maria: that will do it for us. great show, you guys. have a great day. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. the bulls are still running. add one more big name investment company that sees a strong economy, and a strong market next year. piper jaffrey now joined jpmorgan, goldman sachs, bank of america and others with a bullish view of 2020. even the economists who worried about a recession in the summer, they have changed their tune. here's one more bullish item. president trump and boris johnson have talked, they both want a big trade deal next year. add that to the china deal and the reworked nafta and you've got progress on trade all round. now, all of the major averages

closed at record highs yesterday, all of them. the dow shot past the 10,000 point milestone, yeah, that's how much it's up since election day 2016. this morning, we are going to go a little bit higher, maybe. looks like it. the dow up a fraction, four points, maybe. two points up for the s&p. nasdaq up nine. if that's the way it works out, those are three more record highs for each of those indicators. boeing, however, is taking another hit. it is halting temporarily production of the max jet. that's the most important plane maker in the world, and the max is its most important plane. the stock is now negative for the year, down to $323 as we speak. we've got a big show. just wait until you see the reception that congressman schiff received in beverly hills. the coastal elites gave mr. impeachment an earful. "varney & company" is about to begin.

whoa! whoa! >> you are a disgrace to the house of representatives. liar. liar. stuart: you believe that? ladies and gentlemen, that was in los angeles. that i believe was actually in beverly hills. can you believe that? in beverly hills? >> you had some fans from california in last week. i told you there were more of them out there that were fans of yours. apparently there's a lot of them. stuart: wonder if they were at that meeting. there's a lot of stuff going on like that. as you saw, there was an eruption over impeachment but despite the turmoil in washington, we've got to talk about the market because it keeps on going up. here's the latest. investment firm piper jaffrey joining the chorus of bulls on the street. the firm sees more double digit gains for stocks next year.

mike murphy is here. look, we haven't had anybody on the show who says watch out, there's a big sell-off coming. almost everyone said we are going up from here. what about you? >> i don't know, there's been a lot of negativity out there throughout the year. now it's getting a little easier as we see the china trade deal coming into place, but i think i have been pounding the bullish drum for most of this year and i'm going to stick with it for next year. the reason is the united states economy. we get the trade deal in place, we have the election coming up so there's that wild card out there, but overall, what you want to look at is strong u.s. economy, you want to be long u.s. stocks. stuart: it wasn't that long ago when the media and some pundits were talking up a recession. ashley: the beginning of the year. stuart: totally wrong. ashley: to mike's point, it's not only hated in the last year, it's been the most hated bull run in the last ten years but despite that it continues to move higher and higher. stuart: it was hated by the left because they don't want to see a

prosperous country and economy going into the election. isn't that right? susan: obviously and after last december when you saw a decline of 18%, people were a little scared heading into the year. >> remember, there's a ton of cash on the sidelines, where people who have been waiting for this recession have gone to cash, that haven't been believers in this rally we have had. as we get to the end of the year and the beginning of next year, you are going to see some of that cash coming off the sidelines and that's where you will see a lot of people talking about a melt-up. when money comes into the market, more money in means prices go higher. the companies that are performing will go higher. stuart: what a contrast. impeachment and a bull run. don't you love it. okay. take a look at boeing. i think that's the corporate story of the day, if not the year. this is going to be a drag on the dow all over again. they have temporarily halted max jet production next month. gerri willis at the exchange, come in, please. i think that stock is now below where it was at the start of the year. gerri: i don't have that number.

i have a different number. i've got it up year to date by 1.3%. so my numbers from thompson show the stock has actually performed better, but if you look at the numbers since the crash, the lion air crash, the first crash back in october 2018, stock down 2.5%. look at the eathiopian crash, down 18%. but i have to tell you, the fact the stock is up year to date speaks volumes about the market and about the company. one analyst today has a buy rating on boeing, saying what's going on here, the suspension of the production actually will force regulators to help get this airplane back in the air. think about it. this company has taken a 4.9 million charge to earnings, 346 people are dead, yet for the year the stock is up. suppliers that are down today on this news, southwest, even delta which doesn't have 737 max jets, and of course, ge, which

supplies engines. interesting story. my question today, boeing, too big to fail for regulatorregula? interesting. stuart: yes, it is. what a situation. boeing at $327. mike murphy, surely this is going to put pressure on the ceo to step down, isn't it? >> it may, but stuart, the stock has come down to these levels several times this year. we have talked about it on the air here, where for anyone at home, if there's anyone trading, so short term, down around this $325 range, the stock has bounced off several times and gone back up to the $350, $360, even $370 range. boeing is not going away. i think it's a great opportunity. we may look to buy some of the stock. if they hold at these levels, i will buy boeing. stuart: if there's something wrong with the plane as opposed to just the software, if it's a hardware problem on that plane, all bets are off, surely, because that is the ruin of a plane of which they made 400 of them already. that's the ruin of that plane. >> it is, but here's the way it works. it's a hit to the company now. it's a write-off to the company

now. but next year, i guarantee you people will be ordering boeing planes. maybe not 737. boeing will be supplying planes globally next year, the year after and the year after that. so if you are looking at whether or not you should buy boeing, it's a story about what will the earnings picture look like once this story gets behind them. stuart: it's not your kind of stock but would you buy it? >> typically not, but yes, we have made money in boeing buying it in the 320 range and selling it higher. yes. stuart: next case. president trump and britain's prime minister johnson, boris, talking trade. what's the latest on this? ashley: well, listen, even before the election that saw boris sweep in, there has been this talk and now that it's official that boris johnson has got at least five years at ten downing street, the president saying it's going to be a great thing for the united states, of course because it's going to mean lots of trade, a tremendous amount of trade, since the president. they want to do business with us so badly. under the european union it was very hard for them to do business. this is good. also, larry kudlow, chief

economic adviser, yesterday saying guess what, we are going to be heading to the uk next month, early next month, to begin the process of talking about what kind of big trade deal they can do. kind of laying the groundwork, if you like. it's great for the uk. stuart: positive all round. ashley: for everybody. stuart: good stuff. thanks, ash. how about this. here's a story we have been following all the time. that is apple, record territory. look at it now, $279. cowan and company raised its target price to $325. that's where they think it's going to go. gene munster on this program suggested it would go to $350. is everybody else joining the party? what do you think? >> i think the stock has performed so well, the knock on apple, there are still a lot of haters who tell you they don't innovate but they are doing such a great job with their new airpods, with the new iphone, so i think the stock will go higher. one other thing, the saudi aramco company that just went public, up close to $2 billion

valuation, that just shows people like roger bannister, when he broke the four-minute mile, it is possible for a public company to trade up around $2 billion and apple will catch them. stuart: $2 trillion, by the way. >> thank you. stuart: where did that come from? >> just threw it out there. stuart: from the distant past. 1953. beat the four-minute mile. ashley: in baggy white shorts. stuart: yes. >> once they saw it was doable. that's the point i was trying to make. stuart: i don't want to digress but he was the last great amateur. last great one. all right. move on. let's move on to microsoft. why don't we. also in record territory. i think the close yesterday was around 155. i do own a thin sliver. you are looking at premarket, going up a bit more, $155.77. overall, the market looks like it's going to eke a little more gain at the opening bell this morning. all three indicators showing modest gains at the opening bell.

amazon blocking some sellers from using fed ex to deliver shipments to prime members. why are they doing that? we will tell you. we have details. a new study says the main ingredient in magic mushrooms could help treat depression and anxiety. how does that work? dr. marc siegel will explain. on your screens, the video we showed you earlier of adam schiff being shouted down by fed-up voters at the town hall in beverly hills, california. liar, liar, treason, they were shouting. they don't want impeachment. more "varney" after this. peyton, what are we doing here? brad, welcome to peytonville. what's this for? song inspiration. i started in my garage, but nationwide protects so much i had to expand. nationwide helps protect everything you see in here, brad. every family, every business, every dream. see mrs. hoffman? nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. oh, they have backstories.

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to people as promised. they are telling third party shippers you cannot use fed ex ground to ship prime packages because they are worried about the reliability and the packages getting there on time. stuart: they are saying fed ex, you're not doing the job, you're not delivering on time. is that what they're saying? jackie: that is what they're saying. they are saying temporarily we are telling people they can't use you. they can buy shipping options. they can upgrade their shipping and get better shipping but we're not going to say it's going to be there for christmas using ground if we know it's not. stuart: amazon is emerging as the deliverer. jackie: they want to be a shipper, right. so you connect the dots. stuart: black eye for fed ex, though. jackie: yeah. stuart: i wouldn't want to hear that if i was running fed ex. jackie: i wouldn't, either. they are saying oh, it's only a small amount of shippers. actually, third party shippers represent more than 50% of amazon's merchandise. that doesn't necessarily account for prime, but you know, how small. stuart: fed ex is down 1%. that's a hit. jackie, thank you. peter thiel, billionaire investor guy, has been

consulting with facebook's chief zuckerberg. i think he's been telling him to stand firm against the politics and the government, right? susan: when it comes to political ads on the platform. peter thiel, some of these views are shared by former and current executives that advise mark zuckerberg that the company shouldn't be in the position of deciding what claims are accurate. now, that goes against a lot of employees who say that this actually undermines our year and a half campaign to basically get rid of misinformation on the platform, after the cambridge analytica scandal. now, what i found really interesting about this "wall street journal" report because it is a "wsj" quoted source, there are concerns about palantir, the other silicon valley company peter thiel owns and whether they helped cambridge analytica obtain some of the facebook data that they used. stuart: basically i'm totally lost. susan: are you? stuart: yes. susan: i thought i was pretty clear on that. what are you lost by? the fact they want to ban political ads? the fact palantir may be helping

cambridge analytica get access to facebook data? which part? stuart: what's palantir? susan: palantir is a silicon valley tech firm that helps i guess for security and dissects data bases. >> peter thiel is a big investor. susan: it's worth around $35 billion. stuart: industrial production is up 1.1%. that's just in. that may account for the market turning around a little. is that right, producer? a little bit. all right, all right. okay. i will never cross you again, susan. i will never say i don't understand and that's a fact. right. look at futures, please. we turned around everywhere. all three indicators suggest a very modest gain at the opening bell, but those will be three new all-time record highs right at the opening bell. let's get into the chicken rivalry. popeyes taking a dig at chick-fil-a. they are posting job ads for chicken sandwich professionals who can work sundays. the one day of the week when chick-fil-a is closed. we have the story. it's very important, these

chicken wars. ashley: apparently so. stuart: we'll be back. ♪ may your holidays glow bright and all your dreams take flight. lease the c 300 sedan

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>> boo! boo! boo! >> you are a disgrace to the house of representatives. liar! liar! stuart: i think we need commentary on this. let's bring in fox news contributor jason chaffetz joining us this morning. we should say -- >> good morning. stuart: -- that those wavering democrats we understand are probably going to say yes on impeachment. out there in the trenches impeachment is not that popular, is it? >> no. it's not. that's why they are rushing it through. adam schiff sat there for three years, told us from his perch at the intel committee that he could see things that the rest of us couldn't. remember when the democrats put out their report under adam schiff, devin nunes and the republicans put out a report but now we have the light of day, we also have the horowitz report and we can tell which one was telling the truth and which one wasn't. and it ends up that adam schiff

was preaching a bunch of lies and overstating his case, saying that there were facts that there really weren't and now, you know, he's going to pay the price and i think a whole lot of others are as well. stuart: if you just put the polls on one side and put the politicians on one side, and you ask the question do we the people want to remove president trump from office before the next election, i think the answer is no. what about you? >> i agree. if you ask a democrat very quickly, hurry, tell me exactly what did donald trump do that was in violation, that rises to such level that you are going to implement essentially the political death penalty by trying to have him removed from office, why is it that you are going to undo our vote and my vote in putting donald trump into office, what is it that he did, they can't come up with a good solid consistent answer across the board because it's not there. stuart: as things stand now, do you know of any republican in

the house or the senate who will say yes, impeach him? >> i don't see a single one on the republican side in the house or senate, and it was just march of this year that nancy pelosi said the standard for a successful impeachment is to have a clear bipartisan support, and they didn't even get a single one. we are just talking about a handful of democrats that might come over. it's a partisan play, it's a political play, and it's an abuse of power by the house democrats. stuart: thank you very much indeed for being with us this morning. always appreciate it, sir. come again. >> thank you. stuart: yes, sir. thanks. we've got a big problem brewing here. emanuel macron in france, huge protests all over again, transportation at a halt, the schools are closed. this is all about pensions? ashley: all about pensions. look, there are 42 different pension plans in france that cover civil servants, all of them with delivering retirement ages and benefits. what macron wants to do is take all those 42 and have a

universal system. the biggest problem is he wants to raise the legal retirement age which is now 62, he said let's raise it to 64 but if you do retire before 64, you are going to get reduced benefits. these people, civil servants, massive thousands across the country saying no, you're not going to touch it. this is very similar to 1995, same situation, and the conservative government of france at the time backed down. that's what these people are hoping will happen, that macron will back down. the prime minister just made a statement, we are carrying on, forget it. we are going to reform this pension system once and for all. as you say, no planes, trains, automobiles. it's a mess. stuart: trouble on the left bank. goldman sachs is spending money to help fight climate change. what are they doing, susan? susan: they are basically putting together $750 billion by the year 2030. that means loans, underwriting, advisory services, investments as well, and they are basically

instituting a formal ban on financing of drilling and coal activities. that does include drilling in the arctic as you mentioned, first u.s. bank to do that. this is because they trying to change their minimumaimage, tryo toward main street rather than wall street since we know wall street has been shrinking and they are trying to fight an image problem, especially going back to 2008, what happened with the global financial crisis. stuart: okay. i will move on. susan: why do i always get these stories? stuart: we are just picking on you. look at futures, please. we are still on the upside but only just. the dow is up maybe 2, s&p 2, nasdaq 9. we will take you to wall street after this. this holiday season, give her the gift that says,

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stuart: as we have been telling you, stocks are in record territory. quite a few big name wall street firms are bullish going into next year. mike murphy is still with us. my question now is, you are on board with this. you think the market's going up some more. is there a dark cloud that could derail the whole thing? >> i think the biggest dark cloud out there, stuart, would either be the fed which seems like it's kind of been pushed aside for awhile, then you have to look at the global picture, the macro economic picture.

is there something out there, something negative from china, something negative coming from europe, some sort of a default out there which would hurt the market. that concern is always there. you have no guarantees with investing. that's always there. the biggest concern i would have for people watching at home is if everyone gets too bullish, then you have to be careful. stuart: i'm with you on that one. all right. the market has now opened. let's see how it's going. down 14 on the dow in the very very early going. i'm waiting for all the dow 30 stocks to open. something wrong with that board there but i will tell you the dow opening ever so slightly lower. where is the s&p this morning? the s&p right now, we've got it? ashley: up slightly. stuart: there you go. s&p is up three points. the nasdaq composite, where's that? have we got it? let's see. the nasdaq composite is up 16 points. oh, looks like tech's doing okay. we are going to show you boeing again. they have halted production of the max jet. the can sto is dostock is down

bucks, down to $320 in the early going. amazon blocking third party sellers from using fed ex. amazon up, fed ex down. apple, record territory recently. where is it this morning? $279. i think that's just about a record high. how about microsoft? i've got a thin sliver of that. $155.29, it's down 20 odd cents. back to amazon. blocking third party sellers from using fed ex. let's talk about amazon here. they are brilliant at execution and they are really saying let us deliver stuff, we are better at it than you guys. >> they are. and they are going in and they do it for less money. i think the concern for amazon is that investors, you know, how many different things are they going to do and are they going to be able to execute and make money, turn a profit, in the new businesses that they are going into. nobody wants to go head up with amazon, because amazon is so powerful and like walmart in years past, they will undercut the competition in order to gain

market share. stuart: they are also so good. their execution is absolutely terrific. absolutely outstanding. susan: they are basically saying fed ex is not holding up their part of the bargain, meaning delayed shipments, they aren't getting the shipments there on time and that is not part of prime services. don't forget, we have amazon already delivering over half of the packages that are booked and sold on the website and they plan to overtake ups and fed ex just in the next few years according to morgan stanley. stuart: quite a company. all right. check the big board. we are two minutes into the trading session. we are down four points. go nowhere thus far this morning. johnson & johnson upgraded by morgan stanley, they raised the price target to $170 a share. that's where they think jnj is going. roku, i think it's down this morning. their cfo has stepped down. the market didn't like that very much. they are down 2% on roku. that's been one terrific performer. it is the streaming stock and it's done very well this past

year. tesla's stock, near record territory. upbeat analyst comments regarding the company's factory in china. down a bit this morning, but right around $380 on tesla. tyson reportedly received the okay to sell its poultry products in china. not much reaction to that. 70 cents higher. wall street bullish on nike after -- i think i've got this right -- air jordan 11 bred, that's a shoe i believe. susan: yes. >> i have air jordans on today. here's the thing. michael jordan retired for the last time almost 17 years ago. nike is such a great company because they keep re-inventing the shoes for the new generation, and kids want to buy them. they are doing great, hitting on all cylinders and at an all-time high. stuart: you've got that look on your face. susan: murphy is trying to teach you to be cool. >> he's the epitome of cool right here. stuart: you can't be cool at my age. right. we report -- a new report, the congressional budget deal could

eliminate some of those obamacare health taxes. the stock is dow component united health is down because of that. wouldn't it be nice if some of those obamacare taxes repealed? let's see how far that goes. the ten-year treasury yield, that's an indicator, where is it? 1.87. that is a positive indicator. because that yield is higher than it was yesterday. oil, is it still at 60 bucks a barrel? i will do gold first. $1481 on gold. creeping back towards $1500. oil is still at $60 a barrel. the drillers, the frackers, will be very pleased about that. i've got another number from netflix. 90% of its subscriber growth comes from overseas. what's the significance of that? susan: netflix is trying to change the narrative because they are looking at losing subscribers here in the u.s. in the previous quarter for the first time in a decade they did that. they are trying to say look at the bright spot, we are growing overseas and they have been spending a lot since 2017 to do

that. emea, europe, middle east and africa, is their largest region outside of the u.s., 47.5 million subscribers. latin america has around 29 million, doubling during that period and asia has around 14 million. if you have that many global subscribers, 60 million in the u.s., slowing, though, and a lot of competition coming online, apple tv, disney, hbo max, you might as well say look overseas, look how well we are doing, first mover advantage. stuart: do you invest in any of these streaming companies? >> disney is the best one right now, has the most content but netflix is doing a great job by twisting the narrative to where the positive is. but i don't know if they will be able to keep getting the pricing and keep getting the growth when they are going up against these other companies. at some point i think you will see consolidation here. stuart: it's a saturated marketplace, with all these entrants getting into the business, all of a sudden it's saturated. >> great time for people who are on television, making television

shows, because they can command higher salaries. susan: very good point. but two years ago we were saying there's only one player which is netflix. everyone was scrambling to invest, to get on board. you have disney now with three streaming services alone. is it really saturated when just 24 months ago, it wasn't enough? stuart: well, there's a lot of competition, put it like that. i just wonder how many of these services is the average homeowner going to get? susan: they say three. analysts predict three on average. >> or they bundle the whole thing and we are back to having cable. stuart: you know. here we go. you know what's coming? ashley: the chicken. stuart: popeyes taking a shot at chick-fil-a. they want to employ chicken sandwich professionals who work on sundays, because of course, chick-fil-a doesn't work on sunday. ashley: it's tongue in cheek. they took out a bunch of ads

across the country in the "new york times," "new york post," "boston globe" and "miami herald," saying popular chicken sandwich restaurant looking for team members. requirements, available on sundays. must have experience, by the way, preparing chicken sandwiches. of course, chick-fil-a has steadfastly remained closed on sundays. it's been that way since they launched back in 1946. but the chicken sandwich wars, to your point, definitely, definitely hot. no doubt about it. mcdonald's franchisees imploring the company to bring chicken sandwiches on to the menu. stuart: yes. sorry, i'm -- murphy is gesticulating at me vigorously. ashley: he was telling you to steal second. stuart: all of a sudden we are up 50 points. any input on that? susan: the s&p now hit a new record high. record close yesterday, you are adding to it today. as i mentioned to you, it looks like the decks have been cleared.

usmca looks to be approved on thursday and a phase one, brexit might be a question but no one is reacting to it. stuart: they are talking about a u.s./uk trade deal. very big deal, i think. do i want to go back to the chicken -- ashley: no. we covered it. stuart: no, we don't want to do that. okay. murphy, we will kick you out because it's 9:38. time's up. >> always a pleasure. stuart: you okay with that? get out of here with your jordans. thank you very much, by the way. thank you for being with us. check the big board. we are up 40 right now, at 28,275. that i believe is an all-time high. pretty close. president trump holding a rally in michigan tomorrow night. this as democrat congresswoman from that state was shouted down for backing his impeachment at a town hall yesterday. can the president and the republicans capitalize? presumably they can. the michigan gop chair will join us later. the president getting a rousing reception at the army/navy baseball -- not baseball, football game, of course, last weekend.

pete hegseth, he's an army guy, i will put it to him. the military loves their commander in chief and showed it on saturday. we are two weeks away from the closing of the decade. is there a product out there that's dominated the entire decade? i put forward the apple iphone. i think that's the product of the decade. we will discuss it next. look, this isn't my first rodeo... and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other.

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look at uber, look at lyft. they threatened to pull out of the sky harbor airport in phoenix and susan, you will tell us why. susan: because they have to pay congestion pricing. $4 for each ride to and from the airport starting next year. that fee increases by a quarter each year. that means $5 by 2024. that's extra for those trying to get to their flights. the reason they are doing this is because of congestion, because phoenix back in 2016, ride sharing represented about 9% of the traffic in and out of the airport, now it represents 70% of the traffic. stuart: they are not going to do it? lyft and uber will not take rides to sky harbor? susan: right. stuart: what happens, 70% of rides that use uber and lyft, what are they going to do? susan: you have to take a taxi. there are such things these days. or you probably have to take a shuttle or maybe even public transportation. stuart: what a mess. ah, here we go. president trump just tweeted

this. i will read it for you. the stock market hit another record high yesterday. number 133 in less than three years. as your all-time favorite president and the radical left do nothing democrats want to impeach me. don't worry, i've done nothing wrong. actually, they have. there's a trumpian tweet to get you going this morning. market's up across the board. let's get back to apple, back to microsoft. both of them riding high recently. let's bring in tech watcher ray wong, the man who likes all technology all the time. ain't that right, ray? >> i love it. i love big tech. stuart: yes, you do. kudos to you. you have been right. you have been with us for a couple of years. you have always said big tech's the place to be and it's going to keep on going up. okay. deal with apple. just hit an all-time high, $280.92. where is it going? >> it's going to go to $300, $320. part of the reason, they are doing really well, iphone replacements on the 11 super-solid. they are getting high replacement rate and in china,

too, which is what people weren't expecting. they are doing really well with the watch but it will be the services piece. that's really where the money is. stuart: why? because that just rolls in the money on a regular basis as you go forward? that's it? >> because the subscription revenue, right now you might pay for an iphone $20, $30 a month, tack on apple arcade, apple tv, soon we might see $40, $50, even $100 a month from users. twhaps th that's what they will grow out to. plus all the other things they are doing around data. you trust apple because you are not being sold ads and you are paying a subscription, you are billi willing to give them more data and they can deliver more services. stuart: okay. turn to microsoft. it's at $155. where is it going? >> $170. part of it is really because of azure. they are doing really well, getting a lot of market share. they are seen as switzerland for cios but people aren't watching the hardware side. they have a lot of hardware rolling out in 2020 from the surface pros, new stuff on the

xbox line that's coming up for a refresh and that will kick in later in the year. stuart: is the xbox a big deal for microsoft? does it really help them? >> it is. it's something that's a big part of their gaming experience, big part of their developers and people use it for not just gaming purposes. we are seeing everything from mixed reality come together. stuart: let me summarize here. $300 to $325 on apple, $170 on microsoft. you have been bullish on these stocks for at least two years that i know of. when will you withdraw your support? when will you say time to sell? >> when the regulation comes in really hard either from the eu or from the ftc on antitrust, when people start to realize these are monopolies. amazon, facebook, google, these are monopolies around data and how that data is being used. when that kicks in, probably two to three years out from now, that's when -- stuart: that's a long way in the future. >> but facebook is facing it right now. facebook is getting in the antitrust pieces, people are coming for them and the

antitrust requests that are coming from amazon and google, those will get more interesting and congress tries to understand what these businesses are. stuart: do you ever think that the regulators or the tax people, whomsoever will force the big tech to change their business model? >> i don't know. because what we are doing is competing against china. on ai. and their big companies, baidu, alibaba and tencent, are intact, we need the same amount of scale. stuart: $300 on apple, $170 on microsoft. thanks for joining us. see you soon. wait a minute. i'm sorry. there's more. you can't leave yet. our producers just broke my eardrum with this. the iphone, is it the product of the decade? >> it is definitely the product of the decade. i wrote a book called "disrupting digital business." it destroyed 27 business models. it's the phone. where do you get your camcorder? it's right there. 27 business models. 50,000 products disrupted,

almost ten million jobs, and then all the creation around the apps. this is the one thing, basically billion dollar companies created on the iphone over the last ten years. that is one of the most incredible devices, one of the biggest disruptions for a company that was just making computers. stuart: okay, i'm sold. i'm sold. i'm glad i got it in. didn't realize you had written a book. thank you very much indeed. move on. dallas fed, the president thereof, robert kaplan, just spoke. he sees little reason to change interest rates in 2020. that's kind of good news. susan: it is. it's a big deal because he's a voting member starting in 2020 on the federal reserve. he just made these comments and it might be helping boost the markets today. so he says i pretty much, i don't have any change penciled in for next year and he's been supporting lowering interest rates. he's forecasting 2% growth for gdp next year and he says that the jobless rate will stay very close to current levels which is very good since we are looking at the best unemployment rates

in 50 years. stuart: that's right. 3.5% is very low. thank you. the democrat debate this coming thursday was in jeopardy over a labor dispute, but it's going ahead as planned. ashley: finally, there's a deal between the unionized food service workers and their subcontractor. don't forget the original democratic debate was scheduled to be at ucla but the candidates balked because there's a labor dispute there as well so they are at the loyola marymount university and apparently this dispute has been resolved so the democratic debate will go ahead as scheduled. stuart: this thursday. it can't be next thursday because that would be boxing day. ashley: no. boxing day. stuart: check the dow 30. i think we have that graphic to work now. yes, we do. a little more than half of the dow 30 are on the upside. they are in the green. overall, the dow is up 25 points. illegal immigrants in new york state lining up to get their driver's licenses because it is now legal for them to do that. in new jersey, cheers,

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stuart: dow is up 14 points. change that. dow is up 13 points. a fraction of 1%. we are at 28,250.

got it. on your screens, we are going to show you lines of people wrapped around dmvs across new york state. why are they doing that? because it is now okay for illegal immigrants to get a driver's license. in new jersey, very same thing. cheers, celebrations going o jersey lawmakers did exactly the same thing, illegals can drive with a driving license. fox news senior judicial analyst, the judge himself, napolitano, by any other name, is with us now. this is all about illegal voting, isn't it? that's a back door to illegal voting. >> i think the people behind this probably want to use it as a couple of baby steps in that direction. yes. i think you're right. it does, however, provide certain safety features like not driving illegally. they have to pass the driving test, they have to get insurance and they have a valid government-issued i.d., all of which serve governmental purposes. but big picture, the liberals

used to love control from the central government in washington. now when there's a different attitude regulating the federal government, they want to resist. this is all part of the resist donald trump that we will let those who are here illegally do this and that. you and i reside in a state that may very well become a sanctuary state, where the police are prohibited, local and state, from helping the feds enforce federal law. that's lawful and constitutional but unheard of in the modern era. stuart: the sole reason for this is that those illegals who can now get a driver's license will vote democrat. that's what it's all about. >> they probably will. now, there are certain classes, certain ethnic groups that are more inclined towards less government or more traditional style government, cubans come to mind, and i don't know what class of people were yelling and cheering in the clips that you just ran, but i think there's a general perception out there

that if they do get the right to vote, they are not going to vote republican. it's democrats who are giving them driver's licenses, not republicans. stuart: suppose for a moment that i'm an illegal, that i'm not a citizen of these here united states. i go to the new york dmv, get my driver's license, i'm an illegal immigrant but i've got a legal driver's license. next election i front up to the voting booth, here's my license, do they have to say to me are you here legally or not? prove it? you don't have to do that. >> you would not be registered to vote. so in order to register to vote, you have to prove citizenship. a driver's license we now know is not proof of citizenship. stuart: couldn't do it that way. >> correct. correct. you still think you are back at the london school of economics, don't you? stuart: no. it was a long time ago. a half century ago, son. thank you very much indeed, sir. are we doing the chicken sandwich? oh, the tease. okay. we are teasing you with the chicken sandwich battle reaching

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stuart: 10:00 here in new york city. we received latest news on, we're waiting for it. i think we 20 seconds to wait. tap dance. i will sing or something. i will not do that. 15 seconds to go until

absolutely 10:00. how long can i keep doing this i wonder. susan will you help me out here. susan: 10, nine. stuart: we'll get that number. it will be on job openings. jobs available, unfilled. here we go, 10:00, give me the number. ashley: we're waiting. we're waiting. so exciting. i can't stand it. hasn't come down yet. stuart: hasn't crossed yet. ashley: here we go. 7 -- 7.26 million. that is the number of job vacancies. stuart: that's a very high number. ashley: huge. much more above the estimate just above seven million. 7.25 million job openings. stuart: that is extraordinary. ashley: think about that. stuart: open jobs. scott shellady, joining us on the phone, real fast, that sounds to me like a strong indicator for the labor market? >> yeah, it's a great number one. number two compared to what we

had with the job numbers last week, numbers coming across the tape today, all very good. i wonder where all the naysayers we're heading into recession. this is all good. it will probably steady the markets for something more of a rally later on. stuart: scott, thank you. we'll get back to you shortly. check the big board following that report. 7.26 million job openings, jobs available, unfilled positions. not sure we have seven million people to fill the positions but it's a big deal. the dow still up, not much, 13 points higher. now this. let's be clear, there is no recession on the horizon. in fact, the economy shows every sign of picking up some steam next year. of course there could be some kind of a totally unforeseen disaster that brings us down but other than that no recession. you know what that means. the president goes into the election with an unemployment rate close to historic lows.

no president since world war ii has been failed to reelected when the jobless rate has come way down. this is not what the trump-hating media wanted. oh, no. just a few months ago we were assured that a recession was just around the corner. they wanted a recession. they insisted, trump put his tariffs would kill the economy. remember the inverted yield curve? oh, they jumped all over that one. watch this. >> recession jitters. president trump said to be rattled as economic alarm bells cause a wild week on wall street. >> there are indicators that the u.s. could be headed for a recession. >> there are some rough waters ahead, maybe a recession. >> fears after coming recession spiked on heels of a key economic indicator which is called the inverted yield curve. >> the yelled curve, before every u.s. recession since 1955. >> recession on the horizon. >> recession.

>> recession. >> recession. stuart: getting whiplash. they must be disappointed. as we head into next year, economy, market, president trump are all showing resilience. big investment firms look toward further economic growth. the president has negotiated new trade deals around the world. the stock market just keeps hitting records. extraordinary, isn't it? the president is about to be impeached yet prosperity rules. no wonder the media has gone rather quiet on the economy. we're not going to get the recession they hoped for. stay on this, bring in "wall street journal" editorial board guy bill mcgurn. where am i going wrong if anywhere? >> no, i think you're right. look, two big things, the trade deal with mexico and canada, coming through. and possibly resolving our disputes with china. i think that's a big plus for growth, in the sense that, investors hate uncertainty the most, right? so if you clear the path there, i think there is a lot of, a lot more growth ahead.

stuart: we just ran a lot of clips there from establishment media people. we're having a little fun. they're all expecting, i think they were hoping for recession? >> look what we have is not an accident, right? we -- this is what happens when you let american people keep more of their money and you deregulate, so they have more opportunities to do things with the money in productive ways. stuart: i see the new spending bill, whether it survives or not, with these tax cuts, because they want to cut some of the obamacare tax. >> right. stuart: i know that is not likely to go through, but it would be a wonderful thing if it did. >> it would. what i'm looking forward to, i'm hoping that the president unveils a growth agenda for the second term, right? not just, we've done very well but there is still a lot of things we could do. stuart: i have the impression that president trump is going to be a big spending conservative. i don't think he really intends to cut government spending that much, if at all?

>> most presidents don't cut spending even when they say they are going to do it, right? it is a problem. stuart: new form of conservatism. boris johnson in britain. he is a big spending conservative with a tory conservative label around him. >> that comes back to bite i think after a while. to have no, fiscal discipline or so forth. i think the president trump is a person who could sell fiscal discipline if he decided to. stuart: like what? >> just not spending as much money in the budgets. he claimed he was angry at the previous spending, right, the last time he was signing things, do you think he could get to reform social security or medicare? third rail of american politics. >> he doesn't seem interested in entitlements as far as i can see. stuart: you see him going into the election in 2020, with a pretty robust economy and -- >> i think as you say, you don't know what could hit for now. if he gets the trade deals through, let's be clear, he is

getting nafta through because he is being impeached, right? i mean it is such an irony that the, president is supposed to be impeached, supposed to be on the ropes and weak. mrs. pelosi is one feeling a little best pratt. she has -- desperate, she has to feel she can do something besides impeachment that is something good for all americans. stuart: do you think impeachment is irrelevant to the economy and markets and the election next year? >> i don't think it is irrelevant but i don't think it is taken as seriously. if this were real impeachment, people would be having this on their screens all the time, watching it, listening for some news of what the president did. the democrats great sin they bored everyone to death. they promising bombshells. talk about bribery, bribery is not in articles -- people are bored. i think most people think this is just washington being washington. stuart: should have run that tape of adam schiff getting

heckled. that is irresistible. bill mcgurn. >> thank you. stuart: couple individual stocks we're looking at. first of all, roku, that is a hi-fiing stock but it is down today. gerri willis at the exchange. why is it down? >> it is down because the cfo is stepping down. that is often a warning sign. but in this case lowden is helping to the pick the successor. maybe not a negative for the stock. the stock was down much more earlier. this thing has been on a tear this year, up over 300%. big player in the streaming space with the hardware. roku went public two years ago in 2017. it has been an incredible performer. but now, cfo stepping away. one analyst on wall street saying that is not unusual after an ipo, company comes public, that the cfo moves on. back to you. stuart: did do very well, gerri. thank you very much indeed. bring back scott shellady to the conversation. he is calling us on the phone

from china. that is important. i want to know what the mood is like there, after this trade deal was announced. scott, tell us. >> well, from all reports, what i can glean from the television coverage which is all one way, they're feeling a little bit better. they're a little bit worried about living up to some things in phase one. i think biggest thing i saw so far is they're now talking about bringing some imports from hong kong into china, instead of through the hong kong ports to help shore up the numbers they may have agreed to. so that is kind of interesting. they're, they would like to endeavor to hit the numbers but, out of the u.s. press, it is hard and fast. that made them a little uncomfortable. they definitely need to get something moving here. i can tell just from also -- press, the economy is not doing well and they're at 30-year lows. things need to move in their direction too. so they have got some pressure as well.

stuart: the word from beijing, i think that is where he is, beijing or shanghai. scott, thanks for joining us. see you soon. >> all right. stuart: seems like hong kong is being squeezed, if china is saying hey, we're bringing imports from america, not through hong kong, directly from america. bill mcgurn, still with us. that seems to squeeze hong kong. >> definitely. hong kong is being squeezed in a lot of directions. this is, for those of us, i was there in 1997 when the transition came. even in the worst-case scenario we didn't think china would completely ruin hong kong in two years. it is amazing. like watching a stradivarius in the hands of chimpanzee what klein has done to hong kong. stuart: it's a terrible thing. that was a vibrant, vigorous economy. >> chinese, no respect for, hong kong is proof of what chinese people can do if they're free and given the chance. you know, used to be we thought that china was towing to become

more like hong kong. we see chinese communism is real. they believe in control. they're not tolerant when some up with questions it. stuart: not good. bill mcgurn, thank you. check the big board. not much movement. up 15, 16 points for the dow industrials. that puts us at 28,250. take a quick look at boeing, temporarilying max jet production that would be in january. the stock is down 1.7%. that takes what, 26 points off the dow industrials because boeing is a dow stock. illegal immigrants in new york state lining up for the driver's licenses. a judge struck down the challenge to the new law. later this hour i break that down with brian kilmeade. senator warren slipping in the polls. voters digest all of her big money and tax plans. andy puzder joins us. he will tell us why she is fading in the polls. that is later this hour. new study says the main

ingredient in magic mushrooms could treat depression and anxiety. doc siegel on that. ♪. ur future, brad. so you can plan for retirement and save for college. oh, that explains this. the nationwide dome. state-of-the-art venue. 80-yard screen. fantasy sports lounge. climate controlled seats. sushi bar. club level pool. really? lastly... retractable roof. whoa. touchdown! peytonville just runnin' away with this one. go peytons. (pop) kind of lackluster. eh, still working out some kinks. who they playing? the brads. worst team in the league. of course.

stuart: very modest gain to report to you. on the dow we're up 20 points. breaking news on bed, bath & beyond. they have a new ceo, that ceo fired several top executives. susan: six executives were fired by the executive hired over from target. the company's chief merchandising officer, digital officer, general counsel, chief administrative officer and chief brand officer resigning last week. stuart: a lot. susan: when you bring in new leadership that, typically happens especially dealing with three years of declining sales.

sales growth dropping three consecutive quarters. you need to do something with the stock price trading below the all-time highs. stuart: those blue coupons for 20% off everybody used to receive didn't work. ashley: no. susan: get them in emails. stuart: i know you do. you talked about this before. old-fashioned kind of guy. still use the mail service. listen to this one. a new study says hall louis again, commonly as magic mushrooms could be used to treat depression. dr. marc siegel is with us. the use of this drug is hallucinogenic street drug. this is medical use under supervision of doctor, to treat depression. does it work? >> as you make as a street drug, causes panic, confusion, out of body experiences. it's a dangerous street drug, as

schedule 1 in the united states claiming it has no medical use at all but researchers are starting to show a medical use. researchers at nyu, in this case british researchers done a study. this is the third important study coming out. here is when we use it. recalcitrant depression. people are spiraling downward. you know what it does? changes your mind-set. increases the hormone in your brain that decreases depression. i think it has real potential for addiction and depression. the problem is, you already pointed this out, how do we control it so we can use it medically but in severe cases not have it then be used as a political football to get it approved for the street? stuart: it would have be administered under controlled circumstances. >> completely. stuart: institutions, that might be possible. >> somebody severely depressed put into the hospital, god forbid maybe this would help them, nothing else is working. i'm all for this. stuart: i'm told there may be a

breakthrough in the treatment of the disease that, lou gehrig's disease, als, i think it is called. is this potential treatment here? >> i'm very excited about it. it is a trial called centaur, made by a company, amylix. the drug stablizes brain cells that are deear rating. that is what lou gehrig's disease, the motor cells in your brain deteriorate, they no longer function. you get weaker and weaker and it is very progressive. it is a study in humans, stablizing the motor part of the cell. it is improving lifespan in the cell responsible for this. the brain is working longer and people are staying stronger longer. stronger longer. stuart: so it is promising but for the distant future? >> it's promising. it is not for the distant future. is the near future. it is not a cure. it is something to keep you going longer.

it may extend life by a year or two. stuart: that is all good news. dr. siegel, thank you. >> good to see you, stuart. stuart: another presidential tweet. i will read it to you. it would be so great if the fed would further lower interest rates and quantitative easing. not use to the president saying those expressions but he did. the dollar is very strong against other currencies. there is almost no inflation. this is the time to do it. exports would zoom. that is just in from the president. no impact on the market although we picked up a couple points. now we're up 40 at 28,277. next. we'll continue our series of the states with the best economic outlook. we'll bring you the number four on the list. we'll reveal which state after the break. we'll give you a hint. this state legalized gambling in march 1931. that gives it away. the full answer, the proper answer, it is on your screen for heaven's sake. we'll be back. that's a promise. ♪.

♪ ♪ ♪

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stuart: 20 points higher. we haven't had that much movement on the market schuss far. we're still pretty close to record levels. got that for you. next one, before the break we teased you, tried to say which state legalized gambling in 1931. it was surely obviously nevada. number four on the list of states with the best economic outlook believe it or not. number four. what are they doing? >> they're placing their bets on their economy. they're doing a lot right. starts with zero. zero tax on anything in nevada. no personal state income tax. no corporate income tax. no inventory tax. no estate tax. stuart: whoa.

>> i spoke to the region that represents businesses in the western part of the state, reno area. they go to california and other states but mostly california all the time. they say, come on in. they tout them with all those incentives. abatements. no payroll tax. in the past year 22 companies moved specifically from california to the reno area. stuart: 22. >> 22 in the past year. tesla gigafactory over there. a metal manufacturer called ardo. tons of tech startups. they're getting a lot of tech startup crowd. a lot of seed money coming in as well. stuart: i just saw that average manufacturing wage. 61,000 a year in california. it is 112,000 a year. >> it is 75% cheaper to live in nevada because, if you take taxes into consideration also, just cost after home, like $300,000, average price. what is it in san francisco? well over a million dollars. stuart: well over that. >> one more thing for you, i

know you would like this. red tape. there is none. you can set up a new building in a company like this, in under a year in nevada. try doing that somewhere else? make it easy. stuart: that's a very good item to mention. lauren, thank you very much indeed. good stuff. big night for new orleans saints, quarterback i should say. drew brees broke the record for most touchdown passes in nfl history? >> did it in style. 540 passing touchdowns. he eclipsed peyton manning who had 539. did it in the third quarter. josh hill took in it for a touch down. 29 of 30 for the night passing. completion percentage was a record in the nfl, 96.7%. he also had 22 consecutive completions on passing, a personal best for him. this guy is amazing. by the way he turns 41. stuart: 41. >> 41 next month. he is a machine.

quick shoutout from tom brady. congrats, drew. couldn't be more deserving. passing peyton in anything is a great achievement. that is from tom brady. stuart: could he get close to drew brees? ashley: absolutely, he could. stuart: okay. ashley: never count tom brady out of anything. that is amazing by drew brees. stuart: we'll talk to nevada senator dean heller, about his state's economy. that is coming up. i think that is in our 11:00 hour. next one, usmca, done. phase one of the china trade deal, done. president trump has begun talks with the british on trade. not done yet. looking good. markets up. positivity all around. peter morici is here to talk about it all. he joins us next. i'm your mother in law.

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♪ sgt. pepper's lonely hearts club ♪ stuart: i will take it. don't hold back on this kind of thing. crank it up. ain't that right, susan. susan: always. crank it up to 10 on all beatles songs. stuart: have you heard this before? >> the movie or -- very colorful. stuart: got two english folks in the audience here. admitting to something terrible. susan: [inaudible] stuart: we're staying with the

british for a moment. we have brexit news for you. boris johnson does not want to delay it any further. he wants it done real fast. ashley: here is the thing he wants to get the bill -- big issue, next year the brits have until end of 2020, to get future relationship agreement with the eu. he said we're not going to extend beyond that the eu says it could take years to get this in place. johnson says, nope. i will make it illegal to go beyond december 31st, 2020. the pound sank on the news. it brings the fear of leaving the eu with no real plans in place. you're smiling. stuart: go for it, boris. ashley: laying down the gauntlet. stuart: who wants to be part of socialist europe for heaven's sakes? get them out. talking about trade, boris and mr. trump, want that done fast. ashley: tremendous amount of trade as president put it, president trump. we do know well, larry kudlow said yesterday, mr. trump's economic visor.

he is planning to go to the uk next month with some other officials to begin the process of opening the doors to a trade deal, which is tremendous. it will be great for the u.s. it would be incredible for the uk t will be free to do these amazing deals. stuart: it would be a big deal. it would. seems like everything is positive on trade. the china trade deal phase one. that is done. looks like usmca is going to get done. they're talking about this british-uk trade deal. bring in peter morici, former trade guy. it is all progress. it is all positive. where am i going wrong? >> you're absolutely right. this deadline business is absolutely correct. i've been in the trade business since i'm 16. i'm now 71. it goes back that far. i've been a trade official. written about them. tenure on them. the whole darn thing. this is like the nfl. everything happens in the last ten minutes of the game. everything happens in the last 30 days of trade negotiations. they already have a template for britain's arrangement with the uk. that is the, with the eu. that is the canada deal. likewise we have a template for

their arrangement with us. that the usmca. matter of them becoming a fourth partner. this can be done and he is absolutely correct. the reason the markets were down and the pound was down is because bloomberg and "wall street journal" were dilitants who have never done trade agreements, oh, that's impossible. it was in print this morning. that is absolutely nonsense. it is not only possible, it is the only way to get it done. stuart: all these deals, the deals we know of, usmca and china phase one deal, are they real good for the american economy? >> well if china deal delivers everything that larry kudlow says it is great for the american economy. it may be managed solution. we have managed trade that bilks it. this evens things up. usmca yes, i know again, the financial press is saying this protectionist provisions but was never meant to be a backdoor through mexico for subsidized cheating, intellectual property stealing, you know products.

they come into mexico like auto parts and then up here. by putting those limits what can go into a car it actually is liberating because it brings back to where free trade would be if china weren't cheating on the things. in my feeling it is very good for the economy. stuart: if it gets rolling, china phase one next year, if it gets rolling, usmca next year what does i had add to our gdp? >> not a lot initially. if china, $200 billion, you figure that should be worth about oh, $325 billion, if we got a 20 billion-dollar swing in exports. with regard to mexico, you have to remember, we already have the nafta. this is sort of expanding things out. so, you know, maybe $100 billion. so overall, we're looking at maybe half a percentage point of gdp if it all got rolling. you have to remember, these things take time to phase in. the really critical thing, here, stu, is the long game. that is, if britain will really face down the eu that is very possible. because they don't have a united

front now. basically france and germany want to put britain's feet to the fire but macron and merkel are arguing among themselves. if britain force as real deal there, it will force reform in europe because the contrast will be profound. stuart: last one, 30 seconds, has president trump totally rearranged the world trading picture? >> no. no one can do that overnight this is like turning a battleship. but he certainly changed the agenda. he changed the terms of debate. from now on, trade can't be, some people follow the rules. china cheats on the rest. right now, the debate is, the discussion will be going forward, how do we have an equitable deal? he has done that with the wto. he just about crippled it. we're going to have to reform the wto or it will be a quaint little debating society over in geneva that means nothing. stuart: quaint little debating society. >> tell me what it has accomplished last 10 years with regard to china? it is kind to let the

bureaucrats continue to get salaries. stuart: morici, i didn't know you were 71. same age as me. >> you're six months younger, fellow. i checked it out. stuart: i'm just a child. >> you're just a child to me. stuart: peter see us soon. >> take care. stuart: check the big board, modest gain across the board. the dow is up. s&p up. nasdaq's up. not a huge rally but we are higher all across. netflix says, most of their subscriber growth is from outside of the united states. so what, susan? susan: it is important looking at saturation and slowdown in u.s. subscribers, they lost subscribers in the u.s. they want to change the narrative to say look at growth outside of u.s. borders. did you know that europe, middle east, africa is the number one international market outside of the u.s.? they have 47 million subscribers there, doubling since 2017. stuart: which area again. >> europe, middle east, africa is the biggest international

markets. they have 47 million in that region. latin america, it is 29.4 million subscribers of the also doubling in the last two years as well. asia pacific has 14 1/2 million. again they have been plowing a lot of money to get international growth, they are the first international mover in these type of markets. one interesting statistic i came across, netflix, how much was it worth 2010? $3 billion market cap. 3 billion. today it is worth $133 billion. stuart: from 2010, to 2019, they have gained a $130 billion worth of market value? >> facing a lot of competition. apple tv. it has been a great decade for netflix. reed hastings will not complain but the future is a little bit difficult with all these streaming services coming online. stuart: the stock is up 10 bucks today, 3 1/2%. not bad i would say. popeye's upping the chicken sandwich fight. i knew we would get back to

this. they will hire chicken professionals working on sundays. that is the day when chik-fil-a is closed. more on chicken wars coming up for you, ladies and gentlemen. ♪. (chime) (shaq) magenta? i hate cartridges! not magenta! not magenta.

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stuart: creeping up a little. the dow is up 42. i'm squinting a little bit. nasdaq is up just four points. we're creeping higher. elizabeth warren, really slipping in the polls. look at this one. latest poll we got. biden 30%. bernie sanders 20%. elizabeth warren all the way down there at 13%. wow. andy puzder with us, former cke restaurant ceo.

why is she slipping like this? >> i think probably a lot of people actually read the plans she has been coming out with. she says she has a plan for everything. unfortunately all of her plans end up hurting the very people she claims she is trying to help. hurting the economy, discouraging growth, really making it impossible for her to get elected. that is a big issue for democrat who can win this next election. they really don't have anybody. she is my favorite candidate. i think she would clearly lose. i hope they would nominate her. she is not doing well. stuart: what about private equity, large groups of capital, buying publicly-traded companies, taking them private and revitalizing them? she is opposed to that, isn't she? >> that is ridiculous. private equity is so important. it helps take companies struggling. turns them into more productive companies. it's a big factor with respect to pension funds.

pension funds have $150 billion invested in private equity. if her proposals took effect, pension funds for teachers, firemen, policemen, would lose $3.6 billion a year in income, which means that all of those pensions would be at threat. so if you're a policeman, public employee, a private employee, you have a pension plan, private equity, you've invested. it is important to you. why she would want to hurt those people i can't imagine. stuart: she is slipping in the polls. >> good news. stuart: andy, i want your comment on the chicken wars in just a moment. first of all i want ash to tell us about popeye's, trying to hire chicken sandwich professionals. ashley: the key is, they have to work on sundays, which is tongue in check reference to chik-fil-a's that has been closed on sunday, has been since 1946. put out ads. popular chicken restaurant, looking for team members.

requirement, must work on sundays. requirements, must have experience preparing chicken sandwiches. no response on chik-fil-a. they maintain the stand not opening on sundays. be honest, chicken wars are a big deal, big money. popeye's sales went up 1% when they introduced the new chicken sandwich earlier this year. stuart: is that right? ashley: now the franchisees are wanting mcdonald's to get in on this? where is the chicken sandwich we can sell. stuart: andy puzder, you used to run cke restaurant. what you to make of the chicken fight? is that a big of a deal? >> it is great for both companies they get a ton of free publicity. that is what they're shooting for. popeye's ran the ads in new york. they ran them in washington. they ran them in l.a. they're only looking to hire people in louisiana, mississippi. two state completely disassociated with the place they ran ads. this is publicity. all about getting attention. popeye's has been very good in that respect over the past year.

every time you say chik-fil-a on stuart varney show. you're helping chick-fil-a. every time you say popeye's we're helping popeye's. it's a good move on that. i hope they keep it up. stuart: as a small example, seems like the chicken wars are a big deal. all fast food chains seem to have to have a chicken sandwich entree into the deal. it is universal now, isn't it? >> it is. we, when i ran carl's and hoard de's, we had them. you need to have them now. they have become more important as people get more focused on health. there is this environmental concern about too many cows and cow flat lens. people think that is big deal. they're cutting back on beef. use impossible products, beyond products, chicken products. it is an important part of the mix. if i were running a restaurant company right now, i would focus on big, juicy delicious burgers.

everybody is focusing on impossible and chicken. i think you can distinguish yourself, get back to what you're good at, which is burgers. stuart: if you can serve them fast, you would be really popular. andy puzder, thank you. >> thank you, stuart. stuart: i was surprised by this story, coca-cola launching a subscription service. what? ashley: what? susan: gives typical insiders, basically a club, call it insiders club. 1000 insiders sign up, you get first taste of 20 plus new beverages that the company plans to release in early 2020. only lasts for six months. that is how long the subscription service lasts for. 10-dollars a month. prepay $50 a month. so you save a month. stuart: cash flow for coca-cola. that is what the subscription service is. >> also for the very loyal fans as well. $50, only runs for six months. not that much for a company that sells billions and billions of

dollars each and every year. stuart: just a start, start of a subscription service. susan: right. stuart: thanks, susan. personally i'm tired of the impeachment circus. so are voters in one area of michigan. a focus group found voters are sick of it. they're sticking with trump. we're all over that next hour with michigan's gop chair. illegal immigrants in new york state lining up to get driver's licenses. it is all legal. brian kilmeade will sound off on that next. ♪. no, it's not in my records. you've got a lot on your plate. deliveries. billy, come in. shift times. i just need to know if it's there. compliance. can i get your 20? for 100 drivers. doug... doug? and where is doug? he should be sleeping. so should you. just because you're married to my sister,

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stuart: dow industrials now up 675 points. we've breached 28,300. similar gain in the s&p, and nasdaq. we're up all across the board. modest gains but up. dow component visa, warning of credit card cyberattacks at what are called point of sale systems. explain. ashley: gas stations here in particular. the old scam they put a skimmer, machine in there, that kind of records your magnetic strip. they use that. this is different. apparently the hackers have gotten into the actual internal

network, they are able to get access to all credit card details. it's a big issue. visa today, putting out saying no chip technology is particularly vulnerable among some of the gas stations. if you don't have a chip you're in trouble. stuart: i pay cash, i like two or three cents a gallon of gas. that is the way i am. brian kilmeade joins us. welcome back to the show. always good to see you. before we go any further i want to show you the mainstream media hoping for recession earlier this year. roll tape please. >> recession jitters. president trump said to be rattled as economic alarm bells cause a wild week on wall street. >> there are indicators that the u.s. could be headed for a recession. >> there are some rough waters ahead. maybe a recession. >> fears of a coming recession spiked on the heels of a key economic indicator what is called an inverted yield curve. >> the yield curve has inverted, before every u.s. recession since 1955. >> they say recession on the

horizon. >> recession. >> recession,. >> recession. stuart: i know you ran that on "fox & friends" this morning. but it is irresistible. they want ad recession, right? >> it was lead story everywhere. they were talking about the economy. give you a counternarrative. this is what people don't understand, in the middle, independents undecided, either the economy is going well or not. you add 100,000 more jobs than you expected or not. either the market went up 100 points or 10,000 the last three years or didn't. you cannot ignore it. you can say there is danger in the numbers if you want but give me a reason. but what happens is, when the market starts going up, you watch the ticker drop at other networks. they don't want to see it. so i looked at this. i went to research, i got a huge team around me, 25 people do whatever i ask any moment. you don't have that type of staff. you're a little bit jealous. i go to page 8 on the b section of "the new york times," i'm sure you can't see this, there is a map, talking about economic warning signs on the midwest

economy for trump 2020. all the places that he took from obama are not having the feeling the economic benefits that many are in other major cities. and there is no doubt about it. the trade war hurt. the delay in the usmca, they paid a price. but for the china deal it hurt. but for the most part, a lot of them said we're looking to put up with a little bit of pain. now the pullback on the slingshot is about to be let go. they don't understand, there is also another 11 months until election day. if they start to see the hurricane of wealth coming their direction and business possibilities i think they could all change. amazing they want to drag something down. stuart: of course. if it is good for trump, they won't report it. if it is bad they will make a headline out of it. i want to turn to that. the lines around dmvs in new york, illegal immigrants lining up who are -- for hours

to get a driver's license. i was talking to judge napolitano a moment ago. to me this is about backdoor voting. at the end of the day, i think that is what the democrats want, they want illegals to be able to vote. what say you? >> i think it's a bad step. i also think it's a bad step to give clean needles to drug addicts. negative behavior is reinforced making it normalized. i'm against it. i think it could be voting but for example, we all know this, if you have a license and expired, it is expired. it could look great. if you have a license and certain color or look, it says illegal, non-immigrant license, if you're a voting, you're working a voting booth, that is not going to pass. if you're trying to doctor it to get through you're breaking the law. it's a federal crime. i actually don't think, i think it is about normalizing, getting citizenship eventually. i don't see them using the license to be able to vote. but i think the next president, if it is it president, they're doing immigration first. i think they will have to

address illegals here. i think kicking out 22 million people or 18 million people is not doing to happen. stuart: right. >> i'm curious to see where it goes. it is permissive culture. i feel bad for people like you, paid the money, took the test, had to play a perfect game as green card holder. if you break any law, you're ineligible get deported. anyone doing it right, must be feeling i'm a sucker. everybody else is getting what i got, little by little. i went through the process. stuart: that is exact, i do feel that way, as a matter of fact. i really do. yeah. went in line, took the tests all rest of it. >> no one asked how you feel. everyone, you're so concerned about, no one says how does stuart feel? we should have a segment, if i could suggest on your show, how does stuart feel. stuart: i like that. >> you vent. maybe dr. drew listens. stuart: has to be about me. very simple as that. ashley: we do that every day. stuart: your name on your show. i got my name on my show.

we're kind of equal here. kilmeade i have a hard break coming. you know what that means. >> i ignore them. stuart: it is your show. see you later, son. we cover america's energy dominance on this show. we love it. we have a surplus of oil and natural gas. a headline in the journal says shale is starting to tick down because of the surplus. we're all over it. we have north dakota senator john hoeven on the show coming up. we know drinking, and driving, dangerous, bad, now driving with a hangover could be risky too. grady trimble is trying on a suit that mimics driving with a hangover. we'll see how he does behind the wheel. that is interesting. 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.

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stuart: here's the question. do we, the people, we, the people, do we want to remove president trump from office before the election? forget the polls. they're pointing every which

way. forget the politicians. they're locked into their party lines. forget any possibility that mr. trump will actually be forced out. not going to happen. but do we want him out? do we, the people, is that the will of the people? in my opinion, the answer is no. emphatically no. of course, the trump haters will never change but they're a small vocal minority. the great american middle is not happy with the impeachment tantrum in d.c. the democrats have made a political mistake. they have let their strident left wing run the whole emotional show. watch this. democrat congressman adam schiff, impeachment manager, gets an earful from some of his coastal constituents. watch it. >> boo! boo! [ applause ] >> boo! you are a disgrace to the house of representatives. liar!

liar! liar! stuart: next, watch michigan democrat elissa slotkin face her angry constituents. roll that tape. >> let's please let her speak. >> how can you overturn the will of 53 million voters in 2016? and why not let voters make a choice for themselves in less than a year. stuart: it went downhill from there. the left is not used to this. they haven't been challenged like this since the democrats pushed through obamacare. they lost the house after that. speaker pelosi is exerting maximum pressure on moderate democrats, most will vote yes on impeachment, but that may cost them their seats next year and it may cost the democrats the house. these are prosperous times. your 401(k) is up, your job is secure, your income is rising, your house is more valuable. you are spending big and yet you are being told by the trump haters that you must hate him, too, that you must defend

civilization as we know it by overturning the last election just months before the next one. it is a classic political misreading. we the people do not want to remove from office the architect of our prosperity. that's my opinion. that may not be crystal clear now but it will be when we get the chance to vote on this president 11 months from now. the third hour of "varney & company" is about to begin. stuart: on your screens right now, left-hand side, the house is about to mark up the articles of impeachment. let's get straight to it. you know who's here. pete hegseth, "fox & friends weekend" cohost. apart from what's going on on the left there, you heard my take. i'm saying we the people do not want him removed from office and i'm sure you will agree. >> you are absolutely correct. i have gone across this country

whether it's speaking, whether it's "fox & friends" just meeting people. there's not a single person who is living their life based on what's happening in that room right there. based on the priorities of the far left. you're right. nancy pelosi never wanted to do this. the far left of her party forced her to. she thought it would be a pressure bell for all the trump hatred. it ended up consuming the entire caucus, the entire conversation, and it's indicative of the democrat party today. what they are focused on, the tail is wagging the dog. the leftist elites, they are talking about things like gender identity and white privilege and open borders and tearing down statues and cops are the bad guys, all these erudite intellectual views that come out of the ivy league and the elites, now have dominated what they want to talk about. turns out the rest of us don't care about those things. we want prosperity and security and free people, the opportunity to rise and achieve the american dream. that's what donald trump is selling. they look over at the left and

say that doesn't change my life, if anything it's a weird academic exercise that has nothing to do with my freedom and my prosperity. go sit in the corner and talk about that. don't try to win my vote. it almost feels like they're not trying to win people's votes who are just living their daily lives. stuart: i will keep the excitement going because i will play a little tape from the president going to the army/navy game. i don't care about the results. i know you are army and all the rest here. let's just up the volume a little. i want to hear the reception. listen to that. that is the president of the united states, the commander in chief, received warmly and then they went on to sing the national anthem, all the spirited young men and women singing away. i've got to tell you, it just gave shivers to me. >> me, too. i watched it live. it was amazing. even the referee was great. you never see this. he said thank you, mr. president, for what you do for this country. the referee is supposed to be impartial, you like donald trump. replay it again.

they also chanted four more years, they chanted usa. there were other chants throughout the game. in that game, the president was well received. very different from what happened in washington, d.c. when he went to the nationals game and i mean, but you know what you also hear from the elites? even at the pentagon if you want to get into the military. they said don't pardon those guys, remember he pardoned matt goldstein and eddie gallagher, the so-called war criminals who were just doing their job and obama rules of engagement? he pardoned them and all the brass said that will be bad, mr. president, it will undermine morale and good order and discipline. the exact opposite has happened. he made the call for the people who were actually doing the heavy lifting and they say that's the commander in chief i want to go fight for. that's the kind of guy i want to be a second lieutenant or ensign for, which is what every single one of those soldiers and sailors were. stuart: you are still going strong so i've got another one for you. i know you are into football. drew brees, the all-time nfl record, i think most passes completed.

>> yep. in nfl history. the guy, he threw 22 straight completions in the game i think it was. i was watching that live last night. everyone says tom brady is the greatest of all time. he's won a lot of championships but drew brees, talk about top-notch character. he's 41, he's no more accurate passer -- it's funny, he got the record, he's a humble guy. he went to the sidelines and started reading about the next possession and the plays. come on, man, just absorb the moment for a second. you are the most prolific touchdown passer in america's favorite game, and they are poised to make another potential super bowl run this year. stuart: and a good man. a good man. >> know the last thing he took flack for was doing a video for take your bible to school day. remember that? the left lashed at him for doing that. all he said is hey, i think the bible's a pretty good thing and i think we should share it with other people. stuart: the horror! >> the horror. how could you? stuart: oh, please. >> drew brees is a great

quarterback, great man. stuart: calm yourself down, lad. 101st airborne may leave the studio. >> we shall. stuart: seriously, thank you. let's go to gerri willis at the exchange. wait a minute. i see all the tractors outside. what's going on? gerri: so it is the 90th anniversary of the listing of caterpillar shares on the floor of the new york stock exchange. to celebrate, the company came down here with more earth-moving equipment than you can shake a tree at, i guess. i'm sitting on the 316f. this thing is a massive excavator. let me give you some facts about it. 141 horsepower, it weighs, get this, 20 tons. you can move a lot of stuff with this. it's got a lot of technology layered on top of it. there's cruise control in here, all kinds of gizmos. it's better than your car at telling you what's behind you. you have huge visibility with this thing. i have to tell you, caterpillar, american-made products, they are

right here at the new york stock exchange. they are celebrating their 90th anniversary and i got to tell you, i may just drive away here now. i'm excited about this. do i look natural in here? stuart: yes, you do. but be very careful. you could do serious damage in those things. i'm here to tell you. gerri: that's probably true. stuart: tractor lady, gerri willis. see you again shortly. next case. i say this a lot on this program because it's true. america is energy dominant. there is a downside. we have so much oil that shale communities are seeing a slowdown. i will talk to senator john hoeven about that, he's a republican, north dakota, big shale state. i want to know if his state's workers are really feeling the heat. i think they are. president trump in michigan tomorrow night for another rally, going after those battleground states. he only won that state by .3% back in 2016. laura cox is on the show,

michigan gop chair. the third hour of "varney & company" just getting started. ♪ you don't use this old thing, do you? no! or how 'bout this dinosaur right here? nope! then why are you still using a laser printer? it's got expensive toner cartridges. but this... is the epson ecotank color printer. no more expensive cartridges! big ink tanks. lots of ink. if you don't think this printer's right for you, just pick up your phone... (chuckling) ...and give me a call. the epson ecotank. just fill and chill. available at... ♪

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stuart: goldman sachs is going to spend big to fight climate, i guess mitigate climate change. how much are they spending? ashley: $750 billion. they want to be the kinder, gentler, more socially conscious goldman sachs. let's not forget, remember matt taibbe, the writer in "rolling stone" described goldman in 2009 as the world's most powerful investment bank, like a great vampire squad wrapped around the face of humanity. it was a classic line. they were the evil bank. they completely changed theirage. they will help green initiatives, stop investing in companies that use fossil fuels and try to help the underprivileged. stuart: can we get back to the

days when an investment bank made a profit? that's what they really wanted. they want to make a profit. a big profit. so they can reinvest in all kinds of industries and make progress happen. ashley: they are caving here. they are caving to criticism. stuart: socially conscious. okay. now this. this is true. america has energy dominance. we have a surplus of oil and natural gas. we are energy independent. check this out from foxbusiness.com. quote, chevron takes a $10 billion charge, that's because of our cheap energy. look at this from the "journal." shale slowdown takes economic toll. north dakota senator john hoeven, republican from an energy state, with us today. mr. senator, this is the downside of energy dominance, isn't it? are you guys in north dakota hurting? >> you know, we continue to grow. matter of fact, we produce more than 1.5 billion barrels of oil a day. that's a new record for us and

it continues to go up. now, how much we can drill is dictated by the oil service industry and because of the workers that come in to complete the well. you've seen slowdown in some areas but we are a very low-cost producer so we are continuing to grow. stuart: the price of oil today is $60 a barrel. can you make a profit in north dakota at 60 bucks a barrel? >> oh, yeah. we certainly can. as a result of the technology development that we are doing, not only do you get better environmental stewardship as far as your last comment there in regard to goldman sachs, we are producing more oil and gas with better environmental stewardship and the price at the pump today for a gallon of gas is about $2.50. think what that would be if we had to rely on the middle east or other parts of the world instead of what we are doing here in america. stuart: do you think i went too far, mr. senator, by putting my hand on my heart and sort of bemoaning the social policies of some big corporations? what do you think?

>> the real solution is innovation and technology. what we are doing to produce more energy with better environmental stewardship. that's the real key. that not only helps us here in america but other countries adopt our technologies and that's how you get better environmental stewardship in our energy production. we are doing that every day. again, back to american ingenuity, american innovation. stuart: have you got the ingenuity and info vacatinovati your oil and gas out of north dakota? you've got a pipeline problem. >> we need more transmission, more pipelines, more transmission for electricity, more infrastructure in this country. that again not only gets the product out more dependably at a lower cost but again, back to taking care of the environment. you want new infrastructure. we've got to build that and get the permitting authority to do it. stuart: i thought that we would speed up the permitting process, especially for pipelines. >> this president, this administration has. that's made a huge difference. that's why you are seeing this

growth in energy development. stuart: mr. senator, john hoeven, thank you for joining us. always appreciate it. >> merry christmas. stuart: merry christmas indeed, mr. senator. yes, sir. thank you. next case. amazon. banning third party sellers on their website from using fed ex. is that because fed ex is not performing real good? lauren: if you are a therd pairy seller on amazon, you can't ship prime using fed ex ground. it seems if you read between the lines, fed ex is really nervous about what amazon is doing. they are a retailer but a huge competitor when it comes to shipping. this is part of the statement fed ex put out. a minuscule impact they say it will have, but you have limited options right now, if you sell on amazon, to get that item to a customer this time of year, when you have high demand delivery days. if you are waiting for something in the mail and it's coming from

this third party seller on amazon, who might have used fed ex ground, you might not get your item in time, you might have to pay more for it. stuart: amazon does things well. shipping is extraordinarily good. very hard to compete with them. even fed ex is falling by the wayside a little in terms of performance. real surprise to me. lauren: and ups. in two years, amazon will ship more packages than fed ex and ups. stuart: that's why amazon's stock is up 12 bucks and fed ex is down $2.69. there you have it. all right. you really do get it all on this program. if you get behind the wheel while hung over, it can be just as dangerous as if you are driving drunk. ford has created what they call a hangover suit. it simulates the effects and grady trimble will try it on, next. ♪

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headquarters in michigan, testing out a suit that mimics driving with a hangover. go at it, grady. take us through it. reporter: stuart, i'm not actually hung over right now but i sure do feel queasy as i drive through this test course. nolan with ford is with me. i've got on this hangover suit. i've got about 45 pounds worth of weights on my wrists and ankles and chest and on top of that, you see the headphones i have on? i just hit a cone trying to park. these headphones have this pulsing sound going through them to mimic kind of that throbbing feeling that you get with a headache, then on top of that, they amplify the noise and then i know you like my eyewear. what's that do? >> so the light actually, driving over a cone right now, the light is sensitivity to light. everybody's hangover's a little different. this is just some of the side effects. interesting part about this suit, it was developed over in

germa germany. reporter: so these are professional researchers who developed this. of course, to get an accurate feeling of a hangover, they got drunk and decided what would fit well in this suit to mimic a hangover, huh? >> absolutely. this is part of our global driving skills for life program which is a free advanced driving program. we actually put teenagers in this suit to simulate what it's like to be impaired. it's good messaging around the holidays. reporter: i was going to say, everybody knows not to get behind the wheel drunk, but almost everybody gets back in the car the day after drinking and think that they're fine to drive home. but as i drag this cone, i think that's a good lesson that maybe you should think twice before you do that, huh? >> yeah, absolutely. you know, it's something that needs to be talked about. unfortunately, there's way too many crashes due to impaired driving. a third of all the fatalities so about 10,000 every year are due to impaired driving. we don't want to see that. reporter: we are having fun here, but obviously it's something to remember this time

of year, and really, any time of year before you get behind the wheel. and i will say one thing that you can't really see on tv, these weights make a big difference. you feel sluggish the day after a night of drinking and that is what this mimics. it's hard to even press the brake and stop where i want to stop because, you know, these weights affect my judgment and perception. stuart: grady, that's a really good demonstration of what not to do after a party, the next morning. please give our thanks to the ford people, because that is a very instructive, good message. it's a pity about the cones, but thank heavens they were only cones. all right. good stuff. grady trimble with ford. good stuff indeed. thanks. i say we've got a running of the bulls. yes, we do. look at that right now. we've got jpmorgan, morgan stanley, piper jaffrey, bank of america, all hot on 2020 and the

market's performance next year. doing well right now. we had market watcher keith fitz on the show yesterday. he says the dow could hit, there's a remote possibility that it could hit 30,000 by december 31st, this year. that's a few days away. i want to know what a ubs guy thinks of that. he's on the show next. ♪

stuart: you think the dow could hit 29 or even 30,000 this year? are you serious? this year? >> oh, yeah. stuart: surely not. come on. can't be. >> you bet, stuart. how many times have i said things on this show, some of which i have lived to regret, some of which i lived to celebrate. stuart: i think our market watcher there, keith fitz-gerald was out on a limb, shall we say, but it was good television, wasn't it. are we going to get anywhere near 30,000 by the end of this year, or even by the summer of next year? i will bring in david lefkowicz, america's equity strategist. senior america's equity strategist. >> not the right order but it's okay.

stuart: so what do you think? obviously not this year. i don't think you will see that. >> no. stuart: the summer of next year? >> yeah. i think by the summer of next year we could easily see something along the lines of a 5%, 6% gain in the markets. we don't have an official dow price target, but we look at more the s&p and -- but you can -- it's basically the same thing. stuart: jpmorgan, goldman sachs, bank of america, piper jaffrey all saying it's looking good. what's so good about it? >> a couple things have changed. we have the trade deal and it hasn't been finalized but it's our expectation that it will be signed between china and the u.s. in january or so. then probably most importantly, look, all the last 12 months has all been about recession fears. this fourth quarter has been the mirror image of the fourth quarter a year ago. remember, if we were talking a year ago, markets were down 10% at this point in the fourth quarter. now they are up 8% this point in the fourth quarter. i think that recession fear has

been lingering for a number of months. it's finally dissipating and i think that propels us a little higher as we go into next year. stuart: what dark cloud is there on the horizon that would really upset that scenario? >> so recessions don't happen spontaneously. they are usually caused by higher inflation and tighter monetary policy. if we saw a pickup in inflation or anything like that, not what we are expecting, but that could be something that is -- that upsets the apple cart. we have an election coming up. i think it's too early to be positioning portfolios for different election outcomes. we just don't know who the candidates are at this point, who the nominee's going to be on the democratic side, and also, politicians often tack to the center after the primary. it's important to bear some of those things in mind. look, an election will probably create a little uncertainty. stuart: it's extraordinary, isn't it. i think this bull market is now 11 years old, if i'm not mistaken. >> that's right. stuart: it started like in march of '08. >> '09. march of '09. stuart: '09. okay. march of '09. the dow hit 6,300 and then straight up from there.

have you ever seen a market rally -- you are a lot younger than i am but have you ever seen a market rally like this? >> this has been a good rally. it hasn't been -- so over the last -- stuart: sensational. >> put it in perspective. the last ten years, the s&p 500 is up 13.3% annualized. that's a very good return. historically, stocks return about 9% or 10%. so it's better than average but it's also not off the charts. what's been propelling that has been corporate profits. corporate profits have been the oxygen for fueling the growth in the stock market, and the good news as we go into next year, i think we will see a little improvement in corporate profit growth for 2020. stuart: i don't want to get into politics but if there were a democrat who looked like they were going to win next year's election, and who has pledged to raise taxes and spending, would that be a dark cloud for the stock market going forward? >> i think at a minimum it would create some uncertainty. we know investors don't like uncertainty.

stuart: i don't want to talk politics. i know you don't. >> at the end of the day what's most important, if you separate your politics from your portfolio. but i do think it's fair to say that will that create some uncertainty, yes. will it be potentially some winners and losers from some of those policies, yes. i think it might be appropriate to position portfolios for that outcome. i think it's way too early to be doing that. stuart: right now you think we are going up and that's it? >> i think full disclosure, i think the markets are maybe a little ahead of themselves. i think we need to see some improvement in manufacturing sentiment. that hasn't happened yet. markets are behaving as though we have already seen a bottom in manufacturing sentiment. we haven't seen it yet. but i do think it will come and i think therefore, that is what propels markets a little bit higher. a 6% return is not overly aggressive for -- stuart: not bad. after 10 or 11 years of upside, another 6% ain't bad. >> not bad at all. stuart: david, thanks for joining us. always appreciate it. thank you, sir. president trump did speak with britain's prime minister

boris johnson and they did speak about trade. know any details? ashley: yeah, they did. obviously he called to congratulate mr. johnson on his huge victory but this has been on the back burner for some time. all they had to do was get brexit down. now boris johnson has a majority with his conservative party and that will go through and indeed open the flood gates for a big deal, as the president said, a tremendous amount of trade. they already have a good one but this apparently will be much expanded. the chief economic adviser larry kudlow said yesterday that he's planning to go to the uk next month with some trade officials to start the process, laying the groundwork to doing this. it's great for the uk, great for the u.s. stuart: do you know what i saw this morning? the unemployment rate in britain. ashley: yes. was the highest -- stuart: the lowest. ashley: i mean the employment rate was the highest since 1975. stuart: 3.8% unemployment in britain. i thought most of europe was close to recession, close to

double digit unemployment but the brits, get a trade deal with them, for heaven's sake. what's wrong with that? ashley: it's coming. stuart: okay. streaming news. it's just coming at us. the script says big streaming news from disney. what is it? lauren: a month since launching disney plus, their streaming service, 22 million mobile downloads -- stuart: it hit 22 million? lauren: what's more striking to me is when you are watching disney content, you are watching for a longer amount of time than you are on netflix or apple. that's a big deal. they've got the content. now, do they have staying power? when they increase the price eventually or when the free trials are over, are folks still going to subscribe and pay for disney plus. that's the question mark. so far, so good. stuart: it's $6.99 a month? lauren: correct. stuart: in the great scheme of things, $6.99 a month ain't bad for a month's worth of entertainment from disney. susan: lot of entertainment and keeps the kids quiet. stuart: what's the word, they

keep them on -- ashley: recurring revenue. stuart: retention rate. lauren: retention rate. stuart: what's the news on netflix? i don't know it. lauren: netflix needs to respond to what disney and others are doing. for the first time ever, they always told us how many subscribers they have in the u.s. now they are doing overseas. look, the stock is up 3%. you can make the argument they are saturated in the u.s. but check out overseas. in their biggest region after north america, europe, the middle east and africa, 47 million subscribers. that more than doubled since 2017 and the revenue in that period, more than tripled. so netflix is sending the message, we've got competition but we've got growth. we are a global company, 158 million worldwide paying subscribers. stuart: netflix stock was up 10 or 15 bucks earlier. lauren: 3%. stuart: got it. we have to look at something on the downside. that is boeing. actually, boeing has recovered. now they are up two bucks at $329. the news early this morning

which had sent them down was that they are temporarily halting development, construction, i should say, of the max jet. that hit the market like a ton of bricks. boeing went down to $321. it has bounced back up again. i don't believe there's any fresh news out there. it's just maybe some traders buying in the low 320s, pushing it to 329. got it. bed, bath & beyond sweeping their executive suite. sweeping the whole thing out. ashley: hitting a seven-month high. this as the new ceo took over in october, he was the chief merchandising officer at target. he's literally, these are the people who have been taken out. five senior members, chief merchandising, marketing, chief digital officer, chief legal officer, general counsel, chief administrative officer, all out. clean broom sweep. part of the turnaround. analysts said this was long overdue, needs to happen and already we are seeing some price targets raised on bed, bath &

beyond as this goes about. stuart: look at that. target, that is a new all-time high. our retail people have been telling us that target is one of the big winners from this holiday season. it certainly looks like a winner now. it's up another two, nearly three bucks. $128 on target, all-time high right there. president trump heading to battle creek, michigan tomorrow night. he's got another rally. big battleground state for the president. he won by, what, .3% in 2016. next, the head of the michigan republican party. i want to know if michigan is still up in the air for president trump. ♪ ugh, another electronic signature. you have to print, walk, sign, scan, recycle, walk, email yourself... really?

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boo! [ applause ] you are a disgrace to the house of representatives. liar! liar! >> okay. well, i'm thrilled to see such a great turnout today. >> please let her speak. >> okay. stuart: let me recap that. that was congressman adam schiff actually in beverly hills getting heckled big-time, and michigan congresswoman elissa slotkin, both democrats, both shouted down at town halls because of their party's approach to impeachment. now look at this. this is an article on axios, the website news service. these obama/trump voters are just trump voters now. this is all about a focus group in michigan. it showed that even obama voters there are tired of all the trump impeachment talk. michigan's gop chair, laura cox, is with us now.

how are michigan people, the voters there, tell us objectively if you can, how they are feeling about the president and impeachment. >> well, i think michigan voters are excited to welcome our president back to the state as well as the vice president tomorrow for a merry christmas tour. you know, they understand that, you know, congress was elected to do things to help their families and their businesses here in michigan, and they're frustrated. they understand that the impeachment hearings are just a game and we want to make sure that we deliver the president and he's here to come talk with them and talk about what his policies are and his vision for the future. stuart: if there was a straightforward vote in michigan, statewide tomorrow, if you can get that earpiece in, i will repeat the question, if there -- >> i did. stuart: if there's a statewide vote in michigan tomorrow and the question is impeach and remove from office, yes or no, who wins? >> it's a resounding no and the president wins. absolutely. stuart: you sure of that?

i'm asking you to be objective being the chair of the gop. >> i'm being very objective. like you said, voters that voted for obama are frustrated because they sent congress to do a job and they are just doing a political game. they see president trump as an absolute threat to them and they have resorted to political games in d.c. instead of doing what people need here in michigan like voting for usmca which would be a huge boon for michigan and our economy. we are already doing really great in michigan, you know. manufacturing is booming and we want -- with that passing, it will be a huge boom for us in michigan again. stuart: let me go back to the 2016 election which president trump won. let me see. 2016 results. just in the town that he's going to, he won that town, that district, calhoun county, won that in a landslide but he only narrowly won the state and that

was by, what, .3%. you really are a battleground state and it is -- surely it's going to be pretty close next year, isn't it? >> oh, you know, we believe it's going to be a bigger -- he's going to win with a bigger number of votes than he did the last time but he absolutely recognizes that he needs to talk to the michigan voters, he needs to talk about his vision, he needs to point to the track record of how people's families and lives are much better than they were before and we need to re-elect him because of his policies to continue our economy growing, fighting for our veterans, keeping our border safe. all the things that are important to michigan, president trump has a track record to point to. it's really important he comes to battle creek and talks to the folks across michigan and talks about what he plans to accomplish in the next four years. stuart: will you be in battle creek with the president tomorrow night? >> oh, absolutely. i wouldn't miss it. stuart: do you know if they are lining up already to get in? >> you know, i don't know.

i haven't been over there. i'm actually on the west side of the state today. but i absolutely expect people will probably be camping out tonight and it's very cold but they will risk everything to make sure they can get in and see the president live. it's going to be an historic day tomorrow. he has a lot to say and he's going to be joined by the vice president which is a special treat. so we are really excited to welcome them both back to michigan and we expect to see them many times in michigan. they're not going to take michigan for granted. he didn't in 2016 and he absolutely won't in 2020. stuart: it is a battleground state. that's the way it is. lauren cox, thanks for joining us, as always. we will be watching the president tomorrow night. thanks, lauren. >> thank you for having me. stuart: now, some people have said this is a breakthrough for the treatment of als, lou gehrig's disease. there has been an important development here. that's important for all of us. what have we got? lauren: a new drug, an experimental drug, very promising results in clinical trials, in slowing the symptoms of the disease. your ability to speak, your

ability to eat. they haven't released all the information yet, but they are hopeful. what doesn't look like this clinical trial was able to show is if it improved your life expectancy. right now, there's only two drugs on the market that treat als or lou gehrig's disease so this is very promising. stuart: but this drug, it is in human trials? lauren: it is in human trials. they intend to ask the food and drug administration to approve it. very hopeful. stuart: very hopeful. good stuff. doc siegel earlier today said this is a very hopeful development. in a situation which is very very hard to treat. ashley: it's cruel. stuart: there's no cure. ashley: so awful. stuart: they just want to slow it down. this drug might slow it down. ashley: good. stuart: okay. good report. check all-time highs on three stocks. look at them go. apple is at $280. microsoft has slipped a bit. it did reach $155.80 i think it was, or close to $156. look at target go, 2.25% higher,

$128 on target. overall, the market is higher. not bad, huh? we have our finger on the pulse of the best performing economies in the country. yesterday, we gave indiana a victory lap. they were number five. today, it's number four. that would be nevada. we have a former senator, dean heller, next. i want to know if his state is held up by more than just slot machines and blackjack. keep it on "varney." we're coming back. ♪ (chime) (shaq) magenta? i hate cartridges! not magenta! not magenta. i'm not going back to the store. magenta! cartridges are so... (buzzer) (vo) the epson ecotank. no more cartridges. it comes with an incredible amount of ink that can save you a lot of frustration.

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stuart: all this week, we have been highlighting the five states with the best economic outlook. yesterday, number five, indiana. today, it's number four, nevada. let's bring in former nevada senator, dean heller. mr. senator, if the economy's doing so well, why is the state run and controlled by democrats? >> well, that is an interesting question, and that is the truth, but the bottom line is we have some reasonable democrats here in the state of nevada, pro-business democrats. that's why the state's doing so well. stuart: but look, nevada surely

is more than slot machines and blackjack. what else you got going for you? >> we have mining, but it is a service industry. clearly the fact that the tax cuts and jobs act is working so well, i don't think any state has benefited more from that bill that the president signed than the state of nevada. but we are a service industry. if you take a look at nevada, we are building that new football stadium for the raiders. wait until they come into town. we are doubling the size of the convention center so the growth and the forecast in the future is phenomenal. going to be incredible next few years. stuart: are you getting a lot of companies from california, high tax california, jumping over the state line to nevada? >> oh, without a doubt. without a doubt. in fact, that's where the -- where the growth is coming from. in fact, even in the northern part of the state, which is much smaller than the southern part, they are anticipating 500,000 new people moving to nevada over the next five to ten years. that is going to double the

population in that region of the state. so yes, most of them are coming from california. nevada is pro-business. i don't know today what california is. i think they are pro-feelings and that's why those that are business-oriented are getting out of that state. stuart: you are cruel, mr. senator. you are cruel putting down california like that. the golden state, for heaven's sakes. >> merry christmas, by the way. stuart: am i right in saying -- merry christmas -- you have no income tax, no state income tax in nevada, no estate tax, i think? >> that is correct. that is correct. stuart: you have a sales tax? >> by the way, i was secretary of state about a dozen years ago and we had 40,000 new entities every year coming into the state, whether they were corporations, limited partnerships, limited liability companies. 40,000 a year. i'm sure that hasn't slowed down, if it hasn't gotten bigger. i'll tell you right now, stuart, most of them are coming from california. stuart: love to haear it. dean heller, thank you for being with us.

congratulations for being number four on a very good list. dean heller, everyone. now, this just came at us and i love it. boris, as in boris johnson, has banned his people, ministers, from going to davos? ashley: he has, part of his anti-elitism push. very few cabinet members of his will be in the house of lords. he doesn't want the people, the hedge funders and trading desk million naa millionaires and oxford university just canceled its davos party. it's having a knock-on effect. reuters reporting a source saying president trump plans to attend davos. that's the cat among the pigeons. stuart: what have you got? lauren: just one thing. don't you think as the uk is leaving the eu, they don't want to look so insular? wouldn't they want to be at davos? ashley: no. stuart: no. he's a new conservative, man of the people. people like him. he doesn't want to be -- lauren: so it's messaging? that's your argument? it's messaging?

stuart: right. ashley: gas bags. stuart: i hope we're not going too extreme. ashley: maybe but it's true. stuart: no group of people in the economic world has been so consistently wrong than the geniuses at davos. they did not see the crash coming in '07-08. they did not understand what was going to happen to the economy with mr. trump in charge. they did not see the stock market rally. ashley: too busy giving speeches in the alps. stuart: drinking chablis with the brie. can't resist this stuff. more "varney" after this. ♪ look, this isn't my first rodeo... and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home.

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board. would you look at that. the dow reached 28,300. it is up a quarter of a percent. doesn't sound like much. ashley: apple, microsoft, target hitting all-time highs. stuart: don't you love it? ashley: i do. stuart: i own a tiny thin sliver. the dow is up 81, 82 points. don't you love it. confirm, ladies and gentlemen, we have 45 seconds ago, confirming again, president trump will go to davos. ashley: according to a source. we know he changes his mind. i always love it. president trump will go to the gas bags in the alps give them a dose of realism which they hate. it is cat among the pigeons when president trump shows up. stuart: boris, boris johnson prime minister of great britain, banned his ministers from going over there i'm repeating news because i'm so shocked at it, boris bans his ministers from

going to davos, he doesn't want to be part of elites. you look skeptical. lauren: i'm a little skeptical. stuart: what? lauren: you will tell me, december last year was terrible. december this year is great. i'm worried about january. i told you you were going to kill me. stuart: leave it at that neil, bail me out. it is yours. neil: we're following same thing you are. markets are in record territory yet again. the president's approval level is rising right now. in fact according to one poll he is leading all his democratic likely opponents. we've got "wsj at large" host gerry baker, is it officially the economy, stupid. gerry, great to see you again. good job with the attorney general. i want to get into that with you. journal, your show, the idea it all comes down to the economy, how we're doing, how we're feeling that