Transcripts For FBC Varney Company 20171204

Up, big tech. Theyre made the running theyve made the running all year, they are still leading the charge even higher. Abc news in deep trouble. Friday they put out a false report that sent the dow plunging 350 points. The reporter, brian ross, has been suspended, but many investors lost money. The president thinks abc should be sued. The Mueller Investigation, thats in trouble. Now we find a trumphating fbi agent on the mueller teamc plad a key role in hillarys email probe. Peter strock played a key role in the russia investigation. Can you say politicized . Can you spell bogus . It is monday morning, and trump is winning. Varney and company is about to begin. The stock market, i think, is going to have a very big day based on the massive tax cuts that were very much in the process of getting approved. But based on the vote we had last week, the stock market has been reacting unbelievably well. The only to thing that hurts it is the fake news. [laughter] stuart bomb righthand corner of your bottom righthand corner of your screen, President Trump talking up the markets before he got Onboard Air Force one enroute to utah today. Were going to be up at the opening bell, 220 points plus. New records across the board at the opening bell. Im going to show you this again, big tech names promise to open higher, all of them across the board, significant gains. Theyre already at or near records, theyre up again this morning. Its the samec story with the g bank stocks. They got favorable news on regulation last week, way up last week, way up again. Joining us now Fox News Contributor scott martin with kings view Asset Management. All right, key question. 25,000 by the end of the year or by christmas . Which is it . Oh, gosh, stuart, im guessing by christmas. You asked me this question last thursday, and i think you thought i was crazy, but my goodness, as weve seen the tax cut getting pretty much final approval, this is going to drive stock prices higher. And i think into the end of the year were going to see dow 25k. Stuart okay. Lets be clear here. This is all about the passage of the tax cut deal through the senate very early on saturday morning. Thats whats propelling this market this morning, correct . Absolutely. I mean, youre going to have corporates, stuart, that are going to have more of their own money to do with it what they want, stock buybacks, dividends and probably hiring as well. So when money is going to be in the coffers of the corporations here in the United States instead of the hands of the government, thats why youre going to see the s p 500 go up. Stuart okay. This is a big deal, weve got to tell everyone about it,c cvs agreeing to buy aetna, 69 billion deal. I take it this is mainly a response to amazon. Is that correct . Just like everything is these days, isnt it . Yes. Ill tell you what this does in a couple ways, it actually makes one wonder if this hastens the deal between, say, walmart and humana. It allows folks to get more access to health care, preventative care, education with respect to their own health care and maybe even more transparency when it comes to cost and certainly quickness if you go into one of these, say, minute clinics at cvs versus the long waits at your doctors office. Its got to get approval. Weve had problems with Health Care Consolidation in the past. Well see be this one gets through. Stuart did you just say Walmart Humana . Ive not heard about this. Are you speculating . I am, stuart. They already do some Work Together on the Prescription Drug side, but i believe thats going to put pressure on walmart to compete. Theyve got a lot of stores out there, they want to see a lot of people walk in there for Health Care Costs, theyre already doing shopping there stuart do you own walmart or humana . We dont, but were looking at taking a positionc in walmat sometime soon if they do a humana deal. Stuart youll come back later when we open. Now, the market really swooned on friday morning after abc reported about michael flynn. It was later retracted, but the market went straight down. President trump tweeted this people who lost money when the stock market went down 350 points based on the false and dishonest reporting of brian ross at abc should consider hiring a lawyer and suing abc for the bad the damages bad reporting cost. Im smiling because this is america, you can see anybody [laughter] the question is would it be frivolous. As you know, many, many factors affect the stock market. The oh interesting problem is what did brian ross know when he made the statement. Did he believe it was true . Did his sources mislead him . Did he inadequately check the sources or adequately check them . For him to be insulated from liability, the report doesnt have to be true. Rather, it cant be knowingly false, and it cant be prepared with reckless disregard to whether its true or false. Stuart c but you can sue his managers who did not take the right steps to make sure that it was true. Presumably they didnt, because theyve admitted they [inaudible conversations] they said they didnt. [inaudible conversations] or it would be very difficult to tie the decision of the managers to a stock market loss. The loss has to be foreseeable at the time the inappropriate behavior took place. Stuart ah, you lawyers [laughter] tweaking around, come on. Stuart, this principle of law will defend us one day. [laughter] stuart whats in the background here . Whats whats going on with all this, this heres what troubles me deeply. When the fbi interrogated general flynn, they already had a transcript of his five conversations with ambassador kislyak. So what was the purpose of the interrogation . Probably to do what they did, trap him into lying. What would be the purpose of that . To interfere with Donald Trumps presidency. What would the fbi gain birdies lodging general by dislodging general flynn from the white house in the first month of his tenure there . Why would they be wasting time asking somebody about a ck ersation when they had a transcript stuart so it is a politicized investigation, political targets. There are elements of politics to it. Im not so sure this guy, stroke, is as bad as people are saying. Were talking about one antitrump or prohillary text. If they become advocates for a political cause, they have to get off the case. Bob mueller recognized that, jim comey did not. Stuart all right, judge, well see you later, im sure. You got it. Stuart the sausage making, it comets. Tax reform now moves through Conference Committee. Joining us in new york congressman, the right honorable rod blum, republican from [laughter] the always right. Stuart the always right, yes. [laughter] congressman, welcome to the show. [inaudible conversations] right honorable mr. Varney. Stuart here we go. What changes do you want to see . I dont think its going to be a rewrite of the whole deal. Its going to be tweaking. What would you like to see tweaked . I agree, great question. Its going to be tweaking. And i agree with art laffer, one of the architects of the reagan tax cuts. The biggest mistake they made in 81 with reagan was they delayed and 83. This caused businesses to not make purchasing decisions. It impacted peoples Decision Making because, for tax purposes, it was delayed. And this caused the recession of 82 and 83. So let us not delay the Corporate Tax cuts until 2019 which is in the senate bill. Stuart you think you can do it . Absolutely. We do not need a recession next year. We need the economy to take off. January 1st, 2018, Corporate Tax. All these cuts should take effect. Withholding going down in personal paycheckings. Stuart how do you do that . You have to talk to your employer, dont you, so you do get a bigger paycheck january 1st. You sign up for the number of exemptions you have, but the they automatically change. The Payroll Department will do that. We need these to take effect 2018. Why wait . Stuart can you do it . The proven prosperity model is back. Every time its tried, it works, so why wait . Start it january 1st. Stuart have you guys got the clout to make those changes . Well, it is the senate. We have a saying in the house, stuart, the senate is where good ideas go to die. [laughter] so i cant guarantee anything. But i think they will listen to reason,c theyll look at histo, and theyll see what happened with reagan. We do not need a recession, especially with the stock market anticipating gains as it is. Stuart what do you think of the timetable here . It really has speeded up dramatically. Its got enormous momentum going for it right now. Were going to get this thing signed, sealed and delivered before christmas . Absolutely. Christmas eve President Trump will be signing this on his desk. I tend to be an optimistic kind of guy, im a Small Business person, but i absolutely believe that. In washington, d. C. Tonight we vote in the house to go to conference to iron out the differences between the senate and house bill. Stuart thats right. The house is in session a day early, so you leave this studio in new york, you fly down to washington drive down. Im a conservative republican. [laughter] on a john deere tractor . Stuart yeah. John deere tractors are made in this gentlemans i do have a john deere tractor, but im not driving that back. [laughter] stuart congressman, its a pleasure having you in new york. Good luck on the drive. Thank you. Stuart big guest coming up later on the program this morning, Kellyanne Conway, counselor to the president. What does she think about her boss being targeted by abc news . Well ask her directlyc around 11 30 this morning. Our military holds drills in south korea showing off more than 200 of our biggest, baddest military planes including two dozen Stealth Fighter jets. Big show of force against north korea, and the North Koreans call that a prelude to nuclear war. Listen to this, politico making the case for Chelsea Clinton to run for senator in her former home state of arkansas. Mike huckabee, former arkansas governor, he will respond, and well be back. His late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. 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 broadcom is a chipmaker, its ts first step today towardsc a hostile bid to take over its rival, qualcomm. Both stocks up. Now this politico floating the idea that Chelsea Clinton should run for senate in arkansas if senator tom cotton is, in fact, heading for the cia. Mike huckabees with us, former republican governor of arkansas. What do you make of this, governor . Well, first of all, tom cottons still in the senate, hasnt taken another job are, so thats the first impediment to her becoming senator from arkansas. The second one is that chelsea hasnt lived in arkansas since she was 11 years old. Shes been gone for almost 25 years, has never voted in arkansas, has never owned a home or even rented an apartment or had a drivers license in arkansas. But i guess if hillary can move to new york and three months later become the senator from there by changing her zip code, look, she could become a candidate. Could she be elected . Theres as great a likelihood that Chelsea Handler would get elected in arkansas right now as would any other democrat. [laughter] stuart okay. I think we can dismiss that. I think the clinton clan is pretty much out of the political business, but thats just my point of view. A more serious question, governor. Thec mueller aide fired for antitrump texts now facing review for his role in the clinton email probe. His name is peter strock. Im not sure how to pronounce it. I think this is a politicized Mueller Investigation and, therefore, bogus. What say you . Stuart, im just, im toned and im disappointed stunned and disappointed that you would think that someone who has been so openly antitrump working for the fbi, that that would somehow influence his, his whole approach to the investigation. Stuart, youre going to have to get out more and not be so cynical. [laughter] no one else in america would see that connection. No one. And believe that it smells as bad as you think it smells. Except for every other american whose nose works, for gosh sake. Of course thats ridiculous. [laughter] and its absurd that that stuart but its not going to stop it, is it . Look, its not going to stop it, governor. Im sorry to interrupt you, but look, i am im not being cynical can, im being realistic, i think. I do think its bow bus at this point bogus at this point, but i dont think its going toc stop. I dont either. And the tragedy is that if you look at all of the people that mueller eventually or ultimately hired, many of them were donors to hillarys campaign. I find that incredibly troubling because if you have people who have already determined with their own dollars, their own checks, their own money that they took a side in the election in a very controversial, divided election, then i dont see how in the world you could ever say that they are totally objective and detached from the political maneuvers that this investigation could lead to. I think its tainted. Look, ive said it very clearly, we need to investigate the investigation. And if congress doesnt have the doesnts and if the doj under Jeff Sessions doesnt have the guts, then as a country the justice for all of us is essentially over. Stuart all right, governor. Important stuff here. Governor huckabee, thank you very much for joining us this morning. Hope youre an investor, because were all looking pretty good right now. Thanks, governor. Well see you again soon. You bet. Stuart sports fans, the Supreme Court hears arguments on a case that could lead to legalized sports gambling all across the country. Theyll hear those arguments today. Andc again, gotta look at those futures. We are going to be up and then some this morning. The dow will add, what, 200odd points right at the opening bell. You want to put a smile on your face . Check your 401 k . More varney after this. The moment a fish is pulled out from the water, its a race against time. And keeping it in the right conditions is the best way to get that fish to your plate safely. Bacteria can multiply to high enough levels that even cooking it will not destroy all of them. Its definitely the most important thing in my business. How fresh is the fish . Where it comes from . How it gets here. The more i know, the better. Sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. We took our world Class Network and we developed devices to track environmental conditions. This device allows people to understand whats happening not only with the location of that asset, but also if its too hot, if its too cold, if its been dropped. Its completely unique. We ship fish, beef, poultry, vaccines, insulin. This is about monitoring and protecting everything we ship. I catch all this amazing, beautiful fish and then once its out of my hands, i have no control over what happens to it. If you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. Its really all about the network. You are looking at trillions of transactions a year. Not too Many Companies in the world can even scale to that type of volume. Who knew a tiny sensor could help keep the food chain safe . Food has to be fresh. Its that simple. Stuart today the Supreme Court hears a case that could, could legalize sports gambling all across the country. Not just nevada. Whats going on . Yeah. 25yearold federal law prohibits Sports Betting to nevada and three other states. I didnt know this. Oregon, montana and delaware. But new jersey is challenging it saying this is an unfair intrusion of states rights by the feds. So theyre going to go to court and say you need to open this up to the rest of the country. Whos the main opposition in this . All the main sports franchises, the nba, hockey, football, ncaa. They say that this leads to, well, corruption and scandals and, therefore, they say it shouldnt be allowed. Supreme court will rule on this by june of next year, but it could generate a massive amount of money for states. Stuart all right. Seven minutes from now the market opens, ands going to opec sharply higher. Heres what we call the futures, thats a way of looking towards the opening bell and seeing how were going to open, ask were going to open up all across the board. E. Mac, im going to repeat that, weve got records here six and a half minutes from now all across the board. Yeah, all across the board. The dow could see its 80th record close today since the election. This is the first synchronized Global Recovery we have seen in eight years. We could see four straight quarters of 3 growth. Certainly, the markets are cheering the businessfriendly tax overhaul. And you can see how hard wired the market is to President Trump when the false abc report came in and we closed marginally, fractionally to the downside. We did retrace. But we could pop today, bigtime. Stuart by the looks of it. I want to tell everybody that last week, it was on wednesday that we first time crossed the 24,000 sorry, the yeah, the 24,000 mark. And i said to ash, when are we going to hit ash, and you said . Next tuesday. Stuart thats right. And we all laughed. And were pretty darn close if we go up big today. Were not laughing now. Stuart see howc close we get o 25,000 when the opening bell ringings. Well take you rings. Well take you there moments from now. They appear out of nowhere. My secret visitors. Appearing next to me in plain sight. Hallucinations and delusions. These are the unknown parts of living with parkinsons disease. What stories they tell. But for my ears only. What plots they unfold. But only in my mind. Over 50 of people with parkinsons will experience hallucinations or delusions during the course of their disease. And these can worsen over time, making things even more challenging. But there are advances that have led to Treatment Options that can help. If someone you love has parkinsons and is experiencing hallucinations or delusions, talk to your parkinsons specialist. Because theres more to parkinsons. My visitors should be the ones i want to see. Learn more at moretoparkinsons. Com let out your inner child at the lexus december to remember sales event. Lease the 2017 is turbo for 299 a month for 36 months. Experience amazing at your lexus dealer. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Stuart now, we have deliberately come back on the air about 90 seconds before the market actually opens for trading. We wanted to set the scene. Youre about to see a little history here, because this market will pop right at the opening bell. If you look at the futures, thats a way of telling how the market opens down the road, an hour down the road or two hours down the road. Were looking at a 200point gain for the Dow Jones Industrial average. This really is there you go, 236. Actually, futures are going up. Its going to be an even bigger gain than we thought just a few minutes ago as we approach the opening bell. The futures go up and hook at that, 237 points, up at the opening bell today. This is really all about the tax deal. It was signed the tax deal went through the senate very, very early on saturday morning. The house of representatives has been called back into session today so that they can deal with this as it goesc through a housesenate Conference Committee. They will have a vote tonight in the house. It then goes immediately to the senate. The pace of this thing is really picking up. Odds are it will be signed, sealed, delivered by the president , and we are told on Christmas Eve. That is a very rapid progress towards actual tax cuts, a big trump win. Ten seconds to go. Youll be watching right there as this thing happens right as the market, i think im pretty sure, goes up. [laughter] im not wrong. Here we go, its 9 30 on a classic monday morning, and i see a ton of green. 205, up 28, up 227, 226. Alltime high, obviously. 24,466. 235 points. 240 points. Wow. Stuart im doing this for the benefit of our radio listeners. 242, 244. Buy something. Theres only four stocks, including microsoft oy that have gone down. Only a couple of cents, stuart. Stuart just a couple of cents, all right. [laughter] the dow is up about 1 . Show me the s pc 500, have we t a 1 gain there . Let me see, please. We have a almost. Stuart twothirds of 1 . Thats an alltime high. How about the nasdaq . What have we got there . Weve got a gain of. 7 . So the gain on the dow is better than the gain on the nasdaq or the s p. Cvs agrees to buy aetna. Its a 69 billion deal. Cvs is down a couple of bucks, thats 2 . Aetna is up 3 at 184. A lot more on that. That, basically, is the Amazon Effect. Well have more on that in a second. Whos joining us on this historic day . Ashley webster, liz macdonald, d. R. Barton and scott martin. More green arrows, you can see them all over the place. All right, obvious question, 25,000 when, d. R. . Well, i believe, stuart, you know im a numbers guy, and i believe we can get there by the end of the year. Weve got almost 3 to make up. December overall times for the last 88 years has gone up 1. 54 on average. So its the biggest up month, and this would be about double that amount. But this aint our pa and grandma grandpa andc grandms markets. I think we can get there because of tax reform, because of global strength and because of the expanding u. S. Economy. Stuart okay. Earlier today scott martin said well get there either by Christmas Eve or by new years eve, one of the two. [laughter] a lot of people are onboard with 25k very, very soon. Now, throughout the program, throughout the next two and a half hours, youre going to be seeing on your screen lots of stocks that are moving. This is a sharp upside move. We know you want to check in on the stocks you follow, which you may own. If youre on the radio, here they are jpmorgan is up 3 , 108. Home depot, up 2 , 184. Goldman sachs up 1. 7 , 253. Boeing is at 277, up another 2 . And caterpillar, up 2 at 144. Winners across the board. Let me quickly address the market swoon on friday after that incorrect abc report. Scott martin, should investors sue abc news . Oh, gosh, stuart, that probably is going to be a fools errand. As you talked about with the judge, i dont know if we could cadl abc malicious in this error. Certainly dumb is a word that comes to mind, but heres what it goes to show you though. Whether youre investing for the short, medium or longer term, youve got to pack your patience. Youre going to have rumors that come across the tape that if youre looking to accrue stock over time, these are actually buying opportunityings. I know its really hard to go to the window and hit the buy button when you have a mini crash, lets say, like we did on friday, but those are buying up opportunities. Those are bargainings. Stuart on your screen right now, l brands, united we just changed the screen. Were trying to give you as many winners as we can, l brands, united airlines, gap, j. B. Hunt transportation and kroger, all of them up 3 . Thats a significant gain. Show me the nasdaq winners again. This is for the benefit of radio listeners. Nasdaq winners are okay, well get there, im sure. [laughter] there you go. Bed bath and beyond, express scripts, comcast, endo international, two, three, four, five, six percent higher. Theyre all winning. Ive got to talk about cvs. Theyve agreed to buy aetna, 69 billion deal. Is this ac gamechanger, liz . It is. And scott made a good point about amazon, but its also what the American People want, and thats fast food health care. You walk in, you get a prescription, an xray, and youre in and out. Popup clinics are very success. Cvs has 10,000 locations, it could easily turn into walkin, popup medical clinics. Stuart so over and above the Amazon Effect, youre saying fast food health care. Fast food health care. Stuart very good line. D. R. , quick. Yes, cvs is going to be able to tap into 23 million aetna subscribers including myself and be able to offer them special deals to get aetnas insurance costs down. Theres going to be a buildon effect if you can get them to do your sons or Daughters High School physical to play sports instead of going to the doctor, go to the cvs, they can save money for aetna, for the clients. Its a win win. Stuart now, theres also been speculation about a tiein between a Health Care Company and a major retailer, if i can put it like that. Look at humana. Its speculation, but theres talk of humana with walmart or walgreens. Stuart scott, you pointed this outc earlier. Look what you did. Humana is up 1. 88, not a huge gain, but any more on this, please . Yeah. And i didnt want get the buying order i didnt get the buying order in time either. Think about a name you just mentioned, stuart, krogers, target, those are other areas where you have these walkin clinics. You have folks who are already doing shopping here, so why not take care of your health care . I love it, because these stores are starting to benefit from walkin clinics. Look at target and krogers maybe trying to get in the job as well. Stuart fast food clinics fast food health care. Stuart thank you, liz. It was your rhine line, and im not going to steal it. Were up 212 points, 24,438. The chipmaker, broadcom, its going to take its first formal step today towards a hostile takeover bid for qualcomm. Qualcomm down, broadcom down, okay. Disney has reengaged in discussions with 21st century fox to purchase some of the assets. The talk centered on 20th centurys movie and studio assets but not fox news or the fox oadcast network or fox business. Paypal holdings said friday personal information for 1. 6 million users has potentially been compromised at a company it acquired earlier this year. Paypal down half percent. Look at facebook, its got a new app, messenger kids. Its for 612 year olds. No ads on it, parents control it from their own facebook page. Facebook is at 175. Look at the big tech names as of right now, i believe the only to loser is microsofts down and google is down. The others are going up again. D. R. , which of these, if any, would you buy right now . I still love facebook, stuart. Facebook and google are the due won hi that are going to control duopoly that are going to control Online Advertising for a long time. Facebook already has one out of four man, woman and child on the globe on facebook, and now theyre giving parents a reason to put their kids on to grow that number even further. They are a juggernaut, i like them out of everyone on that list. Stuart then we have chipotle fiddling with their unpopular queso recipe. [laughter] all right, lizzie, give us the story. So what happened was they came out with a case sew recipe queso recipe, and then the jokes started pouring in, its a crime against cheese, its a bizarre cheese. Nothing can ruin a party faster than bad queso cheese dip. So they really thought the road to recovery from the foodborne illness scandal was queso. It didnt work. Now theyre rolling out an allnatural version of the cheese dip, and theyre trying to see if thisll work with wall street. They got target price cuts on this. They went into another kind of a slump because of bad queso. Cheese abuse. Ill tell you, theres 23 ingredients, i dont want to try to pronounce them, id murder the Spanish Language trying to pronounce [laughter] stuart i want to move on, because im going to talk about p. T. Barnum. Elon musk reportedly plans to launch his red tesla roadster to mars in january. I dont get it, ash. Well, theyve got the falcon heavy launch which is the biggest rocket yet that this companys going to put into space. It can take five of these things. Now, this all started somewhat tongue in cheek over the weekend. Is he serious . A red car for thec red planet, thats the thing here. Send it to mars, theres going to be some alien thats going to say, can you believe this . I love it. Its free. Wheres the charging station on mars . [laughter] sensational proof of payload capability. Thats what hes doing the, its just to show off. Stuart ill buy it. At least its a good car. Stuart macys planning to hire an extra 7,000 seasonal workers. Is that a good sign for Holiday Shopping thus far . I believe its a very good sign. I thought macys might have trouble. They already said they were going to hire 80,000 seasonal workers, this is 7,000 on top of that. Its not the 120,000 that amazons hiring, but bed bath and beyond is exploding today, it was a strong black friday weekend, i think this is going to be a very good retail season. Usually 2530 , i think this year 3035 of annual retail sales are going to come this christmas season. Stuart scout martin, which stock are you planning to buy when youre finished with us in 30 seconds . Well, it probably looks like humana based on our comments a few minutes ago. [laughter] i likec d. R. s comment, ill tl you something interesting, were starting to get to the bottom at retail. Look at jcp, sears, some of these names are starting to pop because theyre starting to bottom out. This Holiday Shopping season is going to be incredible. If youre looking to pick up some bargains, id look at the retail space. Stuart thank you very much, indeed, gentlemen, on this historic day. All good stuff. Now look at the market, please, i believe this is the high of the no, not quite. Were up 222 points at 24,454. Question for you, have you ever wanted a bowl of soup so badly that you didnt want to get off the couch to make it or drive to the store to get it yes. Stuart yes. [laughter] campbells is now getting into the online soup delivery service. Next. I mean wish i had time to take care of my portfolio, but. Well, what are you doing tomorrow 10am . Staff meeting. Noon . Eating. 3 45 . Uh, compliance training. 6 30 . Sams baseball practice. 8 30 . Tai chi. Yeah, so sounds relaxing. Alright, 9 53 . I usually make their lunches then, and i have a little vegan so wow, you are busy. Wouldnt it be great if you had investments that worked as hard as you do . Yeah. Introducing essential portfolios. The automated investing solution that lets you focus on your life. Stuart well, i do believe this is the h of the day so far, were up 248, 247 now. 24,480 as we speak. By the way, campbell, theyre testing online soup delivery. Nicole, dont spend long on this, just tell me whats going on, please. Reporter listen, baby, its cold outside. Theyre doing something. Theyve got to bring the soups to your door. Theyre trying to figure out they have not had Quarterly Sales growth since 2014, theyre going to have specialtyc soups bringing them to your door in an effort to battle the lack of growth that the company is seeing. This is their new, big por ray into bringing foray into bringing special premium soup. Stuart the stock is up, so what . Got it. Back to the sausage making on tax reform. Our next guest is upset with the tax bill, and he regrets donating money to the campaigns of jeff flake and bob corker, senators both. Hes an economist and former senior staffer on capitol hill. You did give money to jeff flake and bob corker, and now you regret it. Why . Well, i give money to all republicans. I dont buy the steve bannon line that it doesnt make a difference whether its Mitch Mcconnell or the democrats controlling the senate, i want the republicans to control the senate. But i was shocked that they were talking about a trigger for the tax bill. And thankfully, it was killed. But a trigger . The last president to propose raising taxes with a declining, rapidly declining economy was herbert hoover, and that would have been a disaster for the republicans. Stuart david, answer me this question, jeff flake voted for it, but bob corker did not. Was bob corkersc opposition basically personal because the president had been nasty to him . I think you have to let that speak. I had a conversation with one of those individuals, or a discourse with one of those individuals the morning before the vote and made the case this is austerity economics. I mean, this is what the imf proposed for greece and look how that ended up. I said you dont want to go there. I said, but i think that i dont understand what the personal motives there and all the rest, but i do know this, that its worked out, and i think its time the move on for those guys. Stuart weve got a housesenate Conference Committee, and theyre going to work out what the final deal will be. I take it that theyre only going to tweak this thing as opposed to major rewrites. Is that correct . Actually, i think theres a little more going on there. You know, the president had said all along a corporate rate of 20 , nothing higher. And i noticed that senator rubio, right in the middle of the negotiation, was trying to bump it up. No. Now 22, the president says 22 is acceptable. I think the big surprise right now, the thing thatc is that for the house, the house is now open to a drop in the individual rate. Stuart okay. Hold on a decked sec, david. Hold on a second, david. Blake burman says this, he says if you look at the process and policy, he says both chambers are well alined, and they fully expect this will be resolved before christmas and the president will sign this tax legislation into law in 2017. So very optimistic, positive outlook. The two chambers are well aligned. Stuart okay. Youre in line with that, david . I mean, theyre in line. Nothings going to stop this thing. Theyre in line. Nothings going to stop it, theyre in line, but it could be i think there is a realization now that, particularly in the house, that they came out with, to keep the top rate at 39. 6. And i think there is a realization now that that, you know, that was what the president at the time was saying they had to have. But i think thats going to come down. The senates already brought it down to 38, and i think its going to come down. Because, basically, the definition of tax reform in the view of the congress, republicans in congress, is not to raise taxes at the top, its to make the system more efficient byc lowering rates bt then taking away things like the deduction for state and local income, taking away all the loopholes, keep the rate the same. Essentially, tax the estate the same, but its a much more efficient system, and i think thats going to be the surprise. I really do. I think thats the surprise. Stuart okay. I think our audience will approve. David, thanks for joining us. As always, good stuff. Excellent comments on the sausage making, appreciate that. American airlines resolves a problem that could have canceled thousands of flights during the holiday season. All of the flights will have piloting and crews. Remember last week the pilot union sent panic across the land. 15,000 holiday flights will have no crews and pilots, now theyve resolved it. Unclear whether the pilots are getting time and a half, but theyve kissed and made up. No flights have been canceled, so if youre flying American Airlines over the holidays, your flight is probably okay. Stuart well, thats very good news for an awful lot of people, i do believe. Check that market scan, a look at all 30 of the dow stocks, 25, 24 of them are up, 6 of them are down, and the dow is up 235 points. A favorite segment on Varney Company, rare diamonds going up forc auction. More than 7 million worth of them. They are here on this set within touchable distance of my right hand. Uhoh. Stuart watch out. Well be back. Zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. 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 before we get to the diamonds, we have to check the markets on a day like this. You have to check the markets. Look at this, were up 233 points on the dow, 19 points on the s p, 37 on the nasdaq. Licenser this is the trump ladies and gentlemen, this is the trump rally writ large. Now lets get to christies, raul is with us, and hes brought all kinds of goodies which we will now show our audience. Welcome to the show. Thank you. Always happy to be with you. Stuart is business good . Business is good. Stuart were going to make it even better. Thank you. Stuart earrings, they look huge. They are big. They are quite sculptural. We have a large sapphire and a garnet. Stuart get close in there. The sapphire a Blue Sapphire there and a green garnet. Unusual gemstone. Set in a pair of ear clips, quite large, by a jeweler who ic quite famous based out of paris. Stuart you cant see it very well on tv, but they look huge. Yeah. Shall i pick them up . Stuart please. Hold it still. Get an idea of the scale. Stuart gigantic. How much . Theyre made in titanium, is theyre not so heavy. Stuart whatever you say, how much . A million dollars. Stuart why would you wear blue on one side and green on the other . Its art. Stuart oh, okay. [laughter] this is art. Stuart a million dollars. I have no taste. I think theyre great. I think so too. Stuart were about to show one of our producers who is about to model a remarkable necklace. Look at that. Made in 1961 is by Harry Winston inspired by the christmas wreath, and thats the Harry Winstoning wreath necklace. Stuart how many carats . 165. Stuart im trying to to guess at the price, i have no idea. Throw it out there. Stuart 15 million. I hope so, but its only 1. 5 million. Stuart youre kidding . 165 carats. Stuart chrissy, you might buy it yourself. Yeah. Try and figurec out a way. [laughter] stuart its a beauty. It sparkles. Beautiful. Weve sold it twice before at christies, this is the third time its come back to us. Stuart is it an investment . The price keeps going up . Every single time. Stuart show us the ring. Casey right here. Stuart now, thats a ring and a and a half. Thats as white as can be, the best, almost 40carat diamond ring, and whats really special about that ring is that the consignor whos owned it for well over 25 years is now selling it, and all the proceeds of that ring are going for charity. Stuart really . From the aspca to the nypd and a number of other charities. Charity, stu. Stuart almost kissed the ring there. Thats remarkable. How many carats . 39. Almost 40 carats. Stuart now, this is an auction. All for sale at christies at rockefeller mass saw, december 6th, wednesday, starting at 10 a. M. And again at i 2 30. Stuart its not blipping understated jewels at christies. Stuart raul, youre all right. Thanks for joining us,0sir, we appreciate it. Thank you. Stuart President Trump scores, i think, major wins on taxes and the economy. Have you seen the rally . Have you seen whats going on on wall street . The Mainstream Media has nothing but contempt for our commander in chief. 10 00, couple of minutes away, my take right at the top of it. Well be back. [phone ring] hello. Hi, its anne from edward jones. Im glad i caught you. Well im just leaving the office so for once ive got plenty of time. Whats going on . So those financial regulations being talked about . They could affect your accounts, so lets get together and talk, and make sure everythings clear. Thanks. Yeah. That would be great. Weve grown to over 900 billion in assets under care. By being proactive, not reactive. Its how edward jones makes sense of investing. Stuart as President Trump scores a major win with tax cuts and economic growth, the media isc blatant contempt for i am s glaringly obvious and costing you money. Friday, abc news put out a report, if true, would have opened the door to impeachment. There was immediate stock selloff. The dow dropped 350 points. We watched it fall on this program. But, the report was inaccurate. It wasnt true. The reporter, brian ross, had rushed his fake news on to the air because he wanted to lead the impeachment charge. Some investors lost money. The president wants a lawsuit. Fast forward to this morning. What do you see, is an allout attempt to squelch the news of the president s win, just divert attention. Cnbc breathlessly report the democrats are building case for obstruction of justice charge because the president fired comey. On abc George Stephanopoulos angrily asked senator mcconnell is the government going to shut down . In the Washington Post, headline says, trump lawyer says, flynn gave fbi same account to Vice President. What . That is your lead on a monday morning . That one. No mention of the peter strock, the top fbi agent who played a key role in thec russia, russi, investigation and hillarys email investigation. Now we find he is a trump hater. The Mueller Probe is hope lesslessly poe let sized. Theyre on the same political trump hating side. Ive been reporting on news in tv in america over 40 years. I have never seen anything like this. This amounts betrayal of the public trust. The media is antitrump propaganda machine. It is not working well. We are getting tax cuts. The economy is growing and will grow faster next year. Wellpaid jobs are coming back. And guess what . The president s Approval Rating is going up. The good sense of the American People shines through. The media stews in hate and contempt. The second hour of Varney Company is about to begin. Stuart and wouldnt you know it, big win for President Trump and we have the high of the day on the market. We have reached 24,500. How about that. Is professor krugmanc watching, he who for cast a crash. Ashley he is too embarrassed to watch right now. Stuart you can never embarass that guy. Big tech stocks, where are they . I would have thought they gone up. Microsoft is down, alphabet is down. How about that. Look on the lefthand side the dow is powering towards maybe 300 points gain. Looking on righthand side, that as financials as a group of stock is very big winner from tax cuts and also from Regulatory Reform at the financial industry. All the financials significantly higher. Chipmaker broadcom will make the first formal step towards a hostile bid to take over qualcomm. Both those stocks are down. We have paypal, im sorry, personal information for 1. 6 million users may been compromised. The stock is down 2 1 2 . Keep your eye on the dow, powering toward a 300 point gain, how about that. Were staying on markets. We saw the dow hit 24,000 on wednesday of last week. Will it hit 25,000 by christmas . Or maybe sooner . Im not goingc to get into it. Jack hough, barrons senior editor. When will the dow hit 25,000. Soon by christmas. The tax cuts are not fully priced into this market yet. It is a onetime bump you get from the Corporate Tax cuts. Well see in fact whether it creates more growth but that onetime bump is something. I dont see it fully prized in. Deutsche bank said made a quarter of it is priced in. Could see more upside for shares. Stuart christmass three weeks away. You think we have another 500 points within three weeks . I declare it to be so. It will happen. Stuart now only person yet to weigh in on when we hit 25,000, looking right at you, liz. Liz yes, you are. Stuart what do you think we hit 25,000. Liz i think ash is right. We hit it tomorrow. Ashley i shouldnt laugh. Trying to oneup me. Liz youre fine. 4 bump from 24 to 25. Percentagewise easier to hit it. Stuart if you see us all looking offcamara were looking at big screen in the studio looking at dow industrials. Right now were up 292, 294,c 295, 296. You know, 297. We have to hold on to this for a second. Mesmerizing. Stuart jack, you stay there. You say were 25k by christmas. I watch the screen. Ashley 299. Stuart sorry, im distracted by that screen. Now this. Ashley we can do this all day. Stuart keep it on the screen. Politicization of the Mueller Probe, i think its a politicized probe period. Mueller removes an agent after he was found to have sent antitrump texts. We have florida congressman matt gaetz on the Judiciary Committee. What do you make of this . I think it is a politicized investigation. What say you . Youre absolutely right, stuart, and we continue to see more pockets of evidence there is antitrump bias at the fbi and there is proHillary Clinton bias. We have got Text Messages antitrump resulted in this particular individuals dismissal. We have to wonder why he was on the investigation in the first place. We also have to wonder why the Current Deputy director of the fbi sent emails during the clinton investigation saying that Hillary Clinton was going to be treated special by a small team atc headquarters. That her investigation wouldnt go through the normal investigative procedures. This is very troubling for the fbi. Well have Christopher Wray before the Judiciary Committee this week. Well have tough questions what were going to do to clean house at the deep state, have a rule of law that the American People can trust and rely upon. Stuart okay, got it. I want to move on to the tax cut deal. Some democrats call it a class, they say it is class warfare. Watch this from senator jon tester, roll tape. Take a look at this, folks this is your government at work. Here is the bill as it is were written. Here are the modifications written. I can read one word. It is called, add this language. Can you tell me what that word is . Stuart congressman gathers the man has a point. What say you. I will not defend handwriting of night senate. Some days im at a nursing home. Were fighting to cut taxes for all americans. I think well see the changes to the tax bill in conference, as you correctly pointed out in the last segment, we havent realized total economic tax cut until we implement it. Well see Consumer Confidence rising, Investor Confidence rising, more capital in the markets. Malt let i delivering on promises we made to improve live for the American People. Stuart going to Conference Committee to iron out the differences between senate and house versions of tax cuts. Could you point to any change, you sir, would like to see . I want a bill we can pass. I understand in the house of representatives were going to have to have some accessible deductions for state and local property taxes. I think that is going to be the important just for math of getting to 218 votes in the house. That is not as much consideration in the senate because a blue state members of the senate are already voting against the bill. We have number of republicans in blue states that want to vote for the bill, but they dont want any american to say that a Republican Congress raised their taxes. That will be important. There are a few deductions we have to work on, get appropriate scoring for. Ultimately the key will be keeping the low Corporate Tax rate. That is really what is going to increase job creation and lead to wage growth we never saw in the obama economy. Stuart last one, congressman,c we hear on this program from many sources that the momentum is unstoppable. This thing is going to happen. You in with that . I am and nothing focuses the mind not quite the sound of your own gallows being built. Republicans if we know if we dont pass the tax cut well be out of the majority and well deserve it. Were rowing in the same direction, were on the same team. Well fight to deliver legislative win for our president. Stuart matt gaetz, thank you very much for being here. Thank you, stuart. Stuart i want to get to, wait for it, bitcoin. It hit a record high, 11,826. That was this morning. The big runup made its first billionaires. Those guys on the left. Ashley the winkelvoss twins, cameron and tyler, who famously sued Mark Zuckerberg saying he stole our idea of facebook. They got 65 million, billion would be great. They got 65 million. They invested 11 million in bitcoin in 2013. Once it went past that 10,000 mark. They have now over one billion dollars worth of bitcoin. They have never spent it. Just sitting in their wallet, bitcoin wallet. How about that for . Xp investment. Lizzie . Liz since 2013 bitcoin crashed 85 more than five occasions this is not a hockey stick up. Ashley cash in now, take the money . Stuart lets ask jack hough he makes the living making this analysis. I think this is speculative bubble. What do you say . This is instrument of pure speculative frenzy. Take investment out there, strip away cash flows and strip away industrial uses, get down to just frenzy what bitcoin is. It is not a currency. You cant have a currency multiply value 10 times in year. That is not keeping. Liz what is it its store of value. Is it done rising yet . I dont know. I think it can get crazier. Stuart were about to hit, there we go, 300 points up. 24,533. Im doing the math. That will be 469 points to go to 25,000. Lizzie thinks well get there tomorrow. Well take that. How about this . Not everything goes according to plan. Check this out. Michigan, supposed to be imploded, knocked down essentially this weekend, except many metal beams supporting upper ring of the dome held firm after the blast. The building could collapse on its own after this point. Ashley dont go near it. Stuart here is one. Coming up, americas military showing off its might this weekend. South korea debuting new warplanes. President trump says when it comes to north korea, he will take care of it. Were on it. Supreme court taking Sports Betting, taking it up i should say. Fox sports 1 host Jason Whitlock later this hour. Youre watching the second hour of Varney Company. Stuart we hit plus 300, pulled back a bit. Were up 273. When we, before the trading day started, all of those blocks were in the green, meaning all dow 30 stocks were up. Since the opening we had four of them that are down, including microsoft, which i own a small piece of. Price of oil, 57 bucks a barrel this morning. The price of gold, where is that today, were at 1278 per ounce. Overseas, north korea, u. S. Unveiling new warplanes in south korea. Big show of military might. The biggest, baddest planes we got. In response. North korea calls this prelude to nuclear war. Here is what National Security advisor h. R. Mcmaster said about the mortgage cree threat. Roll tape. President is saying we all need to take care of it, if necessary, the president and United States will have to take care of it, because he said he will notc allow murderous rogue regime to threaten the United States. Stuart come on in, ralph peters, fox news strategic analyst. Hey, stuart. Stuart sir, at the end of the day, look down the road, we have to make a decision, are we going to accept a Nuclear North Korea or are we doing something about it militarily. Is that the choice . That is the choice. Were running out of hope for alternative, peaceful solutions. All sane people agree a real solution would be preferrable. North korean regime on this relentless path to mating Intercontinental Ballistic Missile technology with Nuclear Warheads, the danger to American Cities, when you look at the explicit, repeated public threats from north korea, stuart, that is a chance we cant take. If it comes down to it, better dead North Koreans than dead americans. Stuart how will this take place . We start shooting down any and all of their missiles that are launched . Destroying the launchpads . Well, no. It would be much more complex with that. And that is really the challenge. This is not a question of a few surgical strikes. If we wanted to destroy, destroy their capability, toc build a fleet of icbms with mated Nuclear Warheads it would require a intensive campaign, primarily, not exclusively, from the air. That would run a minimum of several weeks, possibly months. You cant predict these things once you start pulling triggers and ultimately the question is, the regime in north korea, should it survive . So it is not just hitting a couple of launchers, knocking down some missiles. You have to go after deep underground bunkers, research facilities. Commandandcontrol, air defense, intelligence, Early Warning this is real war. If we had to address the north korea problem militarily, its a war. Stuart what would you do, ralph . Well, i would give the chinese one last shot. But the chinese keep promising, then they do enough to placate us for a month or so but the chinese are the only people left who can bring about a peaceful solution. If they really came down hard on north korea, being complicated by russian smuggling into north korea and out, but if the chinese wont help us, theyre a bit flummoxed at the moment, theyre wary what is going on. They cant controle jongun. If they wont come down hard militarily, stuart, it will end in violence. Stuart would you give a time frame for this . Tough be wary but, the south Korean Intelligence Services believe the North Koreans will be capable of building a missile, prototype that can deliver a Nuclear Warhead within a year. One missile isnt enough. They need a bunch of missiles, the trigger point when our intelligence community, judges that north korea can build an icbm and successfully mate Nuclear Warhead with it, that is the timing. Decision as you put it, i will rephrase it a little bit, better to put American Cities at risk of Nuclear Catastrophe or at least nuclear blackmail, or to act while we can . Stuart what a choice. What a choice. It is ugly. It is ugly, ugly. Stuart no Good Solutions out there, ralph. Difficult subject. We appreciate you being here. All right. Well have more on the Amazon Effect hitting all corners of the economy, Health Insurance to home assistance. This is extraordinary story. Even though the stock is down, the Amazon Effect is very powerful. On. Back in a second. Nah. Not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call to save 500 off bath walls with your walkin bath, or visit kohlerwalkinbath. Com for more info. 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 we talk a lot about the Amazon Effect. We assumed. Cvs is buying aetna because of the challenge from amazon. They are buying, by the way, to 69 billion. I want to bring in jack hough. It is not just the amazonc efft here. They are carrying health care in a new direction. Amazon gathered some of these pharmacy licensees, they worry down the road bigger competitor to cvs but cvs has a gem of an asset. It is called minute clinic. It is in 1000 stores or now. It is basically a walkin clinic, 50 or 100, get basic health care needs. It is underutilized. It is key differentiator between them and other players in this business. Down the road you start to see more services added, more people going there. This deal with the gnat, it unlocks a huge base of aetna members. Aetna would love Nothing Better than see its folks go to minute clinics for basic health care needs, rather than go to pricey hospital or doctors office. It is really opportunity to cash in there. Stuart lizzie called it fastfood health care. That is not pejorative. Liz no. Stuart that sin know vision. Liz it is. Ash and i were joking at the break, pig up gallon jug of mayonnaise and box of wine and check in with the Health Clinic for an xray. Why not. Why not. Home devices you speak to them, you get things for you. Play the beatles, they play thec beatles. Google has got one. Theyre adding functions to it. Amazon has one called the alexa, right. Who is the winner here . There is room for two in the marketplace, jack . So far amazon has been, this alexa has been a huge hit. Now google is adding features that will allow to you get home professionals. Find me a plumber, this and that. Theyre partnering with a Company Called home advisor. This home advisor is spinoff from iac interactive. That is basically an internet rollup. Every once in a while they do ipo. Liz that is barry diller, right . Barry diller. Make full use of home device. Iac still own as piece. Find a way to make money on this stuff no one is watching. All of sudden, yeah, that is how we get a plumber in the future. Liz i use home advisor. They have fivestar housing contractors licensed. Stuart hooked into google. Rating system. Other people review. Youre not blindly choosing your electrician or roofer. What other people are saying about this person. Get some reviews. Ashley voice activated internet, whether home or now in the work place, giving it into work places. It is cool. Stuart it is fascinating. It isc the thing of future, ist it. Ashley yes. Stuart i must get one. Doesnt it record everything you say . Ashley probably. Stuart not getting one. President trump is now on his way to utah. We will announce he is shrinking the size of some of those national monuments, big parks there. Greenies will not like it, but were all over it. [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. The moment a fish is pulled out from the water, its a race against time. And keeping it in the right conditions is the best way to get that fish to your plate safely. Bacteria can multiply to high enough levels that even cooking it will not destroy all of them. Its definitely the most important thing in my business. How fresh is the fish . Where it comes from . How it gets here. The more i know, the better. Sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. We took our world Class Network and we developed devices to track environmental conditions. This device allows people to understand whats happening not only with the location of that asset, but also if its too hot, if its too cold, if its been dropped. Its completely unique. We ship fish, beef, poultry, vaccines, insulin. This is about monitoring and protecting everything we ship. I catch all this amazing, beautiful fish and then once its out of my hands, i have no control over what happens to it. If you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. Its really all about the network. You are looking at trillions of transactions a year. Not too Many Companies in the world can even scale to that type of volume. Who knew a tiny sensor could help keep the food chain safe . Food has to be fresh. Its that simple. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Please give at cancer. Org. Stuart what was that. My mind set on you. Who is this . George harrison. Of course i know this is george harrison. Of course, of course. The word from the market is big time. Trump rally, up 292. 24,523 is where we are. The big tech names, they have led this market for a long time. Theyre not leading it. Facebook, amazon, microsoft, alphabet, apple is managing a very small 70cent gain. Big tech is not making running today. Look at comcast, this is cable company. It will add 1. 1 million Broadband Internet subscribers. Investors will love that. It is at 40 a share. Lets get to the brian ross episode. He is a reporter from abc. They suspended him, incorrect, factually incorrect wrong report that hit the stock market friday. President trump tweeted about it. Here is what he wrote. Congratulations to abc news for horrendously inaccurate and dishonest report on the russia, russia, witchhunt. More networks and papers should do the same with their fake news. Mediabuzz host, howard kurtz is with us now. Your take, please on the brian ross situation. Stuart, brian ross made a impossible to excuse because the stakes are so high. Went on the air after the mike flynn guilty plea and said, well my source says, confidant says the president ordered flynn during the campaign, when it might have kind of a whiff of collusion to contact russia. Turns out totally untrue. Happened after the election. President trump was president elect, normal routine diplomatic thing to do. Abc suspended brian ross. They first said clarification. Upgraded to correction. Then there was apology and suspension. Dow jones average, a lot of people lost money, we were on the air, dow fell 350 points. People lost money t climbed a little bit in the afternoon. It wasnt;hutil the next day e comes back . He had long Award Winning career at abc he made highprofile mistakes. But i dont think he will lose his job. Good luck suing. I dont think the whole 350 point plunge could be laid at his feet. Turmoil of flynn guilty plea and aura uncertainty around white house wall street kind of hates. No getting around it, this was bad for abc. This was bad for brian ross. And let trump beat up on abc with his mantra of fake news. Stuart yes he did. Mainstream media i think this morning is ignoring what i think is the president s win on taxes and win on growing the economy. I was presented this morning with this Washington Post headline this, is their lead story. I wonder, howard, if you can explain this to me. Here it is, trump lawyer says president new flynn had given the fbi the same account he gave to Vice President. That is the lead story, Washington Post. Nothing to do with tax reform. The market, the growing economy, no. That inexplicable headline. Theyre trump haters, around they . That is going a little far here on the front page of print ngton post. A there is big story of tax reform, got overshadowed at 2 00 in the morning when we were all sleeping. On the point about the lawyer, so the president s lawyer now says he wrote the tweet in which the president seemed to say, that he fired mike flynn, some of this gets a little bit in the weed, not just because he lied to Vice President mike pence because he lied to the fbi. Ahha, the president knew flynn lied to the fbi. Maybe he was engaged in coverup. That is not definitive by any measure. I said eight, nine, 10 months, the russian story is often overplayed, in wake of former naps suit advisor pleading guilty, cooperating with mueller, the lawyer spoke yesterday to the Washington Post and others i think its a legitimate news story. Stuart so i think that the Washington Post hates the president , i will amend that i will say that its reporters and owner has contempt for him. Would you disagree . Jeff bezos may not like donald trump in business sense but he doesnt dictate to the newsroom. The editorial page and columnists certainly cant stand this president but i dont think it is fair to say the news coverage, sometimes it has been off, motivated by any sort of antitrump animus. After all, would you say it is not a story when thec presidens lawyer is backpedaling trying to explain what the president may or may not have known in criminal investigation that led to the indictment of the former National Security advisor . That is a story. Stuart that is a fair question. Its a story, but it should be a lead on the day the stock market is rallying like crazy, the economy is starting to grow, the Trump Administration got an enormous win out of tax cuts . No, i think they put it in the wrong context in the wrong place but off lead. You can take that shot. Stuart i will. I thought you might. Stuart definitely. Thanks, howard. We appreciate you being here. Great to see you. Now to the kate steinle verdict. Let me refresh your memory, the illegal immigrant who did shoot her, the jury said no, wasnt murder, wasnt manslaughter, it was a accident. That jury verdict maybe could help make the case for building a border wall. Bringing in congressman iowa congressman steve king who is big on the wall. Youre a big proponent of it. Can you will tell me if the steinle verdict has led to concrete steps to build that wall . Well, stuart i think it helped maybe the case. America is appalled at thec juy decision in San Francisco, that everybody in america recognizes there is not one dissenter that zarate killed kate steinle. They couldnt find him guilty of firstdegree, murder, seconddegree murder or pans slaughter or negligent homicide. They found him only guilty of a gun charge where he said he found a gun in shirt underneath a park bench and picked it up and went off spontaneously. I own a number of guns. I never had one do that. I cant believe this is the case. The jury seems to be antigun but proillegal aliens. We need a wall but a wall would have helped. It would have at least funneled that traffic, so we had a lot better chance to intercept him coming in. We need more. We need Kate Steinles law so he could have been locked up, five, 10, 20 or 25 more years depending on the charges. Stuart is there any definitive move to end this sanctuary city nonsense . I mean San Francisco is a sanctuary city. Arguably this wouldnt have happened if it had not been a sanctuary city. Does the steinle verdict give us concrete steps towards ending sanctuary cities . You know, stuart, i wish i could sqyc yes to that, and creates momentum of this congress, putting together the cr omni must facing us decemberth. I dont see will and leadership in the house and senate to make any definitive move that will lock down enforcement in this country or to build a wall. There seems to be reluctance there throughout the entire leadership team. I dont hear any one of them saying we have to protect the American People. Instead theyre say we have opportunity to do something about the amnesty with the daca people. I think they have that completely wrong. I think American People are victims of this. Ms13 has been loaded up with hundreds of daca recipients. And, the country has been victim of this. We need to restore rule of law, respect for rule of law. Why cant the law itself, the respect for it, be sacrosanct . Ronald reagan took the bait in 1986. He recanted. Ed meese iii, attorney general, wonderful, stellar man, also gave advice to Ronald Reagan and they said they learned that they should not have done that. But todays crop of leadership and members of congress seem not to want to go back to review and learn from the lessons of 1986. I lived them. I kicked a dent in myc filing cabinet that day when i find out reagan signed amnesty act. I knew the rule of law in america was damaged perhaps beyond repair. Now it espn traded into the psyche of even the conservatives in this congress. Stuart extraordinary. I like to have been there when you kicked the filing cabinet. It was a cheap filing cabinet. I wish i would have saved the door. I would frame it today, taken it to the floor of the house to give a lecture for an hour. Stuart not those days, everyone had video camera to take a picture. Steve king, thanks for joining us. Much obliged. Thank you, stuart. Stuart fbi agents role in the Hillary Clinton email probe, that role is now being investigated. Kind of investigating the investigation. The agent was found to have sent a antitrump messages, Text Messages. Fox news contributor and former utah congressman Jason Chaffetz is with us. I say that the Mueller Probe is hopelessly politicized. And you say . Well, as best i can tell there are people in there that have made political donations to the democratic party, and in the case of this particular agent, you have devin nunez, chairman of the House Intelligence Committee and trey gowdy wanting to interview thisuplrson, wanting to learn more, give documents. They have been given a stiffarm even though Intel Committee gave them a subpoena. Devin nunez said you have until the end of the week to give us documents or we will hold you in contempt. Hopefully that gets their attention. There is reason why the fbi and department of justice is refusing access to this person handing over the documents. Stuart whats that reason . Well, there is obviously something there because, you know, now you have media reporting that this person was actually sending texts remember he is having an affair with fbi attorney. That is the allegation, at least what im reading in the newspaper. Then at same time, these are antitrump texts. They are proHillary Clinton, supposedly. I havent read them. That is why the committee wants to look at them. This person is in the heart of the investigation. One of the people that was investigating the Hillary Clinton email scandal was there when Hillary Clinton was being interviewed. That all need to be verified and looked at by the Intel Committee. That is why we do oversight. Stuart just plain stinks, doesnt it . There is something wrong here. There is rotting flesh here that really has to be outed. Next one for you, sir, president barump is heading to utah. He is on his way there. That is your home state. We understand he is going to shrink or try to shrink some of the National Parks around the national monuments. Where do you stand on that . Not the National Parks but the national monuments. Remember utah is nearly 70 owned by the staved and federal government. When president obama used stroke of a pen to create a 1. 3 millionacre national monument, he transitioned public man to process where you cant have access to cattle land and fisherman and hunting community. Concept of multiple use would be phased out over course of time. For the president to take the bold step to reduce that, as well as Grand Staircase Escalante National monument, created by bill clinton, this is a bold step. We appreciate the president doing this when clinton and obama put it in place, there was not one single official in utah that represented the area that supported it. Now donald trump is coming in doing the right thing. Stuart not just like you want to drill for oil on the beautiful places we got on the screen. Nothing like that. You want to restorec a local control, a little bit thereof, right . Thats it . It was controlled bit bureau land management. It wasnt back to national monument. It will be controlled by bureau of land management. It will still have federal protection. Congressman rob bishop will drop two years, one about Grand Staircase and bears ears. The intention to allow multiple use but this is not some push by the energy community. Cattle mane are biggest winners. They have been running cattlemen over this during course of time and they have been kicked off of it. Stuart Jason Chaffetz. Thank you. Shortly we have much more what i call the medias contempt for president , ignoring his big win. In our next hour, Kellyanne Conway will join us. Supreme court taking up sports gambling today. Could completely change the way we consume sports. Maybe. Well be back. Ashley turns out the lead fbi investigator of the Hillary Clinton email scandal is now in trouble for sending out antitrump texts. Former Arkansas Governor Mike Huckabee said, that clinton investigation was tainted from the start. Roll tape. The tragedy if you look at all the people mueller eventually hired, many of them were donors to hillarys campaign. I find that incredibly troubling because, if you have people who have already determined with their own dollars, their own checks, their own money that they took a side in the election, in a very controversial, divided election, i dont see how in the world you could ever say that they are totally objective and detached from the political manuevers that this investigation could lead to. I think it is tainted. Look, i have said it very clearly, we need to investigate thec investigation. Copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Stuart Alabama Senate candidate roy moore thanking President Trump for his support. Here is moores latest tweet. The America First agenda will make America Great again. Cant wait to help him drain the swamp. In response to a tweet from where the president said we need moore to win in alabama. The Supreme Court hearing a case that could lead to the legalization of sports gambling in all states, not just nevada. Joining us now, Jason Whitlock, host of speak for yourself on fox sports 1. The criticism is if you have mass gambling on sports across all states, it opens the door to corruption. So are you in favor of allowing legalized gambling, yes or no . Well, varney, i think we already have gambling across the country. I dont think this will increase corruption. What i do think it will do, it will allow the governmentc or make it easier for the government to tax revenues on gambling because we have this underground Gambling Market now where it is hard for the government to monitor and tax that revenue. So, no, i dont think it will increase corruption. I do think it will government corrects from people and gambling earnings. The danger for the sports league, varney, the more you gamble, the more intensely you watch sports. The more intensely you watch sports, the more you start going, hmmm, i wonder about that foul call . I wonder about the whistle down the stretch . I wonder if thatfy is really playing hard . Stuart true. You start gambling more you question the integrity of sports. There is i think danger for the sports league. Stuart very good, whitlock. You call me varney. I call you whitlock. Yesterday, sunday, about two dozen players, took the knee during the National Anthem this weekend. Even though, the nfl has committed i think in the neighborhood of 100 million to causes favored by the athletes. Seems like the money didnt work. They took the knee anyway. What do you say . They didc take the knee. I do think the nfl managed to get the controversy out of the news cycle so heavy. I think they have done the best they can during the season, in trying to fix this problem. I think, what happens this offseason, whether the nfl adopts some rules where the players are taken off the field for the National Anthem, or, whether they do what i think is the right thing, require, put in a rule that they stand for the National Anthem. Stuart yes. But in terms of managing the situation, and moving the conversation back to football, i think the nfl has done that i think last nights game with Russell Wilson and the Seattle Seahawks was such an amazing game. I think there is more conversation about football than the National Anthem controversy. They have managed this situation in the season as best they could. Stuart i would love to ask you about the gronkowski hit. I would love to ask you about tiger making his comeback, you know what, whitlock . We have these hard breaks in television. As you well know i have got to take the hard break. We have got to make some money. Jason tiger wins the masters thisc year, varney. Stuart that is great out. Well take that jason, thank you very much. When you tax the rich they will leave. Now we have proof from one state. The numbers from illinois. Coming up next. Is this a phone . Or a little internet machine . [ phone rings ] 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. Choose by the gig or unlimited. And ask how to get a 200 prepaid card when you buy any new samsung device with Xfinity Mobile. A new kind of network designed to save you money. Click, call or visit today. Ashley now this, what were talking about, a tax exodus. This time in illinois. Theyre getting out. Jeff flock in chicago with the details. Jeff . Reporter been a trend for quite a while ashley, here in illinois. You tax people too much, they tend to leave the state. The state lost according to analysis by the illinois tax policy federation, 86,000 people last year from 2015 to 2016 i should say. The trend is increasing. Take a look at numbers on the trend increasing, fewer people. 73 , the trend increased yearoveryear of number of people leaving illinois. 65 is where the trend has gone in terms of fewer people filing tax returns. Of course that means lessc mony in the coffers. You know this, is something that democrats have been blamed for, although both parties sort of been responsible for but the republican governor, taking a stand on this but he has not been successful. As a result, bruce rauner, was named by the National Review in its latest edition as the worst republican governor in the state. Not easy being a republican governor in illinois. He hasnt been tremendously Successful Holding the line on taxes. I dont know that you can completely blame him for it. That is the way the trend is going. My two daughters, ashley, grew up and moved out of the state too. What can i say. Ashley jeff, quick question for you, we get questions from viewers, if rich people leave, who will come in and buy their home . No one wants to go into that tax situation . I own a home in illinois. That is excellent question. Ashley are you selling. Reporter i hope well have one well have an answer at some point if i retire. Ashley i wont ask you if youre rich. I have a feeling. That is not for airport port somebody married three times . Im not rich. Ashley leave it at that, jeff flock, thank you very much. Quick check of the big board for you. The dow up 235 points. c or 233. 24,0464. Hour three of varney coming right up. Stuart well, we sure hope youve been following fox business all morning, because we have very good news for you and for your money. In short, its this the economy is growing and will grow even faster next year. And stocks continue to show truly enormous gains that will benefit everyone. Lets call it what it is, the trump growth agenda and the trump rally. Both going strong. Now, despite opposition that borders on, frankly, hysteria, this president has cut red tape. Thats called regulatoryc refo. Hes made america the worlds dominant energy producer. Thats called common sense. Weve got it, its ours, go get it, please. Since the election the economy has started to grow at a much faster rate. Thats called prosperity. And now President Trumps on the verge of historic tax reform. On the economy this president is winning big. Investors, theyre winning big too. Stocks are up well over 6 trillion in total value since the election. If you watch this program, youve seen your money grow, youve seen the trump rally in realtime. All of this has been greeted with utter contempt by the media and the democrats. Youd think it was the end of the world. In fact, were entering a world of american prosperity. No wonder the left is upset. The third hour of Varney Company is about to begin. Stuart President Trump slamming abcs brian ross for the false report on michael flynn. That report caused the market to plunge friday. Well, abc has suspended ross. Blakec burman is live at the white house with more because, blake, the president made another reference to the story, correct . Reporter he did. And that plunge was 300 points on the dow in some 30 minutes because of this redacted story from abc news and brian ross. And the president reacted over the weekend, essential hi saying that stockholders who lost money because of it should seek litigation. Quote people who lost money when the stock market went down 350 points based on the false and dishonest reporting of brian ross of abc news should consider hiring a lawyer and suing abc for the damages this bad reporting has causeed. Many millions of dollars, he sends up saying. Now, when he left for utah from the white house here just a little while ago this morning, the president once again hailed the stock market and alluded to that ross report. Based on the vote we had last week, the stock market has been reacting unbelievably well. The only thing that hurts it is the fake news, and theres plenty of that. Reporter now, youve seen that market spike directly up because of the prospects of tax reform. Stuart, i can tell you over here at the white house they feel very good about how the house and the senate are expected to come together on this thing. Im told the singlec Biggest Issue might be how to treat passthroughs. Stuart got it. Thanks very much, blake. Now, check the big board. Where are we as of right now, just after 11 00 eastern time . Plenty of green amongst the dow 30, 24 of the dow 30 stocks are up, theyre in the green, and the dow jones average is up 229 points to be precise at this time. The tax plan moving forward, the market loves it. Joining us now is dan schafer. Hes the president and ceo of schafer Asset Management and, dan, youre on the show last week, you were on the show on friday. Just as the dow was plummeting yeah. Of. Stuart on this fake news. And i asked you specifically, i said, look, whats going on here . You said this is the beginning of the end. You were wrong. No. The beginning of the end pattern is taking place now with those kind of movements and the volatility index being positive on friday even though the market was, you know, ca came back the way it did. Im very concerned about the structure of the pattern of this market now compared to several times in history when it gets to that euphoric stage. So a topping pattern doesnt stop and spike down overnight. Were getting that pattern of exhaustion. We have very light volume at certain levels. I see thesec interrelationships between currencies, bonds and the market. It doesnt add up, stuart, im sorry. Stuart if i had takennen your advice, you were on the phone i wasnt telling people to sell, i was saying its the beginning of the end. Stuart if thats not a signal to sell, what is . Weve got the market plunging 300 points, youre on the phone saying i did not say sell. Stuart i know you didnt, but you know whats going on. Listen, i believe that this market is way over itself. Its just at levels that are unsustainable based on the way these other interrelated markets are trading. Stuart so you still think that this is the beginning of the long, slow slide i do. And we normally get these kind of moves at the end of this part of the stuart what are you telling investors to do . Surely, you must be telling them to sell. Well, im not telling them to sell, im stuart okay. Ive got microsoft. Are you telling me to sell microsoft . At a level you are uncomfortable with, you need an exit strategy. Im not telling you to sell. You need an exit. Now, where am i investing . You asked me that. Agriculture is going to become a problem in the next few years. Stuart our viewers do not buy wheat, soybean futures. They buy Companies Involved in those sectors. Stuart and youre buying thosec companies . Im nibbling at them, i havent gone fully in. Those are the areas id be looking for the next cycle. Stuart okay. If friday was not the beginning of the end, do you think well hit 25,000 . We could. We could hit 25,000 we could hit 23,000. Stuart ive got a problem with this, dan. I mean, ive been listening to you for a year, and in that year the dow jones average has gone up 30 . If i listened to you a year ago, ive lost all the gains that i did make. I have said you need exit strategies. I do not come on the air and say sell all your stocks. I say have an exit strategy. Stuart okay. So you still think, you still think were on the cusp of going down bigtime. Yes. I do believe were still in that stage of euphoria where its topping, and well eventually start to see the dribbledown effect over the next few years. Stuart all right, dan, thanks for being with us. Im glad to shout at you in mix. [laughter] i appreciate it. Stuart all right. Lets get back to tax reform. It move toss the Conference Committee moves to the Conference Committee, theyre trying to merge the bills. Joining us now is zane tankel, he runs, i think, 43 applebees. Not quite, but thats okay. Stuart you bun a chain of restaurants. We do. Stuart is this bill a real good deal for you in. Sure it is. Its still in formation, obviously, stuart. But on the overall, on the macro, anything that gives people more money in their pockets, as ive always said, incoming tide rises all boats. So the fact that and, by the way, its not an accident that chuck schumer, nancy pelosi i cant even say her name and these folks are saying, oh, its not good, its terrible, its going to pick peoples pockets because theyve never worked a day in their life. Hay dont know what it is. Very honestly, theyre professional politicians. They get their stipend from the federal government. So the reality is theyve never had to make make a payroll, compete in the marketplace, theyve never had to worry about tax reform one way or the other because theyre in a bubble. We, in the business community, we have to worry about a competitive set. We have to worry about our consumer, contrary to their voter theres a difference. Theyre pandering for a vote, im pandering to put more money in their pocket so that they can spend it in our restaurants. Were the sweet spot, casual dining as an industry, in the food business. The population is in the casual dinintc segment. Stuart yeah. What you desperately need is consumers with more money in their pockets so they might go out once or twice a month, Something Like that, extra exactly. Stuart to spend in applebees and other places. Exactly. If we gave them as small as 60 more, depending on your personal situation, children, income bracket, where you live, etc. , etc. , etc. , and how these folks can say, oh, its a travesty, its they should be arrested, very honestly, because theyre lying. Theyre out and out lying. None of them have read the tax proposal. In fact, thats their complaint, that they havent had time to read it. Tester stands up and says, can you read this . How can he demonize what he cant read . Stuart you know, youre not normally as fired up about this. Because i think its a travesty to justice. These people are elected to help them, not to band orer to the pander to the population. Theyre elected by the populace. And the reality is, stuart, that capital finds its most, its most fruition, its best return somewhere in the marketplace. And capital will always leave the country,reenter the country if its incentivized to do that. So being the highesttaxed country in the world incentivizes people to to leave and set up subsidiaries in other countries. Stuart i do have one bone to pick with you, and that is the Long Island Iced Tea sure. Do you live in long island . Stuart no, i dont. I have the wrong accent [laughter] thats why i was thrown out. In your restaurants youre selling them for 1. Vodka, rum, tequila, triple sec, anybody who drinks one of those things is inebriated. Well, not one. But you promised you wouldnt do this to me, and here you are stuart what about liability . The liability is on our part to monitor. Its no different than normal circumstances. We train our bartender ors, we call it the green zone, the orange zone, the red zone, to watch and see what their clientele on the other side of the bar are doing. Its real easy to cut them off after one, and its also real easy the kind of help them along, coffee or what have you. But the reality is the liability hasnt changed. We always havec it. It always scares the stuffing out of me, very honestly. [laughter] you know what stuffing is stuart i do. Its all stuffing. [laughter] it does concern me, i wont lie to you, but it always is a concern just like foodborne illness is always a concern. There are things that we have in our space that do keep me up at night. Stuart you know, youre animated on these subjects. I think well have you on more often. You have a tendency to do that to me. [laughter] stuart zane tankel, all right. Thanks for joining me. Big guest coming up soon, Kellyanne Conway, counselor to President Trump. What does she think about her boss being targeted, in a way, by abc news . We will ask her. Shes on the show at 11 30 this morning. Yeah, the markets way up. This is our story. Stay right there, theres much more varney ahead. Dows up 210. Stuart well, the military showing off s new war planes in a drill with south korea. The five days of simulated war drills involve bombers, fighters, thousands of troops. Pyongyang, the capital of north korea, they condemned it. They call it a prelude to nuclear war. This all comes less than a week after the nokos launched their most advanced launch missile to date. John bolton is the former u. S. Ambassador to the united nations, and he joins us now. Same old question, is it not the case that we have a choice to make . We can accept a Nuclear North Korea, or we can knock em out, and thats the choice. Is that it . I think thats essentially it. Barring some Dramatic Development from china in the wake of president s recent visit, we havent seen anything coming from china, we dont know whats going on behind the scenes, but absent dramatic action decide whether were going to live up to what the president said to his speech in the u. N. In september where he said denuclearization is the only way forward with north korea. They can either do it peacefully, which isnt going to happen, or we can use military force. Because the risk to the United States and our friends of a Nuclear North Korea outweighs the risks of a preemptive strike. Stuart does it start with us shooting down any and all missiles that they shoot out . I think that should go without saying. I think we have to decide, and it may be that were in the preparatory stages for an attack on their nuclear facilities, their Ballistic Missile facilities, suppressing their artillery knot of the Demilitarized Zone to try and prevent retaliation against innocent South Koreans in seoul. Its a very complex operation. Honestly, we should have done this years ago, but we are where we are. Stuart do you think this country wants appeasement . No, i dont think it does. And i think, lets face it, its not just north korea. North korea will sell their nuclear and Ballistic Missile technology to anybody with money; iran, terrorist groups, you name it. I dont think living with the threat is acceptable. Stuart okay. We just got word there is no brexit deal yet. Theresa mays been leading with the e. U. Commissioner, they just more consultation time. This is running into a brick wall, isnt it, this brexit, getting the brits out of the European Union. Well, i think it requires leadership from theresa may. I think her response is to say, fine, were prepared to crash out of this with no deal. Dont get 40 billion pounds as an exit payment. Youre going to get a border on between Northern Ireland and the republic of ireland and a lot of things you dont want. The only way to get the brussels bureaucrats of the European Union to wake up to reality is basically to say i dont care whether you agree or not, were out of here. Stuart does she have the political strength to say that . If she doesnt, i think its hard to see how shes going to remain Prime Minister much longer. The brits have voted to leave the European Union. They can either do it the right way, or they can screw it up, and theyre beginning to run out of time too. Stuart ambassador bolton, thanks for joining us. Politico magazine calling on Chelsea Clinton to run for the u. S. Senate in arkansas. That is if senator tom cotton heads to the cia. Politico says chelsea could benefit because she has the clinton name but does not have the baggagec of her parents. Chelsea is an arkansas native, but she hasnt lived there since she was 12. She nowlives in manhattan, new york city. Ten minutes away, well be joined by Kellyanne Conway. Brian ross of abc, shes fired up about that. And on friday right before the markets dropped, i promised to play you the clip of when a congressman handed me an American Flag through the television to congratulate me on becoming a citizen two years ago. After after the break, im going to keep my promise, and you will see that clip. [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 ah, nostalgia. Friday i wanted to share a memory with you, didnt get the chance because of breaking news. Look, just over two years ago i received a great gift from thenflorida congressman david jolly. I had just become an american citizen. Look at this. Stuart, celebrating your becoming a u. S. Citizen is a very special thing. Millions of people want to come to the United States, and so through the magic of television, i did have a flag flown over the United States capitol that we would like to present with you in coordination with your producer, so hopefully this reaches you at yourc desk. Stuart yes, and look at that, would you look at that . [laughter] amazing. [applause] that was magic. Stuart pure trickery. Its been a great two years. I feel like an american, and i feel like ive been here forever. I just cant lose the british act seven. Sorry about that. [laughter] all right, check this out, the implosion of an old football stadium near detroit didnt go as planned. It happened yesterday. Its the pontiac silverdome, the old home of the detroit lions. The smoke, when it cleared, the stadium had not gone down. Demolition Officials Say the blast did weaken the dome, it could still fall, but its not clear when it will happen. Dont go near it. [laughter] stuart did you get a look at the super moon last night . Its the only super moon of the year. This ones being called the frost moon because its the last full moon of the fall season. I looked at it, it was absolutely beautiful. Huge. [laughter] huge. Stuart huge. Look at this. In taiwan the worlds longestlasting rainbow. It appeared friday above taipei, nine hours continuously. The previous record was six hours for a rainbow this inc britain back in 199 4. Look at that. Stuart Emirates Airlines taking Luxury Travel to a whole new level. Its unveiling brand new cabins for the boeing 777 suites. The private suites, pulley enclosed, 40 square feet of personal space, floor to ceiling sliding doors, virtual hd windows, a pullout dining table, a 32inch h dtv screen with 2500 channels of ondemand entertainment, a full height wardrobe for happening clothes, plush pajamases and and our producers is not told me how much. Thats what i want to know. Well, they charge rent instead of stuart what is it . Depends where youre going. Oh, come on, producers. Youve got to tell us here. All right. But next up, Kellyanne Conway. [laughter] counselor to president presidenp joins us from the white house. The markets right now showing a 231point gape. What a day. Well gain. What a day. Well be back. Alerts wouldnt you like one from the market when it might be time to buy or sell . With fidelitys realtime analytics, youll get clear, actionable alerts about potential Investment Opportunities in real time. Fidelity. Open an account today. My experience with usaa has been excellent. They always refer to me as master sergeant. They really appreciate the military family, and it really shows. Weve got auto insurance, homeowners insurance. Had an accident with a vehicle, i actually called usaa before we called the police. Usaa was there handson very quick very prompt. I feel like were being handled as people that actually have a genuine need. Were the webber family and we are usaa members for life. Usaa, get your insurance quote today. Stuart well, one day two or 300, now we are up to 12. Overwhelmingly, it now stocks are up from the come on in, ron carson, leader of the courson group, favorite guest on this program after the recent appearance. I say this rally is all about tax reform, looks like we are definitely going to get it. My question to you is when do we hit 25,000 . First of all, it is all about tax reform and irony is that this stimulates is everybody thinks it could bring the fed is even more aggressively in 2018. It could be a slight negative in a shortterm, but i think its good we are getting Interest Rate to. We have things normalize and whether the market is 25,000 by yearend, its got pretty good momentum. A good chance that will happen. I just want to warn people weve had 11 months in a row, the s p has had a game. That is never happened before. Of course 12 would mean its never happened before. I see people just been a little too complacent out here and really not understanding right now theres a lot of great news out there in any bad news will cause volatility. A lot more volatility in 2018. Last time as i recall you suggested people put it in stoploss orders. If youve done well on microsoft, it is now at about 83 a share, as i am some of it, i think i asked you about it. You would put in 78, 79 and if it does come down, you are okay. You still say that or you still likely to see a decline like that . I think it always makes sense from especially 30 as i recall its something in your portfolio, if you are not going to reduce it now, put a stoploss in or go out, and another way of protecting your downside risk, but it always has made sense to really Pay Attention to your risk budget because it is Consumer Behavior that drives results. The market will do whatever it needs to prove a larger number of people wrong. Its not none and 35 years if you look at history, people at the wrong time and just be sure youre comfortable with more volatility because thats in the cards for 2018 and at the courson group would spend a lot of time talking and thinking about this in managing risk risk is the single most important thing our listeners and viewers can do to protect themselves. Stuart i take it then, you wouldnt touch bitcoin which has hit a new high of 11,500 bucks. You wouldnt touch it with a 10foot pole, or am i wrong . So my son turned me onto bitcoin in the very beginning. My son was an early investor in bitcoin in a sick to his stomach today because he thought that he made his money and that was good. As i gone into trying to understand crypto currency, i was just dumbfounded that anybody could try Something Like this. How could it possibly work . The more ive gotten into it, the more i realize i dont know if it is bitcoin, lot of different crypto currency, but i think its the future. Not only that, the smart contracts will change the way we do business around the world. Stuart that is a revolution. I wish we had time to discuss it but we dont. Maybe next time. Stuart maybe next time could we appreciate you. See you again soon. Clearly motivating the rally. Now to a Conference Committee joining us now, Kellyanne Conway to President Trump. Kellyanne, in my opinion, this is a huge win for President Trump for the democrats and ill just go through a list here, it is shameful, tearing down our democracy. It is a disgrace disgraceful it hurts working families. You want to answer that . Hardly. You know he did something right. Democrats have spent the entire year talking about russia instead about russia instead of american pain stock resistance now. What if they got to show for it . They can go home to their constituents and say that the businesses and corporations in their state are now going to have a 20 Corporate Tax rate. We know that was growth that will protect jobs and help give a pay raise to the hardworking men and women in a statement thank god for their constituents President Trump and Republican Senate tax package, tax bills is going to benefit everyone and not just the people represented by folks who supported it. He no shameful and disgraceful use their words . Do not be bipartisan. Why couldnt make it democrats to say it is high time the middleclass in this country got a tax break. Why couldnt i say we need to repay churchillian for dollars . Why couldnt i agree the tax code is too complex in its current form over 7000 words or 7000 pages in its current form it benefits the wealthy and good. The question for them is why did she stand in the way of tax relief of hardworking american who lives in your state because of petty partisan, but the market disagrees with them. Everything disagrees with democrats on this one. Market disagrees, record highs today. The new normal under donald trump as president. Another day, another stock market high. We are not yet tired of winning, everyone. Democratic senators and their ridiculous language about the tax bill that is help people in their state, Consumer Confidence numbers disagree. Many in congress at 90 now. All the Economic Indicators show that the tax cuts that just passed in the house come in the senate and the president will sign the final bill this year, stuart. Although leading indicators agree its a great deal. Stuart here is something that really upset us on this program because it happened during our show on friday. There was a fake report from brian ross at abc news, a fake report about michael flynn. The dow dropped 350 points. Now i know that President Trump has been tweeting about this. Get out there and sue abc because people lost money. Would you give us your take on abc and brian ross . Brian ross worked for me as a private employee for many years it would not be four weeks of unpaid suspension for it by making seven figures to lie on the air. It would be complete termination because hypothetically speaking what you said as he did in the markets and not because hes brian rossi talked about President Trump as the market mover here. The other thing it really shows the presumptive negativity and the hunger to get rid of the private of the president talk about russia coalition, russia russia appeared for the entire calendar year, by the Mainstream Media nonstop, and makes them jump to judgment. The question is tobacco to abcs legal team through their standards team. The Major Network and im sure theyre not feeling so great today. A lot of people in the Mainstream Media are upset with them for not pushing back and not double verifying that and the other reason is the media distrust the media now. They dont independently sourced things. They hear a report in its negative about the president , they go right for you. They like it, retweet, resale. That report when you were online here, that lived without clarification and retraction and suspension. Live for hours and hours. Before they get any action on it. People are losing their jobs like that these days for lots of reasons and the idea that this so far, hopefully there is an investigation. It wasnt just michael flynn. Just saying there is collusion as recently as saturday in over the weekend. Stuart Kellyanne Conway, thank you as always. Take care. Stuart judge Andrew Napolitano on the brian ross case. I know youve covered this two hours ago. President trump wants investors who were hurt, legal expression one thing to sue abc. Can they . Yes, they can, but i dont think the lawsuit would be successful. I think would be frivolous. There are many forces that cause the market to go up or down. It would be difficult to point to one up them. Brian ross under the law but does not have them prove whether its accurate incapability. He only has to prove that he did not knowingly utter a falsehood or that he was not reckless in his concern for truth or falsehood. We dont know what he did. We dont know where he got it from the day she met the standards coming is protected in abc is protected. Stuart surely come at abc this to happen. Checks and balances were not sufficient to prevent a story getting onair and losing investors, a great deal of money. Abc is therefore culpable. They did not take the steps required. Basically saying that the buyer beware. You are going to realize on a newscast for your Investment Decisions from a nonfinancial person. Stuart it did have that effect. A false report did have the effect of people losing money. Theres got to be culpability somewhere. When they were american, congratulations. Im still bitter i didnt get to administer the oath to you. Look, heres another practical reason why the court did not accept a case like this. They do not want to open up the floodgates. Thats why lost money. You told me this. He told me that. Stuart we are out of time at the floodgates are already open. Your receipt to see him make a statement and the stock goes down . They will sue him. This ceo is different. Stuart how interesting. I checked chipotle. They are changing their unpopular case of recipe after a lot of complaints. Twentyfour dollars. They are introducing matches. There you have it. Cbs agreed to bite him and 69 billion. Could be a game changer. We had toxic alumnus who is going to break it down in a moment. But because of Bassett Health care. Thats a pejorative. We will be back. I like the way you move the i like the way you move i like the way you move knowing that the most important goals are yours. Its how edward jones makes sense of investing. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call to save 500 off bath walls with your walkin bath, or visit kohlerwalkinbath. Com for more info. Starbucks from closing 77 for thinner property group. This has been something that we have seen. A lot of stores closing. 6400 have closed in the year 2017. Some are just Closing Stores overall. Radioshack, gymboree, just to name a few. Simon argued if they were to close prematurely, they would have to bring less worthy tenets. One real estate lawyer saying that is certainly not the way to go. Feel like 50 . How can i share new plans virtually . How can i download an efile . Virtual tours . Zipfile . Really big files . In seconds, not minutes. Just like that. Like everything. The answer is simple. Ill do what ive always done. Dream more, dream faster, and above all. Now, ill dream gig. Now more businesses, in more places, can afford to dream gig. Comcast, building americas largest gigspeed network. Drain to breaking news at the speed that the new york giants have fired their head coach, the imac to do. This decision to bench a light manning was widely criticized in the giants are a giants are a mere two and 10 this year. And now this. As you know, cbs cbs will buy the Health Insurer aetna with 69 million. Has the potential to reshape the health care industry. Dr. Mark sigler is with us, fox news correspondent. Forget that for a second. This is a good deal for consumers who need health care easily. Correct. No question about it. Cbs has 10,000 or theyre already doing urgent care. I call this the gap. You are waiting for your doctor. You need a strep throat check for an antibiotic filled. Cbs already has the Insurance Companies negotiating as email. For lower prices with this kind of a deal will lead to lower prices and decrease Health Care Costs and will give better access to my patients were urging care. Abatement could assume i can walk into the urgent care clinic in these places at cvs. I walk in, get fairly lowcost treatment. And it is covered if i buy aetna insurance. So it is a onestop fast food type delivery system, right . I absolutely love it. One word of caution and does not take the place of your primary care doctor. Get a sugar check for diabetes but i dont want diabetes manage there appear to want the urgent care part done but i dont want cut out entirely. Trade your doctors overwhelmed because of the medical insurance system weve got now . Huge problem. High deductibles, high premium. Busy documenting all day long. This will allow the gap to be filled. By the way, you know how many times some insurance doesnt cover a vaccine with medicare covering vaccine. Already going to pharmacies to get these vaccines. This will bring down the cost. This will decrease the overall cost of health care. Other Companies Come in and do this. You already have some examples of that. United health care, Cleveland Clinic together with oscar help from your favorite amazon is coming in the back door. This is happening because they plan to take over pharmacies. This will compete with amazon your favorite company. Stuart you like it. Im impressed with how well it does. Im extremely happy with this idea. This will fight obama turned away because obamacare has decrease quality of care. This will fill the gap. Stuart lets not tried on the primary care physicians does. Be careful but so far im in favor. Stuart chipmaker brought calm will take over rival qualcomm down at this point. Disney once again in talks with 21st century fox to purchase some 21st century of foxs assets. Disney is interesting most of most of the film and tv assets, but it doesnt includes fox news, Fox Broadcast Network or fox sports. Paypal says information on 126 million users may have been stolen in a breach of one of its companies down nearly 5. 5 . Xls, and the financial a basket of financial stocks allender etf rubric hitting a 10 year high on optimism about tax reform right now at nearly 2 . Up next, a quick break from politics. Weve got ric flair sequin robe, a photo signed by abraham lincoln. Tupac shakoors death certificate from the state of nevada. It is all in the senate. The big question theres an option coming. How much will they scratch . Will they be back . Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement insurance plans, they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. Youve learned that taking informed steps along the way really makes a difference later. Thats what it means to go long™. Call now and request this free decision guide. Its full of information on medicare and the range of aarp Medicare Supplement plans to choose from based on your needs and budget. All plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. Unitedhealthcare Insurance Company has over thirty Years Experience and the commitment to roll along with you, keeping you on course. So call now and discover how an aarp Medicare Supplement plan could go long™ for you. These are the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Stuart one of the great things about this job to see, touch and feel the items of Sports Memorabilia and historical memorabilia. A lot for you today, things that will go up for auction here in new york. Ken golden is back with us. Hes with golden options and boy does he have some stuff for us. Lets get through this. First of all, weve got ric flair scarlett road. How much . Actually weighs about 15 pounds. We expect that on many magazines to go about 40 to 50,000. Trade to ever take that in a hard read. Heres something interesting. 1950 ted back came signed and everything else. He signed his back, my personal favorite, meaning his personal best we also expect to go in that range. Unbelievable hitter. Stuart in my opinion its good for the price. 1999. World series ring. Assisted williams, hall of famer and he was a member of the yankees management staff in coaching staff. We expect this to go in the 30,000 to 40,000 range. Stuart really . Dozens produced every year. To make one per player and one for coach and manager. Stuart next is Shaquille Oneal used signed photo, lakers jersey firm shaq used in 1998. Thousand nba championship your jersey and not we expect to go in the range of 15,000 to 20,000. Tranters gigantic he was seven for one, 375 pounds. Hes probably 3d five now. Sorry, shot. Thats got to be a homeland jersey. The mac that is the largest jersey ever made baseball history. Rookie of the year he hit a homerun during his recordbreaking season. We expect that to approach 20,000. Trade to 20,000 . Hes a rookie. People say hes the next great name for the yankees. Ive got this one in my hands here. State of nevada for the death certificate to shakoor. It has all of this information, Social Security number on their period cause of death, multiple gunshot wounds. Stuart how much . To me tremendous go crazy. We sold for 176,000. This could go 50,000 plus. People are crazy. Stuart after 170 grand. Stuart next one. Tom cruise for the movie top gun. Is iconic movie that made him a major movie star. He only got paid a million dollars, so you know this we expect anywhere from 20,000 to 30,000. Stuart next case. This, a signed photograph from president lincoln. And this is great on a scale of one to 10. Very few of these in none of them in better condition. This we expect to approach 100,000 to all available for bidding at golden options. Com and the auction concludes on saturday, december 9th. Golden options. Com. You know i love you, stuart. Thank you very much for bringing interesting items. We appreciate it. 11 appearances. Thank you for having me. Stuart alright, everyone. I guarantee you, we are back in a moment. Stuart story of the day. Whatting great rally on wall street. Up 224 points as we speak. Second story of the day which i find completely inexplicable is chipotle. We are told that they are rearranging the menu for that stock there, the queso stuff. That not be a reasonc why chipotle is up 7 , 22. Higher. Give me the real reason. Liz Credit Suisse came out with a report they would benefit mightily from the lower Corporate Tax rates because they pay very high effective tax rate. That is partially ashley that means anytime you mess with cheese and get it wrong you are in trouble. Stuart im youre a fan of month at this python. Looked at cheese shop. Ashley classic. Liz blessed are the cheese makers. Ashley life of brian. Stuart im tap dancing to work up to neil who will say what the heck are they talking about. Seven seconds. What will you say on cheese . Neil nothing on cheese, but i was fascinated by the auction segment and the lincoln letter could go for as little as 100 grand. I would thought it would go a lot more. Stuart that is classic there. Is hardly in that condition. Only one hundred thousand dollars. Neil are you bidding . Stuart left it up to you. Neil talk to gaspo, he will hunt it down. Thank you very much, my friend. We have everyone on dow, i know what yourec saying, 25,000 watch. Forget by christmas. At rate were going we could do that next couple days. A lot has to do with getting tax cuts through in the senate. Two sides ironing out differences. There are not dramatically that