Transcripts For FBC Varney Company 20240714

And with utter disdain for the people whose lives they want to run. Good stuff. Thats a blast right at the elites. Thats the president s theme for 2020. They dont care about you but i do. In the last 24 hours, the president s campaign brought in a record 24. 8 million, almost entirely from small donations. In new york city, joe biden raised 20 million entirely from the elites. I think its time we got to the fed, shall we . Five hours from now the Interest Rate decision and more importantly, the outlook for rate cuts later this year. That arrives at 2 00 p. M. Eastern. We will also see if chairman powell responds to the intense pressure for a rate cut that hes getting from the president. A flat market in advance of that. The Interest Rate news from around the world this morning is grim. Not here, no, over there. In four European Countries and japan, things are so bad that when you buy a Government Bond, you dont get any interest. In fact, they keep some of your money. No wonder the money is coming over here in droves. I want to get to facebook. Maxine waters does not like their new libra Digital Currency. She chairs the Financial Services committee and she wants facebook to stop libras development. Lot of opposition from the regulators, and the stock which went up on the libra announcement is now moving lower, back to 187. Stay there, please. You are going to hear more from the president s speech in a moment and if you can stay with us, you will see Keith Hernandez. Hes kind of the trump of baseball. He speaks his mind. He does. Varney company is about to begin. Our economy is the envy of the world, perhaps the greatest economy weve had in the history of our country. Our radical democrat opponents are driven by hatred, prejudice and rage. They want to destroy our country as we know it. If i deleted one email like a love note to melania, its the electric chair for trump. Remember the only thing these corrupt politicians will understand is an earthquake at the ballot box. That is why tonight, i stand before you to officially launch my campaign for a second term as president of the United States. Stuart its official. The president at his Campaign Rally in orlando last night. Talking tough on immigration and a lot of other things, too. Now, heres how joe biden responded. It was in a tweet. Here it is. Lets be clear. President trump inherited a growing economy from the Obama Biden Administration and now hes in the process of squandering it. Okay. We will pass some judgment on that in a moment. Listen to what Bernie Sanders said. Roll that tape. We have a president who is a racist, who is a sexist, who is a homophobe, who is a xenophobe and he is a reoligious bigot. His strategy to win reelection is to divide the American People. Stuart that man on your screen, brad blakeman, former assistant to george w. Bush. What Bernie Sanders had to say there sounded a lot like Hillary Clinton and the deplorable speech. No doubt about it. Democrats havent learned their lesson. Its not enough to be against trump. Its not enough to be against anybody. You have to stand for something. What democrats stand for, the American People are not going to buy. We are not a socialist nation, we never will be. Its about earning what you are capable of doing and its about rising and using your abilities to the best of your ability. Stuart its also about the way they, as in they, the democrats and elites, think of us. I want to go back to this. He said, the president said our political opponents look down with hatred on our values. I think he just declared war on the leelites all over again. The average american is not an elitist. The average american is looking to raise their children and make a living. Thats what hes talking about. Because thats where the president has raised up in this economy. We are at full employment. Minority employment is through the roof. Women employment is through the roof. The president is delivering to everybody in this country. Stuart joe biden says the president is squandering the economy which he grew with obama. Well, i think biden yearns for the day when he could have his bad economy as this president has delivered for us. If this is a bad economy, i dont know what a good economy is because this economy is hitting on every cylinder. Stuart they are just making it up. Thats my personal opinion. Now, the other side of the coin is the recent polls. Which do not look good for President Trump. Earlier this week the fox poll showed that joe biden led the president by i think it was ten points. Then we had a michigan poll, biden leads trump again, double digits, i think 11 points there. Look at that. Then we have a quinnipiac poll from florida showing biden 50, trump 41. You know, you cant just dismiss all of this. How do you account for these terrible polls . I dismiss them. Heres why. National polls arent worth the paper they are written on because primaries are state by state events. Remember, trump doesnt have a primary. By the way, for the last two and a half years, the president has been beaten up by a mainstream media. Now we have 26 candidates, democrats beating him up every day. The president has not had the opportunity to get out there and campaign. You saw the rally last night. Joe biden cant fill up the mens room in a truck stop and you have President Trump, 20,000 some people and thousands who cant get in. When i looked at the polls last time with Hillary Clinton, trump had the same deficit. Dont trust National Polls this early in state by state primary events and eventually, National Polls will mean something. When . In that 90 days when we are running a general election. Stuart that was a little harsh. Couldnt fill up a mens room at a truck stop. Thats the truth. Bidens rallies are anemic at best. Stuart we will leave it at that. Thank you. All right. Ive got to move on to china trade because thats a huge issue. Which camera . Where are you . Youre there. All right. Got you. President trump will meet with xi jinping at the g20 summit later this month. In my opinion, xi has been brought to the table by his own domestic problems and pressure from President Trump. Lets see if gordon chang agrees with me. What do you say . I certainly agree. Right now, xi jinping is facing multiple crises. Hes got hong kong, of course, two Million People in the streets. Hes got the trade friction with the United States and a general issue, in beijing they are saying who lost america. Then theres the economy. The chinese economy from may looked like it was zero growth, maybe 1, maybe even negative 1. Its not just the economy thats a problem. Hes got the beginning of capital flight and hes got factories, foreign and chinese, leaving china. Hes got to deal with that all at the same time. Multiple problems. Hes never had to do that before. In the last five years hes just intimidated everyone to do what he wants. Now he cant do that anymore. Stuart but can he agree to stop stealing intellectual property, to stop the forced transfer of technology . Thats the big sticking issues. Im sure he can agree to ill take 200 billion worth of farm product from america. Im sure he can do that very easily but the intellectual property and stealing technology, thats not easy for him to agree to. Well, he can agree to it, Stuart Stuart and not do anything about it. He cant do anything about it. You got to remember, in the beginning of may, he withdrew these trade commitments across the board to the United States. I think the reason he did that was because he did make those commitments in april but he found out that he couldnt force the state enterprises to adhere. So hes not going to be able to tell the head of a Chinese Oil Company or whatever, stop stealing foreign technology. Thats just not going to happen. First of all, he doesnt want to stop stealing. Second of all, he doesnt have the power in chinas system to be able to force that through. Stuart heres what i think will happen at the meeting. There will be smiles, a handshake and an agreement to china to import a ton of american stuff, and a framework to keep talking. Would that satisfy mr. Trump . It would certainly satisfy xi jinping. Yeah, i dont know what the president would do. Im not sure that the chinese are going to make any Firm Commitments at the g20 at the end of this month. I think what they will do is agree to a new framework to talk and that can take months. But thats a victory for the United States. The reason is the longer this trade friction continues, the more factories leave china. The nikkei report that apple is planning to move 15 , 20 of its production out of china, thats significant. Stuart its a big deal. Gordon chang, thank you very much. See you again soon. Look at the markets. We are opening up in 20 minutes time. We will be up look, its a flat to slightly higher market in advance of the Federal Reserve declaration on rates. A massive cocaine bust in philadelphia. The fed seized more than 1 billion worth of the drug. We will tell you in a moment where that drug was headed. Its not for america. Sandy beaches in the Dominican Republic, lots of tourists every year but the unexplained deaths of several americans has a lot of people wondering if its safe to go there. We are on that story. President trump says i. C. E. , the immigration people, will start deporting millions of illegals. That was quite a warning shot, wasnt it . Former acting i. C. E. Director tom h oman is next on that. Varney company just getting started. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart house Financial Services chair Maxine Waters wants facebooks Digital Currency, the libra, delayed. Whats going on . Susan libra wont be introduced until next year but Maxine Waters says, given the companys troubled past, im requesting facebook agree the a moratorium on any Movement Forward on developing a crypto currency until congress and regulators have the opportunity to examine these issues and take action. Its a bipartisan issue because we also have the Top Republican on the house Financial Services committee, patrick mchenry, saying we may need more time to assess this new offering from facebook. Senator mark warner of course has chimed in, sherrod brown. This wont even be introduced until next year and is this necessarily a facebook issue because we have other bitcoin traders out there already. What about apple pay, very similar to what facebook wants to do. Whose purview does this come under, the ftc, the fed or the s. E. C. . There are so many questions still. It wont be introduced until 2020 so theres still some time to try to figure it out. Stuart but the opposition did pull the stock down after it had been on a tear. Susan its down half a percent in premarket. But it did rally yesterday. Stuart do you remember, im sure you do, when President Trump tweeted this about immigration. I will quote it for you. Next week, i. C. E. Will begin the process of removing the millions of illegal aliens who have found their way into the United States. They will be removed as fast as they come in. Mexico using their strong immigration laws is doing a very good job of stopping people. Joining us now, tom homan, former acting i. C. E. Director. Tom, i see that as a warning shot. Hey, watch out, im going to start doing this. Its not that hes going to be removing millions in the near future. Its a warning shot. Is that your reading, too . Hes saying that i. C. E. Is already doing a lot of this. Half of i. C. E. , you got 14,000 Law Enforcement officers, half those officers are called deportation officers because their job is to seek out those with orders. What the president is saying, we are going to do more of it. So yeah, will we move a Million People over the next couple months, no, but they will step up their efforts and show the Central Americans are coming up and claiming asylum, that we are a nation of laws and we are going to have integrity in our system. If you get ordered removed by a judge, you need to leave. Stuart do you have the resources to take people out . Well, look, i. C. E. Has 14,000 officers. Half are deportation officers but the other half are called special agents. They also have title 8 authority so they can make immigration arrests. There is Family Detention Centers and theres beds available that it can turn on. Of course, they will need funding from congress. Whether Congress Gives that to them or not. Look, these men and women are dedicated professionals. They will find a way to get this done. Again, it wont be as big as the president wants it to be right off but they can start stepping up the enforcement efforts. We talked about this on the show before. I did this in fy 15, looked for families and removed them and guess what, border numbers went down. Its way beyond time to do this. I have been talking about this for months. Im glad they are finally stepping up and doing it. Stuart last night, President Trump slammed the democrats for not supporting i. C. E. Lets have a look at that. The heroes of i. C. E. , Border Patrol and Law Enforcement generally throughout our country. And in the ultimate act of moral cowardice, not one democrat candidate for president , not a single one, has stood up to defend the incredible men and women of i. C. E. And Border Patrol. They dont have the character, the virtue, the spine to do it. Stuart tom, did you write that script . I really could very could have well. The president is right on the money. Every democrat running for president wants to abolish i. C. E. Rather than doing their job and fixing the immigration laws, they would much rather abolish a federal Law Enforcement agency that does a lot to protect this country. Hes right on the money. If i didnt write it, i wish i would have. Stuart i dont know whether you will answer this or not but im going to ask anyway. Put the man on camera. You know whats coming, tom. Are you going to be the next border czar . Well see. Ive had discussions on this and do i want to leave all this . Well see. Im a patriot at heart. I come back from retirement once. Will i come back a second time . Never say never. Stuart never say never. Thats the best answer ive had yet. Tom homan, thank you very much indeed. We hope to see you again real soon. Sure thing. Thanks for having me. Stuart have a look at futures in advance of the feds decision on Interest Rates and their outlook. We are just flat to slightly higher across the board. I got news for disney theme park fans. Watch out. They are raising prices. In a moment, we are going again, i should say. In a moment, we will tell you how much it costs to buy a premier annual pass. Weve got the very big number for you after this. Truecar is great for finding new cars. Youre smart, you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Stuart ive done my thing at disney many times over, and the price of entry keeps going up. Wait until you hear how much theyre going to charge, let me get it right, for a premier annual pass. Tell us. Susan 2100. Its an increase of 150. Why are they doing this . Because star wars is opening at Walt Disney World at the end of august. They think they can increase prices to hook you. You also get access to disneyland in california with this pass if you were so interested. Stuart 2,099 for a premier annual pass. In other words, i can go as often as i like in one year to any park. Lauren and parking is free. Susan do you skip the lines . Lauren thats a good question. I would hope so. Ashley you should dress up as mickey mouse for that amount of money. Stuart amazes me how they keep on raising prices and keep filling the parks. Susan 20 billion in revenue for disney theme parks in 2018. That was before the star wars. Thats open in disneyland as of may and this one coming to disney world so expect that number to go up even more. Theres interest. Theres demand. They are doing it because they can. Stuart but 20 billion worldwide, the tokyo park, hong kong park, the french park, both sides both our coasts, 20 billion in revenue. And disneys stock just hit a record high couple of days ago. Susan Fastest Growing revenue contributor. Now you know why. They are paying 2100. Stuart in economic terms that is the inelasticity of demand. You can put your price on and the demand is still there. Its inelastic. Ashley amazing in the world of egames and Everything Else they still want to go in and see. Lauren there are so many tieins between hollywood movies and the theme parks and all the gear you can buy. Stuart look at the stock price. Case closed. It works. Lauren the economy is doing just fine. In your case it wouldnt matter. There is always going to be demand for disney. Is what you are saying . Stuart right. Yes. Yes. Yes. I will agree to that. Five minutes, we open the market. We are going to be up ever so slightly. Look, this is fed day. Theres going to be a good deal of waiting around to see whether they cut rates today and how many times they might cut rates in the future. Thats what they are waiting for. Flat to slightly higher in advance of that. Well be back with the opening bell. In my line of work, i come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. That have made the rx crathe leading luxury suvogy so no one needs to know youve got gas. Of all time. Lease the 2019 rx 350 for 399 month for 36 months. Experience amazing at your lexus dealer. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Stuart all right. That there is capitol hill. Top trade guy Robert Lighthizer is going to be testifying before the house ways and means committee, i believe later on this morning. Look, hes testifying about trade. Whatever he says could move the market. This is a headlinedriven market and trade is particularly important. We will keep an eye on that hearing for you. Then theres this. Employee bonuses are down and the media is telling us thats because the tax cuts were a oneoff shot. Ashley that was a suggestion to say we have extra money, we are going to spread this around but maybe do a list of companies that were handing out bonuses, now they are handing out other types of incentives, including a big increase in worker benefits. So not strictly true that its a oneoff. Stuart the media will do anything. All they ever want is a tax increase. Here we go, 9 30 eastern time. We are off and running. We are up right from the getgo, 42 points higher for the dow industrials. 48. Any advance on that . No, were at 26,500. Thats pretty good. How about the s p in the very, very early going. Fractional gain there. Show me, please. Yes, fractional gain. How about the nasdaq. Big gain yesterday. How about this morning . Yeah. Up again, about a quarter percent on the nasdaq. Techs doing well. The tenyear treasury yield, 2. 08 this morning. Look at the price of gold. Theres a rocket arrived at basra, an oil terminal in the gulf, no impact. And oil, opec delayed its meeting for a week and oil is down to 53 per barrel. Price of gas, 2. 67, down 19 days in a row and im still waiting for 2. 50 by july 4th. Shah gilani is here, jack hough, susan li, Ashley Webster with us. Heres what i think is going to happen at the fed meeting. See if you agree. Im looking at you, shah. No rate cut today but they will signal two rate cuts in the future. What do you say . I dont agree. I think sure, there will be no cut today. No announcement today whatsoever. Its all going to be about Forward Guidance. I dont see the fed having any need, theres no necessity for them to forecast any rate cuts in future. I dont think they are going to go there. I think the market has probably baked some of that in and that they expect a rate cut or at least some Forward Guidance toward that and they may shake down a little bit here because i dont think we will see that. Susan goldman sachs, bank of america agrees with shah saying there is there are no rate cuts this year. In fact, its been i think markets have been overenthusiastic expecting one. Having said that, i would say futures are trading 85 probability we will get a cut in july. Stuart hold on a second. Jack, just for a second, no rate cut today and no signal of a rate cut for the rest of the year, i say the market if that happens, goes down. Stock market tanks. You need Strong Language today about the possibility of a future rate cut because as you say, thats priced into the market. The flipside of that is if the fed anticipates, they say hey, we are thinking about cutting rates at some future point, the whole name of the game is stimulus. You want to surprise people, why not do it today. I think theres a possibility of a binary outcome here. If they are going to surprise people, they want to surprise them big today. If theres no language, no cut and no new language coming out of this thing, the market tanks. Stuart who knows. We will find out between about 2 00 p. M. Eastern time this afternoon definitively. Got it. Facebook, is that stock up or down this morning . I think its down two bucks. Why . House Financial Services chair Maxine Waters wants the facebook Digital Currency, the libra, delayed. Its not down much, two bucks. Looks like the regulatory opposition to the libra is not that well susan it wont even be introduced until 2020 anyway. Maxine waters says hey, we will delay that and others on the Financial Services board says lets have an assessment and forum to discuss it but if they are going to regulate facebook, what about the others . Apple pay, bitcoin as well. Stuart i like it. I like the idea of an alternative currency with a i know youre laughing at me two and a half billion people on the platform, 90 million businesses. Whats wrong with that . For stock investors the name of the game with facebook, the fifth or sixth Largest Company in america and revenues are growing at 24 right now. We rarely have seen a company this big grow this fast. Ashley facebook has shown its incapable of protecting its users information, its data. When you start throwing in financial information, there is the concern. Stuart i dont think investors care about that. Ashley probably not. Stuart they care about future profits. The libra would add enormously to future profits. Susan and users as well. 2. 7 billion, grown since cambridge analytica. People have not been deleting facebook. Stuart last word . None of the companies that had data breach issues, stocks have suffered very much. Whatever is going to happen here i dont think its going to hurt the stock. Someones got my address, great. Someone wipes out my bank account, thats different. Stuart we will give you the last word and you did not move the market. Still down two bucks. Amazon is adding 15 boeing jets, freighters, actually, adding them to its fleet. Amazon is up five bucks. Boeing is up nearly two bucks at 375. Should fed ex and dhl and the others be worried . I think so. They should be worried. Amazon air is just going to grow. I think the plan is for 70 planes in a couple of years. They already have 40 large 767s. They will add to that part of their fleet. Yeah. I think fed ex and dhl, i think they should all be worried. At the end of the day, so should the other ecommerce and walmarts of the world. They are going to take over that space and make the cost of delivery for them nothing. Its going to be in the past when i have spoken with fred smith, chief of fed ex, he said amazon is never going to repeat what we do in terms of this vast Logistics Network but they dont have to. They can cherrypick profitable routes. Profits are growing, there are problems at fed ex. Stuart look at the big board. We are five minutes in and we have a 50point gain for the dow industrials. We are up across the board this morning but only a little. Apple, looking at moving, this is the nikkei, they are looking at moving up to 30 of their production out of china. Apple is getting close to 200 a share, not just on that news but they are close to 200. Cbs reportedly planning an offer for Sister Company viacom according to fox businesss charlie gasparino, our guy. The offer could be made in the coming weeks. Cbs down a fraction. Viacom up a fraction. Barnes noble reported before the bell this morning. Sales down but they lost less money. They are still down nine cents. There is bitcoin, 9,130 as of now. We can never forget about or rule out beyond meat. Look at it. Its down 1. 80 at this point. One of our market watchers said that there arent a lot of shares available. Thats what accounts for the wild swings. Do you own beyond meat . No. Its far too speculative at this point in terms of where the stock trades. I like the idea of the company but in terms of the stock, there are 60 million shares outstanding, a little over 38 million shares float. Those are the shares available to trade. Yesterday, the volume was over 23 million shares. So 23 million shares trading and only 38 million available to trade, this is whats happening every single day with this stock. Its been in the top ten of the nasdaq volume leader. It makes it very volatile. Ashley short sellers love that. Fake meat today is much better than the fake meat of the past. It still wont appeal to people who like meat. If you like fake meat, know who is well positioned to make it . Companies that make real meat like tyson who is getting into the business. They already have the delivery network, refrigerated trucks and so on. Susan i think short sellers have lost 600 million as they have been shorting this stock since the ipo. The stock rocketed past 200 at one point, we were up 700 from the ipo. I think they are still getting burned. They arent closing down the short positions either. Hard pressed to think this company is worth 10 billion. Stuart is that your final word . My final word. Stuart i want to look at disney. As we have reported, they are raising the price on the annual passes on the theme parks. Jack, didnt you speak recently to robert iger about the theme parks . About theme parks and the rest of the business. This is for our top ceos issue this week. Hes very pleased with the way things are going. This new star wars land thats opened in california and will soon open in florida. They actually had to restrict attendance in order to keep the crowds under control but they can see in terms of the Merchandise Sales and everything like that, that its going very well. Stuart doesnt matter what they do to prices. The demand is always there. For investors, disney is making what you would think would be a risky move in the move to streaming. They have derisked the move in their Television Business because profits in their parks and films are so large right now. Those have actually taken over from tv as the biggest earner for the company. Stuart thats disney for you. Look at lululemon. Susan look at it. Stuart this is an echo chamber. Look at lululemon. They are moving beyond their 100 yoga pants and gearing up to sell personal care products. Shampoo, deodorant, logical move, i guess. They are selling something called dry shampoo. Im not going to lie to you. I had to google it. Stuart you dont need it. You are looking at a man who washes his hair with a bar of soap. Im not exactly up on the dry shampoo. Its a thing. Look, they are selling 35 shampoo. They see a margin opportunity. Yeah, if you are selling shampoo for 35 bucks theres a margin opportunity. These are people into their looks. The shareholders seem to like it. Be careful about devaluing your brand by spreading yourself thin. Susan they sell 100 yoga pants, of course the dry shampoo will cost 35, face moisturizer 48. This companys stock has rocketed this year by 50 . Foot traffic up in the past quarter. Atleisure is back. They diversified their offerings and they seem to be back from those seethrough pants. Stuart i remember those. How much for deodorant . Susan it was 18. Stuart okay. Susan which im sure jack would pay for. I pay a dollar and a half. Stuart enough of this. 9 40 eastern time, sports fans. Thank you, jack. Thank you, shah. Good stuff indeed. Check the big board. Modest gain, we are up 50 points on the dow. Look at that level, 26,520. I think we are within 1 of the alltime high. Susan thats correct. Stuart getting close. A fox business programming note. Neil cavuto will interview jeffrey gundlach, the socalled bond king, at noon eastern on coast to coast. That is on today. New york will start issuing drivers licenses to illegals but even the lawmaker who sponsored the bill now admits it could lead to voter fraud. Oh, really. Weve got that figured out. Twotime world series champ Keith Hernandez, he joins us. Hes going to be in the studio talking facetoface to me. I want to know if hes watching the world cup and what does he think is more entertaining, baseball or soccer. We will talk about a lot of other things as well. Including the seinfeld clip. Speaking of the world cup, watch the team usa face off against sweden tomorrow at 3 00 eastern time on fox. By the way, its england against japan on fox today. Very important. It is important, mr. Producer. Well be right back. So with a nationwide annuity, you can get protected monthly income for the rest of your life. Thats what im talking about. How about those song lyrics . What song lyrics . Tell him again. Tell him again. Repeat it. Yeah, same thing. advisor so with a nationwide annuity, you can get protected. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Heannouncer more details incoming involving volkswagen and the growing scandal. Dissatisfied customers filing complaints against the german auto maker. Because a vision softly creeping left its seeds while i was sleeping and the vision that was planted in my brain still remains within the sound of silence in restless dreams i walked alone narrow streets of cobblestone when my eyes were stabbed by the flash of a neon light that split the night and touched the sound of silence stuart now the gain is 62 points, roughly a quarter of 1 . Pg e, california utility, they are going to pay 1 billion to local governments for that wildfire damage. That covers taxpayer losses because of those three wildfires in northern california. But that billion dollars is going to be paid for by juice consumer, electricity consumers in california. Thats the way it goes. House Financial Services chair Maxine Waters wants facebooks Digital Currency delayed, as we have told you this morning. Joining us is jeff landreau, attorney general of the state of louisiana. Do you want facebook to stop development of this new Digital Currency as Maxine Waters wants . Well, look, certainly i have the same concerns. The interesting thing about all of the controversy around big tech is that you really are seeing bipartisan concern, people on both sides of the aisle are having concerns about the way that big tech is operating. I read the story like Many Americans over the last couple of days, i think it was yesterday when i read basically when facebook was in a rollout of this currency and the first thing that came to mind is this is concerning. Stuart well, do you want the operations like facebook to change their Business Model . I mean, at the moment, i get on to facebook, i communicate with everybody for free. In return, they get my information. Would you like to break that business relationship, break that Business Model . Well, the question is, is it free. That is the Million Dollar question that we are all asking and the concern that many attorney generals around the country are having. Is it actually free. Are you getting something for free or the information and data they are mining off of you, what is the monetization of that. So is what youre getting equal to what youre giving. Again, thats the ultimate question. One of the big concerns stuart how do you answer that question . Mr. Attorney general, answer that question. Are you getting an equivalent to what youre giving . Would you answer that question . Yeah, i believe no. I believe absolutely not. I dont believe that the consumer out there is receiving equal benefit for what big tech is mining off of them. Thats part of the frustration and part of the obstacles out there is educating the consumer and ensuring that the data they are giving big tech is equal, that there is a quid pro quo. Stuart do you think it will ever really change . I mean, they take your information, they use it, they sell it, and you get stuff in return. You ever think thats really going to change . Well, is the stuff equal to what theyre taking and do people actually understand what theyre mining off of them. Look, i walk around each and every day, i bump into consumers, people are troubled by the fact they might Say Something in their home, even near their smartphone or near alexa or one of the other listening devices, and then they pull up their phone or their pc and if theyre talking about, you know, a pair of shoes, pair of shoes end up being advertised on a particular browser theyre looking. It gives me concerns, how is that happening, why is that happening, what else is big tech gathering from me . Stuart mr. Landry, jeff landry, Louisiana Attorney general, thanks for coming back on the show. Its a complicated subject but i want to get to grips with it and you are helping us. Thanks very much, mr. Attorney general. Thank you. Stuart how about this one. A new law in new york state gives drivers licenses to illegals. Theres a loophole in the law that could lead, could, to voter fraud. Susan all you need is government i. D. To vote. There is a box that asks you if youre eligible to vote but thats an honor system and this is after new york state passed the green light bill on monday night. Govern jor cuomo signed it, pasd the senate, basically it gives illegals a voter i. D. , a drivers license which allows them to use it as i. D. And take flights as well. However, as you know in new york state, if you provide any sort of government i. D. Which is usually a drivers license, you can, you know, step into a voting booth. Now, whether or not its legal or eligible, thats a different case. Stuart look, it is not susan they are not going to go through each and every vote when theres hundreds of thousands, millions to count, right . Stuart you show up at the voting booth, flash the official drivers license and walk in. I get it. Will it be challenged . Ashley the honor system . They are in the country illegally. What kind of honor are they going to have . Stuart its called lining up democrat votes, in my personal opinion. Check the market, please. We are 18 minutes into the trading session and we are up 40 points. More than half of the dow 30 are in the green. People on the east coast may want to think twice before taking a swim in the ocean this summer. Doctors say, wait for it, theres a dangerous flesheating bacteria and its on the rise. Ashley great. Stuart we will deal with that, right after this. This is the durabed of the all new chevy silverado. It looks real sturdy. The bed is huge. It has available led cargo area lighting. Lights up the entire bed. It even offers a built in 120 volt outlet. Wow. Plug that in for me. Whoa holy smokes oh wow and the all new silverado has more trim levels than any other pickup. Whoa oh wow very cool. Theres something for all of us. Absolutely. Its time to upgrade. laughter has been excellent. They really appreciate the military family and it really shows. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. It was funny because when we would call another Insurance Company, hey would say oh we cant beat usaa were the webber family. Were the tenneys were the hayles, and were usaa members for life. Get your usaa Auto Insurance quote today. The latest inisnt just a store. Ty its a save more with a new kind of Wireless Network store. Its a look what your wifi can do now store. A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Stuart at least Nine Americans have died in the Dominican Republic just over the past year. Lots of questions about what happened here. Doc siegel is with us. Doctor, lot of people have asked me, should i cancel my Dominican Republic vacation. What would you say . Well, im not a travel agent. Stuart no, youre not. But what happened . This is raising eyebrows. I think the Dominican Republic has to come up with some answers. Nine people, two more announced in the last week from june, in their 50s, sudden death, respiratory failure in several of the cases, couple of the cases said they had just drank from the mini bar. Theres been 105 homicides in the Dominican Republic of americans from 2002 to 2017. State department rates Dominican Republic as a level 2 in terms of safety, meaning there is violence there, there are gangs there, there is assault there. But its level 2, it aint level 4. Level 4 is the worst which is basically warning, warning, warning. They might raise it to level 3 over this. I think we have to have explanations. You know what really puzzles me . Stuart, you could say Natural Causes all you want but why does a couple die simultaneously in a room . How does that happen . And the woman drinking from a bar, and i looked at her autopsy and that right coronary lesion doesnt do it for me. Im not convinced this was a sudden heart attack in a 41yearold. I do wonder whether there could be poison involved. I want to see these toxicology reports. They do shabby autopsies down there. The fbi is now involved but we dont have answers. We need answers before i can tell you how safe it is. Meantime, think about hawaii. Or florida. Stuart whats this about a dangerous flesheating bacteria on the rise at some popular east coast beaches . That sounds sensational, flesheating bacteria. Should we be scared . Certainly does. Stuart how many cases . 205 cases a year in the United States. Now theyve got five in the northeast. They usually dont see it up here. Waters been a little warmer up here than before. Heres the takehome. It has to do with uncooked seafood. So really, if you want to take this seriously, especially in the south, you dont go into the water with open wounds and you dont eat uncooked seafood. One of the guys who got this was handling seafood and im talking about, you know, lobster and crayfish, crab. He was a crabber and he was handling it, of course its uncooked. He was taking it out of the water. So the answer to your question is its pretty sensationalistic. Chances of you getting this is very, very low. I still say dont go into the water with wounds. By the way, we can treat it. If we catch it early, we can treat it. Theres antibiotics that work. We could save your life. You start off with gi symptoms, then you get these terrible wounds. I dont want to be too graphic. Stuart please dont. We can save your life. But its small, small, small numbers. Stuart what i would say is dont go in the water with a wound. Dont go in the water with a wound. Dont eat uncooked seafood. Stuart well, no sushi . Susan yeah. Not talking about sushi. Im talking about lobster and shrimp. Im talking about the bottom dwellers. Stuart define your terms. I believe thats called trace, is it not . Dont eat uncooked shellfish. Susan there you go. Stuart there you go. Thank you very much indeed. Good to be here. Stuart sensational. All right. The feds, they want colleges to implement mandatory financial literary courses for all students. Very interesting. Do you really want, say, Overland College teaching Financial Literacy . I have to ask. Were on it. President trump kicked off his 2020 campaign in an arena full of very enthusiastic supporters. Yes, he did. Compare that to joe bidens opening campaign. He opened with a threeminute video. Something of a contrast, id say. My take on that is next. Looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with td ameritrade. There are roadside attractions. And then theres our worldfamous onroad attraction. The 2019 glc. Lease the glc 300 suv for just 459 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Stuart oh, it was a very sharp contrast. President trump kicked off the 2020 Campaign Last night in front of 20,000 very eager supporters. Joe biden opened his campaign with a three minute video. The president and leading contender, radically different in style, tone, yes, policy. Donald trump is a president like no other and that difference was on full display in orlando. He engages the crowd. He warms to them. They feed off him. It is electric. It is dynamic. He has life and energy and he speaks directly to middle america. For me this was the key moment, he said, im quoting now. Our political opponents look down with hatred on our values and with utter disdain for the people whose lives they want to run. Oh, that summed it up. He called out the elites. With that line President Trump threw down the gauntlet and exposed the elites to the judgment that they deserve. Our social superiors will brush off the immigration chaos and call us names. Trump wont. He will do something about it. They, the elites, play down terrorism. They dont to talk about. Trump confronts it home and abroad. Elites want you to suffer in the name of climate activism. Trump took us out of the ruinous paris accord. They look down on us. They do. They think they are better than us. Bernie sanders came right out with it. The president he says is a racist, sexist, xenophobic religious big got. That reminds me of Hillary Clinton disasterous, deplorable speech. Joe biden, his response. Classic elitism. He tweeted that the president was squandering the economic gains which he says started with the Obamabiden Administration. Squandering . Are you kidding . Theyre just making it up. So the battle lines have now been clearly drawn. It is us, trump, versus the elites, bernie, joe, and all. America as a good place, versus america as a bad place. Same as 16. I will leave it at that. The second hour of Varney Company is about to begin. Our political opponents look down with hatred on our values and utter disdain for the people whose lives they want to run. A vote for any democrat in 2020, is a vote for the rise of radical socialism and the destruction of the american dream. We begin our campaign with the best record, the best results, the best agenda, and the only positive vision for our countrys future. Stuart we thought we would let the president speak for himself and he did at his reelection kickoff last night in orlando. Lets get straight at it. Liz peek with us, foxnews. Com columnist. Liz, you heard what i had to say. I did. Stuart it is trump versus the elites. Where am i going wrong . Our not going wrong. That is what will drive this campaign. What is amazing to me democrats continue to call out trump not realizing maybe that Trump Supporters recognize theyre also calling out them for being racist, misogynous and xenophobic, et cetera. It is exactly like the deplorable comment. What we saw last night was Incredible Energy and passion and commitment that this president brings to this campaign. You contrast that as you already have done with Vice President biden hasnt appeared with any of his peers, who next week will take the stage a crowded stage with nine other democrats, all wanting the nomination and he is going to look weak and pandering and, uncommitted to the things that progressive want to see in their candidate. I think it is a startling comparison, compared with last night the energy wont be there, the commitment wont be there, he will be pushed by moderators to be extreme on all the things you talked about, on abortion, on climate, joe biden isnt extreme. Here is the final thought on this. Im really on a roll here. Joe bidens main thing he, everybody thinks he is the person can beat donald trump if voters see im not sure a faceoff between these two will work out the way we want, what does biden have to offer . Stuart let me ask you an honest question, difficult question, do you think joe biden has the energy to see it all the way through to november 2020 . I really dont. If i were he, there already have been comments to that effect, he is a little tired, a little old, forgive me, but he is looking like that, how could his campaign not have him out there every day . I mean, if you want to counter that message, be aggressive, show up everywhere. Dont, i mean all these forums where biden has been a noshow has allowed his competitors to make headway. Elizabeth warren is eating his lunch right now. He started out at 41 in the beginning of may. Down to 34 now. That is only going to continue. I dont think joe biden is the candidate, i think, by the way the other thing that will kill him, he raised half a Million Dollars, a recordsetting amount at a wall street fundraiser last night or two nights ago. That is not going play well on the democratic side. I mean Elizabeth Warren wont take any money from the big fundraisers. Bernie sanders thinks it is a sinful thing to do. All the progressive voters in the primaries they say he is cozying up to wall street. What could be worse . Stuart this one, i want to listen to some media comment and their reaction to the president s speech last night. Roll a series of tapes, please. Shows no desire whatsoever to try and actually seize this moment to do something different. He is like a record who is stuck on the same groove. It was a very dark speech. Trump is beginning his Reelection Campaign with threats. We need to see the disconnect between a rally like tonight and reality. Meet the new trump. Same as the old trump. Slamming his adversaries including Hillary Clinton. You could probably see his speechwriters holding their head in their hands, oh, my god, just read the prompter. Stuart i dont know if that does much for ratings. That was the nasty, sarcastic comments. What is darker, saying the country is in such trouble, everything we know persisted in for centuries is need to be overturn and or saying our country is great and doing things historically to make ourself a beacon for everyone around the world. That to me is a positive message. That is trumps message. Guess what, a lot of people voted for that before. I think they will again. Stuart really were on a roll. You really were. It was fun. You know that is what the left doesnt get also. Those rallies are fun. People love going to those, hearing him. Stuart all those media people, did you see a single smile. Theyre so dour. Stuart they have no sense of humor whatsoever. You know what . They really dont. If you have ever been to a trump speech, he is funny and also sometimes believe it or not selfdeprecating which they will never report on that. Stuart wait a minute . He can do that believe it or not. Stuart youre still on a roll. Sorry about that. Stuart great performance, liz. Thank you very much indeed. Lets get serious. Talk about money. The market shows a modest gain ahead of the fed decision this afternoon. Brad mcmillan, Commonwealth Financial Network guy, studies the market, studies money. Look not towards the fed first. Look towards xi jinping, donald trump meeting, 10 days away maybe, Something Like that. I think that what were going to get is a smile and a handshake. I dont know about the substance of a deal. I think that is what were going to get. I think that is what the market is looking for. What do you say . I completely agree, stuart. Smile and a handshake. We might get more than that. What has been teased is this meeting that why would they be teasing . Yes were talking. Yes this is going to happen. What great optics and great visual to come back with a deal from that. So i think, youre right, that is a minimum. I wouldnt rule out something more. Stuart but this market depends on that, doesnt it . If you dont get any of that, what happens to the market . Im guessing it goes down, doesnt it . It would go down. There are positive expectations built in with xi xinpingtrump meeting. With the fed this afternoon. There is a lot of good things built in. Think about what youre saying. There are good expectations built in, but the fundamentals are also pretty solid. The economy continues to do better. That is what people will remember eventually. Stuart youre right. The bottom line for stock prices is essentially profitability from americas corporations. In a growing economy, profits should grow. That is what you should be talking about here. That is exactly what im talking about. Job growth, we had a tough last month but year on year were doing incredibly well. If you look at Consumer Spending that has ticked back up. If you look at Consumer Confidence, it is extremely positive. Over 70 of the economy will continue to do very well. That is not what is getting priced into market when they pull back. Stuart my opinion is that this afternoon there will be no rate cut now but maybe the fed will signal two rate cuts later this year. Where am i going wrong . Totally agree with you on the no rate cut. The reason things are pretty good as we just said. So there is need for the fed to back off. There is no need for them to put bullet into the economy they dont need to. They will hold their fire. They will keep their powder dry. They will say, because things are actually good. Stuart what about guidance for the future. Do you think chairman powell has to retreat from rate cuts because he doesnt want to look like he is bowing to pressure from the president . You think that might happen . I think there is certainly some perception there. I think it makes it harder for the fed to signal, even if they want to. For the fact they dont really have to in my opinion, also the fact they dont want to be perceived yielding to pressure, i think they sit tight, do it with commentary later on. Stuart lets see what the market does about that. Brad mcmillan, thank you very much. We told you huge, i mean huge crowds at the president s rally in orlando last night. Is he doing enough to appeal to young voters . Good question. Next up we have chairman of the young republican with us. Will millenials vote for trump. Lawmakers set to pass a green new deal, one of the nations most aggressive climate plans. We want to know how much will it cost . And how many people will leave because of it . This is the second hour of Varney Company. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Stuart modest gain on fed day. Wait until 2 00 if theyre cutting rates. 2 30 if they cut rates in the future. Well see. Lululemon, the yoga pants people, you know that they may sell a line of personal care products, shampoo. How about 18 a pop deodorant . That is the price from lululemon. The stock barely budged. The president called out democrats at the big rally. Watch this. This election is about you, about your family, your future and the fate of your country. We begin our campaign with the best record, the best results, the best agenda and the only positive vision for our countrys future. Stuart kind of spelled it out, didnt he . Joining us now, jason emmett, Young Republican National federation chair. You have a tough job on your hands but tell me this, what did the president say last night that would get millenials to vote for him . First off, stuart, thank you for having me. Stuart youre welcome. Honor to be with you here in studio. President trump really spoke to the nation, with that the millenials are largest voting block, they have a president fighting for them. He is fighting for putting americans first. Stuart what did he say specifically towards millenials . You have opposition, democrats saying free college, wipe out student debt. That is what theyre saying. That is appealing to millenials. What did the president say that will get them to vote for them . Youre absolutely right. Democrat problem is everything. With that comes is more government. What campaign has been about, what the launch last night was about, personal responsibility, individual liberty, Less Government more freedom. Stuart how does that go down . When i was that age, im not so sure i would want really personal responsibility pinned on me, thank you very much. This is the most independent generation, everybody is glued to their phones. Everybody is out to seek their own personal selfworth or value but this is a generation that values individual freedom. I think that is a message that republicans can gear up towards. That is a message that President Trump has reiterated time and time again. Look, we have a, we have a tough job to reach millenials. My generation, but we also are not leaving the way we should be and millenials in congress from our side of the party who are the tip of the spear putting forth best policies right now that our country and party has. Matt gaetz, josh hawley, these are millenials, young republicans. Stuart those are all millenials . They are . I thought they were older than that. They should be out front representing you guys as millenials. Let me ask you this. The Treasury Department, im sure youre aware of this, im sure have something to say about this, Treasury Department recommends mandatory financial courses for College Students that worries me. Im adjunct professor. I taught at university level, i teach at law school. Im against any type of government mandatory program. Honestly stuart, i find quite ironic, a government 22 trillion in debt will mandate Financial Literacy classes on a problem they created through student loans. It is a very funny program to me. Stuart take oberlin college, for example, uber liberal, i really wouldnt trust them to teach finance because they are opposed to finance. They hate capital. I just dont trust that. I dont know any university that is able to teach finance in any way meaningful from how they spend. Tuition costs are up almost 300 over last 40 years. Colleges are not equipped to teach Financial Literacy. They need to be the ones taking Financial Literacy courses. Stuart that is a good one, jason, good answer. I will remember that. Chair of the young republicans can i put it like that. Chair of young republicans. Stuart how old do you have to be . You might be out of our age group. 18 to 40 years old. We target ourselves to the young professional auxiliary of republican party. Were an official organization. We look forward to engaging more with millenials next cycle. Stuart 18 to 40. Jason, thank you very much, sir, appreciate it. Twotime world champ Keith Hernandez is on the show today in our next hour by the way. I want to talk to him about the seinfeld insewed, remember that one . The cameo is talked about all these years later. Is he getting any financial royalties . This is financial program. Were dealing with Microsoft Xbox launch, launching videogame streaming service, netflix for videogames. That is what it is all about. We have a great story for you, next. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. When it comes to type 2 diabetes, are you thinking about your heart . Well, im managing my a1c, so i should be all set. Right. Actually, youre still at risk for a fatal heart attack or stroke. Even if im taking heart medicine, like statins or blood thinners . Yep thats why i asked my doctor what else i could do. She told me about jardiance. Thats right. Jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known Heart Disease. Thats why the American Diabetes association recommends the active ingredient in jardiance. And it lowers a1c . Yeah with diet and exercise. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening, bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, what do you think . Now i feel i can do more to go beyond lowering a1c. Ask your doctor about jardiance today. The exus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. Stuart the gain is still pretty much the same. 40 point up on the fed day. The market may change course of course this afternoon around 2 00 to 2 30. With we get results of the fed meeting. Of the price of oil this morning back to 53 a barrel. Just moments from now we get latest news on how much oil we america have in storage. That could move the market. We shall see. President trump, here we go, tweeting, here it is. The dems are very unhappy with the mueller report. So after almost three years they want to redo or do over. This is extreme president ial harrassment. They gave crooked hillarys people complete immunity. Yet now they bring back hope hicks. Why arent the dems looking at 33,000 emails that hillary and her lawyer deleted and acid washed getting a subpoena from congress . That is real obstruction the dems want no part of. Their hearings are rigged, and a disgrace to our country. Tell us how you feel, mr. President. We got that one. Microsoft unveiling plans for new service on its xbox videogame console. It is called scarlet. Hold on a second, ashley. I dont pretend to understand this. Ashley no. Stuart im told it would be like a netflix for video games. Ashley correct. Xbox right now has a library system. You pay the game pass. You actually download games from the library but under the netflix system you get a streaming service. You dont download it, access completely through streaming which is a big development. It is interesting that someone like xbox is trying to take on others. We dont know how much the subscription would be based, would cost but i think it makes sense because susan like twitch which is owned by amazon. Gaming service where you constantly watch games. Stuart you pay for twitch . Susan yes. Ashley subscriptionbased. Stuart it is a good idea. Everybody streams everything these days. Lawmakers in new york state agreed on what is being called an historic climate change. Susan ambitious. They want to eliminate net Greenhouse Gas emissions by 2050, eliminate. Now they want to reduce it by 85 by 2050 from 1990 levels. From 1990 so far how much weve done . Stuart how much. Susan 8 , 8 from the last is a years. If you want to get to net zero emissions by 2050 they have a lot of work. It comes with a big price tag. 40,000 manufacturing jobs would be gone. 400 million in this fiscal year switching over plans. Ashley china and india carry on, totally unfazed. Stuart no problem whatsoever. We dont know how many people will leave new york state when the draconian regulations are imposed. I expect there will be an exodus. Susan yep. Stuart thank you, susan. Joe biden taking a bite at President Trump. He says trump is squandering the economy he inherited from the Obama Administration. Well take that one apart, believe me. Nine americans have now died while on vacation in the Dominican Republic. Is there any Legal Recourse for their families . Good question. Judge napolitano is coming up to answer it. Hey, who are you . Oh, hey jeff, im a car thief. What . im here to steal your car because, well, thats my job. What . What . . What . laughing what . . What . what . [crash] what . haha, it happens. And if youve got cutrate car insurance, paying for this could feel like getting robbed twice. So get allstate. And be better protected from mayhem. Like me. Heannouncer more details incoming involving volkswagen and the growing scandal. Dissatisfied customers filing complaints against the german auto maker. Because a vision softly creeping left its seeds while i was sleeping and the vision that was planted in my brain still remains within the sound of silence in restless dreams i walked alone narrow streets of cobblestone when my eyes were stabbed by the flash of a neon light that split the night and touched the sound of silence baby you can drive my car stuart please. Must we constantly return to kiddie pop . Susan i dont understand, what is the problem . Stuart this is song you would love. Susan i know it too. Im very happy. Stuart baby you can drive my car. Were holding on to modest gain at the moment. 40 point up for the dow, 26,500. Have we got numbers on oil . How much oil have we in storage . Ashley we do, we do. A drawdown of 3. 1 Million Barrels. The forecast was just over a Million Barrels. Were using more than expected. Should put some downward pressure, upward pressure rather because we have less to use, were only up 25 cents. Stuart wee were down below 54. 54. 16 is the price of Oil Following this report. This happening too. The robert light iser testifying on capitol hill, he said and said this morning if there is no trade deal with china, they will come up with another way to help Industries Hurt by chinas retalltation. He also said he will talk on the phone with his chinese counterpart next day or so. A meeting will follow ahead of the president s meeting with xi at the g20. That has not had any impact on market. Were still up 40 points. I think the fed meeting is of greater import there. Go back to my opinion here. I think money is pouring into the United States. America, when it comes to money is the only game in town. We have this for you this morning, in japan, four European Countries, if you buy a Government Bond there, you dont get all your money back, they keep some of it, no interest whatsoever. They keep some of your money. What a rotten deal. Jays jason capps, you know about many so of this stuff, dont you. When i say money, america is the only game in town . What do you say . I agree with you. For variety of reasons king dollar and the u. S. Is the destination of money around the world. Number one, as you point out with negative Interest Rates in germany but other countries money is seeking the path of least resistance where theyre getting safety and higher yield. Speaking of safety, whether uncertainty in financial hubs like hong kong or brexit in the uk, if youre a money manager there, youre looking for a place not only to get a return on your money, get your money back, where better to look than the United States . Stuart am i right . Im making a bold statement, money is you are pouring into the United States. I think we can see that with treasury bonds, safety and yield. But am i right about the stock market or any other assets like real estate, for example . Is the money pouring in . I dont know if it is flooding in, but certainly the flow is in our direction. You point out, it is a variety of asset classes. You have foreigners around the world, looking for safe havens, not only risk assets like equities but real estate, places like here in new york. Stuart i want to ask you about joe bidens tweet. Im not going to get into politics. This is still economics. This is a tweet he put out after the president s speech last night. Here we go. Lets be clear, President Trump inherited a growing economy from the Obamabiden Administration and now he is in the process of squandering it. Again this is not a political question. I want to know how you can justify that statement that President Trump is squandering the economy. I cant back that up. Can you . Youre a few innings into the game. Hard to justify that. Clearly joe wants to polish off some of the good from his Previous Administration. Economy did grow, unemployment did shrink, but since trump has taken the helm, undeniable, were 50year low unemployment. Wayne growth especially for lower earnings is growing at fastest clip in a decade. Well see how trade materializes, but with 3 gdp print, things are moving along very well here. Stuart you manage the money of wealthy people, that is what you do, isnt it . That is basically you, private wealth management, jason katz. Does the election 2020 factor at all in your strategy Going Forward . Of course it does, depending on out come dictates variety of industries how it affects the sectors. There is talk of health care for all, how that affects the health care industry. Rolling back tax reform. Rolling back some of the deregulation. Were very mindful of that. We try not to, you know, get too ahead of ourselves. People that invest in us do so in context after financial plan, custom Asset Allocation and on the margin were making tactical tweaks underweights and overweights based on politics and a variety of other factors. Stuart you wouldnt want to see a socialist in the white house, put it like that . I dont think any american would for that matter. Stuart oh, youre getting political. Youre on dangerous ground here . You dont think any american wants to see a socialist in the white house . Bold statement young man. Well you have to watch what you wish for. Maybe some want that but we see what happens in venezuela and elsewhere when those types of policies take hold. Stuart wow, ubs, putting your foot in the political waters here, lad, on dangerous ground. You tempted me. Stuart i know i did. Jason katz, youre all right. Thank you very much indeed. My pleasure as always. Stuart thanks, sir. Apple is quite a story. Comes from a japanese news service. Panel reportedly looking moving 15, 30 of its production out of china. Susan because of the ongoing u. S. China trade dispute. According to nikkei news, theyre looking to suppliers foxconn and evaluating options. Foxconn said they could move all the u. S. Iphone production outside of china. According to the nikkei news the most favored places where to move the production to, mostly southeast asia. Mexico is part of this. Vietnam, mexico, indonesia, malasia, india. Wedbush says maybe five to 7 of iphone production could moved to india. They produce intypically the lower cost independent phones. Apple is investing in the country. They dont sell a lot of iphones in india. Bloomberg did very interesting study. Bloomberg said out of 217 million iphones sold last year in their analysis, 90 million of units were manufactured outside of china already. Stuart all right . Really . China manufactures over 50 . I guess 45 already outside of china. Stuart lets not forget, tim cook was at the white house, spoke to the president of the United States. I believe last week or maybe earlier this week. There was a conversation. Susan theyre investing a lot into the u. S. 35 billion over the next decade. Stuart they said it wouldnt happen. It looks like it is. Billionaire and cofounder of the blackstone group, his name is Stephen Schwartz man, he giving a big gift to university of oxford. Oxford university in england. Ashley 188 million. Where does he want the money to go . The ethical adoption of artificial intelligence. He said this gift will create an ethical framework at Oxford University so the rollout of ai over the next five to 10 years will limit disorder to society. He is worried about mass unemployment, disruptions from these technologies. He wants Oxford University to take the money, create a center, look at ethical adoption of artificial intelligence. Two years ago he gave 350 million to mit. To create a computing, focused on development of ai. That is an issue very important to him. Stuart a lot of money. Ashley largest donation to Oxford University since the renaissance. A long time ago. Susan paulson, Hedge Fund Manager donated a quarter of a million to harvard. Ashley still a lot of money. Stuart a lot of money. I do own some stock in blackstone, full disclosure. Ceos from more than 600 companies signed a letter to the president urging him, hey, drop the tariffs on china. One of those people, mitch modell, of modell Sporting Goods had been a trump supporter. I think he still is. So why isnt he backing the president on tariffs. Well ask him. He appears on this program in the 11 00 hour. Aoc, congresswoman alexandria ocasiocortez still comparing migrant Detention Centers to concentration camps. The top guy at i. C. E. Has responded. He says aocs comments are irresponsible and just plain wrong. Well hear more about this after this. Your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. You need decision tech. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Todays Senior Living communities have never been better, with amazing amenities like movie theaters, exercise rooms and Swimming Pools, public cafes, bars and bistros even pet care services. And theres never been an easier way to get great advice. A place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. A place for mom. You know your family we know Senior Living. Together well make the right choice. Call j. G. Wentworth phone ringing j. G. Wentworth, how can i help you get cash . I want to pay off my debt and move into my own place. But i need cash now to do it. Do you get regular payments from an Insurance Company . Yes. In exchange for some or all of your future payments, we give you a lump sum of cash now. Call now, and youll also get 25 for receiving a quote. announcer call 877cashnow. 877cashnow. Thats 877cashnow. This type of rhetoric from our elected leaders is irresponsible, reckless, misinformed and wrong. Whats ironic about this, weve been saying for a very long time we have a crisis, it is real, it is not manufactured, our resources are overwhelmed. Stuart strong stuff from acting i. C. E. Director mark morgan, responding to, i will play it for you, responding to this from alexandria ocasiocortez. Roll it. The United States is running concentration camps on our southern border and that is exactly what they are. The fact that concentration camps are now an institutionalized practice in the home of the free is extraordinarily disturbing. Stuart oh, yeah. Joining us now jeff ballabon. Jeff, welcome back to the show. Sir, let me tell everybody, youre jewish. Youre orthodox. May i ask you to be somewhat restrained in your response but go. Have at it. I will be restrained although youre right, stuart, it couldnt come easy. Not just being jewish orthodox, coming from holocaust survivor family. This is an unfortunate and devastatingly terrible because it is being mainstream form of holocaust denial. Diminishing what happened in the holocaust. The term concentration is not used in nazi concentration camps and death cams, that is true but she related to the term, never again. Never again is very clear. That applies to one thing, that applies to what happened during the holocaust, to intentional, intentional gathering in of the jews from around the world. They tried, they were able to do it in europe, to places where they could process and exterminate the jews. So there were labor camps, there were concentration camps and there were death cams but the result was to kill them out right. So far removed, besides horrific to say about our country the United States. At this time is quite the opposite, people trying to infiltrate our borders, were keeping them in places while we process them for humanitarian reasons we can discuss in a minute, while the democrats pushing their agenda to keep the crisis going. Diminution of what took place in the holocaust, is criminal, that it is being mainstreamed in congress. Stuart we talked about this before, jeff, i dont see how Jewish Voters and jewish members of congress can stay in the same party as democrats when you got aoc saying something as, i find just disgusting, insulting as this. I dont see how the party can main those two wings . Well let me say this. Aoc invoking never again lands to, on my ears it would be akin to david duke saying, i have a dream to try to pursue his white supremacism. She is pursuing a set of policies and with extremists, extremists antisemitic rhetoric since she pot there. Not just her, a number of incoming class of democrats, democrat freshmen, its a disaster. Will jews stay with the party . A lot have already left. Some will stay. That has a lot to do with a dual jewish identity. There is a, there is jewish ethnic identity and jewish faith identity. The jewish ethnic identity stopped seeing themselves as minority. The they have already departed democratic party, voted for republicans especially last couple years. It wasnt just last election, leadup to the last election. Democratic party leadership, is black lives matters, womens march, what joins the groups together theyre frankly all antisemitic. Stuart youre coming to us from orlando, were you at the rally last night, if you were, what impression did it make on you . Well it made the impression, look, it is, it was a tremendous amount of energy. People, it was extraordinarily, people camped out for days waiting to get in. I have to tell you because i wear a yamulke, it was clear i was there with a media group, not with the general crowd, people were running over to bless me. Stuart really. To thank me. Stuart really . Yes. We discussed this on air before. The protrump crowd by and large, trump himself by and large, so, feel so much affection and protective of jews as were being attacked by left and attacks are coming more frequently. Made me feel very warm. Stuart good. As you can imagine wearing yamulke means getting attacked these days, very much so. Energy was colossal. The fight was, are the polls to be believed, they say he is not doing well. The polls were not to be believed last time. I dont believe them this time to the degree theyre negative. The energy is nothing like i ever seen before. He is making america better across the board. The other thing was, tremendously mixed crowd at least where i was. People joined together by a vision of america being greater. And that is wonderful thing. Stuart jeff ballabon, we thank you for your restraint. I admire it. Jeff ballabon is a good man. Thanks for joining us. Good bless, thank you. Stuart im going to stay on the board for a moment, last hour we spoke to tom homan. He is former acting i. C. E. Director. His name is being thrown out by President Trump as possible future border czar. I asked him, if he would take the job. Watch this. Well see. Look, i have had discussions on this and, do i want to leave all this . I mean, well see. Look, im a patriot at heart. I come back from retirement once. Will i come back a second time . Never say never. Stuart he is a diplomat. He is not ruling out taking that job. That was tom homan. Good man. At least Nine American tourists have died in the Dominican Republic. Many more fallen mysteriously ill. Any Legal Recourse for these people, maybe their families . The judge will handle that one in a moment. Next hour twotime world series champ Keith Hernandez on the show. Well talk about the seinfeld episode of all things. Yeah, i know he is about baseball. Might bring soccer in as well. This is one extraordinary guy. I call him the trump of baseball. Lets see if he lives up to it. Womens world cup, dont miss team usa facing sweden 3 00 eastern tomorrow on fox. Of course it is on fox. Today on fox, england plays japan. Which is of greater interest . Im following them both. Stuart this is happening. Amtrak has halted all trains going in and out of New York Penn station is because of overhead power issues. That is all we know. I dont know exactly what that is but thats the explanation. Big deal at penn station. Then there is this, at least Nine Americans have died while on vacation in the Dominican Republic and a tv star from the show the bachelor, says she has been seriously ill since returning from the dr. We have judge napolitano, host of from fox nation r nation is there any Legal Recourse. You have to come up with some proof. Stuart sue who . That is good question. Can you sue the American Travel agent that arranged for you to go down there . Can you sue the hole tell chain which the decedent changed particularly if the chain has a is here in the United States. The goal is to sue here, with a venue that speaks english and than go down there to deal with the language and foreign law issues. How did they die . What do autopsies show . What did they ingest and where did they ingest it . Who had control, i think it was poisoned alcohol . Who had control of the alcohol in the time period prior its ingestion . Those are all questions of fact. Stuart you would actually sue everybody trying to pin liability on somebody. That is a, that is a tactic employed by lawyers, isnt it . It is but today lawyers usually, i know youre going to be happy near this, usually employ investigators to gather more facts rather than suing everybody because you really want to concentrate on people that have insurance policy or have deep pockets. What you really want, is an american connection. So lets just say that its a big hotel chain. I dont want to throw a name out there, that has presence in the u. S. You would sue them where the plaintiff lives and they have a presence. Stuart okay, now suppose that i booked a Dominican Republic vacation. Now ive got cold feet. I want out. Can i get my money back . I can answer that question but i cant get you your money. Stuart all right. Answer the question. Youre not going to get your money back. You really take the chance when you put a deposit down. Stuart thats it . Thats it. Thats a loss or go, take the chance. Stuart to me the bottom line is, terrible pr for the Dominican Republic. Horrible. Horrible. Reports that were getting is that the investigations are shoddy and the autopsies dont even meet american standards, which means that the result of that autopsy might not be admissible in an american court. Stuart oh. Not good news. No. Stuart judge, thank you, sir. Appreciate it. Youre welcome. Stuart next, not next, but we do have a bigtime guest coming up in the next hour. Where is he . Stuart twotime world series champ of Keith Hernandez, you heard of him . He is fabulous. Stuart if you dont know him from baseball you might remember his cameo on the tv show seinfeld. So popular, the new york posts are holding a special seinfeld night. Keith hernandez will tell us all about it. Were three hours away from getting clarity from the fed on Interest Rates. Once that is out of the way. The president is watching trade talks with china. I say xi xinping is in a corner. That gives. My take come next. About helping her raise her first child. And when i was first diagnosed, my choice was everyday verzenio. Its the only one of its kind that can be taken every day. It gives us more time without cancer progressing. Verzenio is the only cdk4 6 inhibitor approved with hormonal therapy that can be taken every day for postmenopausal women with hr , her2 mbc. Diarrhea is common, may be severe, or cause dehydration or infection. Before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. Verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. Serious liver problems can occur. Symptoms include tiredness, appetite loss, stomach pain, and bleeding or bruising. Blood clots that can lead to death have occurred. Tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, rapid breathing or heart rate, or if you are pregnant, nursing, or plan to be pregnant. Common side effects include nausea, infections, low blood cells and platelets, decreased appetite, headache, abdominal pain, tiredness, vomiting, and hair thinning or loss. My relentless reason its them. My choice with my doctor its verzenio. Ask your doctor if everyday verzenio is right for your first treatment. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. You may be learning about, medicare and supplemental insurance. Medicare is great, but it doesnt cover everything. Only about 80 of your part b medicare costs. A Medicare Supplement Insurance Plan may help cover some of the rest. Learn how an aarp Medicare Supplement Insurance Plan, insured by unitedhealthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . These are the only Medicare Supplement plans endorsed by aarp because they meet aarps high standards of quality and service. Youre also getting the great features that any Medicare Supplement plan provides. You may choose any doctor that accepts medicare patients. You can even visit a specialist. With this type of plan there are no networks or referrals needed. Also, a Medicare Supplement plan. Goes with you when you travel anywhere in the u. S. Call today for a free guide. Stuart President Trump knows the market and he knows what moves it. Thats why hes put pressure on Jerome Powell. Thats why hes tweeting about mario draghi and the european market, of all things. Three hours from now we get clarity from mr. Powell. Hes not expected to cut rates now but the market and the president will be listening to what he says about cutting rates down the road. Thats very important. The other market mover that the president is keenly aware of is, of course, china trade. Look at what one tweet about a g20 meeting did for stocks last week earlier, went straight up. Now, we now know it was the president who picked up the phone and called xi jinping, trying to break the logjam. The president had offered him basically a way out, because make no mistake, xi jinping is in a corner. Hes looking over his shoulder at hong kong, where millions of people reject his authoritarian communist government. He worries that the protests spread to beijing, maybe. He sees a dramatically weakening chinese economy. Even xis own finance minister admits to fox business that tariffs have had a negative impact on chinas economy. And xi jinping sees hundreds of countries jumping the chinese ship for vietnam, maybe taiwan and yes, america, too. That is pressure. Xi needs a deal more than trump does. Our president is playing a very strong hand. At the very least, we could surely expect china to buy a ton of american stuff and then maybe agree to more talks on technology and intellectual property. I think that is a plus for america. President trump has the upper hand. He says he will keep those tariffs in place if theres no deal. Its xi who faces what could be a make or break decision. His leadership i think hangs in the balance. The third hour of Varney Company straight ahead. I spoke with president xi this morning of china. Well be meeting at the g20 and i think that is working out pretty much as i anticipated it would. China very much wants to discuss the future and so do we, so the relationship with president xi is a very good one. We had a long talk this morning. Stuart that was President Trump on his way to orlando yesterday, bringing on his, i think, very hard line on china. Donald luskin is back with us. You may have heard what i said a moment ago. Xi jinping is in a corner. I think he needs this deal more than we do. What do you say . I agree. Hes eating lunchty very, very bad restaurant, man. His choice is between an agony sandwich and a painburger. Hes got no way out. Hes either going to have to give in to donald trump of all people and open up china to be less protectionist which is all trump is asking, or he can resist trump and throw his country into recession, at the same time as there are two million rioters in the streets of hong kong. The real problem hes got is Holding China together. China is famous for having a huge amount of industrial overcapacity. Theres one industry, though, where they might not have enough. Thats the rubber bullets industry, because that crowd of two million in hong kong, we got enough to take them out but if riots like that ever happen on the mainland, we are talking about 100 million participants. Stuart hold on a second, donald. Lets bring it down a notch or two, shall we . Maybe one. Stuart what i think we are going to get is a handshake, a smile at the xi jinping trump meeting, handshake, smile, i think they will buy a ton of stuff from us and agree to a framework to talk about intellectual property and theft of technology. I think thats what were going to get. Do you think President Trump will be happy with that . I dont think thats what we are going to get because trump wont be happy with that. They offered that a year ago. Treasury secretary mnuchin went on all the sunday talk shows saying oh, great, we got a trade deal, war is over. Trump just blew that out of the water with one tweet saying thats not enough. We want real structural reforms. If hes got xi over a barrel, why not drive him all the way to cleveland, man . Thats the opportunity here. Stuart hold on a second. Let me go through this. Good stuff, tell you that. As of right now, the markets are showing a modest gain for the dow. This is really all about waiting for the fed decision coming up this afternoon. Okay. Now, we are watching Interest Rates on this fed day. Look at this. This is the tenyear treasury yield, 2. 09 . Historically very low. Donald, come back in again here. Youve got three reasons why the markets would be happy with a cut. You mean a cut now and more to come . Is that what youre talking about . If its time for a cut, its time for a cut now. I dont see what purpose at all is served by having no cut today but then a little statement saying well, maybe we will have a cut in six weeks at the next meeting. If its time for a cut, its time for a cut, and it is time for a cut. The tenyear bond yield is more than one rate hike below the fed funds rate. So even if they cut rates once today, you would still have an inverted yield curve. The fed has not hit its inflation target any more than six times in the last ten years. Theres no inflation threat. In fact, inflation is dangerously low. And you have an inverted yield curve. And Jerome Powell has all his excuses. Remember that little statement he made about two and a half weeks ago, where he said well, we are getting a little bit cautious because of these trade tensions and other matters. So hes got it all set up. So he doesnt have to admit that he tightened wrongly in december. Oh, no. He can do what everybody does. Blame trump. So i think theres going to be a rate cut today and i think thats going to be the narrative around it. Stuart you are a fine tv performer, but admit it, please, if they lowered rates today, the world would say oh, youre just caving to President Trump. Thats what they would say. That would be the wonderful unintended consequence. Another victory for trump and on to 2020. Stuart you know, if i ever retire i think you might want this job. You couldnt take the pay cut. Okay. Youre all right. See you again soon, sir. Thank you. Thank you. Stuart like i said, all eyes on the fed this afternoon. 2 00 sharp, you get the rate cut decision. Thats followed by a press Conference Held by chairman powell. Watch it on fox business, please, because that, i really believe, will move the market. One way or the other. Big money starting to pour into the 2020 race on both sides of the aisle. Vice president biden, former Vice President , joe biden held a wall street fundraiser monday. I think 180 people showed up and i believe he pulled in about, what, 500,000 for bidens campaign. He hopes to bring in 20 million for this entire quarter. I want to straighten that one out. Pocket change compared to the president s numbers. Check this out. A tweet from the rncs ronna romney mcdaniel. Quote, President Trump has raised a recordbreaking 24. 8 million in less than 24 hours for his reelection. The enthusiasm across the country for this president is unmatched and unlike anything we have ever seen. Lot of that money, by the way, came in the form of small donations. That was for President Trump. 24. 8 million, 24 hours. Individual stocks that are moving. We will check them for you. Amazon ramping up its delivery service. Even more boeing planes joining their fleet. Just got a deal to rent 15 more 737s, part of their 800 million plan to bring free next day delivery to prime members. Look at apple. Reportedly looking into, this is a japanese news report, looking into moving 15, maybe 30 of their production out of china. They have asked partners and suppliers to explore other countries to set up shop. Apple stock at 198. Look at viacom and cbs, media giants. Cbs is looking to buy out viacom. They will make an offer within the coming weeks. No word yet on a set price. Both stocks up a little. Coming up, yeah, twotime world series champion Keith Hernandez with us here in our studio. A lot to talk about. Does pete rose belong in the hall of fame . Is he watching the world cup . What does he think is more entertaining, baseball or soccer . Ive got to get into that. As an interview, you dont want to miss it. Hes a great guy. First we talk to the ceo of modells, mitch modell. Hes one of 600 companies that signed the letter to the president saying tariffs were bad for america. Hes a trump supporter. Why is he going against the president on this one . Well, hes with us and will make his case for himself. In my line of work, i come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. Stuart all the disney fans flocking to the parks because of star wars. Heres the news. Prices are going up again. Deirdre second time this year, stuart. The company is raising ticket prices based on how crowded they think certain days will be. They are up about 30 across the board. This affects individual tickets stuart wait, wait, wait, wait. Are you telling me that all of a sudden, they are jumping prices 30 now . Deirdre true. Stuart 30 . Deirdre yes, 30 . Before you would pay about 100, 120. Now they are up to 150 per head. Im not going through every single package thats available, in terms of family plans and things like that, but they expect this disney galaxys edge to be such a big hit in florida, i want to underline its already open in california, it will open in august, at the end of august in florida, so basically, yeah, they are expecting a lot of foot traffic. Stuart if you get heres what im seeing. If you get the premier annual pass, one person, 2,099. That gives one person access to all parks any time they want to go. Deirdre any time. Its like a passport. They call it a disney passport. Stuart free parking. Deirdre it comes with all kinds you can have breakfast, you can have characters sitting on your shoulder, chip and dale while you eat your breakfast. I will say i was in california, as you know. I was able to ride the millenium falcon and pilot it. It is pretty cool and do understand fans would be very into this. Stuart the theme parks, disney, around the world globally, take in 20 billion in admission. 20 billion. Ashley doesnt matter how much they put the price up. People go. Deirdre if you measure by revenue, it is the biggest contributor to disneys bottom line. Stuart thank you, disney. Deirdre. Listen to this for a second. The ceos of 600 of the Largest Companies in america sent a letter to President Trump saying hey, knock off the tariffs with china, please, they are killing us. I cant believe this. One of the ceos who signed that was mitch modell, the ceo of and president of modells Sporting Goods. Hes with us now. Youre backstabbing the president. You are supposed to be a trump supporter and you are stabbing him in the back just as hes going into trade meetings with xi jinping and you are saying knock off those china tariffs, mr. President. What are you up to, modell . We are trying to be supportive and give him advice. Listen, theres a reason why 600 manufacturers and retailers are testifying this week in front of the u. S. , you know, office of stuart right, right, right, right. Regarding tariffs because at the end of the day it is going to cost the consumer tremendously. 70 as you know of consumers represent the gdp. If prices go up, spendings going down, gdp is going south. Stuart you had to go and tell the president hey, knock off these tariffs, youre smiling, just as hes going into trade negotiations with china. You had to do it now. You just had to do it now. When you called me, i couldnt resist, stuart. No, i tell you, i think a deals going to be done at the g20 summit. Theres no question in my mind. Theres too much pressure from every industry association. Every retailer, every manufacturer. It would be crippling. I mean, the Consumer Confidence is great. This would be devastating to the Consumer Confidence. Stuart cant you make those yankee shirts, cant you make them some place else . They happen to be made here but when you think about this fourth tranche affects 273 categories. 88 of the toys that are sold in the u. S. Is made in china. 72 of footwear is made in china. 43 of apparel is made in china. Sold in the u. S. This would be a devastating effect. Stuart that would be if more tariffs are imposed. If the 300 billion, right, the 300 billion hes talking about get hit with this 25 tariff. Stuart we have already got the 25 tariff on 200 billion worth. Correct. This is another 300. Stuart i dont see prices going up that much right now. I see a lot of manufacturers relocating out of china. They are getting hurt. A lot of people are going to southeast asia, indonesia, vietnam. A lot of footwear companies. But its not going so much affect this year but what will happen next year. Most of the goods are already made already. Next year will be the effect if this thing goes into effect. Stuart you are crying wolf and stabbing our president in the back. Absolutely not. Hopefully, this thing will be resolved. Listen, everyones concerned about the effects that china could have, whether it be regulations, slowing down imports, slowing down container shipments. This could be devastating for the economy. Stuart theyre in the corner, not us. Theyre in the corner. Xi jinping is looking over his shoulder at those riots in hong kong thinking good lord, i dont want this to go to beijing. Hes looking over his shoulder at an economy thats really hurting much more than ours. Hes looking over his shoulder at Companies Leaving China in droves to produce elsewhere. Hes under pressure. And you are pressuring our president. Stop smiling. But when he says he will go to his death to fight this war its not a good thing. We have to come to our senses and get resolved with china. Stuart are you giving me free stuff with you giving me a little gift card . I think they expire add 10 00. What time is it . Stuart oh, ive got to distribute these to the crew. Okay. Mitch modell, thats your name, seriously, thanks for being with us. We appreciate it. Always a pleasure. Stuart i dont want to give you too hard a time but you deserve it. Thank you, mitch. Im terrible, arent i . Ashley you are. Stuart youre not smiling now. The price of oil this morning is down. We are at 53. 87 per barrel despite the fact that we actually drew down from our oil stockpile. The price of gas, down a fraction of a penny at 2. 67 National Average but that is down for 18 straight days. The big airlines, the pesky baggage fees adding up. Airlines have racked up about 1. 3 billion worth of those fees already this calendar year. 1. 3 billion for excess baggage fees. The stock, american, delta, continental, up. Southwest, jetblue, down. Theres a new member of the 100 billion club. Who just joined . Jeff bezos and bill gates in the worlds most exclusive wealth club. Of course we will tell you after this. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Its a revolution in sleep. The sleep number 360 smart bed now from 899. Senses your movement and automatically adjusts on each side to keep you both comfortable. And snoring . How smart is that . Smarter sleep. So you can come out swinging, maintain your inner focus, and wake up rested and ready for anything. Only at a sleep number store, dont miss the queen sleep number 360 c2 smart bed, now only 899. Plus, 0 interest for 48 months on most beds. Ends wednesday. Stuart so who is the newest member of the 100 billion club . That man right there. Hes europes richest person, the chair of the Luxury Company lbmh, Louis Vuitton and others. He joined the ranks yesterday as his companys stock rose about 3 , increasing his net worth by almost 32 billion. Thats this year. His net worth now equals, what, 3 of frances entire economy. U2s wellknown guitarist known as the edge, he lost a 14year battle with l. A. County regulators. He wanted a huge five building, five Swimming Pool complex built into the side of a malibu hillside. The regulators say oh, no, that would damage an environmentally sensitive area, meaning he still hasnt found what hes looking for. Ashley nice one, stu. Stuart thats a reference to a u2 song written for me, scripted for me because i dont know. Thank you very much indeed. On your screen, the closest photo ever taken of the surface of an asteroid. Look at it. Its called benu. Nasas asteroid watching spacecraft snapped the shot from earli earlier, about half a mile away. Thats pretty close. One more. Check out this shocking video of a great white shark off the coast of new jersey. 16 feet long. It stalked a fishing boat and sava savagely attacked the bait. We had to bleep out some of the commentary. Inches from the camera, thats a huge great white. How about that. President trump was on fire last night talking about the economy. Joe biden was listening. Now they are getting into it over who gets the credit for the economy. We will explain it all after this. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Stuart dow jones average up, what, 40 points. Pretty even split between winners and losers on the big board. Everybodys waiting for the fed decision, 2 00 this afternoon. President trump kicking off his 2020 campaign in orlando last night. Yeah, he touted the roaring economy and yes, he took a jab at the Previous Administration. Roll that tape. Remember the statement from the Previous Administration . You would need a magic wand to bring back manufacturing. Well, well tell sleepy joe that we found the magic wand. Stuart joe biden fired back. Heres his tweet. Lets be clear. President trump inherited a growing economy from the Obama Biden Administration and now hes in the process of squandering it. Thats joe biden. Senator kevin cramer with us, north dakota republican. I will break this down into two. First of all, mr. Biden says that trump inherited the obama biden economy. What do you make of that . Deal with that first. Well, the first thing i would say is thats right in line with what they were saying over the eight years of the Obama Administration that everything bad that was happening was george bushs fault so clearly, obama did everything right and nothing wrong. But lets also remember, the president inherited high taxes and lowered taxes. The president inherited an unprecedented amount of Regulatory Burden which he has greatly reduced. These things resulted in this great economy. By the way, when it comes to manufacturing jobs and other things, i know a thing or two about energy jobs, and Energy Dependence and Energy Security and Energy Dominance and this president has made a very concerted successful effort to make America Energy secure and energy dominant. That has resulted in lots of jobs, not just in the energy field. Stuart youve got jobs to spare in the dakotas. Weve got lots of jobs. Come on out. Stuart deal with the second half of that tweet. Where joe biden says that mr. Trump is in the process of squandering the economy. I dont know where that comes from. Can you explain this . The only thing i can imagine is that maybe hes referring to some of the trade issues and trade talks that are going on, but what i see him doing is not squandering the opportunity, but using the momentum of this dynamic economy as leverage with other countries who want to be players with the United States of america and to those who dont, hes using our success again as momentum and leverage, not squandering. Stuart i would imagine that in the dakotas, north and south, the president s message of a riproaring economy plays very, very well. Youre not in danger of losing your seat, are you, senator . Well, the good news is i have five and a half more years so either way its good by me. But you are exactly right. That message does resonate in the dakotas not just because we have a good growing economy, not just because donald trump has done a lot of things that are good for us, for our economy, but because this is what we believe in the first place. I call it normalville usa in what used to be flyover country. Now president s, Vice President s and cabinet officials visit quite regularly to see things on the ground and create relationships that benefit the workers as well as the boss. So no, we like his message a lot. Stuart i havent got much time. I just want to squeeze this question in. I know that north dakota produces well over a Million Barrels of oil a day. But i dont know if south dakota produces any oil or other forms of energy. Do you . Well, the only way south dakota can produce oil is if they suck it out from under us. So this horizontal drilling thing is going a long way but we do not let folks take our oil out from under us. They do have a little bit of oil in the very northwestern part of the state, the more traditional wells but i dont know that anybody is producing there. North dakota is so rich, so accessible, the technology has been so perfected and it just gets more and more productive and less expensive, frankly, to get every day. Thats why we are enjoying such tremendous success. Stuart that is a Great American story. Ive got to say. Senator, thank you very much for joining us, sir. Thanks for the opportunity. My pleasure. Stuart yes, sir. I want to check back to facebook, very much in the news. Looks like they Just Announced Digital Currency, libra, its going to fall under congresss microscope, not in a very good way. Deirdre exactly right. Most lawmakers want hearings. In fact, if you look to democrat Maxine Waters, she actually wants facebook to halt the development of libra until congress and regulators have had a chance to review it. Obviously putting some brakes on facebooks plan. Senior republican of the house Financial Services Committee Patrick mchenry saying as well there should be a hearing on this, that this is too farreaching to just let this develop without anybodys eyes and ears on it, congress and regulators. I want to mention facebooks c. O. O. Sheryl sandberg speaking earlier today saying we need to meet with people, talk to people, then we will launch. You can tell shes trying to reassure regulators and congresspeople that they are going to do this in lockstep with numerous partners, thats one of the advantages, that their digital wallet system is being developed right now with more than two Dozen Companies and facebook has said its goal is to have 100. Stuart i think its a terrific idea. It took the stock way up. The stock has only backed off a little bit. We were in the mid 190s a couple days ago. Now 186, down a couple bucks. But thats not a big pullback. Deirdre its a more stable, libra is more stable than bitcoin because its actually backed by hard assets. Shortterm government securities versus peertopeer understanding. Stuart i think that could be a huge winner. Deirdre i think so, too. Stuart an actual winner for facebook in the long run, if they get this thing off the ground. By the way, bitcoin is now right there at 9,000 per coin. Now, if you are a fan of netflixs Stranger Things or maybe fortnite, the game, listen to this. The shows ice cream shop, scoops ahoy, it was featured in the game, fortnite. Hinting i guess at a crossover . Well, leaked code from the games newest update reveals that you will be able to play as some characters from the show. Deirdre thats exciting for a bunch of 12yearold boys. Stuart many of whom are in our viewership. Ashley entrepreneurs. Stuart Adam Sandlers murder mystery broke viewing records on netflix. 31 million households watched the movie in the first three days. By the way, netflix only counts a view if you watched it at least if you watched 70 of the movie. Deirdre thats fair. Stuart you have to watch to score. Netflix up to 362. That stock has done well recently. We have to go beyond meat. One of our market watchers said there are not a lot of shares available. That accounts for the pricing wild swings. It was up over 200 just a couple days ago. Now its at 170. We follow it because its a phenom. Ashley it is. Stuart ipo phenom. Tomorrow we will be joined by a celebrity chef, carla hill, who says she likes the meatless trend. She follows it even though she likes meat. She is on the show tomorrow. Now this. Massive cocaine bust in philadelphia to tell you about. How much was it . How much did they get . Ashley 16. 5 tons of cocaine, 15,500kilos. Took up seven containers on this ship. Think about that. Estimated street value, approaching 1 billion. Now, what it meant for the u. S. , it wasnt meant for the u. S. They have arrested a couple people involved in this. Most of the crew being looked at, as you can imagine. This ship stopped in philadelphia but was due to go on to europe with stops in the netherlands and france. Thats where they believe the ultimate destination was. Packed on to the ship somewhere off the coast of south america. Stuart how many containers . Ashley seven. Stuart 16 tons of it. A billion dollars. Ashley biggest ever in the philly area. This is remarkable. Stuart i cant remember a drug bust that size. Its huge. All right. Here we go. Twotime world champ Keith Hernandez joining us shortly in the studio. Lot to talk about with him. The seinfeld episode. Why isnt keith doing more acting. Is he getting royalties from the seinfeld episode. This is a financial program. We will talk money and get into baseball as well. That is a promise. Here he comes. Experience the style, craftsmanship and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 month for 36 months. Experience amazing at your lexus dealer. Were on the move. Hey rick, all good . Oh yeah, were good. Were good. Terminix. Defenders of home. What is he waiting for . Thought he was a cool guy. Come on. I won the mvp in 79. I can do whatever i want to. This is getting awkward. Well, good night. Good night. Who does this guy think he is . Im Keith Hernandez. Stuart sports fans, you may not believe it but i have never seen that before. That was a revelation. Man, you really kissed her, didnt you. All right. Look whos here. The kisser. The man himself. Keith, welcome to the show. Its a great pleasure to be here. Stuart now, we played that clip because this is special seinfeld night for the mets, isnt it . Oh, its coming up. I think the latter part of june. Im not sure of the date. They are going to have seinfeld night. Stuart thats the only reason we were allowed to use that clip. You realize that . Thats the one scene everybody wants to play, too. I can tell you it took eight takes. Stuart you started out i botched it. Stuart as you know, this is a financial program. You still get royalties . Yes, i do. Stuart okay. Now, you have written a memoir. I think its called im Keith Hernandez. Speaking of your appearance on seinfeld thats going tell me again, when is it coming up . Im not sure of the date but its a bobblehead night. Jerry will be at the ballpark. Stuart july the 5th. There you go. Stuart i have to tell you. Im supposed to know that. Stuart you do color commentary for the mets . Yes, i do. I have been for, gosh, almost 20 years. Stuart you know why youre popular . Not just because you were a great player and you won in the world championships, not just that, its because you speak your mind. Thats why i call you the donald trump of baseball. Do you object . I think im the Stuart Varney of baseball. Stuart thats the worst fake british accent i have ever heard in my life. But you do. You speak your mind, dont you . I have to give credit to the ownership. When we started the network which is owned by the pond family, they put us together and we have been together since 2006, i believe, they wanted a fair and nonbiased broadcast, honest broadcast, and we have never been censored or anything. He wants to give the fans what our thoughts are. Stuart thats whats attractive. Often people are so guarded in their comments about anything. You are always on your guard. You have to be politically correct. But you dont care about that. You wade right in. Let me ask you this. Should pete rose be in the hall of fame . Oh, thats a tough one. I can tell you this. When i was 18 years old out of high school, first year in the minor leagues, every spring training i had been to, i played 20 years professionally, the fbi and the head of the commissioners Security Office comes in and makes a big speech in front of the minor leaguers and the major leaguers about gambling, and what to watch for, the checks and balances, and what the penalties are. Pete is unquestionably a hall of famer. But gambling is the worst taboo and you know, youve got Shoeless Joe Jackson with the black sox in 1918, 17, whatever it was, that scandal where it all started, really. So my feeling is if he gets in, it has to be posthumously. Stuart okay. So after his death. Yes. Stuart okay. I asked him that question on the show, because he was a guest of mine just a couple of weeks back, and he said hes over it. Hes past it. Roll that tape, will you . Lets get his response to when i asked the question. Roll it. You an angry guy . Youre not in the hall of fame. No, im not angry. Stuart im not going to raise all that over again. Are you angry . No, im not angry. Why would i be angry . Im the one that screwed up. Im not going to get on your show and complain about not being in cooperstown. Im the one that messed up and im willing to go on with it. Stuart he was an honest guy. Well, i did not see that interview but that was very powerful, what he said. I played against pete my whole career, my entire career. He was a generation ahead of me. Theres very few people in any walk of life that can make People Better around him, and pete was one of those guys that made everybody around him, the Philadelphia Phillies when they won, what was it, my memory, 1980, they had lost prior in the 70s, they had great teams with mike schmidt and Steve Carlton but they could never get past the dodgers. I firmly believe if pete rose did not come to philadelphia and play for the phillies they never would have won a world series. Thats the kind of infectious player he was. Stuart you were a similar type player. I think you were. I do remember way back when. I have been in america 40 odd years. I remember way back when. You were an aggressive, hustling player. You wanted to win. Well, yeah. What are we here for . Stuart but you went all out to win. Winning was everything. Well, im spanish. Im emotional. I played with emotion. A lot of guys i played with, different personalities, you got 25 players and its a big potpourri of person althoualitp. Some are laid back and put off the impression they dont care but they do. I was one of those fiery guys. Stuart i asked pete rose this. You a trump supporter, you like trump. Do you . Yes. Stuart you do . Yes. Stuart you are open and honest about it and you are in new york. How do you get away with that . Barely. Stuart youre Keith Hernandez. Do i have to write the script for you . You are putting me on the spot. Stuart no, im not. This is entertaining. Would you say this. You are such a good guest, im going to hold you over for another block. Can you believe that . Glad to stay. Stuart im told i have to read this. Because in a moment, we are talking world cup soccer. Team usa was criticized for their celebrations during their win over thailand. I want to know, does Keith Hernandez think they went too far. If you want to stick around and answer that question, stick around. I will stick around. Stuart back in a moment. Take this break, please. Lets take a look at some numbers 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Stuart put him on the screen. Not the world cup yet. Not me. Put it there. Thats Keith Hernandez. Hes still with us. He says he will stay over for another block. Yes, i will. Stuart what a guy. Well, to be on your show . Stuart flattery is the mothers milk of television. Thank you very much. Which would you rather watch, 90 minutes of endtoend soccer, vigorous action, or three and a half hours of baseball . Neither. Neither. Stuart youre not a soccer fan . I am i guess im an american. I grew up with baseball, basketball, football. Stuart im a citizen of this place. I know. There was no soccer in the 50s when i was a kid growing up. Hardly any soccer. Stuart are you watching the world cup . No, im not. Stuart why not . I just dont have an interest. Stuart the United States is killing them. Its a free country. Stuart what about the celebrations . This is a serious question. When they beat thailand, what was it, 13nil, youre not aware of this but they beat thailand 13nil, they were highfiving and celebrating in the middle of the field and people thought that was kind of unsportsmanlike. What do you say . Well, i think its in every sport and its probably everyone looking for their espn moment. Espn has a lot to do with it. Theres a lot of celebration even in baseball now. When we played, you got around the bases, you hit a home run, and you just got in the dugout and did your high fives there and shaking hands. But they are doing it all out on the field now. Thats just part of the whole stuart you like it or you dont like it . You can live with it . I can live with it. I have come to terms with a lot of things change and im old now. I have been out of the game i have been out of uniform since, what, almost 30 years. Stuart may i ask how old you are . 65. First year of medicare. Stuart how old do you think i am . Thats a toughie. Stuart no, its not. I will say youre 65. Deirdre wow. Stuart give him another block. Im 71. Are you an investor . Yes, i am. Stuart whats your style . You like stocks or i diversify like everybody else. I am building for my retirement. Its been very good with the stock market coming up. Stuart yeah, sure. I have been in it a long time. Stuart you are riskaverse . I am, because my power earning days are over, and i have got to look to my future. Im not going to be able to make the money im making, im not going to do to, what im doing with the mets now, forever. Ive got to have it all laid out so i can live the lifestyle im used to. Stuart why do you like trump. Why do i like trump. I think that, well, the economy. I think the people have gone to wo work, all different races and creeds and colors, the unemployment is down everywhere. I think hes helped everybody. Stuart he says what he thinks. He does. Stuart he speaks like ordinary people. I think that the world is starting to understand that when he says something, its not just another politician thats blowing smoke and that he means what he says. Stuart right after his victory in 2016, i am told that you walked down the red carpet at maralago. Yes, i did. Stuart and they took pictures of you. Yes. I was a vip. Stuart there was hell to pay. The twitter world is very north and south and polar would be the right word. I have my life to live. Its a free country. I can believe what i want. I respect what anybody else feels. I just dont get involved in conversation. Only with you. Stuart its your life and you are going to live it. You are a hell of a good guest. Thank you very much for being with us. My pleasure. I was really thrilled to be here. Stuart thank you, sir. Thats flattering. Ill take it. Listen to this, please. As i said earlier, you can watch coverage of the womens world cup, thats an offer, on fox, hernandez, on fox, the undefeated u. S. Team plays sweden tomorrow at 3 00 p. M. Eastern time, and the english team plays japan today at 3 00, on fox. Back after this. Stuart Keith Hernandez, great guest. He left the studio. To be honest, ashley, i had not seen that seinfeld clip before. I didnt know what you were talking about. I glad he told you it took eight takes. He botched it. He amazing guy. What a fantastic conversation you had with him. Stuart he is a good man. I watch every seinfeld, every episode. I loved him. He is great. Jerry develop as man crush on him in that segment. Jerry want to hang out with Keith Hernandez. You can see why. He is a great guy. Stuart market on pause i guess you could say, waiting for the 2 00 announcement on Interest Rates on the Federal Reserve. By the way, i got to tell you this, next, neil interviews jeffrey gundlach, double line ceo, socalled bond king, coming up moments from now. My time is up. Neil, it is yours. Neil thank you very much. No hernandez. He is a baseball player i guess . Okay. Im up to speed. We are awaiting the Federal Reserves decision an hour or so well get hints, two hours well know for sure. It is the tone of that announcement, whether triggers a cut today, unlikely, whether one deemed last month likely. What the fed chairman has to say. Prospects of trade, what he has to make of that. All the talk on cutting Interest Rates began with the fed chairman all but saying we have countries, by extension, think about the president s back, if everything hits the fan, we have a trade quagmire on hand, whatever you want to say, major market