may very well cut into it. finally, sandy asks is it sauce or gravy? it's gravy, of course. i grew up with my mom saying i'm making gravy tonight and that is some of you call it tomato sauce but when i was cooking, when i cooked with my dad who i still cook with, he's a former chef, owner of the rex manor in brooklyn, we still refer to it as gravy. that does it. have a great day, everybody. "varney & company" begins right now. stuart, is it sauce or gravy in your household? stuart: it's not gravy. it's sauce. maria: it's gravy. stuart: you put gravy on mashed potatoes which you eat with turkey on christmas day. maria: not if you're italian. stuart: my name ends in a vowel sound but i'm not italian. let's be clear about this. maria: i know. okay. gravy. stuart: have a nice day, everybody. good morning, one and all. good morning, everybody. we are wrapping up another historic week. i have been saying that every friday recently but this has been truly historic.

impeachment with speaker pelosi's commemorative gold-embossed signing pens, the solemn march as the articles are walked over to the senate, that whole charade breathlessly covered by the trump-hating media, wall to wall coverage for all of that but very little for this. the china trade deal, historic event, redefining the way trade deals are negotiated and structured. that was a big plus for america. and thursday, virtually no coverage for usmca, another trade deal that helps our economy. in fact, none of the three broadcast networks even mentioned it. and politico's first headline, major win for trump, that really changed fast to senate passes usmca, much work remains. can you believe this? we are very glad that you are watching us. so look at this. more stock market records are a'coming. big companies reporting solid profits and we appear to be in a

meltup mode again. the dow is up, what, 270 yesterday, closing just shy of 29,300. any gain at the opening bell today means another record. we are going to be up about 98, 100 points. s&p, same story. any gain at the opening bell means a new high. so, too, for the nasdaq. you know, i have lost track of how many records we have actually hit, but i've got one more big news item for you. a huge jump in housing starts. that is very good news for the economy. again, we are glad you're watching us. you're watching history. "varney & company" is about to begin. [ applause ] >> the yeas are 89. the nays are 10. the bill is passed. stuart: the speaker signed the

articles, then handed out commemorative pens to the assembled trump haters. the pens have her name embossed in gold. >> i think you called me a liar on national tv. >> what? >> i think you called me a liar on national tv. >> let's not do it right now. stuart: okay. a quick wrap up the week that was. china trade, usmca, two wins for the president and it's only january. we have an all-star lineup to end this week. 11:00 this morning, you will see president trump welcome the lsu team to the white house. it's the first time in a long time a sports team is graciously joining the president and has left the politics out. following that, white house economic chief larry kudlow, he will join us. i'm going to ask him about those extraordinary housing numbers we just received. and the great pete rose is with us again. it's legend after legend on "varney & company" today. so start with this. the markets. going straight up again. stocks set for more records right at the opening. that surge in housing starts up

16.9%, that's clearly helping the market again today. market watcher jonathan hoenig joins us now. jonathan, futures were up 40, 50 points, then we got this huge surge in housing starts. that looks to me like a primary factor in today's rally. what do you say? >> bull markets beget more bull markets, stuart. the trend is up and as we have been saying for weeks now, i don't think you want to fight the tape right now. two people buy the bottom and sell the top and they are both liars so don't make that your goal here. this is an opportunity to focus on your own portfolio. we don't know how high the stock market will go. instead of worrying about that or trying to pick that top, look at your position. if you have a position that's going to be 15%, 20% of your portfolio, great opportunity to set stops below the market but don't sell a stock because the market is up because as we demonstrated, highs beget highs

and the trend continues towards more highs. stuart: just hold on for a second, jonathan. i have more, i'm going to call this positive economic news from the federal reserve. what have we got? ashley: philly fed president, who is a voting member this year, says look, overall the economy is looking pretty good. we are in the longest economic expansion on record and i see growth returning to trends of about 2% this year, a view that is widely shared. he says wages may be on the lower end of the pay scale but consumer spending remains strong. stuart: we will take that as a positive. look at that market go. we are up 95 in the futures right now. back to jonathan. let me talk microsoft for a second. they've got this plan to be carbon-neutral by 2030. it looks to me like climate change is now part of the overall investment scene, certainly this year. what do you make of this? >> this is not just microsoft, all the big tech companies are really getting heavily into climate change as a main core function of their business in

many cases. the irony, you want to be carbon-neutral, frankly, that's the easiest way and the idea of removing co2 from the atmosphere, that's plant food. if any type of entity is going to save us from the proposed or perceived threat of climate change, it will be companies like microsoft, not governments. i'm happy to see them spend their money to address whatever type of threat they think the climate could put forward. stuart: thanks for joining us. the bull market rolls on. jonathan hoenig right there. we are focusing on the market, focusing on the economy, and i'm going to focus for the moment on apple. look at that. riding high, $316 in premarket trading as of right now. all-star tech watcher gene munster with me now. you know, i really do read your stuff and i know that you think this stock is going to the moon, because they are into things, all the things that matter in the future. have i got your sentiment right? >> i think you do, and i want to

put some context on it, stuart. one of the biggest drivers is going to be 5g. we hear a lot about 5g. i believe apple is one of the best plays on 5g. it's going to start in a couple years, there's going to be some gives and takes as we ease into this paradigm, but stick with me for a minute that this is going to be the fabric of tech for the next decade. i think a fair analogy of how to put perspective on 5g is to think about the color, what it's done to film. "wizard of oz" 1939, the first movie to be colored, it was magical at the time but quickly forgotten and thought of as a fad. movies went back to black and white and tv started in black and white, but then it took off, and now we can't even look back. it fundamentally changed the way film is done. that is a similar type of analogy to what's going to happen with 5g. it's hard to put exact parameters about what realtime data speeds mean to tech, but apple has four plays within that and i think that is ultimately

going to move this stock into the 400s and beyond. stuart: into the 400s and beyond. i like that expression. okay. let me turn to tesla, because again, i read your stuff and you think this thing is going to $900 a share in, what, four years? make your case. >> the case is that -- well, this is going to be first an up and down road. it's important that your viewers understand that, that this is a very different story than apple but the upside is pretty straightforward, is that today tesla has 70% of the u.s. electric car market. i think that over the next several years, call it the next decade, they can garner call it 12%, similar to what gm and toyota have in terms of global market share. if they do the 12% market share, that would yield about $350 billion in revenue a year. companies like apple trade at four times revenue. that's a combination of hardware, software and services, similar to tesla, so that is

much bigger. where do i get the 900 stock? that would be $150 billion plus company. that is just kind of a starting point to how this can play out. i want to have some layer of conservatism in there but you can quickly do the math and see how this can be a much bigger company. stuart: i'm doing the math and i'm looking at some extraordinary numbers. gene munster, you have been right so far on this program. i hope you're right again in the future. good man. mr. munster, thank you, sir. appreciate it. again, look at the overall market this friday morning. look where we're going here. any move up for any of those three indicators means another brand new all time high. how about that. up about 90 for the dow. telling you again, the president's top economic adviser on the show about 11:30 eastern. i will ask him about the stellar housing numbers. john schneider is on the show. he will tell us how his wife used cbd to help during her

successful cancer treatment. pete rose is back, too. he's on the show. again, that's in the 11:00 hour. we are talking to him about this burgeoning baseball scandal. but next, mike bloomberg really on a spending spree. you won't believer how much is going to be spent on this campaign, not just by him but overall. we are talking tens of billions. hard to believe but we will be back. so what do you see? i see an unbelievable opportunity. i see best-in-class platforms and education. i see award-winning service, and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪

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stuart: you know, rare public appearance, iran's supreme leader praises the missile attack on u.s. bases in iraq. ashley: called it a slap on the face to the united states. this is the first time, by the way, the supreme leader, the ayatollah khamenei, 80 years old, he hasn't led friday prayers in tehran since 2012, but he used it as an opportunity to try and rally the country. as we know, there have been protests over the downing of this passenger plane. he goes on, though, to call the trump administration evil, he

called president trump a clown and called suleimani's funeral and the iranian military response a turning point in history. by the way, it was reported there were no injuries from those attacks on the iraqi bases where u.s. troops were based, but 11 of those troops we understand have been treated for concussion after they showed symptoms days after the attack. stuart: well, we did not get a presidential tweet responding to the ayatollah but we did get this tweet from the president about a half hour ago and i will read it to you. mini mike bloomberg doesn't get on the democrat debate stage because he doesn't want to. he is a terrible debater and speaker. if he did, he go down in the polls even more if that's possible. joining us now, bradley tusk, an adviser to bloomberg's campaign and his former mayoral campaign manager. you heard the tweet. react. >> we would love to be in the debate. we need the democrat national committee to allow us. they require you to be a certain amount in the polls and to have

200,000 individual donors. we have one donor, mike bloomberg. he made his money himself, made it honorably, he does not want to be bought by anybody. stuart: would he want to be in the debates? >> absolutely. stuart: he would? >> if you are running for president, which we are, you can get your message out to as many people as possible. the debates are a very high profile stage. stuart: are you doing debate prep with him? >> we are working on it. stuart: are you? he sits there, you sit here, you fire questions and see how he responds? >> you are on the campaign trail answering all the same questions all the time, but the other candidates have been preparing for a year now and debating for a year now and should we get the opportunity to be in the debate, we got to be ready. stuart: see this headline in the "wall street journal." where are we? okay. the headline is bloomberg's huge spending transforms 2020 campaign. i'm sure you have read this. >> i have. stuart: you know perfectly well that the spending is absolutely huge. >> yes. stuart: he's buying -- not buying the nomination or the election, he's buying the campaign. he's got 1,000 staffers already.

>> look, what he's doing is, a, running his campaign without taking money from different corporations, special interests, anything else. he's the only candidate that's truly independent. b, if you look at his policy proposals, he's not proposing things like medicare for all or free college or ultimately promising trillions of dollars in tax payer spending if elected. i would argue buying the election is using the taxpayers' money to give stuff away to get people to vote for you. he's using his own money he made on his own. stuart: interesting way of looking at it. >> thank you. stuart: saving the taxpayers money by investing his own. okay. i hear it. now, you were an early investor in uber. you got your money in there. i put it to you that uber's facing a very serious headwind here, this gig law, the california gig law, but that's been spread elsewhere. this is not good news for uber. >> no, it's terrible news. uber estimated that the california regulatory change, drivers are now employees, will

raise their costs by 20%. new york, new jersey, illinois, washington state, a whole bunch of other states are taking up this legislation as well and given how badly uber did in trying to defend themselves in california, there's no real evidence they are going to do any better in the rest of the country. stuart: these are all democrat states. >> absolutely. uber has not handled their politics well. back in the day under different leadership, all the democrat cities, new york, l.a., chicago, we fought the taxi industry and won and that's how we became legal but the company's changed a lot since then. stuart: i just hate to see it. i love the idea of a revolutionary company like uber coming on the scene and disrupting everything. but the long arm of the democrats with their historic aversion to startup companies, it's -- >> look, if you are organized labor, the sharing economy is a great opportunity to try to get new members at a time when your member is plunging so i understand politically why they are doing it. i think the door is open to two things. one is political cronyism with

labor on the democratic side. two, uber is going from a disruptive startup into a slow-moving big bureaucracy. stuart: you still have money in it? >> i'm out. stuart: out completely? >> out completely. by the end of last year. stuart: is that because you didn't like what was coming down the pike? >> have no faith in if company at all. in fact, i even knew because i sold right after the lockup, i was probably selling at even more of a discount and in a few months it would rebound, but my view is i believe for uber to succeed, it has to be ruthlessly innovative and i don't think that's in their dna at all anymore. stuart: what if you just took the stock down. you are a fine guest. appreciate you being with us. thank you very much. snap. what's the stock on the screen? it is up, i think. yeah, 3.5%. they have an upgrade from ubs. i got two items on the gap. is it gap or the gap? the gap. all right. gap. it's called off plans to split old navy into a separate company, and its president and

ceo of gap's brand departing, evidently investors like it. the stock is up 2.7%. we've got news on payless shoe source. it's coming out of chapter 11 bankruptcy. it's making a comeback. lauren? lauren: it's going to open new stores. we don't know when or where, actually. bricks and mortar and their online store as well. they never closed their international operation, i do want to point that out. this is their second trip out of bankruptcy. more than 9200 stores closed last year and payless made up the bulk of those stores. stuart: would you buy shoes online? lauren: i do all the time. that's one thing you can. you know your size. most size 7s fit like size 7, if you ask me. stuart: yeah? lauren: yeah. why? stuart: i'm wondering why payless doesn't go into the online business more as opposed to opening bricks and mortar. lauren: they will revamp the online store and come back e-commerce. and they also continued this whole time to sell on amazon. stuart: got you.

let's go to the new york stock exchange. gerri willis is there. they seeing any headwinds to this ongoing market rally? anything at all? gerri: what's the negative here. that's what they're saying to me. all upside for right now. that's certainly all the news we see. we have two trade deals in two days, right. that's positive. look, we are getting great economic data. the housing starts numbers today, all of this is positive. yesterdays weekly jobs claim was up, philly fed manufacturing, all-time highs on these markets. i got to tell you, the fear is fear of no bad news, i guess, for some people. back to you. stuart: the fear of the fear of no bad news. that's a double negative whammy if you ask me. there you are. thank you, gerri. no headwinds that we can see. got it. senator martha mcsally called on a cnn reporter yesterday, called out, actually. we have what she said to that reporter and why she will not apologize. you will like this. can you believe this. "varney & company" turns ten on

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should the senate consider new evidence as part of the impeachment trial? >> manu, you're a liberal hack. i'm not talking to you. stuart: you're a liberal hack and i'm not talking to you. good stuff. liberal reporter from cnn. cnn's wolf blitzer said you have got to apologize. here's what mcsally had to say about that. roll tape. >> i'm a fighter pilot, you know. i called it like it is and that's what we see out of the mainstream media and especially cnn every single day so obviously i'm going to tell the truth and i did it today and it's laughable how they -- >> they were saying you have gone full trump. >> well, they have also said that it was unbecoming a senator and i lashed out and also -- >> i have a question. what do they do on a daily basis? stuart: unbecoming of a senator? you are a liberal hack. i want more of that, please. can we have that? ashley: i love it. stuart: we have more. hold on. not from martha mcsally but

this. president trump snapped at this guy, acosta, cnn's guy at the white house? ashley: jim acosta, good friend of the president, tried to interrupt him at an event in the oval office yesterday. let's roll the tape. you will get the sense. >> i don't know him. perhaps he's a fine man. perhaps he's not. i know nothing about him. >> [ inaudible ]. >> i don't know him. i don't believe i have ever -- i never had a conversation that i remember with him. >> [ inaudible ]. >> let me just tell you, you just have to take a look at the polls -- quiet. you just have to take a look at the pictures, you just have to take a look at the polls. i don't need anybody's help. stuart: i love it. ashley: quiet. stuart: i lovely loabsolutely l. no reporter in the white house has the right to interrupt constantly a president of the united states. ashley: let's not forget this reporter brought out a book last year called "the enemy of the people, a dangerous time to tell the truth in america." where does this guy stand? anyway, yes, the president shut him down on who he knew with

regard to ukraine and the quid pro quo issue. he's like quiet. stuart: that was good, wasn't it. he didn't snap at him. ashley: no. no. stuart: quiet. that's a presidential order that one tends to obey. and he did, actually. ashley: he did shut down after that. stuart: all right. let's move on. because we are poised for yet another day of records on the stock market. look at that. left-hand side of the screen, this is for the benefit of our radio listeners, i should say. we are up 90 points from the dow -- for the dow industrials, 9 up for the s&p, 42 points more for the nasdaq composite. if those numbers hold, then we are going to have record highs -- ashley: the economic data continues to be encouraging. i mean, you know, i was doing the show yesterday going into the close and the dow surged into that close and all the traders i was talking to said bottom line is the economy is humming along very well. in the background, you have the fed, a friendly fed, and of

course, the next issue is earnings. so far they have been pretty decent. stuart: by the way, i missed this yesterday morning, that the firing rate, the layoff rate, it's called first time jobless claims, that's the technical name for it, all the way down to 200,000. that's historically very very low employers are not laying people off. lauren: people have jobs, wages are going up, that's being factored into the housing market which was a weak spot for the economy. look at the number we got this morning. we haven't seen a number like that since 2006. that was a housing boom. stuart: 10:00 this morning, we get the jobs report. for the benefit of the uninitiated, that's the job openings report. how many jobs are going begging, unfilled positions. it's going to be in the neighborhood of seven million. ashley: probably a little over. stuart: it could be. we will get the official number at 10:00 this morning. lauren: consumer sentiment, how does the consumer feel about everything, because one of the biggest reasons the economy is humming along is because the consumer is feeling good about things and spending their money. stuart: that's why, left-hand side of the screen, this market

is going straight up again to a series of new highs. all right. lauren is here to help cover, ashley is here to help cover and so, too, the man who is now on my right-hand side, usually on the left, but on the right this morning, david dietze. welcome back again. good to see you. >> thank you so much. stuart: never stand in the way of a bull market run that's melting up. can you say that now? >> absolutely. you've got sentiment is, you know, extremely strong. you've got very low interest rates. you've got the fed on hold. we've got some relaxation in trade tensions. not just one trade treaty signed but the second one with the usmca. so things are looking good. stuart: yeah. and it's really spread around. i was in the elevator at fox this morning, ran into someone of my age who has been working here for many years, and he went out of his way to say hey, i just opened up my 401(k), he said i damn near fell down, he goes it's that good. most people are racking up 30%, 40% gains in their pension money

since the president was elected. >> absolutely. there's such intense focus on tech stocks but it's not just the tech stocks. the utilities, oil was up 35% last year, gold is making a strong move. wherever you go, things are moving up. banks, very relaxed monetary conditions. stuart: look at this. here we are, friday morning, ending out yet another colossal historic week and we go straight up right from the opening bell. we haven't yet opened all of the dow 30 stocks, but as they open, they are turning green. they are going up. okay. we are up just 30 points in the initial opening here. i'm a little surprised at that. ashley: production came in a little weaker. i don't know if that's playing any role. stuart: they are almost all open and the dow has opened with plenty of green, left-hand side. at the moment, it's a fractional gain for the dow. i was expecting more. how about the s&p 500? expecting a solid gain there. that's another all-time high, up

seven points. 3,323. the nasdaq composite, all-time high, a solid gain there. you're up .33%, 9,391. i'm still not quite sure what's going on with the dow, up only 30 points. i was expecting up 50 or 60. my producer just said hey, stuart, you're spoiled. you know, you're right. you're right, it's a friday morning, i'm used to straight up. couple of stocks left-hand side of the screen, alphabet, it is now a trillion dollar company. that's the fourth trillion dollar company, american company. apple is up at $315. amazon is down 12 cents at $1,882. month change for microsoft. look at it, at $167. how about that. any comment from anybody, please? is our breath taken away? ashley: we are in awe. lauren: the alphabet $1 trillion

club is truly, truly remarkable. we have three companies right now in the u.s. that are at $1 trillion. they are about a fifth of the overall market so sometimes we talk about this meltup, when those stocks go up, the rest of the market will go up and vice versa, unfortunately, on the downside. amazing. stuart: is amazon a trillion dollar company? lauren: not anymore. it did hit it. it is no longer. >> during one day back in september of '18 it hit it and has come back down which is a cautionary tale. alphabet is really interesting because it's almost like a box of chocolates. we know that the search business is great. we know they are making all this progress in the cloud. but we don't -- one of the strongest internet businesses on the planet is youtube. we don't have a breakout of the numbers there. waymo could be your best autonomous self-driving play. we don't have the numbers. it will be very interesting, new management coming in, they will report february 3rd, see if they share more details. that could take the stock higher. lauren: maybe a dividend for the first time. >> there you go. stuart: how about that. does

anybody here invest in dividends? i do. capital gain is preferable. apple, take a look now. it's still riding high. a former star apple analyst gene munster earlier on the program today, he said the sky's the limit for that stock and it's moved up, $316. what have you got to say about apple? >> the story is so great. if we go to 5g, they are so well-positioned to provide the phones that everyone is going to want. of course, the service component, too, is growing by leaps and bounds. that's a recurring revenue type of situation. having said that, of course, net income was down last year. they made it to the flat line by buying up the stock but the stock is up almost 87%. guess what, it can't go to the sky. stuart: okay. producer, can you show me that board where you've got all 30 of the dow stocks? ashley: heat map. stuart: we call it the heat map. justin, that's your name, all right, put it up, please. look at that.

i see, what, six, seven stocks down. ashley: boeing. stuart: what's the big loss? ashley: ibm. stuart: ibm is down. boeing is down. you have six, seven stocks among the dow 30, that's why the dow is up only 30 points, where we've got the nasdaq and s&p up much more solidly. let's move on. tesla. where is that stock this morning? roughly, yeah, $511 a share. again, tech watcher gene munster with us earlier, said very bullish on the stock over the long term. he said it gets to $900 and that's in a four-year period. there will be ups and downs before then but it's primed for $900 a share four years down the road. comment? >> well, so it only has to go up 6% more and that's going to trigger a big bonus payout for elon musk, once it hits basically $100 million market cap. he's going to get about $347

million and of course, that's going to be helpful to him because he's already got $29 billion. stuart: that doesn't take it to $900 -- >> no, it doesn't. the concept is great, but i mean, the fact of the matter is, you know, they've got labor problems now. of course, registrations are down in california because they are taking away some of the ev tax credits because they hit 200,000 models a year. by the year 2022, it will be about 100 different models of ev cars all over the place. so love the concept, tesla hopefully will win. stuart: okay. how about facebook? two news items there. some competitors suing to get zuckerberg to sell his majority stake. tell me about that. ashley: yeah, because they say quote, anticompetitive behavior. they say zuckerberg should give up control of the social media behemoth. they say it should be forced to sell whatsapp and instagram and so on and so on. stuart: a breakup. ashley: a breakup is what they are calling for. they say facebook is one of the largest unlawful monopolies ever seen in the united states and

they've got to halt this most brazen, willful anticompetitive scheme in a generation. lauren: nancy pelosi said the same thing. stuart: yeah, but far more important to the stock, i think, is the other news item on facebook. they are backing away from efforts to put ads on whatsapp. that's the bigger deal, i think. lauren: whatsapp has 1.5 billion users and it's free. how do you monetize it? facebook was considering putting ads on it but the founders of whatsapp said no, no, no, it's one of the reasons why they left the company, because they didn't want to ruin the user experience. so what facebook is going to do now is try to monetize whatsapp in other ways by international feeds and also business services. stuart: okay. i wonder if ajit is watching the show because i just got another two robocalls. okay. move on. they just keep on coming. lauren: you are a little distracted. you are getting robocalls on your phone. ashley: they love you, stu. they love you.

stuart: they wouldn't if they ever met me face to face and that's a fact. dow is up 39, 40 points, okay. the rest of the market going straight up. ten-year treasury yield, where is that? 1.84. that's a bullish signal. money out of low risk bonds, going into higher risk stocks. price of gold, it was up earlier, it's up seven bucks now, $1557. oil, $58 a barrel earlier, $58 a barrel now. nbc's streaming service peacock announced how it will charge subscribers. there is a free version, i believe. ashley: three tiers. there's a free version it will debut on july 15th, it's got 7500 hours of programming. it will have ads, of course, and they estimate they can generate $5 per subscriber through the advertising. then there's the next one, $4.99 a month called premium, but you still have ads with it. interesting. then the big one, the super premium if you like, ad-free, is

$9.99 a month but the premium ones, the top two will include live sports, fallon early. you will be able to watch that show at 8:00 p.m. eastern instead of having to stay up until 11:00 which i find really -- no, no, this will get you excited. these things will include live sports, including non-televised english premier league games. stuart: oh. ashley: now we've got your attention. lauren: i just fell asleep. stuart: i'm buying. i'm buying. ashley: 4.99 a month. stuart: quick question about if a streaming service has ads. i'm not sure whether it's youtube or netflix but when i watch them, there's this little thing on the bottom corner that says skip ad, touch. lauren: youtube. stuart: it's only four seconds worth of ads. that's not so bad. right? >> but the challenge for these cable companies is because it's going to be less ads, they are not going to be able to charge as much as they are afraid of cannibalization from their main

cable channel which is why i think if you keep paying for your cable, you will get the service free so you don't completely cut the cord. stuart: i think i now understand. i might just buy it for epl. the gap. is it the gap or gap? okay. lauren: gap is a company. the gap is the store. stuart: thank you. the gap, calling off the old navy ipo. when was the last time anyone you know went to the gap? lauren: well, to be fair to the company, there's one right across the street. i go there all the time. they have great kids' clothes. i like the fact -- anyway, it's not doing well. they have proposed a little while ago that they were going to split off their better performing chain, old navy. now they are not -- they canceled those plans because they say it's too confusing and there's no value in it in the end. gap stock was surging on this news but now, it is actually down a little bit. stuart: 18 bucks a share on the gap. look at this. we are having so much fun, the

time just flew by. 9:40 eastern time, almost. that means we've got to say good-bye to david. thank you for joining us. >> have a great weekend. stuart: yes, sir. thank you very much. i was expecting 50, 60, 70 point gain for the dow. did not get it. in the first ten minutes worth of business, we are up just 20 points. nice gains, though, for the s&p and nasdaq and record highs over there as well, but not much action for the dow. the markets are actually at records. the economy, yes, it is booming. coming up, we will talk with the white house's top economic guy, larry kudlow. he's on the show 11:30 this morning. talk about legends. pete rose, back with us. we are talking to him about baseball's cheating crisis. it is a crisis, believe me. the army turning to video games for recruitment. they say video enhances skills that are good in a military environment. we've got that story for you. believe it or not, on monday next week, "varney & company" turns ten. we have a huge anniversary show. as we say in television, you

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look, they are going to create the chassis and a lot of the electronics that go along with this. interesting, because china is a huge market for autos but the sales numbers have been really weak in the last couple years, even for electric vehicles, because the government subsidies there, as they have here for tesla, have started to peter out. so it's been a tough go, but we think of fox com as iphones and all that, now getting into the car business. stuart: interesting. got it. thank you. look at this headline from the hill. quote, a gop-led edge red states see less unemployment, more economic growth. kristen tate, opinion contributor for the hill, wrote that article. this seems to dovetail precisely with the blue state exodus over high taxes. spell it out, please. >> you're exactly right. when you look at the last election cycle and you compare it with economic data, a trend becomes very clear which is that electing a republican governor even without a matching gop

state house generally means that your state will see less unemployment and more growth, among the 20 states with the lowest unemployment or actually, the 23 states because three states tied for 20th place, 17 of them had a republican governor prior to 2018. north dakota is a great example. that state has a 2.5% unemployment rate. it's really prospered in recent years because the republican leadership has embraced fracking technology, and the kind of growth we are talking about, stuart, really benefits workers at all levels of the economic ladder, people like waiters and servers in places like north dakota, utah and florida are bringing home multiples of the federal minimum wage. some are taking home as much as $20 an hour. the big takeaway i want to convey here is that these gop championed principles like lower taxes and business-friendly regulatory environments, they are creating booming economies in red states. stuart: is this a trend which is speeding up, becoming more

obvious? what do you think? >> oh, of course. as these red states are booming, we are seeing blue states like connecticut and new york see their residents flee. new york city in particular, i mean, new york is losing 280 residents per day and i want to underline how important the role of the governor is in these states. these people play a monumental role in the economic success of states because these people are really shepherding legislation through the lawmaking process and setting the agenda in the state. so 11 governors' seats are up for grabs in 2020. we can only hope the residents in these states understand these trends and see what's going on. stuart: we have seen numbers of people leaving like california, new york, new jersey, connecticut, but we have not really broken down the numbers in terms of who is leaving these high tax states. i take it it's people with money. can you confirm that? >> it is. it's high earners but not only

high earners, also middle income earners. people go where the jobs are and corporations are more frequently locating to red states with more friendly business environments, places like texas, like florida. so people will flock to where the jobs are and generally speaking, there are some exceptions, but generally speaking, for young workers, more established people in their careers and retirees, moving to a red state means you can hold on to more of your hard-earned cash, you have a better chance at starting your own business and the power of your dollar is far greater. generally speaking, republicans who run these states understand that individuals know how to spend their money far better than the government does. stuart: would you call yourself a republican? >> i'm kind of a libertarian leaning republican. i made the move from new york to texas a couple years ago and it was the best thing i ever did. stuart: really. i didn't know that. >> hold on to more of my money. i don't get hit with that state

income tax anymore. the cost of living is much better. stuart: do you like texas? >> i love it. the people are awesome, they are friendly, everyone kind of understands, you know, why the texas economy is so strong. there's a common mindset that really bonds the people of texas together and more and more people are jumping on board and making that move from places like california and new york. texas, florida, arizona, these states are the future of the prosperity of the united states. stuart: i hear you, but i live in new jersey. thank you very much indeed. >> i'm so sorry. stuart: okay. don't worry. i'm doing all right. thanks. see you soon. there's something called a client poll, it's from goldman sachs, and i understand this client poll is bullish on the president but wait a minute, what's a client poll? lauren: people who do business with goldman sachs. it's not their own strategists. asking people who give them money to invest, what do you think of president trump.

87% expect president trump to win re-election. 87% expecting. that's not representative of the electorate but of goldman's clients. stuart: wonder if that's an indicator. lauren: only 5% expect a recession this year. that's indicative of the strong economy that people are feeling. obviously if you are invested with goldman you probably have seen your investments go up quite a bit. stuart: you should have. you should have. thanks, lauren. look at the dow 30, please. i'm trying to identify the red ones along the bottom. i can't read it, actually. lauren: intel, disney, goldman, boeing, ibm and united health. stuart: thank you. that's keeping the dow to a gain of just 30 points where the other indexes are much better than that. soda stream, that's the device lets you make your own bubbly drinks, returning to the super bowl. they've got a new ad. their last ad was six years ago. the ceo of soda stream, on this program next. ng your credit card debt

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stuart: for the first time since 2014, pepsi's sparkling water division, soda stream, by the way, is returning to the super bowl with a new ad. brian welch is with us, the general manager of soda stream usa.

back to the super bowl with a very expensive commercial after six years of absence. why? >> good morning, stuart. stuart: good morning, yes. >> in 2014, we were an alternative to soda and cola specifically. this year's focus will all be about repositioning the brand to sparkling water brand. stuart: you guys made $5 million or somewhere thereabouts for 30 seconds. >> repositioning a brand like soda stream, it's the biggest stage in the world and that's the right place to do it. stuart: when you say repositioning it, what does that mean? how will you reposition it? it's still a sparkling water product, isn't it? >> absolutely. stuart: with lots of competition. >> before the focus was on making soda, making cola. now it is all about making sparkling water. that's where americans are going. when you look at the beverage business, that's where the growth is happening, sparkling water is leading growth right now in beverages. stuart: why? >> health and wellness. people looking to get sugar out of their diets and this is an

easy way to do it. stuart: you are owned by pepsi. >> we are. stuart: i just found out that this morning. >> we are. last year they purchased soda stream. stuart: they wanted a sparkling water division to enhance their health view of beverage. >> sparkling water, and it's all part of their beyond the bottle strategy as well for the future. sparkling water's on trend and so is removing plastic waste from the environment. stuart: okay. i will get to that in a second. what about cbd? any plans to put cbd in your drinks? >> none. stuart: none? >> none. stuart: because you're not supposed to imbibe it. you can put it on as ointment or something. >> this is about sparkling water. stuart: you are not interested in that at all? >> we are not. stuart: this is an odd question i've got for you. >> shoot. stuart: counter space. the modern american kitchen is jam-packed full of gadgets, whether it's espresso machine, coffee machine. a pasta maker, you know. >> breadmakers. stuart: you are kind of jammed up on the counter there. is there room for a soda stream?

>> they call it the most expensive real estate in the world, is the countertop. you know what, the cupboards are also jammed with plastic bottles. when you think of the overall space in the kitchen and trying to manage that overall real estate, this is actually really economical. stuart: is that what your ad's all about? you don't want single use plastic bottles any longer? that's the ad, isn't it? >> that will be part of the ad. it's all about sparkling water and health and wellness and removing plastic waste from the environment. stuart: brian, you're all right. thanks for joining us this morning. appreciate it, sir. thank you very much. okay. how about this. "dukes of hazzard" john schneider is on the show next hour. he's here to tell us how his wife used cbd to help during her successful cancer treatment. it's been a huge week for the president. china deal, phase one, done. usmca, passed. both big wins for the president. the flipside to that, speaker pelosi celebrating impeachment.

i will wrap it all up for you in my take which is coming up next for you. this is the age of expression. everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office, we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual. when i lost my sight, my biggest fear was losing my independence. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... stuart:.

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stuart: we're a half hour into the trading session, more record highs on the markets, and precisely 10:00 eastern. we're getting a report. >> we're waiting. stuart: this report is important because we have a fully employed economy and this is how many job openings we've got. >> 6.8 million, a little short of what we were expecting. 7.2 million, but 6.8 million job openings. stuart: that means unfilled positions, whether we've got people to occupy those positions, that's another story but 6.8 million openings. equally important consumer sentiment. that's important too. i'm not sure we have got that number yet. yes we do.

>> 99.1 -- [inaudible] -- down a bit. this is a january number. this is how do consumers feel about the economy right now. it's based on jobs and wages. and also there's a number that does preview their expectations, not a terrible number but a little bit of a disappointment. stuart: our guest is here. i know you are a specialist in entrepreneurial companies. address the big picture for a second. you have this jobs report 6.8 million unfilled positions. consumer sentiment slightly lower, make any difference to the bull market? >> no, i don't think so. we were looking at low interest rates, continued growth among the key large cap entrepreneurial companies. small cap companies are very strong, coming out of the gates very strong, you have 16.1%, another 5 1/2 percent year to date. we are seeing growth across

areas. we still have concentration in the two largest companies, microsoft apple running about 16.6%. i see growth from the other nontrillion dollars companies in 2020. stuart: the bull market is intact. >> it is intact. we may see some profit taking later on, you know, later in january, early february. when you took your microsoft gains, you did a smart move. stuart: you don't have to rub it in. i left a ton of money on the table >> no it is good. stuart: the big board shows a gain of 56 points as we speak. we've also got a new high on the s&p and the nasdaq as well. bull market lives. now this, january 17, 2020, the end of a week that saw speaker pelosi celebrating a narrow partisan and in my opinion spiteful impeachment. elizabeth warren desperately playing the sexist card and a media that is collectively losing its mind at the thought

of another four years of president trump. what a week. that's one side of the ledger. on the other side, what a contrast, another round of stock market records. check your 401(k), you will see what it's done for your retirement. views on the economy showing exceptionally strong consumer spending. a china trade deal that reshapes the u.s. china economic relationships. and then another new trade deal with canada and mexico. without putting too fine a point on it, the democrats are on the negative side. the markets, the economy, president trump, on the positive side. what did the democrats do this past week to help every day people conduct their lives? handing out commemorative impeachment pens and gleefully trashing the president of the united states hardly qualifies as help for the little guy, now does it? where were the democrats at the china deal signing ceremony? absent. they were on the other side of capitol hill giggling about their impeachment triumph.

even the usmca got a no vote from the democrat senate leader chuck schumer and their leading candidate bernie sanders. in fact, it was another week marked on the left by continuing contempt for the president. trump hate continue to cloud their judgment, can't get past it. they keep looking back to election day 2016, and they are not over it. their vision of the future is tax the rich, spend trillions and let's get back to the good old obama days. fortunately, this friday morning, it's the positives that are way out front. deals with all four of our top trading partners that will grow the economy. the stock market delivers a 13 trillion dollars boost to the nation's wealth. you have been watching history. the democrats are on the wrong side of it. i'm absolutely convinced that my friend and colleague lawrence jones will agree with me. isn't that right? >> that was a good monologue.

here's the deal. 31 democrats that were in swing trump districts promised to get healthcare done, going to give american people more tax breaks, get dreamers, right, citizenship and they didn't deliver on any of that. these are the people that were trying to tell the progressive caucus that calm down. nancy pelosi lost her caucus; right? she's known as a strategist. this was not a strategic move. she thought she had power in the senate. she got nothing. i think there will be backlash when it comes to the 2020 election. the big question is, was it worth it? stuart: i sit here every day for three hours and i look at what's going on around in the world in money and politics. the positives keep winning. the stock market records, the economy growing, the president and his trade deals. it is the positives that are winning. i'm happy to say that, by the way. it's the negatives -- again this is my opinion -- the negatives that are losing. >> let me take you back to the

democratic debate. tom steyer got on stage and said that the economy is what the democrats should be running on. how do you run against this market? how do you run against jobs, unemployment numbers? stuart: he said it is not fair. >> right, the democrats have a big case to run against this president when it comes to the economy because they don't have anything to deliver to the american people. to see them get on stage and talk about this is going to be a race based on identity politics. they have nothing to deliver to the american peel -- people. if they had gotten healthcare done -- the president is a moderate on most issues. they said look we delivered this with the president. instead they will be running on something different. i don't think the american people -- there's a silent trump voter. i know because i have been across the country. they don't want to be on camera

or answer polls but they are going to vote for him. they agree with their pocketbooks. stuart: it is hard to fight prosperity just because you may not like the language or the persona of the president. >> right. stuart: let's turn to joel. if you look back at this past week or the year so far, the positives are winning and the positives are pushing that market up. i mean, where am i going wrong here? >> you are not going wrong. we look at since the china deal first made people a little nervous, you know, in the last year or so, markets are up, you know, 30%, year to date, across the board, large cap, mid cap, small cap, non-u.s., i mean things are up in our case with entrepreneurial companies 5%, 4%, and 6% for different baskets -- the markets are way up. job growth is strong among many large companies and small companies. so across the board, we're seeing strong news, compelling news that says we've got a very

vibrant economy. stuart: we do indeed. hold on a second, joel. lawrence, one last one, do you see president trump winning significant -- a big win in november of this year? as things stand? >> i think he wins the house as well and nancy pelosi is retired. i think this impeachment stuff is really going to backfire because the country wants the members of congress to get back to work and they have made this supposedly solemn moment into a political show. you know, i think it is going to backfire. stuart: always a pleasure to have you on, lawrence. >> thanks, brother. stuart: i like that brother bit. [laughter] >> that's right. [laughter] stuart: you are all right, mate. [laughter] >> i'm from the south. [laughter] stuart: i like it. listen to this, this is for joel, listen to what tech watcher gene munster said about apple in our last hour. roll that tape, please. >> one of the biggest drivers is going to be 5g.

we hear a lot about 5g. i believe apple is one of the best plays on 5g. it's going to start in a couple years. there's going to be some gives and takes as we ease into this paradigm, but stick with me for a minute. this is going to be the fabric of tech for the next decades, and i think that is ultimately going to move this stock into the 400s and beyond. stuart: you heard that, joel. i know you are sort of an entrepreneurial kind of guy. you can't ignore what he had to say about apple. >> right. we also have large cap entrepreneur companies too, which there are a number of those. apple is an interesting case because apple -- people don't realize that in the last five years, their profits have gone from 53 billion to 55 billion. it's essentially flat. we are talking about a stock that's gone up 3x, three years about 105. today about 316. it's gone up 300% in the last five years, the profits are flat. china, people talk about china growth and so forth, i mean it

is down from 58 billion in sales to 43 billion the last few years. this is a stock that's got way ahead of itself. they have an executive who is getting about 130 million per year -- stuart: you think it is ahead of itself? >> 5g, no question about that, that it will be a driver for this market. i think a lot of people have already baked that into the stock. etfs in the marketplace are buying -- you know, are pushing up apple. microsoft because they are part of almost every major basket out there. stuart: joel, thoughtfully you did not push apple stock down. still at 316 on the upside no matter what you said. >> i don't think i'm going to push it down. stuart: no you are not. joel, thanks for joining us. appreciate it. the market is at record highs. the economy i will call it booming. next hour, we will talk with the white house top economic guy larry kudlow, 11:30 eastern time on this program today. also next hour, another big guest, baseball legend pete rose. he's with us. he's going to talk about this growing baseball cheating

scandal and much more. but coming up next, the army using e sports and video games to help recruit. they're using e sports to get potential recruits a taste of what military service is like. interesting. >> yeah. stuart: we 'going to talk about live reports and break it down for you, all about what's on your screen right now. we will be back. ♪ ♪ ♪ ♪

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earlier. a lot of downward pressure, and by the way, the imf, which i don't frankly believe anything they say these days, they are not the best in forecasting, but they do believe that china's economy will continue to slow down, 5.8% this year. it's been really decelerating and certainly the trade war has not helped, but if we get agreements for that -- stuart: phase one, maybe that will help them get back up again. we will see. check the big board. we have a very modest gain for the dow industrials. some of the big name dow stocks are not doing well, but we're still up about 30 points for the dow. s&p, nasdaq, record highs. google has reached and is still at the trillion dollars value level. we're at 1465, just a tad over a trillion dollars valuation. third american company to reach that level and stay there as of now. tesla planning to open a design and research center in china, not helping the stock. it is down $1.20 at $512 a

share. ubs raised its rating on snap. that's helped them gain 5% this morning. gap, there's a retailer getting multiple price target hikes, after announcing it will not spin off old navy. the stock, though, is down 10 cents. interesting story here. the army using video games to recruit new members. grady trimble at a gaming conference in texas. tell me more about this, grady. >> stuart, it is all about meeting young people where they are, so they have these massive gaming conventions. you expect to see different companies try to capitalize on the growing industry of e sports and video gaming what you may not expect to see is a boost for the u.s. army, but they found a lot of success trying to recruit young people at events like this, and they actually have an e sports team. this is the guy who came up with the idea to introduce that team and use it as a recruiting tool. i got to be honest, when i saw this, i said how does video gaming translate to being in the army? so what do you say to that?

>> so the easy one is obviously hand-eye coordination, but there's additional things where critical thinking come into play, being able to take large amounts of data, being able to process that and taking these very complex games and taking them to the height of their efficacy is some of the attributes we look at. >> also, stuart, they have a big trailer that we visited this morning and we saw that they take this trailer to all sorts of events like this one and high schools across the country. they bring them in, let them play games and have a chat with them about maybe enlisting in the army. stuart? stuart: that's fascinating. grady, i'm going to move in to bring in video gaming expert. rob, the whole point here or part of it i think is these games are extremely realistic. they really take you on to the battlefield. that's a plus, i guess, for recruitment. >> absolutely. and not only that, the army is using e sports as a way of bridging the gap to gamers. the modern day soldier is really

not that different than you and i, and especially when you think about games as a whole. everyone is playing games now. you have lawyers, doctors playing games. any way you can take these games and help you realize maybe i could be a soldier, i relate more to these people than i realize. stuart: careful how you say about lawyers playing games. [laughter] stuart: that's a tricky subject for people. new numbers please on video game sales. >> for the holiday period for december alone down 15% according to npd, and in fact down five months in a row, but the reason for this is the new consoles are not coming out till later this year. so there was a big hole there if you wanted to buy something new and mobile gaming is very big. stuart: rob, come back in again. sales are down because these new consoles are not here yet. so what is my -- look, i'm not a gaming kind of guy, so i don't understand. spell it out for me. so what? >> so towards the tail end of a

gaming console cycle we will always see game sales go down. we're seeing x-box will launch their x-box series x around christmastime, a play station five coming out. mobile sales are up as well. looking at like 200 million dollars in revenue probably in 2020. we could anticipate the gaming sales are going to increase, but even then, there are some of the largest hits that we've had in 2019. stuart: did you say 200 million or 200 billion in sales 2020? >> i believe it is 200 million, but i will have to go back and check. you can check my twitter. stuart: you have sales down 15% in the holiday period, is that why gamestop is not looking too good at the moment? >> i don't think that that's really gamestop's problem. gamestop's problem is a changing of the age. their entire business model is becoming something that's completely antiquated. as we enter an age of more digital downloads, people no longer need a brick and mortar store to go and get their games. they prefer to buy it right there on the microsoft store,

epic game store, all that sorts of stuff. stuart: all right, captain rob, thank you very much indeed. you are our gaming expert. we appreciate it. >> thank you very much. thanks for having me. stuart: how about this one, this really stumped me when i saw it. california governor newsom wants to cut traffic ticket fines for low income families. he says that will prompt people to actually pay the fines. can you believe that? we'll deal with it. next hour president trump welcomes the lsu football team to the white house. they won the national championship. they're joining the president. no politics. how about that? we'll be back. ♪

stuart: listen to one, california plans to raise taxes on a company based on that company's executive pay. spell it out? >> yeah, so the bigger the disparity between what the ceo earns and what the average worker for that company earns will determine how big your tax is going to be. bob iger at disney earned 75 million in 2018, 1400 times than the average worker that he oversees. i don't know exactly what that works out to because they didn't give the formula. this is being proposed in california, come out of committee. it will go to the senate by the end of the month. guess who is behind this really pushing hard for this is abigail aris, who says people shouldn't have to go to the food bank while working at the happiest place on earth. stuart: we hear that. another beauty, that's what the script says, another beauty from california's governor newsom.

he's considering reducing traffic fines for low income drivers. our guest is here with us from los angeles. all right, how little do you have to make before you get the break? >> sit on your bum and you don't have to pay half of your ticket. the magic number, stuart, good morning to you, $27,000 a year or less. if that is your salary, or you just do nothing in life, if you get a ticket, don't worry about it. it's only half. so for everybody else, we'll be paying the full price. as you go past us on the freeway, driving like a maniac, that's the new proposal, legislation at a cost, by the way, to the state budget just to set the program up of 56 million dollars. to say nothing of the fact that there are 3.6 million tickets written in the state, and 1.8 billion dollars worth of those are delinquent. that's what the governor is trying to get at. stuart: real fast, what's the response of california residents

to this? >> just listen to what these people are saying. stuart: it's coming. we lost it. oh, i'm sorry. we lost it. >> as you can imagine, stuart, they are not happy. [laughter] >> it is not a fair concept. it's riling people up. and you know what happens, it starts here in california, and that trickle effect works its way across the country. stuart: don't say that. thanks, kurt, i'm sorry about the sound bites there. we will get them sooner or later. did you know by the way that ten years of varney & company premiered. we will be celebrating that on monday. we have a whole list of guests who have been a part of the show since the beginning. it will be good. we're celebrating come monday morning. president trump just tweeted about lsu. he's gearing up for that event at 11:00 this morning. we will show it to you. stay with us. much more. we will read it to you later. much more varney just ahead.

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♪ stuart: not a favorite. [inaudible]. >> when it comes to the beatles, what's wrong with this? stuart: too popular. the name of our executive producer's daughter -- >> he has a name. he reminded you. stuart: he has a name. his name is justin. it's your song, penny. got ya. check the price of oil, please. we're at $58 per barrel, and my next guest says this is not

necessarily to do with the price of oil. the state of pennsylvania, life in pennsylvania, is better than it is in new york state in part because of fracking. daniel turner is back. he's power the future president. okay, pennsylvania allows fracking, a big industry. new york state does not. does that account for big difference in life between the two? >> tremendous. we wanted to do a study comparing the economy in both states with regard to the fracking issue. they both sit on the marcelas shale formation, which is the largest in the nation. pennsylvania has taken advantage of it. new york has not. governor cuomo has outlawed fracking in the state. the most fascinating statistic i found in the study we did was in the height of the great recession 2007 to 2012 when pennsylvania was losing jobs this industry created more than $15,000 jobs -- 15,000 jobs paying 30% more than the average salary.

when we continue that trend from 07 till now, pennsylvania has created close to 40,000 jobs in this industry. new york has created none. pennsylvania's contributed almost 2 billion dollars to their economy. new york has contributed none from this industry. land is more valuable in pennsylvania. gdp is better in pennsylvania. and it's not because of circumstance or happened stance, it is because of liberal policies. stuart: it is because the governor of new york, andrew cuomo, he's a global warmer, he's a climate warrior and he doesn't want fracking because it creates the fossil fuel of natural gas and he won't have it. in fact, the senate -- as you know, daniel, the senate passed usmca yesterday. eight democrats voted against usmca, including chuck schumer, the democrat who leads the senate as a minority leader. it strikes me that a climate change is really getting to the core here of why new york is not doing as well as neighboring pennsylvania. >> exactly, when you have this

climate change liberal philosophy and you inject it into everything, your state is missing out on opportunities. gillibrand, the other new york senator who voted against this says she couldn't vote for it because it would do nothing for jobs in up state new york. if you want to help jobs in up state new york, open it up to frack. look at pennsylvania and look at their environmental record. look at what it's doing for their economy and for their citizens in rural communities. it is shameful that new york is not allowing this to happen. stuart: pennsylvania obviously is a swing state. >> yes. stuart: vital for the reelection of president trump or the election of a democrat. how the democrats go out there, like bernie sanders and elizabeth warren and say no fracking. we'll kill it. what are you trying to do? lose pennsylvania? >> exactly, with these thousands of people who work in this industry, how are they going to vote someone who wants to ban fracking on their first day? new york would be in much better shape economically if it were allowed to happen. stuart: it is not going to happen. >> no, it is not. our entire study is available on power the future.com.

it's a great study. stuart: spent 25,000 on it. >> to make sure we got the facts and figures right. we hope to send it to many legislators and the governor and definitely send one to gillibrand and schumer. stuart: thank you very much, daniel. >> thank you. stuart: microsoft wants to be -- it says -- >> carbon negative. stuart: by 2030? >> it wants to erase its entire carbon footprint in the past 45 years so it wants to remove as much carbon from the environment as it's emitted and it is spending 1 billion dollars to basically develop technology that will help them to do that. stuart: okay, it is retroactively getting rid of the stuff it's produced in the last 45 years. >> we have seen a lot of companies on their own say we care about the environment and we want to do what we can to protect it. stuart: i think the importance of the story is that this is a major corporation. it is microsoft. and a lot of other corporations

are beginning to use climate change as part of their ongoing strategy going forward. microsoft is leading the charge. >> yesterday, black rock said basically investors will be angry if corporations -- if we don't invest according to the environment. stuart: overall the market is still clinging on to a nice solid gain, up 68 for the dow. s&p up. nasdaq is up. microsoft up at 166. the crime drama law and order it was filmed in new york. one of the show's stars endorsing the former mayor. who would that be? >> that would be mike bloomberg. stuart: i know that's not bloomberg. that's the law and order guy. he's endorsed bloomberg? >> i guess so, yeah. stuart: oh okay. >> we're going to find out. stuart: we will find out.

check our big board, bottom right hand corner of your screen, up 60 points for the dow. we're holding on to a lead. but look at that level. 29,357. may i remind you, that back when president trump was elected, that november, 2016, the dow was at 18,000. now it's 29,300. how about that. we've got news from iran's supreme leader ayatollah khamenei. he's defending his military over the shooting of the ukrainian plane. defending his military for the shootdown -- >> a slap to the face of the united states -- stuart: what was? the shooting down that ukrainian plane, that was not a slap to the united states -- >> no, but the response to -- [speaking over each other]. >> he said the west including the u.s. took glee in the fact it was shot down because they

blamed iran. the slap to the face was -- which he began the speech with was the attack on the iraqi bases where the u.s. soldiers were because of the taking out of soleimani. he very rarely addresses the country. hasn't done this since 2012. i think he's realizing that the mood on the streets as we've seen in tehran and other cities has been ugly. they've turned on their leadership. they've turned on the iranian authority saying how could you shoot this plane down by accident? and khamenei tried to deflect some of this towards anger at the west. but, you know, it's interesting because we have seen those protests. we've seen some brutal slapdowns of those protests by the iranian authorities. stuart: we have also seen the president telling the iranians don't threaten us again. >> he called president trump as an evil administration, called the president a clown. i mean, he was clearly on the offensive. stuart: no response from the president just yet. >> none at all yet. stuart: newly released audio

from senator warren explains why she was upset and snubbed bernie sanders' handshake. we will play it for you and show you how the massachusetts senator is contradicting herself. at 11:30 a.m., white house top economic guy, larry kudlow is on the show. more varney & company next. ♪

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enroll today by calling the number on your screen or visit getsilversneakers.com >> i think you called me a liar on national tv. stuart: that's a pivotal moment for the warren campaign. that's where she was going after bernie sanders right after the debate there. i think she played the sexist card. that's my interpretation of what that interchange amounted to. bringing in now please tammy bruce, and i bring in tammy this point on this subject because tammy was the president of now

in los angeles. >> let's not remind us but gives me perspective. stuart: there's no harm in reminding. >> that's true. my politics haven't changed in that i do think women can make a difference. we do in business and politics. we see this troubling dynamic, and even with hillary or elizabeth warren is this tendency to then use that characteristic of ourselves as though that makes us special or in and of itself better, when it comes down to character, so for far too long there's this sense that women have different character than men, whereas we don't. that there's a value of character that we usually see with men in power so we maybe associate that with masculinity and different characters with femininity, but the fact is honesty, being forth right, having a good sense of what matters in america is what matters, and yet, this -- she knew what she was doing there. she knew the mic was on. the cameras were still going. she wanted to make a point of

either making him calling her a liar. look at her history. she effectively people say she lied about getting fired because she was pregnant. those kinds of things, using the aspect of being a woman to try to either get sympathy or to move ahead when we have to move ahead based on our ideas and our policy. stuart: it is not working. she has played the gender card -- i think that is a better expression >> that is correct, yes. stuart: she hasn't been entirely truthful about some things in her past. >> that's right. stuart: this identity politics is not working because she is -- >> it is not working for her. it certainly didn't work for hillary. and yet they're presuming that the american people can be manipulated in this way. i think kamala harris thought it would work for her, just because you are a woman.

we're far enough ahead now to where we are competing in the political arena, in the business arena, but we must deliver, and people expect us to deliver on good work, deliver on good policy, deliver on good management, as opposed to presuming that there should be a different standard because we're women, and this approach for high-profile political women says that you should try to just get people to accept you because of your gender. when the feminist movement was in fact trying to break us away from expectations and gender stereotypes and now we're falling back into that trap and it is not going to work. stuart: i want your comment on something else that occurred yesterday. that was president trump, he was at the white house, addressing the media, taking some questions. and an old nemesis from cnn tried to interrupt him. let's see what happens. roll tape. >> -- a conversation that i remember with him -- [speaking over each other]

>> quiet. you just have to take a look at the pictures and look at the polls. i don't need anybody's else. >> that was the cnn reporter constantly interrupting the president. i think the man was right to say quiet. >> it's about leadership. it is about managing an environment. it is what you do in business. it is natural. it is like handling in the case of acosta a child that's running around, that you've got to give them some kind of a parameter. people like acosta are relying on the news briefings every day, they want to get some attention. that of course they've abandoned their work, the notion of trying to get information from a president, but that's the president of the united states. treat that person accordingly. and of course -- he says that by the way to a lot of reporters who try to interrupt him or when he needs to make a point, and to now complain about the president's style, which is about leadership, of course is

old hat and dumb i think at this point. stuart: he's abandoned the old fashioned press briefing because it was a circus. >> that's right. stuart: he's gone into just controlling the media because he dominates. >> he's also the most accessible. stuart: he is, more than of anybody. >> he is the most accessible individual, talking all the time. sometimes they complain he won't stop talking. the fact is that the american people appreciate that. the media's unable as a result to control the narrative because of his nature. and that's good news for us. and acosta of course is finding out that, you know, we want to hear from the president. we don't want to necessarily hear from him. stuart: that's very true. especially cnn's ratings. president trump's tax overhaul driving savings for top american banks. lauren, tell me that one please >> top six banks saved 32 billion dollars since the 2017 tax cuts. 32 billion dollars. that has helped many of them,

jpmorgan, morgan stanley report their biggest profits ever for 2019. stuart: i forgot to say thank you, tammy. >> oh my pleasure. stuart: i turned away to a totally different story and i dissed you. >> no, you didn't. i read your mind. [laughter] stuart: remember the show, put it on the screen. oh, who you could forget. dukes of hazard, one of the actors is going to join us, not to talk about the show, to talk about how cbd helped his wife. john schneider is with us, momentarily. ♪ as a struggling actor,

i need all the breaks that i can get.

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>> what's going on here? let's go see what's going on. stuart: you should see the studio audience watching that clip. we all remember the dukes. who can forget. my next guest, you know him as

bo duke from "dukes of hazard". on the show he and his cousin trying to -- >> we're trying to do the right thing. and the law was a little crooked. that's all. stuart: your wife is with us, i believe. >> yes, she is. stuart: your name is? >> alicia. stuart: got it right. you use the product cbd as part of your treatment for cancer. am i saying it right? tell me the story. >> correct. i was diagnosed memorial day weekend in 2019, with a very aggressive cancer, stage 4. it was on legs, arms, rib cage and in several parts of my spine besides my breast. it was very shocking, and i

acted like the house was on fire. i locked myself up on the computer and did a ton of research, and along with doing adjunct -- along with traditional standard of care therapy, i decided to do adjunct therapy. one of the things that my grand father told me before he passed, many moons ago, was to keep your minerals in check in your body. and when i was starting to do the research, i stumbled along minerals, hemp, cbd oil and then another thing called keto for cancer. stuart: so you started to use or take cbd. >>, uh-huh, orally, twice a day. stuart: was it part of your treatment for cancer or the cure for your condition? >> it was conditioning my body to fight it, so i don't have a genetic marker for cancer. stuart: okay. >> at all. so for us with this, if my dna

had a break in the system, how do we get my dna back to where -- >> get it back to normal? how do you get your body in the position to be able to fight what's happening right now, which means also accept the medication and accept the dietary change. what i believe -- because i was on the outside looking in is what cbd oil has done for us, or as we call c-bo-d, go figure. stuart: i got it. >> what it did as far as i can tell is it readied her body -- it made her body more receptive to the medication. it made her body more receptive to the dietary change which also made her body more aggressive in fighting it. so i don't believe this is the cure, but i believe this is something that can help your body get ready for the battle that it is about to go into. you can win. stuart: you won? >> yes, within five months, and that's what the crazy thing was. my pet scan that they did in may

looked like a christmas tree. and five months later, my pet scan is not lit up. stuart: you credit a lot of that progress to cbd? >> and diet. stuart: and diet, i got it. >> absolutely. stuart: i see a bottle here. it looks like -- >> it's a drop. we do it under your tongue. stuart: okay. >> do it once a day, in the spirit of "dukes of hazard" this is an apple moon shine flavor. because honestly folks i believe in all cbd oil but some of them taste like the bottom of a lawnmower. [laughter] >> this one tastes fantastic. i'm a big fan of it. >> you can also do it topically too. everyone needs a little yee haw now and then. stuart: thank you. it was great to have you on the

show. >> if someone tells you you have cancer, and someone tells someone you love you have cancer, you say oh hell no and you do the research like she did. fight it. it is not a battle you have lost when you hear that. you can fight it. you must be active. you must be your own biggest fan, if you hear those words. stuart: you're good. john, alicia, both of you, thank you very much. >> you are welcome. stuart: coming up, couple minutes from now, president trump welcomes the lsu football team to the white house, celebrating of course the national championship win. then baseball legend pete rose is coming on the show. we have a lot to go at with him including the growing baseball cheating scandal. plus the white house's top economics guy, larry kudlow, it is truly an hour of champions. that's what we're going to call it, the hour of champions, coming up right for you. ♪ at fidelity, online u.s. stocks and etfs are commission-free.

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retire better. stuart: the president host the college football champs lsu at the white house, this is going to be a celebration, they are the champions, it was their fans in new orleans who gave the president and the first lady the roar of approval, remember, usa, usa, 4 more years, the president liked it, he will enjoy hosting the champions, perhaps we can call this the champion's hour, that's the news we are bringing you. not quite the use of the word but we are covering a champion stock market, are we not, how many times have we said this, never seen anything like it before and i bet you've never seen your 401(k) perform like this before either, the champion market is the result of a champion economy, sounds like an american boost, i know, but i will challenge you to find a major economy that can match ours for growth, super low

unemployment and rapidly rising wages for the lowest paid, it is appropriate that we bring on larry kudlow, the president's top economic adviser, he's on the show in about half an hour, i'm not going call him the champion adviser but he's the man who plays a big part in steering this champion economy, and finally, around 11:50 we bring you baseball champion hitter pete rose, we want his take on the sign-stealing scandal, there you have it, the champions out, let's get on with it, we will start with a quick check of the big board, we have the champion market because we've got record high highs across the board, nasdaq is up 9, new highs all the way around. the economy is on fire too. let's not forget usmca passed yesterday, 10 senators voted no.

>> let's deal with trade first of all, china trade deal, usmca, got it. >> i cannot believe how much people are underestimating particularly of usmca, look at the past year, look at the job's market, business investment, usmca gets to the heart of that, 20% of manufacturing experts go to canada and méxico, when you put the rules in place, you see the investment come back, that brings the hiring, this is going to have a far bigger effect than most people are saying. stuart: if we were going to say, 1 and a half percent growth, will we get 2 and a half percent? >> i think it's half percent bump. it is a big deal. stuart: it is a big deal. is it just usmca? >> yes, i think the china deal is a longer-term deal, look, we

are talking about canada and méxico, a trillion dollars, one fifth of manufacturing expert power here, stuart, this is real, i talked to people in the midwest and industry are most concerned what's going to happen with canada and méxico, those are big trading partners, that's where you get big bang for your buck. stuart: lsu team assembling, lining up, firing up right there at the white house, the president will congratulate them on their victory any moment now he's going to have a good time, brian brendberg is still here. [laughter] stuart: wow. [laughter] >> he's done an analysis of what it would cost for bernie

sanders, all of his plans to lay out there how much do they all cost, add it all up, what do you think it cost, treasury secretary? >> i think he was coming to 6 trillion mark. i could cheat a little bit. stuart: how about that? that's so far out of reach it's not even funny. >> forget about the number for a second, talk about what it means, stuart, when you're talking about 60 trillion-dollar cost, you're talking about reinventing almost every aspect of our economy, everybody's life fundamentally gets changed when the government is going to add $60 trillion of new spending, by the way, those changes aren't directed by you but bureaucrats, money is power, this is a power grab by the government and never exceeded on this scale. stuart: apart from the power and money side of things, every single democrat front runner, there's four of them, they all want to raise taxes and they all

want to raise spending. i think that all those proposals would slow this economy down and probably turn it into a recession, what say you? >> i agree with that because i don't think any of the front runners care about economic, has been growth, yield jobs, yields wages, they have fundamentally denied actually for better part of a decade, they don't care, i think the american people care because they see the results in their pocketbook. they don't want to give low unemployment and wages. stuart: the president has just walked in. you can hear. shaking hands all around. he's going walk to the podium. >> yeah. stuart: that's joe burrow, heisman trophy winner, quarterback, i've been told. let's listen to him, come on. >> yeah.

>> coach that's good, right? [cheers and applause] >> steve, that's good. but today it's about the coach and the team and the unbelievable quarterback, unbelievable players, it's really my great privilege to welcome to the white house the college football national champions, the louisiana state university tigers. [cheers and applause] >> and coach, we have a lot of politicians out there, so many i won't really mention all of them, your senator, but we have a lot of great politicians out here and some football players, the politicians, i really respect football players a lot

more. we are joined by many with purple and gold, robert lighthizer, one with china and the other one with méxico and canada and with china we will be taking 250 billion a year and with méxico, canada will be taking in hundreds of billions of dollars a year, bill, that's pretty good, right, makes our stronger better and better, you did a fantastic job. again, senator bill cassidy, bill, you've been a tremendous supporter of the team and your state and we appreciate you being here very much, thank you very much, steve scalise. a lot of courage, you know, i went to the hospital. [cheers and applause] >> coach, i went to the hospital, he had a problem, you know the problem, i went to the

hospital, doesn't look good, sir, he looks better now than before the accident, it's a hell of a way to happen but steve scalise has a lot of gut. he's a tiger. he fights like a tiger, right. [cheers and applause] >> mike johnson, mike you're around here some place, thank you very much for being and garrett, thank you very much, garrett, thank you for being here. also here with us are louisiana's attorney general terrific guy jeff and secretary of state art wong, where are you? yes, thank you very much. thank you, folks. to all of the incredible coaches and players, this team, your head coach, i watched him on television, i said, man, he's all man, he's a big, i didn't know if he had laryngitis. it was a combination of both.

you did a job that a few people will ever be. [cheers and applause] >> as well as interim president of lsu thomas galligan. behind me, i think we have to make him permanent. a hell of a job, don. it's not just for what you have done on the football field which is too, you rallied together against offensive coordinateors,

steve. [cheers and applause] >> and the coach said you never waived. you never waived, so i want to thank you very much, thank you for everything you've done. [applause] >> this team showed the world what it is to look out for another. they considered choosing someone young every, you're pretty young guy, right?

younger, that's discrimination, you can sue them. [laughter] >> see nowadays you sue if you hear that, they want younger, let's sue them. [laughter] >> they made the right. does that make sense. if i was casting a movie i told him that's my football coach. [laughter] >> eddied not let louisiana down in any way and today coach o as they call him, you may well be the most beloved coach anywhere in the land. we have some great coaches. [cheers and applause] >> we have great coaches and you played against great coaches last year. but we have great coaches, but the job you've done is incredible. on the road to the title this

team overcame a brutal schedule and i had no idea how brutal until i looked at the numbers, you defeated 7 teams in the top 10, four in the top 5 and beat the national champions of the past 4 years, so what did you do, you get the schedule and you look at it, what did you do when you first saw the schedule, coach? you weren't happy. [laughter] >> now think of that for a schedule, you know, you get your schedule, wait a minute, every team is like a great team we have to play. you didn't have too many easy weeks but your explosive offense put every opponent to breaking point and to the breaking point and for the first time since the legendary coach paul, name we all know and the fighting tigers of 1958, lsu had a perfect undefeated season, so rare,

really rare. [cheers and applause] >> it's amazing how seldom you see that, coach, right, it's a hard thing to do, but your opponents did not make it easy for you and late october, number 9, au burn headed to death valley, it was all tied up at the start of second half when auburn took the lead for the third time in the game and lsu, single second in a single game. a championship you did. i was a little bit concerned. he didn't know the feeling. the next game i was in the

stand. [cheers and applause] >> that was for the first time in 8 years alabama also great coach, great team, lsu was unstoppable and soon you faced oklahoma in the opening round of the playoffs and oklahoma had a great season, you shut the sooners down from the very first drive, lsu held oklahoma to their lowest total yards in a single game since 2015, justin jefferson had 14 receptions for 227 receiving yards and 4 touch downs. college football record. [cheers and applause] >> he's going to be so rich. [laughter] >> we are looking at money and this guy, chase, whatever the

hell he is, where the hell is chase, he's watching balls all over the place, you guys are going to make so much money. i don't think your quarterback is going to do too badly, coach, i don't think they will do too badly, you beat oklahoma 63-28, that doesn't happen with oklahoma. one last time, lsu learned that its star quarterback joe burrow was something very special, after breaking a bone in his hand playing at ohio state, joe sat on the bench and wasn't happy about it, i heard he was not thrilled. [laughter] >> that was not the happiest moment. he didn't like it, i heard stories, he was going a little crazy, then the coach took charge and took a change and brought him to lsu, soon became the best quarterback in all of

college football, not close, he set record with 60 touchdowns, i never heard of that, 60, averaging touchdown every quarter and won heisman trophy by largest margin in history. [cheers and applause] >> that's incredible. >> as he received the trophy he fought back tears, did you fight back tears? >> little bit. >> if he told me he cried, maybe when he was a baby but i doubt it. he dedicated to kids of beloved home of athens, ohio, great state, thank you, joe. [cheers and applause]

>> joe, i want to say on behalf of the country that you make our country very, very proud, you're really an inspirational talent and all of that, but you're an inspirational player and you're an inspirational person and the team respects you so much, with joe quarterback and team with unrival talent and beside him lsu had to win the reigning champions, they were very large, we served them a lot of food, they ate so much food we didn't know what the hell to do, they kept eating and eating, a team that had not lost game in 741 games, the clemsen tigers, they are really special, amazing, before the game the first lady and i walked around the field escorted from rotc cadets from both schools, we joined tens of

thousands to watch the battle of the titans, this was a great game, tremendous game, coach had tremendous ratings on television, the ratings came in, they were not surprisingly but they were tremendous for what would be championship game, on your first drive, i think you might have something to do with it. although these two guys may be too. you had a lot to do with it. on the first drive lsu offense was pinned back at your own goal line, i watched it. you haven't been pinned back that many times because every time i saw you, you were in the 3-yard line, what happened, constantly but you kept doing just fine, you did just fine. that was a rope a dope. that's true, the first time you got the ball, you made the great play and they called it back as usual, you made the great pass, all over the place, he was going to be tackled 4 times like in the first play and you threw the ball and everybody was excited, then they said, there's a flag

in the field. too many flags, you know, referees they want to get themselves in the limelight. [laughter] >> that was a play that should have not been called back but that's all right. you punted after a rare 3 and out and soon clemsen struck first with a touchdown and for the first time all season they were behind. chase, that's the man i was watching him, caught a 52-yard bomb from burrow to tie it up, by the end of the day two catches and two touchdowns setting championship record with 221 receiving yards, that's phenomenal, come here jamal. come here. [cheers and applause] >> you have to say something. >> how y'all doing? how y'all doing? i'm just happy to be in the white house to be honest.

[laughter] >> that was very good. [cheers and applause] >> if i practice, could i beat him in a race? >> maybe head start. >> little head start. i think i might immediate a head -- need a head start, then in the fourth quarter, terrace marshal caught beautiful 24-yard pass in the end zone and lsu went up 42 to 25 and they were used to winning games, they won 28 in a row, coach, that's unusual feeling for them too, shows how great a team they have but all hope of a clemsen comeback came to an end when lsu forced a fumble, the ball was picked up by a true freshman quarterback, shutting down

clemsen, darreck, jr., where is derrick? [applause] >> that was a good feeling, coach. with that play the game was over with eye-popping 628 yards, the most passing touchdowns in playoff championship game and sec's 15-0 season, college football national champions and, coach said after the game, all i did was follow the plan, the fact he had a great coach here, this is a great, great coach. i really mean that. [cheers and applause] >> and the truth is with a great coach and outstanding quarterback and entire team filled with heart and skill and hope and courage and passion and

strength and unbreakable will to win, that's what they have, they have an unbreakable will in confidence. 28-0, i don't think they lad a doubt about what was going to be happening, i don't think, did you ever doubt? not even a little bit. [laughter] >> he's going to be so rich. [laughter] >> young tom brady, does that make sense to you? we call him young tom brady. this lsu team will long be remembered as one of the greatest in college football history. say congratulations and go tigers, go tigers. [cheers and applause] >> so coach, another coach that i respect a lot, his name is bill belichick, do you respect him? everybody respects him, he has a

lot of respect to him, i talked to him, he has a lot of respect for you and he thinks you're a great coach and we know results speak louder than anything i can say, i just want to congratulate you, we will help you with rescheduling next year where we give easier schedule, what do you think? bill, we will work that out, but let's have the coach say a few words, boy, does he deserve it, it's great to have you in the white house. [cheers and applause] >> thank you, president trump, what an honor to be here in the white house, i do have the best organization in the world, one team, one heart beat, it's about the men behind me and the men in front of me, you guys did it, you set out a plan, last year january 17th, you never talked about it, you went about it through hard work, dedication

and you did it and we are so proud, i would like to thank my wife kelly and my boys who have been with me. all the coaches' wives, i would like to thank you. one team, one heart beat, go tigers. [cheers and applause] >> at this time i would like to bring our interim president tom gallihan. stuart: you are wondering why we a financial program should spend 20, 25 minutes watching football team, two answers to that, two reasons why we stuck with it, number 1, you just watched a national brilliant football team show up all of them showed up, no politics and that's a big deal in this society today, how many times have we seen football

or any sports team show up and worry about the politics of being seen with the president, this morning, none of that at all. just a great ceremony. reason number 2, that just shows you what a good communicator is, he was without notes an he held our audience all the way through, you know brian brendberg is here, he's an economist, what do you know about communication? [laughter] >> thanks. stuart: the man is as good as ronald reagan when it comes to talking, he's got it. >> he's in his element, notice how he pulls everyone else is, the guys behind him were so nervous and yet they were cracking smiles, you're going to be rich, you're going to be rich, they're laughing, he has a way of loosening everybody up, that's why people watch him at rallies. it's so entertaining. ashley: he talked about the markets, continuing to break

another record after record, he talked about trade deal with china, the trade deal with méxico and canada, he got all of it in as part of winning team, you are right, he's in absolute element. stuart: lauren, what did you think of the coach's voice? lauren: i'm trying to think of where from and where it happens, but if he tells me what to do in the field, i would listen, a little bit intimidating. stuart: i hope you enjoyed that, we certainly did, now i think the president did and i think the lsu football team did as well, while you were watching that the dow momentarily turned negative, it just turned negative, okay, we are up 1 point, we are basically flat, other indicators still moving higher. let's move on because now there is this. >> the house will begin a formal impeachment inquiry of president trump. >> mick mulvaney adequate today

ukraine quid pro quo at the center of impeachment inquiry. >> to hear historic testimony on potential impeachment of president donald trump. >> house democrats unveiled two charges against president trump. >> he's the only the third president in history to be impeached. stuart: there you have it, the media and their breathless coverage of president trump's impeachment. since democrats began the impeachment push the network's coverage of it has been negative, big time, ash, i need the numbers. ashley: let's bring up the boards, this is quite shocking, we know this is true, we know many in the mainstream media like to say only have one narrative, look at this, first 100 days of impeachment, cbs,nbc newscast, 93% of the coverage was negative, so you think, okay, well, they have to give some coverage surely to the trade deals, the china trade deal, the economy for crying out

loud, the record-breaking markets, no, none of that, in fact, if you look at percentages of how much given over, here we go, media coverage, the economy in minutes, 9 minutes, if you look at the impeachment, 849 minutes, now this january withdrawing troops in syria, fighting isis, north korea relations number 4 and immigration at the very bottom, they discuss trade and economy, let's face it, what's going with trade and economy doesn't fit the narrative. they don't even mention it. stuart: brilliant stiller performance by the economy. let's stay on the media, why not? usmca passed on thursday, the media didn't care, i think we got numbers on that, media coverage of usmca, what do you have, lauren? lauren: the number is zero. it's zero. stuart: what? lauren: if you look at the evening coverage of usmca on abc

and nbc and cbs, zero minutes each, in fact, it gets a little bit better, if you look at politico, their headline, the original headline was the senate passes usmca, major win for donald trump, revised the headline and it read senate passes usmca but much work remains and if you read the article it was actually pretty positive. stuart: that was the original, okay. >> the new one. stuart: that's the new headline, the one right there, the original headline which lasted an hour or two, i believe, was something like major win for trump. lauren: yes. ashley: exactly, right there. >> this is why people are not anticipating how it gets no coverage. stuart: how could people know? you watch nightly news impeachment. what about usmca, what about the

economy, what about china trade deal? ashley: there are people that get all the news from that side don't know anything. stuart: it's absolutely deliberate. deliberate, the media does not want the real action of president trump, so anything that's good is off the air, everything that might be bad is on the air. [laughter] >> i think i got your point on that, stuart, i'm with you. stuart: it drives me up the wall. i'm in the media, we are the media for heaven's sake and i see everybody else just confusing the issues of the day, confusing finance, the economy and the markets, it drives me up the wall but i will calm down. [laughter] >> do we have larry kudlow yet, not yet, we are working on it, we are trying to mic him up as we speak, the champion's hour, of course, we had the champion lsu on there, we've got the

champion stock market to report on the economy, pointed out by my professor colleague right here. >> still not champion status, however. ashley: i'm working on it, brian. stuart: i'm sure larry kudlow is watching, i will not call him the champion economic adviser to the president. ashley: well, things have gone very well. stuart: champion economy. lauren: we've already had 5 record closes for the s&p and the nasdaq. it's only january 17th. [laughter] lauren: 5, 4 for the dow. stuart: we are getting greedy. stuart: looked who just rolled into place. [laughter] stuart: this is called rock and roll. meeting at the white house which we have covered, we are waiting for larry kudlow to appear, we have stocks starting to go back up again, this is rock and roll, this is live news, that's why

it's compelling, that's why we have been on the air for ten years. how are you doing, sir? >> how are you? >> the bull market runs on, does it? >> apparently, yes. i mean, that's for sure. stuart: come on, let's have enthusiasm here. the bull market runs on? >> it was up 8 and a half percent in the first quarter, i'm sorry, fourth quarter last year, we are up 3% now on the s&p, so far year to date. it's been a very phenomenal run since the end of the third quarter. stuart: extraordinary, thanks very much for being with us, i'm not saying good-bye at this moment but i'm saying we have larry kudlow mic'ed up, i'm not going to call him the clamp own adviser but i'm sure he's like that and i know he's listening, come on smile, larry. [laughter] stuart: okay, larry, maybe start with this, this morning we got what i think extraordinary housing start numbers. does that suggest that the housing market is about to pick

up nicely and help the economy as we go through the year. >> yes, clearly, i mean, we've had a nice sort of transition roll-up in all of the housing numbers in the last, i don't know, stuart, 3, 4 months, a lot of it is because of lower interest rates, mortgage rates are way down i think a full percentage point, a lot of it is because the job's numbers are strong and wage numbers are strong, so people have pretty good affordability, the only issue there is let's build more houses, i mean, people have said there's not enough inventory at the right middle-class price point, but, yes, this is going to help us on the gdp number. we have been focusing precisely on that, secretary carson has been focusing and others have helped out, the president is

trying to deregulate, permitting, as you know, environmental permitting and we've just encouraged those home builders to get moving, but economics of it are good, incomes and wages are up, interest rates are down and you'll see better in the fourth quarter and i see you're going to see a carryover in the first quarter of 2020. stuart: now our own charlie gasparino reported just the other day thinking about tax cuts 2.0, you appeared on fox business and talked a little about it but you wouldn't be specific, what we are hearing is that it might be a cut in the payroll tax and the more generous earned income tax credit, would you be able to comment on those specifics, sir? >> well, two things quickly, this is not new news. i talked to you and others about tax cuts 2.0 going back several months, so point number 1, and i am -- had a very fruitful hour

and a half with kevin brady, and i believe chairman of houses ways and means committee, we will be con culting with our -- consulting with our friends in the senate and we are all working together on this, i don't want to get specific, but i just -- look, we want to aim this at middle-class tax relief, we want to aim this at even faster economic growth going out second term, i don't want to get specifics, i feel compelled, i don't know where the payroll tax cut stuff comes from, it's not high on the list, there are a number of other issues, again, for middle class, income tax brackets, you mentioned the earned income, that's something we are looking at, we will certainly keep the child tax credits, the kiddy tax credits and so forth, we might want to

make permanent on the individual side and on the corporate side, i'm thinking especially of expensing, immediate expensing which is a very powerful tonic for business investment. stuart: are you basically saying, look, reelect president trump for 4 more years and you'll get fiscal stimulus, that's it, isn't it? >> you'll get lower tax rates and lower tax burdens, you'll also get continuation of the opening of the energy markets that have made us the world's largest producer, we don't need the middle east anymore, you'll also get additional trade activity, negotiations an trade deals that would open markets and end unfair trading practices by so-called trading partners,

now, look -- well, yes, we will be talking to the brits, we are talking to the europeans, we are talking to the japanese, we have pretty good japanese trade deal. the china trade deal is a historic deal and i'm more than happy to talk about that some more, i want to add the usmca trade deal that passed the senate virtually unanimously or bipartisanly, by the way, usmca, can i pause on this, they open markets, they lower barriers, they content on usmca just, stuart, the midpointgrowth estimates, i3 quarters of a percentage point to gdp, it will add more or less

350 to 375,000 jobs per year and a hundred billion in foreign investment into the united states and this is progrowth and it helps all across the board, okay, helps farmers, it helps manufacturing, automobiles, it also helps technology and investment, you know, in usmca, please don't overlook the fact that this is the strongest protections for intellectual property rights, that's never been written in a deal like this before and it is very similar, you know, on china, we opened the doors with friends in canada and méxico to protect copyrights and manner of ip and that's the technology heart of the american economy, that's why this is so growth, we also gained currency stability which is a big plus and we also increased financial services in addition to domestic content going into 75%, so i just want to emphasize the

growth aspect. stuart: exactly. you've layed out the growth aspects from usmca, 3 quarters of 1 percent added to gdp. that's just usmca. >> that's the midpoint of international commission range. stuart: what about the china trade deal, what does that contribute to growth rate? >> we had estimated something like half percent of gdp add-on per year and that will begin in 2020, the export numbers by themselves will be a major help in the farming sector but the manufacturing sector, you know, we targeted 40, $50 billion of farm exports by lowering trade barriers as well as tariff. let's not forget 75 billion in u.s. manufacturing exports to china is a key part of the deal

along with $50 billion in energy and i think about $40 billion in services mostly financial services, so, you know, if these export transactions are completed in the next couple of years, st, that stimulates the farming sector, the equipment sector, the technology sector, it would stimulate sector -- so important and i've said a million times, automobiles, technology, software, we are number 1 competitive in the world. number 1. stuart: stimulus from the china trade deal, stimulus from usmca,

going forward. can we get 3% growth? can we get it? >> i think we can, okay. it's going to be better than some folks think. i think we can get 3%. i would love it if boeing started producing and delivering airplanes, okay, so boeing may that's half percentage point early this winter we had boeing people in and they are working nicely and very hard. we've had monetary policy and besides the trade deals and the monetary policy, there's some early indications, you look at some of the cracker jack wall street economists like ed hime and others, looks like global

pmi's, global, are starting to improve a little bit so the drag from the world recession may be mitigating somewhat you know me, i will play from optimistic side, you take the number and i will have the over. stuart: okay, i don't do football analogies you see. [laughter] stuart: i just watched the lsu team in the white house that was pretty good. let me move on shall i please? phase 2 the china trade deal will talks begin immediately because phase 1 is signed? >> the answer is yes, the answer is essentially yes, the president talked about it with vice premier, we had our private luncheon after the beautiful signing ceremony 2 days ago, the answer is essentially yes. i don't think any trips have been scheduled yet but everybody is ready to jump in and, you

know, stuart, i want to make this point, the president said this and i will put it out, he believes phase 1 was the heavy lift, face 1 was the most important and if phase 2 flows from phase 1. they should make it large, this is a historical group, the scope and size of phase 1, two great powers, the united states and china, nothing and i mean nothing like this has ever happened before, now, you can question whether china will live up to the agreement, that's a fair question and very strong enforcement provisions in there, but i think going into that, the mood music is good, the

attitudes are very positive, phase 1 is a historic earth-shaking deal and that's going to get us through phase 2. stuart: do you guys ever get worry when you see the stock market go straight up, the market that can be characterized right now as melt-up situation, does that make you a little nervous? >> well, look, the economy is fundamentally sound, you know, we are posting the best growth numbers in many, many years, the job's numbers, the unemployment decline, the absence of any inflation, so i think a sound economy is the key, you know, you were mentioning before about the -- in a second trump term, let me make this point, i think that the market and i think men and women in business and i think men and women who have been benefited from the low unemployment rate in all these

cohorts and categories, women who now lead the labor force, hispanics, african americans, even millennials, look, everyone is benefiting from the trump boom, this is a middle middle-class-type boom. what you don't want to do and this would affect the stock market, you don't want to change this, you don't want to change progrowth policies, right now it's not at all hospitable either to the stock market and the economy or to small businessmen and women. i think that's a -- of very importance. i think people are going to be

wrong, pollsters may not see it right now, you are going to see new votes from a lot of different demographic sectors that we have not seen in the past. my recent favorites, i love to talk about the millennials, everybody tells me the millennials are all socialists, well, you know what, when you're in mid to late 20's and early 30's which are millennials and you are working and you are developing a career, you certainly begin to understand what free enterprise is all about, not socialism but free enterprise and i believe many of those young folks, they are embarking on the career, you know and i should remember when we were in mid-20's, changed a lot of attitudes and that includes voting attitudes, i think socialism loses and

enterprise wins, you wait to see, kudlow forecast, he will do so much better with the young folks than people realized and some other demographic groups also. stuart: did you have to refer you and i meeting for the first time 50 years ago, a half century ago, did you have to bring that in? yes, you did. >> i tell you, stuart varney, nobody better in the business, there's nobody better in the business than you, it's a pleasure, a pleasure and i mean that sincerely. stuart: that's very kind of you, larry, it really is appreciated. by the way, we are celebrating 10 years on the air, we celebrate on monday, you've been a part of this, i know you probably can't come on the show on monday but if you ever wanted to, if you just -- if you were working that day and you just felt like you wanted to get in front of the camera, brush up on broadcasting techniques, if you really wanted to do that, you're a guest. >> i'm in -- i'm in geneva and davos that day. stuart: even better. >> we will see, i'd love to help

you out, you know very few people, very few living people know that on another network i was washington correspondent that i used to come up at 6:30 and lou dobbs was big boss, another network, he gave me a box of cigars. [laughter] >> long time ago. you're right about 40 years ago. stuart: you were under secretary of treasury. >> omb, deputy of economics at omb. stuart: i was the guy who woke you up at 5:30 in the morning and said, where are you, larry, you are supposed to be in the studio. >> i look back on that and i don't know how the heck i did it. [laughter] stuart: it was always a pleasure, thank you for joining us. larry kudlow there. where do you go after that? ashley: that was great.

stuart: our economist at the moment is with us, let's follow up on what he had to say there, 3 quarters of 1% added to the economy because of usmca, half percentage point added to gdp because of the china trade deal, 3% growth maybe for 2020, that's quite a forecast. >> yeah, you were raising your eyebrows when i said half percent for usmca, you almost jumped out of the chair when he said 3 quarters, it's growth, growth, growth, they are pulling out the stops, people are underestimating what a lift we can get from usmca, we can get a big lift from china, look, if they do the middle-class tax cuts and you add that to the picture, this is a growth story we haven't seen for a long time, 3% is definitely within the realm of possibility by the end of 2020. stuart: well, you will listen to this, sir, you heard exactly what he had to say, now you're a stock market guy, what's your comment? >> yeah, look, if we get 3% gdp

growth that is not in the market's expectations at this point. the market is looking for earnings growth this year mid-single digits, if we have 3% gdp growth you are talking double-digit earnings growth and i think that's not priced in, i think there's more upside if that happens. stuart: the president's chief economic adviser is going to be optimist, he's not going to come on the air and say doom and gloom, here we go, he's not going to say that, do you think he might be right? 3% growth? what are the odds here? >> we are not seeing that yet, we need to see pick up in capital spending and businesses, especially on the business side, that's where there's been a lot of weakness over the last 18 months, if we see businesses starting to open up purse springs, we could see the 3% growth. >> that's exactly what larry kudlow is pointing to, he's talking about expensing, that's

what opens up the pursestrings. stuart: impeachment, china trade, record after record on the stock market, my colleague and friend larry elder joining us now, what's your take on -- i'm calling this a historic week, another one, what's your take? >> of course, it's a host -- historic week, it's huge, of course, the president has been impeached and the articles of impeachment have been taken over to the senate by nancy pelosi, stuart, i would like to ask people to imagine how the country would be if a popular president like barack obama had been impeached based upon a record this thin, imagine had 25% of their public and delegation boycotted his inaugural the way 25% of the democrats boycotted a trump inaugural, imagine a dozen

republicans boycotting first state of the union speech, imagine the 2 and a half year investigation for collusion drilling a dry hole and then imagine a whistleblower complaint, a complaint who by the way goes to intel committee chaired by adam schiff, imagine an intel chaired by a republican, the country, stuart, would look like australia on fire. stuart: i think you're right and it's almost an unimaginable situation. >> right. stuart: we just did not treat president obama and he didn't deserved to be treated badly either, but we didn't treat him in any way, shape or form the way we treat this president. not we, me, this program, this network, but the vast majority of the media out there. i'm up in arms about it, larry, i just don't like it, seems wrong to me. >> it's outrageous, i remember actor morgan freeman went on television complained that mitch mcconnell that he wanted obama

to be a one-term president and morgan suggested that that was racist. people did not agree with policies, of course, mitch mcconnell wanted him to be a one-term president just the way nancy pelosi wants trump to be a one-term president, is nancy pelosi a racist for wanting that? the late night comics virtually made no jokes about obama and the economy doing well, he's been impeached, are you kidding me? [laughter] stuart: well said, quickly, an opinion piece in the wall street journal, look at this one, please, can trump earn black support? well black unemployment at record lows, the president got what 8% of the black vote in 2016, you think he's going to improve and increase that proportion? >> absolutely, don't forget the first step that allows people behind bars, sentences revisited, a thousand people have been benefited, 90% of them have been black men who had

sentenced reduced in average of 70 months, he's doing something about illegal immigration and the economists like george say unskilled pose competition, he did loyalties for digitals, downloads, obama didn't do, he pardoned jack johnson, the first black heavy weight champion, pardoned a woman named ellis johnson for nonviolent drug offense, very lengthy sentence, you add it all together, the man will get over 30% of the black vote. stuart: whoa, whoa, over 30% of the black vote in 2020? >> even the ncaaap polled put it at 21%, i haven't seen any poll under that. he's going to get at least double if not triple quadruple the amount support he got in 2016 and going to be a game-changer. stuart: yes, it would be.

without the black vote a democrat probably would have a very hard time being elected president and if mr. trump gets 20% of the black vote it is over. >> it's done. it's done. it really is. and i think it's going to happen, the number one reason that black people voted for president obama was economy, worst economic recovery since 1949, first president to reside over economy without at least 3% gdp in one year, so for all those reasons we are looking at a big, big black turnout for donald trump in 2020 in my humble opinion. stuart: okay, hold on for one second, brian brendberg is still with me. i keep getting your comments. [laughter] stuart: can the president get that high a proportionate of the black vote? >> well, that's a big -- 30% is a huge number. i think the point is economically i don't care what your ideology is, it's very hard to argue with record low unemployment when your wages are

rising and we know that they're rising especially for those at the bottom end of the income scale, you've got to take a hard look at that when you cast your vote and i agree with larry, i think that's going to move some people in 2020 that didn't move for the president in 2016. stuart: last word, larry, i have to say, look, people brand president trump a racist. it's not going to stop a lot of black folks from voting for him? >> well, if he's a racist he's the worst one i've ever seen, he needs to go back to racism school, unemployment all-time low. the expansion of enterprise zones to benefit inner cities, he's the worst racist i've ever seen, he needs to go back to racism school. stuart: the line will live for a long time. [laughter] stuart: great stuff, thank you very much for being with us, i'm much oblige today you. i will go around the table, we are wrapping what i consider a historic, anything to add?

>> i think the bull market is intact, i think there's more upside, but, look, it's been a good 3 months, 3 plus months, i wouldn't be surprised to see some sort of consolidation in the markets, take a breath. stuart: i agree, everybody is thinking, you go up and up and up you do it a long time you melt up and at some point you come down a little bit, don't you, that's why people are worried about. ashley: still regret it? what a great week for the president, i have to be honest. i get all of that and i know that a lot of networks aren't covering as much but the trade deals and to the points that have come up today the usmca is bigger deal that people give create. yeah, the china deal great if it all pans out, don't forget the new reform nafta, big news. lauren: you have the democrat debate one night and you have the president rally at the same time and then you see with

impeachment and the trade deals being signed and i think next week and when the president is in davos and the impeachment trial begins, seems like more is happening now economically speaking even passing the trade deals now that there's pressure. stuart: got it. i will take a moment to look ahead into monday. hard to believe. we have a very big show for you lined up. show me what we got? we have a list there? ashley: let's have a look. stuart: put it on because i can't see it right now. ashley: can we get some cake? stuart: we don't have a list, we have special guest.

[laughter] stuart: they are saying it's going to be a surprised guest, not good enough, not good enough. we might get larry kudlow back. ashley: yes. stuart: is it davos or davos? >> are you going to wear a hat? stuart: never. you've not been around for 10 years on the show. >> not on the show, no. [laughter] lauren: awkward. [laughter] >> we will celebrate big time on monday, the market will be closed but -- ashley: more time to have fun.

stuart: we are open and the other guys, our competition, they are all closed down. i think they are all on tape, you can see those wonderful things from 2 years ago if that's what you really want. >> ten years is when you get a diamond. so you need to spring for diamonds. [laughter]. now it's quiet there. congratulations and in the meantime, markets are a strong economy. it certainly is doing well. on days for second street. how things start, is really been a big news here. searching in the sematech a 13 year high. the dow is not to have percent