stuart? stuart: dagen, thank you very much, indeed. could it go against all the odds could we see 22,000 on the dow this week? or even today? yeah, it could be. that's not a bad way to start a monday, is it? good morning, everyone. all right. the story is profits. business has never made so much money, and that's why stocks are on a tear. 21,830, that was friday's close, what, 169 and change away from 22,000. okay. got it. back up a little. over the weekend we have seen the following: president trump very disappointed with china's failure to rein in north korea, our u.n. ambassador says america is done talking as china's state media was calling mr. trump a greenhorn president. president xi showed off his latest weapons many a huge military parade. venezuela, ten reported dead yesterday. president maduro claims support for his plan to impose a socialist dictatorship. when will his regime end? it's on our doorstep. president trump threatens strong and swift economic action. russia, president putin will throw out hundreds of u.s. diplomat

stuart: matt, we will see you again soon. >> thank, stuart. stuart: here now, major bear.g time a crash is coming on the stock market. or at least a very significant decline. his name is dan schafer, he's president and ceo of schafer asset management. now, i believe you're saying that the tax cuts will not go through. divided republican party, hopeless congress, not going to happen. do you think that is the news item that sets off a big stock market selloff? >> yes, i do. i believe that the stock market is at levels that are predicting that this tax program will go through and save money and people will be able to spend. i don't think it's going to happen. of just look what's happening with the obamacare and the divided, like you were just talking about what's going on in washington. i just don't think that this tax program is going to get through based on the senate and the house trying to get things done for trump. of they're just trying to just block him in everything he's trying to do. and, again, the stock market is all the way up to such levels that are predicting th

stuart: okay.o buy slight larger and stock up. stuart: what about amazon, on delivery, amazon got beaten people on delivery. how about box? >> we have built a ton of fulfillment centers. you don't need a prime minister membership. most orders arrive in two days or less. 51% arrive overnight generally free shipping. stuart: really? 51% arrive overnight generally free shipping. >> $49 or over if you live close enough to one of our fulfillment centers which 51% of our population do, you get it overnight. stuart: this is privately owned? >> privately owned. started in my garage, three, four years ago when you first had me on the show. i didn't have a suit on then. stuart: i remember it well. >> you twice called it. it is a change in the industry. past 36 months. stuart: how many distribution centers do you have now? >> right now four. opened fully automated one, full robotics, mezzanine. stuart: fullly automated, order comes in on computer then what. >> vis-a-vis he software the item is assign ad tote,

stuart: and happy birthday from me as well. >> yea, stuart! [laughter] stuart: this is going to be a very big day for your money. if you've got a dime in this market, you're going to be very happy. good morning, everyone. you own facebook stock? look at. here comes another all-time high, try $176 a share. why not? profits are up 70%. and facebook has two billion active monthly users, one-third of the planet's population. by the end of the day, founder mark zuckerberg will likely be worth more than warren buffett. do you own amazon stock? here comes another all-time high. try $1,067 a share. founder jeff bezos about to to overtake bill gates and become the richest person the world. the latest financial report from amazon comes out today. oh, please, watch out. so here's the story. big tech, the fabulous five, call them what you will, are still on a tear. and they will push the overall market to levels we have never seen before. the dow is closing in on 22,000. here is the news from the swamp. not entirely depressing. the "wall street journal" r

dagen: stuart, take it away. stuart: a pleasure indeed. three stories about america, business and money, that you won't hear much about except here. good metropolitonday morning. the made in america comes to the white house lawn. the president says it's time to honor the skills trades in america, he will make a public statement. next month, he makes a big push, a public push for tax cuts. barn storm across the midwest, get it done. on tax cuts, he is taking the lead. and the plan, dismal approval ratings, the delay in the health care bill and russia, russia, russia, hurting his agenda. mr. trump wants to come back strong. investors seem to approve. 21,637, friday's close, 26th record of this calendar year. we'll open higher again, only just. this monday morning, how far we go and we're off to a start. and the world of money, don't you love it? "varney & company" is about to aga again. stuart: i'm going to call it a muted open for the stock market this morning. look, no selloff after last week's series of records. this, by the way, is profi

stuart: no.we'll be back. ♪ ♪ when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. stuart: we're coming back, we're coming back, we're coming back. we were down 105, now we're down a mere 43 points. and a lot of that loss is accounted for by general electric and microsoft, two dow stocks which are downed today. without those two stocks, you'd probably see the dow virtually dead flat. how about those big technology names? check 'em all the time. only facebook up this morning. amazon, microsoft, alphabet and apple are down but not that much. still very close to those all-time highs. >>> breaking news this hour, vice president pence meeting with conservative groups

stuart: sebastian gorka, always a pleasure. >> thanks, stuart. stuart: appreciate it. now this.eality, amazon is already testing its new meal kit service. tell me about it. ashley: up on the website, i don't have a amazon fresh password to see if it is there this morning however the slogan, we do the prep, you be the chef, they were advertising one at least ready to go meals yesterday. stark parmesan fryes, snap peas, just like that delivered to your door. you're right, what is really the story here talking about it. how that absolutely sunk blue apron's stock price last friday. here we are three days later, it is already on the website. that is the power, the juggernaut effect of amazon. stuart: it is rumored on friday. it is fact on wednesday. ashley: done. stuart: that's amazon. stuart: how do you compete with that? tough one. all right. >>> the most streamed song of all time is now the current hit, how do you pronounce that? stuart: depspito, you can hear it in the background. it reached that mark six months after it was released. this is favorite of some of our production t

stuart: okay.e president of france, emmanuel macron, standing up for the president's reasons for leaving the paris agreement. we'll have more on that in a second. however, i've just got a reading on consumer sentiment which earlier this year was at a record positive high. new numbers show -- >> down. eroding economic optimism. they came in at 93.1, that's a miss. wall street was expecting a read of 95. so they're coming down to the levels possibly we saw last october before the election when people feared recession. remember, that was under the prior administration. so, again, a big drop here. not a sizable drop -- stuart: but down. it's no longer at those record optimistic levels. >> that's correct. stuart: not yet reflected that much in the stock market. we were up, what, 20? now we're up 13. we're still up, bottom line. show me the big five technology companies, please, because they're the ones where the money is flowing in. they're the ones with the profits, they're the ones with the growth. th

stuart, take it away. stuart: thursday, july 20th, donald j. trump has been president for exactly six months. how is it going? good morning, everyone, the trump rally, the latest high, 21,640. the 26th record of this year. this began the morning after the trump win. his growth agenda turned on investors and when the swamp stalled that growth plan, profits went up big time and stocks went up some more. the trump rally has added, wait for it, 4.1 trillion dollars to the nation's wealth so far. six months in and politics, oh, that's a very different story. no major legislation passed and the president has had it, on health care, he says, don't leave town until you get it done. there is a health care vote next week. the outcome very uncertain. news developments today, sad news from senator john mccain. he's been diagnosed with an aggressive form of brain cancer. he will not be in for next week's health care vote. president trump tells the new york times, i would never have appointed jeff sessions attorney general if i knew he would recluse himself

stuart no.s the republican party which cannot demonstrate that it can govern. >> i agree it's been frustrating. by the way, we're not the collectivist party, we're a party of individuals which is why you see all this squabbling. but i think what you're going to see now is donald trump putting the pressure he needs to put on, and i think it's going to happen, and if they don't, they will pay at the ballot box. stuart: i think i got under your skin. [laughter] >> no, listen, i am onboard with you 100%. they need to do their job, but let's also look at the senate. the house passed it, it's in the senate, so let's look at that. stuart: vote this afternoon. all right. president trump is tweeting about jeff sessions, attorney general. here's the tweet from this morning. attorney general jeff sessions has taken a very weak position on hillary clinton crimes, where are e-mails and dnc servers and intel leakers? rachel, he's at it again on the tweet machine. what do you say? >> i understand his frustrati

stuart: mr.ormula kills 99.99% of odor causing bacteria and helps dissolve stains. cleaning in a better way than brushing with toothpaste. that's why dentists recommend polident. polident. cleaner, fresher, brighter every day. stuart: do something. >> it's a piece of crap bill. it's a piece of crap law. stuart: that's nothing. are you kidding? >> you're doing exactly what obama did and democrats did, you're dealing with health insurance costs, prices, not the underlying health care. reconsider your stand on health care. stuart: never, never. that's why -- ashley: round two. stuart: welcome back, eric. thank you for pointing out how right i was. [laughter] stuart: we know most of it and we have this comment from senator ted cruz, conservative, very much your kind of guy, he says, look, i'm encouraged, i think we are taking positive steps, it was a big deal that the senate draft from mitch mcconnell now includes consumer freedom amendment, amendment that my office drafted and it really focused on g

stuart varney, take it away, please. stuar stuart:. stuart: good morning, great to be back, even if it's a pile on trump day again. for the media, the president cannot do anything right, can he? he's portrayed as the odd man out at g20 and yes, of course, russia, russia, russia, that's this monday morning. a couple of positive for you. america will help other countries access and use fossil fuels more efficiently. that means america will export our natural gas. the europeans will buy it so they don't have to rely on the russians so much. and second one, president trump is talking about a very powerful deal on trade with britain, done very quickly. you really have to dig through the endless anti-trump reporting, but our president is not out in the cold as the media wants you to believe. that's politics. now we've got money. we're looking at a stock market that's hovering close to record levels. we'll open slightly flat on the dow. the nasdaq is up a bit though. please remember the dow is only a few points from its all-time record high.

stuart: okay.ator barrasso, look, thank you for taking time out, a very busy day on your position. >> thanks for having me. stuart: i want to bring in former reagan economy art laffer. i was going to talk to you about cutting taxes and health care, et cetera, et cetera, and now i want to talk to you about what's going on on wall street at this moment. dow futures show a gain of 100 points at the opening bell, because we hear janet yellen will unwind the bond holdings at the federal reserve and the market apparently likes that. do you like this idea? >> yeah, i like it very much. they never should have done quantitative ease, one, two or three or operation twist. and all the unwinding will make it better than it had been. she's doing the right thing and it should be bullish nor the u.s. >> interest rates that are very, very low are bad for the economy. "tq' you have a robust economy, interest rates reflect the rate of return on a unit capital over the time period of the instruments. you can't have l

stuart: not going to abandon twitter? >> no. stuart: no way. he's not going to stop insulting people? >> no. stuart: i've got a problem with this, if it interferes with the growth program, i think within side or the other has to adjust their position because we want to get this done. >> it doesn't have to stop being donald trump, and he'll never stop being donald trump. if you dial it back a few notches, it would be helpful. the point of all this is not have donald trump in the white house to have nice rides in marine one and go france, what he's done is hurting, not helping. stuart: the surprises, number one, apple has agreed to build three u.s. plants. number two, talking about if there is a revision, upward revision in tax rate, it will be on the rich. >> yeah. oh on the latter, steve bannon talking about that privately. he thinks it makes sense for the nationalist, populist president to make it difficult on taxes. and if trump pushed it, it would get through congress. stuart: you were a never-trumper, weren't you? >> i never got on the trai

here is stuart varney and "varney & company." stuart: thank you very much indeed. on health care, the republican party failed to govern and president trump has failed to lead. in the senate the obamacare reform bill is dead. good morning, everyone. last night the president held a state dinner and urged senators to get something done on health care. as the meal wrapped up, two more republicans announced they would vote no. mitch mcconnell announced regretfully the effort to repeal and and replace obamacare is dead. the president called for a new health care plan and said the dems will join in. they will try a simple obamacare repeal followed by a two-year transition period. however, there is no guarantee that a simple repeal bill will pass. for now obamacare lives and we have to live with it and we have to pay for it. so now, what about tax cuts? will a divided g.o.p. fail on that, too? the president growth agenda is threatened and given the house and senate and the white house to the republicans, what will the voters do in the next election? all good questions with

stuart's mom, oliver's daughter, dies when stuart is only six -- a tragedy that separates him further from his grandfather. >> we would come to town to visit my grandfather, and grandpa had all these cars out in front of his property. it's like a little boy's wonderland. and he had them protected with a fence and with big mean dogs. we couldn't get past the dogs. >> did you ever wish that he spent more time with you? >> you know -- >> were you curious about him? >> yeah, i was eager for the opportunity to get to know him. >> after his mother's death, stuart and his family move away. when stuart graduates high school in 1984, he decides to take a summer road trip back to enid. >> i got a greyhound bus ticket and went out to enid on my own. he took me over to his shop, and for the first time, i got to spend some time with my grandfather. >> and with all those cars. sure, they look like heaps of scrap, but stuart comes to understand this was his grandfather's pride and joy, his collection. its centerpiece -- these two depression-era cords. >> grandpa had a fascination with the cord, beca

stuart: the tax reform program you are working on. a couple bombshells here. the president told the wall street journal he is not averse to raising taxes on high income people and we have this report that steve bannon is talking about a 44% rate on people who make $5 million or more, taxing the rich from a republican administration. is that being actively discussed inside white house? >> the major goals of tax reform are it is fair and simple, that it is true middle-class tax relief and reform and it makes our employers more competitive to create jobs, to offer employment to americans here at home so employers main competitor, one of the highest tax in the world and we have been strangling our entrepreneurs. do you know how many, how do we quantify people -- stuart: is the administration in favor of taxing rich people more or not? >> the administration is in favor of middle-class tax relief which is different but the good thing about working for this president and this administration is he does not shirk away from hearing different insights and disagreement an

stuart: that's right. chris: faced with delays and excuses, thousands of fed-up lily customers requested refunds, and got them, including one who enlisted the response team at our nbc sister station in washington dc. female: never suspected it was going to take 18 months. chris: but people like stuart, and kyra in milpitas, and james in san mateo, and gobs of others who've sounded off on social media did not get refunds. stuart: never got responded to. chris: stuart and others turned to us for help. we made multiple requests on their behalf. we asked where the $38 million went, and whether customers would get their money back. but lily's responses equal the number of drones it delivered, zero. the outlook was bad. then the situation got worse. the san francisco district attorney sued lily, accusing it of false advertising and misleading representations. the suit claims lily's promotional videos weren't actually shot with a lily. some footage was allegedly shot by a competitor's drone. and according to the

issue is a passionate one for those from jeb stuart high. >> justin, you mentioned that stuart. just stuart might be the new name without the jeb part of it. what would that change? >> reporter: that was an interesting twist here. a compromise of sorts. a motion that would say, hey maybe we can just call the school stuart high. remove the jeb, the stigma. may not clear the public. they will have input on the issue and a round of meetings set to start soon on the renaming of jeb stuart high. that is the latest here in falls church. i'm justin finch. news 4. back to the studio. >> justin, thanks. >>> we're following a developing story this morning. an 18-year-old woman in critical condition after a shooting in fredericksburg just before 9:00 last night. officers received reports of gunshots on tyler street, not far from dixon park if you're familiar with that area. police say when they arrived, they found the woman was shot in the head. police have not released any suspect information but ask anybody that knows about this to call police immediately. >>> this man behind bars in con

lee, but jeb stuart high school. so here's the question. should jeb stuart continue to have a public high school named after him? jeb short for james eulle brown stuart led many battles in virginia. tanks are named after him because of his military deception techniques on high school named after him. he was only 3 is years old -- 31 years old when he was mortally wounded in battle during the civil war in 1864. some students say keeping his name is about preserving history. >> he did many great things with his life. he loved virginia so much he was willing like robert e. lee. they both decided instead of taking high positions in the army they joined the south because they didn't want to raise their hand against virginia. >> others say public schools should snot be named after confederate leaders. >> i feel the name has a controversial part of our community. changing it would help bring us together considering we're minority-majority school. >> whether or not stuart was a slave owner depends on who you ask. he inherited two slaves, then relea

and stuart and cooke never spoke again. he said, he will only regret it once and it will be continually. only once, but forever. anyway, jeb stuart discovers what lee needs to know, so they decide to launch the attack against the right flank. in other words, the part of the army north of the chickahominy river. and lee will do that by bringing stonewall jackson back from the shenandoah valley. jackson had finished his campaign to great credit to himself. he becomes a legend in the confederate press. everybody loves jackson and they want jackson, so lee says, bring your army here to richmond and you can be the one to initiate the attack on the right flank. so this sets up what we are going to know as the seven days battles, because the campaign takes place over the course of a week. and while there is not a battle on every single day, there are battles for five days. so we refer to it as as the seven days battle. so, how it works is, you can see from the map that lee leaves a small portion of his army south of the river. he

stuart high school named after confederate general.he school board says the name doesn't represent the current values of fairfax county. fox5's annie yu will have more on this coming up. >> 4:36 right now. wisdom, i never like the sound of a very rainy weekend. >> it's never good. >> never good but i got good news for sunday. does look like sunday may turn out okay so some hope there. >> wait a minute mike. i i know want to talk about sunday. but we got a zip trip today. >> to congress heights. >> so far so good there so let's get straight to it t let's get to the weather. here's what you can expect. here's satellite and radar for you showing you what's going on outside right n in fact even a little bit of clearing around the d.c. region start the day here. area of low pressure which is our storm system still going to be getting organized over the next few hours here. it's not really until the afternoon and evening hours that these showers and thunderstorms will really kick up. reagan national 77, bwi 76 trees. here's your planner for

now, you might remember corey stuart got a lot of attention during his last campaign standing up for federal memorial. but he told me today that may not be a senate piece because he sees that as a state responsibility, not a federal responsibility. >> corey stuart is going to make so many people in his own party mad, why get such an early start on this, why but he says he feels like he has to get started now. this is going to be an expensive race. he may have other gop challengers, he wants to get that going right away. he couldn't stand being out in four weeks. >> he likes the publicity. >> exactly. >> thank you, julie. >> when we come right back, we'll have a live report from the national mall to see how people are coping with all our heat today as we track the threat of more storms tomorrow. >> a grim discovery on pennsylvania farm brings police one step closer to solving the >>> the man in custody has confessed to his role in killing the man. it comes after the remains of police warned victim was found on a sprawling property. dan has the latest on this investigation. >> the news

really liked jeb stuart high school.eat for her. now she can't even say she graduated from jeb stuart high school. >> my understanding is it was just decided to change the name x there's going to be a community process. >> reporter: now, also passed last night, a motion suggesting that perhaps they remove the jeb from that name and just keep stuart high school as it's known local anyways. it's too soon to say if that will be continued. a lot of people have feelings about the stuart name being involved in any of this. of course, lots of passion about the name being changed. of course, expect the same with the new name going forward. live here in falls church, i'm justin finch, back to you. >> justin, thank you. >>> more changes to charles county public schools of after a former employee is charged with sexually assaulting students and producing child pornography. there is an informational meeting about helping students and teachers recognize sexual harassme harassment. >>> now to a warning for parents. a leesburg mom says

as far as jeb stuart, jeb stuart was not an owner of for this name change to occur? is this going to make our kids smarter? is this million dollars that's going to be spent , could that be spent elsewhere. >> is the neighborhoods and the people here to be polar riced. stop honoring people that fought to keep peoplen slaved. >> there's been a lot of talk there tonight, are they going to make a decision tonight? >>reporter: good evening, tony and shawn. tony, yes, they are going to be making a decision tonight and you actually hit it on the head earlier when you said that it's been a heated debate this past year. it's been a heated, very contention debate tonight, not only did we see both sides, the opposition and support go in front of the board and passionately explain whether or not they wanted to change the name of jeb stuart high school, but we also saw a contention shoes disee bates even between board members. it's been a two hour today bielt . board members have been talking for the last two hours or so also hearing like i mentioned before, from the public as we

they have voted to officially change the name jeb stuart high school going forward. they were saying, though, not want to make the same mistake as the previous board or not even a mistake but they don't want to go back 50 years, 100 years from now and have to do the same thing over again so they're going to have to be very careful considering the name going forward. however, they are hoping to have a name for the 2019 school year. it was a very passionate, very contentious debate on both sides of the argument. like i mentioned, nearly four hours of dislib ergs from both sides. you hear from one of the sides there speaking very passionately about changing the name, what it means to them, for them they were saying on their argument that jeb stuart doesn't represent the current values and the integrity of the school and of fairfax county, the community itself. they represent inclusion. they represent equity and also representing diversity as a whole and as a school and therefore that was their main reason for wanting to change the name. as far as change the name in itse

stuart broad getting a brilliant wicket on a brilliant day for england.ecial day and coming and we knew we wanted to try to push ourselves as hard as possible. still pretty testing conditions at times and i thought it was outstanding. we always felt it would be pretty competitive in the game, so it is very hard when you have got guys at the end of year mark with the experience ofjimmy and stuart and they were pretty calm and stuart and they were pretty calm and guided me through the opening few overs and then the adrenaline to keep me going. more bad news for south africa because their fast bowler vernon philander is spending the night in hospital on a drip after missing large spells of the match so far with a stomach bug. it's unlikely that he will be able to bat tomorrow. great britain have added a fourth swimming gold to the their tally at the world aquatics championships in budapest. the men's 200 metres relay team — the defending champions — were led home byjames guy. his final leg taking gb from third to first... great britain won it in russia two y

jeb stuart was a confederate general. reaction to the vote was mixed. it's still unclear what the school's new name will be. we did some digging and learned, this isn't the only school in virginia named "jeb stuart." there are two elementary schools with the same name.. one in richmond, the other in petersburg. developing now in alexandria, a 17-year-old - now charged with shooting 3 people all three of the victims - are expected to recover. police- not releasing the suspected gunman's name- because of his age. no motive has been given. a man is behind bars this morning, in connection with a stabbing and a house fire in woodbridge. it happened on east longview drive - police found a woman stabbed and the house on fire. noel quinteros-ramirez is charged with malicious wounding. three police officers suffered smoke inhalation, while trying to help the stabbing victim. the redskins are gearing up for day two of training camp this morning. the players are hard at work, practing twice a day - but the big story, kirk cousins. the skins quarterback, addressed

stuart high school. told that it was in 1958 when the high school was officially named again after the confederate army general and it wasn't until, though, 2015, 2015 i should say that actress julian moore and hollywood producer bruce cohen petitioned for this name change. they had gone to school here and since then it's garnered a lot of support and opposition. as far as the opposition goes, we told you a little bit ago about the taxpayer protection alliance. they did some digging on their end and they found out that it would cost taxpayers this name change alone nearly $1 million. so, the question for them or their argument i should say is is this $1 m name change? is this $1 million going to make their kids smarter? that's the argument there. but again, hearing from the community who has since supported this name change, they were saying that j.e.b. stuart essentially that name does not support what they value and their integrity of the school. yet alone in fairfax county the inclusiveness, the equal

his name is actually james brown stuart, and he goes by jeb. assignments him an that any cover a commander would crave. he says i want you to write out -- ride out far onto the flights of the union army and tell me what the right flank looks like. what does it look like north of the river. and do i have an approach to attack from that direction. so he gives steward some discretion and says, the purge it how you want, but he urges him to be careful, do not lose your force. do not go crazy. and recovery officer thinks, this gives me the opportunity to make a name for myself and what he will do is he will make a name for himself by going entirely around the union army. robert e. lee says go to the north and see what it looks like over there. but once stuart got the information, he would have to come back. that is not cool enough. that will not make me a legend. rt goes all the way around mcclellan 's army. and while they are doing that, themnion calvary discovers and they start pursuing jeb stuart. philip st. george cooke was instrumental in sort

jeb stuart high school in falls church- will get a new name. the fairfax county school board voted last night-- after months of public debate. the school is currently named after a confederate general. but changing it-- will cost the district up to 700-thousand dollars. reaction was mixed shortly after last night's meeting. according to the school board, the new name will county's diversity. the change must take place no later than the start of the 2019 school year. we did a little digging and found out this isn't the only school named "jeb" stuart in virginia. there's an elementary school with the name in richmond- and also one in petersburg. batter up. the nationals make history at the ball park and send a lot of fans home with souvenirs. the eye popping highlights-- coming up. plus, a weekend storm-- heading this way. the morning commute will be dry-- but what about the evening rush? your complete stormwatch weekend forecast, coming up. trt :08 fios is not cable. we're a 100% fiber optic network. and with the new fios gigabit conne