maneuvering to set the debate in the senate as already taking place. you were talking to senator cruz about that. senator schumer is trying to sort of control what will happen. maria: yeah. >> 2020 is looking like it's going to be a pretty good year for the economy and the market. maria: sure is. thank you so much. right to stuart varney. "varney & company" begins now. stu, take it away. stuart: good morning, maria. good morning, everyone. today, the president of the united states will be impeached. it appears that speaker pelosi has the votes she needs. it's entirely partisan. it's a big political risk for the democrats. the polls are already moving against removing the president from office. the president himself has written a very sharply worded letter to the speaker, addressing her directly he says you violated your oath of office. the democrats, he says, have declared war on democracy and they have done it because they lost the last election and have never recovered. that's from the president. tonight, right around the time the impeachment vote is taken,

the president holds a big rally in michigan. an historic day. the 2020 election framed, impeachment and socialism versus prosperity and america first. on this day of all days, the markets are poised for more record highs. impeachment on wall street is irrelevant. the dow is going up just a few points. same with the s&p and same with the nasdaq. green arrows for the markets this morning. there is one big loser. that's fed ex. it has issued another profit warning. the real problem is it's not doing well against amazon in the delivery wars. it's on-time performance has been criticized. it's feeling the amazon effect and the stock premarket down a whopping 7.5%. yep. historic day, impeachment, market records and president trump is all over it. "varney & company" is about to begin.

stuart: let's start with money. not politics. let's start with money. stock futures show a move up at the opening bell, and joining us, john lonski. we are going to use him as a market kind of guy this morning. are we going to go up from here, not just today, but into next year? >> yes, we will. i don't think it's going to be as big of a move as we had in 2019 but i can see the market moving higher, 5% to 10% next year. stuart: 5% to 10%. >> yes. stuart: on top of what we already had? >> i think we will get this expected improvement in profitability. that will be very important. stuart: am i right in saying impeachment, this is impeachment day, is irrelevant to wall street? >> thus far, it has been irrelevant. nobody is speaking about it in the markets. nobody seems to care. stuart: what's the big dark cloud if there is one over the market and the economy?

>> well, one dark cloud might be that we begin to see a pickup in business activity. the bond market becomes frightened and it moves interest rates a bit too high. but i think if that's the case, the ten-year treasury yield moves too far above 2%, that's a problem the market will eventually correct, perhaps with some help from the federal reserve. stuart: kudos to you, john lonski, because throughout the last couple of years when you have been on the show on a regular basis, you have consistently said the economy is poised for more growth and the stock market is poised to go up some more. you are saying exactly the same thing now. >> i'm saying that in large part again because i believe that interest rates are going to remain relatively low and of course, that lessens the competition faced by equity space by dividend-paying stocks and that ought to provide a very nice underpinning for the u.s. equity market. let's not forget, a lot of u.s.-based companies receive a lot of their revenues and

earnings from overseas operations, and as the world economy we believe is set to improve in 2020, that's going to help the bottom line for a lot of your s&p 500 member companies. stuart: it's a terrific position to be in. we are at the end of the decade, we've got a ten year, 11 year bull market on our hands, the economy poised for more growth and what have we got in d.c.? impeachment. isn't that extraordinary? it is to me. >> you know, the same thing, we had that in 1998 when bill clinton was president. the market could care less. it barreled higher right through '98 into '99 and the early part of 2000. we could be seeing a repeat of that. hopefully we don't become overvalued on the equity side as we did in early 2000. stuart: stay there, john. i have to deal with one negative. that negative is fed ex. it's going to open sharply lower. gave another profit warning. gerri willis is at the new york stock exchange. i will put it to you, this is the amazon effect on fed ex? gerri: yeah, you got it.

amazon disrupted all the retailers, right, now they're disrupting logistics. fed ex just can't keep up. they are spending a lot of money trying to compete, getting packages to homeowners' houses, right, and they can't do it. they talked about that, they talked about the shortened holiday shopping season, bad weather, fewer packages. it was just an abysmal quarter on the top line, the bottom line, earnings and revenues, worse yet they said for the fourth time this year, we're not going to make as much money going forward. so that was a really negative for the market and of course, this is as the biggest drag on the dow right now, as you can see the stock down 7%. back to you. stuart: right around christmastime, there they go, down 7.5%. gerri, good stuff. thanks very much. let's switch over and take a look at apple. looking at a series of record highs recently. premarket it's at $280 a share. we've got news. have i got this right, the

airpod ear buds sold out everywhere online? susan: these are brand new ones launched in october. they are sold out pretty much everywhere. only launched in october. sold out since november. it's going to be tough to get them under the tree. but if you try, hey, that's a great effort. they are sold out right now at apple itself, best buy, walmart, target, amazon and others are out of stock. apparently there's one walmart in kearney, new jersey, which has some stock, limited stock available if you need to buy. but this is great for apple. ashley: you wouldn't to go there? susan: you can get that for me for christmas even though i already have a pair. wedbush says they will ship 65 million of these airpods, even the base model, 65 million this year, 2019, and 90 million next year. the stock has a lot more to go. stuart: think of the revenue from ear pods or airpods, whatever. think of the revenue here. millions of sales. susan: the wearables itself,

that division, that includes the watch, by the way, a fortune 200 company on its own. they generate $15 billion to $20 billion in sales. stuart: my, oh, my. i'm not big on negatives but i will bring another one in here. maybe boeing. take a look at that premarket. it's actually up again this morning, at $328 a share. yesterday, they announced they are temporarily suspending max jet production as of january. what kind of effect will that suspension have on the overall economy? john lonski, he's an economist, he should know, any impact? >> ripple, not a wave. it will have a very slight impact on the overall economy, industrial production. after all, if we take all aerospace together, that's only 4% of industrial production which is a fraction of overall economic activity. we can live with this. stuart: yeah, it's just that it's the most important plane maker in the world. i think it's the largest maker of planes in the world.

and you know, when you stop production of the most important plane, you think oh, my goodness me, what does that mean? >> at some point, production is going to be resumed. this is not going to become a permanent fixture of problems being faced by boeing. it will be a passing problem. it's going to be disruptive, it's going to be costly for some over the near term, but i don't think it's a major long-term issue. boeing will be there as one of the world's primary aerospace companies indefinitely. stuart: maybe i should buy it at $328. you are not a stock kind of guy so i won't ask you. maybe i should, though. because i have said that about uber and about peloton. i didn't buy either of them. wonder if i will buy boeing at 328. i don't know. i'm in a christmas kind of mood. go on. >> people ask me about boeing when it was selling at 50, should they sell it because they had some sort of operational problem years ago. i said hang in there at 50. stuart: you did. that was good.

all right, john, thank you very much. look at futures, please. here's how we open this wednesday morning, on the upside. not a huge gain, but remember, we are already at record highs. in his letter to speaker pelosi, president trump said you, the democrats, you have declared war on democracy. what does mike huckabee think about that? he's next and i will ask him. the president speaks in michigan tonight. he's holding a big rally there. you can expect to hear a lot more of what he thinks about impeachment and i don't think he's going to hold back. we will tell you all about it after this. woman: friction points, those obstacles that limit a company's growth. i try to find companies that turn these challenges into opportunities. but by going out in the field, and meeting management, suppliers, competitors. in the end, it's these unique companies with creative business models that will generate value for our investors. that's why i go beyond the numbers.

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♪ ♪ ♪ everything your trip needs for everyone you love. expedia. for everyone you love. you may have gingivitis. when you brush, and the clock could be ticking towards bad breath, receding gums, and possibly... tooth loss. help turn back the clock on gingivitis with parodontax. leave bleeding gums behind. parodontax. peyton, what abrad, 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. of course they do. here, i got more to show you. keep up, now. a little hustle. stuart: all right. let's get to that letter from president trump to speaker pelosi, scathing is just one word that comes to mind. ash, is this about impeachment, the highlights? ashley: i could start at page one and go through page six for highlights. we pulled out three quotes. here's the first. the articles of impeachment introduced by the house judiciary committee are not recognizable under any standard of constitutional theory interpretation or jurisprudence.

they include no crimes, no misdemeanors and no offenses whatsoever. you have cheapened the importance of the very ugly word impeachment. then there's this. history will judge you harshly, as you proceed with this impeachment charade. your legacy may be turning the house of representatives from a revered legislative body into a star chamber of partisan persecution. and one more, you and your party are desperate to distract from america's extraordinary economy, incredible jobs boom, record stock market, soaring confidence and flourishing citizens. your party simply cannot compete with our record. stuart: okay. that's the letter. you gave us the highlights. all right. i want to bring in former governor of arkansas, mike huckabee. sir, governor, that was very very strongly worded. the man is right there on the attack. you think that's a good political strategy at this point? >> a brilliant political strategy.

this draft had to be redone because it was done on paper and burned up so he had to write it on steel because he did it with a blow torch. this was the kind of letter that you love to see a political figure taking because he forgets the diplomacy, he doesn't pretend we are going to be politically correct and sweet and kind. he does exactly what he needs to do and that's fight back, fight back hard. there's a lesson there for republicans. i hope they learn it. i thought the letter was absolutely brilliant. not just for today, but i believe he's right, 100 years from now people need to read this letter and understand what a total joke this whole impeachment sham was. stuart: he speaks tonight at a big rally, battle creek, michigan. michigan, i might add, battleground state. i think he's going to frame the 2020 election, i think he's going to say impeachment and socialism versus me, prosperity and america first. what do you think? >> i think you're exactly right. he's got a great message to tell. he's got a jobs report, he's got an economy that's on fire. the only thing the democrats have on fire is their pants from

lying so much. that's all they've got. all they can say is we don't like donald trump versus you got record unemployment, you have jobs, wages up, trade deals that are beginning to work. that's an increase in every bit of the economy. this is a president who has forced european nations to start funding their share of nato. maybe he didn't do it with the kind of finesse a lot of the liberals would have loved but he gets the job done and ultimately, americans want someone who is effective and forceful and they got that in donald trump. thank god for him. stuart: do you think americans are listening? i see the polls moving more and more in his favor, gradually in his favor. you think america is listening to that letter and the rhetoric from the democrats on impeachment? >> i doubt the average american sits down and reads the six-page letter but a lot of them will understand that he is punching back with both fists. they do appreciate that.

got to remember that this impeachment is not just about donald trump. this is a punch in the face to every person who voted for him. but these are the elites, the academics, the swells who sit around sipping wine at a georgetown cocktail party talking about how de mroshl tple rest of the country is and we just don't get it. the contempt that's been held against working class people across the country has caught up with the elites. now those folks whose noses are so high in the air that a good rain will drown them will have to realize people have awakened and no more of this nonsense. that's why i think donald trump will be re-elected in a landslide. stuart: you come up with some of the best one-liners. what was that, with their noses in the air they get drowned in a good rainstorm? that was pretty good. i never heard that before in my life. come back soon, okay? >> thanks. take care, stuart. merry christmas. stuart: merry christmas. we have talked about fed ex a

lot this morning. losing a little in the delivery wars with amazon. well, one investment firm has just downgraded fed ex to perform instead of outperform. that's a minor league downgrade but it's a downgrade. the stock is down 7%. mega-merger, two auto giants, chrysler and peugeot getting together. that would be fiat chrysler getting together with peugeot. $50 billion deal. the boards okayed it. there you have it. tesla are thinking about cutting prices on the china-built model 3 next year. that's done the stock some good. it's up another near three bucks, $381 on tesla. ford, important story here, they are adding 3,000 jobs in the detroit, michigan area. plowing $1.45 billion into new trucks, suvs as well as electric and autonomous vehicles. the money goes to michigan, battleground state.

the president is there tonight. look at the stock price of tyson. it is the biggest chicken producer in the world. they have the okay to ship more of our poultry to china. susan? susan: big deal. first time in nearly five years tyson will be able to do this. it looks like they have paved the way for a billion dollars in chicken sales to china. that means that they will basically have to export from all 36 of its u.s. plants starting in early next year. so this is bullish for tyson foods, up some 72% over the past year, the stock is up 72%. analysts are pretty bullish on this with 12 out of 14 saying buy the stock. stuart: that china trade deal phase one did have a rather immediate impact. susan: yes, it did. stuart: chicken, a billion dollars. susan: after five years, yes. stuart: it's wednesday, impeachment day and we are going up some more. record highs across the board. more records today and yes, it's impeachment day.

incredible. today the president will be impeached. speaker pelosi has the votes. it's entirely partisan. the polls are already moving against removing president trump from office. we are all over it. we will be back. [grunting] [maniacal laughter] gold. gold! right, uh...thank you, for that, bob. but i think it's time we go with gbtc. it's bitcoin exposure through a traditional investment account. nice rock. it's time to drop gold. go digital. go grayscale. the doctor's office might mejust for a shot.o but why go back there when you can stay home with neulasta® onpro? strong chemo can put you at risk of serious infection. in a key study neulasta® reduced the risk of infection from 17% to 1%

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stuart: i really do find this remarkable. the markets are going up even though this is impeachment day. the president will be impeached today. some big names driving this market in this calendar year. start with microsoft. would you believe that thing is up 52% just this calendar year. i'm happy. i've got a little of it. look at apple. even more astonishing, it's up 77% this calendar year. record highs. chip maker nvidia, that's up 71%. there you go, there's nvidia. 71% up this year. tiffany, 66% higher. this is extraordinary stuff. susan, ash, look, i have been doing this a lot longer than you guys. i can't remember a time when i have seen such huge companies have their stock run up so much in a limited period of time. susan: there's also a certain handful of stocks that have gone most of the money this year. look at microsoft and apple, two of these technology names that continue to give back money,

buy-backs as well has pushed up the stock. we know apple has bought about $100 billion worth of their own stock but they're growth names as well. stuart: tiffany is not a huge company -- susan: buy-out. stuart: it was way up before the buy-out deal. ashley: from an investor's point of view, look around the world, where else you going to put your money? looking at the european yields on treasury bonds, they are still in the negative in germany, in japan. you are looking for yield. that's what you want. you want to make money on your investment. u.s. stock market continues to be a tremendous place to put your money. stuart: american technology companies continue to be juggernauts. ashley: you can't bet against them at this point. susan: look, december last year was dismal. we lost about 10% in just one month's time. so heading into this year, there was a lot of pent-up demand as well. money has come out of safe havens. gold is down $85. silver is down 15% this year. so people are getting more bullish and i guess risky with the fed on your side.

stuart: let's just watch out for january and february, shall we? because a december to remember could give an ugly january. not saying that's going to happen, just saying watch out. it's happened in the past. there you have it. we will be up at the opening bell. 30 points up for the dow. four for the s&p. look at that nasdaq, up another 11 points. we will take you to wall street, open this market with you, after this. so what are you working on? >>i'm searching for info on options trading, and look, it feels like i'm just wasting time. wasted time is wasted opportunity. >>exactly. that's why td ameritrade designed a first-of-its-kind, personalized education center. see, you just >>oh, this is easy. yeah, and that's >>oh, just what i need. courses on options trading, webcasts, tutorials. yeah. their award-winning content is tailored to fit your investing goals and interests.

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stuart: now we're about to open this market. this is impeachment day. joining us for this special coverage, shah gilani, who has been right for a couple of years. we give the man kudos. susan li, who never knows the beatles songs. ashley webster, fresh back from britain and the defeat of socialism. it's going to be quite a day. shah, i will give you kudos. you have been here for two years, day in, day out. you have always said the market's going up and you have been right consistently. are we going up some more? >> we are going up. i think a lot more. i think for a few weeks, [ inaudible ] 10% ahead of us. doesn't mean we won't have bumps here and there. there may be some here and there, maybe the first quarter, maybe not, but 10% at least ahead of us. stuart: 10%. >> all the fundamentals are in

place. the technicals for the markets are good, all the markets, all the major benchmarks. fundamentals in terms of the economy, in terms of money coming into the market. blue sky. stuart: i've got some doubts about january and february. >> why? stuart: because i remember the big runup in 1999 and the selloff in january, february and march as it was. anyway, we will get to that in a second. we just opened up tand the markt has opened on the upside. left-hand side of the screen, you can see the dow 30. for the benefit of our radio listeners, more than half of the 30 are in the green. they are up. and the dow has opened with a 30-point gain. right there at 28,300. as for the s&p 500, that too is slightly higher. the same percentage amoun amount, .10%. the nasdaq, here's where we figure out what's going on with the techs, 8,836, up another 12 points for the nasdaq. show me apple, please. record territory or close to it. okay. $280 a share.

got more on that in a second. here's the big loser of the morning. that is fed ex. they have opened for trading, they are down $11. that's nearly 7% on the downside. full story about that in just a moment. all right. let's get to it. i don't want to -- well, all right. am i going to do fed ex? am i going to start with a loser? >> it's top of the news. stuart: i'm contradicting myself. i don't want to start with a loser but i'm going to do it anyway. okay, okay, okay. amazon, look, fed ex is feeling the amazon effect. right? >> yes. absolutely. i don't particularly like the stock here. i think it's got a lot more to go on the downside. stuart: really? >> yeah. i think it will test its lows and break the lows and test five-year lows. it's gotten over $32 billion in debt. it's got 1.59% dividend, they pay over $616 million a year for that dividend. they are borrowing to pay the dividend. it's not a pretty picture. ashley: no. stuart: got any more on that? susan: they cut their earnings

target for the fourth time in one year. yes, amazon contract was worth around $900 million for fed ex. morgan stanley says that by the year 2022 which isn't that far away, amazon will deliver 6.5 billion packages, more than ups, more than fed ex as well. stuart: it is the holiday season. we've got to talk delivery. amazon right now is winning hands-down, it seems to me. susan: can i also note it's a proxy for global trade as well. stuart: yes. susan: these delivery companies. when you have a trade war that usually impacts the delivery of packages. stuart: on this impeachment day we have opened higher and are beginning to climb a little bit more. dow is up 37 points. apple, i find this news extraordinary. the airpod, the ear buds, i don't know what to call them, are sold out nearly everywhere online. shah, did you know that if you look at apple wearables, that's these bud things, and the watches, the revenue from their wearables makes apple, the wearables division, a fortune

200 company. did you know that? >> i had no idea. that's fantastic news because i own apple. we love apple. stuart: oh, you do. >> frankly, i wouldn't even mind adding here, as high as it is, approaching all-time highs. this company keeps hitting it out of the park because of management, because of all the product areas they're in. this company, the handful of companies i love because of the management. this is certainly one of them. susan: look, wearables are also growing, by the way, by 50% each and every quarter. 50% for a fortune 200 sales company and we are expecting to see about 65 million of these airpods shipped this year. 90 million next year. if they make around $77 million in, phone sales, couple that, this is a company that's showing you they continue to be a hardware device maker as well. stuart: amazing. here's another amazing company. that is microsoft. can we show microsoft, please? i know i'm grinding my own axe here because i do own some of it, and i have done remarkably well with it. but it's got to be the stock of the decade.

>> cloud computing has been tremendous for microsoft. >> management, management, management. when nadela took over i plowed into the stock. i was waiting for a long time. i owned some but wasn't enamored with ballmer's stewardship of the company. nadela is hitting it out of the park. he will continue to do it. they are generating a ton of cash. the products they are in are commanding. they will surpass or at least equal amazon in the cloud if not surpass them. they've got a ways to go. susan: a long way to go. they only have 15% market share. amazon's cloud business is over 50%. >> plenty of room to move. stuart: microsoft's share of cloud is going up. amazon's share of cloud is actually stable to slightly down. look at that chart. look at that. i am pleased to say i own that stock. goodness me. all right. now complete change of scene for a second. wea we have to talk "star wars." new episode of the mandalorian

today. it includes a sneak peek at "star wars, the rise of skywalker" which opens friday. what do you think, disney's recession-proof and -- >> absolutely. it's one of those companies you have to own because management is absolutely perfect. it hits it -- bob iger is the best in the business, bar none. this company, the management of this company is superb. everything that they do, the portfolio of businesses that they own in terms of just the content alone is staggering, plus they have so much going on. this is another perfect example of what a brilliant management move is. instead of bringing out mandalorian friday, they bring it out on wednesday to get people into the theaters on friday, to actually see it. stuart: smart move. susan? susan: that's exactly it. if you actually tune into the mandalorian tonight, you actually get a sneak peek into the rise of skywalker. you get the easter eggs, these hints and jokes that the "star wars" fans usually get. the mandalorian already priced in for a second season because

of the cult success of a little creature called baby yoda. stuart: crank up ash's mic. he just snored through that. go. go. susan: talk about "rise of skywalker" which is set to open on thursday. opening weekend expected to be close to $200 million. mixed reviews so far. take a look at the fan, yeah, that's a great look at the movie. take a look at the fan reviews so far, it's just, you know -- stuart: what's that? susan: wow, wow, wow. stuart: just got done watching and all i can say is wow, wow, wow. it pays homage to all the films and does a great job of wrapping up this epic story. phenomenal in every -- okay. susan: ninth and final installment. stuart: we spend far too much time on this stuff. disney, fine, spend time on it. all good. microsoft, amazon, apple, got it. but skywalker? susan: you will make another billion dollars at the box office. seven films over a billion.

stuart: hulu, their price increase goes into effect today. ashley: today. stuart: we reported that yesterday. so what? ashley: it's now the most expensive because it's happening today, stu. the producers are -- stuart: that's interesting. thank you, shah. that's what makes this interesting. >> very interesting. stuart: hulu raises prices today and the others can raise prices in the future. [ speaking simultaneously ] >> just gives them room to move up. ashley: like the airlines, suddenly one raises fares, they all doch all do. susan: you have the basic hulu starting at ten bucks or something below that. stuart: this is impeachment day. the market has opened higher. pay special attention to the big techs, because most of them are going straight up. right now we are up 35, 38 points. we are above 28,300 on this impeachment day. which stock will you buy

today? >> oh, gosh. today, i'm not buying anything today. i loaded up in this rally. i added to a bunch of positions. i'm very happy with where i am right now. i'm just waiting to see how the year ends. stuart: "varney & company" has been very good to you, hasn't it? >> you have been very good to me. because of you, i bought a lot more microsoft. susan: oh, wow. >> our discussions over the years, i love microsoft, but i know -- we talked about it a lot. it gets me excited about it and the deeper i am into what's going on there, the more i buy. susan: after the clinton impeachment in the late 1990s, the stock market rallied 39% in the year afterwards. for nixon, though, the s&p actually went down. stuart: that was the rotten 1970s. that was the oil embargo and the rest of it. stocks went up 39% in the one year after the impeachment of bill clinton. >> the simple takeaway is markets continue to do what they are doing. during the nixon administration, the market was going down, it continued to go down. during the clinton

administration, the market was going up, it continued to go up. i think here we will see it continue to go up. stuart: shah gilani, thank you very much indeed for a fine performance over the last many, many years. good man. good stuff indeed. okay. check the big board again. we are up 39 points, 28,300. who would have thought. now, remember this? adam schiff shouted down or heckled at the very least by voters in beverly hills. they are calling him a liar. again, in beverly hills. california voters going to flip? are they? i can't believe california voters will turn to conservatives but i will ask that question. the president is holding a big rally in michigan tonight. outside that rally will be vaping protesters. they are not happy with the president's proposed ban on vaping. we will take you there next hour. happening in our 11:00 hour, we have the guy who led syracuse university to basketball victory. first round draft pick for the new york knicks. today he's working to inspire kids to live a better life.

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plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity. stuart: i want to hear about that. we are up 44 points for the dow, climbing ever so gradually on impeachment day. the s&p has just hit an all-time high. the nasdaq hit an all-time high just a few minutes before that. it's an up market all over again. facebook's hiring fact checkers. i guess to try at the very least to root out fake news. tough job. susan: yes. and contradicting information as well. this is a pilot program, a community-based pilot program where they will be partner iing. this will be testd in the u.s.

over the coming months. they will basically check whether or not each piece of information that is posted within a community is right or wrong, and whether there's bias involved because we have had conservative groups saying social media companies do lean left and silence their conservative voices. also, at a time when they are still trying to rebuild from shall we say the brand -- i guess the brand -- stuart: bad p.r.? susan: bad p.r. trying to think of -- stuart: bad image problem? it does have an image problem. susan: from cambridge analytica. they are still trying to come back from that, make sure the information is correct. stuart: stock is at $202 a share. cvs and one of its business units sued by the feds. i believe this is medicaid fraud. ashley: medicare fraud. what it is, it's involving elderly and disabled, essentially when these prescriptions ran out, the feds accuse cvs and their contractor omnicare of going ahead and re-upping the prescription without a doctor's permission.

they say this put their lives at risk. omnicare says no, we followed standard practices. it will end up in court. stuart: no reaction on the stock price whatsoever. all right. i have a couple stories here, couple of stocks i want to follow closely. first -- wait a minute. a market check with gerri willis at the new york stock exchange, on this impeachment day. what are they saying down there? gerri: so look, the markets are doing great despite impeachment. i have to tell you, i talked to the traders about this every single day and they just don't care. they think it's all going to die in the senate. they actually see trump elected to a second term. that's what's baked into these markets and why they just keep going up, up, up. let me tell you what would kill this market. take a look at this chart. i think you got it. it compares the chances of elizabeth warren winning the democratic nomination and ultimately being the president to the s&p 500. it's a massive cross, to the degree she has success it's bad for the s&p 500.

stuart: that's very interesting. this is impeachment day after all and the election is coming soon. thank you very much indeed. i want to take a look at a couple of stocks here. i want to first of all, boeing, $330 a share. ivan feinseth is back with us. he follows boeing. would you buy it? has it bottomed? >> you know how they say on wall street you are supposed to buy on bad news? this is very bad news. this news is so bad, it's actually good. stuart: because it hit the bottom. >> what they have done in the halt of production is now, this is not just a boeing problem. this is an economic and travel industry and government problem. the cut in production caused yesterday a number of economists to reduce their first quarter gdp growth rate. the reverberations, this has been dragging on for ten months. stuart: why do you buy the stock -- >> because now i think this halt is saying hey, the government now has to get involved in

helping us, because the stagnation of this plane not being in the air has hurt the airline industry in the sense that it caused a lot of canceled flights. however, the one lucky thing for the airline industry is the economy is so strong and the consumer has been spending so much on travel, it's caused a huge increase in ticket prices. luckily, the industry is capacity-constrained and needs these planes. that's why boeing has experienced really no loss of orders. i mean, it has benefited airbus. airbus has picked up a lot of orders which is not good for the economy and the country, and so i mean, i have said that trump gets easily re-elected if the economy and the markets are strong. he is going to need this. he's going to say the government's going to have to try to help them. now, i know that the faa has no motivation to rush this, because god forbid there was another crash. however, this is -- stuart: but interesting market play. all other big companies, most of them, have gone straight up but boeing has gone straight down,

and maybe it's a bottom and a play for next year. >> yes. it is a big employer, one of the u.s.'s biggest exporters. stuart: okay. netflix says most of its subscriber growth is going to come from overseas. netflix this morning has moved up again, $318. but i think you believe, netflix is a streaming company, grandfather of streaming, really, but you think disney also on the screen, you think that's the big winner in streaming? >> i still say disney out-netflix, netflix. disney plus, just a powerful service, and the halo effect that disney has to disney plus and disney plus has to disney, i mean, in march, disney plus is launching in france, which disney already has a disney park there. so disney is a global company, and already, i mean, the mandalorian has been a hit show. i have been waiting to see that for, i mean, since it was announced in april. and it's a phenomenal show. there is so much great content. they have the rise of skywalker coming tomorrow, friday.

that will continue to -- which will be on disney plus, all the "star wars" movies are on disney plus, other shows, they have another one coming out and after the mandalorian they have a show about -- stuart: you got me, you got me, you got me. you like disney. you like netflix. it's gone up to $319. i'm sorry. you like boeing at $330. >> i like boeing. i like the netflix service but not the stock. stuart: got it. ivan, good stuff. thank you for joining us as always. thank you. check that market. we are up just 20 points now. there are actually more losers among the dow 30 than there are winners. we are losing that gain that we had at the opening bell. on your screens, i believe we've got it, there you go, that is the new dinner, a popular holiday drink. the president of bacardi rum is on the show, next. wonder if he's got samples.

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i don't know the words to this. ground control to major tom. that's david bowie. why we playing that? last july was the 50th anniversary of the apollo 11 moon landing. i got that. we have with us the only pure play for investing in space. our guest runs an etf called ufo. our guest's name is andrew cheney. is that correct? thank you very much indeed. let's get serious. how is your pure play in space etf done since you launched it? >> it's been relatively flat since inception but has paid out dividends for shareholders. stuart: i'm not too keen on that. i want my stuff to go up. why hasn't it gone up? >> tracking the space industry, we have seen some volatility throughout this year, some various changing rules with 5g spectrum options and whatnot has affected some satellite companies. but it's been an up and down year. flat's okay. stuart: but you are the only

pure play space investment, i think. >> as far as an etf, yes. stuart: etf, you get them all together. what are your three main holdings? >> it's always changing but maxar is one of the top holdings now. satellite manufacturing, operations. it's very heavily satellite. stuart: on the screen. so dish network, that's one of your big holdings. >> yep. stuart: all-com, what's that? >> satellite company. stuart: okay. so if i want to invest in space, i mean, i'm an elderly kind of guy but i think i've got a future on this earth, i can invest, ufo, the etf of space? >> over 30 companies from around the world specializing in various areas within the space economy. stuart: good luck. thanks for coming in today. ufo. got it right. pure play in space. that's the big deal. thank you, sir. >> thank you. stuart: just in time for the

holidays, a spirit maker that would be bacardi has released a ready-made version of coquito or what is sometimes called eggnog. it's on the screen right now. ned duggan is the president of bacardi rums. i thought that was a home-made drink in latin communities at the holiday time. somebody would brew up a whole bunch of bottles and distribute them in the neighborhood. >> well, that's exactly right. here in the u.s., we have eggnog in the caribbean, in the islands, they have coquito and generations of people will pass down coquito recipes from generation to generation. they are very proud of it. stuart: you are commercializing it. cultural appropriation, young man. >> this is our culture. bacardi is proudly made. we wanted to bring this holiday drink to the u.s. to share it here with americans. stuart: so it's bacardi rum and coconut milk. >> also some spices in there.

so we've got vanilla, cinnamon and clove. that's how people will customize their coquito recipes. people are fiercely proud. there are coquito competitions throughout the islands. we had one here in new york a few days ago. stuart: how much for a bottle? >> they are selling for $19.99. they are only available in six states. they are going fast. they are almost sold out. stuart: why doesn't bacardi ever want to go public? >> it's the largest family-owned spirits company. we have been around since 1862. we are actually one of the oldest brands. the family is fiercely proud of keeping the company private and we intend to be private for a long time. stuart: ned duggan, bacardi and coquito. leave that there. you got it. ashley's got that. thanks very much indeed. appreciate it. look at this. 31% of voters say they have a favorable view of socialism. what? my take on that, coming up top

of the hour. big day for politics, money, impeachment, and yes, a big day for america. we'll be right back. . . 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.

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nice rock. it's time to drop gold. go digital. go grayscale. stuart: precisely 10:00 here in new york city. we got two big events going on today. first of all, on capitol hill, the house formally debating impeachment. the vote could come early this evening the house democrats do have the votes. he will be impeached. just a couple of waiverrers who will vote no but just a couple. on the market, records across the board. look at this, the dow, s&p, nasdaq all at record highs on this impeachment day. how about that? now this. if you want any further proof that socialism has taken over the democrat party look no further than the latest "fox news poll." incredible. 31% have a favorable view.

that is up six point from february. 53% have an favorable view. that is down six points. socialism is gaining ground. that is incredible. i have a particularly strong dislike in socialism because i believe it ruined the country of my birth. socialist england in the 1970s was a rotten place to live. the government ran everything and ran it badly. i can only conclude those who support it have no clue what is really like to live in a socialist society. right now we have widespread prosperity. the result of mr. trump's capitalist policies. if we have senator war enor senator sanders policies in place we would not be prosperous. we would be in serious recession. remember warren's, you didn't build that comment? she wants all big companies to ask the government's permission to do business. she wants the government to confiscate your money if she thinks you got too much.

draconian ideas which would have a draconian negative impact on us. bernie sanders, "green new deal," get into electric car, end fossil fuels, tax hikes for all. that is green socialism. and this has taken over the democrat party, how is that possible? well, i've seen it before. in the early '70s i watched the left take over british politics. they did it with a class warfare. they played the jealousy card. they played the fairness card. you have got more money than me. that is not fair. we're taking it off you. precisely the same thing here. the socialists bring up income inequality at every turn, it is always the same. take it off the rich. we'll all be better off. that's big lie. legalized theft does not help anyone. it just sends your society into a tailspin. now i don't believe the democrats will nominate either senator warren or sanders as their presidential candidate.

maybe i'm naive but i don't think they will jump entirely into the socialist fire but i would like to see their ideas rejected. this country is a beacon of capitalist dynamism and prosperity. don't let the socialists ruin it, please. the second hour of "varney & company" is about to begin. ♪ stuart: well look who is here, ideally suited to comment on my little rant there. this is dennis gartman, editor and ceo of gartman letter which i believe you're retiring? >> i'm retiring at the end of this month after 35 years of writing the newsletter. every day for 35 years i've gotten up at 1:00 in the morning written something on entire look at the capital markets. i speak to the energy traders who don't talk to the grain traders who don't talk to the foreign exchange traders. i've been liberal arts major of

markets and time to call it quits. stuart: what do you think of my rant on socialism there? answer me this, why young people in america, this year, what is going on? >> there is the old saying if you're not a socialist below 25 you have no heart. if you're not a capitalist at the age of 35 you have no money. that is what happened. when i was in college in 1970s, everybody was a communist or socialist. students for democratic society was rapidly rising political movement. thankfully that dies when you become 25 or 35, or 40 when you have a few bucks. we shouldn't be surprising. still surprising. stuart: i think media has something to do with this. >> not a question. stuart: and campus professors. >> if we have a problem in the united states, that the universities have been taken over by the left. remnants of 1970s are still there. that is real problem. it will take a generational change to get that to stop. stuart: i don't think the democrats will nominate a socialist, what say you? >> they won't. they're smart enough.

fathers of the party understand they cannot nominate warren, they cannot nominate sanders. it will happen. my bet is eventual nominee is not announced i think somebody different. stuart: complete outsider? >> the way they're counting vote this year going into the primaries it is not winner-take-all, it's a winner take some. so votes will be completely diverse. very possible nobody will go into the convention with a victory. wouldn't be surprised. i know this sounds odd i wouldn't be surprised if it isn't michelle obama. stuart: very interesting guest in the a block of our 10:00 hour. first another poll. here it is good news for the president i would say. in head-to-head matchups with all his democratic challengers he comes out ahead. this is the suffolk survey by the way. his slimmest margin of win,

against joe biden but holding larger leads against senator warren, senator sanders, rest of the field. trump in frontphilanthropy wegmann, "real clear politics" white house reporter. that is a poll about the forthcoming election. you studied the polls about the current impeachment. am i right in saying that sentiment is moving toward the president on the impeachment issue? >> you are right. so the poll that you mentioned earlier, that's the one you want to be on the top of president trump's desk if you're white house staffer. obviously that is just one poll. the election is far away but if you look at "real clear politics" average you see majority of americans by 1% across the board, they oppose impeachment. if you peel back that a little more, you look just at independents, you see that they oppose impeachment by about 6 points. that is very significant because it is going to be those independents who turn the election come 2020. stuart: now i'm sure you've seen this, senator warren, backing away from her full support of

"medicare for all," she is now calling for, i think it's a transitional period where we make the switch after her first term. why is, why is she doing that reversal? >> so that transitional period is definitely transition for her, she is just now rolling this out. this shows us two things. first shows that it its going to be difficult for her to compete for the far left lane with bernie sanders who is currently in second place. when he is talking about "medicare for all," he is willing to say it is going to go require increase in middle class taxes. that is not something she has been willing to do so far but i think the second bigger thing this shows is elizabeth warren sees that joe biden is still in first place with his centrist pitch, and her closest competitor right now, south bend, indiana mayor pete buttigieg he is gaining on her with his send trip. she is trying to moderate to stay competitive. stuart: could be socialists are

in mild retreat what do you think, phil? >> i think with we've seen since 2016 bernie sanders and elizabeth warren they have remade the democratic party in their image. they have definitely pushed the part to the left. even if they don't win, ideas like "medicare for all," free college and 15-dollar minimum wage, those will be ideas that the democratic party will be obligated to run on or to try to implement. stuart: oh, dear, phil, thanks for joining us. see you again soon. >> thank you. stuart: check markets. markets are higher pretty much across the board. dow, s&p, nasdaq, we set record highs across the board. general mills reported this morning. gerri willis at the exchange, come in please because they're big on pet food sales now? >> you better believe it. they bought blue buffalo pet foods for $8 billion. high expectations. it is paying off. sales in the unit up 16% in the quarter they reported.

blew out the report. profits beat by eight cents a share. seven penny as share. good quarter. general mills is old school. they are 163 years old. they have betky crocker, pillsbury, cheerios. look you can teach an old dog new tricks, stuart. stuart: are you referring to me as an old dog? >> i would never do that, never, no. stuart: i would never take offense. do it any day you like. merry christmas to one and all. dennis gartman still with us. he likes to hang around the studio, doesn't he? >> you guys let anybody on, won't you? stuart: not everybody. but most of the people we've had on this program recently said yeah, we have a really phenomenal bull run at end of this year, it goes into next year. what does dennis gartman say? >> i have doubted the veracity of the bull market for a while but we're at the point we're moving pair billion i cannily. stuart: what does that mean?

parabolically. >> you brits know that i thought you had good educations over there. those short in uncomfortable position. those underinvested find themselves in uncomfortable position. after a stock operator said after all it's a bull market. it want to go higher. trend from lower left, upper right. mark this down, it will stop when it stops and won't stop until it does. that is what i learned 40 years. stuart: you were there in late 1999. the market went straight up. by march is was coming straight down. could the same thing happen here. >> there eventually will happen here. there is a bear market, you will go down 20, 25% when it happens t will happen because of a geopolitical circumstance that prevails or fed makes a mistake. it will happen, will it happen in the next six weeks? likely not. will it happen in the next several months, likely not? will it happen after the election? if i had to make a bet, that is

what i will make a bet. stuart: have fun in your retirement. >> i will do a biweekly and have a podcast. i will quit getting up at 1:00 in the morning. stuart: come see us soon. history may being made on capitol hill. the house is debating impeachment. the debate is way. we're watching that for you. we have a phase one china trade deal later this hour we have a guest who is not sold on it. china watcher gordon chang on the show later. illegal immigrants in new york state lining up for driver's licenses after new law. county clerk from new york, in my opinion this is all about illegal voting. we'll be right back. i'm your mother in law.

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stuart: impeachment day, the market is up. the dow up 24 points now, just shy of 28,300. boeing, there are concerns that the shutdown or the temporary production halt of the max jet will ripple out through the aerospace industry. nonetheless, boeing bounced off the low of yesterday, 321. our guest earlier this morning said buy that thing because it's going up in the new year. it is up four bucks right now. google, one of its workers claims she was fired for work placeorg sizing. what is this about, ashe? ashley: this is five since the last three months. she had only been at the company for nine months. 21-year-old katherine spires. what she did, created code, every time someone visited a website, all within google that was known to be anti-union, it

would pop up on everyone's screen. in other words, it was a violation according to google of the conduct expected by google people. she is one of these people, says no, we have a right. we can organize. we can think about unions. this was unfair labor practice. she is challenging it as are the other four but google was supposed to be the happiest place on earth along with disney as far as employees go. we have everything from you know, the executive that was given a big payoff after a sexual assault charge. they don't like the fact that google helps i.c.e. there is lot of contentious issues. here is another one. stuart: trouble in paradise. ashley: yes indeed. stuart: we'll show you video, illegal immigrants lining up for hours to get driver's licenses in new york state. it is legal for them to do that. frank morola is with us. county clerk in new york state. welcome to the program.

great to see you, sir. >> thanks for having me. stuart: let me boil this down. here is how i see this, i think the whole move to get illegals with legal driver's licenses is a backdoor to illegal voting. what do you say? >> i said that exact same thing in 2007 when spits spit -- elliot spitzer tried to do it. it has nothing to do with driving t has all to do with voting. license they will relief look identical to license you hold today. stuart: you have to register to vote if you want to vote. when you register you have got to say i'm a citizen. you have got to prove it. the drivers license will not do that for it, will it? >> to answer the question, they are citizen but i'm assuming here illegally. no problem to do one other thing to say they're registering to vote. the nine digit number allows them to register any day of the week. stuart: you can vote, if you prepared to do one more lie,

correct? >> that's all you need to do. that is it what we're trying to discourage people from doing now. registering to vote at the window or we're told that we're not allowed to say anything. if someone wants to register to vote whether here illegally or not, you know they're here illegally you're not allowed to say anything. they will to through with the process. get registered to go vote. when it gets to the board of election they wouldn't know difference between someone here illegally and someone not here illegally. stuart: how many other county clerks around new york state feel same as you. >> the majority of county clerks are discouraged by it. they don't want to do it. we're stuck it's a law. we filed a motion to reargue at one point with the judge. the judges did come back to say this is no indication the law is valid. even the department of justice has joined in with us. now we're hoping that the department of justice will pick up where we're leaving off. so we're hoping that is going to happen now. stuart: frank, thanks for joining us, sir. we appreciate your efforts here. come back to see us soon.

>> thank you. stuart: got it. total change of subject. new airpods from apple. they are a major hit. good luck finding any for christmas. they're sold out, earned they, christmas? susan: airpod pros, once noise canceling. they have been sold out since november. good luck finding them under the tree. if you can that is a pretty good present. they have been sold out at apple, best buy, walmart, target. amazon. you have to pay $100 more if desperately need them on ebay, the online auctioneer. there are limited supplies. there is walmart in new jersey that you can head to. stuart: carney, new jersey. susan: has a few pods left. stuart: i wonder if we get any complaint from carney of traffic jams because of what you said? susan: this is 24 billion-dollar business for apple, wearables. airpods expected to sell

60 million this year, 90 million next year according wedbush. lower based model. $249 a pop already sold out since november. growth rate above 50% last quarter continues to grow. stuart: analyst comes up later in the show who has a very bullish call on apple. target price above where it is now. stay tuned for that. next, we'll bring you number three in that list of states with the best economic outlook. got a couple clues for you. before we tell you which state. this state grows the most sunflowers. it is illegal to serve beer and pretzels at the same time in this state. and this state has more registered vehicles than it does residents. pretty good clues i would say. can you figure out which state we're talking about? we'll of course tell you, after this. ♪.

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yes! with comfort and joy so, you can really promise better sleep? not promise... prove. don't miss the final days. 0% interest for 48 months on all smart beds. ends tuesday. stuart: we're still but only just 19 points up for the dow. one for the s&p. seven for the nasdaq. but it is impeachment day. we're up. before the break i asked which states grows the most sunflowers, does not allow beer and pretzels to be served together and has more cars than registered residents? the answer is, north dakota. the state is number three on the list of states with the best economic outlook. this is a series we're doing all week. number three, north dakota. lauren simonetti is here. why, what is so good about north dakota they're number three? >> they have a lot of jobs. in fact, oil, mining, manufacturing, even drone technology. they have a waiver from the faa

to test beyond the line of sight drones. this all brought in workers. now they're having trouble finding people to fill those jobs. 3,000 job openings, second lowest unemployment rate in the u.s. so -- stuart: have you ever been in north dakota? >> minot, north dakota to the bakken shale area. stuart: that is why they are big on drones. it is dead flat, there is virtually no people there. you let your drone fly all over the place. >> but the population has grown for the past 10 years. when the company went into recession they started fracking. so they never really experienced the recession. quite the opposite. they encourage businesses by physical jobs, workers' compensation is not too expensive for businesses there. minimum wage, same as federal minimum wage, 7.25 an hour. if you live there, want to move to bismarck or minot, the top tax rate is 2.9%. that is low. stuart: that is the state income tax rate.

>> state income tax rate. stuart: top rate of 2.9%. >> 1.1 to 2.9%. affordable. stuart: rather different from california i would say. >> much different. their competition is colorado or minnesota. that is where the workers leave, where they go. stuart: thank you, lauren. north dakota's governor he is on the show later. he will tell us about his number three state. big day in history today. the house is now debating impeachment. late this afternoon, early evening they will vote on it. you better believe we're all over this. by the way we're watching that debate so you don't have to. we'll be back. ♪. most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner.

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♪. stuart: yeah. i'm not sure i'm going to sing along with this one. our producer thinks this is one of the best beatles songs. i'm not quite sure about that. you can't dance to this, can you? ashley: down below his knees. stuart: hair down below his knees. [buzzer] we didn't like that one. former prime minister tony blair is speaking out against the labour party leader there, jeremy corbyn who just lost the last election big time. what is blair saying? ashley: that he led a protest. his whole premise of this far, far left, as i said before if you think warren and sanders are to the left, jeremy corbyn is way out there and the former lib dem leader, tony blair, if i'm the lane power party. you were unelectable. a glorified protest movement

that. that is why boris johnson won in 80 seat majority. tony blair gloating a little bit. stuart: totally divided party. ashley: completely have to reinvent themselves. stuart: at the half hour, the big board showing 22 point gain. we got latest news how much oil we have in storage or do we not have it? ashley: we do. drawdown of 1.1 million barrels. a little short what we were expecting so we're using more oil. so we're down a mill barrels. stuart: no impact on the market. we're still at $60 a barrel. that is important. there is goldman sachs, first big bank or investment company, i should say. they will stop funding arctic drilling. they want to protect the arctic national wildlife refuge. they're very conscious of global warming. climate people, basically. alaska's governor mike dunleavy is here in new york city.

how are you. >> well, stuart. stuart: what do you think about goldman sachs, we'll not fund drilling in your state because we're concerned about the climate. >> that sun to the gnat. we do a lot of business with goldman sachs. we'll have to discuss this. stuart: would you ace them out? >> this is all new. we'll have to talk about this in alaska. we're an oil state. the north slope in the '70s, '80s, basically shored up america's production of oil. just other day we pumped over 18 billionth of barrel of oil from that field up there. stuart: but production is going down? >> our production is going down. having, having oil exploration development, for example in anwr would boost production in the pipeline, would help this country, help the state of alaska, help the jobs, keep price of oil reasonable for folks to afford. stuart: are you going to do it? are you going to drill in the act tick national wildlife reserve, will you do it? >> section 10.02 in national wildlife refuge always set aside

for oil exploration with congress. it didn't happen until president trump was able to do that with our delegation. we're focusing on opening up anwr, 65% of alaskans in most recent poll agree opening anwar. it's a good thing for our state, a good thing for our country. stuart: your problem i suspect, we're producing a lot of oil in america. we're energy dominant. because of that we're producing so much we got a glut. the price is having a hard time going above 60, $61 a barrel. that will put people off from new drilling and exploration in alaska, isn't it? your production costs are much higher? >> our production costs are higher but we're a conventional field, not fracking in the lower 48. we don't know what the future will hold of as you explore, invest, that takes time. i would encourage companies, investors to take a hard look. i think in the end i think it would be a good thing for everyone. stuart: you have a vast state. >> big state. stuart: i've been there.

is absolutely gigantic. watch "life below zero"? >> we watch all our alaska shows. stuart: alaska state troopers, watch that as well? >> yes. stuart: are you closer to australia than you are to california? >> no we are closer to california than australia is to california. so far west, and so far east. we're northernmost state. we're just not the southern most state, stuart. stuart: you're absolutely vast. >> we have four time zones. stuart: you used to have? how many do you have? >> two. stuart: is population increasing? >> 730,000 people. stuart: it is stable? >> we lost folk last couple years with issue with oil and jobs. jobs are increasing. unemployment is going down. stuart: i just don't see how you live with a 24 hours of darkness in the middle of winter. >> well, depends where you are in the state, right? 2 1/2 times the size of texas. where you, dependent where you

get the light and how much light. come up in the summer. stuart: how do you handle that? >> i love it. stuart: all dark, all the time. >> you still see some spillover on north slope but the day ended in november on north slope. sun will come up again in february. it will be fun. come up to see us. stuart: i've been in the summertime, 24 hours of daylight. that is hard to get used to. i woke up the 11:30 at night, looked out window, guys in broad daylight working on the hotel fence for heavens's sake. >> yeah. stuart: you work 24/7 in the summer and go to sleep in the winter? >> one long day. it's a working state. folks that live in alaska love alaska. it is spectacular state. it has got some things that no other stay has. i would encourage everyone to visit. stuart: we'll follow up what you do with goldman sachs, not wishing to fund drilling in your state. thanks very much for being with us, governor. >> thanks for having us on. stuart: new york city. >> big one.

a lot of people here. stuart: thank you, governor. check the big board. pretty stable day thus far. up 20 points for the dow. we do have a megamerger in the car business to talk about. chrysler and peugeot getting together. peugeot stock up a fraction, chrysler fiat down a fraction. important news from the car companies. ford adding 3,000 jobs in the detroit area, that is detroit, michigan. plowing $1.4 billion into new trucks, suvs, money goes to michigan. battleground state. the president is there answering impeachment. it will be a big night. now there is this, tesla considering cutting price of cars built in china, when might that happen, susan? susan: second half of next year. we're looking at 2020. they're looking to cut the price by 20%. that would make, model 3,

starting price at 300,000. cut it by 20%, you're saving i don't know 40,000, something like that. you also get state subsidies. government will -- stuart: 300,000 what? >> 300,000 yuan, renminbi. i should have put that into local currency, can you put it into dollars? susan: 50,800. stuart: 20% off, night look at 40,000 bucks. susan: not 35,000 model 3 for everybody. stuart: that's true. susan: china has been doling out basically rebates for customers that buy these electric vehicles. so you get 24,000 renminbi back. stuart: stock is up on this. $6 higher. on a nice run recently. 385, tesla's price this morning. the house did pass a trillion dollar spending bill. it now goes to the senate. in that bill are tax breaks for,

continuing tax breaks. ashley: continuing, excise tax. this is, this tax cut has supposed to expire at the end of this month but in this new spending bill, it will be extended for another year. a lot of small breweries, distilleries, wineries, given a real break because of this tax, breathing a sigh of relief. if not, some operation was face a 400% tax hike finning in january. it has been a big boon to the alcohol industry. they're getting another year's reprieve. stuart: strangely stock prices don't reflect that. anheuser-busch is up. constellation brands giant company is down. boston beer is down. i thought they would move up a little bit. but know, tax breaks continue. phase one of the china trade deal, got it done. china watcher gordon chang is not sold on this thing. he will tell us why in a moment.

california congressman adam schiff shouted down, certainly heckled by voters because of the impeachment circus. will california flip on this issue? i can't believe it. but i will ask former california congressman darrell issa. we'll be back. ♪.

stuart: been like this all morning. modest gain for the dow. record highs for the s&p, and for nasdaq. that is where we are now. that there are green arrows though. how about cigna? new york life agree to buy them. buying more than $6 billion and cigna's stock is up 3% on that. this morning earlier peter navarro was with maria on this network, talking about phase one of the trade deal with china. roll tape please. >> it is $200 billion over four

categories. agriculture services, manufacturing and energy, okay? >> yeah. >> it's $200 billion over the 2017 benchmark over two years. china is having a real problem agriculturally. they will need american farmers to feed their people, particularly with pork and other things that are going on there. so there is plenty, there will be plenty demand for china, if china unleashes as they promised to do. we're also going to sell them a bunch energy, manufactured goods, services. stuart: get that? as china promised to do, okay? gordon chang is with us. he is not sold on the china deal. i guess you don't think that china will follow through? >> well, they haven't followed through on any of the other trade deals we had with them. the problem with this one, stu, essentially we don't have a deal yet but president trump has performed. he has not gone forward with those december 15th tariffs,

and, the chinese were going to buy u.s. ag any way, as peter navarro pointed out china has severe food crisis at home. inflation is 19.1% year on year. pork was up 110.2% year on year. they had to buy u.s. ag in any event. besides they have not made a firm commitment. peter has numbers but they're to the documents in the phase one deal. stuart: you don't think they well follow through, follow through, change their economy, follow through with intellectual property, you don't think they will do it? >> no. xi xinping is taking china back to maoism. i heard your take on socialism. really, really important words. beijing is boeing in the wrong direction. they're not socialist anymore. they're going back to state domination of the economy, totalitarian controls. by the way those totalitarian

controls will choke off economic growth and kill the vibrancy in society. stuart: why is xi xinping doing this? he doesn't have to do this, go back to the days of mao, stalinist society, why he is doing it? >> i don't know what is in his head. he does appear to be a true believer. he believes in a state system, when you're a economist, you as xi xinping has to have absolute control over the communist party. the communist party has to have absolute control over society. that is his core beliefs. stuart: look, senator schumer, phase one deal was announced he said president trump has sold out to china. would you go that far? >> i wouldn't use those words. i would say that president trump took a strong hand and played it weakly. you know, obviously president trump has some political considerations but he could have gotten a lot better deal because, you know, when you look at everything, china really needs the u.s. right now. so we could have gotten better terms. stuart: i would like to update hong kong.

i think beijing has ruined hong kong. give me 10 seconds. am i right? >> certainly have. the economy is falling apart. there is no end to the political crisis. until there is a political solution, there will not be a stable hong kong. stuart: breaks my heart, yours too. susan as well. just a terrible thing. gordon, thank you, sir. appreciate it. >> all right. stuart: michigan, that is where the president heads to night for a big rally as the house formally debates his impeachment. there could be some voting, a vote on impeachment right around the time when we, when the president starts to speak in michigan. i mean that will be quite something. we'll tell you all about it after this. ♪. ( ♪ ) the marilyn monroe collection of fine jewellery.

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stuart: very modest gain for the dow. very modest gain for s&p and nasdaq but gains across the board. happening tonight around 6:00 or seven eastern we believe the house will vote on impeachment. right around the same time, a little later maybe, president trump will be in michigan with a big rally right there in battle creek. kristina partsinevelos joins us now. i'm interested in ford motor

company because i think they have just announced a big expansion in michigan! >> exactly in michigan. perfect timing for the president. they will be adding roughly 3,000 jobs, investing $1.5 billion. the focus on two areas. dearborn, they have a plant there. focus on electric f-150, profit making vehicle a lot of people love. stuart: you can selleck trick ones? >> well, i bill get to that in just a second. they will overhaul another plant in wayne michigan. making bronco sports utility car as ranger pickup. the larger part of this whole story is ford investing roughly $6 billion. this is part of the union uaw contract they signed for four years. the bigger picture, two trends. continuous move away from smaller vehicles. second one investing heavily in electric vehicles. we saw how good tesla is doing. ford, they will make first

hybrid electric f-150 next year. they will bork on fully electric version within a few years. we don't know the exact time frame for that. people are rushing to create their own version. you don't think it would do well. stuart: i don't care whether they put electric stuff or whatever. the my point they're putting money into michigan a battleground state. >> precisely. stuart: manufacturing which is intensely important in the upcoming election. >> 3,000 new jobs. stuart: politics of this are important as mechanics of it. >> this is, has a lot to do with politics especially within the state. talking about dearborn. ford is known there. good they're following through. fiat chrysler is spending a lot of money in michigan. not just them. other car manufacturers are stepping up too. stuart: the president won michigan by .3 of 1% in 2016. this will help. i would have thought this might help him. >> he will most likely bring

that up tonight in his speech. stuart: you think. very likely. kristina, thank you very much indeed. we have edward lawrence. he is on capitol hill. what do you have for us, edward? reporter: literally in the chamber next to where i am they're debating the rule of impeachment right now. the gravity of the situation, this is expected to be just the third time in history that a u.s. president will be impeached by the house of representatives. the last time, almost to the day in 1998 with president bill clinton in a bipartisan vote. this vote expected to be down party lines abuse of power and obstruction of congress. now the republicans this morning tried to get the house adjourned. they tried to have some other delay tactics. it didn't work. the vote appears to move forward as you said. the debate on actual impeachment, looks like it will be sometime in the noon hour is when that debate starts. but when the vote you said later on this evening. stuart: edward, thank you very much indeed. bring in former california

congressman darrell issa. welcome back. i want to put something to you if i may. you're california guy. i'm sure you saw what happened to adam schiff at that meeting in, i think it was around beverly hills in california. the man was shouted down, not completely but some very, very serious opposition to him. are we seeing the beginnings of a republican revitalization in california? is it possible that the anti-impeachment people are gaining some ground in california? >> they are. as you probably know we lost seven seats in the last election, seven republican seats. adam schiff not being one of the endangered ones but what he is seeing in a democrat strong hold area, we're seeing in all seven of those, if you will swing seats. the old congressman ed royce, dana rohrabacher, long time republican are now trending very quickly back because those

people who voted for a democrat thinking they were voting for a moderate democrat, everyone of those seven democrats is likely to vote for impeachment, and thus be seen as knot doing the job they were sent to do. as a matter of fact that is probably the biggest talking point the republican candidates have in this election in california. is, that democrats have done nothing. it has been a year. all they really done try to tear down this president. stuart: i'm in my 70s, darrell. i'm wondering in my lifetime will i see a republican elected to statewide office in california. >> oh, you absolutely will. the reason you will, the reason recall in process for gavin newsom is that ultimately, like massachusetts, california has become a place in which the legislature is so partisan democrat, that you need a check and balance and more and more they're realizing, like massachusetts, that elects more

republicans than democrats, that the guy at the top has to be the opposite party in order to give any balance. one thing about california is, not including immigration from outside of the u.s., california shrunk. california will lose a congressional seat in 2022 for the first time in its history. stuart: whoa. we did not know that. i'm glad you could be with us today, darrell issa. because that is big news as far as i'm concerned. i'm sorry it is so short. but that -- >> very good. stuart: darrell issa, thanks for being here. >> thank you. stuart: here is what else we got for you on this very big day. i have a former new york knicks, syracuse basketball star, john ball last with us, winning national title in 1996. he is working to help youngsters to become champions in life. he is teaching them how to speak publicly. that is interesting. president trump sent a scathing letter to nancy pelosi,

saying the impeachment attempt is a coup. i say that will be tame for with he will say at the rally in michigan tonight. trump unleashed. that is my focus. third hour of "varney". coming up. hey! my focus is on the road, and that's saving me cash with drivewise. who's the dummy now? whoof! whoof! so get allstate where good drivers save 40% for avoiding mayhem, like me. sorry! he's a baby! (siren blaring) police officer: excuse me, sir. sit tight. yep, sit real tight, speedy. cause you've got to call it in, police officer: radio to dispatch... type it up, hey, dispa... (feedback ringing) deal with that, dispatch. write it up, walk it back, police officer: slow down out there. and call hq-again. (sigh) (siren blaring) this isn't working.

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trust aag for the best reverse mortgage solutions. so you can... retire better. stuart: 11:00 eastern right on the button and it is an historic day for our country. two reasons. live look on capitol hill, left-hand side of the screen. they are beginning the formal debate on impeachment. they have been setting up the rules for the debate all morning. the big vote set for late this afternoon or early evening. we'll see. while all of that's going on, look at that also on your screen. the markets. we have seen record highs for the dow jones average and for the s&p, and right now, we are up across the board. now this. the president's mad as hell about impeachment. he sent a letter to speaker pelosi, very strongly worded. it is blistering, angry,

scathing. the president says it's a terrible thing you're doing, but you will have to live with it, not i. impeachment is quote, an illegal partisan attempted coup, he says, and speaker pelosi has brought it forward because your party lost the election in 2016 and you and your party have never recovered, end quote. yes, it's strongly worded but just wait until tonight. right about the time the impeachment vote comes down, the president will address the faithful in battle creek, michigan. his base, thousands of them, will be there. he won't hold back, nor should he. the democrats were out to get him right from the day one of his presidency. why should he hold his fire now? tonight's speech will kick off the post-impeachment trump campaign. the left got what it wanted. now they've got to carry it through to the election, and the president is not going to let them off easy. the impeachment leaders represent coastal elite communities. speaker pelosi, san francisco. adam schiff, los angeles.

and hollywood. and jerry nadler, new york city. the president speaking in michigan will surely take note of that. how many jobs did schiff, nadler and speaker pelosi bring to flyover country? how many? how many jobs did they drive out of new york and california? today will frame the election campaign for 2020. the democrats will tout impeachment as their great defense of civilization. they will strong-arm any waverers to get a narrow partisan and hate-filled impeachment vote. that's all they've got. right before christmas, they have trashed the presidency. tonight, the president will respond. he will be unleashed. just as the democrats bring america and the president down, the president will make a forceful case for four more years. if you were bored with those impeachment hearings, tonight's rally is must-see tv. so is this. the third hour of "varney & company" is about to begin.

stuart: let me get to that letter that the president wrote. it's a scathing letter. wrote it to speaker pelosi. among other claims in it, is she cheapened impeachment. give me the rest of the highlights. ashley: scathing from front to back. we pulled out three quotes. let's begin with the first one. the articles of impeachment introduced by the house judiciary committee are not recognizable under any standard of constitutional theory interpretation or jurisprudence. they include no crimes, no misdemeanors and no offenses whatsoever. there you go. you have cheapened the importance of the very ugly word impeachment. next one. history will judge you harshly as you proceed with this impeachment charade. your legacy will be that of turning the house of representatives from a revered legislative body into a star chamber of partisan persecution. now this. you and your party are desperate

to distract from america's extraordinary economy, incredible jobs boom, record stock market, soaring confidence and flourishing citizens. your party simply cannot compete with our record. stuart: sounds good with a british accent. that really works wonders there. joining us now, house judiciary member and house freedom caucus chair, andy biggs. great to have you on the show today. i think the president will be impeached, but that only means the vote will be for impeachment. it does not mean that he's removed from office. straighten that one out, please. >> yes, that's exactly right. the way the constitution is set up, the house votes on impeachment, then it goes over to the senate for a trial to determine whether he is removed from office. and mitch mcconnell has said that's not going to happen, and so we are here today in basically a political statement by the democrats, and i love the

letter from the president. you got it right. it's very powerful. stuart: anything new this morning? i mean, this has been a debate and they have been talking now for a couple of hours. anything new there? or is it just a regurgitation of the same old, same old? >> it's the same old, same old. the democrats keep saying that -- the fun part about it is, stuart, think about this. these guys have never known who the founders were, they don't want judges who rely on the constitution, they want some kind of amorphous living document but today, everybody is quoting james madison, alexander hamilton, thomas jefferson, benjamin franklin, because somehow, that really gets their point across. i don't know how that gets their point across. but that's the only new thing is this resort to the founders of this country. stuart: i am told that there will be two, maybe three defectors, house democrats who vote no on impeachment. can i take it to the other side

of the aisle. are you guys, the republicans, rock solid against impeachment in the house and against impeachment in the senate? >> rock solid. so i speak for the house. the whip count is solid. it's going to be all republicans, no side will pick up two or three, as you said. i have only talked to my friends in the senate, i admit it's an echo chamber but they tell me they feel it will be rock solid and unanimous against impeachment in the senate as well. stuart: thank you very much for taking time out of an historic day. we appreciate it. hope to see you soon. all right. the stock of the day, why don't we get to that. the market's up overall but look at fed ex. down 10%. look, it's issued a bad profit report and struggling to cheap up with amazon. lauren: and a bad warning on the rest of the year. the stock was at $250 last year

so this is a mighty fall. the ceo basically said this. this has been a year of challenges and changes for us. challenges because we are trying to beef up our ground shipment because air, what we used to do really well, isn't as big anymore for us. the business is coming not from commercial but from you and me, buying stuff on amazon and having it delivered from the warehouse to our front door. that's expensive for us to do. we are trying to get there. also, realizing as they sever ties with amazon, that amazon used to be a customer. now it's a major competitor. stuart: they are a delivery service themselves. lauren: they are competing with amazon. fed ex was $250 last year, it's down 8% this year. ups, their biggest competitor, is up over 20% this year. that just tells the story for you. stuart: fed ex at this moment is very much the loser in the delivery wars. ashley: yes. lauren: business doesn't seem to be getting better any time soon. stuart: what a drop. $16 below. that is the stock of the day. amazon, planning to expand

its cargo business. is this new? ashley: yeah, going into business with someone called sun country airlines, based in minneapolis. it's a very small leisure carrier, as it's described, but it's very seasonal. now amazon has given them a big piece of business, saying we want ten of your 737s to help transport cargo which they will do. they will convert these big planes into cargo carriers. this is just the amazon air unit has continued to grow and grow. as you know, fed ex says it's no longer going to be shipping for amazon, which hurt them back in june. now amazon going on its own way, building up this cargo fleet so it can do more of its own, you know, sending of packages through the air. stuart: next one is apple. always like to keep you in touch with apple because it's just gone straight up. just retreated a fraction from its all-time highs. the big news here is those airpod pros, $248 a pop. ashley: something like that.

stuart: selling like crazy. in fact, they have been sold out since november online, i think. retailers are trying to restock. walmart, target, et cetera, et cetera. we have coming up on the show an apple watcher, dan ives. he thinks the stock is going up from here. significantly. thats interesting. we will have that for you, promise. and this. the president's expected to take the stage in michigan tonight just as the house votes to impeach him. i say his letter to nancy pelosi is just trump revving up his engine and he's going to open up full throttle at the rally. coming up, we have the rnc on that. in the background, i suppose in the background, in the foreground, really, impeachment. our eye is on the house. they are formally debating the articles of impeachment and the market is at record highs. go figure. "varney & company" just heating up.

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stuart: i'm going to show you ford's stock. the stock is not important. what is important is that ford is putting 1.45 billion into two plants, car plants, in the detroit area. detroit, michigan. they are going to create 3,000 new jobs in the next three years. they are building new suvs, electric cars, self-driving cars. it's in michigan. battleground state. key state in the election. manufacturing jobs going to michigan. very important. by the way, the president is in michigan tonight. big rally in battle creek. come on in, please, rnc deputy communications director cassie smedley. tell me he's going to unleash. because i'm sure he is. >> oh, yeah. we think we have seen high energy rallies.

i don't think we have seen anything yet. but this is the view that every american voter deserves to see. if this impeachment vote happens during the rally, you will get a side by side that perfectly illustrates what the democrats have been up to for now over three years, this political vendetta against president trump, versus what president trump has been up to for three years. working for the american people, delivering results for the american people and as you mentioned, what better place than michigan, which is right in the heart of this great american comeback. stuart: i was saying earlier that i think the president's speech tonight might actually frame the presidential election of 2020. it would be, i think, impeachment and socialism versus prosperity and america first. i think he will frame it like that. what do you say? >> i hope you're right. i couldn't have said it better myself. he has the results to back it up and the democrats have nowhere to go because this is proof of everything that they have been trying to do. this is proof that they just hate president trump and fear they can't beat him at the ballot box so they are trying to undo the will of voters now.

this is proof that all of their ideas are just to take more government control over your lives versus president trump, who is out there delivering for the american people and empowering them to have control over their lives. stuart: just hold on for me for a second. i want to go to grady trimble. he's in michigan, close to where the president's speaking. vape shop owners and customers, they are planning to protest at the president's rally. what are they protesting? the vaping industry. what are they protesting? reporter: stuart, they are essentially protesting any vaping flavor ban without more research, and you can see behind me, the message clear as day, we vape, we vote. what they want the president and other lawmakers to see is in states like michigan, swing states, that vape shop owners and vaping customers, they have a voice. here at this specific shop, not far from where the president will be speaking, they sell these e-liquids. this is a flavored one. this would be part of the ban. this is about 90% of their business here. so what they are saying is this isn't pro-trump, this isn't

anti-trump. they just don't want a policy that's going to put them out of business, essentially. it's also important to note what they say is if you don't smoke already, they're not encouraging you to vape. they just want people who smoke to be able to wean off cigarettes with something like this.grady, you will be right there at the protest and at the rally, too. back to cassie. this flavored vaping ban in michigan, does that hurt the president in any way? >> i think what you have with president trump is someone who unlike most politicians, is willing to really dig into an issue, listen to all sides of it and figure out what makes the most sense. yes, he's talked about having concerns about anything that might encourage young people to start vaping or smoking, but he's also understanding to the point he was just making there, this could be a stepping-off point from cigarettes, for example. but he's listening to this all this. he just did a roundtable a couple weeks ago and i think americans have in their president, unlike again, the norm for politicians, someone who is willing to listen and

willing to make a decision that is best for the most americans. stuart: well, we will be watching. i will be watching that rally. i will be glued to it tonight. because i really want to see what this president's got to say. i hope he is unleashed. cassie, always a pleasure. thanks for being with us today. we appreciate that. thank you. still the same old story on the market. it is impeachment day but we are up across the board. the dow actually is now up 45. look at boeing -- look, dow's up, s&p is up, and look at the nasdaq, up .25%. all time high. 8,843. what a day. what was that? okay. have you ever seen anything -- well, yes. i have. late 1999, the nasdaq went straight up, remember the dot-com zoom? straight up. this reminds me a little of that. nasdaq going straight up. just at the end of the show yesterday, lauren, you said

remember 1999 and remember what happened in early 2000, because there was a huge selloff. lauren: the same thing last year. the end of last year was a terrible december and then this year has been fantastic. so very very very bullish calls on the market for 2020 and great, there doesn't seem to be much weakness. you have interest rates that are low, corporate profits that are high, success with the trade war thus far. but sometimes it pays to be a contrarian. stuart: what have you got? ashley: you are completely wrong. stuart: thank you very much. i hope so. ashley: because this has no resemblance to the dot-com, which was built on nothing. i think this has got a far more solid foundation. that's the critical difference. stuart: you are absolutely right on that. ashley: thank you very much. stuart: it's not a repeat performance of 1999-2000. lauren: what would you say to companies that are not profitable? the unicorns who have failed to show investors that they can make money? stuart: i think they are already in trouble. look at uber.

they aren't making money. they're in trouble, below the ipo price. if you're not making money in this market, watch out. ashley: they are not going to collapse the market. stuart: here's your favorite story. the latest episode of disney plus's the mandalorian comes out today, and it has a teaser for the big "star wars" movie that hits theaters friday. disney's dominating the big screen and the small screen. more on that in a moment. ♪ ♪ may your holidays glow bright

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it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: the price to stream hulu live tv goes up today. second tier, comcast, they could be raising their cable prices. ash, isn't this an extraordinary time for a cable operator to raise prices? ashley: this is interesting. they have done it very quietly under the radar but check your bill if you are a comcast customer. they say the cost to broadcast tv, especially live sports, has gone through the roof and of course, they are passing it on to you. limited basic tv service goes up by $5 a month. every tier of internet goes up $3 a month. broadcast tv fees increasing to $14.95 a month.

this is interesting. what are you going to do? they say the cost is tremendous. will this push more people to cut the cord? it will be interesting to see. there again, you mentioned hulu. their live tv platform is going up from $49.99 -- $44.99 to $54.99. stuart: up ten bucks. ashley: yep, for live tv content. it will become the most expensive option on the market right now. now, we had someone on earlier who said that may open the door for others to raise prices. i'm not so sure. it's still very competitive. stuart: sure is. netflix has gone up some more today, $7 higher, that's netflix for you. okay. here's the great so what story. the new episode of the mandalorian on disney plus available today. it includes a sneak preview of "star wars, the rise of skywalker" which opens in theaters on friday. lauren, so what? lauren: so what, about $1 billion so what. okay. disney plus streaming the

mandalorian, episode seven comes out on friday but not this week, because that's when "star wars" comes out on the big screen. the mandalorian is coming out tonight. in it, this is baby yoda. why do you care about "star wars"? because it could be the seventh $1 billion movie by disney in 2019. and they know they are doing so well, they don't want to give you too much. you are taking a "star wars" break until 2022. stuart: are we done with this? lauren: we are. stuart: until tomorrow. apple's new airpods pro, airpod pros, i think properly put, they are really selling well. in fact, apple has been sold out of them for a month. big retailers have been out of stock for some time now as well. coming up, we have apple watcher dan ives with us. last time he was on the show, he said apple's going to $300 a share. it's at $280 now. what's he saying now? any advance on $300? we will find out.

i have got to get to the democrats. we know they are big on socialism but we've got new numbers. 51% of democrats favor socialism over capitalism. can you believe this? they have never lived in a socialist society and that's a fact. i have former wisconsin governor scott walker to talk about that next. ♪ i've always loved seeing what's next. and i'm still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both.

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stuart: we've had two hours' worth of business this wednesday morning and the market's stayed pretty much where it's been for those two hours. that is modestly higher for the dow, the s&p and the nasdaq. yeah, impeachment day, modest gains for stock. pretty good gain for the nasdaq, a quarter percent higher. apple, airpod pros, good luck finding them. sold out pretty much everywhere online. meanwhile, apple's stock keeps on hitting all-time highs. it's a fraction below the high right now, $279.81. dan ives is back with us. welcome back, dan. good to see you. >> great to be here. stuart: last time you were here, you said apple goes to $300 a share. what's your forecast now? >> yeah. i think the only thing in the way was the 15% tariff issue which came away on friday. that black cloud.

i think $325, $350 could be the next step, because fundamentally it comes down right now to a super cycle. in our opinion going to 2020, 5g, iphone 11 right now, airpods right now, if you look at it, that continues to trend well ahead of expectations. i believe right now, this is on its path to a re-rating and i think this is just halfway through it. stuart: wow. ain't that something for a company that size, already worth $1.25 trillion. it's astonishing it's going up some more. $325, $350. let me move on to tesla. i'm sure you know this. they are thinking about cutting prices of their china-built model 3s, maybe 20%. but you say tesla -- it's up today -- that's a two-year high at $387. more room to go up from here? >> right now, you are seeing a lot of the bears going into hibernation mode on tesla, because you can't fight in terms of what the demand looks like, especially in europe.

it's all about china. because fundamentally, this is a $500 stock or $250 stock depending on its success in china. that's what musk is betting on. that's why you get the price cuts. it comes down to china. that's going to be the next phase of growth. that's why right now for tesla, the big focus is china and europe. right now it's the one-two punch. you will continue to see that stock move higher because right now, in terms of demand, you can't fight those trends. stuart: we are on a roll. apple is going up, tesla is going up. the big one, microsoft. last time you were on the show you said it goes -- it's now at $155 -- you said it's going to $170. any advance on $170? because i own some of it. >> so we are -- our price target is $185. if you look at microsoft, what's happened this year, obviously our thesis has proven out, right. we are only halfway through because in my opinion, the best cloud play is microsoft. that's a re-rating that's happening in that stock.

it's all about what they are doing in terms of the azure push. the next phase of cloud is microsoft's to win. that's why when i look what happened with amazon right now, microsoft is starting to win that cloud battle. jedi was just the first step to what i believe is a share trend toward microsoft. stuart: you have been watching this, apple going up, microsoft going up. has it surprised you at all? >> i think part of it is that it's the transformational trend. sometimes stocks move up on just hype. this, it's fundamental reasons, it's cloud, it's a super cycle, it's 5g. that's why you are seeing microsoft move up. that's why you are seeing, you know, what's happened with apple and that's why you're seeing what's happening with semis. tease are re these are real fundamental reasons and that's why you are seeing more and more risk on in this market. once the 15% tariff came out, that was a green light for year end and next year. stuart: $185 on microsoft. shall we leave it at that?

>> that's where we leave it. this is just the start of what's going to be really a golden age for tech. stuart: a golden age for tech. we have been in a golden age for tech already, surely. >> we are only halfway through in terms of what we have seen, in my opinion. stuart: what a great guest, talking up microsoft like this. hell of a guy, young man. good stuff. merry christmas, one and all. thank you very much. . happy holidays. stuart: thank you, appreciate it. as 2020 hopefuls bernie sanders and elizabeth warren push for more big government, a new fox poll shows incredibly that 51% of democrats actually favor socialism over capitalism. 41% of millenials say the same thing. how do you get americans, especially youngsters, to break away from the idea of free stuff and entitlement? how do you do that? come in, scott walker. former wisconsin governor. that's the question. millenials seem to favor socialism, free stuff. how do you break them away from that? >> well, i'm all for free stuff.

i'm for free speech and free expression and free practice of religion, free enterprise, most importantly freedom. those are the things that don't cost things. what's interesting, you look at these polls, not only young people, as you mentioned democrats are all for socialism until you start seeing the price tag. elizabeth warren's support started to drop once she started talking about the $26 trillion, all the new taxes, all the new burdens involved with that and the fact you might lose -- 180 million of us might lose our own private health care. the more people know the facts, the more they move away from socialism. the less they know the facts, the more they embrace it. we just got to get that message out. it's one of the things we are looking forward to doing. young americas foundation is getting into our colleges, high schools, even junior high, and pointing out the difference between socialism and freedom. stuart: by the way, i'm sure you have seen this. senator warren is backing away from that, what is it, $32 trillion medicare for all. she says it would be just a transition. we will get to full medicare for

all at the end of her -- into her second term. what do you make -- why is she doing that? why the retreat? >> i think when she talked about the trillions and trillions and trillions of dollars in new taxes that americans would be paying, even democrats, even people who say they are for socialism are all for it, margaret thatcher said it well. she said socialism is great until you run out of, you know, the only problem with it is you eventually run out of other people's money. that's exactly what's at stake. thinking about it, this time of year we actually say merry christmas to folks, imagine if santa was a socialist. i think it's a pretty good thing to think about. if he was a socialist, your gift would be, you know, wouldn't be unique, wouldn't be hand-made. it would be bland, gender-neutral. everybody would get the same thing whether they were naughty or nice. worst of all, if santa was a socialist you probably wouldn't get it until sometime next summer because there be no incentive to make this on a timely basis. stuart: you are cruel, governor. cruel. however, let me -- >> thankfully santa's not a socialist. stuart: young americans foundation, you run it.

that's you. what's your message to youngsters? how do you turn them on to capitalism? how do you make them like it? appreciate it? >> yeah, the good news is the more time i have been on campus, the more i notice that students really aren't liberal. some are, but most students aren't liberal as much as libertarian. they have been sold this bill of goods that somehow those of us right of center, those of us who believe in free enterprise, believe in pfreedom, that we wat to control them. just the opposite is true. people believe in socialism put their faith in the government, want them to tell us what to do, how to do, when to do it. those of us right to center if we are true to our principles, don't care what you do as long as you don't hurt the health and safety of your neighbor, go do your own thing, live your own dream, pursue your career. that's what anybody needs to hear but particularly young people need to hear it. the difference is that between capitalism and socialism, it's between freedom and socialism. i think more young people, people in general, crave freedom. we've got to get that message out. stuart: well said. i like the analogy about santa.

real good stuff. that will live on videotape forever, believe me. >> i love it. stuart: i will run it a lot, believe me. governor, thanks for joining us. merry christmas to you. >> merry christmas to you, too. stuart: thanks, sir. thanks. look at facebook. rallying. nice gain there, nearly 3% higher. deutsche bank raised its price target, says it's going to get to $270 a share. one more thing on facebook. they are hiring fact checkers? what's that about? lauren: very convoluted policy. obviously facebook has been under fire for being anti-conservative so they have hired -- they outsourced the work. they have hired a team of community researchers, so the facebook algorithm identifies something that might be false, this team of community researchers then researches it and reports back to facebook. so this is a way that facebook is distancing itself from the content, saying we didn't do it, a team of community researchers did, contractors, if you will. stuart: sounds good p.r.-wise

but convoluted, as you say. the stock is up five bucks. there you go. we have been counting down the country's top economies all week long. indiana was number five. nevada, number four. number three, north dakota. we have the governor on the show next. i want to know what makes his state tick. keep it on "varney." ♪ look, this isn't my first rodeo...

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learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be a part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. stuart: the house did pass that trillion dollar spending bill. now it goes to the senate. if you look closely within that spending bill, there are continuing tax breaks for alcohol. ashley: yeah. this actually first went into effect in 2017 but as it was written, would have expired at the end of this month. but no, it's been extended for

another year. it basically reduces the federal excise taxes that alcohol producers pay. this has been a real boon for small businesses, distilleries, wineries just getting into the business. it's been a real creator of jobs and expansion but the fear was this would expire but they have gotten a year's reprieve. if not, some of the taxes for the small operations that haven't paid the full whack up until now would have faced a 400% tax increase. stuart: so tax breaks extended. ashley: another year. stuart: we'll take that. all week long, if you have been watching the show, we break down america's, the top states with the best economic outlook. if you remember, indiana was number five. yesterday, nevada was number four. today, number three, north dakota. big shale state. it's an energy state. however, all this oil we are producing has hurt some of the drillers. we asked senator john hoeven, north dakota republican, about that yesterday. here's what he had to say.

>> 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 have seen slowdown in some areas, but we are a very low cost producer, so we are continuing to grow. stuart: that sounds good. come in, doug burgum, north dakota governor. governor, great to have you on the show. are you on board with what the senator had to say? you doing okay, energy-wise, despite the glut? >> well, great to be with you, stuart, and of course, north dakota is a tremendous energy state. we are a tremendous agricultural state. and a tremendous technology state. one thing that for sure is that every job in every industry is being changed by technology. when we talk about energy today, it's a technology industry, and the entrepreneurs, the innovators that are driving their costs down, lowering their

break-even point, has really transformed our nation. the biggest geopolitical change in the last seven years is that now the united states is in a position to be able to sell energy to our friends and allies versus buy it from our enemies and that's because of the kinds of things that are happening in places like north dakota. stuart: now, you are a very low tax state, as i understand it. the maximum income tax rate in north dakota is, what, 2.2%. you are a farm state. you are exporting rapidly to canada and central america, mexico, so usmca is doing you a lot of good. i also hear that north dakota has become a drone center. tell me about that, sir. >> well, over 15 years ago, north dakota began down a path of becoming a leader in unmanned aerial systems and through our universities, where we have got top aviation schools, one of the best in the nation, we have also begun leading and this last year, the legislature worked to pass historic and first in the

nation legislation where we are building out the first statewide air traffic control system for unmanned aerial systems, and what this means is going to be increased productivity for every aspect of agriculture and every aspect of energy, transportation, because the information that we can get digitally through drones flying around our state, across our state, supporting all of these applications, is going to be absolutely fantastic, and we know that at some point, this is going to be needed for the whole nation but because we are building out the first test site, we are able to fly beyond visual line of sight here in north dakota without a chase plane coming behind them. we also have over 40 startup companies that have come here and some of the major u.s. aerospace companies have set up operations in north dakota because this is the place, if you want to be in unmanned aerial systems, north dakota is the place to build out and create your applications. stuart: it's also the best place for it. i have been there. it's dead flat, not many people. perfect drone country.

congratulations, governor, on being number three in the states with the best economic outlook. it was a pleasure having you on the show, sir. appreciate it. >> thank you, stuart. today, fargo, north dakota ranked number one from zip recruiter as the hottest job market in 2020. so check it out. stuart: wish i had known that earlier. i would have put that right up front of the interview. thanks for joining us. >> bismarck, number nine. stuart: there's more. there's more. it never stops. bismarck, number nine. governor, again, thank you very much for being with us. we appreciate it. last word. okay. next, john wallace, the former knicks player, he was a leader on the court. once he left basketball, he started mentoring youngsters on how they can be leaders. get this. he doesn't get paid for it. he teaches youngsters how to speak publicly. that is not easy. he will tell us how he does it after this. ♪

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i need all the breaks as athat i can get.or, at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: special guest. he led syracuse to victory, he was a first draft pick with the new york knicks. now he's doing something just as important. he's leading a new generation

off the court, inspiring youngsters to live a better, more forward-looking life. i've got a clip from one of the youngsters in his program, just watch this. >> it's often listed as the number one in the entire world. more than death. think about that. more people would rather die than just speak. now, our teachers are probably saying we talk, well, way too much, but everyone has a voice. everyone. stuart: that was pretty good. what he was saying is look, the fear of public speaking is the number one fear for many, many people. look who's here. speak well adviser, john wallace, former basketball player. john, welcome to the program. >> thanks so much. thanks for having me. i appreciate it. stuart: how do you get youngsters like that to overcome their fear and get out there and speak? just the way that young man did? >> it's just part of being the

speak well program that patty kennedy started up. that was actually her son that was speaking. months before that, he was scared to speak. he had stage fright and had to overcome that, which he got everyone in the program to do. going to syracuse, i was at newhouse for about a week or two. one of the first things i learned, more people would rather die than to speak in public. that always resonated with me. i was like i don't want to be one of those guys, one of those guys. i started working on my public speaking back then. i knew at some point i'm probably going to be in a public speaking and i want to be able to carry myself in the right way. stuart: is that the journalism school? >> the best school, best journalism school in the country. we all know that. it's not even up for debate. stuart: okay. nice going there. i know you know the heisman trophy winner. >> absolutely. stuart: he made an emotional speech -- >> awesome. stuart: it inspired $375,000 worth of donations to an ohio food bank. let me let the audience into this. a clip, please, from that

statement. go, please. >> coming from southeast ohio, it's a very, very impoverished area. the poverty rate is almost two times the national average. there's so many people there that don't have a lot and i'm up here for all those kids in athens, athens county, that go home to not a lot of food on the table, hungry after school, and you guys could be up here, too. stuart: that speech didn't flow but it had enormous emotional content that linked him with his audience. >> it was just real. it was genuine. and i can relate to it because i was one of those kids that grew up sometimes not having a lot of food at home, and it just pushes you when you get to a point when you can kind of help people, that's the first thing you do, you want to give back. you want to try to help people to get them out of that situation. stuart: public speaking's a very very important thing. we think it's standing at the podium before a thousand people.

that's not like that. >> no. stuart: think of it in terms of you are making a presentation. you are pitching somebody. you are selling something. you've got to speak publicly. why don't you charge anything for your services? if you went to the best journalism school in the world, how come you're doing this for free? >> i don't do everything for free. stuart: you come here for free. >> you got to think, too, it's still marketing. so i'm on your show, people are going to see me on your show, that turns into dollars sometimes. that's the way you got to look at it, right? stuart: now, i do want to say this. you've got some exciting news. your jersey, the syracuse jersey, that's going to be retired in february. what's the big deal about that? i'm a non-basketball guy. what's the big deal? >> well, i'm the 15th player in syracuse history to get his number retired in a basketball-rich type school like syracuse, to enter the pantheon of the greats that played there before me is just an awesome,

awesome honor. my family, everyone's going to be there. the company i just partnered with, anchor tough, we are going to probably make some of the jerseys so i'm really excited about that. i'm in a really good place in life right now. stuart: john, shake that hand because you, sir, are a great american. >> stuart, thank you so much. appreciate you. stuart: thank you, appreciate it. all right. we are a week from christmas. i've got an early gift for you. my own fox nation christmas special called "twas the night before christmas" and you can wa watch it now on fox nation.com. more after this. ♪ ♪

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stuart: trying to remember the words. lauren is helping me out. was the night before christmas all through the house not a creature was stirring not even a

mouse. is that it? lauren: that's it. stuart: i read that live on this show right before christmas many years ago. six or seven years ago. i teared up. i did. i kind of lost it. ashley: got to you. stuart: got to me. you said why? you have young children, don't you? lauren: i do. stuart: have you ever read this to them? >> i haven't. stuart: it is poignant, flows so nicely. i got children and now got grandchildren. i find myself the iting emotional reading that thing to them, to this day, even at my advanced age. ashley: one on "fox nation" you promoted, emotional in that reading? stuart: it's a replay -- ashley: replay of one i did on that show. lauren: varney christmas tradition to read it? stuart: talking about the very distant past. i brought it back for the show. you can watch it now. my daughter angela, produced it

up. made it something worth watching. it is on "fox nation." it drops as, what i mean by that, it drops, it appears today on "fox nation." have we got that straight? it drops today. neil, it is yours. neil: look forward to that thank you very, very much, stuart. looking at historic day. not talking about what is happening right now. back and forth on wall street all but ignoring it. why that continues to be the case. economy apparently is the reason here. that is one thing that can't be impeached. blake burman, how the president is weighing all of this. blake? reporter: the final process is underway here in washington as the house of representatives just approved the rule that will call for six hours of debate when we get the final vote later this evening, probably sometime around dinnertime in washington, d.c., on articles of impeachment. it's a mere formality at this point president trump will