kelly-jane, and wearing the red pen for cardiovascular health for women, while charles' wife has had a heart transplant. we pray for him and his family every single day. prosperity, everybody. that does it for us. "varney & company" starts now. vice president and larry kudlow. stuart. stuart: good morning, dagen. good morning, everyone. good morning, everybody out there. it's jobs friday. we have the report. i will characterize it as follows. very strong. in fact, terrific. i don't care for expectations or estimates. suffice it to say this economy is booming. take a look at the numbers. 225,000 new jobs and the numbers for november and december were revised upward. wages up 3.1% over the past year. not bad. strong labor participation. the rates, up to 63.4%. very significant. this strong economy is bringing people back into the work force. in fact, 183,000 people

re-entered the marketplace, i should say the work force in one month. they are now drawing a paycheck, 183,000 new workers in one month. look at the market reaction. can't quite explain this. it's muted after a series of big gains, we will retrace a little at the opening bell. now, in the news this morning, a phone call between president trump and china's leader xi jinping. the president says xi is sharp, strong and powerfully focused on leading the counter-attack on the coronavirus. and the president says mr. xi will be successful. that's what the president says. at home, a cruise ship docked in new jersey this morning with 12 chinese nationals on board. they have been quarantined. all the passengers will be screened. for investors, we are talking about the virus, the question is

how long and how much of china will be locked down and what impact that has on their economy and ours. that's the question for investors about the virus this morning. big show coming up. 9:35, just as the market opens, we will have larry kudlow with us. i expect a lot of smiles from him. the economy seems to be in a new wave of growth and the housing market looks set to expand as well. at 11:00 eastern this morning, vice president mike pence will be with us. that's what's coming up at you. two big guests and a blowout jobs report. "varney & company" is about to begin. ♪ stuart: i'm happy. okay. that's why we're playing the song. you have a lot of reasons to be happy this morning. it's been a triumphant week for the president. the impeachment circus is over.

president trump fully acquitted. he's going to continue his victory lap today. he heads to north carolina about 11:00 this morning. he may speak to reporters and of course, if he does, you will hear it right here. more maybe of president trump unleashed. now to the morning's jobs report. joining us, greg valiere, market watcher john layfield also here. greg, your reaction to the january jobs report. >> the g-word. once again, goldilocks. you just can't ask for a better set of data. phenomenal report. i think you could see a recovery or an economy that could grow at 2.5% for several quarters. the idea that a recession is imminent which dominated the news a year ago, that's totally out the window. stuart: greg, stay there, please. john layfield, your hautthought? >> i completely agree. the biggest thing was 183,000

people back into the work force. we need welders and electricians and the question is where will we find them. what the president brought up in the state of the union as far as working with inner city education and trade schools is very important for our economy, those people coming back to the job force. stuart: before we move on, can you explain why the market, the dow industrials, are going to be down about 100 after a jobs report like that? >> i think it's just a sensational year we have had in the dow. this is such a small percentage. not a big deal. stuart: due for a pullback? >> in my opinion, yes. stuart: okay. got it. back toushgs gr you, greg. i want to bring in politics. this is my opinion. i say the democrats are imploding and as that's happening, the market's been going up. is there a connection? >> could be. it takes a lot to shock me. you and i have been doing this for a long time. but when i saw the numbers for joe biden, out of iowa, and he's not going to do well in new hampshire on tuesday, this is a party in deep, deep disarray. do they hold their nose and go for mike bloomberg?

is buttigieg really a credible candidate? this is a really weak field of opponents and moreover, how can they claim that the economy is hurting most americans. they can't paint a picture like that. stuart: it's all pointing towards the probable re-election of president trump, and i think, i don't want to speak for investors, but i think that's what investors want, right, greg? >> yes. i think the markets could live with biden. he's a free trader. maybe they could live with bloomberg, who is from wall street. but no, the s&p is up over 50% since trump was inaugurated so of course the market's favoring him. stuart: you know, i want to talk about the democrats keep saying the economy's not working for everyone, it's just -- or not working, it's not fair. respond to that. >> they seem to have lost. the market does not want sanders and warren whatsoever. i think greg's right. buttigieg would be fine, bloomberg would be fine with the market but incumbents tend to get re-elected. only three in the last hundred years have not. look at hoover, bush and carter,

all because of the economy. when the economy's good, presidents get re-elected. the democrats are in a bind here. stuart: i will move on. please stay there. more for you in a moment. let's go to uber. it's going to open nearly 6% higher this morning. susan li at the new york stock exchange, can you tell me why uber looks to be up about 6%? susan: well, they say they will be profitable outside of expenses a year earlier than expected, in the fourth quarter of this year, 2020, and that's because they did better than expected. i know, i know, but still, they had growth in food delivery and ride hailing and they lost less money. $1.1 billion in the quarter but $250 million of that was in stock-based compensation and the ceo, dara khosrowshahi, saying this era, we recognize the era of growth at all costs, is over, it's done. it's about making money at this

point and in a world where investors are increasingly looking for growth and profitability, that's where he's taking the company right now. but here's the caveat, he expects all things to stay equal and stay even in terms of politics and the ab-5, that law that could possibly reclassify drivers as employees in the california, he's projecting that's not going to go anywhere. london as well, they are still appealing the loss of their license and hoping to get that back as well. stuart: can you give me 20 seconds on this idea of a subscription service for uber? heard about that? susan: yes. a subscription service. they are looking at different ways to make money at this point, meaning that per month, you pay a service fee and you get a certain amount of rides and also, they are trying to get into advertising as well. different ways to try to get to that profitable level outside of expenses by fourth quarter this year. stuart: subscription service income stream. susan: recurring revenue. stuart: thanks very much. back to you shortly. look at tesla, please.

that stock has been all over the place this week, way up, way down. this morning, it's settling, if i can call -- i can't really say that, down 11 bucks but just above the $700 per share level. $737, tesla right now. casper, the mattress company, largely online mattress seller, went way up yesterday. it's up a little bit more in the early trading today. it's up another 2.5%, by the way. casper. overall, we are going to be down at the opening bell. i'm a little surprised at that, with a terrific jobs report but nonetheless, down about 100 for the dow, 10 for the s&p, 30 odd points for the nasdaq. coming up, 11:00 this morning, eastern time that is, mr. trump goes to north carolina. he's touting those opportunity zones. when he leaves, he may speak to reporters. usual story here. he can't resist those reporter questions. i'm glad to say. we will run it whatever he says to you. have to tell you again about the real good lineup we've got. larry kudlow, by the way, he

will be on our show about 9:30-ish, maybe 9:35, right after the market opens. that's larry kudlow. top guy at the white house on economics. in the third hour of "varney & company" again, we've got mike pence. i have to tell you that twice. why not? big guest. he won't be on the air twice but i'm promoting him twice. that will be mike pence at 11:00. i will ask him about the pelosi rip-up, by the way. after all, he was standing right there, wasn't he. more "varney" after this.

stuart: not so rosy forecast from the maker of call of duty, activision. the stock is up 2% nonetheless. there's a lot of electronic game playing in china these days because they are all locked down and locked in. activision up $1.29. higher profit coming at t-mobile and it is up nicely. $83 a share there.

look at ford. the president of automotive is going to retire and ford's going to name their strategy chief, jim farley, as chief operating officer. the stock is languishing. $8.24 a share. but it pays a 7% dividend. amazon, they are going to bring 1,000 new jobs to their first ever fulfillment center in iowa. they are doing that by the end of the year. they are everywhere. lauren: they have 175 fulfillment centers worldwide and now one is coming the end of this year to iowa. of course, high-paying jobs. these workers will be packing packages and the like working alongside robots but still, 1,000 workers is a lot. what the state lawmakers are doing there is saying come on in, amazon. we are going to give you six years of tax incentives and then we are going to spend about $16 million to beef up our local infrastructure so these workers can get to work faster and you can get the items out of the fulfillment centers faster. so that's a very

business-friendly approach, if you ask me. stuart: that's iowa. they should have them around the caucuses. sorry. lauren: that would be chaos, stuart. stuart: amazon could run a caucus. the democrats cannot. that's the way it is. come on. great week for politics. a war of words between president trump and speaker pelosi. you know we have the tape. roll it. >> it was evil, it was corrupt. this should never, ever happen to another president. >> you're impeached forever. you're never getting rid of that scar. to me looked like he was a little sedated. he looked that way last year, too. >> we first went through russia, russia, russia. it was all bull [ bleep ]. >> he's shredding the constitution in his conduct. i shredded the state of his mind address. stuart: the state of his mind. that was interesting. there's a lot more of that. we just clipped it all the way down to make it short. come in, liz harrington, rnc spokesperson.

first, i'm sure you approved of what president trump had to say there but how would you characterize speaker pelosi's statements? >> well, absolutely i agree with what president trump said. he said she's a horrible person and you look, what type of person rips up the names of charles mcgee, a 100-year-old tuskegee airman, what kind of person rips up the name of kala mueller, what kind of person rips up the name of elie schneider, 2-year-old born at 21 weeks and six days and what's the type of person that rips up the name of jeniah davis, fourth grader in philadelphia that just got a scholarship but refused to stand and applaud that? a horrible person. nancy pelosi is just mad because all she has to show for her one year majority is a lousy impeachment pen and an impeachment that failed because president trump is going to be acquitted forever. stuart: let me move on to the latest new hampshire poll. it's kind of a blockbuster. pete buttigieg has caught up with bernie sanders but the real

big deal in this poll, as far as i'm concerned, joe biden's fallen off a cliff. look at that. he's got 11% support. he's in fourth place. that's a new hampshire tracking poll. by the way, joe biden is down, i think it's 11 points in -- no, he's down seven points in three days. that's falling off a cliff. what do you make of this? >> what happened to mr. electability who has been running for president since the 1980s, has yet to win a primary or caucus. this is what's been so laughable about this whole impeachment sham, charade, election meddling. we always knew joe biden, who has been running for president for decades, has never made it out of iowa before. why would he make it out of iowa now. he's got a huge problem. but they have a problem overall because you know why. they were nervous going into voting on monday for the iowa caucuses. you saw the headlines everywhere. democrats are anxious, they're nervous. why? because they know they don't have a candidate that can take

on president trump. they can't take on his economy. they can't take on that state of the union speech with all the record accomplishments and they are depressed and they should be. stuart: real fast, the democrats debate tonight in new hampshire, 8:00 eastern time it starts. i know you will watch. you will watch -- >> i have to. the rest of the country -- stuart: you're going to take those little sound bites and put them into ads. i know you're going to do that. >> yeah do god's work. we suffer through these boring debates. no one else in the country is going to be watching, unfortunately, but we will suffer through it. stuart: liz harrington, thanks for being with us. we do appreciate it. we are going to ask viewers the question, are you going to watch the debate in new hampshire tonight. it starts at 8:00, goes through until probably 11:00. i will be in bed and asleep. i wonder how many of you will actually watch it. get to us and tell us what you are thinking at varneyviewers@foxbusiness.com. there you go. bottom of the screen.

you can communicate with us. check futures, down slightly at the opening bell this friday morning. all across the board, down about 100 for the dow. the best is yet to come on this program. larry kudlow around 9:35 today, 11:00 eastern, vice president mike pence. more after this. st. bernard pup, and my lack of impulse control, is about to become your problem. ahh no, come on. i saw you eating poop earlier. hey! my focus is on the road, and that's saving me cash with drivewise. who's the dummy now? whoof! whoof! so get allstate where good drivers save 40% for avoiding mayhem, like me. sorry! he's a baby!

stuart: a cruise ship docked in new jersey this morning, the travelers on it will be screened for the coronavirus. tell me more. lauren: i want to highlight this is new jersey. this is not hong kong or japan. it's the royal caribbean anthem of the seas and there were 12 chinese nationals on board. the mayor of bayonne, new jersey says they were all screened, four of them were sent to a local hospital for additional screeni screening. so this makes people worried, what happens to the rest of the passengers that are on that tremendous ship, as we fight to, you know, spread -- to prevent the spreading of this virus. royal caribbean put out a statement and they are saying look, if you have been in touch with or contact in any of these affected areas in the past 15 days, you can no longer sail on our ships. that's just the way it is. stuart: there's an extraordinary human story around the world and that is these cruise ships where there is a case of the virus on

board and they are all quarantined and then some of these cruise ships, they are in their little cabins, they can't get out, can't get them out the door, there's no window, and they are there for 14 days. can you imagine that? lauren: no, i cannot. in fact, on one of those cruise ships, the entertainment staff was just calling some of the rooms to entertain the guests. stuart: is that right? lauren: beef up the wifi so they can watch more shows on their smartphones. because yeah, you are cut off. stuart: the president spoke to xi jinping, china's leader, about the virus this morning. it was on the phone, it was a phone conversation between the two, and the president then put out this tweet. sharp, strong and powerfully focused on leading the counter-attack on the coronavirus. that's just part of the tweet. that's mr. trump speaking there. greg is still with us. look, i have to ask you this. do you believe what china is saying about the virus? within china? >> i think they lost a lot of credibility. they weren't ready for this, they didn't have the equipment, they didn't even have enough

surgical masks. i think they are still trying to scramble. their credibility has taken a hit. stuart: but they have taken draconian measures to clamp down on 55 million people. how long that goes on will make a big difference to the performance of china's economy, i think. >> absolutely. it's so hard to find anything to worry about after a number like this morning's. but one thing you do have to worry about is a steadily declining chinese economy. that's not a good story. stuart: all right. thank you, greg. coming up, the opening of the market. we will take you to wall street, where the futures indicate a downside move and of course, larry kudlow coming up. ( ♪ ) hey there! i'm lonnie from lonnie's lumber. if you need lumber wood, lonnie's is better than good. we got oak, cherry, walnut, and more.

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stuart: moments away from the stock market opening, about two minutes, in fact. look, we are going to be down at the opening bell. i find that rather strange after a blockbuster jobs report. help me explain it, please, john layfield is with us, greg valiere and lauren simonetti with us. john, i asked you earlier why is the market retreating in the face of this blockbuster jobs report? >> i think it's the threat of coronavirus. it's the unknown of what is out there. if it's what it is right now, it's contained, but if it spreads, we don't know what's going to happen. what's going on with the market, the jobs number was terrific.

jamie dimon coming out with jpmorgan, the very first, used to be ge to come out, now it's jpmorgan, giving us a sanguine look into earnings. the market's doing fine. just a little pullback. stuart: greg, do you think the -- i think the problem with the virus, i'm speaking strictly in stock market terms, we don't know how long this is going to go on, the lockdown in china, and we don't know the impact on china's economy, therefore, we don't know the impact on our economy. that's the uncertainty that investors have to deal with when it comes to the virus. >> yes. i think you're right. let me add one other thing, stuart. president trump wants the fed to cut rates more. he will probably call for it in the next few weeks. after a number as great as this morning's number, the chances of a fed rate cut any time soon are zero. stuart: i was going to say that, actually. i was going to wind that into my wrapup. you are absolutely right. when they start clapping and cheering you know the market is about to open.

this is friday morning, the end of a tumultuous week both in politics and in money. in ten seconds we will find out how far down the market goes at the opening bell. of course, i have no clue how it's going to close this friday afternoon. here we go. 9:30. we are off, we're running. we get the very very early -- there you have the big board. about two-thirds of the dow 30 are on the downside. in the first seconds of business, we are down 120 points for the dow industrials. greg, you are still there. don't worry. you've got your mic on. okay. the s&p 500. show me that, please. that is down about .33%, 12 points lower. the nasdaq composite, that is down as well. not so much. yes, it is. it is. that is down a half percentage point. we are down across the board. look at uber. this is how they are trading this morning. the ceo said they will be profitable by the end of this year. they have been cutting costs and

they've got a big jump in their food business and they have hit $40 a share as of right now. right out of the gate there. mattress company casper, now it's on its second day of trading. a pop of 12% yesterday. i'm not sure we've got a quote yet. it says unchanged. let's see how that develops. don't forget the trillion dollar club. big tech names, we talk about them every single day. on your screens now, apple, amazon, microsoft, alphabet, all still trillion dollar companies even at that level. casper has now opened and we are up a little bit more. not bad. nearly 3.8%. the producer said they were sleeping. very good. very good. mattress company, you got that. very good, producer. very good. $13.85 on casper. uber, back there, the ceo says they will be profitable by the end of this year. john, he said profitable by the end of this year. would you buy them? >> absolutely not. this is a great company, it's changed the economy, changed ride sharing, changed how people get around but it's priced to

perfection right now and most importantly, any regulatory problem that you have could really hurt the stock. you have politicians in all kinds of cities around the world going after this company. lauren: they are doing well in the food business. they might have a subscription service. dara khosrowshahi said when a customer tries something else that they offer like food, their usage of uber triples as a result. that's retention. stuart: greg, still got your microphone on? >> yes, sorry. stuart: we like you to chime in whenever you feel like it. get right in there. i want you to talk about the regulatory environment for uber. they've got this problem in california, i don't know what the name of the law is but it's really messing them up. can they get over that? >> it's a local issue, stuart. i don't think it's a national issue. i think nationally, antitrust policy is going to be extraordinarily laissez-faire. stuart: johnson & johnson have been ordered to pay $750 million in a new jersey baby powder case. the stock is hardly reacting. lauren: these are punitive damages. it's the second payout to these

four victims, first time the award was about $37 million. the second, $750 million will eventually be lowered because of new jersey state law but this is an overhang for j & j. about 17,000 lawsuits related to their talcum powder causing either some sort of lung or other cancer. stuart: greg, i want you on this one. it seems to me the trial bar is just trying to take apart american companies and just take them for everything they've got. i don't like it. >> no, and i think that's another problem with the democrats' agenda. let's break up the most successful industry in american history, the tech companies, let's break up the banks, let's break up the drug companies. i think this rhetoric unnerves people. it certainly unnerves investors. thankfully it's not going to happen. stuart: show me tesla. where are they this morning? they have been all over the place recently. they are up today, 2% higher at $764. they have been -- well, they took a haircut after reaching $968. one big name tech watcher, he

says -- he has said, gene munster, it was going to go to $900. what's he saying now? has he walked it back a little? lauren: maybe he has. i will let you know about that. stuart: thank you very much indeed. okay. munster says $900. i think he walked it back a bit. it's now $760 a share. move on. oh, look at this. now we are down 190 points. 29,100. look at that. down 185. couple of other stocks moving. pinterest reported more monthly active users, more money coming over the transom. investors like it, up 13%. myriad genetics down after profits were down, well, didn't meet, here we go, expectations. the meaimmediate exit of the ce more to the point. the stock is down 32%. the ten-year treasury, what's the yield? 1.58%. the yield is down.

that means that money is going into the treasury, price up, yield down. i think i got that right. lauren: you got that right. stuart: i'm confused sometimes. where's the price of gold this morning? it is $1,577 per ounce. and oil, this is a key factor, oil at 50 bucks, barely above $50 a barrel level. that's a big deal for the market. >> a huge deal. stuart: oil companies getting killed here. >> i own a bunch of oil majors. the coronavirus hit, it's been an absolute disaster for oil companies. stuart: the drillers in america, the frackers who i love, they are -- >> if you look out ten years from now, say what will oil prices be, most people say it will be lower. that's a bad sign for drillers. only chevron is a colorado i would own. stuart: i hear signs of agreement from greg? >> i think so. the middle east which is always a key variable has calmed down, when we took out that iranian general, that sent a signal to

all the bad guys in the middle east, we know where you live. i think we will see less tension in that part of the world, which is bearish for the price of oil. stuart: we knocked off another major terrorist this morning and the price of gasoline is down 14 cents in one month. which i kind of like. back to the january jobs report. and bring in white house economist larry kudlow. i want to see a smile, larry. i'm not seeing it yet. there you go. okay. go ahead. take your victory lap. because i think that was a terrific jobs report. >> yeah, it's a blowout number. 225. by the way, the household survey which is heavily weighted toward smaller business was up 418,000 and stu, i want to couple this, we have had a whole spate of good news for the month of january. ism manufacturing got back to 50, ism services got back to 60, which is really a blowout number, extremely strong housing

numbers, unemployment claims rock bottom. they may go below 200,000 next few weeks. that's a great leading indicator. and of course, the stock market was up about 1,000 points. i just think that the economy's getting off on the right foot here in 2020. and you know, we got head winds, we have to worry about the coronavirus, i understand that. we have a boeing problem. but i think we're in very strong territory right now. stuart: i suspect, larry, that the stock market has moved down this morning because with such a strong report on jobs, the federal reserve is not likely to cut rates. i think a lot of investors were hoping for a rate cut. i expect to see the president call for a rate cut from the fed. your response? >> i don't really have a response to that. the futures market has been pricing in a fed funds rate cut. i wouldn't mind seeing them be a little bolder. that's just my own personal

view. but the key point today is the blue collar boom continues. the president spoke about this eloquently at his state of the union, laid out the whole issue how lower wage gains are much faster than the top managers. in fact, i had a stat here some place, production workers, i guess the weekly earnings number -- production workers growing at 5%, wages, that is, compensation, 5%, overall about 3%. so that blue collar boom, low wage gains, we are actually experiencing smaller, narrower income differences and while the economy is booming and jobs are booming, that is clearly a function the president has restructured and rebuilt this economy on the back of tax cuts and lower regulations and energy independence and terrific trade deals. so i just think fundamentally,

the economy is very sound and we expect more of the same. stuart: we seem to be running out of workers, qualified workers, for all the jobs that are available. wouldn't it be a good idea to bring in some more immigrants at this point? immigration reform, or just open up the visa spigot and bring some more in? wouldn't that be a good idea? >> we have a strong immigration reform policy. it won't get through congress, i guess. maybe in the next term. we want to do it on a merit-based situation rather than just the family chain base situation. as far as high skilled workers are concerned, there may be reforms there. but stu, i'm still, i want to talk about american workers, all right. you look at today's numbers, the employment to population ratio, i'm just going to read this out, employment to population ratio went up again. that's the best single measure of labor market slack or lack of slack, it was up .2 at 61.2%.

now, look, the peak there was way back in december 2006 at 63.3. if we can get from 61 and change to 63 and change, given the expansion of the american population, then you've got potentially six million additional americans and you know, a theme of the president's here has been all along, in prior administrations, the labor force shrunk. in the last three years under president trump, we have added 3.5 million new workers, they have come out of the woodwork, so to speak, into the labor force to take job opportunities and job retraining and reskilling opportunities. that employment ratio is telling us as we continue to climb up on participation, we could have as many as six million additional workers. i do not see a worker shortage. i'm all for the immigration reforms, don't get us wrong. we have a very strong package. but i think right now, there are a lot more americans out there that could come to work, be retrained, be reskilled, take

advantage of wage gains that are running in real terms of over 3%. stuart: are you a little disappointed with that? with such a tight labor market and a fast-growing economy that's really expanding, shouldn't wages be rising at a better clip than 3.1% annually? >> well, that's not bad. i mean -- stuart: not bad but -- >> not bad at all. stuart: it could be even better, i think. >> well, i don't know. this story is going to continue to play out. bear in mind, on an after-tax, after-inflation basis, take-home pay has gone up $5,000 in only three years. the prior 16 years, that number was flat to down. so i think they are doing very well. hours worked times average hourly earnings in today's report shows income growth or wage growth in the middle class of over 4%. you got 1.25%, 1.5% inflation rate so you've got very strong real disposable income. i think we are in very good

shape there. again, this thing is still evolving. there is a lot of strength. i don't know, people say we are coming to the end of the cycle, i don't see evidence we are coming to the end of the cycle. and again, the president has said time and time again he is going to stay with these policies. we are not going socialist, we are not going to have the government run the entire economy, which would shrink gdp by 20% or 30%, we are not going to permit government takeover of medicare, which would take off 180 million private health insurance contracts. none of that stuff. and judging from an early primary caucus, which didn't go so well for the other side of the aisle, i don't know, iowa's a wonderful state, a wonderful state, you love iowa, but gee willakers, if you can't run a caucus for a small state, how are you going to run all these programs and the economy? i don't get that.

stuart: i knew i would get a smile out of you at some point. talk to me about housing. i know you have often said that housing is -- is going to give us the next leg up for the economy. it's poised for real growth, the housing market, yet sales of existing homes still sluggish, still around 5.5 million a year. it's not picked up the way i think you were expecting, even though we've got, what, 3.4% on 30-year fixed rate mortgages. what's the problem with housing? >> five and a half million's not bad. by the way, this too evolves over time. now, interestingly, in today's jobs report, construction which includes both residential and commercial, was up 44,000. that's a very big number. all these indicators, new housing starts, that's a construction number, new and existing home sales together, you look over the last three, four, five months, we're in a kind of mini boom situation. prices are firming up and you know, people -- the two biggest

assets, stocks and homes. that's what ordinary middle income folks, blue collar boom type folks as we call it, they have benefited enormously from the stock market rise and the rise in home prices, the recovery in home prices, so that their consumer household net worth gains have been i think 47%, whereas the top 1% only got a 13% gain. i want everyone, i want a rising tide to lift all boats but i'm just saying, these increases in asset prices and consumer wealth are very strong harbingers of a strong economy, particularly, particularly on the consumer side. stuart: i don't want to end on a negative but was this anything in today's report, is there anything about the economy that worries you? >> i'm not worried about the domestic economy. because the policies are pro-growth. supply side, free enterprise policies. by the way, president trump

spoke to president xi last night by phone, very constructive phone call. potus expressed confidence in china's ability -- stuart: anything about phase two? anything -- are we going to give them reciprocal deal to help them out with the virus because they are cutting tariffs on our stuff? >> first of all, they have cut their tariffs by 50%. that was not strictly speaking part of phase one. so i thought that was a terrific gesture. also, the two leaders agreed that while the virus may slow down u.s. exports and chinese purchases of u.s. exports, it would be made up before the year is out. as you might guess, medical equipment, pharma two things china wants to purchase for the virus. other things around the world, our brothers in europe and the united kingdom, we are hosting the g-7 meeting here in june, it's going to be up at camp

david. the theme, i'm the sherpa for this thing and nsc working together, the theme is going to be global growth. we are going to focus all the plenary sessions with the g-7 leaders on global growth. so if you ask me what worries me, i want to see our cousins in europe and our great friends and allies in japan promote 3% economic growth. let's not just resort to all this money pump priming. how about lowering marginal tax rat rates, how about deregulating for businesses and labor markets and so forth and so on. we need a kind of supply side fiscal push here to accommodate the monetary policy, so that's the part that worries me the most. we might be losing a small amount of gdp because our friends and allies are not -- are not producing the goods and by the by, we have, we, the g-7, we used to call the western

alliance, we have to show that free enterprise and market oriented economies are much better than socialism. stuart: yes. >> so we better start delivering the goods. we better start delivering the goods. stuart: what about that phone call between president trump and boris johnson? the "financial times" says it was very heated and that president trump had a go at boris because of what he was doing with huawei. could that interrupt the trade deal that we would like to see between the two? >> no, it won't. i know there's a lot of adjectives coming out of that phone call. i don't think that that is exactly true, to be honest with you. look, we will be working with our british cousins on 5g. we think we can work with them and show them options. we would love to do a free trade agreement. by the by, we had very good free trade talks yesterday. ambassador lighthizer and the eu trade commissioner phil hogan, i saw hogan later, very

constructive trade talks with the european union and so we will pursue all that. those are great pro-growth measures. so you know, that stuff is going to go ahead. by the way, one last little trinket here. on 5g, talking about the united kingdom and so forth, yesterday the federal communications commission, my friend ajit pai, reached a historic deal with the satellite operators so we can repurpose 280 megahertz, 280 megahertz of spectrum, we will repurpose that so-called c-band to help 5g and to help push 5g out into the exurbs and rural america. this is a gigantic step forward on the 5g story. stuart: you opened it with spectacular news on jobs and closed it with great news on the satellite deal. larry kudlow, what a pleasure. thanks for being with us. >> thanks, stu.

stuart: all right. let's go over that. john, greg still with us. first of all, john, immediate reaction to what larry kudlow had to say? >> mr. kudlow is spiking the football and he should be. they had terrific numbers. right now, this is something you go and you tout what your record is. they have a great record. stuart: he does indeed. greg, what do you add to that? >> the president in his speech did not mention a middle class tax cut. larry did not mention a middle class tax cut. i had thought a month ago it was on the front burner. i'm beginning to think now it might be on the back burner. stuart: maybe that was my fault, greg. our producers were plugging me and saying come on, come on, ask about the tax cut. i didn't get to it. my fault. sorry about that, greg. what have you got? lauren: he spoke a lot about wage growth, especially at the lower income. if you look at the numbers we got from today's jobs report, non-supervisory jobs, they grew more than 3.3%. so we are seeing that lower rung make more money. it's a positive in this jobs report. just to not be political but to make a political juxtaposition,

if you look at this week, iowa and everything else for democrats, and you pair a solid jobs report on that, does say something. i'm surprised the market's not in the green at this point. stuart: non-supervisory workers, their wages are rising at a faster clip than management level wages and salaries. that's very important because that tends to close the income inequality gap. which is a big deal for this administration. it's what the democrats have been harping on a long time. let me wrap this up. check the market. we are down. not sure of the exact reasons for it, after this blowout jobs report, but we are down. maybe it's the virus. maybe it's the long expected pullback. you have something? lauren: we are also up 4% on the week. it is the best week in eight months for the dow and s&p, the best week since november of 2018 for the nasdaq. stuart: okay. you are right. >> you are going into the weekend. you don't know what will happen with coronavirus and the weekend. you are going into the weekend, people don't necessarily want to be that long. stuart: we have seen this before. don't hold stocks over a weekend

when you might get some terrible news that will affect you on monday morning. whether it does or not, we shall see. greg and john, thank you very much for being with us today. i've got casper on the screen. it has now turned south. it was way up yesterday on its first day of trading. now it's down 6.6% at $12.60. joining us, venture capitalist greg smith. greg, i believe, weren't you an early investor? >> i was a pre-ipo investor. stuart: you have a piece of it? >> i do. i'm excited to see them go public. i think it's a great thing for the company. what we have witnessed any time you see a consumer products company go public and have a successful ipo, it actually creates more consumer awareness and actually catalyzes their business. stuart: you are probably locked in as an early investor, can't get out yet? >> that's right. that's right. i'm not looking to get out. i wouldn't want to get out at these prices. is it the a stuart: any idea why it spiked yesterday and came down today? >> you had a great take yesterday, you have the broader market down today. there will probably be maybe people trading around the ipo

that maybe had a quick profit and looking to get out. i think you have a long term view on the company, they are looking to build a sustainable sleep brand, there's more and more greater awareness around the quality of a good night's sleep, people just can't be focused on diet and exercise anymore, sleep is really important. i think they are pursuing a great model. stuart: you have a habit, a record, i should say, of getting into startup companies very early. you've gone into juul early, as i recall. >> that's right. stuart: i don't think you did uber. >> i did not do uber. stuart: casper. >> beyond meat. stuart: are you still in beyond meat? >> i am. that's another great example. look at their ipo in may. the stock went up, consumer awareness exploded and again, i think it catalyzed their business. people saw the ipo as a very rare experience. they saw the ipo in the performance and actually ran out and tried the company's products. stuart: are you still in juul? >> i am still in juul. yes. stuart: you saw what happened as of yesterday. >> as of yesterday. stuart: flavored vapor cartridges are supposed to be

off the shelves as i understand it. >> flavored pods are off the shelves. fda guidance was published on january 2nd, went into effect on january 7th and as of yesterday, no flavors are on the market anymore. stuart: you are in no position to be critical. i understand that. you're not. but i tend to think that maybe we have gone too far. that is my opinion. by all means, get nicotine out of the hands of kids in vaping devices. i got it. but don't take vaping devices entirely off the market, because a lot of people who smoke want to use them to get off smoking. >> it's been very successful in other countries. look at the uk. my family for generations has been the victim of smoking and i'm very happy to say that stopped with me. i'm not a smoker. my teenaged kids are not smokers. i continue to believe that juul and the other products will be the greatest public health benefit of our generation. to get smokers off of combustible cigarettes on to alternatives that are better for them. stuart: you are not out of juul. you are in it? >> i am not out of juul. stuart: you are not out of casper and don't plan to get out? >> not today.

stuart: all right. greg smith, thank you very much. >> happy friday. stuart: yes, sir. thank you very much. now this. now this. the all new xfl premieres tomorrow. layfield is still here. you are involved in this, aren't you? >> not involved in this. i'm still a part of wwe which vince mcmahon runs as majority shareholder. he owns xfl. stuart: the wrestling giant branched out into the xfl football. they have a whole bunch of new rules. >> a whole bunch of new rules. it's going to be fan-friendly. they have taken the game, made it faster so they have taken the 40 second in between plays the nfl has, taken it down to 25 seconds. you can see almost continuous play. put audio in all of the skills players' helmets so the running backs, the quarterbacks, the wide receivers, there's no need to huddle. they have taken referees, revolutionary way, out of the game when they can enforce penalties without stopping the game. it will be very much like soccer or rugby. it will be a continuous game, very fast-paced game. stuart: wait a minute. they have microphones in the helm helmet? >> that's right.

stuart: can i listen in? >> actually, the head coach will be calling plays and the tv audio is going to be picking that up. it's going to be interaction with the game like you have never seen before. i think this changes american sports completely. i think it's that revolutionary. stuart: it's the introduction of technology. >> that's right. stuart: on a major scale. >> they worked with fantasy sports, they worked with legal sports betting. they also introduced technology into the sidelines into the game, the fan is going to be part of the game which is so important. and you talk about revolutionary changes. there's no kicking on extra points. you can go for one point, two points or three points, depends if you want to go from the 2, 5 or 10 yard line. this is football reimagined, if you had no legacy issues. it's the most profitable sport in the world. you've got this void in the spring and this sport will fill it. i think it changes sports. stuart: it's played outdoors. it's not indoors? >> played outdoors in the spring. sorry, not in the spring. it actually starts this week. you go into the spring for the championship but tomorrow on 2:00, abc, the first game

between washington and seattle. stuart: how many teams? >> eight team. every game will be on national television between abc, espn and fox. stuart: i'm surprised you don't have part of this. >> i would love to have part. i would love to be a commentator. vince hasn't called me yet. he may be watching this. i'm hoping i get the call. stuart: john layfield, thank you very much indeed. greg, if you are still there, thanks for joining us this morning. a very important day. all good. happening at 11:00 this morning eastern time, the president will travel to north carolina. he's looking at opportunity zones. when he leaves the white house, he may speak to reporters. you will surely see it here. also happening in the third hour of "varney & company," vice president mike pence is on the show at 11:00 this morning. also, have to tell you about an update on the virus. the world health organization is holding a news conference on the virus shortly. any headlines, you will see them. you will get them real fast right here. hi guys. this is the chevy silverado

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city, big day your dow money, right now the market is heading south, all kinds of reason for that, we are down 200 on dow industrials. next hour vice president joins us and most important president trump heads to north carolina touting opportunity zones, again, he may speak to reporters before he gets onto marine one, if he does, you'll hear it. by the way, president trump took a real victory lap after he was acquitted of impeachment, you have to watch this, roll it, please. >> we went through hell unfairly, did nothing wrong, did nothing wrong, i've tone things wrong in my life, i will admit, not purposely, but i've done things wrong but this is what

the end result is. take it home and frame it, the only good headline i've had from the washington post. stuart: you were in the room, you were sitting right there as the president was speaking. i get the impression that, a, he was unlearned, and b, he went right after speak e -- speaker pelosi. >> he did, we heard many speeches from the president, this was one of his best, clearly as he's with all of his speeches being himself, he has every reason and every right to call out the fraud of the last 3 years, i don't think this will be the end of it, there was joy in the room with the exception of the media who had their arms crossed. the first lady whom you never really see in these because she's, of course, facing the podium, joy in her face, engaged, there was an

understanding of what this means, it was wonderful to see that, this for the american people why they appreciate the president is you go get this transparency and honesty, the same guy now when he came down the escalator. we have the known with the president, he's proven himself to be not just dealing with the issues but be delivering but the things he care about are consistent and this is the case about that certain media was upset and nancy pelosi seems to be having a strange personal reaction to this but both of their jobs is to do things to the people of the united states, only one person has been delivering on that job and that's the president and that's what the american people are saying. stuart: glad you were there, wish i'd been there. >> fascinating experience and a joy, a lot of good years coming up with this president, looking forward to it. stuart: hold on for one second,

tammy bruce. >> yes, sir. stuart: state of the union is strong, the state of the democrat party is not, in fact, it's in crisis, on this program we are all about politics and money, it surely knows the reason why the stocks go up as democrats implode, believe me, folks, the market has gone up, money has been reacting to politics. the thinking is this, a socialist cannot win the presidency, the so-called moderates cannot beat trump and although mike bloomberg may buy the democrat nomination, he cannot buy the presidential nomination, in other words, they are going to lose. new signs of even new growth, talk about implosion, it's his campaign on the line, joe biden goes missing in new hampshire and that's in the washington post today, the candidates spent thursday holdup with top

adviserring -- figuring out what to do, lost 3 polls in 3 days in new hampshire, biden is down and in my opinion, close to being out, warren is fading fast in that new hampshire poll she's a distant third, chef a -- she was a contender and now she's not, a 38-year-old new-comer and 78 bernie sanders that lives in socialist land. there's not much bench strength in this democrat party, is there anyone that faces performance who will do anything for her party, hollywood, nadler, the people's republic of the west side of new york city, they've become synonymous and out of teach, this implosion came quickly, in just 2 weeks

impeachment failed, biden faded, warren faded and speaker pelosi seemed consumed with rage, a party based on irrational hatred will lose. listen to this. >> are democrats not enthusiastic about voting and is that what the numbers mean? >> no, i don't think so, we need to look at a broader set of data, 2017, 2018 , 2019, they came out in droves, why? healthcare. >> they didn't come out in droves in iowa, they didn't turn out. >> we will see in new hampshire and elsewhere, i don't extrapolate from one race. stuart: not much enthusiasm for democrat candidate, look at this

poll, bernie sanders, pete buttigieg neck and neck, warren 13, do you think bide listen stay in the race, he's in fourth place in new hampshire? >> even before this they were having problems with money, it's not because he's a moderate, representation of the establishment, he clearly has some issues, so it's not like the great candidate who has his act together and is dealing with it properly, it's difficult to say, the conversation about the enthusiasm and the turnout in iowa, it was -- expecting the 2018 turnout which was huge and there was a considerable collapse of turnout and this is because in your point about the issue of hate, hate does not inspire. hate does not excite people. it's depressive, it moves you away from life and moving forward. americans especially but i think human beings in general are naturally optimistic, this is why the country exists, because

we believe in the impossible, believing in that requires enthusiasm, you don't get anything by being angry and hateful. it's all that has been bred, this is the problem with the democratic leadership, they are miserable in general, this is what they cultivate, of course, when the president has been successful, there's some really good things, they also realized they've been lied to but the enthusiasm rate will, of course, decline because the nature of hate and moving through this being against things, people don't go out to vote against something, they go out to vote for them. stuart: always glad that you're on the show. >> i'm always pleased to see you. stuart: thank you, tammy bruce. check big board, down 200 in the dow, a couple of reasons, maybe people don't want to hold stocks over the weekend because you never know what news will break especially with the virus over the weekend and also the very strong job's report implies that the federal resolve will not be lowering interest rates any time

soon, now this, president trump spoke with china's xi jinping on the phone. lauren, tell me what they spoke about. lauren: coronavirus, president xi work to go contain coronavirus and spread information, 638 people have died because of this, who says the coronavirus has not peaked, they will update us momentarily and as far as market is concerned, jp morgan put out a note and said the first quarter the chinese economy will grow just 1% because of this. 1%, in fact, the south korean because they do so much trade with china, that's going to contract 1%. stuart: who said 1%? jpmorgan said that? that would be another reason why market is down. okay, we are down 190 points, again, the latest report is 638 deaths, i think it's -- how many thousand cases is it now, 31,000

i think it is. consolation research found that ray wong, ray, i know you as a tech watcher and we will get to that later, i want to ask you about the news coming out of china, do you believe it? >> i don't, i think the numbers have been off, they've been off since the world economic forum, part of the problem is right now they don't have enough testing kits, people are running around and have fevers and they don't have a testing kit. the second thing that is happening, they don't have the proper means to actually record the folks that were sick that might have looked like it was pneumonia or something else, we have very bad numbers on the ground and bad testing on the ground and you don't know exactly what the correct numbers and the containment that's going on is really important, short of the who saying it's a pandemic which they really need to say, we are -- we will still have a little bit of stillover. stuart: okay. you went to john hopkins, you have a medical degree?

>> i don't, but i have a master's in public health. stuart: you know what you're talk about? >> a little bit. >> stay there, i want to talk you about tech in just a moment. let me fry other fish right now. next, new york state has ruled that fantasy sports betting is the equivalent of illegal gambling. new york congressman tom reed joins us next and i will ask him, does he state not like money, we are talking new york here? happening soon, president trump to north carolina, looking at opportunity zones, we are on it, if he speaks to reporters, you will see it really fast. it's been a victorious week for the president, great week and next hour we have a big guest, vice president pence, he joins us at 11:00 o'clock this morning, i'm talking about tax cuts 2.0 and maybe the virus too. we will be back.

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stuart: still a down day despite the great job's report, by the way 225,000 new jobs, the dow is down 190. then there's casper, real first good day of trading that was yesterday, not so good today, they are down 6%, they went out, went public at 12, now they are back to 12.10. that's casper. pinterest, the stock is up 13% on that, $3 higher at 26. the administration suspending global entry for all new york residents meaning, they can't go through those express lines at tsa when arriving at the airport, this comes apparently in response of empire state, new york's sanctuary city policies, with me now new york republican congressman tom reed, now, the governor of cuomo new york says

this is a deliberate poke in the eye of democrat new york, what say you? >> it's definitely not about politics or poking the eye. new york state is the only state in the union that by law restrict it is sharing of information with our customs and border protection department, even california doesn't do that in regards to illegal immigrants getting driver's license and the issue with ice that they have, i will just tell you this, i mean, this is risky, we are -- stuart, you know, new york is the home of 911, we should never ever forget the lessons of that and this is risky; the policy and what they put the state on. stuart: the administration is doing that as pushback against sanctuary cities, i mean, can more places expect the same thing, maybe? >> i think they can, but it's not about pushback politically, it's about pushback recognizing that department of homeland security, stuart, was put together and by restricting that

information you're exposing american citizens to risk that are unacceptable, it's not just pushback but policy risk. stuart: another one for you about new york state, they've ruled that fantasy sports, fanduel, draftkings, that's the equivalent of illegal gambling. a lot of people play the fantasy sports, you create your own team, grow with other teams and you bet on it, why does new york state walk away from money because that's money that will be pouring into the state? >> well, especially when you look at $6.1 billion deficit that new york state is going to have to bridge, so i will let the courts decide that case, but, you know, it is a revenue problem in new york state but you have to admit, it's a spending problem driven by extremism out of albany, we are willing to stand up to that extremism, we are looking for leaders in albany to do the same. stuart: please do, new york state, you can't frank, you --

frack, you can't have a pipeline to bring cheap natural gas to people, you can't do fantasy sports and you can't have the global entry thing, you know, new york state is not doing very well, that's my opinion, you live in new york state, you're a republican, i'm sure you are going to agree with me. >> i totally agree with you, new york is my home, i live in a home my grandfather built in the 20's, i call on everyone, come together, come off the side lines, take on the party extreme control in albany. stuart: a fight inside new york between everybody up state, millions of people up state and those people who cluster around new york city in long island, that's the split, isn't it? >> it is, i tell you, i've been spending time in the city and i'm hearing from the city that the extreme policy is impacting negative. you look at people with reforms impacting the safety of communities, ability to come into the country freely because of extreme policy on illegal

immigrants, thank goodness to president trump on calling this out and saying you know, what we are not going to look the other way, that's what new york was asking homeland security to do, make a special carveout for us but the risk is too high, you cannot have the system exposed to it. stuart: john, when the day comes that republican wins statewide, i'm buying you dinner. thank you for joining us, sir, got it. >> thank you. stuart: i have to get to credit swiss, ceo is out, this follows a scandal and restructuring. lauren: well-known ceo, he's out there because of a spy scandal at the bank, one of former workers but a friend of the ceo, he -- he was a former coo of credit swiss and he had ordered surveillance on some of the workers at the bank because one of them had left and he thought, o maybe that worker will poach everybody else, he surveilled

them, obviously he's no long we are the company but as credit swiss tries to regain trust, restore its reputation, unfortunately the ceo will be out effective next week, stock is down, he returned the bank to profitability. stuart: but the ceo denied it. he didn't know anything about the spying. lauren: had no idea. stuart: happening in our next hour, president trump as we know goes to north carolina, if he talks to reporters or if he says anything you will hear right here, he often makes news when he does that, and also in our next hour vice president pence joins us, big win for the white house, trump victorious, we will ask the vice president, what's the mood right there. we will ask.

stuart: we were down 200, now down 166, look, a lot of people don't want to hold stocks over the weekend when you might get bad news on something or rather like the virus, ray wong back was, he never went away, he's sitting next to me, he's a tech watcher, great track record, first of all, i want to know what's your target price on tesla? >> 700. it's still very high, people are up in the 800's, monologue production is kicking butt, people want a tesla and not ev, people need to understand that, brand that has a lot of cash and battery plant is profitable which they can resell to everyone else and we haven't talked about all the things that they are about to roll out. stuart: kudos to you, you said that tesla, at that point was at 450, you said it was going to

700 and it did and it's 740 right now. next one, netflix, as i recall, you thought it was going to go to 400 a share, correct? >> yes. stuart: where is it now, 400, thereabouts? [laughter] stuart: are you holding with that? >> amazon prime is also doing really, really well and we haven't seen what happens when peacock launches and so the streaming wars will settle but netflix on top, the thing about streaming wars it's ad -- and stories, netflix will be one of the and's. i think the average person will take that maybe like they'll take netflix and something else and maybe one other one that's a specialty. stuart: january 14th, 450, you said it was going to 400 and now at 366, kudos to you, ray wong,

here is your chance to really make me look stupid. >> no. stuart: microsoft, you said, i think you expected to go to 200, on january 14th, you said it was at 180, you said it's going to 200, right now it's about 183, as you know, i sold that thing at 159, cry for me, ray. [laughter] >> so sorry. here is the deal they did a great job of turning the company's image, they got into the cloud, some some of the stuf that was in play for a while, the thing is they are doing great job, 365 is doing well, they have done good job moving people into the cloud and amazon is biggest competitor for that. second is we have gaming, gaming stuff is picking up over time, it's everybody ganging up against ma'am zone, growth with microsoft. stuart: do you think it's going

to go to 200? >> i left $41 on the table? >> sorry. [laughter] stuart: thank you very much. president takes to north carolina next hour, we expect him to speak to reporters, hold on, everybody, because if he speaks you'll hear it, vice president mike pence arrives on the show at 11:00 o'clock this morning, 11 clock eastern, more varney after this. ♪

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of the song and you've never heard of it before? should i tell you? lauren: please do? >> whimsical song. lauren: sounds like a lullaby. getting my beatles education. stuart: you should be educated on the beatles, good heaven. lauren: now you know they were on spotify. there you go. stuart: check the big board. hey, look at this, we are coming back, coming back a little bit, we were down 200, now down 150, i will take it, we do have right now breaking news on the virus evacuees, american evacuees from china. >> two chartered planes taken out of wuhan, china are being held in california in air force base in canada because of two, quotes, persons of interesting, coughing, showing flu-like

symptoms. also 27 people recently in china were screened this morning in new jersey, they were on the royal caribbean cruise ship coming from the bahamas docking, 27 were checked, 4 sent to the hospital, the governor of new jersey, governor murphy says the risk to new jersey is very low and cdc has gone on that ship that you're looking at. stuart: look, the people who need to be checked for the virus arriving by plane today, a couple of planes, the cruise ship has docked, america has the resources to deal wit and contain and we can deal with it and we are dealing rather well so far. lauren: good coordination, i have to say and the public is very well aware. stuart: one stock is very much in the news today and i'm

interested, uber, the ceo said they will be profitable i think by the end of the year, susan li, you know the story well, is that profitable by the end of the year? >> first quarter of 2020, a year ahead of schedule, take a look at the action from the analyst community, they heard on news call yesterday, flurry of upgrades, able to go higher than estimated. they cut price targets, they have bullish targets on the stock. we will get to profitability and he says that the era of growth at all costs is over in a world where investors are increasingly demanding not just growth but profitable growth, we are well positioned to win through what he's called continuation innovation, might include subscription service, paying a certain amount from riders, you get a certain amount of rides.

stuart: susan, i distinctly i said to you i should have bought it to 30, 31, 32. >> you listen today me, is that what you're saying? >> no, that was the problem. >> maybe they will get to 45 and break in. stuart: susan li, thank you very much, we will see you soon, mitchal green, lee capital management partner, he's an early investor in uber, come on in, mitchell, how are you doing today? are you there? >> good morning; how are you? yeah. stuart: you call me varney and i call you green. do you think uber can be profitable by the end of this year? >> i think the answer is absolutely. we thought for a while that uber, you know, he had set a target, the management team set a target for 2021 and we thought internally that they would get

there by the end of this year. i think it's possible they could get there, break -- close to break event in q3, he's giving himself a little wiggle room, you would think. i think there's a lot of leverage they can pull. stuart: i like the idea of subscription service because if they bring that in that's cash flow constant flow of money coming at you. steams like a great idea to me. what i think you're seeing, probably go down as well, that's

probably helping with profits in latin america, lyft is starting to be more rationale in the united states, it's going to be a party and we will make money here. >> i should have bought it a long time, you asked me right, green, let's talk spotify, i believe you were an early and originally investor in spotify, they have 124 million paid subscribers, people love the music, are you going to stay in it, no thoughts of leaving? >> we actually -- we actually sold a lot of our spotify stock, i don't know, 6, 9 months ago, the key question on spotify is one of gross margins, it's a good business, apple is not going to catch them, amazon is not going to touch them, go outside your office in new york and pull 20 -- 20 millennials and 20 people under 25, 15 of them use spotify, it is the future, the issue that spotify has and frankly all the

streaming people have is gross margins, they don't own the content. so that's why they are running the podcast. stuart: did you get out because you thought it hit the level that you wanted it to hit so you took the money off the table or did you get out because you don't think it's going much higher than 150? >> so, look, i think in 5 years it'll be higher than it is today, absolutely, the way we think about investing in companies is, you know, we build a 5-year model, if the model is wrong, nobody can predict out in the future but it's an educated guess, we then put a reasonable earning multiple on that and then back into it with an irr from where the stock is, the single driver of spotify stock price is gross margins. gross margins are 25%, 26%. if those can get to the mid-30's, this stock is a screaming buy, if they stay at

25 or 26, i don't really know, it's kind of grow in line with subscribers, that's why you're seeing them go into podcast because they own the content and they can get higher margin on it. stuart: are you buying, do you have a piece of airbnb because they are thinking of going ipo? >> for one i'm not very smart, my two partners are really smart. we are not investors in it, we are not investors of airbnb but it's a good business, though. stuart: green that was fun, i have no doubt we will see you again soon, got it. >> good seeing you. stuart: varney. thank you very much. [laughter] stuart: ford stock down 813, there's a shake-up. lauren: surprised shake-up, promotion for jim farly, strategy chief, now becoming the chief operating officer, jim

hendricks he's retiring, in 2017 jim hacket was taken out of retirement to leave ford, he's not going to stay much longer s the next ceo going to be jim farly, he's expected to make some pretty bold moves at ford, ford just reported bad numbers and forecast bad numbers for the rest of the year. stuart: i love the stock but the stock has been languishing for a long time. lauren: yeah. stuart: before we hear from the vice president and when president trump hears from north carolina, we always hope he talks to reporters so we can report what he's just said because he sometimes moves the market, we have to tell you about friends, you know, the tv show making a comeback, we have details for you as well. we will be back.

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so you can... retire better. ♪ ♪ ♪ [laughter] lauren: no idea. stuart: no. lauren: i can attest to it, it was good, if you want to do it again, go ahead. stuart: friends is making a comeback, reunion, isn't it? >> yeah, chaching, each cast member can make 2 and a half million dollars but deadline reporting 4 and a half million dollars, warner media bought the rights from netflix to air

friends all ten seasons that you and your daughters love starting the spring on hbo max, yet another streaming service for everybody. stuart: do you think that a new generation of viewers will tune into it the way my daughter's generation, i tuned into it? >> could be, when you look at how friends did on netflix, it was number one show, we hear unscripted, it's going to have a host, perhaps ellen degeneres. okay. all right, give them the money. [laughter] president trump leaves the white house shortly for charlotte. he's looking at opportunity zones there, paris, is with us, black voices for trump to alition, -- coalition. where have you been? >> i'm waiting for the call, i

got the call and i'm right here, stuart. stuart: the president is taking the message to the black community and that's what the black community wanted, am i right? >> you're 100%, the president has taken his message, proamerica, problack america agenda to the american people and he's speaking directly to black america, telling them about the achievements that he has had over the past 3 years, achievements when it comes to criminal justice reform, opportunity zones, record low unemployment, 1.6 million new jobs have been created for the black community since he's taken office, over 350,000 black americans lifted out of poverty, 23 months consecutive months black unemployment has been under 7%, record when it comes to historically universities, record investment in them and when you look at the things he's doing across the board, listening to the state of the union address and how he just whipped through the lines of all the things he was doing for the community and putting examples on -- on the screen of those tremendous americans that were

present, school choice, i mean, this president is talking direct through my community, my family and it's making an impact. stuart: i think one thing that we all missed about the president's speech was school choice. >> yeah. stuart: that's extremely important in america today but we all glossed over it, hold on a second, i just want to play a clip january jones talking about mr. trump and black voters. >> what he was saying to african americans can be effective. a bunch of them have gone under, he threw a lifeline to them in real life and in his budget he talked about that he talked about the criminal justice reform, he talked about opportunity, we have to be critical about this stuff, that was a warning to us, warning shot across the ballot democrats that he's going after enough black vote, not just the white suburban voters, he's going for black votes. stuart: senator

tim scott says if he gets 14% of the black vote, he got 8% in 2016, if he gets over 14%, he says it's game over, do you think that president trump could get 15% of the black vote 9 months from now? >> i think it's possible. in the realm of possibility for this president to get 14% because he's made promises and kept his promises and as we sit here in the middle of black history month we have a president who is making history for the black community and it's a very good thing. stuart: yet, paris, they call him a racist. what's your opinion on that? >> i think the reason the left and the left-stream media have called the president a racist is because they do not want to have the black america, all of america look at america for what he's actually doing, it's a tactic, diversionary tactic to make them thing he's not going the things he's doing, think they he's a racist, they will

tune out all the positive things that he's actually doing but in the face of all of the lies, smears and the smudge of character, he's going to do very well, he cares about the forgotten men and women of the country, he cares about the black community, that's why i'm proud to be part of black voices for trump and that coalition is growing every single day. stuart: all right, paris, don't be very much a -- such a stranger. >> ly -- i will come back soon. stuart: 29,200, thereabouts, elon musk spacex planning ipo for space internet star link. what do we have on this, sue? >> possible ipo according to spacex's president, she's speaking to investors earlier in miami and you know elon musk does not like the public market, yes, he has tesla and tesla has

been on a tear, a lot of people have been wanting to invest in spacex. $33 billion, star link says elon musk must be the jewel. you get high-speed internet from space and this could generate around $30 billion in revenue. more than what you can get from rocket business according to elon musk, this is in the work possibly as we know elon musk has been protecting spacex from going ipo and the public market, we will see if he will give a piece of it away. stuart: susan, i was wrong about uber.

joe biden coming in fourth in iowa and slipping in badly in new hampshire polls, next we have a guest that says it's biden's energy policies that are really killing him, next hour vice president pence joins us, a lot to talk about, more varney after this. ♪ limu emu & doug

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plus 0% interest for 24 months on all smart beds. only for a limited time. stuart: not quite at session lows of the day but we are down, down 184 points on the dow, that's about two-thirds of 1%, down just a quarter percent on the nasdaq and down about a third of the percent on s&p, we are down across the board. i think, however, we've had all-time highs for microsoft and amazon on your screens, 2,079 bucks for amazon and 184. lauren: 3700 on board, the numbers have gone up, the coronavirus has spread, now there are 61 cases of coronavirus on that ship and princess cruises is saying of the new cases 8 are americans,

so these are terrible numbers because they tend to be just be moving in the wrong direction, these folks are under quarantine until february 19th and we have been talking about what it's like to be quarantined on a cruise ship, i mean, carnival is doing everything they can to help the kids bring in more activities, give them something to do and the who is saying that the numbers are going up unfortunately. stuart: okay, got it, lauren, thank you very much. earl earlier in editorial i suggested that one-time front runner joe biden is out, my next guest says this has a lot to do wit, roll, please. >> what about safe stopping fracking and -- >> exactly. stuart: if you couldn't hear it, look, he was asked about fracking, you know, the way to get natural gas on oil out of the ground, he said, don't like fracking, don't like pipelines, my guest is daniel turner, power

the future president, daniel, your point, i think is that statements like that on energy, abandoning energy independence have a lot to do with why biden is almost down and out? >> exactly, when you look at joe biden who presented himself when he launched his campaign as middle-class joe, what happened to the middle class jobs that he claims to care about, we saw last month 225,000 of them were created, remarkable number, did any of them come out in iowa caucus to vote for him, are they coming out in new hampshire? this is a guy that disparages, look what he said right before christmas about coal miners, if you can shovel code you can -- coal you can code. if there was a coding problem in iowa that can't get their numbers straight. maybe those coders should learn how to frack because that's where the jobs are growing.

stuart: that's a very good one, i believe there are 200,000 fracking jobs in pennsylvania, 400,000 in ohio and michigan combined, 200,000 in colorado, you can't get rough those jobs, can you, 20 seconds on that, please? >> no, there are 14 million emergency jobs across the country, when you look at purple states, ohio, pennsylvania, wisconsin, these people want someone who stands for them, who respects them and their job and joe biden doesn't seem to be attracting them and they're not going to come out for him. stuart: okay, thanks very much, sir, we appreciate you being with us today, very interesting subject and we want to be on that one. we have a big hour coming up for you, we are expecting to see the president leave the white house for north carolina, if he speaks to reporters you will get it, moments from now we will be joined by vice president pence and big day for the white house and big day right here, pence

coming up

stuart: the president is on a roll, he's had an excellent two weeks, best two weeks of his presidency so far; he's won on impeachment, won on the economy, he's won on trade and this morning came news that another top terrorist has been killed, al-rimi, bad move on both counts, as we speak, economic growth appears to be accelerating, manufacturing is expanding, the trade deficit shrinking, new jobs just keep oncoming, 225,000 last month, huge, terrific performance and watch for a coming house boom, mortgage rates are way out, not bad at all, check your 401(k) and ira, union pension plan, college savings, you are going to love it. in short, in my opinion the

democrats were imploding and the president is riding high and here is the president of the united states -- the vice president of the united states mike pence. almost got it wrong, there, mr. vice president, glad you are with us. >> thank you, stuart, great to be with you. great week for america and great week for president donald trump. stuart: are you guys doing high-fives in the white house, what's the mood? [laughter] >> as i said, i mean, in the state of the union address on -- on tuesday night, the president focused on the american people, the incredible progress that we've made, this is a blue-collar boom, more than 7 million jobs created, the job's report that came out, another 225,000 jobs, wages are rising most rapidly for hard-working blue-collar americans, add to that, we've rebuilt our military, standing tall in the world, standing with our allies, standing up to our enemies, strong conservatives to

our courts, the president's acquittal and now ending the week confirming that americans are wins like never before and it's thanks to the leadership of president donald trump. stuart: i have to tell you, mr. vice president that speaker pelosi says that there's no blue-collar boom, your response, please. >> the democrats are out arguing against an economy that is expanding all across the country, you know, stuart, i traveled on a very regular basis and i have working americans coming up to me every day talking about the fact that they got more money in their pockets, their kids are able to find jobs when they come out of school and that's all confirmed in the january job's report again today, i mean, i have to tell you, i mean, one of the numbers that is most exciting and it'll be exciting to your viewers is that the labor participation rate continues to rise. i mean, literally where we saw

the economy under the last administration, an administration that tried to tax and regulate and bail us back to a growing economy, thanks to the president's agenda of less taxes, less regulation, free and fair trade, unleashing american energy, now we see 3 -- 3 and a half million americans who have come back into the workforce and even more in the report that came out today and that wages are rising across the board rapidly but most rapidly for hard-working blue-collar americans, i mean, if democrats want to argue against the economy, we will make the argument every day between now and november and it's just going to be one more reason why we get 4 more years for president donald trump in the white house. stuart: forgive me, sir, but i want to go back to state of the union message and speaker pelosi standing up ripping up the pages to have president's speech, you were right there, i didn't see

much of expression in your face, what were you thinking when you saw the speaker rip up the speech? >> stuart, i honestly didn't see her do it, i was focused where the president was and that was out on the ovations, in the crowd, gallery, i was enjoying looking up at the inspiring americans that he had introduced to the country, but i must tell you when i learned moments later that she had literally torn up the president's state of the union address on national television, i thought it was a new low, new low for a speaker to have united states house of representatives and i also tell you the contrast between president trump's state of the union address that he made all about america, all about the american people and the progress that we have all made under his leadership and having speaker nancy pelosi try to make it about her, i think it tells you all you need to know about -- about this radical leftist

democratic party which -- which seems that never sees any opportunity to try and distract from the extraordinary progress that the american people have made under the leadership of president donald trump. stuart: the aftermath of impeachment and the aftermath of ripping up the speech is president trump getting personal and saying that speaker pelosi is a horrible person and appearing to question her faith and her prayer. do you want to get involved in that kind of personal tit for tat or do you want to stay out of it? >> well, look, the american people know what's going on here. my wife was in new hampshire last night and she -- she heard from a lot of great folks that turned out for keep america great rally how much they appreciate all this president has endured over the last 3 years. i mean, you think about the progress we've made rebuilding our military, reviving our

economy, strengthening our liberties with conservatives on our courts, america respected in the world, again, it's important to remember that every day since our inauguration day democrats have been trying to overturn the results of the last election, it was 2 and a half years of -- of the russia collusion hoax until the justice department found no collusion, no obstruction case closed and then it seemed like it was just a matter of weeks, stuart, before all of a sudden over a phone call with president zelensky of ukraine we were back on the impeachment express and -- and the sham investigation followed by a partisan impeachment, it was just a great moment this week when we saw the united states senate vote to acquit the president of the united states of america. it's over, and i don't think any -- any american would begrudge the president's strong feelings

about those who have spent so much energy in the last 3 years trying -- trying to stop him and this administration from turning this country around. stuart: i want to turn to the virus, the coronavirus, a cruise ship docked in new jersey, two plane-loads of evacuees are supposed to arrive in california shortly, i want your assessment as how we, america, has dealt so far with this virus? >> well, president trump took decisive and unprecedented action canceling air flights limiting access to this country from people coming to china now a week ago and we continue to believe that the threat to the american public is low, that being said, we had meetings yesterday in the oval office with the cdc officials, president spoke to president xi last night, look, our heartbreak for the people of china and the loss of life in the wake of

coronavirus and what the president made clear to president xi the united states is ready, willing and able to work through the world health organization to provide assistance as they get the coronavirus under control but the american people can be confident president trump is going to put the health and safety of this country first and the decisive action he's taken to date we believe continues to keep us in a posture where the threat to the american people is low but we will remain vigilant and remain aggressive to keep it that way. stuart: would you mind if i did a quick lighting round? okay, i'm going to do it. [laughter] stuart: sorry about that, mr. vice president. first of all, joe biden? >> you know, candidly it is remarkable to see the disarray in the democratic party and to see what -- what i think bernie

sanders actually called it a mitigated a disaster for their party in iowa. look, iowa is a great state, great people but obviously joe biden's showing in iowa caucus just tells you, this is a party that more and more reflects the radical democrats in the congress of the united states and we think that's going to continue to propel and -- and confuse their nominating process. stuart: mike bloomberg? >> you know, honestly, it's hard for us to see the appeal of that candidacy, the american people know that we've got a president in the white house, an accomplished business leader who brought what he likes to call the american model, i don't think they will be drawn to a business leader that's interested in more taxes, more regulation and taking us back to the failed policies of the past. stuart: tax cuts 2.0, are they

coming? >> oh, they are absolutely coming. i expect we will be talking about that before this election year is out, it's one of the reasons why we will focus so much energy on making sure not only do we get president donald trump 4 more years in this white house but we will make sure that we reelect a republican senate and elect a republican house of representatives, stuart, you were there every step of the way, you saw the incredible progress we made when we had a republican majority in the senate and a republican majority in the house, we will lay out our vision on tax reform, on health care, on infrastructure, on prescription drugs, and we will go out there and fight every day as i said to get this president four more years but also to make sure that we have republican allies in the majority, in the congress to help us bring it about. stuart: i have to point out, mr. president, that speaker pelosi gave all the credit for the market and the economy to president obama. lighting response to that?

[laughter] >> it just -- you know, honestly, it is amazing to think that in the last election that tried to -- to tax and spend and regulate to a growing economy resulting in less than 2% growth for 8 years, the slowest economic recovery since the great recession can now look at the booming american economy more than 7 million jobs created, wages rises and think they had anything to do with it. i mean, the american people know what the president said in the state of the union was true, that if president donald trump had not been elected in the white house, if you hadn't allies in the congress, cut back taxes and fight for the kind of free and fair trade that you see in usmca, in the phase 1 china deal, this country would be in a very, very different place, we'd still be struggling economically as we were in the last administration and the american people know better, they know this expressway -- economy is

booming and they know the credit goes to president donald trump. stuart: mr. vice president, mike pence, appreciate it. >> see you soon. stuart: thank you very much. look who is here, look who is listening to that interview there, you know this lady, justice with judge jeanine, justice jeanine pirro. >> hello. stuart: you're terrible. >> a wonderful day, isn't it? look at the job's numbers, the president was acquitted. stuart: yes. >> i can't help but smile, here is barack obama, nothing is his fault, it was george bush's fault and then when president trump comes in, i want to take credit for that, he ought to do something in his own 8 years, in his own lane, he's in bush's lane or trump's lane. stuart: i have to tell you, judge, when i was watching president trump's victory lap,

that's what it was, i was cheering him on because i wanted him to go after speaker pelosi and go after those people who have been bad-mouthing our country and our president, i was cheering him on, i think you were -- hold on a second, i have a sound bite on that, roll that tape, please. >> we went through hell unfairly, did nothing wrong, this is what the end result is. [cheers and applause] >> going through this now for over 3 years, it was evil, it was corrupt, it was dirty cops, it was leakers and liers. [laughter] stuart: isn't that the name of your book? >> liars, leakers and liberals. stuart: he was restraint. >> he was restraint. stuart: he wasn't loud and all the rest. >> i think he understand the positions that he's in but i like you was one of those people saying go for the jugular

because from the time he came down the escalator, head of the fbi and doj were trying to frame this man as a candidate for president of the united states and then create the insurance policy to make sure that he would be convicted of something and it didn't work, the russia collusion and then they did this, believe me, stuart, they are not going to stop and the president by saying to the american public, look, i did this, this for the economy, i did this to isis, i did all this other stuff and the left is sitting on their hands when he's touting the american dream for a young african-american girl who gets a scholarship to a school, school-choice issue; they can sit on their hands and nancy pelosi can rip up his speech, i mean, these are mean-spirited and more than mean-spirited, they are evil people who don't want him to succeed and by -- by -- directly don't wants us to succeed. stuart: with respect it's not

just that, these people have been calling us names, they've been dragging america through the dirt, if a foreigner was watching coverage of the united states over the last 3 years, they would think that we are a bunch of racist, sexist, bigots and low life, that's what i want to see refuted and that's what i want the president to go after, it's outrageous in my opinion. >> it is outrageous, they started the name calling, hillary clinton with deplorables, smelly wal-mart shoppers, believe in guns an god and all that. i think that what the american people see is the democrats doing nothing for them, irrespective -- they almost expected democrats to go after the republicans and vice versa, they get politics but at the same time they also get that this guy over here is really

producing for us, every one he made stand up in the chamber at the state of the union is someone that we could be proud of and they were almost un-american, not willing to stand up for an american because of their political ideology, because of their hate. stuart: you're right. >> shame on all of them, tomorrow night mitt romney is getting it in my open. stuart: oh, really? >> yes. stuart: set this is up for it. hold on a second, i just want to play some of the media on what they thought about the president's victory lap yesterday, just restrain yourself and watch this and then you can comment later. >> okay. >> unapologetic. the president celebrates his acquittal. >> presidential payback. >> the lengthy revisiting long-held grievances. >> series of grievances, greatest hit of grievances at this point. >> vindictive. >> it was revenge, mean spirited

, spiteful. >> revenge is when you use the department of justice, the fbi and the american system of -- of justice whether it's a special counsel to take down someone who isn't part of the swamp, to take down someone who is fighting for us, that's revenge, that's hate. you know, these people expect this man and all of them around him whether it's his family members or people who work for him who have lost their homes, who have gone bankrupt, who had to hire lawyers simply because they we wanted to work as part of their american dream in government and in the white house and yet they are the ones saying he is hateful, you know what, i think he was restrained compared to the hate that they have visited upon him and for nancy pelosi in her statement that she made yesterday to say, you know, he's not doing anything for african americans, forget opportunity zones, forget the fact that unemployment is

lowest ever in history, let's talk about charlottesville, well, you know, you're a hater, you're a benchful hater. >> and i'm tired of it. >> my bet is the house goes back to the republicans. god willing. stuart: what's the name of the book again? >> liars, leaker, liberals and the next one will be out soon. stuart: you have to think for a second. you have a title? >> do i. stuart: are you going to tell me? >> no. >> my opening is on mitt. stuart: judge, you're all right, thanks for joining us, we appreciate it. we really do. complete change of subject, why not? activation blizzard, call of duty was number one franchise for the holidays, the tenth time that's happened in last 11

years, i can't believe that, that led them to make more money in the fourth quarter than expected and the stock is up a buck 82. wynn resorts did less money because of the macau shutdown. netflix allows you to turn off auto play preview, videos won't begin to play as you're looking for something to watch, i have no idea. lauren: viewers were so annoyed by the feature, we want you to keep listening, a option to shut that off. stuart: still don't understand; netflix at 386, uber, come back up, susan li, why are they up? >> schedule a year in advance, they could be making money outside by fourth quarter of 2020 and we are on track by the way for the best day for uber as

a public company since they listed in may of last year. but this is, you know, there's a lot of caveats involved in this prediction from ceo because he's expect to go regulatory environment, he says, to hold steady, as a result of this we have seen multiple upgrades today from a lot of brokerage houses, 11 target raises and they are getting more bullish on the stock, possibly above the ipo offer price of 45 apiece, but 2 price cut that is i saw today was interesting, they were more of the bullish calls to morgan stanleys and rbc's, used to be making your money and then some if you bought into the ipo in may of last year contingent on the fact that the regulatory environment doesn't change, maybe the 85 bill in california doesn't go through which will basically categorize drivers as employees and not contractors which comes with benefits and higher pay and the fact that london license is suspended right now but they are hoping that they'll get that back into

operation. back to you. stuart: uber, 39.90 as we speak. overall markets still down not quite as bad as it was a few minutes ago, update from the fed, substantial majority of fed officialses see rates on hold through end of the year, we have a very strong job's report, i'm not a expecting a rate cut, on hold say most of the people looking at the fed. bernie sanders, do they really want a socialist as president, we debate it with one of our capitalist coming up. speaking of democrats they are no total disarray, disastrous week, they still have a debate tonight, will you watch, your emails are really pouring in, we will read some of them coming up. president trump speaking to reporters right now outside of the white house, we should be getting the tape and headlines very, very soon, stay there please, that's important.

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apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. z stuart: look, we are down about 160 points on the dow, despite a very strong job's report out earlier this morning, the think asking that with strong job's report we are not likely to see

the federal reserve cut rates and on a friday, you're facing a weekend, a lot of people especially the traders might not want to hold stocks over a weekend because you might get bad news on the virus come monday morning, so the dow is down 150. the president is now talking to reporters, he's talking about iowa, debacle, he's talking about the job's report and the virus, he's also been asked if he can still work with nancy pelosi and the democrats, we will bring you his answer, it's on tape when we get the tape you'll see it. meanwhile, white house chief economist larry kudlow, he was on the show earlier, watch this. >> so if you asked me what worries me, i want to see our cousins in europe and our great friends and allies in japan promote 3% economic growth. stuart: i want, to bring former chase, anthony chang.

>> good to be here. stuart: the dark cloud is overseas, they might not get up to speed, he did say the growth is accelerating here in the united states, do you agree with that? >> i think that we are going to see an acceleration of growth in the u.s. in the second half of the year. obviously the contamination, the effects of the coronavirus will slow down economic growth relatively to what would have occurred if it hadn't been for the virus, we also have effects of boeing. stuart: come the summer time we start to spring back up. >> no question because we know the viruses tend to dry up when the warmer weather -- stuart: yes, straight back up again. it's not like you, guys. >> it has happened in the past, now we know this virus as bad as it is, we know there's a lot of deaths, but the mortality rate is not as high, the spread rate is higher, so in the short run we may see a greater impact from

this virus than we saw from sars but in the long run we will get the bounce-back. stuart: larry kudlow refer today housing market, he thinks that's picking up some steam, we have 3.4% 30-year mortgage rates. >> there's no question that house willing do better, why because interest rates are coming down and the economy is solid, we have a lot of people working, these are all the catalysts for stronger housing market and that's what we are seeing right now and we will continue to see that in the months ahead. stuart: i'm going to sit back here, i'm not used to economists saying, yes, yes, i'm used to you guys saying, well, on the onehand and on the other hand. >> those are the other economists, not me. stuart: they certainly are. anthony, i have more for you in a second. i want to speak about the housing markets, i find this hard to believe but nonetheless it comes from a reliable source,

nearly 50% of mortgages by the spring will be taken out by millennials. you're not a millennial, are you? lauren: no, not a millennial, that makes sense to me, they are getting closer to the age by 40, supposed to have a family and a home. >> the man on the screen is nathan, the author of how to be capitalist without any capital and i believe that he's, indeed, a millennial, you tell me are you buying a house or houses? >> yes, stu, this is what a good-looking 30's look like, the numbers shocked me, the numbers shocked me because all what we have been sold from politicians millennials are hurting, incame of -- incapable of doing their own thing and they are so economically in tatters and what i believe actually, that's an agenda promoted by one side, what i believe we are extremely capable class, we are extremely hard-working and numbers showing, wait a second, 50% of

home purchases from millennial, strong situation for the millennial class. stuart: quarter of millennials have 100 bucks saved up cash, i didn't know that. >> that's a lot of avocado toast, stu, a hundred thousand bucks is a lot, what you're seeing, again, a class that grew up in digital world, they understand how to be resourceful and how to generate income in today's millennial class is different than what our father's, mother's generation might look like, when you have economy at record high and things are going well and there's really not to see in terms of hitting the economy for the socialist folks on the other side so they have to hit this. stuart: see, i have to get back to that, i've asked you many times before and all the millennial guests on the show, bernie sanders is popular with millennials, i don't get it, i don't understand why relatively wealthy youngsters in an

upwardly mobile economy should go for socialism, can you tell me? >> well, stu, no offense here, you've been paying taxes for 20 or 30 years more than i have and most millennials so you understand that when the government gives a free handout, when the government does anything they have to figure out how to pay for it, only two places, either raise taxes and take money from your wallet or they print money which makes the money in your wallet makes valuable, i don't think millennials understand the consequences of what government handouts related to the social policy, the socialist policies that you're hearing from bernie, i don't think they understand the impact debt of what that will have on their wallet. stuart: listen to what larry kudlow told us about the iowa fiasco, roll tape. >> an early primary caucus which didn't go so well for the other side of the aisle, i don't know, iowa is a wonderful state, i love iowa, but if you can't run

a caucus for a small state, how are you going to run all the government programs and the economy, i don't get that. stuart: nathan, i think the democrats are imploding, i'm an old guy, what does a millennial think about imploding democrats? >> stu, give yourself some credit, you have young energy, i will say this, when you can't organize something as so simple as counting some votes in one great state, there's no way you can manage trade deals with china, there's no way you can think about and manage and really go against and fight climate change and there's no way you can fight the macro economic problems that we have and everybody is envious of america, they will be attacking, attacking and we need a president, we need a leader, we need a leading team that understands these wins coming at us, if you can't get a caucus straight how will you manage the world? stuart: you look good for 30, i have to tell you. anthony chang still with me, i'm

intrigued about your yes, we will expand, yes, this is great. i thought 225,000 new jobs last month was a pretty strong report and you? >> i did, in fact, you probably saw my forecast before the report, i was forecasting 200,000 which people thought i was crazy, too strong because obviously the consensus is 163, but, yes, this is good and the thing that really impressed the me the most was the increase in the labor force participation rate. stuart: yes. >> that's the star performer of the employment report. stuart: let me jump in 183,000 people came into the labor force in one month. >> that's great. stuart: 183,000 new paychecks. >> that's right. stuart: to boost the economy. >> new people entering the labor force willing to get a job, we saw uptick in unemployment rate but for a god reason, more people going into the labor force. stuart: you think we keep this up? >> i don't think we will keep numbers up above 225,000 for the entire year, but we will get it once in a while, by the way all

we need 100 or 125 to absorb the labor workforce, any number of that is home run for the economy. stuart: yes, because you're brig people out of the sideline, you're creating new paychecks, you're creating a cash flow, money flow which does us all power good. >> guess what, the labor force participation rate is still lower than it was before we went into the global financial crisis, so it says there's still some potential people out there that -- stuart: fascinating; interesting, anthony chang, thank you very much for joining us, we like the drama, good stuff. quick check of the market, we are about to hear from president trump, we've got the tape, we are just loading this thing up, dow industrials down 150, we are down on the nasdaq 5 points and down 5 on the s&p, and now, ladies and gentlemen, the president of the united states. >> mr. president. >> i just got this, it was just hand today me, this is the dc circuit and we just won the big

case, i think it was unanimous decision, this was brought by nancy pelosi and her group, just came out a few minutes ago, so i'll be reading it on the helicopter but it was a total win, this was brought by 230 democrats in congress, another phoney case we won it 3 to nothing. we won it unanimously. >> mr. president, would you like to see -- >> yeah, that was a false report, i have a great relationship with mick, i have a great relationship with mark, and it's false. >> mr. president, would you like to see alexander vindman out of your white house? >> well, i'm not happy with him, you think i'm supposed to be happy with him. >> is he going to leave? >> he will make a decision. >> should he leave?

>> they will be making that decision. [inaudible] >> i don't understand, he has to speak loud. well, we were abused by the fisa process, we were seriously by fisa, terrible thing that happened and we were absolutely abused as for your question, yeah. >> mr. president -- [inaudible] >> well, you'll see, we will see what happens. [inaudible] >> well, i thought it was a terrible thing when she ripped up the speech, first of all, it's an official document, you're not allowed, it's illegal what she did, she broke the law, but i haven't -- i haven't been

asked the question other than a lot of people that viewed it, they couldn't believe that she did it, i thought it was terrible, i thought it was disrespectful to the chambers, to the country and, you know, high marks from the speech and i didn't know she did it until i was walking out and some of the congressmen and women were saying, can you believe what she did but i didn't notice it. [inaudible] >> well, i think it was a lot of people on that side, they've gone crazy, they've gone totally crazy, too bad. i've gotten tremendous amount more than anybody has done in 3 years by far but they are not constructed people. [inaudible] >> well, i do work with democrats, i work with everybody but that group is -- you know, they say trump derangement syndrome, they got a bad case of

it, you saw it on display the other night when she ripped up speech, that was terrible, so disrespectful to our country and actually very illegal what she did. [inaudible] >> i gave the answer. [inaudible] >> intend to go after -- >> we just came out with fantastic job's numbers, i think it was 230,000 or something thereabouts which was much higher than projection, jobs continue to be great, i am now going to north carolina, some of you may be coming, the job report just came out and it's great. [inaudible]

>> no. these people, they are their own people. i'm not their boss and i don't think they've done anything as far as i know, but it's very sad what happened with the bidens and it's also very sad how he's doing how he's doing in the polls. now i understand the votes are fried in iowa, they couldn't even take a simple tabulation and yet they are telling you how to run the country and how to run health care. i think they fried their votes on computer. think of it. all the money that the democrats spent and the votes are fried, they have no idea who won, they have no idea but i will tell you who won on the republican side, they counted for every single vote and it was a lot of votes, it was a record-setting number of votes, trump won. >> follow-up who is the bigger threat pete buttigieg or bernie sanders? pete buttigieg or bernie sanders, who is the bigger

threat? >> you don't know what happened in iowa, if you look, they are essentially tied, but they couldn't keep tabulation of their votes. >> is pete buttigieg a threat, do you see him as a threat? >> everybody is a threat. i view everybody as a threat. i even view john as a threat, you never know. >> are you concerned that china is cuddling -- >> china is working very hard, late last night i had a very good talk with president xi and we talked about mostly about the coronavirus, they are working really hard and i think they are doing a very professional job, their in touch with the world; the world organization, cdc also, we are working together, but world health is working with them, cdc is working with them, i had a great conversation last night with president xi, it's a tough situation, i think they are doing a very good job. >> are you concerned about

impact on the global economy? >> i think that chain lea do -- china will do a very good job. [inaudible] >> they should because it was a hoax. that's a very good question. should they expunge the impeachment the house, they should because it was a hoax, it was a total political hoax. >> mr. president, how do you unify -- how do you unify the country? how do you unify the country in this moment? >> you know what's going to unify the country and already unified in a lot of ways, all you have to do is look at our crowds and our support, what unifies it is the great success, our country today is more successful than it has ever been and that's unifying the country. stuart: that's what we have from the president of the united states, i will recap real fast, number one he came out with a win, the appeals court has thrown out the charge that he profited from his office, this was something brought on the

clause, thrown out, a win for president trump. he went on to say that it was a terrible thing when speaker pelosi ripped speech, he said trump derangement syndrome gets in the way and closed out remarks, he was asked how do you bring the country together and he said we brought them together and basically through prosperity, steve hilton, host of the next revolution, i really -- >> in some ways was the center piece of his reelection and said as far as he's concerned no one has achieved more in 3 years than what he's been able to do, that's the positive case and, of

course, a lot of evidence of that, not just the economy as we talk about regularly but right across spectrum of policy in terms of appointing judges, criminal justice reform, on and on it goes, the positive case, the achievements but he also was really clear about the case against the democrats using the iowa fiasco to make the point, look, these people want to take over health care, housing, huge swaths of the economy and that is a frightening prospect when you see a bunch of people at the moment seem totally incompetent. stuart: very powerful argument when you think about it, chaos in iowa, you want to have your hospital run like that? here is my opinion, the 2020 democrats are in total disarray, you've got the debacle in iowa, the party is turning on itself, even rachel maddow is calling out national democratic committee tom pérez, hold on a second, steve; maybe our viewers haven't seen this, just watch it. >> are democrats not

enthusiastic about voting and is that what the voting numbers mean? >> no, i don't think, we need to look at the broader set of data, 2017, 2018, 2019, they came out in droves, why health care. >> this was the first chance in presidential race for democrats to come show their stuff and they didn't turn out. >> we will see in new hampshire. i don't extrapolate from one state. stuart: the man had no answer, a lot of democrats are saying pérez should resign, what do you say? >> yeah, absolutely, completely pathetic, i saw the whole interview actually, his answers were pathetic, they were hyping up the vote in iowa in terms of turnout, first chance that democrats have got to go out and really tell the world what they think of the hated donald trump and they are going to come out in huge numbers, like in 2008 when they came out for barack obama and not 2016, lower

turnout with hillary clinton, just like 2016. all he could do was ramble on about the kentucky governor's race which didn't even feature donald trump on the ballot. i think they have a real problem because the truth is every single one of the candidates has got a serious defect on one kind or the other, there's no one they can be confident in that they can beat donald trump. stuart: astart at 8:00 o'clock on a friday night, do you think people will watch? >> no, that's so boring, aren't they? we know what they're going to say, we know the story; it's going to cob completely uninteresting and i just think the numbers have been declining month by month and i think we will have even more, i don't think anyone will tune into this until they finally pick someone if they can get their act together to do that and the debates, of course, with that person against president trump, they will be blockbuster. stuart: absolutely blockbuster, joe biden is down to 11% support in new hampshire poll, he's number 4, i say he's down and

almost out, what say you? >> i totally agree, i think that he's clinging on for life, he's putting it all on south carolina, he's hoping he can get out the african-american vote to save him there. but he's doomed i think and in many ways i'm sad about that, stuart, one thing that joe biden has provided us on my show, we have a weekly segment the joe biden comedy segment because every single week he produces some gaffe or other ridiculous comment that's so entertaining and if he drops out it'll be sad for all of us. stuart: you are cruel to people in their 70's, hilton. [laughter] stuart: i'm in my 70's. steve, thanks very much for joining us, always appreciate it. we will be watching you sunday night at 9:00 o'clock, thanks. quick note, on the left-hand side of the screens you're luking at a plane that is about to land in san diego,

california, they arriving tat marine station, they will bring them out and test them for the virus, maybe they will hold some in quarantine, what you're looking at evacuees arriving in the united states, now, earlier we had a cruise ship docked in new jersey, that was carrying passengers who may have the virus, coronavirus, i think, bryan llenas is in bayou, new jersey, update on this, please? >> hey, stu, good morning, anthem of the seas, royal caribbean, got here and docked this morning and everyone has disembarked from the ship, this is what we know, some 27 passengers were screened by the cdc, cdc personnel came on board, they were screened because they had traveled from mainland china, 23 of those passengers were cleared right away, four of those passengers, though, were taken to an area

hospital this morning to -- to be checked further to see if they have the coronavirus, according to royal caribbean, stu, one of those passengers had tested positive for influenza a, and so that is essentially what alerted them from what we understand from royal caribbean to then do further tests, we also know that these four passengers, four passengers had last been in china some 14 days ago, but as you can imagine, it was quite the scene this morning, ambulances out here as people were trying to figure out what was going on, that's what we could understand; the cdc according to what we understand, bayonne, low-risk situation and no need to panic, stu. stuart: thank you very much. check the market, still down close to 200 points, i think the main reason is people don't want to be holding -- we are talking about the trading community here, not you and i, the traders

are worried about holding stocks over the weekend when you might get a negative update on the virus come monday morning which brings stocks down, you might be doing selling, positioning yourself on what could be a difficult weekend, i want to bring christian in, i want to talk to you about president trump's victory lap yesterday and what he said today, some of his language was pretty harsh, he called speaker pelosi a horrible person and this morning he said that ripping up the speech which she had done was a terrible thing. he was asked, look, can we work with democrats and he says, yeah, but trump derangement syndrome gets in the way. he's taking a hard line, he's going right at her, what do you think about this? >> it take twos to tango and president trump has expressed to reach across the aisle,

infrastructure, other issues and, you know, this congress, it's been resist, resist, on confirmations for government positions that are resisted by minority democrats in the senate, so really i think it's clear at this point they will do a budget this year but other than that it will come down to voters and whether they want to continue divided government or not. stuart: christian, we are showing one of the planes carrying american evacuees either in san diego or miramar marine corps base, a crew shipped that docked in new jersey and we have president trump and president xi jinping, they talked on the phone about the coronavirus and the president was saying, look, xi has got things under control, he is going to be successful in fighting this, do you think that maybe china is being playing

down the virus, do you believe all that they are saying? >> no, i don't, i think they are lying, i think the president is right to say china is determined and xi jinping is determined because his job and maybe more depends on that, but there's a -- a very interesting thing that happened in china, dr. lee, one of the original people to identify the virus who tried to tell fellow physicians and were told to shut up, this is a problem with their communist system, peter navarro, senior adviser or senior report to the president actually predicted the outbreak because of the filthy conditions in china when he wrote his book ten years ago, it's played out exactly that way. you know, i think xi has done as much as he can to contain this -- stuart: he really has. he's taken draconian measures here to basically quarantine close to 55 million people, in some of the cities, you can't go out your house, you have one person designated to go out

every other day to buy groceries, everybody else is shut in in wuhan, they are going door to door to find out how things are going. you know, there's a limit on how long you can have a total lockdown of 55 million people and the longer it goes on the worst the effect on your economy and the spillover comes here. the economic fallout is a danger. >> it is, with the death of dr. lee that i mentioned, that was the global times that actually mouthpieced the chinese government was critical of chinese government at least in tweets, the death led to 800 million plus comments on chinese social media which is too many to censor. you don't know how this is going to get but there's so much for faith in the u.s.' ability to manage the situation than there

was in china because we don't have that kind of close society, that's why you haven't seen a big selloff, also the chinese economy is important but it's not that important to -- to us, that's something that's been discovered over the last couple of years. stuart: but if it sinks to 1% growth rate as one investment firm is saying, there will be serious fallout over here, christian, i'm out of time, i'm sure we will be watching. christian, we will see you again soon. >> thank you, stuart. stuart: what a week, we are not done either. more varney after this. what i love most about being a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. from packaging tape... to tape that can bond materials

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we are asking our viewers, you've got to watch the democratic debate tonight. the e-mails are pouring in.

>> the answer is no. i will elaborate because they are good. bob writes, i would rather celebrate the great week the president administration has, i'm certain it will be more positive and fun and watching a bunch of sore losers trying to trash president trump. >> another, a perfectly good friday night. no, i don't want to fight debate. i'll just watch tomorrow morning. a cartoon on disney plus rather. the branding and impeachment victory with friends at our favorite restaurant. also celebrating my birthday. >> dinners with my favorite friends at a restaurant. people are not going to watch because it's not entertaining.

>> is been a lot of them. the first debates in june last year, 18 million viewers. the last one in january 7.3 million. >> if president trump were part of that debate, the ratings would be astronomical because like it or not, he's entertaining. he has a way of addressing that camera which makes you watch and pulls you in. plus he's outrageous. show me a schumer, a character on the democrat side who has a sense of humor, who's not really angry and mad all the time. >> i can't wait to see between whoever the democratic nominee it's and dammit resident trump. >> the ratings will be astronomical. the numbers were in the first debate between president trump and hillary clinton.

they're not quite ready to wrap up the show, we've still got more but watch this. first of all, the markets. we are down now about 180 poin points, that's about two thirds of 1%. as we speak, the market is down. we did get a blowout jobs report. 8:30 p.m. -- 8:30 a.m. this morning, 225,000 new jobs. that's pretty good. when 83000 people came off the sidelines, came back into the workforce. that is 183,000 new paychex being delivered every month starting now. we have vice president pence on the show about 11:00 a.m. and he says tax cuts 2.0 coming this year. not sure how you get them through congress not done by the republicans.

you got to win the election first. >> good news today get they've been down. president tweeting about his phone call with china. a solid jobs report. this is for days of record highs. as you know, maybe not wanting to go into of lung we can, they've been taking this opportunity today. >> fourteen item, a very positive view this morning which he mentioned on the tape, an appeals court has thrown out the charge he profited from his office. this is the monument because of the constitution. it was an appeals court and turn out. i'm going to call but a win for the president of the united states. this man is on a roll. as he takes off with carolina, this man is writing hi compare that to the democrats, again this is my opinion, a total disarray. he appears to be down and possibly out. the headline in the washington post this morning, he spent yesterday holed up with advisors

in delaware. he's trying to figure out what to do next. >> i think he's knowing that it's burning territory and is focusing on what to do. >> good stuff. appreciate you being with us. >> thank you very much. we are walking elements from the political side but this coronavirus is taking what would otherwise be a strong market today. given that incredibly strong employment right, they are right at the jersey border. they are being evaluated at a nearby hospital for the virus. it's not record level, largely the concern that this is escalating and a lot of people are saying with this, you don't want it going into a weekend where anything is possible. let's get the latest from brian on the ground. the royal caribbean ship is the focus of a lot of international