a democratic recognition that they, in addition to impeachment, had better do something of value to the country. they need to be able to, at some point, go out and say to people who who work in these trade unions and all the folks with farmers who will benefit from this trade deal we did get something substantive done. this is a reduction of the polls out there showing americans want progress on key issues and getting tired of the drama. stuart: those of our viewers who may just be joining us let me ask client what is going on here. we have articles of impeachment filed minutes ago by speaker pelosi and the chairs of the six

committees which investigated the president for the last several weeks, months i should say. that is what is going on left-hand side of the screen. early this morning now industrial futures, stock market, would be sharper lower but along came news about china tariffs. supposed to be imposed on sunday, literally a few days away but now we understand negotiators for both sides will talk about a delay in the imposition of those tariffs. that is a plus. that's a very big plus for the stock market and it turned around completely. doubt will be up maybe 20, small game for s&p, a small gain for the nasdaq but again nonetheless. chairman schiff has finished his outlining of the evidence which propelled him to wear these two articles of impeachment. i see him leaving the podium now and at moments of history is over. presumably, speaker pelosi will go back to her office and organize her thoughts for the

10:00 o'clock press conference where she will reveal u.s. mca. so we are told. we shall see. what a juxtaposition for history be made by the impeachment of the president and the stock market rallies and goes towards record highs. that's exactly what is happening as we speak. susan lee is with me, any comments, susan? >> we head into an election year in 2020 and the stock market usually rallies but what they're telling you is most people on both sides of the aisle expect the impeachment to be dead in the senate so they are saying no effect whatsoever on your money. stuart: i want to get the last word to kim. thank you for being with us. last word to you, please. >> while, this is good news. again, a lot of what the president does in terms of economy will come down to these trade deals and it's good news for the administration for its political future than it is getting some of this stuff done. stuart: thank you for being on the show, kim.

you have written so incisively about this for many years and i'm a great fan for it thank you for being with us today pretty good stuff. maria, the president goes to the battleground state of pennsylvania tonight. i say i think he will have a choice words for the impeachment process and i think he comes out swinging. what say you? maria: for sure but especially if he is u.s. mca in his pocket but she's got to announce u.s. mca coming to the floor within the next 48 hours because don't forget what happened over thanks giving holiday, stuart, you had all those democrats going home to their constituents and their constituents said to them what have you done for me lately and the answer was nothing. we been wall-to-wall impeaching the president that just give you one of the greatest economies on record, 31 districts president trump one, those congressmen they need to get reelected and that will be the rub. will they vote for impeachment, if so, are they writing their exit out of that district? stuart: thank you, maria. glad you stayed on the show for a little bit.

your contribution was invaluable and we appreciate it. come on in, please. we have with us rnc spokesperson. liz, i'm sure you're watching what i am calling a moment in history. your response. >> it's a total abuse of power but by the democrats and congress by trying to impeach a president for doing nothing wrong but here you have abuse of power with adam schiff secretly colluding with the democrats and a leaguer to concoct this whole thing and it's an abuse of power to not allow the president to face that accuser. it's an abuse of power for adam schiff to be releasing the phone records of journalists and of his political enemies on the same committee. what are the democrats talking about here? it's utterly incoherent and if you will try to impeach a president just because you did not like the fact that he won the election you will not convince the mac and people. stuart: what will the president say tonight in hershey, pennsylvania? >> he will defend himself and

say look at this economy and pennsylvania and throughout the country and this is why the democrats are trying to baselessly impeach me because they have nothing and who are the real election metallers? they're trying to damage an incumbent president who's ushered in the best economy in modern history with lowest unemployment in 50 years, record low on appointment across the board and every demographic, wages are rising for 16 months straight over 3% and they are trying to impeach me. it's absurd and a complete farce and a disgrace to the president is protecting the constitution. the democrats are shredding it. stuart: we've been saying all morning that when this gets to the senate it is dead. the senate republicans are locked rocksolid in rejecting the idea of moving this president from office 11 month before an election. is it true to say that the republicans, in the senate, are locked solid, united against impeachment? >> absolutely. this is a complete abuse by

democrats you can't have a vague notion of abuse of power with no evidence and no wrongdoing. when, in fact, it was the president's duty to safeguard our taxpayer dollars and make sure that they weren't going to a corrupt place or a corrupt country. all he said on that phone call was how can you be concealing evidence when he released the transcripts mac all he said is i want to president the one seat to do the right thing and what he ran on. what will the democrats do when they what they've ran on? they've done nothing for this economy or border security and nothing for infrastructure and healthcare. it's a complete abuse, throwing everything out there, extortion, bribery, pull testing i think they think abuse of power holds well and they should look at the battleground states not pulling well these days. stuart: the president speaks and pennsylvania, battleground state, swing state, voted for the president in 2016 grid do you have any idea if the rally schedule from there on out -

>> it will be hershey tonight and these things are fast moving targets and usually they are a week or two in advance but we will be back in all these battleground states and expanding the map as well. we've already been in minnesota and rallies in new mexico. we are expanding the map because we have a winning message but think about pennsylvania for 2600 new manufacturing jobs but under obama and biden they lost 51 manufacturing jobs. manufacturing is coming back and because of the policies of the president trump. no magic wand required. stuart: okay. i think we got a big thank you, liz paid to all the people who contributed to our show this morning, what a start. liz harrington, thank you indeed. look carefully at the futures. you may be with us this morning watching the impeachment progress grind on but make no difference to the stock market whatsoever. we have positive news on china trade earlier in the two sides may be talking about the lane

the imposition of tariffs on sunday because were close to that deadline and may be a delay there and that is considered the positive but the markets went up and totally ignored the impeachment proceedings. may i just take a moment to take a look at apple for a second. it is now up on this positive trade news and earlier it was down because apple would have suffered had there been imposition of tariffs, sunday. it looks like tariffs will be delayed and apple turnaround gone up $2.68. susan even studying the story, anything to add? >> given there were concerns that ipads and iphones would be hooked up to the terror of starting 15, if that goes into imposition it looks like apple might suffer or present hit on its profits. they make $60 billion each year in profit. one of the most profitable companies on this planet and

it's very bullish on this stock as most people and you heard from jane yesterday 350 and whether bush even though they do expect of 4% hit if those terrorists do go into effect they outperform an expected hit 325 and if those tariffs are pulled back the go to 5% tech rally heading into end-of-the-year. >> is this superpowerful macbook pro - >> high end machine looks like a cheese grater that you see that we are covering when president trump went to tour the factory where they will assemble the mac pro in the future along with apple, tim cook. there is great it shifts but on december 10 it will make be made in the usa and austin, texas. would it have been made cheaper in china? possibly but this saves u.s. jobs but obviously there is a building relationship between the trump administration and apple and this saves jobs in austin, texas but they don't expect to ship a lot of these since these are more for the specialty, audio, visual jobs

but nice to keep jobs in america. >> the value of the apple company is now $1.2 trillion. a couple of months ago across the trillion dollar mark and now it's almost one and a quarter trillion. >> apple, microsoft of the two stocks that have driven the 25% again, as we have seen, in the s&p this year. these two stocks have rallied 67% for apple, over 40% for micro soft. stuart: we spent a lot of time covering micro soft and apple and amazon because they are the drivers of this market. i have known what sitting next to me and he was waiting to go on the eye at 9:30 when the market opens but he would buy apple at 268 - >> i would braid i own it and i'm looking to buy - you know me, i love to buy a dip when we get one but you covered very well recently about what's going on with wearables and the services business and the wearables business is a fortune 300 and now 200 business and the

services business is of a fortune 50 business, stuart paid those are pieces of what apple is doing. they have done a masterful job saying we will keep selling iphones and do other really big things. stuart: you can understand some politicians, for example, being wary and worried about the apples and the microsoft's in the amazons and the googles and the facebooks of this world because they've got so much money and together they are worth four, $5 trillion and they got hundreds of billions of dollars in cash on hand, exceptionally powerful and i wonder who will rein them in? >> why would you rein in american capitalism driving the market prosperity for the 401k's -. stuart: wright, crown jewels of the economy. >> this is the strength of america is innovation, tech innovation and giving services that everyone around the world can use and in some ways democratization on the internet. stuart: there you have it.

they are all applauding paid they're applauding on wall street, that is big this is a tale of two locals. in dc they just announced the articles of impeachment, two of them, but in new york city they are cheering on the stock market with it about to open and will open ever so slightly higher but in fact it will open at or very close to an all-time record highs. they made a liar of me. were down tolbert sorry about that. we just opened with two, three seconds in and at the moment were down about 1920 points. there you have it. if you look on the left-hand side of the screen not that many winters winners. i'm counting nine winners out of the dow 30 and the dow is down 28-point bid s&p 500, any difference there? down the tiniest of affections. i call that flat to ever so slightly lower and the nasdaq compartment because that is where the techs are among zero

change. down .01%. now it's unchanged but 862,100 go back to apple, the market is open at 267 as we speak. and why don't we look at pella tog. we are at 3493 up another 16 cents and the ceo is doubling down on that controversial ad. he says will keep on running that thing. and we have this. a bullish call on the market from j.p. morgan and investment firm and says s&p 500 will be up 8% next year, 2020. getting a lift from the accelerating economy. that's quite a forecast. >> yes, and for a big investment house. they are traditionally very conservative so for them to come out with his number is a very bullish, i believe, on the tail end of what we're saying going into the end of the year. stuart: of susan. >> as i mentioned, as we head

into election years the average gain of 12% for the s&p 500 is fantastic and that's with a 90% hit rate meaning 90% of the time it goes up. stuart: the year before the election. >> 2020 no, the election -. stuart: oh, the year of the election. >> right now we have j.p. morgan higher than the street average which is taking 5% gains 42020. that's pretty positive. any fund manager will close their books after eight but if they can make more at 15 that's fantastic. stuart: i've been doing this on time and i can't remember an 11 year long bull market. i think that's what we've got. >> that's because there hasn't been one, stuart. [laughter] very true. stuart: i'm losing my memory. >> to get back on the u.s. and china repeal of the tariffs on december 15, a sticking point and you read this everywhere including "the wall street journal" is that china needs to step up and bite mark agricultural purchases.

they came out with a report this morning that says soybean purchases from china went up 53% in november. yeah, they are trying to get there and maybe 30, $40 billion is what steve newton said will get in the second year of a trade deal may be still far away but they are trying to step up and get these tariffs repealed which is positive for the market. stuart: let me move away from apple, impeachment, overall market and look at peloton. they've been bouncing back from the flap over that controversial ad. would you - i don't want to, too far down the market but nonetheless, would you buy peloton at 34? >> i would trade peloton for this is a stock that will continue to go up and down, up and down with their new model which is ultra high profit margins charging a very high price to a fewer number of people i would love to have some

of this stock when they announce a downmarket version of what they are doing, stuart will be the equivalent of tesla model three. that's what we'll juice this stock. stuart: you better stay with us because it's the 11:00 o'clock hour who do you think we have with us - the gentleman who was in the original ad. the husband is with us on the show in the 11:00 o'clock hour. did that make him or break him. >> i should point out oppenheimer raise their target price on peloton a stock $239 and $38 and this is because peloton despite the whole commercial hoopla and we have brands recovering from this type of shall we say controversy like gillette and nike, people look at peloton and the gross rate of sales up 60% heading into the ipo and retention of over 90%. what if you have a peloton you stay on it. stuart: big deal but here's a big deal for soccer fans. don't turn your tv sets off, please don't do that. we reported that the new york yankees baseball team will be

streamed on amazon and get this, amazon is going to stream championship league soccer games from germany. let me explain something. champions - the championships league in europe is the club competition for the best club teams in the world. amazon is getting its foot in the door streaming championship league games from germany. it's just its foot in the door but this is what we've been waiting for. streaming of live sports on amazon. >> germany is the second biggest market for prime customers, stuart. this is a play for that beautiful reoccurring prime revenue that amazon and other companies like telecom love so much. stuart: they got nothing on english premier league soccer. hold on, i got a tweet. presidential tweet. america's great usmc eight trade bill is looking good.

it will be the best and most important trade deal ever made by the usa. good for everybody, farmers, manufacturers, energy, unions, terminus support but importantly we will finally end our country's worst trade deal, nafta! there is an announcement coming on this at 10:00 o'clock this morning, speaker pelosi who will decide whether or not and when there will be a vote on usmc eight. 10:00 o'clock this morning she makes the announcement could i would have thought that might have had something positive but so far it has not affected the market down when he points on the dow industrials. comcast, parents of nbc, will spend about $2 billion on content. i guess that this is their streaming service spirit that's right. peacock will debut in april and they are excited to spend about 2 billion so compare that to disney, apple plus which they spent a billion dollars on were not even talking content because we don't disney has spent on a money on content and netflix

spent 13 million last year and cbs is doing the same as well according to cherry red stone but peacock is different from the hulu's and netflix and even disney. they will be heavily relying on advertising for subscriptions. it might be cheaper and available for comcast and broadband subscribers. you get peacock for free but you get commercials with it. stuart: how many streaming services are you prepared to pay four? key. one after the other launching. >> and d. if you don't include cable which is another streaming service of content provider we are already paying for three. i get to share it with the adult kids and that is average but could i go for another one? disney is yanking at me to watch their "star wars" show and i think that will be in but i don't think going to five or six is in the cards for the barton's and i think for most consumers the same sentiment. stuart: i thank you are right.

three, may be for for the average household in the united states. that still means you bill for entertainment on your big screen, tv screen. it will be huge and go up from here because he still need an internet connection that you have to pay for and then you pay for streaming services on top of that. some people want to keep cable for live sports and news. >> you can do that on a streaming is offered hulu offers a live tv package and that includes sports but i would say it so dispersed right now and they are so much money going into content that there will be winners and losers and who will buy who? will there be eight of these over-the-top streaming services. stuart: new trumpet tweet. sec. of the morning. here we go. president trump says - looking like very good democrat support for u.s. mca. that would be great for our country. again, the president talking up

the trade deal with mexico, canada and the united states. the announcement comes at 10:00 o'clock. something has gone on with the markets. all of a sudden and i can't put my finger on it but now we are down 99, 100 points basically and 27,000, 800. do think this could be algorithms? reading a headline on impeachment or something. computers read the headlines and pressed the sell button? >> i don't think the impeachment moves the needle at all. when they started reading the articles we were at plus 20 on the dow futures when they ended we were at plus 17 so i don't think that did it. i think we may be getting a rebound effect here from the good china news because that in the market. >> that might be the case for u.s. mca which has been baked into the markets for so long. we are expecting this rewrite of a trillion dollar trade deal for so long that it might be okay here we are let's sell off on

some of this. stuart: when we come on the air as a down triple digits, down 90 points a little perspective here 92-point loss is one third of 1%. you are dealing with an index that's close to 28,000 so a loss of 90, 89 points right now is not a catastrophe. it's not the end of the world. >> it would've been a bigger deal back in 2016 before the election on the doubt was that 18,000 before president trump was elected into office and we, along way up from there. stuart: may i say as a younger man back in the 1980s on a different channel, we once put on a special hour-long program on the stock market which had gone up 38 points. puts out the flags, sports fans, that was a big deal back then. index was around 1,000. thirty-eight-point again was quite sunny. check that big aboard, we are

dow down 95 points for the dow, down 18 for the s&p and down on the nasdaq composite but the loss appears to stabilize minus 100 big news day and continues. next hour i've got to tell you about this. we have the announced one u.s. mca coming from the house at 10:00 o'clock this morning and i would assume that was good for business, good for the economy and i would have assumed it was good for the market but not taking it that way at the moment trade then the next step, what is it? i want to see a vote. when you beget a vote on u.s. mca? maybe we'll find out at 10:00 o'clock this morning but in other news, couple churches in california using their nativity scenes to make political statements. mary, joseph, jesus in cages. dalton morris is here and we'll have something to say about that. yes, more evidence the consumer is a strong grid we show you how much the average american is spending for the holidays but that is next.

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stuart: we understand the president's chief of staff, mick mulvaney, has had had something to say about this possible delay in the imposition of tariffs, sunday. when we got that news of a delay the market went up, nicely rebounding. mick mulvaney comes out and says according to zero hedge, that is where i'm getting this from, he said look, it depends on how the talks are going good there is a condition put on the delay of these tariffs. it gets picayune, entirely detailed and a nuance is very important on either side here. we've come back and now down 80 points. it's not the end of the world. got it. i have a number for you. $700 is the average than

americans will spend this holiday season. that's according to yuko. about they were a british operation but nonetheless they're coming over here and telling us what we will spend. retail watch michael is with us. $700 that's a person for the holidays. does that sound like - you know a big deal? is that a lot of money? i tried hard to understand it. >> yeah, i look at numbers we've done research at my firm and looked at the nrs numbers and we think it's maybe more than that, closer to a thousand-$1,100. stuart: per household? >> no, per person. stuart: you could get up to a thousand dollars per person on average. >> we are including everything there. gift buying, travel, meals, food, beverage and this should not be surprising. we know that retailers make about 70% of their money in the holiday season.

the november december time. is there time to make money and this is our time to spend money. it's another sign that the american consumer is common in this season lots of evidence of that. we are intrigued about the structure of the retail business. particularly intrigued about bricks and mortar in this announcement. dollar general will open its 1,000 stores next year, 1,000 stores? >> 2,00012000x and mortar stores from dollar general next year. >> looking to open 20 a day. stuart: 20 a day across the country? >> yes. stuart: in america? >> yes, in the u.s. stuart: that tells me if you have a particular kind of product you are selling bricks and mortar are doing fine. >> listen, we had a conversation over the last ten, 15 years on bricks versus cliques. will online kill bricks and mortar retail?

and the new retail environment it's the rediscovery that your store is the most important element of your retail operation. even in the best case scenario three years from now 80% of purchases will still be made in a bricks and mortar environments. stuart: how do you know that? i see so much stuff going online and so much going to amazon i can't believe that this is - three years from now i still will be buying 80% of my stuff in the store. >> absolutely. yet, it's true. i think what people are mistaking for what they call a retail apocalypse is we've had something of a store apocalypse. the big chains closing and thousands of stores closing makes the headlines but online native companies like were be parker and casper they are all opening new stores receiving action from digital native companies and a lot of them market our opening new stores. bricks and mortar is alive and

well. stuart: are you deaf on department stores? >> still on the department store deathwatch. that is what's happening here. received department stores in decline and it's a model that does not resonate with people anymore. the result is the malls that these department stores anchor are going by the wayside as well but people aren't spending and it's where, how, why they are spending. stuart: i believe you are winners list is target, walmart and amazon. >> absolutely. those are the big three in the u.s. but were seen other companies do well. stuart: give me another big one. >> i really like what some of the digital native companies are doing. stuart: digital native - what is that? >> people like dollar shave club and or be parker and also i think we are seen a big movement in the secondhand market today

so you are seen retailers who are focusing on sustainability worth the secondhand market and i like things like rent to the runway who have basically you can rent your good tour and all these companies are doing something different. here's the one thing they have in common is they now use their online platform as the foundation for what they do off-line. when the traditional model was you took your off-line model and used it to promote online. stuart: okay. i don't feel part of this modern world. there you go. thank you for joining us. good stuff. check the dow 30. we've come back. we were down 100 now were down 60, two thirds of the dow 30 are in the red. we are down 58, 60 points. there you have it. what about this? the actor who plays the husband in the controversial peloton ad is sean hunter and he joins us but he's on the show at 11:00 o'clock this morning. we will be back with more if you

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stuart: stabilizing with the loss of a 60 points without industrials and coming up in six and a half minutes from now the formal announcement on usmc a. we expect to hear there is a deal and hopefully we will hear

when it will be put up for a vote. former trade official, peter joins us now. peter, i know you've seen this deal and the broad outlines of the deal but is it good for america? >> absolutely. i always thought nafta was a good deal but nafta was created and i was involved with that before the digital age. this expands it into the digital aid in providing guarantees for american workers about jobs not going to mexico because of cheap hands. there is the minimum requirement for certain wage rates in the automotive sector and things like that and it will open up export opportunities and a whi while. stuart: it'll be a while before we get a vote and it'll go to the senate and through all of that so it will take a while and is that delay of problem. >> it is a delay since they'd like to have it done but nafta is still enforced and mexico is not line up new bearers to american imports i'm aware of or of any consequence so whether it

takes place in december or february is inconsequential in my mind but i want to see it get done. i wanted to be hung out by the election. stuart: why is the stock market not reacting more positively to this? >> i think the stock market has been riveted by too much news. there's the impeachment and i think they view the china trade thing as a much more consequential when it is not. the tariffs don't mean a lot and are not affecting the u.s. economy all that much. remember all those cries of woe from wall street economists of the emplacement that was going to happen. out christmas shopping this year do you find yourself not being able to get a widescreen tv for virtually nothing as compared to five years ago? made. there are other sources to get the stuff. the economists should be renamed the chicken little society. [laughter] stuart: okay. that's a pretty good out queue there. peter, thank you indy for joining us on a very important day. we do appreciate it. my thanks to dr barton sitting

next to me throughout all of this. your help was terrific. thank you indeed, sir. present on hold a rally in hershey, pennsylvania and it is tonight. he won pennsylvania in 2016 and will he use the impeachment news to his advantage tonight? pennsylvania congressman joins us at the 11:00 o'clock hour to assess that. elizabeth warren going after fellow democrats mayor pete for his prior work with the consulting firm. seems like if you achieve financial success in america you've got to deal with the wrath of the far left. i don't get it. that will be the focus of my take in the next hour but first - speaker pelosi, richard and neil are about to make that usmc a announcement. you will hear it and you will watch it live. more varney straightahead for you. as soon as the homeowners arrive, we'll inform them that liberty mutual customizes home insurance, so they'll only pay for what they need.

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make an announcement on usmca, that is the new nafta. let me take you back to last hour the democrats announced two impeachment charges. one, the abuse of power by the president, and two, obstruction of congress. it had no effect on the stock market. there is in fact some new optimism on china trade, the possibility of a delay in new tariffs going into effect on sunday. closed deadline looks like there might be a delay. here is the headline on usmca. mexico's president, he says representatives from canada and america will arrive in mexico today to sign usmca trade deal, edward lawrence is with us, do you have anything more on this, edward? reporter: yeah, i do, stu in fact the mexican president saying there was an agreement between the three countries again on this changed usmca, he did say that there's going to be a signing in mexico city. this is something that we

reported yesterday on your show, both i can confirm u.s. trade representative robert lighthizer is there as well as the department prime minister of canada, and she's also there for that announcement so that leads us to today, right here and house speaker nancy pelosi will come out and make her announcement about usmca and what's changed. i can tell you that our blake burman talked with a senior white house official not too long ago who said that they believe not much has changed with usmca, there is some tweeks to enforcement but they believe the basic deal is still intact with that. we're awaiting to see what house speaker nancy pelosi has to say about all of this. there is changes to the enforcement within this deal going forward but again, that announcement coming any minute now, stu. stuart: edward i've just heard that mr. neil, who is ways and means committee chair in the house has said that there will be a vote on the floor of the house next week. edward i know you're in the room waiting for that press conference to start.

>> i am. stuart: keep us up to speed edward okay? >> i will. stuart: i want to bring scott, this all sounds like usmca is going forward. it's going to happen this year. it'll be voted on very soon. why is the stock market not reacting more positively? >> [laughter] we're already up an all-time record high, i mean, what else can you expect? we had some great news last friday. the markets still kind of getting over that so we can't have it again be rainbows and ponies every single day, and this is absolutely great news, but its been news that's been sitting there for a while and sitting on her desk for a while so having it come through isn't going to shock the market or surprise the market. it's going to underpin the market. stuart: but the news on usmca and this possible delay in the tariffs with china, it's completely overshadowed impeachment, i mean, the impeachment articles were announced what, 50 minutes ago and they are already forgotten and we're moving on to trade usmca, i mean, it's a fast-

moving marketplace isn't it >> yeah, they are going to come out of this looking worse than they went in and number two, i'm asking a question i don't know the answer to but why is she suddenly coming out with this now just after announcing the articles of impeachment? stuart: i'll tell you why, scott >> all right stuart: i think i know why. i've got an opinion at least and that is speaker pelosi wants to tell the world that she can do two things at once. you can impeach the president and try to throw him out of office but you can also agree with mexico and canada on a new trade deal. she doesn't want to be charged with a do nothing house of representatives, you as speaker have achieved nothing. >> that probably makes great sense if i was her i'd start with walking and chewing gum at the same time and move on to bigger and better things so you're probably right but at the end of the day the market is forgotten about impeachment and it's not a big deal. this is going to underpin the market and good news to help underpin the market but not something the market would go up on because it's not a surprise. stuart: i just think the market

still wants to go up. it just wants to go up. do you get that feeling too? >> yeah, and again this is one of those three things we've talked about. we get over the tit we're having with china, which i'll be in china next week and number two, if we get something done on brexit those are the things that help underpin the market, like we had last friday and last friday was a sea change, stuart. that was a fantastic day, and that's going to be the thing that helps take this market higher because what's going to get in the way of it? stuart: may i ask why you're going to china next week? >> well i'm going to give a talk on trading and structured products and try to help educate them on how we do things here in the states so maybe i can push something over the line and get something done with china as well that way. stuart: we think of you as the cow guy. are you going to sell some beef in china? >> i don't think so. i'd have to turn myself into the pig guy and i have been a pig before at a few restaurants by the way but i'm sticking to the beef. stuart: all good stuff. let me review the situation on

the markets for you as we await the announcement on usmca from speaker pelosi. i do want to add something here. we're going to get the announcement of a deal, usmca, new nafta, got it. mr. neil who chairs the house ways and means committee, is quoted, i'm not exactly sure where but he's quoted as saying there will be a vote on the floor of the house next week on usmca. reuters is reporting that okay? so we do have a source on it. so, you're going to get the announcement of the deal momentarily from speaker pelosi and get a vote on it on the house floor next week. it's a done deal. it will be a yes on the vote next week, and i think a very speedy vote in the senate which also we'll say yes. of course now president trump, he's already tweeted i think twice this morning on usmca. can we put those up and see how positive he's feeling about this because we are moving towards this trade deal. it's really going to happen. here is the first one. america is great. usmca trade bill looking good.

it'll be the best and most important trade deal ever made by the usa. good for everybody, farmers, manufactures, energy, unions, tremendous support importantly we will finally and our country worst trade deal nafta. i think that i read that incorrectly, my oops. the next one, looking like very good democrat support for usmca, that would be great for our country. let me explain that one. there are 31 democrats, house democrats, who were elected into office in 2018 in trump-lean leaning districts. if they were to not get usmca through, they would suffer big time at the polls next year. that's why speaker pelosi wants to push this thing through, get a vote on it, so she can turn around and say to those 31 democrats, we got it done. you can go back to your electorate and you are just fine and dandy, you will be re-elected. i think that's what's going on here. >> there's been a lot of

questions about that. why give president trump a win heading into 2020 and by the way this is one of the most progressive trade packs ever negotiated rewriting a trillion dollar trade pack across north america, so it's interesting that the politics have played into this and it looks like it is a win for president trump heading into the votes. stuart: speaker pelosi approaching the podium. i saw her handing out some notes to members of the press there. about 100 democrats will say yes to this usmca deal. that's from our own blake burman quoting sources within congress. a hundred democrats are saying yes. here is speaker pelosi, we believe, about to announce the facts that there is a usmca deal , canada, mexico, the united states, and the vote will be on the house floor next week. speaker? >> good morning, everyone. this is a day we've all been working to and working for on the path to yes.

we were in range for a while, but until we could cross a certain threshold of enforcement , for our worker's rights, for the environment and for the prescription drug issue, as you know, they were three of the areas that we had put out there. i want to thank our chairman, richie neil, chairman of the ways and means committee, the eight members of the task force, and i will acknowledge momentarily by thanking them for their leadership in negotiating on different segments of the legislation. i also want to thank the president of the aflcio. he was persistent, knowledgeable , he really got us to a place which is a far distance from where we started with the proposal that was given to us. there is no question, of course that this agreement is much

better than nafta. but in terms of our work here, it is intimately better than what was initially proposed by the administration, and i credit our chairman richie neil for helping us navigate all of these places. the unity of our caucus on specific priorities, in order to get the job done, and again, the knowledge of richard as to the ramifications of every provision that was in the legislation. we'll be handing out a memo from the ways and means committee which explains why we are so proud of the distance that we have come from where we started with the administration on this legislation. it's a victory for america's workers. it's one that we take great pride in advancing. members of the task force,

congresswoman rosa delora, who have a markup in her committee of worker's rights, and appropriations, you'll be hear ing from, mike thompson of california, terry sewel of alabama, jimmy gomez of california, you'll be hearing from as well, and among others, john larson, of connecticut, earl blumenour of oregon, one, two, three, four, five, six, and now it's my honor to yield to richie. he was indeed a maestro to make all of this happen and with great respect and admiration for his work and gratitude that i yield to the chairman of the ways and means committee. >> thanks, madam speaker. >> [applause] >> thank you. >> every once in a great while you get to participate in a it

will never happen moment. >> [laughter] >> and we are witnessing that today. the other value of technology i will point out was after a round of intense finishing conversations and negotiations over the weekend that started on saturday morning with the speaker, myself, and the trade rep, robert lighthizer, we went back and speaker was, he was on a hunting expedition, we spoke with him frequently but the speaker -- stuart: a most interesting beginning there to the usmca press conference from speaker pelosi. essentially, she was taking credit for this new deal, where as in fact it was president trump who ran on and pushed through the renegotiation of nafta. you go back three years back to 2015-2016, as you moved up towards the presidential election, nafta was the old usmca. that was a target of president trump.

he said repeatedly, we're going to fix this and it was a deal for america a long long time, we're going to fix it. well three years on, speaker pelosi announces that she's going to take the credit for the new deal, along with richard tru mpka, and richard neil and the house ways and means committee, who deserves the credit really? >> you know, thank god most of the american people won't watch what she just had to say because if you listen it sounds like she built a rocket and put a man on mars and she took all the credit is exactly what i was thinking and you're exactly right. it was trump's idea so if she wants to take credit for putting the sprinkles on the cupcake let her but it's a deal that's donald we can move on. stuart: she is reassuring those 31 democrats from districts that lean towards trump in 2016, and voted for the democrats in 2018. she's reassuring them that we can get something done, even though we're trying to push the president out of office. that's what's going on i think. >> she's just trying to take

credit for taking the garbage out. i mean, that's not the deal, so yeah, she's maybe thinking she's going to give those 31 congressmen some comfort but at the end of the day this is something people thought should have been done two years ago, a year ago. so she's still going to be in the hot seat with those 31 other s over this impeachment garbage, so this isn't going to change anything. everybody has already forgotten about impeachment and she's in trouble. i don't see any way out of this except for throw up the white flag and say we should just stop now it's not going anywhere. stuart: what have you got susan? >> i think there's a lot to like for democrats in this new rewrite for the usmca because it's a floor of $16 and basically, you have to have 45% of the content has to be made by workers earning at least $16. that's something that the democrats have pushed for more environmental controls as well and by the way this new agreement requires at least 70% of the car makers steel and aluminum to be bought in north america so think about the jobs and the production increase in

the u.s.. stuart: and our sources in washington are saying that 100 democrats will say yes to this because as you point out, there's a lot of good things for the democrats in terms of labor, but now look at just happened. the dow industrials just turned positive. i'm not sure whether this is the usmca announcement. if it was it took a rather long time to move to the upside, normally these things happen in a moment as soon as you find out there's a trade deal the market booms just like that, or sells off, if there's no trade deal. this time it took a little bit of time, and i am saying that this turnaround on the market is the result of the usmca announcement, which is going to happen. a hundred democrats will vote for it, mexico's president says it's going to be signed today by his representatives in mexico, plus canadians and americans all down there in mexico city for the signing of it, this is a done deal, and the market has

turned around. scott, one more time, please. have we also forgotten about the delay, the possible delay in china trade tariffs? we've forgotten about impeachment that was an hour ago have we forgotten about the delay in china tariffs too? >> no, i think probably, the delay in china tariffs is more of a reason for the market turning around than anything else and maybe lesson in sarcasm the market is just happy that nancy pelosi did such a great job with usmca that we finally got it over the line, so ultimately, it's the china deal is the big one. i know we trade more with say canada and mexico, but with what we got going on with the markets as far as the tariffs that's a really big deal for the market and once we get through that i think this thing is underpinned and we have the chance to go higher. stuart: here is a positive indicator that we're getting from usmca, a positive indicator for the economy, going forward. susan, we've got the 10 year treasury yield what? >> yes, hitting session highs

along with a 30 year yield as well and that means that there's less risk on the market, and people are very positive with the trade news they're hearing from usmca and possible repeal of china tariffs. stuart: earlier this morning the 10 year treasury yielded 181-182 now it's 184, and again as susan says that means there is less risk in putting your money into the stock market because the economy appears to be strong, so the yield on the treasury goes up as money comes out of treasuries. it's complicated, but you know, you can use the 10 year treasury yield as an economic indicator and scott, am i right in doing that right now? 10 year treasury yield and economic indicator of strength down the road as the yield goes up. >> yeah, you're right. and if it wasn't for having really no inflation comes through in that report we had last friday you might see that 10 year even higher than it is today but as that 10 year yield rises that loosens up the system and gives those banks a chance to make money and it does put

strength into the economy rather than seeing or making it run to 170 or 160 and that's when all those yellow warning lights go on and all those folks start to talk about the yield curve in version, so yeah, that's good. that market goes a little bit higher but we don't want it too high but as it goes a little bit higher that gives folks comfort that the economy is indeed as strong as it was last friday. stuart: well we do have a turn around. i want to concentrate on a couple of stocks here i'm quoting them from my phone. i've got apple at 268 up $1.40 as we speak, i've got microsoft moving just a little bit higher, 151.46. i've got tesla actually moving higher to the tune of $6. ashley: anything you've got susan? >> look the democrats are trying to talk about these negotiations and getting usmca signed and they said that mexico and canada virtually conceded on nearly every change that the democrats had in this and some of the changes they're looking for in this rewrite, the small

rewrite of usmca to get it across the line, was to help successfully litigate labor environments and other disputes as well amongst the three countries, mexico canada and the u.s.. stuart: fascinating the lady who is speaking now, jan jonkowski she's just said that the democrats, her party, took over "a deeply flawed nafta deal from the president." i can hear you laughing, scott, but that's what jan says that she, the democrats, inherited a deeply-flawed deal. i don't know where that comes from. any idea, scott? >> how about this? it just sounds like nadler in impeachment 2.0. you can't believe what's coming out of their mouths and you can't believe they actually believe it. you have to suspend all common sense to really believe what comes out of their mouth so this is not a surprise at all and actually reading from the script stuart: what do you have, susan? >> well nancy pelosi says the

revised usmca deal is infinitely better. better than what it was apparently. stuart: well talk it up by all means that's what politicians do i'm not surprised at that in the slightest. we don't have that much of a market reaction, down 4 on the dow, up what, a fraction on the s&p, up about 15 on the nasdac. big tech is doing pretty well this morning, especially apple. i've got alibaba moving well above $200 a share that's related to the china trade deal i suspect, and when i say china trade deal don't get me wrong that is talk of a delay in the tariffs supposed to go into effect on sunday. may be delayed, that's a positive for china trade, up goes alibaba $3 higher now for 2.02. >> we're talking about the different gears that house speaker nancy pelosi seems to have and 9:00 a.m. talking about the articles of impeachment, and at 10 a.m. announcing the usmca deal, and it looks like some of the announcements here are

coming from the white house is that the white house spokesperson says that president trump will address the false impeachment charges in the senate trial and he does expect a full exoneration. stuart: i bet he says something tonight because he's holding a keep america great general it and it's in hershey, pennsylvania tonight, it's going to be a big rally and i have no doubt the president will have choice words about impeachment. you know, we've already almost forgotten it, at least investors seem to have forgotten it. >> i have an idea. stuart: go ahead, scott. >> i have an idea, right? how about this. why don't we just thank god nancy pelosi did this usmca, why don't we just put her on a plane and send her to china with me and have her sort out the china tariff problem we're having she can take credit for that as well stuart: is there room on your jet for the speaker? >> not if i'm on it that's the problem. >> [laughter] stuart: okay. scott hold on for a second, i've got more input on the market here.

gerri willis at the new york stock exchange what do you got for me, gerri? gerri: i'll tell you all this pelosi stuff nobody is paying attention to that right now. it's all about trade. we're watching all of those trade headlines today. listening to what people are saying we have the wall street journal story that possibly, the december 15 deadline was not solid, that those tariffs might be extended, but maybe not. we're starting to hear other voices saying there's a lot of patience out there, wilbur ross telling maria this morning we want a good deal, not just any deal so there's a lot of sitting and watching headlines to see what's going to be real because guess what at the end of the day what this market is trading on is trade. back to you. stuart: now we're going to keep monitoring what's going on, left-hand side of your screen. it's a series of democrats really patting themselves on the back for the great usmca deal which they say they have negotiated which they've rescued from the errors of the trump adminitration. be that as it may, that's what they're talking about and we're

going to leave them to it, but the big board right now shows a modest fractional gain actually, 2 points higher right there, and the s&p and the nasdac also on the upside. now, something else is going on today. it's a huge news day, and here is the other event that's going to take place later on. president trump meets russia's foreign minister, and that's at the white house later on today. and that's interesting. what on earth is going on there? mark simonsky is with us former defense department official. what are you expecting from this meeting? why is it taking place, any idea , mark? >> yeah so the russian foreign minister is almost sneaking in the back door of the white house , there's so much news on the same day as impeachment and as of course the announcement of usmca, and the u.s. and russia have been quietly talking about the employee tension of the new star treaty which is set to expire in february of 2021 so the president even surprised some of his staff and noted to putin recently that he was interested in potentially extending the agreement so i

think what the foreign minister is here is to take the bearings of the president, his interest in doing it, and this is an agreement that has had criticism within his administration, and so in many ways i think the president is looking for a win on u.s. russian relations and looking to showcase to the electorate that he can move forward with the relationship which is something he's been trying to do. stuart: i'm sorry but this has got nothing to do with impeachment. nothing to do with russia, russia, russia. nothing to do with deep state or anything else. this is all about arms control. that's it? >> primarily about arms control i think also, it's timed directly the day after putin met with the ukraine president, the french president, and the german prime minister in paris, for the normandy talk so they are discussing the future of the conflict in ukraine so i think l avrov is going to give the president a readout and also try to gain concessions in the united states of limiting u.s. support for ukraine which i think is unfortunate. i think the u.s. needs to show critical support to ukraine as

it faces an attempt to try and get peace with the russians but the foreign minister will try to get the bearings of the u.s. president about how far he's willing to go because he's gotten a sense from the u.s. president he's not interested in supporting ukraine stuart: but it could be initial signs of a trump win vis-a-vis relations with russia. >> i think both sides are looking for something they can point to, yes and a new start is likely the lowest fruit on the tree they can pull-down and showcase an improvement in u.s. russia relations in 2020. stuart: i'm sure you also follow the british general election that comes up this week. right now, boris johnson is favored to win. he's got a 10-point lead over the labor party there. would that be a trump win do you think? >> you know, i think johnson obviously is campaigning on the potential that things can get better for the uk if they can just get past brexit and he's the man to do it and of course the sunshine on the horizon is a potential u.s. trade deal with the uk and that's what president trump has been hinting at to boris johnson is that he will be

willing to make some key concessions to the uk, under boris johnson's leadership, that would make their life easier with the u.s. /uk trade deal but again as we've seen with usmca, and china, this administration is a very difficult negotiator and the uk needs to be, i think, circumstance um secretary with what they can get from this administration because in the end, the uk is critical in how it deals with the eu, and their brexit negotiations. stuart: last one, mark. you know a week ago i think it was a week ago, we had world leaders sitting around laughing at our president. it didn't go down very well. fast forward to now and it looks like our president is strutting across the world stage doing deals maybe with russia, certainly doing deals with mexico and canada, negotiating with china, looking at nato, forcing them to pay more money. i'd say the president is now emerging as a foreign policy winner. what say you? >> you know, this is what the president is trying to showcase that he can continue to advance

u.s. diplomacy in spied an impeachment. i do think that it is a very in opportune time to meet with the russian foreign minister particularly with impeachment going on. there's real questions about whether this agreement advances u.s. interests and unless the president defends our interests in ukraine and supports ukraine, i think he's going to be showcased to potentially vulnerable saying he's pandering to russia giving putin what he wants which is an extension of a new start so the president has to be careful that a deal with the russians isn't simply what the russians want. stuart: we're on it mark, thank you very much for joining us sir we appreciate it. and wrap it up for you. we've got the articles of impeachment filed, two of them. we've got the stock market turning around, heading higher, largely on the strength of reports that were made delay the imposition of tariffs on china trade and we also got the usmca trade deal, looks like it is going to happen with a vote next week. how about that? big news day, more to come after this.

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stuart: markets up not much but it's up, dow 31 points higher, s&p up let me see 5 points and the nasdac nice gain there, one- third of 1% on the upside. president trump heads to hershey , pennsylvania tonight. he won that state back in 2016 i guess he wants to win it again in 2020. hillary vaughn is there for us. hillary i'm pretty sure he's going to talk about the strong economy in pennsylvania, right? reporter: that and also the impact of tariffs here, stuart. pennsylvania has the most food processing plants than anywhere in the country, 2,300 of them and they are also the leading producer of canned fruit, vegetables, potato chips and chocolate so hersheys chocolate is also based here, but pennsylvania has felt the cost

of steel and aluminum tariffs especially as part of packaging. all of that food, from all cans to the foil, on a hersheys kiss, but also many plants exporting their food products, to china and elsewhere, have felt the impact of retaliatory tariffs targeting their goods. pennsylvania's top three markets , canada, mexico, and china, all three have trade agreements in limbo right now. we talked with todd coffman of caesar foods, a food distribution company that have been opened here since 1901 he tells me that u.s. tariffs on imported products have increased their prices, but also has help ed drive demand to american- made domestics. >> where we're at in the chinas a distributer is we've got supply products at a competitive price and the right quality, so with the tariffs sometimes it effects whether we go the domestic product versus an imported product of the same quality but what we've seen overall is not a huge price

increase. there's always alternatives to other food products but i think tom were to agree that we've always had domestic and imports that you can make your choice and decide who you want to go with as a consumer. reporter: we talked with three business owners so far this morning and they alltel us well tariffs have had an impact on in dust industries in pennsylvania like business but local business is still booming. people in pennsylvania have seen per capita income up nearly 6,000 dollars under president trump so they have more money to spend, but even small businesses here are also feeling the impact of some tariffs. i talked to a bike shop owner and his family has had the business since 1969 and they import a lot of their bikes from china, and so they've seen a rise in cost from that so they've been sourcing from other countries which has slowed their supply but he says so far, customers have not complained about the price hike. stuart? stuart: got it. thank you very much indeed, hillary, i'm sure the press will have some choice words about impeachment tonight as well not

just tariffs and trade in the economy. he's bound to say something about that. hillary thank you very much. check that big board. we did turn around and maybe a delay in the imposition of tariffs on china. that turned the market higher, the dow is now just 16-17 points , 27, 925. now this. while democrats expected to apologize for success, especially success in business. i guess it's the current fashion to shame people. we've had the nerve to make something of themselves, you know, display some drive and ambition. mayor pete is the latest target. he worked for three years for mckenzie a powerful and respected business consulting firm. mckenzie tries to make companies more efficient and profitable, oh, the horror a democratic candidate for the presidency actually help helped capitolists dear lord, senator warren calls

him wall street pete and is demanding the names of companies he worked with. she's clearly embarrassed by the revelation she made nearly $2 million helping big corporations when she was a harvard professor. socialists must never be associated with successful private enterprise. you see, i've seen this firsthand. growing up in socialistic england, capitalism was routinely condemned. the socialists would foam at the mouth blasting the terrible unfairness of success. they think capitalism is their exploitation so if you're climbing the ladder you're doing it on the backs of working people and you are a bad person. it's the same here today. socialistic bernie sanders rare ly cracks a smile. he is permanently outraged. mike bloomberg enters the race and because he's made a lot of money with the highest successful business, bernie is, as usual, outraged. it seems unamerican. what i always liked about this great country is its get up and

go, it's dynamism and the opportunity to get ahead. americans look up to success. we don't recent it. we encourage it or at least we did until the current crop of socialists arrived but that won't last. i simply can't believe that this country, will ever be led by angry politicians who think that we're wicked for doing well. well there's my opinion. but let's bring in cabot phillip s campus reform editor in chief. what do you say, young man? >> i couldn't agree more. stuart: good. >> so much of this is it's a misunderstanding of capitalism as a whole, stuart. i think a lot of this is viewed as a zero sum game where people have been convinced that you only get success by pushing people down and they view it as there's only so many pieces of that pie and someone else gets a bigger one it means they must directly be making someone else's piece of pie smaller i just have pie on my mind with the holiday season here but the misunderstanding is that with the economy doing so well for everyone it doesn't mean that we've gotten more wealthy and everyone else has gotten less

wealthy. no we all have this en credible economy and it's a misunderstanding of how wealth is created in the fact that if you ever become successful you didn't do it by pushing people down and you did it by providing service people liked and giving people a product that they liked and by hiring other people to help you do so giving other people jobs and spreading that wealth around and that's the real spreading of wealth not socialistic government spreading of wealth it's business people that are actually making money and spreading the wealth themselves. stuart: and it drags down the mood of your society. if you not allowed to be successful without being shamed at the same time that's a really negative view of the world isn't it? >> it is. stuart: it's just a toxic environment in which you live especially if you think you're one of those up and comers, you want to make your name in the world and if you're that person they will put you down. >> and it robs the country of its incentive to innovate. when young people are looking around and they see the fact

that successful people are demon ized and told oh, that person is evil because they are wealthy, does that give someone the drive to say i want to go out and create something, i want to go out and be successful, it robs them of that drive because they say, well if i make something that people like and i do get wealthy then i'm an evil person for that it's going to rob people of the incentive to go out and make something for themselves and innovate which has made our country so special in the first place. am i right? oh, there it is. stuart: [laughter] you got it. certainly i had breaking news, which is that one. breaking news on exxon. they've been found not guilty in that climate change case. what do you got, susan? >> well it was a three week trial basically what the new york state attorney general is trying to prove was that exxon deceived its investors by not accounting for the cost of future climate change rules, and to the tune of 1.6 billion or so and they say this is a securities fraud case where exxon has won this trial and it bodes well for exxon

going forward because there are other state and federal courts that wanted to do the same for the large oil as well but it's interesting that the stock is still down in this session, but i think that it is a big win for exxon in litigation. stuart: a big loss for the attorney general of the state of new york because that was an abuse of the office. >> yes. stuart: to try to take down an oil company on the grounds that they created climate change and their bad guys is pure nonsense that's my opinion. that is the abuse. >> and how do you account for all these global climate change rules anyway? to say that you defrauded 1.6 billion is a hard number to put to. stuart: why would anybody want to do business in new york city? i'd like to see a major corporation get sued by the attorney general of new york city or whatever and leave. take your money, take your people, and leave. >> that's happening. stuart: because this city doesn't deserve decent businesses to run here. that's just an opinion.

and a nativity scene in california getting real political it shows joseph and mary in cages. it's a direct hit at trump's immigration policy for heavens sake, we'll talk to jonathan morris about that in a moment plus robert deniro not nominated for his stars role in the irish men. i asked him was deniro surprised surely, he will get an award for that. we'll be back. >> ♪ ♪ there's a lot of talk about value out there. but at fidelity, value is more than just talk. we offer commission-free online u.s. stock and etf trades. and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value

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stuart: we're up 11 points, not exactly a huge rally but a couple of hours ago, before the market opened futures said we were going to be down about 130. we have reversed. look at netflix. needham, that's the investment firm, they downgraded the company and they say that there's going to be big

subscriber losses next year. any more on this, please, gerri willis at the exchange? gerri: that's right, stuart i've got the report here in my hand. they are saying there could be a loss of 6 million subscribers, 6.6 of the 60 million subscriber s, 4 million subscribers from netflix, why? they need a low cost alternative to compete with apple tv plus, disney plus, and they don't have it and this analyst, laura martin, is really well regarded on wall street says they will have to sell ads to make that happen and it's not in their dna and they said they will never do that hence the sell-off and the shares so the rating under performs that's really accelerating stuart back to you. stuart: i'll say my goodness losing what a few million subscribers that would be a hit indeed but no wonder the stock is down. thank you, gerri. church nativity scenes getting political in california. i think i'd use it more than that, but a church has joseph and mary inside cages, if you

can believe that. jonathan morris fox news contributor with me now i think it's disgusting and disgraceful and what say you? >> it's also just pathetic. the real story of jesus and mary coming on a donkey and finding no room in the inn, in our midst is so much more outrageous and wonderful and beautiful and unbelievable than this caged up mary and jesus. i love the real story and i think unfortunately this just turns people off. stuart: christianity is based on faith. faith that there was indeed a ma nger and no room for mary and joseph. that's what it's based on. it's based on faith. it's not a political doctrine where you try to bring immigration into it. >> i'd say yes and no. faith and jesus, but also on

facts, that there was a guy named joseph, there was a woman named mary, a baby named jesus who was born in a certain day in history, a certain time in history at least, and that type of getting rid of the facts to replace facts with our own political agenda, that's the problem here. stuart: do you think that the socialists got ahold of these churches and turned them political? >> i think it's political people who have lost sight of facts and faith, and have turned everything into a political agenda, and what that's doing to our society just in the last 20 years, we've had 20% decline in church attendance. if i'm going to that church and i find jesus and mary and joseph in a cage, because they're trying to make a political point about immigration as important as that is, i would say i don't need to come here. i can turn on cable news. stuart: real fast, you appeared in the irishmen.

yes. stuart: he did not get a golden globe award. i'm astonished because he's a trump hater, and he usually gets an award for hating trump what happened? >> yeah, i love the fact that deniro were willing to put other amazing actors next to him. joe pesci did get a nomination. stuart: jonathan morris. >> and deniro was willing to act beside them. stuart: good for him. i think that was a rather weak response. >> it's the truth. stuart: a weak response. we know where we're coming from. you're all right, jonathan thanks for joining us, thank you world series mvp, listen to this , and $245 million contract with the nationals, and that most likely will not be the richest deal in baseball, and where is all of the money coming from? brian kilmeade, next.

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stuart: on this impeachment and usmca day, we have turned south for the dow industrial but not by much down 5 points, 27, 900 couple of stocks in the news, look at apple to start with, that is moving up because we may

have a delay in the imposition of tariffs on sunday, with china , that's a positive for apple, amazon they've announced they are going to start stream ing soccer games, major soccer games from germany, that's a big deal in the stream ing business and comcast, the parent of nbc universal expected to spend $2 billion on content. brian kilmeade joins us now, i believe there he is, joins us now, and live on the radio. brian we're very glad to be with you. >> why is your panel laughing? stuart: it's susan. >> sorry brian. stuart: the panel is susan. >> hi, susan. >> hi, brian. >> i've got to talk to susan now. stuart: $245 million for the nationals, another free agent pitcher, garrett cole could top that getting 280 million. where is all of this money coming from in baseball? i thought baseball was in decline? >> well, it's definitely a challenge but they have so many

different ways of making money, they got the stream, everyone gets streaming revenue, getting more money for regionals and also more money for the national contracts. even though i believe this has become a regional sport, there's a lot of money in it, they've managed to maximize a lot of it but i will say this. they've done a pretty good job bringing the salary cap in which many people didn't predict so you get a penalty you're allowed to go over the cap, but you get a pelt people so it kind of brought wages down, so in fact last year there was so many players that didn't get offers they setup their own little minicamp and a lot of the guys took declining offers but they are so good and the yankees and nationals are so close to a world title, they're going to spend in this situation, one str asburg is 31 and cole is 29 and i think he's getting 300 million and there's a lot of pressure on the yankees to write the check. steinbrenner used to do it all the time and there's pressure to get over-the-top and you need co

le, they drafted him at 18. he decided to go to ucla, which shows you college doesn't pay and he goes and plays in college and gets a big contract. the yankees tried again and didn't get him and got beat by the houston astros and now they want him off that roster and put him on their team. stuart: vast amounts of money but i want to turn from a sport which i think has its problems, to another sport that's really coming on strong and you know about this. i'm talking about the champions league, soccer, out of europe. amazon is going to be streaming champions league games from germany. that is a huge deal for stream ing and for soccer, and for soccer watching in the united states. and you know it. >> for a guy that i was with about the only personal playing in this country in 1971 when i started playing i used to walk around and tell people i play soccer and they say what? then i played through college people started accepting it but they say it will never be big in this country. do you know what happened? the internet and when people had

a choice to go to the internet they were tapping in watching these games overseas watching college games and then the network started responding. now you watch it all over cable, and all over network television and the mls is the fastest growing league i think in the world and man is it getting respect, they are paying zillion s of dollars for a franchise about to launch one in cincinnati and it doesn't surprise me that amazon went for it and it's this property that has a couple things, you grew up with it but it brings in a global community with a diverse audience and no longer just former players just plain old sports fans are doing it and it's an exciting time and if you're an american advertiser and you want to get a hold of the hispanic community, the african american community i guess the whole melting pot community, you watch soccer because that's whose watching soccer. stuart: it's much broader than that. i've taken to going to a couple of bars in hoboken, new jersey and watching games on a saturday and sunday morning. games from europe. games from england.

english premier league soccer, and you have no idea how many people are watching this, enthusiastically, and the demographic is all over the place. all kinds of people are watching this saturday and sunday morning soccer from europe, and when amazon starts to scream it, you know that there's some serious money involved and off it goes from here. >> stuart my last point on that is do you say to your wife, honey i've got to do this for work and go to the bar and watch soccer, i'll have a segment on this later in the week and i didn't won't to use anecdotal evidence. i'd like to see it myself. stuart: what are you talking about? i have a grand old time at mulli gan's bar in hoboken new jersey watching man city and liverpool. it's a terrific experience. it really is. come join me. >> one-time we will talk soccer and we'll talk mls, then i will know we've arrived as a country, because every time you talk soccer you talk international,

we have a great professional league here, you've got a team in new jersey, another team playing at yankee stadium. stuart: i want the best soccer in the world and that's english premier league soccer. the germans aren't bad, and i'm going to stream that on amazon but the best soccer in the world , english premier league soccer. come and join me some day okay? >> well, listen i have my cell phone. i'm up early in the morning you've never called. one-time you could say on friday , i'm going tomorrow morning to watch soccer you want to come with me and stuart who by the way leaves the building in jeans, not a full suit i'd love to hang out with you, get a casual outfit you'd barely recognize me. stuart: the producers say hard break, got to go, kilmeade you're out of here. >> i would hear that too they are not saying that. stuart: i'll see you saturday morning. >> tell susan i said hi. stuart: in or next hour, we'll be joined by that man, shawn hunter who played the husband in

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vo: visit reputationdefender.com or call 1-877-866-8555. stuart: the democrats have drawn up the articles of impeachment. ooh, that sounds ominous. the left thinks they've finally got him. they think he's been so slimed, that he loses the election next year. they are wrong. in fact, the president is looking good. let's sum it up like this: first, impeachment. the charges are narrow, legalistic and, to most people, obscure. the republicans in the senate will not vote to end his presidency. in fact, they may turn the tables and embarrass democrats like adam schiff. after endless televised hearings, there is no groundswell among voters to throw him out. impeachment may turn out to be worse for democrats than for the president. you know, mr. trump is going to punch back hard, you know it.

tonight he holds another keep america great rally, it's in pennsylvania. that is a battleground state where the economy is doing very well, indeed. he will be the live action president battling the beltway. he'll beat up the impeachment brigade and tirelessly promote the prosperity that we all now enjoy. america didn't pay much attention to those mind-numbing impeachment hearings. cnn went wall to wall with their trump hating, but their ratings over the thanksgiving period hit a three-year low. the trump-hating media is losing. instead, americans are enjoying the most prosperous holidays in years. the latest gallup poll shows 55% rate the economy excellent or good, and 100 million of us directly benefit from the trump market rally. does anyone really believe that if a democrat won next year, the economy would keep growing? you can bet the president will hammer that home tonight. one last point in mr. trump's favor. the price of gas, it's cheap.

in 24 states the average price for a gallon of regular is less than $2.50. those 24 states represent 250 electoral college votes. he only needs 270 to win. america loves cheap gas. the democrats, in my opinion, have made a huge mistake, and they're going to pay a price. on this, the very day when impeachment charges are laid, the president's re-election chances look better and better. that's my opinion. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: all right. reaction to the editorial in a moment from hogan guidry, white house deputy press secretary, and the democrats just took credit for saving usmca. they called it a flawed deal until they got their hands on it. ing we'll see what he has to say

about that as well. right now let's bring in market watcher heather, why is the market not up more than it is now that we're going to get usmca? if usmca's so good, why isn't the market reacting more positively? >> well, it's up a lot from where we were this morning going into the open, the futures were down big. so i think you can take that into account. there was a 200-point swing before the market opened, and we're still waiting to get confirmation on whether or not these chinese trade tariffs will be imposed or not. that's also a moving event. stuart: yeah. they're talking about a delay in the imposition -- that's not certain, but it sounds positive. we're down 19 on the dow. i've got this thing from jpmorgan looking to 2020. they say the s&p could go up another 8% next year because of the strong the economy. that would be a very strong gain on top of what we've already had. do you share that optimism? >> absolutely. well, you know, i've been

consistently bullish on your show, varney, but i think, look, on the back of a 25% year increase in the s&p 500, if you see some profit taking in december, that's only natural. we're seeing equity mutual fund outflows this year, but that tells me that there's still room to run because bull markets die in euphoria. and despite the strong data, especially the jobs report, i'm just not seeing this euphoria. stuart: it's amazing, isn't it? still room to run 11 years into a bull market, the longest that i can ever remember. ing what an extraordinary situation. heather, thank you for joining us on a very is important day. always appreciated. thank you very much. let's get to peloton. the stock is down today. the ceo is responding to all this criticism that the ad, he's responding one more time. what's he saying? >> he said that was last week, we don't have to do much in order to be one of the great

consumer companies of the next couple of decades. so as you know, the ad was accused of being sexist and classic -- classist, rather. he also says fitness equipment has been a dopey category with dopey products, it's an albatross we are trying to shake as we build one of the most innovative companies of our day. the company went public in september, had some success but not yet profitable. stuart: i think it's a winner. to be perfectly honest, i think it's going to sell very well this christmas. >> the people who have it love it. more than a 90% usage rate. stuart: that's a big deal. >> that is a big deal. stuart: guess who is with us now? his name is sean hunter. he's the husband in that peloton ad. sir, welcome to -- it's good to see you on the show. >> yes, thanks for having me this morning. i really appreciate being in. stuart: sure. has that ad been good for you or bad for your career, which is it? >> that's a great question. it's been a little bit of both. it's been good for my career in the sense that i'm able to talk

about it with you guys and other interviewers, so that has been a really important piece. i'm happy to share my side of the story, of course. it's been a little bit bad in the sense i've been receiving some hurtful messages, and i just really don't appreciate it because when i watch the commercial, i just don't see it. i don't see the sexist allegations that people are talking about -- stuart: oh, sean, i agree with you 100%. i just don't -- >> thank you, yeah. stuart: -- see sexism at all. i see you as an actor hired to do a job -- >> yes. stuart: -- and you did the job extremely well. >> that's great. thank you. stuart: the lady in the commercial, she got a gin commercial. is there anything on your plate coming up? >> great. you know, i hope so. i do have an audition today, so fingers crossed for that one. stuart: are you a high school teacher? >> i'm an elementary schoolteacher, actually. right after now i'll be going to my school and teaching gym. that's what i do. stuart: what reaction in the school to you? [laughter] >> oh, my goodness, you know,

only -- i've had a lot of students watch it, a lot of parents, my principal, only positive things from them. it's quite amazing. the people who know me, my friends, family, acting coach, parents, people that know me say it's good. they say, sean, congratulations. it's a big deal when a vancouver actor gets a role, so it's really nice. i've felt the support and it's great. stuart: when you got paid for this commercial, was part of the pay a peloton of your own? [laughter] >> you know, i wish it was, but it wasn't unfortunately. stuart: are you going to get one? >> yeah, i would love to get one. i've joined spin classes before. it's a really great physical activity to do. i would have to put a few down payments now, it is a little expensive, but it would be great. stuart: and if you have ca significant other, i take it you would have no qualms about giving that significant other a peloton. >> absolutely not. it wasn't going to be a peloton, but kind of an exercise class, and we would be doing it

together. she loves physical activity. we do classes together. so we don't have a problem doing that at all. stuart: i just want to end it like this: i thought it was a terrific commercial. i noticed it right from the is start, and i think it's going to be very successful in making the peloton one of the better sellers this holiday season. congratulations, mr. sean hunter. >> i agree. thank you, i really appreciate that. stuart: good luck. sean hunter, everyone, the peloton man. >> thank you. stuart: all right. we'll be back with a lot more on that later in the week, i guess. next case, elizabeth warren. we now know that she made $2 million working as a lawyer, profiting from capitalism. now senator warren is going after mayor pete for doing the same thing, calling him wall street pete. we're all over the left's hypocrisy. and president trump headed to hershey, pennsylvania, for a keep america great rally tonight. pennsylvania congressman smucker is on the show. he says that state's economy is booming because of president

trump. the democrats, who have announced two articles of impeachment against the president, and they also this morning took credit for saving usmca. we'll get the white house's response to that. this is the third hour of "varney & company." ♪ let's be honest, quitting smoking is freaking hard. like quitting every monday hard. quitting feels so big. so, try making it smaller. and you'll be surprised at how easily starting small... ...can lead to something big. start stopping with nicorette

nice rock. it's time to drop gold. go digital. go grayscale. stuart: quick check of apple. the stock is up 269 this morning. the mac pro is now available to order. hefty price tag? >> $6,000. but what i will say is this is not really for your average home. i mean, this is people who work in the film industry, gaming industry, heavier data use. this is a professional machine. $6,000, and it is being made, manufactured, put together in austin, texas, 100%. you know that most of apple's supply chain or a significant

amount in the past has been put together in china. this is a page turn for the company, austin, texas. stuart: apple's stock doing very nicely today as well. thank you very much. let's go to capitol hill. believe it or not, the democrats just said they saved usmca. let me play you the clip. roll tape, please. >> but in terms of our work here, it is infinitely better than what was initially proposed by the administration. >> i repeatedly emphasize that usmca will deserve a vote because it's an agreement that democrats shaped. >> the trump administration sent us a deeply flawed trade deal. we now have a new and and improved, renegotiated nafta. stuart: okay. let's bring in hogan giddily, white house deputy pretty9 secretary. where did they come up with that one, and are you onboard with them saving usmca? >> no.

look, they're going to say a what they want to say, and they're going to try and shape the message and spin it. but the fact is the president worked on this deal, got it secured like eight months ago. this has been sitting around, languishing, waiting to move forward. it would immediately help our farmers and our ranchers and our manufacturers, our automakers. it was a wonderful trade deal, something brand new that we'd never seen before. and i'm glad that she finally decided to move forward ask and support it. i just saw on twitter that the afl-cio endorsed the plan as well. this is going to help everybody. when you watched the impeachment press conference, you saw people behind her who represented both coasts, california, new york. this press conference was decidedly different with representation across the country because this trade deal was so historic, it would are impacted all americans from sea to shining sea. not just those of the coastal elites. stuart: well, to you, it's a trump win, right in. >> yes. it's a trump win, sure, but it's a win for the american people.

look, this witch hunt, this impeachment hoax, it doesn't impact negatively donald trump, it impacts the american people negatively because the democrats who claim to want to work with the president on so many things like lowering prescription drug prices and also this usmca deal, they ignored it for months. here we are though, success for the american people moving into the christmas season, the holiday season. it's one of those big wins for this country. stuart: all right. now, the democrats -- i know you saw this, hogan -- earlier this morning they filed two articles of impeachment against the president. what's the white house's ponce? i know -- response? i know this was two hours ago. >> well, look, these are baseless charges. the whole thing is a hoax. they're moving forward with a predetermined outcome. they're kind of all over the place, nancy pelosi said they've been working on this for two and a half years. wait a minute, i thought this was about ukraine, about bribery? bribery's not one of the charges. i mean, how many times with are the media going to allow nancy

pelosi and the democrats to get away with lying about this president? they're moving forward with articles of impeachment before we released the transcript, then when they sent us a letter and said cooperate, before we responded they said we're going to move forward with articles of impeachment. they've voted for it many times without proof, without evidence. shouldn't be shocking, though, for nancy pelosi, as you know, who famously said let's pass obamacare, then we'll find out what's in it. she knows what the predetermined outcome is, she wants to impeach the president, they've been talking about before he was sworn into office, and looks like they're moving forward with it today. stuart: here's something that may look bad, the optics may not be acceptable. president trump meets russia's foreign is secretary lavrov at the white house this afternoon. now, we're told that this is about arms control. but it's going to look real bad. it's going to be russia, russia, russia, sergey lavrov. >> sure. stuart: he's going to get bad p.r. out of it, isn't he? >> i don't think so. these kinds of conversations are

critical to america's well-being. the president campaigned about having a better relationship with russia. so did the democrats, for that matter. it's incumbent upon any american president to try and build relationships across the globe. we're absolutely expected to talk about arms control but also elections security, for example, and national security, for example. and secretary of state mike pompeo's been to russia many times, has met with vladimir putin many times, and now we have the op sutt. his counterpart is in town, and the president's going to sit down with him and talk about several issues. stuart: it's a big day for you and us too. hogan givedly, thanks for joining us. with edward with lawrence is here. you have some headlines, is it from larry kudlow that might expect the market up and down? >> reporter: it is. this is something we've been consistent on here. white house economic adviser larry kudlow today saying that december 15th tariffs are still on the table. now, from the chinese

perspective, chinese sources have told us that the u.s. has already promised them the tariffs would be rolled back and not put on, on december 15th. but from the administration, from u.s. sources, my trade sources in the u.s. are saying that we need to see something from china more in order to say no on these tariffs going forward on december 15th. so the administration looking for some sort of gesture or something or even a phase one deal actually down on paper in order for them to go forward and announce that there's not going to be the tariffs going forward on december 15th. so as of right now kudlow's saying, yes, they are planning to have them in place coming up on sunday. stuart: oh, that's what did it. thanks for sorting that one out, young man. appreciate that. [laughter] eric. question for our audience, which city comes to mind if i say richest zip code in the united states? 90210? maybe that comes to your mind, but you're wrong. it's actually on the other side of the country. we'll tell you where it is, and we're actually going to show you

around too. golfer jack nicklaus, the great one, he barely ever parted with his famed rolex watch. he wore it for decades on the golf linkings. now that watch is up for auction, and it's going to fetch some really big bucks. we'll take you to the auction house next. ♪ most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready.

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cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: where is the wealthiest zip codn the united states of america? deirdre? >> fisher island, florida, 33109 in case you want to do a search. it's minutes from miami beach. you have to go by ferry. you can get a studio for a million dollars. the rest of the properties go up to, let's just say 30 million plus, heavy emphasis on the plus. stuart: beautiful place. i've been there. private eye hand -- >> yes, it is private. stuart: ferry to get over there. >> long history. actually just celebrating its 100 years. one of the vanderbilts built an's candidate there. if you been good, maybe santa will give you a voucher in your

stocking. stuart: doubtful. lauren simonetti, tell me about jack nicklaus' rolex, please. >> reporter: jack nicklaus will be here tonight. the his watch is already here. it's his gold watch. it is today's date that he received it at 27 years old. his first watch ever, believe it or not, and wearing this watch he won 12 of 18 golf championships. arnold palmer actually recommended to jack nicklaus that that's the rolex he got. he got it, it's now up for auction. it will be auctioned off tonight starting in the hundreds of thousands of dollars. this is not like art. you can actually touch these watches, stuart, and i'm very excited to touch this watch right here. this is a rolex. if you look carefully, it's actually missing the top ring. look at the engraving on the back. marlon brando. this was his watch that he wore for apocalypse now. the producers actually said, you

know, you shouldn't wear a rolex for this role, but he said, no, no, no, stuart. the viewers are watching my watch, i'm not doing my job as an actor. this watch is expected to fetch 1 million. but the arnold palmer watch which had set the record for the most expensive watch ever sold at auction two years ago, almost $18 million, it went from 1 million where this will start to 10 million instantaneously. so this could be the most expensive watch ever sold. if you love acting, if you love movies, if you just love watches, really exciting stuff. stuart: i would suggest that the jack nicklaus watch could sell for even more. i think that could be an $18 million item, but i don't know watches very well. we should ask charles payne, he's the watch man. >> reporter: do you think i could leave with this on? stuart, no out of bounds. [laughter] lauren, see you soon. next, we're going to talk about elizabeth warren.

we know her medicare for all plan is going to cost us all bigtime, but our next guest found a sweet deal for left-leaning states like new york and new jersey but a raw deal for red states. i'll let justin haskins explain it all after this. ♪ ♪

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♪ ♪ stuart: dead flat market at this moment. we're actually, what, up a point. there you go. more headlines from larry kudlow, speaking right now at a "wall street journal" event. he said they're working on tax cuts 2.0, getting ideas from lawmakers. he wouldn't be specific, but he said there would be a strong emphasis on a middle class tax cut. however, this wouldn't happen until well into 2020. actually, after the election, frankly. it would be part of the second term agenda, presumably. that's what he's saying. talk about long-term tax cuts. no real reaction on the market. it's up just 6 points. jpmorgan, very bullish on the s&p in 2020. brian nick, chief investment

strategist, is with me now. morgan says we're going up 8% on the s&p in 2020. that's a very bold and bullish forecast. do you share it? >> not quite 8%. we think we could eke out a couple of percentage points with earnings growth around 5, that's a pretty good gauge. remember, we're coming off a year when the market's up 25 without really any earnings growth to speak of in the united states. maybe 2 or 3% is how we end the year. so the market has gotten more expensive, investors pricing in more optimism perhaps about 2020. the more optimism the pricing is today, the higher price you're paying for those stocks going forward. stuart: it is extraordinary, isn't it? we're 11 years into a bull market, the longest that i can remember, one of the longest on record, and you guys are still saying up some more in 2020. what's the real driving force? behind the upside move next year? is it the strength of the economy? is it profits? what is it? >> it has to be down to profits and corporate earnings, because what we saw this year was that, you know, you can get sort of a

melt-up in stock prices, stocks becoming more expensive, sort of a one-shot deal. without a lot of good news next year that validates that optimism, we think stocks could be potentially vulnerable. we don't think there's as much tough sledding ahead for the economy as we saw this year with a slowdown from a 3% to 2% world. we think we stay in that 2 percent -- 2% world. taking a bit more risk in your portfolio next year compared to this year, we think, will continue to reward people. stuart: is the possibility, do the china trade tariffs on sunday, they could be rolled back, they could be delayed, they could be further 'em posed. is that -- imposed. is that the big, dark cloud hanging over the stock market in. >> it is. we put out a relatively optimistic outlook for 2020, but the one thing that can get in the way of the investors and the economy next year continues to be trade. even if these sunday tariffs are delayed to some other point

certain, that continues to exacerbate the uncertainty. businesses plan around these tariffs, consumers get wary, we see confidence levels drop, and eventually that can start to erode away. stuart: if the tariffs continue into next year, that would be cause for a selloff? on the market? >> i think potentially a selloff because you're associating that with lower growth, and the fact that we have so many businesses who are selling overseas, and it looks like there's some reason to be optimistic about revenues from places like china, germany next year potentially those economies somewhat on the upswing. we could see negative revisions to profits, to gdp and probably not fantastic returns on stocks. stuart: if it looked like a democrat, whomsoever, whichever democrat was to win the 2020 election, would that be a problem for the stock market? >> so we spent more time on this topic than any other when we had our investment committee meeting. stuart: i'll bet. >> let's bring in experts on energy, technology, financial

services and most importantly, i think, health care, how is it impacting their ability to analyze the sector x. to a person they just said there's too many what ifs, too many hurdles, who's the nominee going to be, what do the courts do for some of these potentially new pieces of legislation, and we just don't think it's worth overweighting that consideration in the portfolio right now. potentially could create some volatility down the road, but right now to sort of guess, oh, it's going to be this outcome with this policy, probably steering your portfolio potentially the wrong direction. stuart: mike bloomberg wouldn't worry you as president? [laughter] i mean, he's a wall street guy. i mean, he's not going to mess up the economy or the stock market, is he? >> i think a national poll shows him at 5%, so when he becomes more of a front-running candidate, i think the market starts to take into consideration. stuart: you don't want to be seen as one side or the other, do you? [laughter] >> we're investing for whatever the outcome's going to be. stuart: okay.

that's good. brian, thanks so much for joining us. there is a trend among 2020 democrats, apologizing for success. elizabeth warren, she made $2 million as a lawyer while she was a professor at harvard helping big corporations. now mayor pete is going to have to release his dealings with mckenzie where he worked as a business consultant. you're just not allowed to be successful in business if you're a democrat candidate for president. justin haskins is here, editorial director at the heartland institute. that's true, isn't it? you're just not allowed to be successful in business if you want to be the president of the united states as a democrat. that's extraordinary. >> yeah, it really is extraordinary. but, i mean, really when you think about it, when you look at the policy proposals, all of the tax increases, the government takeovers that the democrats have been proposing for the past few months, i mean, is any of this really surprising at this point in time? democrats do not reward people for being successful, they punish people for being successful, and they do it under

the guise of fairness even though there's nothing fair about our current tax system as it's currently structured. stuart: tell me about elizabeth warren's medicare for all plan. i believe you say it's got some side effects like positive news for new york and california, not so good news for just about everybody else. tell us about it, please. >> yeah. so this is one of the most interesting parts of her proposal. it's something that's not getting a lot of attention, but it should. essentially, what she wants to do is to help fund her medicare for all plan. she would have businesses pay whatever they're paying right now for their employees to the federal government in the form of a new tax. well, that crypts a problem because -- creates a problem because in some states businesses pay a lot more for health insurance than they pay in other states, especially in blue states. they pay a lot more than in many red states. over time she's going to make all businesses across the country pay basically the same tax. well, that means that businesses in red states, especially -- or

really any state that has relatively low health insurance costs right now compared to higher cost states, they're going to end up paying significantly, significantly more in those states where costs are low right now and in states like new york and in massachusetts, places that are very favorable to elizabeth warren, by the way, they're going to end up seeing their costs go down significantly. so i think this is a massive crony deal that favors big companies in business -- in states that are favorable to elizabeth warren. [laughter] stuart: crony deal, i like that. i'm going to steal that right off you, son. gonna do it. [laughter] do you know anything about elizabeth warren's blue new deal? it's just come across, i've got some headlines from it. expand protected marine areas, phase out some existing drilling projects, electrify ports to reduce pollution. do you have any idea how much this is going to cost? >> i have absolutely no idea how

much it's going to cost. [laughter] i don't think anybody has any idea how much any of this stuff is actually going to cost. but i think it's just political posturing because elizabeth warren is one of the biggest supporters of the green new deal, of course. and the green new deal eliminates all fossil fuels, your gasoline-powered car, your coal-fired power plants, your natural gas plant, all of that stuff goes away overnight, basically, in the green new deal. so i don't know why we need all of these other things in the blue new deal, the deal with co2 emissions when they're supposedly going to disappear under the green new deal. i think this is a plan to help win over the really far left of the party, and that's the only way she's going to win the nomination at this point. stuart: it's another plan to wreck the economy. >> yes. stuart: there's no way. i haven't talked to a single responsible economist, and there are a few around, who believes that massive trillion dollar tax increases and multi-trillion dollar spending plans would, in

fact, do anything to the economy other than kill it. nobody believes it's going to produce any more growth. am i right? >> yeah, you're exactly right. if the green new deal becomes law or anything remotely close to it, it is going to completely decimate the american economy. i mean, millions and millions of jobs will be lost, tens of trillions of dollars in additional debt where we're already running trillion dollar deficits. it would be catastrophic. and i just can't imagine that voters, especially in places like in the midwest and places like michigan and minnesota and places like that, i just can't imagine that this is what they're looking for, that this is what they want. stuart: neither can i. justin haskins, thanks for joining us, sir. see you again real soon. thank you. >> thanks, stuart. stuart: president trump leaves tonight, later on to her hi, pennsylvania. another rally coming up. big battleground state, pennsylvania. next, congressman lloyd she canner joins me -- smucker joins me. i want to know if the booming

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stuart: reportedly selling its stake ine dog-walking app, wasn't that part of wework? >> it is not part of wework, but softbank has invested in both companies, so this is yet another black eye. they have had a really rough go. by the way, one of their other bigger, more modern investments is uber which, as we know, is widely used but not yet profitable. so softbank is basically giving up its 50% stake. this is a great little app. i have a dog, i use it. you press, you get a walker, the person comes, they've been screened. however, the ceo left last month if, they've had to lay off a lot of people. the company estimated last year to be worth about $650 million,

but right now they are only saying they have let a lot of staff go. bottom line as a business, this is another problem for softbank. stuart: yeah, a big problem. another -- >> their track record these past few months -- stuart: not good. got that right. president trump heads to pennsylvania tonight. let's bring in congressman lloyd smucker. congressman, welcome to the program. great to see you today. pennsylvania's a farm state. your district is a farm state. i think i'm right on saying that. i'm sure the president's going to be pounding the table tonight on usmca, because that's real good for farmers, right? >> pennsylvania is very happy to have the president in hershey, pennsylvania, tonight. folks -- there's been extraordinary interest in this event. folks have been lining up, they've been there all day today. there will be thousands of people at this rally. and you're right, what is not to like about this president's policies? the usmca is a big win for the people of pennsylvania, for the people of my district. dairy farmers in particular.

my district is a large dairy farm district. they've been hurting for a long period of time. they've been struggling. this agreement will open new markets in canada, mexico. it's going to be great for american farmers, it's going to be great for american manufacturers. stuart: now, the president won the state of pennsylvania in 2016. has the state done well economically, more jobs, etc., etc., since the election of president trump? from then to now, are you doing better? >> the difference is remarkable, stuart. lowest unemployment rate in pennsylvania's history, and it's affecting all -- everyone in the economy. lowest unemployment rate for african-americans, lowest unemployment rate for rah latinos. this is -- latinos. this is a great economy. wages rising, thousands and thousands of new jobs created in pennsylvania. so what is not to like about that's policies. it's why the people of pennsylvania continue to support

this president, they're happy to have him here tonight, and i think he's going to win big here in the next election. stuart: well, the president is not that popular with some suburbanites in some cities around pennsylvania. can he get them back, because that's a big problem for him. >> you know, a lot of people have talked about that, southeast pennsylvania. my county is lancaster and york county just outside of that band of counties around philadelphia. we did, as republicans, lose some of those counties for the first time in the last election. however, there were seven counties throughout pennsylvania, southwest and southern -- lucerne county one of them -- that for the first time switched to republican. so you are seeing the president's numbers improve in many areas of the state. that's why i said i think he's going to do very well. stuart: will impeachment fly in pennsylvania? how do pennsylvanians think about it? >> people in pennsylvania are upset. i go throughout my district

talking to people throughout the district, and they are very unhappy that democrats are simply not allowing the president to continue to deliver on the promises that he's made to the american people. there's a lot that we should and could be doing. for instance, we can do higher ed reauthorization, we can fix prescription drug prices, we can fix surprise billing. there's so much that we could be doing if members of congress willing to come and work together for the american people. stuart: will you be on the stage tonight with the president? >> i will be traveling with the president. i will be right there with the president. i don't know if i'll be on the stage -- [laughter] but, obviously, a lot of people from my district will be there as well. i'll be very, very happy to see him, it's going to be a great night in pennsylvania. stuart: you going to fill the stadium or wherever, fill the venue, people waiting outside? >> it's been a large -- it's at the giants center in hershey, i am sure it will be filled and overflowing.

stuart: congressman, thank you so much for joining us. you've got a busy day on your hands. talk to you soon. >> thanks for having me. stuart: sure thing. exxon, the stock actually is down. exxon was just found not guilty of fraud. new york's attorney general accused them of misleading investors on the true cost of climate change. this was an attempt to go after an oil company because of climate change. it failed. even so, the stock is not up, it's actually down 50 cents. look at boeing. a former manager there will testify to congress he was the one who said warning signs were ignored, okay? boeing's down a little. the max jet, boeing said they have received 30 orders for that plane. they got 30 orders in november from unidentified customers. not helping the stock. morgan stanley, they're cutting 1500 jobs from their global work force. that stock is barely reacting, up 26 cents, 49.87. next one, nike. they're drumming up some

controversy. this time they've got a new baseball uniform? looks fine to me. we'll tell you what the internet is angry about now. something or other. we'll be back. ♪ what i love most about being a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. we are solving problems that improve lives. i wanted more from my copd medicine that's why i've got the power of 1, 2, 3 medicines with trelegy. the only fda-approved once-daily 3-in-1 copd treatment. ♪ trelegy ♪ the power of 1,2,3 ♪ trelegy ♪ 1,2,3 ♪ trelegy man: with trelegy and the power of 1, 2, 3, i'm breathing better. trelegy works three ways to open airways, keep them open and reduce inflammation,

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stuart: the interview of the day, the peloton husband. from that sexist ad. here's what he had to say about that ad on our show earlier today. roll it. >> it's been a little bit bad in the sense i've been receiving some hurtful messages, and i just really don't appreciate it because when i watch the commercial, i just don't see it. i don't see these sexist allegations. stuart: i agree with him. i thought it was a terrific ad. >> yeah. and i actually think it's funnier that they recast his partner in that ad in a gin commercial which just made fun of the whole thing. stuart: i think it'll be a big seller this christmas -- >> poem who have them -- people who have them love them. stuart: retention rate's excellent. nike, they've released new baseball uniforms for next season. some fans, i guess the internet, hot happy -- >> look at the d in dodgers there, right above the m in

miami, you have that nike swoosh. so you do have people freaking out saying that this crushes the classic look of the uniforms. i've heard from some yankee fans -- stuart: well, the yankees got that up there too. it's the first time -- >> for baseball, yes. for baseball. so so it's very upsetting to the people who are purists, if you like. but i want to mention, you know, nike scooped under armour, they were supposed to have this contract, but they backed out because they said it was going to cost them something like $50 million that they don't have right now. that company's on the ropes. so among the sporting goods companies, there's a story here as well. by the way, nike has partnerships with the mlb now, nfl, nba, so this is a win for nike and shareholders. stuart: here comes the swoosh. >> there you go. stuart: amazon will be streaming champions league soccer games from germany. this is the champions league. this is the top league of clubs in the world. amazon -- >> yeah, this is huge. stuart: -- from germany.

to me, this is all about the beginning of streaming of live sporting events from round the world. >> it sure is. tech is officially on media's turf. so you have amazon in this case getting these soccer games -- sorry, stuart, football games -- from germany for the fans. but, you know, amazon also had tennis, it bought the rights for, bought the rights for u.s. national football league. we know that google's youtube has some. all of tech is indicating for the -- competing for the turf that used to be owned 100% by media. huge change. stuart: pretty soon you're going to be able to watch any sporting event from anywhere in the world wherever you are streamed -- >> and a lot more cheaply than if you had purchased a sports package in the past. stuart: absolutely. here it comes. and amazon's right in the middle of it, of course. there will be more "varney" after this. ♪ ♪

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stuart: in terms of news it has been anup an -- an extremely active news day, 9:00 o'clock eastern time, within a couple of minutes we had nancy pelosi speaker pelosi on the podium with chairman nadler announcing 2 articles of impeachment. that was history being made right there. a president of the united states impeached for only the third time in our history, happened right after 9:00 o'clock, no impact on the stock market whatsoever. then this, then move onto 10:00 o'clock eastern time and speaker pelosi came out with the 6 chairs of the various committees and she announced

usmca, they have a deal, this is the new nafta, they've got a deal, the president of méxico said that we are going to sign it today with representatives of canada and the united states and mr. neil, house ways and means committee said it's going to be vote of the house next week, so you have impeachment, no impact on the market, usmca done deal and vote next week, no impact on the market, then we had larry kudlow, he's the president's chief economic adviser and addressing wall street journal conference and he's talking about first of all, tax cuts 2.0, you thought that would have been good news for the market and it would be if we do get more tax cuts but they wouldn't be until the second trump term that was the caveat on tax cuts. mr. kudlow was also talking about china tariffs, he said that those tariffs which are due to be imposed on sunday are still on the table. that contradicts an earlier

report that there may be delay in the tariffs that sent the market down. that's where we are now. dow jones average is down 7 points, it's being up and down all day, no major rally and no major loss thus far, neil cavuto, it's yours. neil: you missed the biggest story and biggest chat. i thought he had a great sense of humor. he was the signature interview of the week, the month, i tell you, very funny stuff. stuart: are you serious? neil: i loved it. that gets to the core in the silliness of our society. stuart: well said. neil: that doesn't mean i'm getting a peleton bike unless i can hang laundry on it. we are looking out of the things that stuart just outlined, long way from dotting the i's and