Transcripts For FBC Varney Company 20171122

Now investors, well, they like all of this, apparently, new records for stocks across the board yesterday and those high levels will be held this morning. No retreat maybe a marginal gain again. The improving vote count for tax cuts does go down well on wall street. Theres another huge black eye for uber, they were hacked. Information on 57 million customers got out, uber delayed a year before telling the world and they spent a 100,000 bucks to keep it quiet for so long, thats not good. As you can tell, we cover it all, Varney Company is about to begin. Dote, wait up. You have to stay with me, boy. You dont know where we are. Stuart well that is the latest, it is a blockbuster from pixar, its called coco and being released today, however, the chief creative officer at pixar studios john is taking a leave of absence amid Sexual Harassment allegations. Does this mean the next pixar movies will not have the creative impact . Ashley that could be the case. If its long term, the could have big impact, john, oversaw some of disneys pixars biggest hit. Competent executive produced frozen and zootopia and coco, hes helped turn it around, if he goes permanently, thats going to be bad news for disney. Stuart pixar is a gem. Brilliant movies. By the way, some of the importance is reflected on the fact that hes not leaving, hes taking a sibatical. Stuart this is liz peek, by the way. [laughter] stuart lets look at the market, we will go up at the opening bell today, not a whole lot, we will be up. Remember, please, we set records all across the board yesterday, now ive got some individual stocks that are moving, first, deere, they call the tractor company, the rosy outlook. The stock is up nearly 5 , big deal. However, General Electric still rumbling around in the 17dollar her share level, no huge recovery yet for ge. Now, politics. Alaska republican senator Lisa Murkowski says shes for repealing the individual mandate in obamacare. I think i think that likely puts her in the yes column when it comes to tax cuts, lets see if larry media editor agrees, i say this is a plus, what say you, larry . Let me put it the other way, i wouldnt blame Mitch Mcconnell for turning to wild turkey. Stuart you have been practicing the line all morning . This is a big deal. A little bit inside baseball here and i know that the Varney Company viewers are read in and they follow along, in her statement she supports repeal mandate but she wants to bring a vote for Alexander Murray Health Insurance stabilization bill. Compromise between lamar alexander, republican from tennessee and patty murray from washington, a democrat. It basically would reverse President Trumps hope that obamacare would just die on its own. It would stabilize and lifeline for obamacare. My guess is there was horse trading here and exchange for her support on this tax bill, she will get a floor vote on this this Health Insurance. Stuart you see a lot of this kind of thing, its called horse trading, sausagemaking, call it what you want. I dont think it stands a chance in the house so its not going to affect the president s agenda on obamacare. Stuart President Trump wants flat out, he wants a republican win in the alabama election, he says we dont need a liberal in the senate, roll tape. I could tell you one thing for sure, we dont need a liberal person in there, a democrat jones, ive looked at his record, let me just tell you, roy moore denies it, thats all i can say, he denies it. And by the way, he totally denies it. Stuart larry, he wants 52 republican seats and he doesnt care who they are, right . Yeah, listen the senate is a legislative body and its all about getting those votes and i think thats how the president is looking at it pragmatically, that means the republican brand will be the brand of roy moore, poster child for the republicans, whats interesting here, though, stuart, if you look at news events to have week, some people are recognizing the fact that the democrats can easily be now labeled the party of al franken, im not saying that they are all equally guilty but mess of horrible stories out of this town right now that i think they are making the political calculation that everyone thinks that politicians in dc are horrible so listen, as long as this one votes for me, he is my guy. Stuart youre exactly, right, larry. By the way, lay off the wild turkey and with a name like oh connor i think you should go big on bush mills. I will. You too, stuart, and all the company around you. Stuart good man, larry. Ashley very nice. Stuart lets get to your money, the nitty gritty of this country this program. Liz and the country. Stuart and the country, it is true. Bank of america sees the bull market end of next year, stocks will rally 11 next year. Liz peek, which side of the fence are you on . Im definitely on the side of Goldman Sachs and wall street firms that have a similar expectation based mainly on the growth of appearings. Most people are looking at doubledigit Earnings Growth, the bank of america analysis really comes down to looking for the emergence of rational exuberance, again, we are going to note that in various ways but the only economic thing that we are talking about is wage growth and, you know, part of me says wage growth is what we have all been waiting for, in fact, tax reform, the growth of the economy leads to higher wages, thats a good thing. You know, obviously nobody knows and by the way, bank of america is looking for a big surge in the market before we reach levels so you cant get too worried about that. Stuart lizzie. Huge number, big number of wall street shops calling for doubledigit returns, ubs, Deutsche Bank and swiss. Stuart a bit late. They are all going. No wonder we dont spend much time with the analysts on the program. However, we have one with us now. [laughter] stuart we are told that this will be the biggest spending holiday period since 2007. Personally, i think it would be the biggest ever. The Strategic Resource Group is with us now. Huge, biggest ever, what do you say . I agree with ana maria monteroa biggest ever. Stuart biggest period ahead, biggest spending period ever in the United States of america . Because we are hitting on the four corner stone, stuart, with higher oil prices, better housing, better manufacturing, more spending, more Consumer Confidence, retail does better, consumers take on more credit and are willing to charge and have confidence in the future. Stuart you and i have covered amazon and walmart extensively. Which retail was the biggest winner of 2017 so far . So far amazon and coming around the clubhouse heading to finish line walmart. Stuart apart from amazon and walmart . Ross stores. Stuart off price. Genre, discounters. Discounters, big lots, bargain stores, dress for less, burlington, accessory stores along with restoration hardware. Stuart why are they so big . People have pricewater house, they know where low prices are and they get it in store or online but typically twothirds, close to twothirds, always the lowest price and thats why in pricing study after amazon lowered prices at whole foods, amazon whole foods in store was still 73 higher than wynco, the low price leader in the u. S. Stuart if it was this time next year, who is the best winner . You said deere, walmart, ross dress for less in addition bjs, as well as winco. Stuart have a good thanksgiving. Great thanksgiving to you and team. Stuart uber, uhuh hacked. The company try today keep it quiet, they paid to keep it quiet. We will deal with it. Donna brazile, i asked her about those deplorables and if you missed it, youre going to want to hear what she said, more varney next. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Stuart if you look at futures market you will see we are going up, not much but we are going up but the opening bell, records across the board yesterday, moving higher again this morning. Not bad. Lets get to the north Korean Defector as you know, doctors found parasites riddling his body. That was the news a couple of days ago. News this morning is we have the video of escape and, ash, walk us through it. Ashley be warned, this is dramatic. You will see the truck driven by this defector, a 24yearold north Korean Military guy. We can roll the video. Here it goes. This is the truck hes driving, he will go straight past checkpoint on the north, the White Building is a checkpoint from north korean side. He will blow right through there and making a dash for the south korean border. There he goes, he crashes the truck into that ditch, he tries desperately to get it out of there, then on foot, make it is run for it. North korean soldiers to the right starting to fire at him, he is, indeed, shot, he survives and lying down there and what youll see next troops from south korea will crawl to get him and drag him across demilitary sized zone, incredibly despite being shot five times he has been operated on two or three times now and showing signs of recovery but that was his mad dash for freedom. Wow. Ashley gives you an idea what they go through. Stuart i want to say on north korea, the author of a book which we will get to later, you say that in north korea President Trump has talked himself backed himself into a corner and could only get out of it by getting military action, is that your point . No, thats not what i said is rhetoric and his tweeting puts trump in position, makes threat, theres a danger, he may feel he has to make good on the threats, however, thats not im not saying here that trump definitely needs to use force, im saying his rhetoric is dangerous because hes putting himself in a situation eventually where he is going to feel he has to use force otherwise not prepared to do anything about it. Stuart but he is. The only president that managed to get china to do something about it, no . Well, its true that he has china has shown more shown more forceful this time on the sanctions front, yes, on the other hand, you know, by attacking and making personal attacks on kim jong un i think North Koreans take this very personally, this is going to force them to take a tougher position. You dont approve, do you . You dont approve of our president , do you . Its really a case of whether the rhetoric and personal insults, theyre not a way stuart youre not used to him, are you . Youre not used to him. [laughter] no one is used to him. Stuart thats right. Even his own advisers. Stuart im sorry we are kind of short on time because we have a very full news day, thanks very much for being was, we do appreciate it. Thanks very much, indeed, sir, tens of thousands of uber accounts hacked and company paid to shut it down, make it secret, we have the full story for you. We will take another check at market action, we are up not that much, 43 points higher, 23,600, here we come. Back in a moment. With a level of protection in down markets. So you can head into retirement with confidence. Brighthouse financial established by metlife. Stuart what do we have here . Gold, close to 1300 bucks an ounce. Not Much Movement in gold recently. Uber, i wish i could quote the stock, you cant, its private, they concealed a cyber attack that exposed 57 Million Peoples data and uber paid 100,000dollar ransom. Liz to get the data deleted. When you watch you see the timeline of this, you to say ubers name is now synonymous with scandal. A year ago a hack occurred. The hackers broke in, they stole data for 15 million customers and 7 million drivers, they then covered it up, what happened right at the time, uber was talking to u. S. Government, was in trouble with the u. S. Government over lack of security and disclosures about their hacks, so then what happened was, outside law firm hired by the board investigated poor Security Team at uber discovered it. Travis knew about it a month after hack occurred and didnt tell anybody. This is a company, you to wonder about the 70 billiondollar valuation, has five criminal probes, london and the u. S. Is examining it. You have to wonder how its going to go public at what price. Stuart that hurts. You never can. Ashley not this day and age. Just because you pay right. It was a stupid decision on every count. Liz conceal it. Stuart new guy at uber has a lot of cleaning up to do. Hes inherited awful problems. Ashley certainly has. Stuart okay, thats the new guy to uber, there he is. He doesnt look happy. Stuart okay. Please can you show me the video we saw the video or still shot of the traffic at los angeles there you go. Thats lax traffic. Ashley thats like a normal day in la. I used to live there. However, worst possible time to be on la freeway. Stuart approach to lax airport. Look at that. Ashley looks very christmasy, though. [laughter] stuart whats about a record travel from aaa . 49 Million People will travel this thanksgiving. A million more than a million more traveling this year than next year. This will put a smile back on your face. They are paying less for gas this year, a lot less. Stuart no they are not . Ashley triple says they are, they are still some place where is its close to 2 depending on where you live. Stuart okay. All right. Lizzie, what are you going to do for thanksgiving lunch . Liz talking politics. Some of my relatives they love to talk politics, some will fight with the turkey if they could. If theres too much fighting here is our rule, go sit at the childrens table. Liberals go outside and scream at the sky. Stuart conservative gathering . Its a mixed gathering. Stuart diverse. Liz i would put my head in the ceiling fan. [laughter] magazine gq says its moral duty to fight with your trumploving relatives. Ashley really . Game on. Liz thats what obama said, get in their face. Ashley thats what stu said this morning. Get in there. How offensive is that . Stuart my thanksgiving dinner table theyll be free speech. We do have some people who dont agree with my conservative politics. I encourage them to voice it. Sure. You dont have to get nasty. Liz does anybody end up some people cry and go sit in the car. [laughter] liz does that happen in your house . They just dont get dinner. Stuart we have to go. Chitchat, far too much of that, the opening bell is next and we are going to go up. [laughter] stuart all right, i will spell it out, we are really going to go up, 40odd points for dow jones, maybe 2 points up for s p and nasdaq will go up about 8, all of them set records yesterday, we will go up some more, back in a second whoooo. When it comes to travel, i sweat the details. Late checkout. Downalternative pillows. And of course, price. Tripadvisor helps you book a. Hotel without breaking a sweat. Because we now instantly. Search over 200 booking sites. To find you the lowest price. On the hotel you want. Dont sweat your booking. Tripadvisor. The latest reviews. The lowest prices. Stuart right on time, the market has just opened this wednesday morning. You know, it has kind of a friday feel because its a holiday week but it is a wednesday morning, we have opened higher, its not a huge rally. We are down a couple of points in the very, very early going. Maybe thatll turn around, look, bottom line is, winners and losers of dow 30 pretty much even. Pretty much a dead flat opening, not quite what we expected. Ashley not as many shares traded today. A lot of people on the roads, more volatile. Stuart there you go. Something is open. Up we go 5 points. How about the s p 2500, that is up. 03 , the nasdaq is also pretty much flat, that is up. 1. New record high for nasdaq, 6,870. You know, when this rally began, i never thought we would get above 5,000 as we were 20 years ago but we are 6. 8 as we speak. Ashley webster, Elizabeth Mcdonald and elizabeth peek and we have two big banks making two very different calls on the stock market. Next year, end of the bull market, Goldman Sachs, next year stocks go up 11 . Dr, which side of the fence are you on . Well, i have to go with goldman on this one, stuart, because goldmans reasoning was that earnings had been strong and they can they consider that earnings will continue to be strong. I think that will continue to be a driver but the things we love to talk about, reduced regulation, tax bill, this year or whatever we can get it through, we will continue to be drivers. Stuart okay, so you think we are still going up some more, is that right, dr . That is absolutely correct. And especially december is the biggest up month of all the 12 months, it averages since 1928, 1. 5 , so dow 24,000 is within reach and probability. Stuart the market is going up. 24,000 by christmas . I think it could get there for sure. We will have big retail season. People are feeling upbeat. All indicators point to that and when consumers are up to beat they go and spend money. Stuart disney stock up a quarter, 25 cents this morning. But pixars chief is taking a leave of absence, pixar prints money for disney, it is a unit of disney, every time pixar releases a mee voo up she goes, that gentleman, hes taking a leave of absence, the creation, the creative guy behind pixar, dr, do you think his leaving taking a leave of absence will hurt disneys stock long term . He has been a creative bull work there, stuart, you know, he has been responsible for some of their biggest films dating all the way back to toy story and has been obviously had finger in every creative pie since. Now, with whats going on with the with this issue and the Sexual Harassment issue in general, its been on the wrong side for too far, its swijing back and maybe making things people think about things and do things better but to the business question, i think a sixmonth leave of absence for him will not impact the stock directly at all. Ashley thats the whole point, dr, you know, six months is the way they are calling it. If he comes back, they should be okay, hell have Creative Genius back there but if this is a longterm thing, its a big blow for pixar and disney. Stuart we broke above 23,600. This is not a huge rally by any means. Look at the level, the level, the level. 23,600. 400 points away from 24,000. Weve got to look at ge, very much in the news and it has been for some time now. Still stuck at 17 per share. Economic indicater for you of sorts, deere, john deere, the tractor people, they look down the road and strong profits, strong sales, the stock is up nearly 4 , thats 5 bucks 144 on deere. Guess, 12 down on that particular stock. Meg whitman stepping down, shes been there for six years, the market doesnt like her leaving, down 6 on that stock. How about tesla . We hear they are burning through 4 billion a year in cash and the company says some model 3 reservation holders will get their cars delivered in about four weeks, there has been a very long delay. Do you own tesla stock, dr, would you buy it now . I do not own that stock and i think it has some more pulling back to do here with the problems they are having with model 3, you might remember when they announced that and how much money they made on the noirr taking orders, taking reservation orders, ash and i looked at each other i saidly take the under on meeting production goals, thats happened. [laughter] i think this stock over the long haul, the technology will do well, i think it has more upside but not yet. Stuart got it. How about walmart . They are secretly testing selfdriving floor scrubbers, robots appear to have arrived, what do you say to that . Liz none of them will be paid minimum wage, right . They are using robots to check the shelves, 13 straight quarters of stores going up at walmart, Customer Service is improving, you cant unionize robot, fight for 15, minimum wage, you dont hear it anymore at walmart. Stuart robots are response to 15 an hour. Fight for 15 is broadening, its not giving up. In new jersey, new democratic governor who was just elected is very strongly pushing for the 15dollar minimum wage in new jersey. I just really think its such an easy thing to tell people who voted for you, yes, your life is going to be better, we are going to do this, the downside is really palpable and we are seeing it in issues like walmart scrubbers. Liz you do want to pay workers more but this is obama economy, minimum wage retail job the way to raise families, no, a steppingstone on the career path to betterpaying job. Its going to happen organically in this company. Stuart dr, make your point. Yeah, there is a wage issue here. That might accelerate things. You have to remember, technology is going to be a free market driver, whats happening here is they are taking Driverless Cars technology and putting them on a floor scrubber, thats expanding that research thats been put into that technology of cameras and lasers and everything to measure and using it to keep floors screen. This will not slow down but accelerate. Stuart i find it fascinating. [laughter] stuart they call it emma. [laughter] stuart all right, Holiday Shopping season is here, ladies and gentlemen, has arrived. Of course, yes, there is amazon and, yes, there is walmart. But who else is making the running in the retailing business . Liz . Tjmaxx and discounters for sure. The tensions are going to continue the amount of online shopping, continues to go up, some companies are doing it well, some i actually look at a lot of the Department Stores and my heart is sad. I went into saks fifth avenue, a store that needs to pump up Customer Service, they have shut down Customer Service department. Thats a fact. Ashley thats giving in. Yes, isnt it . Costcutting is take get away from any reason you might have to frequent brick and mortar establishment. Stuart anecdotal evidence ashley depressing some of the Department Stores, jc penny. Stuart Lisa Murkowski supports repealing individual mandate in obamacare n my opinion, that makes it more likely that she will be a yes for overall tax cuts. I think youre going in that way, do you agree . Cover other senators to follow her and vote yes. She made a powerful argument in editorial today, the number of alaskans in obamacare is steadily dropping and has been for years, why, she thinks its wrong to have a tax penalty to coerce people into buying a product they cannot afford. Powerful opinion by Lisa Murkowski. Stuart news suggest that is shes probably a yet of taxcutting the overall package. Absolutely, she could bring Susan Collins and other people who are on the fence for the same reason. Theres the other issue of the murrayalexander agreement you know what, we need to get the yes on the tax thing. Yes on the senate. Stuart do you think its a plus and plus on the market . I believe it is, stuart. Im actually when i read that i was surprised that we werent up stronger this morning because i think thats a pretty big deal to both liz and lizs point that this could provide some great cover for some other people to pull along with her and not seem like theyre stepping out from their previous position. I think this goes well. Stuart got it. I have to say goodbye to dr and liz peek, both of you have a great thanksgiving. You too. Stuart thank you very much, indeed. Thank you, stuart. Stuart we are down 12 points. I thought we would be opening higher than that. Futures point today 40point gain. We are down 11 as we speak. I will say it again, im not afraid to talk politics in thanksgiving, what does father Jonathan Murray think about that, what he has to say, he will join us shortly. At the top of the hour, President Trump packing the federal courts with conservatives, again, my opinion, i think its a big win and yet youve heard almost nothing about it but we are on it. Great story. Back in a second. Lets begin. Yes or no . Do you want the same tools and seamless experience across web and tablet . Do you want 4. 95 commissions for stocks, 0. 50 options contracts . 1. 50 futures contracts . What about a dedicated service team of trading specialists . Did you say yes . Good, then its time for power e trade. The platform, price and service that gives you the edge you need. Looks like we have a couple seconds left. Lets do some card twirling twirling cards e trade. The original place to invest online. Stuart now the market very low volume. Down 3 points, 23,587 is where we are. The market is opened again on friday but only for a half day. So youve got a very shortened week with low volume. Thats whats happening. Now we have apple reportedly they bought a Virtual Reality headset maker, tell me about it, nicole, please. Nicole augmented reality. The downside of the head sets is they are bulky and have lag time but apple is working on augmented reality head sets fbi year 2020 and that they are buy august Company Called vervana from montreal, canada, a startup in 2005 and raised 2 million bucks but this is whats developing. Apple has declined xent but did not deny the story and vervana had no reply. Virtual reality in the making, a wave of the future but im not sure if youll be ready to wear the head set. Stuart, no i get seasick. Nicole, nauch, families cut thanksgiving celebration short by average of 20 to 30 minutes last year because of politics. Joining us now fox news contributor, father jonathan morris. What do you say, father, no politics at thanks giving . No, i wont say that. I know you wouldnt say that either, stuart, because whats worst than talking politics is having superficial chitchat in which you leave the thanksgiving meal, you live the holiday without having done anything or gotten to know each other better. I think there probably is prudence needed, knowing who youre talking to about what. I think, you know, tough conversations are sometimes good conversations. Stuart absolutely, father. Youre dead right on this. The whole point is this is the United States of america. We dont suppress opinion, we talk it out, but in a civilized fashion. You dont want to get into a shouting match in thanksgiving table dinner, of course, you dont. Theres no problem with airing your views and having a vigorous conversation. Listening to others. I know youre interested in listening to others. When im right you admit that im right. [laughter] stuart you are being sarcastic, thats a terrible thing. [laughter] and in all honesty, stuart, one thing we can do is put some structure into the family time together, what my parents used to do always, everyone would be invited over and you had to bring some sort of symbol for which you were great that would represent something youre grateful for that year and people would have to guess what that symbolizes and it was a great way to have keep conversation without talking politics. Stuart now, we are going to have our thanksgiving dinner at my farm which is out in the country. What we have done, weve eaten apple pie from our garden and literally walk around drive around gods glory, religious component of thanksgiving lunch, are you with me on this . I like it, you know what you could also read abraham lincolns thanksgiving proclamation. Its beautiful. You know, it is kind of awkward. Stuart maybely get somebody else to read. [laughter] stuart wait a second, before you go, we still have a couple of minutes left, father, you brought along a picture of your family and there it is. Thats your whole family. Now its on the screen, i hope can you see it . Okay. Tell us who is in that picture. Ashley great picture. We are down in florida celebrating my parents 50th wedding anniversary. Fiftieth wedding anniversary. These are 18 of grandchildren, thats me in the center with my dog, my dad is right behind me and my mom is to his left, they celebrate 50 years in these months. I also brought if you dont mind, stuart, a few of my nephews, they are in the studio and they are dying to make debut and they are really hoping somehow to get recognized and to make it big in life. Ashley very shy. This is their chance. Stuart wait a second. Those youngsters look like fine americans to me. Are they going to be discussing Politics Around the table . They are the most conservative people pretty conservative people i would say. They are wonderful. These are two of them are my godsons but theres 18, 18 of the grandkids with us from two months old up until 22. Stuart you know, father, i have to say you have a handsome family. Those are finelooking young men right there. They really are. Say hi to them all for us. We wish you the best thank you, we have kept mics away from them because we do recognize that this is a family program. [laughter] stuart come on, father, they look like fine young men to me, decent people, they are good, they are all right. You have a great thanksgiving. Our very best to mom and dad on special occasion, seriously. Good stuff. Ashley how heart warming . Stuart his family looks a lot like mine. I keep saying to everybody, three races, nationalities, we are americans, i like to celebrate that, whats wrong with that. Nothing. This is thanksgiving, this is america, its a wonderful thing. I wish it was 18 years old and i had the energy to celebrate. Ashley with your knowledge of today. With my current money experience [laughter] ashley 18 years old. Stuart i want it, whats wrong with that . Check the market, why dont you . Not going very far this morning. More losers in red than winners in green. 23. 5 is where we are. Kevin brady on expected exodus of highincome earners from hightaxed states like his own state, texas, no wonder hes smiling, we will be back. Stuart yet another alltime high for amazon. Earlier it reached 1146. 77, who is counting . Same story with the russell 2000, another indicater for small companies. Just in time for holidays, people we hear are having trouble paying down debt. Lauren simonetti has that story. What is it . Delinquency rates are up . Lauren what you need to know is we learned earlier that total Household Debt is at record 13 trillion. A big part of that is credit card debt, now we are learning that delinquencies that are serious, more than 90 days late, they are rising more for crad credit card and we are swiping the card and not paying it off. A quarter of millennials are still paying last christmas debt. So youre still paying off credit card bills from last year. Stuart i dont know how you can prove that some millennials lauren a survey. Stuart news on dling wengies on credit card debt, thats going up, thats important. Lauren is this a sign of whats to come, are lenders being giving out credit cards too easily and extending credit too easily, did we learn anything from the financial crisis, do we not care . Do we have to have when we want it . Order food right away and get something delivered and two hours later and youre constantly paying and swiping or pressing a button on your phone. Stuart are you a millennial . Borderline. Stuart im not going to ask how old you are. Lauren 36. Stuart a lot of millennials are living at home, 20 of 26 to 34, thats the age cohort, 20 of them live at home and the number has gone up. Liz gone up over the last five years, you can understand if youre just out of college, if youre a parent and struggling with 1. 3 trillion now in Student Loan Debt but that cohort is 34yearolds, so im thinking its way ashley get out of the basement at 34. Liz waynes world that meets the golden girls scenario. Is it high rent, is it housing inventory, tight and prices are up . Im just struck that stuart you were practicing all morning. Lauren easy to live at home. Stuart you said to poor, ashley, be quiet once i get the line out. Liz i need to get the line out and i cant be interrupted when im ready to launch. Lauren i think of my grandmother. When are you going meet a nice fellow and move out, so imagine saying this to a 34yearold . Whats wrong with a 34yearold . Stuart that could be a topic for thanksgiving. Here is something that you may not have heard before. President trump is loading up the courts with conservatives, i call it a win. Back in a second [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart a growing economy, huge stock market rally. Isis beaten on the ground, rocket man confronted. These are all trump successors. Add one more. Big changes in the judiciary. The conservatives, this may be the most farreaching of all the president initiatives. Justice gorsuch on the supreme court. The first nine months, President Trump has named 58 judges to the federal bench. More than twice as many as president obama in the same period. The senate change the rules to get them in and theres maybe another hundred still to come next year. They are packing them in. Wait, theres a lot more. The Federalist Society is urging the president to create a minimum of 260 brandnew judicial positions. That is packing the courts. That would expand the number of federal judges by one third. All of them chosen by President Trump. I would be a monumental shift. The nominee the president has sent our young. That means they stay on the bench for decades to come. Think about this spirit after years of drift to the left come in the courts on the middle in the middle of a reboot with conservatives in the constitution in the driver seat. Chalk this up as a quiet but farreaching trampling. The second hour of Varney Company is about to begin. Weve got to read on how consumers feel about their own financial situation in the future. Whatever god . Better than expected reading. Slightly more up mentioned in last weeks reading. Still worried about inflation and Interest Rates up next year, but is still hanging in at a 13 year high. Main street pretty decent. Stuart Mortgage Rates wednesday ashley because of the holiday, threepoint nine to threepoint 92, down a fraction from last week did this time a year ago over 4 . Needless to say historically low rates. 30 year fixed rate under 4 . Lets have a look at the dow industrials down 13 points. No reaction to the consumer sentiment. A look at big tax be a very good game. Strong game yesterday with a lot back today. Facebook down, amazon hit an alltime high not to long ago. Microsoft down a bit. Microsoft, apple and then sighed. Fiftyseven dollars going out. Venezuelan Oil Production not 28 year low. Alltime highs for these three companies earlier this morning. Home depot, amazon, alibaba, all of them never been there before. Back to my editorial peer President Trump hacking the federal courts with conservative judges. Charles hurt, Washington Times political columnists. I say this is a win for the president even though weve not heard much about it. You are exactly right. No one is talking about it. Not only that, something democrats can never take away from donald trump, never take away from conservatives. Victories cannot be repealed. One of the things that drives the President Trump to push so hard on this when you look around at the rest of the agenda is undone by liberal judges, activist judges turning back is after to sanctuary cities or do something about people coming in from countries that have terrorist problems. You know, all of that inspires donald trump to push even harder on this. Stuart im sure you heard it, but the Federalist Society, a powerful group within the judiciary proposing to expand the number of federal judges by about one third. They want an extra 260 at a minimum of 260 new federal judges all appointed by President Trump. Estate plan. But that would be a blockbuster charge. The Federalist Society, and they the same people who helped draft this list of nominees from which donald trump picked neil gorsuch. They are true constitutionalists. They do not believe in judges legislating from the bench. So these are very good people who love america, love the constitution and equal justice under the law. We would change things for generations to come if that happened. Donna brazile joined our program yesterday. Great interview. Stuart youve seen this before. I asked her. She said this about hillary calling trump voters deplore. Roll tape. Thats not the way i would describe the American People the American People are being generous. You understand how americans get when they are labeled like this type of the president ial candidate. You notice more annoying than people being called some name. Its not what they call you comments which you answer to. Its annoying when youre called names because of the color of your skin. Secretary clinton, she was called names in 2016 that no american should have been called. Stuart charles, you heard it twice. Whats your reaction . Shes so charming its hard not to like her. Come on, the Democratic Party is built on this concept of dividing people by race and gender and religion and everything else. I get tired of listening to democrats in particular, someone has run the Democratic Party lecturing the rest of us about racial claims and racial charges. It is preposterous. The only people left in America Today dividing people by race and gender are democrats. I want you to have a good thing skipping lunch, charles. Discuss politics endlessly. We always do. Stuart i love it. Great thanksgiving to you. Now to the markets. Interesting story of two different banks here. Goldman sachs says the market goes up 11 next year. Bank of america says the bull market and next year. Joining us now, there is Senior Editor for the way in. You need me to settle this. But come ons cases that a pretty good chance youll get taxed or for an early next year and has solid growth and earnings per at 14 Earnings Growth on 11 rise in the stock market can you actually have average value come down a little bit. If we dont get tax reform, and they see not such great performance only 5 Earnings Growth and starts going nowhere. Stuart but thats not bad. Mayo is the barrenness argument. However, they describe an event during the first half of next year that looks more like a melt up. Capitulation buying. People out of the game for so long suddenly seen all right, ive had it coming all right, ive had it coming getting and like all these other winners and thats the end of the rally. Icd center is growth next year, certainly higher if you get Corporate Tax cuts. The reason the rally has to come to an end anytime soon. Stuart i find it fascinating. I really do. The idea people would jump on board and spike it up. Last minute. If utc from here a ferocious rally the stock market i would be concerned if it looks like that mel. You will sell into it. Ive got to talk to you about pixar. John lasseter. Im guessing youre not going to talk about the new movie. Stuart thats the main misconduct allegations takes a leave of absence. I asked because pixar is a cash cow. Pixar is the biggest chipmaker in the business. Disney is a great business. Think about it. The core competence is storytelling. This is a situation they will manage going forward. I dont think disney takes a hit on this. A player who does take ahead. Every pixar toy including lots of how good they are included in the toy story three movie who loves to hug will be spending thanksgiving that the thrift store because im not sure i can keep lasso in the rotation at home because ill be thinking about the hugging stories. Stuart the viewers might not know it is mr. Lasseter has removed himself from pixar because he hug people, close contact not always appreciated. He was talking 40 times can you hook 40 times a day . Apart from a kids i think im down to 100 year with other adults. Stuart have you got every pixar toy . Ive got prime pixar rich kids, so they hit us over the head coming and going at disney. Ive got both hands in my pockets right now between the movies, parks, toys, everything. Stuart quick one. Amazon, walmart, clearly making the running in the retail area clearly big winners. Who else . In this burning pile of refuge come you want me to pick a winner . Ill try. Clothing is a disaster right now. Department stores really tough. Can we count food . Ive got my eye on kroger. Walmart is doing well in groceries now with curbside pickup. Everyone thinks they will roll over and die. Kroger is a talented player in the industry and has the wherewithal they be like 11 times earnings last i checked. I think kroger might be a longterm survivor here. Got hammered at some point. Stuart you are all right. Have a great thanksgiving. U2. Stuart senator Lisa Murkowski wants the abundant care mandate repealed. House ways and means chair kevin brady joins assuredly. Does the obamacare repealed the final bill . President trump says better to have roy moore then doug jones. We need tax reform. We are on it. Later this hour, youll need all firm maverick mcneely. His father very big Silicon Valley and he gave his son a choice. You wanted your golf . Be good enough to turn pro. Now the sun is a pro for sponsors. He will join assuredly on this program. You are watching the second hour of Varney Company. Oker for . Oker for . Once, when volatility spiked. And . By the time they got me an answer, it was too late. Td ameritrades elite service team can handle your toughest questions right away with volatility, its all about your risk distribution. Good to know. Thanks, mike. We got your back kate. Does he do that all the time . Oh yeah, sometimes he pops out of the couch. Help from real traders. Only with td ameritrade. Stuart the dow industrials down 32 points. Though in its stock. It bowing out of the dow printed out to be just about breaking even. The losses accounting for about 12 to 13 points off the dow industrials. Give state and local Tax Deductions go away, people from high tax state may move because they will be paid more in taxes. Congressman kevin brady comes from texas. Did you know this is going to happen, mr. Chairman . If you get away with salt, do a result, some high income earners will move and they will probably amount to taxes. You knew this. Well, and one come all and to make sure people earned regardless of these high tax states. Secondly, we know how brutally punished if taxpayers are, whether family or businesses in the states. Think about this, let a tax reform is about growth. Hightech states, new york, california or is a big economic engines of americas economy. When you get the economic engine unleashed, whether the mainstream business or the company competing and winning around the world, thats good for new yorkers, good for californians regardless of what their income level is. People forget the reason some of the states or donor states, it now but the families are paying. If the people in those economies they pay. They benefited big way from tax reform. Let me move on to lisa d. , senator Lisa Murkowski of alaska republican. She is writing that she is okay with doing away with obamacare mandate. Im reading about the place of ashley for tax reform coming out of the senate and getting it done before the end of the year. Am i right to read another murkowskis change switch is a plus . I do think its encouraging that we are encouraged by the direction the tax bill is going. We are taking this next week. When they compete we will go and pay that immediately to work out and find that Common Ground between the two of them. By the new year, we will americans will have a new tax code and thats an exciting thing. Stuart if we have a new tax code early next year by january 1st, for example and youve got lower tax rates across the board, does that mean almost all of our viewers watching right now will get a bigger paycheck in their first paycheck in january . Well, every american on the chance to adjust their withholding so they keep more of what they earn from the first month. You get this growth going again america. This new normal is slow sub 2 growth. Dr. Katz paychecks stagnate for so long. Keeping more of what you earn and then earning more. Last time youre with us, if you get the tax could deal done, it might add one half percentage point was her growth rate next year. But take us that the threepoint fiber said. Some people are a little bit disappointed. The number of economists who have different predictions are the tax form. My point has been if it only increases the economy by about a morning, more than a trillion dollars of the tax cuts that occur minority moving back to the major way. And it sustains it sell for three to five years before settling in at a much higher level than what we have today. Under any scenario much better than the slow growth economy were in today. Stuart are you increasingly confident we would get a deal by the end of the year . It all depends on the senate. At the end of the day, i dont want to be that senator who defends the status quo and essentially keeps this economy shackled to this mess of a tax code, so im encouraged by the direction. We are eager to get to the work to the president s desk. Stuart we hope you have a great thanksgiving. Stuart more than 50 Million People travel by car, bus plan is thanksgiving. Next, your allimportant holiday forecast. David cassidy passed away last night at the age of 67. Stuart three stocks, all of them hitting alltime highs little earlier today. Home depot, amazon daily not at 11 45. 1145 per share. Alibaba new alltime high earlier today. Look at that. Bumper to bumper traffic both ways near lax early this morning in southern california. I would not want to be there. You give me a forecast to the whole country. With the going to be like . Things are looking really good. A couple tribal areas out there. All clear in the middle. Trouble spots in the northwest were the last 24 hours weve seen a lot of rain likely another four to six inches from eugene to seattle. Give yourself a little extra time if youre traveling in the region. A lot of moisture off to the east coast, the midatlantic is the future radar we will continue to watch this, but by this evening complete declared out on the backside of that, so much cooler. A lot of folks wrapping up work. This is your fine forecasts. Green and most the country as they are. The rain i point out in the Pacific Northwest where we are still tracking at least some slowdowns there as far as travel goes. Here is your forecast on thanksgiving day. Hold on the great lakes of the northeast as you look at daytime highs in the lower 40s. Most of the country 71 degrees in denver. Nearly 90 degrees in phoenix the 90 degrees in l. A. Going to be a warm one. Think skipping looking really good besides a couple troublespots i pointed out a couple moments ago. Stuart a very good thanksgiving day forecast. Well done, adam. It is all you. Ill take credit. Stuart adam klotz, thank you, sir, appreciated. Well, kim jong un snubbing china, refusing to meet with the special envoy they sent especially to him. Much more on what i call in the trump win. You heard very little about it. Stocky and the federal courts with conservatives. That could be right for you. With Unitedhealthcare Medicare solutions. 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So call or go online today to enroll, and enjoy these benefits and more, like renew by unitedhealthcare, our health and wellness experience, where you can earn rewards for making healthy choices. Your healthcare needs are unique. Thats why, with 40 years of medicare experience, well be there for you we can even help schedule your appointments. Open enrollment ends december 7th. If youre medicare eligible, call now and talk to unitedhealthcare about our plans, like aarp medicarecomplete. Lets get you on the right path. Call unitedhealthcare or go online to enroll. Sfx mnemonic stuart freddie mercury. The late freddie mercury. Check the big were down 25 points. Following on the downside. Weve got a pretty flat market this wednesday before thanksgiving. I think we got it on how much oil weve got in store. A drawdown of 1. 86 million barrels. That is more than expected and weve seen a lot of pressure. This would just add to that. 5756. Another one and a quarter today with the latest information. Stuart high variety is playing bingo. Check the big were down 26 points. Most of them down, the way down, the way of amazon getting into a brandnew alltime high. Apple also higher just shy of 174 per share. Earlier today President Trumps appointment of 58 conservative judges was yet another win even though youve not heard much about it. Come on in and a poster, America First policy is. He joins us now. We havent heard anything about this. I wouldve expected the lefties scream blue murder about 58 judges appointed already. President obama in his first nine months only appointed 20. I see this as a big win for the president. It is a huge win for the president and the estimates are by the end of his first term he could appoint her to of the federal judiciary even if he does about additional couple hundred judges as the Federalist Society is suggesting. This is huge for the American People, huge for the concept of individual liberty supported by government. Stuart the Federalist Society has submitted a plan which would expand the number of federal judges by a minimum of 260 that would increase the federal judiciary by one third. You are saying forget the plan for a moment. Even without it, President Trump by the end of his first term wouldve appointed one third of the federal judiciary. Is that accurate . Thats accurate. You would get a lot closer to 50 . Its a huge accomplishment. The power that congress and know nothing about it from them. The guardian had an article that claims that the real purpose was to take this progressive infrastructure with Teddy Roosevelt and woodrow wilson. Thats probably true. The Huffington Post had an article stating until muellers investigation is over on russia. They were in a panic. Youre just not hearing about it. The president urging voters to back worry to back corey moore. Hes urging voters to back the republican candidate. Between judge roy moore. I think the president is just playing politics here. Lets roll tape so everyone can hear what they say. I can tell you one thing is for sure. We dont need a liberal person in their, a democrat. Let me just tell you. Roy moore denies that. Thats all i can say. He wants 52 republican senators. Well look, heres the problem. Even with 52 republicans, 53 Vice President s of. We want to keep having these judicial appointments come and with 51 republicans, that would also be more difficult. I dont know judge moore but theres a special place in for people that prey on children. The president raised it, which is you really shouldnt bury peoples reputations or deny them based on allegations. Based on the confirmation process for secretary of labor and she later denied them. Nonetheless, the press hammered him out. It was detrimental to my effort. With respect to allegations, you should have more than an allegation of those appointments in reverse with the voters. Every position someone is up for you will have people coming out people coming out and making allegations. If they are not prove there is a substance, we should ignore them and move on. Judge moore, i dont know what is done, whether they are true or not, but there is evidence both ways and thats what the president was trying to say. Stuart ive got one more for you. Once again, the president is blasting me and the protests. The nfl now thinking about a new idea keeping teams in the locker room during the National Anthem next season. Almost as bad as stealing. When will the commissioner get tough and smart. This issue is killing your league. Your response. A lot of fans wouldnt care if they stayed in the locker room. What kind of ceo, what kind of Business Leader allows the employees to alienate their customers. No other business would this happen. You cant let employees start with a customer base. About how people were getting before the protest started. Now they change their position, but you notice when the left is making complaints about the nfl, the viewership wasnt found, stadiums were still full. Now youve alienated your customer base, you are seeing stadiums with seats, revenue go away, advertisers complain. This is a big problem in this incompetent leadership in the nfl. The president is right. Someone needs to take control and get the spore back on track. Trade too well fed. Are right, young man. I hope you have a great thanksgiving. U2, stuart. I hope you have fun at your farm. Trained to listen to this. Kim jong un snubbed the envoy china sent over to pyongyang to get a hold of kim jong un. He rejected it. China agreed to send the envoy after President Trump met with president xi jinping. Analyst bob sexton. I see this as a positive. I see this as kim jong un increasingly isolated. The offending china. Whereby gone wrong . Whose perspective in the situation. The continued intransigence of north korea is a major problem. The best of the administration has is a freeze on missile testing for north korea. The pathway. We have another missile test in december 15. How do you know that china didnt send over a guy who is going to tell kim jong un we talked to President Trump. You fire off one more missile in the u. Sierra in trouble. I know its all speculation. What you see is north korea is willing to snubbed diplomatically china for a couple reasons. One to show kim jong uns countrymen he is not going to be intimidated or take a meeting that is less than what he is, which is premiere of the country. You think North Koreans will learn about tims not been . Whatever the regime wants him to learn. Its clear that he is clear that hes not taking the media on purpose and is not doing that to hide it from people. Is this north korea continuing to be not just stubborn, but maniacally dedicated toward Getting Better longer range missiles in a more threatening capacity and sending an envoy about a week ago. Im like us to north korea. We dont know what they discussed, the North Koreans are trying to send a message to the north korean leadership. And the chinese leadership but theres only so much the North Koreans in response to chinese pressure. The chinese dont want north korea to implode as a state. The Korean Peninsula under south korea. Their interest is the chinese interest and oranges and north korea are not directly align they are an opposite sides of the equation. We are using china for leverage, but the chinese dont want to push too hard. Stuart my head is spinning. At the problem. Should we shoot it down . Us, we, america. Role as commanderinchief. If i had the capability, stuart is not what all of this is about . Surely the result is you fire off a missile, we shoot it down. Not enough to bring the kim regime and we are trying to leverage china. That alone wont be enough. Nuclear weapons are a central goal. They can fire at us here in the u. S. Of the dynasty they only exist for two reasons. One is to deal with outside invasion invaders. They come and destroy him and reunify the Korean Peninsula. Will dean is elected peninsula and will not happen anytime soon. Quite honestly a different country. Its not happy talk. Not good stuff with north korea. I dont think this president of these here United States will let you shoot off missile after missile. Writing is on the wall. We hope you have a good thanksgiving. Trade to the man responsible for your favorite pixar movies out. It seems the Sexual Harassment allegations have only just begun. Stephen baldwin is with us on that sub date. First, 22yearold golfer knotwork mcneely is daddys big in Silicon Valley and he chose to forge his own past. Now he has some big name sponsors behind him. That young man is on the program. Ps next, by the way. Stuart the forecast is for Holiday Shopping season since 2007, maybe ever. Retail guru says that all about Consumer Confidence. Roll tape. I agree with deloitte and Price Waterhouse cooper could break the alltime record 1. 05 billion. 1. 05 trillion nnovember, december, january, biggest debtor. From the immediate period ahead, biggest ever the United States of america. Because we are hitting on the four cornerstones of higher prices, better housing, better manufacturing, more spending, more Consumer Confidence can we tell this better, take on more credit and are willing to charge and have confidence. Im all about my bed. This mattress is dangerously comfortable. When i get in, i literally say ahh. America loves the leesa mattress. We have more five star customer reviews than any other mattress of its kind. This bed hugs my body. Im now a morning person. Hello bed of my dreams. Discover how leesas innovative design provides an extraordinary sleep experience. Then place your order. Well ship your leesa mattress right to your door. So you can enjoy a riskfree trial at home. I love my leesa. Today is gonna be great. Sleep on it for up to 100 nights and love it, or youll get a full refund. Returns are free and easy. Order now and get 125 off. Plus, a free pillow worth 75. And Free Shipping too. Go to buyleesa. Com today. You need this bed. Stuart maverick make daily, by the way, has died in Silicon Valley and his dad gave him a choice. Youve got a choice. You can go into business or you can be a golfer. If youre going to be a golfer, you will turn pro. He is a prototype is now in his now and his name is maverick make daily. Welcome to the show. How you doing . Do you have a pga tour card . A i do not. I have a web. Com tour card which is one level below the pga tour, but i have five more spots there is in 2018 and i play really well and theres a chance i could jump. Traded thats what you really want to do. Thats where the money is coming and i right . It is. One of the main reasons is because i want to be the best i can possibly be and i feel like i havent reached that level yet through college and amateur golf. The dream is one day to the world number one. Stuart maverick, i know your dad really well and hes a competitive guy and im sure thats exactly what he said to you. By the way, can you shoot consistently under par, consistently . Thats the plan. Stuart i know thats the plan, but can you do it . Depends on the golf course. Would you consider around 69 bad, weak, under average . Depends how many under a list through 16. Stuart i dont get that. Explain that. About a six under through 16 id be very frustrated if i was par through 16 id be ecstatic. Stuart i got it. Youve got several sponsors already. Callaway golf, under armour having kpmg. All of those. Which are not yet on the pga tour itself. Pretty good going if youve got sponsors like that. How did you get the sponsors . Im pretty fortunate through the collegiate and amateur career to have the opportunity to take a couple fantastic sponsors. I did my Research Company did my homework and was fortunate to have a lot of choices. In picking sponsors my authenticity was important. I wanted my three primary partners to be very much aligned with what i was interested in. Under armour, i love being the underdog and their american based business in the way they go about things. Callaway golf when i visited and toured the facility is on the way back by randy and processes than i was thinking in a couple years that one employee couple years that one employee and their golf clubs because they will be the best by far. Kpmg is an interesting one for me to wear on the front of my heart. Stuart no wonder they are sponsoring you. You just delivered what most of the people in a major stanford did went into consulting. Stuart okay. No wonder you cant be sponsored. You just delivered three traffic commercials. Pretty good, young man. One last one for you. A growing question and told in the sport of golf about whether golf balls should fly a shorter distance. Tiger woods says they should fly a shorter distance. Would you say . Well, that would certainly make a lot of sense from a realistic. Its difficult to build new golf courses that are that long. I also think would make a lot of the old golf courses that are some of the more famous designs a lot more applicable today. An interesting example in college who played cypress. 1 of the top five in the world and it was really a lot of the hazards in troubles and bunkers werent really in play for us college kids because we are now flying the ball 300 yards in the air, which is about 50 yards longer. Stuart ive got to jump in. Ive got to run several commercials that we get paid for here. Maverick, the best of luck to you. Youre a fine young man and i like your dad, too. Have a great thanksgiving, okay . Thank you very much. Stuart the great tax exodus of state and local Tax Deductions go away, people from high tax states with high incomes will move. Next come a congressman from high tax new jersey. We will be right back is this a phone . Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Ashley amazon take immense pride Member Benefits right to whole foods just in time for thanksgiving. At whole foods in california. Hillary. This is as the amazon takes big changes to whole food this time their annual time membership to cut costs. The billiondollar buyout of whole foods to bring offering benefits to membership programs. Making it their official rewards program. This is just the deal they are going to offer her. They are offering more discounts for prime numbers specifically. This thanksgiving they dropped the price of turkey 1 per pound. Prime numbers given additional 50 cents on top of that. The integration between online and instore is just the first step for amazon. Not only becoming the physical retail arm of amazon but the Distribution Center for customers. Sunil seabright yl lockers popping up at different locations. You can pick up your amazon orders and return your amazon orders there. Heres also a big change. In the bakery aisle you can shop for some muffins and bagels, but at the same time you can now pick up hightech devices that amazon offers. This is a part of their plan can make whole foods a whole lot more than food for them. Ashley amazon juggernaut. Thank you very much. Our three of varney coming up next. And why a Pro Football Team chose us to deliver fiberenabled broadband to more than 65,000 fans. And why a leading car brand counts on us to keep their Dealer Network streamlined and nimble. Businesses count on communication, and communication counts on centurylink. Of this world, who think we are deplorable s. I will invite any leftist to join us. And we are truly diverse. Come over and listen to the conversation. You might learn about free speech. We will be holding our celebration at our farm in the woods. We finished our meal we will pilon to the atvs, we dont care if it snows. The third hour of varney and company is about to begin. I am reliably informed that is the thanksgiving theme song from Charlie Brown by vince gorrell the. At this time tomorrow the macys thanks giving day parade will be going down sixth avenue. Check the big board, coming back a little, we are only down 17 points. We were down 25, a quiet day. Will we had 24,000 on the dow industrial average by christmas . I will ask that question to moodys economist and Scott Shellady with tj am investment, still hanging out in london for some obscure reason. Are there currently trades going your way . More like witness protection program. We dont have any more volatility, investors are comfortable, less cautious, as long as things stay the way they are and i think they are well, insights lose volatility will lead the way as long as it is low, it will continue as it trades and we have a good chanting 24,000 barring any volatile or calamitous event. Stuart what do you say . Less then 2 , volatility will stay low, looking for a decent Holiday Shopping season. At the same time, no sign of upturned inflation that might increase inflation risk stuart next one, two big banks who see the market next year differently. We have Goldman Sachs, they say next year we have an 11 gain for stocks overall and bank of america which says the bull market will run out of steam next year and come to an end. Goldman sachs, the market goes up, bank of america, the market plateaus. Earnings, Interest Rates wont rise sharply, no reason we cant add another 5 to 10 to the broad equity market indices. Stuart that would take us to 25, 26 . When we look at Corporate Credit quality will we see default rate declining by a percentage of one year from now. Historically, 90 over the yeartoyear decline, with higher equity prices. Stuart i hear scott laughing over there, why i reject the idea of the dow 27,000. I thought of something, Goldman Sachs, make it come full circle could be a shakespearean tragedy about head versus the hardware Charles Dickens tale of 2 cities but right now, i side with my head over my heart and everything continues as is, we have nuclear war on the doorstep, brexit, the senate and house of representatives to deal with, the house of saudi arabia, a ton of things to worry about, in a new year, the bank of america, over Goldman Sachs. Over here, picking up this discussion going through the senate. In favor of the individual mandate in obamacare. Without getting into the weeds. Without getting into the weeds didnt act together, preserving themselves and serving themselves, getting themselves reelected by doing the right thing and getting taxes passed. Stuart you say . They have no choice but to go ahead until the end of the year and get 24,000 if not higher. Stuart it is easy. 45 next year. Amazon and walmart leaving the retail industry. Which other retailers we will be talking about a year from now. It may not necessarily be a good. A number of retailers, we who know there will be around one year for another, a fastchanging industry. Stuart it will look very bleak. Stuart i know you are in london but one last question. Is this amazons year . Thanksgiving and holiday period where amazon just burst out, rules the roost . In sports, no one can stop him, the next year the people we are talking about, and retailers, the far right could be multiples higher than it was, and it will be more painful rate now than status quo. The story will be we will talk about other negative things and will be flying high. Stuart we have to pay for satellite time when we bring you in from london so i will cut it short. I will wish you a good thanksgiving and remind you in britain they eat turkey on christmas and never heard of thanksgiving. Enjoy thursday anyway. There is only one thing i am missing more than anything and that is to be on my family farm. Stuart i can see that. Come back soon. A question for john. People age 26 to 34, that demographic, 20 of adults live at home. Is that economically driven or a new cultural phenomena and . I dont think you can separate culture from economics in this case, not as ambitious and driven as previous. They are taking forever. You think it is the university problem . Maybe in part, the university, individuals, and broadly. Our generation is boiled it took two severe recessions to wake up, the recession of the 1970s and early 80s when we straightened out and worked hard. Stuart we have millennials as viewers. You are all right. Millions of dish Network Subscribers not able to watch cbs, they are in dispute about money. In major cities including new york, la, chicago, 3 million customers, there is a Football Game on cbs tomorrow. The House Ethics Committee and allegations a john conyers. One member of the committee is with us, with the obama senate candidate, the senate doesnt need another liberal like democrat doug jones. We are on the story. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart huber conceal the cyberattack that exposed 57 Million Peoples data, then paid 100,000 ransom. Ashley ransom to two hackers responsible for this on condition of two things, they dont tell anyone and delete the information they hacked. What is disturbing is the fact that it happened in october of 2016. The ceo knew about it the month after but the idea was to conceal it. Dont tell anyone but it has come out. The federal trade commission is on it, new york investigating, you get more information on this, email addresses, phone numbers, drivers licenses, 600,000 huber driver, a lot of information. Synonymous with scandal, the ipo. Stuart terrible pr. Now this. Donald trump, he is packing the federal courts with younger conservative nominees. This goes ahead and it is it will affect the judiciary for a generation. Herb london is with the London Center for policy research. 58 judgeships appointed, nominated, they are in by donald trump in the first we 9 months, triple the number in president obamas first we 9 months. Im saying that affects the judiciary and america for generation to come. The next 40 years, we will be originalists and it is so satisfactory because the judiciary should not be involved in making legislation. We have lost our way in this matter and this is a matter of recovering the traditional view of what a judiciary should be doing. Trump has moved in the right direction under the right set of circumstances for the right people. Stuart you heard the Federalist Society, they have a plan to create 260 as a minimum, 260 new federal judgeships and have them all nominated and in place before the next election. That is a revolution and a half. No question but a revolution that might be recalled as a recovery. A way of looking at what the United States is all about, our constitution is a formidable document used to make decisions, not so much a question of a living document, living according to the original notion of Founding Fathers would stuart you a scalia kind of guy . Flat out no question. Stuart what shocks me, never heard about it from the left. I read a couple articles in the last week, that is all i read. I can only tell you the left is distinctly disturbed about this. Stuart i want to talk about roy more. Donald trump implicitly, the republican to win. 52 republicans in the senate case close. That is what he wants. Some of the comments made by mister moore when he was on the hannity program leaves me very uncomfortable. There was ambiguity, there was a question of contradiction. I wasnt sure the point he was trying to make. He didnt flat out say this never happened. As a consequence it makes you feel uneasy, uncomfortable about his nomination. Stuart a brick president once a republican. He is playing politics and it is understandable. Stuart straightforward politics, exactly what it is. Better check this one. President obamas Vacation Home on Marthas Vineyard is for sale, 7000 ft. , on the market for 17. 7 million, 6 bedrooms, 5 bathrooms, on 10 acres of land, the obamas rented it several times during his administration. If you are like me you plan on getting away for the holidays, millions of people will be on the road, jeff flock is one of them, get a look at what it is like, that is los angeles early today, talk about traffic, we will be back. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Stuart i will say tens of millions of people will be traveling this thanksgiving weekend and jeff flock, on the left side is lax, jeff flock is on the road in chicago right now. What do you see . Jeff we are moving in chicago. 45 million is the number on the roads this thanksgiving holiday, that is up 3 from last year and the most since the year 2005. The reason for that is a strong economy, robust labor market, rising incomes and higher Consumer Confidence contributing to the travel boom that is here. The taxcut thing, i put that on the back burner. Stuart you are fortunately in chicago, illinois as opposed to los angeles, california where just before you appeared with us we showed the traffic around lax early this morning. It was bumpertobumper mile after mile. You have the open road. Looks like christmas. Massive traffic in la, california but the open road, you are one lucky guy. 23 , 73 in la. Stuart you always have a good response. Jeff flock, you will be driving all day long with that camera. Jeff apparently i will. Stuart who is in the backseat . Jeff daily back there. There is only back there, bob is up here. He wont put the camera on himself. This is my explorer. Stuart get your hands back on the wheel. Jeff flock, you are all right. Everybody there has a great thanksgiving, thank you. X1, the nfl, they may key players in the locker room during the anthem next season and donald trump is fired up about it. He has been tweeting for you. Some families plan to cut their thanksgiving short to avoid political discussion, not my family. We are talking about all kinds of things and we will be back. [lance] monica, it is absolute chaos out here gale force winds, accumulations up to 8 inches. Dont know if you can hear me, but [monica] whats he doing . [lance] can we get a shot of this cold front, right here. Winter has arrived. Whooo hahaha [vo] progress is an unstoppable force. Brace yourself for the season of audi sales event. Audi will cover your first months lease payment on select models during the season of audi sales event. I enjoy the fresher things in life. O. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest. Prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices. From over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. Stuart 15 or 20 minutes ago, medical condition, suffering his wife says he is in great pain and in great pain taking every single breath. I dont know if there is any connection between that updates on his health and the stock market. Market took a leg down, and 53 points at 23,536. I am implying this differently connection but timewise, i want to get to the great tax exodus. State and local Tax Deductions go, people with high incomes who live in high tax states may be moved because they will be paying more in tax, several states on your screen where it is happening, one of them is new jersey. One of them is a republican from new jersey. Welcome to the program, good to see you. You wont contest the view that if salt goes away, state and local Tax Deductions go away, the high tax state like new jersey, people are going to move. Some people will move and that is why i voted against the legislation, it was in the code since the code began, a matter of federalism and shouldnt be paying taxes. Stuart i understand how you are protecting your constituents, many of your constituents from what would be a significant tax increase. Now the stress is on new jerseys new governor who wants to impose a higher tax on wealthy people. You got to oppose that. I do oppose that. Governor elect murphy increasing the marginal rate from 8. 7 to 10. 75 , almost a 2 increase, dramatic increase. Stuart Price Waterhouse, the accounting people, northern new jersey alone if this goes through will lose 10,275 people, they are all high income earners. What about the rest of new jersey . People in new jersey moved to florida or they can move next door to pennsylvania, i live in huntington county, new jersey, and pennsylvania is across the river. I can see that might occur. I dont want tax reform where there are loser states and winner states i want every state to be a winner state. This issue of salt was discussed in 1985 and 1986 and was taken off the table because it is unfair to states like new york and new jersey. Stuart there is still negotiation going on between the senate and the house. Is there any way the salt deduction could be restored or partially restored . The house bill has 10,000 of property taxes but not state income taxes. The senate bill has nothing at all. This can be discussed in a constance committee but i want full retention of salt. Stuart you are on the House Ethics Committee and you are the committee that will investigate john conyers harassment allegations. What can you tell us about this . I never discuss what may or may not come before the committee is whatever comes before the committee we will do in a bipartisan way. I never get involved in what may or may not be before the committee i want your public to know we operate in a bipartisan capacity and have a completely nonpartisan staff and we take our responsibility seriously. Stuart what do you think about taxpayers footing the bill for some of the settlements . That is not part of your investigation. That roused the ire of our viewers. I do not favor that and congress should investigate that situation regarding moving forward to make sure taxpayers are not footing the bill. Stuart i want to replay a clip from my interview with Donna Brazile who was on the program yesterday where she explains why in her view hillary lost the election. Roll tape. There were a combination of factors. One is the hacking of the Democratic National committee which corrupted our data, web and i emails and destroyed our ability to get our message out. I also think donald trump cracked the socalled firewall that would enable Hillary Clinton to win the Electoral College as well as the popular vote. Stuart lawrence jones, that man right there who is listening to what Donna Brazile had to say. You are laughing. You dont accept her explanation for hillarys loss. I mean, she talks about the firewall but fails to acknowledge Hillary Clinton wasnt able to connect with middle america. She made the campaign more about her than the American People who try to have a slogan it is time with her instead of im with you and with you are talking about barack obama doing his campaign where he promised change in the election and donald trump says put America First, they made their campaigns about the American People and donna didnt acknowledge this. Stuart i will say again i have a multiracial multiethnic multireligion family. Three races, two religions, nationals what lost it for me with hillary is when she called people like me racist, sexist, islamohphobic, desirable, that is where things fell apart because that was her worldview, her view of america and i presented it. How about you . That was interesting because a lot of americans share that same view and you can disagree with donald trump on policy but to suggest all of those supporters who voted for president obama in those states also voted for donald trump were racist because they decided not to vote for you is being intellectually dishonest and ticked a lot of the American Public off. Essentially saying she was the only alternative. I think Hillary Clinton as well as the Democratic Party have this certain tone deafness with the issue of the american voters, they never talked about issues facing them on a daily basis, jobs, immigration, education reform. They made it more about emotion and racism and social justice issues im not saying you cant discuss social justice but when people are broke, they are not concerned about that, they are concerned about living paycheck to paycheck and Health Care Bill that crippled the economy. Stuart before you go i want your views on the nfl considering changing the and policy next season, you dont come out on the field for it, donald trump doesnt like it, he says the nfl is thinking about a new idea keeping teams in the locker room, almost as bad as kneeling which when will a highly paid commission to get tough and smart, this issue is killing your league. What do you say . The best compromise because i dont think they are going to convince the players, some teams like the Dallas Cowboys have made it a part of their individual team policy but to get the entire league is a little too late. This goes back to the Old School Days where they stay in the locker room. The fans have a right to respond which i think they will respond but this is the best compromise you are going to get with this debate. Stuart i issued thoughts about thanksgiving, my thanksgiving dinner tomorrow will have a dozen viewers, not viewers, sorry, we will vigorously discuss politics. How about you . My mama wont allow us, she wants to enjoy her baby. When i come to the dinner table i can talk about my job and stuff but she is not going to allow them to get in political debate with me. I kind of enjoy it. Stuart we have a viewer, tina, who says my daughter has disowned me and calls me a racist because i voted for trump. Trump supporters are not allowed in her house. That is okay with me. Im just sad because i thought i raised her to think for herself and not be brainwashed into believing anyone but to investigate and search for the truth. Sincerely grandma and grandpa banned from thanksgiving supporting the president of the United States, donald trump. Last word quickly. That is disgusting. These politicians every four to eight years, they will be gone, more people come in. Do not allow politicians to be thicker than your blood. Stuart you are right, getting good at this. Congressman leonard lance, republican new jersey, you discuss Politics Around your thanksgiving table . I believe we will but we will have a diversity of opinion and welcome all opinions at our dinner table, in the tradition of thanksgiving, the Great American holiday, we should all celebrate thanksgiving and anybody in my family is welcome at my thanksgiving. Stuart leonard lance, thanks for joining us as we appreciate you being with us too. A both of you have a great thanksgiving which a tiny Swiss Village so desperate to grow it wants to pay people to move their. A population of 240, village leaders are debating a proposal that would offer 25,000 for singles and 75,000 to a family of four. You have to be willing to stay for ten years. Ashley not a bad deal. Stuart not sure about the weather. One of the top Creative Minds behind pixar, John Lassiter taking a leave of our citizens leave of absence, we will ask Steve Baldwin if this is the tip of the iceberg. Retailers offering delayed shipping to help you avoid big charges this holiday season, details how much money these options will help you save in 90 seconds. Nicole im nicole pedallides, retailers and shoppers face a brandnew challenge, a surcharge for shipping packages around the holidays. Ups is looking at a surcharge when you are shopping. Keep in mind the last two weeks are now better, and the whole week going into christmas theres a surcharge. And securing, what are they supposed to do . Ups saying shipping more and more packages, they ship, into christmas, 30 million packages daily, 17 of 21 delivery days between thanksgiving in the United States. Liberty mutual stood with me when i was too busy with the kids to get a repair estimate. Liberty did what . Yeah, with Liberty Mutual all i needed to do to get an estimate was snap a photo of the damage and voila voila i wish my Insurance Company had that. Wait hold it. Hold it boys. Theres supposed to be three of you. Wheres your brother . Wheres your brother . Hey, wheres charlie . Charlie . you can leave worry behind when liberty stands with you. Liberty stands with you™ Liberty Mutual insurance. Stuart sexualharassment in hollywood, seems like every day there is a new name. The latest is pixars John Lassiter who is taking a 6 month sabbatical over missteps. Actor producer director Stephen Baldwin is with us. Is this the tip of the iceberg . We set a lot of names but tip of the iceberg . I want to say about all this, yes, tip of the iceberg because the culture and industry of hollywood this has been pervasive. In politics as we are clearly seeing. I want to say i believe strongly, i dont know the details but you see the scenario something has transpired, i am sure the details will come soon. We have to be really careful because just like there are bad guys doing bad stuff who deserve judgment, there will be people making stuff up and causing trouble and getting even with people and it is difficult. Stuart there are degrees of what has been done. It goes from rape to Sexual Assault and it goes to inappropriate touching and it goes to in the case of mister lasseter it was aggressive hugging, 30 or 40 times a day. That is a range, isnt it . You treat them all the same . I was raised a certain way. I have two daughters. Back in the day, sex, drugs, rock n roll, at some point in business, i say to a lot of friends thank goodness we never did something stupid like these guys, just for me it is common sense and good moral foundation. Stuart what is happening if i may express an opinion we are changing how men and women relate in the workplace. That was then. It was not assault but that is changing. Women executives you would be surprised in Different Industries what has transpired. I had that. Stuart the women came onto you, touched you inappropriately . I didnt say that, calm down. I just mean i received invitations 25 years ago, usual suspects, my producer, lets get you up the rungs of the ladder. Stuart a woman in a position of power, you were down the power structure. I never, an invitation to have my career be helped etc. If i played the game. Stuart in this day and age fast forward 25 years, that would be sexualharassment by a woman in power of you, the underling. Anyone in a position of power that causes someone to feel bad, wrong, but they are the force that implemented it is wrong, good common sense. Stuart absolutely right because that covers it all. Dont make people feel uncomfortable and wrong and shamed. Worse than that dont do it and then out you see these women scared to death, some of these people, i have been there if you are walking down an alley and someone comes up to you dressed in a way that looks like they might mug you you get scared. Someone puts you in a certain position it is the same fear. Stuart just wrong. Update, Kathy Griffin says she has been blacklisted. She had the sake picture of trumps head. I did an old reality show called the mall. Remember celebrity mole, Kathy Griffin, i spent a lot of time with her and we had conflict on the program. I wont get into it but kathy is kathy and she went too far and i feel awful. I wouldnt say i think she is one of the premier talents in our industry but she deserves the right to put bread on the table but you got to be careful nowadays. I think i said on this show, hollywood needs to be careful about what it doesnt look what is happening. Stuart i want to end on a different note. You have a birthday in the family. Yes, second fabulous daughter, 21 today, happy birthday, continued success and god bless you. Stuart she went to the same school as my daughter. Much obliged to you. This november, this is the month, Diabetes Awareness month, a special reminder, to celebrate thanksgiving and upcoming holidays, supports it. And the holiday treat. 20,000 free thanksgiving meals, a Salvation Army gym in orlando and the florida businessman help to make it all happen. We will meet him after this. Dance dance dance dance dance dance all the things i should do dance dance dance oke. That cant be true, can it . Actually, it is true. And with Heart Disease, your risk is even higher. In fact, cardiovascular disease is the 1 cause of death for adults with type 2 diabetes and Heart Disease. But there is good news. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Thats good to know. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. Isnt it time to talk to your doctor about jardiance . Absolutely. Ask your doctor about jardiance. And get to the heart of what matters. Stuart a thanksgiving story, businessman in orlando grew up poor and for the 25th euro is giving away 20,000 free thanksgiving meals. That is the man on the screen, eric cole, the owner of 32 Golden Corral restaurants in florida. Welcome to the show, good to have you with us. Thank you, glad to be here and glad to be getting out of work. Anyone who needs a free meal in orlando, florida come in tomorrow at 10 00 am to 5 00 pm, the Salvation Army downtown orlando. Stuart i have got a feeling that you ate in Salvation Army hostels and places for thanksgiving when you were a young man, correct . That is correct. My mother was a single mother, five young children, tried to make ends meat, sometimes when they didnt the Salvation Army was there for is and provided christmas and giving meals for us. Stuart Salvation Army is a very Christian Organization which i take it you chose to stay with the Salvation Army because it is christian . Yes i did. I served on the National Advisory board for the Salvation Army, men and women of the Salvation Army served with grace every day and in america. Stuart i can see them setting up behind you. Tell us exactly what are you serving to 20,000 people tomorrow . We have 4000 pounds of turkey, 3000 pounds of ham, mashed potatoes, candy, green beans, cranberry sauce, gravy, freshbaked dinner rolls, freshbaked desserts and wonderful chocolate fountain from Golden Corral for all the children and the cotton candy machine. Stuart did you buy the supply or did they donate . About 50 50. Some suppliers checked in, pepsi has been a partner for 25 years, some are vendors at Golden Corral, chipped and also. My wife and i picked it up. You are looking for 20,000 people. 10,000 in the gymnasium, tomorrow it will be turned into a beautiful dining room with tables and chairs on the tables, we have a very large to go presence, anywhere from 10 to 15,000 to go meals and they come here and dine in the dining hall and take more meals home. Whatever you need is here and we are glad to provide it. Stuart you are a good man doing a good thing and wish you and yours very well this thanksgiving. Thanks for being with us. Thank you so much. Stuart good man, what a great story. There will be more varney after this. Lets begin. Yes or no . Do you want the same tools and seamless experience across web and tablet . Do you want 4. 95 commissions for stocks, 0. 50 options contracts . 1. 50 futures contracts . What about a dedicated service team of trading specialists . Did you say yes . Good, then its time for power e trade. The platform, price and service that gives you the edge you need. Looks like we have a couple seconds left. Lets do some card twirling twirling cards e trade. The original place to invest online. Stuart hes been very quiet for the last three hours. We have been talking about thanksgiving dinner and politics and what will discuss but i have not yet asked Ashley Webster to discuss politics . Probably, i suspect the friends are pretty much on the same page. Stuart what does that mean . They are fairly conservative. I dont think trump might come up, you never know, im fine if it does. Im thankful not to go to an airport. Stuart last thing i want to do now is head to an airport, forget it. I dont have to do that im driving elsewhere. Neil, its yours. Neil i thought you travel private jet. [laughter] neil thank you very much, have a good one, guys. Meanwhile it is the dash to get out so we have a live shot, fort lauderdale, we also have new york, more thanksgiving travelers, now we have seen since 2005 51 people will be traveling and all my luck on the road in the same moment. Travelers are anticipating some brisk weather. Some parts of the country could get snow. Warmer when you head more out to the mid