We will ask. Bear in mind its a volatile market. Who knows how we will close today. Now, heres the really big reversal. Yesterday, that key interest rate, the tenyear yield, had dropped to 1. 59 . It was a massive move. Now its 1. 73 . A massive move in the opposite direction. Heres the question. If that bond was a safe haven yesterday, why is it not today . We will ask. Breaking overnight. I. C. E. Raided Food Processing plants in mississippi, apprehending 680 people believed to be illegals. The left is all over this one, describing the arrests as horrifying and horrendous. Mississippis governor will be on the show later this hour. Lets get right at it. Varney company starts now. Stuart start with the markets. You have to. Another wild reversal. Michelle mckinnon is with us. Tell me, what was that all about . A couple things. I think the market is now pricing in that 10 additional tariff, really wouldnt be the end of the world, because lets face it stuart the reversal. Thats why we reversed. Lets face it, companies are smart. They are already moving their supply chains. You saw that. You saw massive investment in vietnam in the first part of this year as well as mexico, and actually, china is no longer our largest trading partner. Its actually mexico. So at the end of the day, i think were all readjusting that probably isnt going to be that bad. Secondly, august tends to be a volatile month. People are on vacation, traders are on highwoliday. Im not that surprised. Stuart yesterday everybody was running into treasury securities. They wanted the yield and they wanted the security, the safety. Right. Stuart this morning, the yield is 1. 73 . Right. Stuart why is it not a safe haven now . I still think it is. 1. 75 on the tenyear, thats crazy. Stuart i dont get it. I think its the volume. You have a lot of people on vacation. I think also we saw such a massive move yesterday. Stuart it was a panic. It was a panic move. It was a baby panic. A baby panic. Come on. Stuart a move like that . 1. 70 to 1. 59 . I think we will see it again. Stuart is that your forecast . My forecast, i think august will probably be volatile. August tends to be volatile. I think you will see new highs at the end of the year. Stuart you will see new highs . You will see new highs on the stocks at the end of the year. Stuart gold and bitcoin both had a nice rally. Not so much today. Do you guys, you use gold as a safe haven or more to the point, bitcoin . Do you touch bitcoin . I think you can answer that. But you know, whats interesting for investors, i want to get into bitcoin, they should know the investment could absolutely go to zero. Gold, we do invest in gold. We do invest in a broad basket of commodities, not just gold. The thing with commodities is you need them. They are a nice hedge when markets go down, but they dont pay a dividend. I definitely wouldnt be plowing a ton of money into gold right now. Snooe stuart neither would i. Ashley bury them in the backyard. Stuart thats my line. Ashley it is opposite day. Oil off 3 . Gold off some 15 bucks. Tenyear treasury to 1. 75. Complete flipflop. Stuart so the question really stands, we will ask it again, what was that all about . Michelle answered it. Its august. You tend to see these crazy moves. Susan there are signs with the global economy, we got better readings from france. Thats encouraging. Stuart all right. Lets move on. Weve got a special guest today to look at lyft. Yes, they reported, they lost less money. They booked more riders. One of the early investors in uber is with us. His name is bradley tusk. Hes sitting right here. First of all, ive got a buck says lyft actually may go down, the stock, soon, because if you are an insider at lyft, you can now sell your shares on august 16th and i suspect some will. What do you say . Yeah, thats a huge concern. We have the same thing at uber, i think november 5th. I already told the people who manage my money, dont feel pressure to sell that day because if the stock takes a downward plunge because everyone is getting out and we think its temporary, lets hold it a few more weeks or months or whatever it is. But you know, if you have been working this, if all your net worth is built up in, especially if you are employees, these options you have been sitting on for a decade, they have been waiting for this day for so long, a lot of them are going to sell and say okay, if the stock is 10 less because everyone is selling, i will take the hit. Stuart lyft, have they turned the corner . Because they lost less money and they did book a lot more riders. Theres a couple of threshold questions. Its true for both companies, even more so for lyft because what they do is more limited than what uber does, which is one, can you stop subsidizing drivers at the rate they used to. You had this problem when uber and lyft were private companies, they were in this constant war of attrition where they would try to outsubsidize drivers from the others and it kept driving profits down. One of the benefits of both Companies Going public is you cant behave like that anymore. Lyft took a step back, to their credit, and it turns out the bandaid came off and it was okay. There wasnt some giant gaping wound. Thats really encouraging. But fundamentally it comes down to this. Its less about quarter to quarter and more about if you truly believe that people just dont want to buy cars Going Forward, if you believe the trend is 17yearolds not getting drivers licenses, my daughter is 13 and she hasnt once mentioned the notion of driving a car. Susan thats totally true. So if you believe that, then uber and lyft still have a relatively small share of the total market of people who drive in some capacity from point a to point b. In that scenario, they have huge upside. If you think that the market for ride sharing is maxed out where it is right now, then you have to worry about these companies because theyre not profitable. Stuart you are an inside investor in uber. Early investor, i should say. You got a chunk of it. When do they turn a profit . So it really depends on whether or not this Broader Vision they have can be executed. There was a piece in the times about uber. If they can become the place you go where you have to get from point a to point b, whether its a car, subway, train, airplane, bicycle, escooter, whatever it is, the same with goods and services. Uber eats which is doing really well, if you want a burrito brought to you, a package, if you need to take yourself somewhere, its the underlying uber platform. If they can create that, then this idea of being the amazon of transportation makes sense. Theres a vision for it, that vision has been there since day one, since i was involved in the company back in early 2011, but execution is hard. Stuart i did ask the question, when are they going to make a profit. Two weeks from thursday. Stuart come on. Years away . Given they are forecasting a 5 billion loss this quarter, yeah, its years away. Stuart long way away. Bradley, thanks for joining us. Now take a look at stock price of the Movie Theater chain amc. They came out with earnings this morning. They just reported that. 900,000 people have signed up for their subscription plan. Amcs ceo is on the show in the 11 00 hour this morning. The stock is up nicely, 7. 5 . Take that. Higher profit at keurig dr. Pepper. That stock up 1 . Lower profit at kraft heinz. Breaking news for you. Here we go. The state department has issued a travel warning for hong kong. Whoa. Susan yeah. After two months of protests and the increased violence and confrontations, tear gas, rubber bullets and as you see, theres increased shall we say violence as well, so the state Department Says they are going to raise it to a level 2 travel advisory. There are four levels so this is level 2. They are saying exercise increased caution in hong kong due to the civil unrest. So its not severe but they are saying exercise increased caution particularly when in the vicinity of various parts of hong kong that are seeing some of these protests. Stuart sign of the times. Susan, thank you. Check futures, because we are going up at the opening bell. Look at this. We will be up about 150, 160 points. Oh, how different 24 hours doth make. Twitter under fire for blocking Mitch Mcconnells campaign after it posted a video showing leftist protesters outside his home. Were on it. Nearly 700 illegals arrested in i. C. E. Raids at meat processes plants, several of them, all across mississippi. I said its the largest single state enforcement operation in its history. The governor of mississippi on this show later this hour. Some celebrities calling for a boycott of the very upscale fitness brands equinox and soulcycle because the companys owner is holding a fundraiser for President Trump. That storys next. I dont know whats going on. Ive done all sorts of research, read Earnings Reports, 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. You wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Stuart roku came out with a rosy forecast. They make those streaming boxes. Look at the stock, up 15 . You plug in the box, you watch your tv, they plug into the tv and you watch netflix. You stream. I might do that. Serious stuff now. The owner of the equinox fitness and soulcycle gyms, i think you could call them, facing a boycott. Why . Because hes holding a fundraiser for President Trump. I think its in the hamptons tomorrow. Ashley it is. Stuart how is he responding . Ashley hes firing back. It will be 100 grand for a picture with the president , 250,000 to listen in on a roundtable discussion. Hes being blasted on social media. Lets see how stephen ross, who also owns the miami dolphins, by the way, is responding. He says while some prefer to sit outside of the process and criticize, i prefer to engage directly and support the things i deeply care about. I have known donald trump for 40 years and while we agree on some issues, we strongly disagree on many others and i have never been bashful about expressing my opinions. But again, the reaction on, you know, on social media, people saying whats your policy for canceling membership once a member finds out your owner is enabling racism and mass murder. Stuart everything is politicized. Everything. Especially if you have anything to do with President Trump. Ashley exactly. Stuart i will stay on this story. The equinox boycott. I want to bring in cassie smedley, Rnc Deputy Communications director. I call this targeting, whether its a boycott or whether its. Whats your reaction . Absolutely. Its suppression of our democratic process. The owner says he likes to engage in the democratic process. We encourage everyone to engage in the democratic process but the lefts answer to everything is if you dont agree with us to a t we are going to call for a boycott or out you. You saw that earlier this week with the castro brothers, who one of the brothers put the names of 44 donors to President Trump out on blast, totally doxed them, forgetting some of them are his constituents and six were even his own donors but this is the playbook of the left in todays 2019 and first of all, how boring of a world that we would live in if we only frequented places where we actually agreed with every single thing. Stuart ive got to say, i wonder if these boycotts actually work. I would love to know how many people actually cancel their subscriptions to these gyms. I dont believe its very many. Some people might sign up because the owner favors trump. I dont know. I have another one for you. Very harsh words for the president from joe biden. Roll tape. Indeed, we have a president with a toxic tongue who is publicly and unapologeticaunapo embraced the political strategy of hate, racism and division. Stuart respond, please. I believe he said those comments while President Trump was meeting with the victims and families from the dayton and el paso shootings so theres only one person who was offering divisive rhetoric yesterday, at least in that moment, but he certainly wasnt alone. We know we have heard it from beto orourke and other 2020 candidates. This is the problem. President trump has on any number of occasions not just sought in his words but also in his actions to unite the country and to work on Meaningful Solutions that actually help us to be a safer, more prosperous nation. At every turn, the democrats cannot get past their hatred of President Trump. They never miss an opportunity to go after and fight President Trump while hes just trying to fight for the american people. Unfortunately, they have a media who is complicit and all too happy to give them walltowall coverage of hair devitheir divi rhetoric and comments. I think people are sick of it and thats why people are tuning out and certainly you saw a different picture in dayton yesterday. I think it was actually it was el paso, where one of the Mainstream Media reporters said we are actually surprised to see the positive response President Trump is receiving. Well, most of us arent because thats what real america looks like. Theyre not glued to their tvs listening to this divisive rhetoric. Stuart that media person wasnt surprised. He was shocked, absolutely shocked to find a decent reception for the president. Thanks for joining us this morning. We appreciate it. Thank you very much. Look at futures. If you want to talk reversal, look at that. Now we are going to be up, what, 160 points for the dow, maybe 55 for the nasdaq. Thats three quarters of 1 . That is reversal. Look at it. Samsung hopes you will be willing to pay, what, about 1,000 or maybe more for the new galaxy note phones. Are they worth that steep price tag . Weve got a sneak peek at them. You will get to judge yourself after the break. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Stuart hostess makes twinkies, dingdongs, hohos. Profit down a bit ashley my diet. Stuart its comfort food. Ashley it is, isnt it. Lets be honest. Stuart then youve got zillow, spending big to expand their home unit. I believe thats the unit that flips homes, buy them, fixes them up, sells them again. Wall street doesnt like this. The stock is down 14 . Watch out, apple. Samsungs revealed its latest galaxy note phones, the ones with big screens and a stylus. You saw these things . Susan i got a sneak peek this weekend. This is important for samsung, especially after the debacle of the foldable phone and a month before apple launches its device. Talking about the galaxy note 10 and 10 plus. The 10 plus is 3. 6 inches, the 10 is 6. 3. This is pretty impressive. Im playing witness heh it here. Edge to edge screen, you have that iconic pen, handwriting to text features and as i mentioned, they removed the headphone jack to make room for a bigger battery. You need the airpods, the Wireless Headphones in the future. Some of the very interesting other features includes an augmented reality feature that i got to test as well. Stuart is it worth the money . Susan its 1,000 for the larger screen. 950 for the smaller. I am playing with it. Its so impressive because its 3d handdrawn graphics that actually track you and motion of the video throughout. Thats incredible. Something i havent seen before. Stuart did you get one so you could do that with it . Susan a big announcement, microsoft made a surprise announcement and theres a Big Partnership to bridge android and pc windows powered devices in the future. Its probably necessary for samsung since microsoft is doing so well. [ speaking simultaneously ] stuart now, the guy behind victorias secret, hes a billionaire, he says Jeffrey Epstein misappropriated a lot of money. Epstein is currently under indictment for alleged child sex trafficking. Ashley epstein had been given sweeping control through a power of attorney document going back to 1991. Once these charges surfaced against epstein, wexner, the billionaire behind victorias secret, the l brands company, started to get into his accounting and said that he noticed in january of 2008 mr. Epstein, he says, transferred 46 million worth of investments to a wexner Charitable Fund and says i had no idea this was going on, i did not know that was happening, but all of that money, every dollar of it, was originally wexner family money. This is just getting into it now. There could be more coming. Stuart not good at all. All right. We will open the market in exactly four and a half minutes. The market will go up. The dow, about 150. The nasdaq, 50 points. Back with the open on wall street. What a difference from yesterday. Introducing the allnew chevy silverado. With fifty industryfirsts. Its the strongest, most advanced silverado ever. Stuart now, the Mitch Mcconnell campaign has been locked out of twitter because they posted a video, the campaign posted the video of the protesters calling for violence at Mitch Mcconnells home. Tell me more about this. Susan the standoff is still continuing, because twitter says that posting this type of video violates rules on certain offending content and that includes posting video that explicitly calls for violence. Team mitch of course says this is ridiculous. Stuart it is. Susan it is, because they are posting the video of real world violent threats that are being made against mitch outside his home, mind you, and they say this is political bias because for instance, look at Joachim Castro of san antonio, what he posted in terms of all those donors to trump. His account is still operating. How is that fair . Stuart Mitch Mcconnell, it was a news event. Not allowed to put a news event . Ridiculous. Were off and running. Here we go. We are up already into triple digits. 118, 109, back above the 26,000 level with a gain of getting close to a half percentage point. Thats the dow. How about the s p . That is up a half percentage point. Nice gain. 15 points. How about the nasdaq . That is up. 7 , a better percentage gain, 55 points higher. The tenyear treasury now yields 1. 75 . I cant believe it. What a difference in 24 hours. How about gold . Way up yesterday. I think its way down today. Well, its down 14 bucks. Just above 1500 an ounce. Oil . Well, its reversal day. We are up 1. 30 at 52 per barrel. We have Gary Kaltbaum with us, scott martin, susan li, ashley right next to me. What a roller coaster yesterday. Gary, i will start with you. What was that all about . Very simple. The dow went down 1841 points since the high of last week and has to bounce somewhere, and youre getting it. On top of that climactic plunge over the last few days, i think thats reversed. They also sent two fed heads out to stanch the bleeding. Nearterm probably the worst is over. Lets see what happens in a week or two. Im not quite there that were out of the woods. Stuart scott, i will ask you the same question. What was that all about . You tell me. Well, i guess a thin trade, obviously. Machines, algorithms kicking in there. A relative expression of really what the risks are to this market that are out there if things continue to go badly with china, if we continue to have issues other places overseas. To me, i would add to garys points which were well put, gold, too, is something we talked a lot about as a safe haven, as something to own because it doesnt act like stocks or bonds. That became a nice haven over the last couple days, as stocks went crazy. Stuart back to you, gary. I think you believe the fed is going to be dropping rates rapidly and soon. Thats what youre saying . They sent the two out in the last two days to stop the market from going down so they can wait until the end of september to lower rates but if the market does not cooperate and we start heading south, drop another 500 or 1,000, i think the fed will immediately lower rates. They are targeting the market i think we will get one. Stuart scott was chiming in saying he thinks were going to get a rate cut right from the fed. You think that . I think we are, stuart. I dont think the feds going to wait. Garys right, if the markets fall out of bed a couple more times, definitely it accelerates the probability but i will tell you, even with the bounce we have seen in treasuries in the last two days, rates are still below the fed funds rate even on the long end of the curve. They are being begged by the open market rates to cut. Stuart this inverted yield curve where shortterm rates are above longterm rates, supposed to predict a recession. Scott, you tell me, are we going to get a recession . I think we may get a slowdown. I dont know if it will be a fullon recession which is by definition two quarters of negative gdp growth. But i can see a zero print in there if things continue to struggle with china, if we continue to see weakness overseas in say europe, especially. So yes, i believe we will get a significant slowdown. I think thats why you are seeing rates plummet not only here but around the world. Susan its normal to see a correction in a longterm late cycle bull market which is what we are seeing right now. But i would say its been encouraging. Last night you had china setting the yuan at seven again, no reaction, because we got better than expected exports for china and also better also data from france as i mentioned earlier. So the world is not collapsing. We need to keep things in perspective. Stuart very good. We are five sorry, four minutes into the trading session and we have a complete reversal from everything we saw yesterday. Im not going to say back to normal. We are back to where we were 48 hours ago. Lets move on to lyft. They reported this morning. They lost less money, they booked more riders. The market likes it. Its up 8 . Nice gain there. Gary, lyft and uber shares, still under water since the ipo. Would you, Gary Kaltbaum, touch either of them . No. Look, all we have is a company that had a gargantuan loss but beat a bigger gargantuan loss. Just doesnt do it for me. My thought process, i want to buy companies that have great earnings and revenue growth, growing a business, actually doing something and making money. By the way, uber, every time they drive somebody around, they lose 67 cents. Sorry, not a great Business Model for me. Stuart okay. Lyft down 9 , is that right, producer . Since the ipo, lyft is down 9 . So scott, do you think that is a buying opportunity . If youre down 9 since the ipo, and you are up 8 this morning, you buying it . I tell you, i think you probably missed your chance on lyft when it actually swelled downward a little bit earlier in the month and certainly last quarter. I think actually, the opportunity here is uber. I actually like uber, in fact. I think ubers got a nice diversified Business Model. Garys right, they do lose money whenever they pick you up but they have uber eats and also the selfdriving car stuff they stole from google. I like it better than lyft. Susan i will be watching uber earnings later on today and you know, it is subsidizing each and every ride because im looking at a 1 billion still being paid out in the quarter for this promotion, incentives, just to get drivers and to get market share. I think it will be interesting to see whether or not they measure up to the lyft metric which stuart uber before they report, they are up ashley going up ahead of earnings. Susan still below the ipo price at 45. Whats important here is they get more riders, they get more profitability and make more money off each and every ride and they tell us they are closer to profitability as lyft did yesterday. Accelerated. Stuart big picture again, now check the big board. We are up 120 points. Yeah, 124 as we speak. That is a half percentage point. Rebound. Lower profits at kraft heinz. That stock is hitting a record low, down 14 today. Better profits at keurig dr. Pepper. Thats up just 1 and change. Trip adviser, their earnings fell a little short. Nonetheless, okay, you got to explain, how is it the earnings fall a little short but the stock goes up 7 . Theres something im not getting. I will get it soon. Amazon and google remove listings for sales of gun accessories. That doesnt affect the stock. In this day and age, we report that kind of thing. Amazons back above 1800. Google is at 1184. Roku, they make those streaming boxes, plug them into your tv, watch netflix, stream on it, they gave a rosy forecast. More people gravitate towards streaming services. The stocks up 20 . Whoa. Are they a pure play in streaming, scott . Well, yeah, they are. I cant believe it, actually. Roku is also up a couple hundred percent before today year to date. They are doing very well. Heres what i think it shows you on streaming, is that the streaming world is big enough for many players. Netflix has been falling down a little bit lately but disney obviously is a big promise Going Forward into streaming. It goes to show you that streaming is going to be big, cables in big trouble. Ashley they went past 30 million accounts, average user, per user, 21. They are doing well. Stuart alltime high. Stock of the year, maybe. Who knows. Subway and beyond meat are teaming up for a meatless meatball sub. Can it be called a meatball sub . Ashley false advertising. Susan this is the stock of the year, up 800 since its ipo, beyond meat. As you are getting 20 ounces of protein in four ounces of a patty or meatballs, in this case. I would try it. Stuart it was over 200 a share, wasnt it . Now its 164. 240. Stuart thank you, 240. Has anybody here tried the beyond meat, the impossible burger, sorry, the impossible burger . No. Stuart anybody tried it . Susan at burger king . Stuart yes. Susan not yet. Stuart all right, moving on. This is intriguing. Dominos, pizza people, stockpiling pizza ingredients ahead of brexit. What . Susan yeah. Ashley they are. Look, this is stuart thats a long way in advance. Ashley well, october 31st. They get the flour and cheese inside the uk. Talking about frozen chicken, pineapple, tomatoes from portugal, those kinds of things, they are saying we crash out on october 31st, we may have trouble getting this stuff so theyre stockpiling. Other companies are doing the same thing. Medical companies are starting to stockpile stuff that they get from the continent. Fearmongering, maybe. Smart planning, maybe. There you go. Even domino pizza. Stuart Gary Kaltbaum, i think youre still there. Im very sorry, gary, what have you got on brexit . If they exit with no deal, october 31st, do we suffer . What do you think . I think everybody suffers. You cant do a brexit no deal. By the way, we are more than three years beyond the vote. What the heck happened over there . Theresa may. Look, a nodeal is bad news. Youve got to get some sort of deal. Its called semblance of order. When you are that big of a country, you have that big a trade with so many places around the globe, no deal, bad news. The reason why you are seeing the stockpiling is good planning by companies, you are going to see a lot more of that as we move forward, especially if a nodeal. Sell the pound. Stuart what . Ashley selling the pound. Im telling you guys. Its getting cheaper to go to the uk. Ashley very cheap to go to london right now. Stuart maybe i will go back for a couple weeks. Its 9 40. You know what that means. Goodbye, gary. Scott, thanks for joining us. Check the big board, up 86 points. Exact opposite of yesterday. Amc, check the stock. The movie chain, it says its got 900,000 people signed up for their subscription plan. Thats a big number. Later this morning, we talk to the companys chief executive. I want to know how they get people to come to the movies when streaming is becoming so popular. Stocks up. Everything is political these days including your diet. United nations suggests you eat less beef and rice in order to save the planet. Can you believe this . My take on that at the top of the 11 00 hour. I. C. E. Arresting nearly 700 Illegal Immigrants during raids at Meat Processing plants across mississippi. The states governor up next on that one. We all feel, we all love, we all cry. Its part of being human. Sonoma county declared a homeless emergency in 2018. You have to know the individuals youre serving to understand their needs. Working with ibm watson we can bring together data spread across dozens of departments. That gives us a fuller view of the people we serve. Dear tech, dear tech, we need to look after everyone in our community. And we want to help our fellow human beings. Stuart where are we now after 13 minutes . We reversed yesterdays losses completely and we are up 83 points on the dow, above 26,000. Better profits at the Parent Company of this network, getting a boost from strong showings in the Cable Networks and broadcast tv divisions. The stock, though, is down 2 . President trump considering commuting the sentence of the former governor of illinois, rod blagojevich. Why . Ashley because the president believes mr. Blagojevich has done seven years in prison and that is enough, he believes. Of course, lets not forget blagojevich was convicted on 17 counts of corruption, was sentenced to 14 years soliciting bribes, paytoplay schemes and so on and so on. But the president believes enough is enough. By the way, among those urging the president to do this is the reverend jesse jackson. Stuart so hes pressuring him. Trumps responding. Ashley seven years is enough. Stuart he could get out. Interesting. All right. Lets get to mississippi, where i. C. E. Raids on Food Processing plants overnight resulted in 680 arrests. Joining us is the governor of mississippi, phil bryant. Governor, welcome to the program. Good to have you with us this morning, sir. Thank you, stuart. Glad to be with you. Stuart now, they were illegals. Got that. But they were doing jobs that a lot of americans will not take. What do you make of that argument . Well, let me say i. C. E. Is doing their job. Im a former Law Enforcement officer so they are here as Law Enforcement, enforcing the federal law. If we are going to ignore these laws, we have to decide what other laws we may want to ignore. U. S. Attorney in the Southern District did a very good job of supporting them. This is a yearlong operation. Look, ive got 46,000 job openings in mississippi just now. 46,000 job openings. So if you want a job in mississippi, you certainly can go and find one. This i think is a great indicator of why the United States Congress Needs to pass comprehensive Immigration Reform. And until they do, we are going to continue to see our Law Enforcement do their job and enforce the law. Stuart do you see any sign that in the immediate future, or even in the distant future, we will get the kind of comprehensive Immigration Reform that you are talking about . Because we havent seen any of it yet, governor. I dont. But until companies that were affected yesterday begin to tell their congressmen and primarily their democratic congressmen how they are being affected, how states like mississippis being affected, 680 people taken out of the employment system is difficult for us. So the production of the poultry in this state is premier in our agricultural business. People need to call their congressmen. They need to reach out to benny thompson, for example, congressman here in mississippi. All our other congressmen and senators, and say we need comprehensive reform. Join with the president , lets get these problems solved. Stuart the left is describing these arrests overnight as horrendous and horrifying, other words to that effect. Do you support these arrests . Absolutely. As i said, im a former Law Enforcement officer. Those i. C. E. Agents took an oath to uphold the laws of the United States of america so they are doing their job. The people that were detained and many of them were detained and later released, as i understand this morning talking just this morning with our Child Protective Services executive director, there are no children that are not back with their parents or back with a relative so many of them were processed and released, given a court date later. Thats what the system was designed to do. Oh, by the way, designed by the United States congress some years ago when president obama and president clinton was doing much of the very same thing in enforcing immigration laws. So Congress Must act. Stuart governor bryant of mississippi, thank you very much for joining us. We appreciate it. Thank you, stuart. Stuart check that market. Dow 30, we show a lot of gains. Lot of green over there. Hepatitis a spreading in some of the nations biggest cities including los angeles, san francisco, philadelphia. Dr. Siegel says we could be dealing with a major epidemic if we dont take action soon. Hes on the show next. Hey im bill slowsky jr. , 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 our industrials are now up 43 points. We were up 120 a few minutes ago. One of those roller coaster days, maybe. Dont know how we close but right now were up 47. Yum brands closing about 500 dinein pizza hut restaurants. Going to replace them with carryout and delivery locations instead. No change for the stock. Sears closing more stores. 21 sears locations and five kmarts will shut down in late october. No point quoting the stock, really. Its up one cent, 2. 7 . Okay. Look at this pinheadline. If we dont act fast, hepatitis a will become a national epidemic. It was written by dr. Marc siegel who joins us now. First of all, hepatitis a, how is it transmitted . Usually through contaminated food and water. Food handlers give it to you. Unfortunately, its spread very easily in places of squalor, among the homeless. Thats why its becoming an epidemic. We just saw a state of emergency called in florida and in philadelphia. Stuart what happens if you get hepatitis a . Your eyes turn yellow, you get extremely fatigued, a high fever, muscle aches, joint aches, your urine turns brown, you cannot get out of bad. 60 go to the hospital. Stuart why do you say its an epidemic . Because its spreading like wildfire. Cdc says in the last three years alone we have seen over 20,000 cases in 27 states and its spreading again from the homeless to these centers and into the larger community. Its going to spread into the larger community. Stuart okay. What are you going to do about it . How do you stop this . Ill tell you one thing. One of the states thats not in the 27, new york state. Know why . Because under two republican mayors here, we expanded the shelter system. We need temporary shelters in places like los angeles, in san francisco, anywhere where we are having a homeless problem, where we are seeing drug abuse on the streets, we have to get people off the streets and into shelters. Then we can start with the hepatitis a vaccine. People on the streets are not going to take a vaccine. In tampa, they are going around, take the vaccine, people are refusing. That vaccine is 95 effective at preventing it. Stuart its a preventive. You take the vaccine and you dont get hepatitis a. But once youve got it, you can transmit it to other people but theres no cure . Fair enough. Weve got to get you off the streets when youve got it into a hospital, isolate you so you dont spread to it people next to you. Theres no cure but it will get better on its own. We can vaccinate against it. If you are sick, we have to keep you away from people. Obviously in homeless camps its going to spread from person to person. Stuart the American Civil Liberties union will not let you take Homeless People off the street no matter what the reason. You cant. Well, we built them in new york. 95 of the homeless in new york are in shelters right now. In l. A. , its 25 . 75 on the streets. Theres a myth going around its because the weather is so great. The state of california has got to build homeless shelters the way we have them in new york. Temporary shelters. Not talking about longterm housing issues, which they have that, too. But the issue is that people with Mental Illness on the streets, people with drug abuse on the streets, theres a lot of human waste on the streets, theres garbage. You cant just send a garbage truck and think thats going to solve the problem. Temporary shelters have worked in new york. Stuart all right. Dr. Siegel, thats what you say. We will take that as good advice. Thank you, sir. All right. Bad news for whatsapp users. The messages could be altered by a hacker. Really . Susan scary news. 1. 5 billion users around the world use whatsapp and this is really Security Firm Checkpoint Research found some flaws in whatsapp which basically makes it, it allows hackers able to intercept, manipulate messages meaning they can change the i. D. Of the person sending the message, they can alter the text as well. Can you imagine the disinformation and also the Security Breaches that would involve . What they found was that they were able to reverse whatsapps encryption algorithm, encrypt the data, change whatever is necessary, meaning the text context, reencrypt it and send the data. Stuart ouch. Susan i know. Scary. Stuart nasty indeed. Ashley create some difficult situations. Stuart couldnt it just. Yes. Susan facebook hasnt commented. Stuart next case. The feds issuing a new warning about iran. They say the country is jamming gps signals to get ships to travel into iranian waters. What are we going to do about that . Next one. Still waiting for someone on the left to condemn Joachim Castro for using twitter to release the names of donors to President Trump. Its personal targeting. I think its become a cancer on civil society. I think its wrong. I think its dangerous. I will say that forcefully at the top of the hour. Here we go. Varney continues. So. How ar . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. 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Check that big board, up 124, and yes, it is thursday morning, 10 00. That means Mortgage Rates. The number please. I live for this day as you know each week. Coming in at 3. 60 . Stuart yeah. Ashley on a 30year fixed mortgage. Last week it was at 3. 75. That is a 15 basis point drop. Susan wow. Stuart huge. Ashley freddie mac in the press release comes with this every week, Business Sentiment is no doubt declining but Consumer Sentiment remains very strong. They are also saying, of course these low rates, even if youre not buying a home, there will be increase in refinancing. Stuart real fast, bring in george c, annandale capital. George, i see this as a plus for housing, certainly for the refi market, therefore for the economy. What say you . No question, it is all positive. Good morning stuart. Purchasers of home and commercial real estate prices have gone up quite a bit lately. Even for someone who can borrow at wildly low rates, theyre really, really attractive for anyone who want to take on debt, prices of the underlying real estate themselves have gone up significantly. You have to be careful on price. I think consumer, the commercial buyer can afford to be patient right now, wait for prices to drop a little bit. Stuart i was going to say that. It looks to me like rates are going down on mortgages. Why not wait, if you can, so the can lock in even lower rate a couple weeks from you in . Is that a good strategy, george, real fast . I think patience is your friend. You can afford to wait unless you have to buy. Stuart look at any reaction to the lower mortgage rate, no. Its a lower mortgage rate. Right now the dow industrials are up 134 points. And now this. Congressman Joaquin Castro has released the names of 44 individuals and the names of their employers who gave them maximum amount of President Trumps campaign. He is the brother and Campaign Chair of president ial candidate julian castro. He did it to shame and out those who he says fuel the president s campaign of hate. This is wrong, and it is dangerous. He might just as wellput a target on the backs of the people he named. He is encouraging political violence. Later he said he didnt release private or personal information and didnt target anyone. Nonsense. In this context, announcing names and employers is targeting. Here is another example. The owner of the gym chain, soulcycle and equinox, will hold a fundraiser for President Trump tomorrow. He is now the target after boycott. Earlier this week, demonstrators appeared outside the private home of Mitch Mcconnell, chanting violent language to keep him awake as he recovers from a shoulder injury. Democrat candidate, tim ryan, will organize a caravan now, to mcconnells house. Reminds me of Maxine Waters encouraging the mob to confront republicans whenever they appear in public that was incitement of violence. After she said it trump people were chased out of public places. I have not seen any democrat, senior or otherwise speak out against personal targeting. And will anyone on the left take responsibility if, heaven forbid, there is another attack on republicans like the one that badly injured Steve Scalise and almost wiped out the republican congressional leadership. Targeting has become a cancer on civil society. It is wrong. It is wrong and dangerous. Get right into it with lawrence summers, lawrence jones. Lawrence summers is the former treasury secretary. I dont want to dabble with that. Stuart okay. You are the editorinchief of campus reform. Com. What do you make . I say this targeting, whether it is in the tweet about trump donors or about people supporting trump with a fundraiser, i think flat the out wrong and dangerous, what do you say . I dont like it and i think there is a culture of trying to shame people with different political views. Stuart yes. Take the university of texas in austin. They are targeting Young Conservatives right now that are incoming freshmen, coming in, theyre doxxing them, to put personal information online. The attorney general of texas is now been asked to get involved with this. There is a culture from the college campuses, all the way to mainstream progressives that if you share opposing view, not only are you a white nationalist, or a racist, but you should be shamed and condemned. I think that is really dangerous for the country. People have a right to their point you involve. They can say i dont like your point of view but that is not what theyre doing. Theyre shaming people and there are people that will act out on those things. That is why you got antifa. The left never condemns antifa. They say they are combating racism. When they attack journalists is that combating racism . They are encouraging anarchy. The entire country should be concerned about where were heading right now, when it just comes to targeting oppose views. Stuart just some language being used right now. The New York Times regularly calls President Trump a racist. It is not offered as a subjective judgment, not offered as opinion, it is stated as a fact, that is wrong. You have moved on being a racist to a bigot and white supremacist. One thing to say i dont like the president. It is one thing to say i dont like the president s policy. One thing you can be for sure about donald trump is that he sees people in two categories, friend and enemy. If you say nice things about him, he says nice things about you. If you say bad things about him, he will swing so hard. You can talk about john mccain. He loved the military but when john mccain hit him, look, i dont like people that get captured. Im not saying that it is right. Not saying the way he swings sometimes is right. What i am saying a lot to say he is not a equal opportunity swinger at people when they attack him. Stuart you are a member of the equinox gym chain. I love it. I love it. Clean gym. Stuart you know there is a boycott being proposed here because the owner and founder i believe is going to hold a trump fundraiser. Go for it. I get tired of waiting for certain swings. If they want to start boycotting it, a lot of americans, maybe would cause the price to be dropped down because, all seriousness aside, i think it is ridiculous. A lot of these people, look a lot of these business people, give business standpoint. Their business interests. They dont care about social policy. They care about Economic Policy you cant say republican politics isnt good for business these days. Look at your returns. Do you have more of your money. Stuart man, if you can afford to get into equinox, youre doing well, son. Sir, thank you. Thank you, brother. Stuart brother, see you soon, lad. Check the big board, nice gain, nice gain, everybody. We are 37 minutes in, were up 134 points. Next one. Amc entertainment a Movie Theater chain of course, reported profits earlier today. We have the ceo on the show at the 11 00 hour. The stock is a little bit higher, 3 1 2 . They have done very well with the Subscription Service. More on that momentarily. Check back with george seay. There is a lot of recession talk going on right now. There is messing around with Interest Rates, shortterm rates are higher than longterm rates. That means recession. Are we going to get recession . Oh, we certainly will at some point but it really humors me when pundits get up there say there is 65 chance sometime in the next 90 to 105 days well get a recession. Nobody knows when the next recession will start. 10 years plus into an economic economy, highly likely a recession is coming sooner rather than later. Sometime in the next self years were going to get recession. Investors should be more cassius how theyre investing because of that. Stuart okay, i asked the question of everybody on the show today, whats, what was that all about . Im referring to yesterday. At this time yesterday we were down 600 points. Now were backp again, total reversal. Were way down on Interest Rates. Now straight back up again. Tell me what that was all about, george . It reflects the fact that people dont really know when that recession is going to come and theyre scared. They were in august, which is one of the worst stock market months of the year, volatility almost always increases in august. We typically get a negative print in august, and markets are reflecting that. People dont know which direction they can hold on to where the market is going to go. Stuart is it too simplistic, if i say, nothing to worry about . I think that there are some things to worry about right out there right now but for the long Term Investor ignore it. Maintain the course, look to the horizon because it is a longterm game. Stuart that is exactly what im going to do. George, thanks for joining us. See you again soon. Thank you, stuart. Stuart President Trump threatening even more tariffs on chinese goods. Well talk to a former ambassador to china who says this threat of new tariffs is actually a slap in the face to beijing. He will make his case on that one. Iran accused of jamming gps signals to get ships to travel into iranian waters. We issued a warning said there are two incidents of navigational interference. What will it take to stop that . Watch out skype users. New report that microsoft contractors may be listening to your personal calls, including phone sex. Well explain it, the whole story, after this. My insurance rates are probably gonna double. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Stuart the story this morning is total reversal from yesterday. Were now up 134 points on the dow, 26,100. Look at roku. They make those streaming boxes, plug them into your tv, watch the streaming services, netflix, hulu, et cetera, et cetera. They have upped their forecast. With more people cutting the cord, moving into streaming you can understand why the stock is up 20 . That could be the stock of the year. President trump threatening to slap more tariffs on 300 billion worth of chinese products. Tariffs could go into effect on the first day of next month, september 1st. Mach baucus, with us, former u. S. China. Welcome to the program. Always good to see you, sir. Thank you, stuart. Stuart why you think this is a slap in the face to beijing . Why . The two countries were talking in shanghai, didnt make much progress but they were talking and i think, it is very important for to us just keep working with china, keep talking. I know many people that i that that is the chinese tactic, just talk, talk, talk, not get much done but my experience, when i was ambassador in china, i had developed something kind of corny, i call it my three ps. With the chinese you have to be patient, positive, persistent. You have to stick with it, stick with it, stick with it in a positive way eventually make some headway. Meantime while were talking for the United States to threaten another tariff on talk, i think its a slap in the face because it really shows bad faith. Well not keep talking. Well keep acting. All these tariffs stuart hold on a second, mr. Ambassador. We had an agreement with china about many, many issues and then the chinese revoked that agreement, said were not going to live up to some of those terms. When mr. Trump heard that, he said im not handling this, not going to have it. Youre facing more tariffs on september the 1st. Isnt that a legitimate response to china reneging on something already they agreed to do . Well, not really. First of all, in all trade negotiations, i have been part of trade negotiations, other negotiations where nothing is agreed to until everything is agreed to. You dont have a final agreement until you have a final agreement. Now the difference is this, back then, to the degree which the United States view or the chinese view is accurate, that, those were private negotiations. Maybe china did back off. Those are private negotiations, sitting on the table. This is different. This is negotiating in shanghai or waiting for the next negotiation, we publicly slap a tariff on them. That is, it is public side on top, rather than private talk which i think is quite difficult because the chinese, it is very asian, got to save face, as it were, no pun, but it is hard to save face when you start to slap them. Stuart in your judgment does this drag on all the way until the election . I very much fear that it does. I think neither side see as way out yet. Dont forget the more sides we dig ourselves, both sides in the hole, the deeper we dig, the harder we get out of it. We need each other, economically, investment. We have to find a way we can work together. Stuart one last one. I said on this program, i think, this is my personal opinion, that President Trump and america is in a stronger position in this fight with china than is china. Would you agree with that . Well i think it is true that china is probably getting hurt more than the United States, however, the chinese can withstand pain more easily than can americans. In china the phrase is eat better. There is just a, through the cultural revolution, the great leap pour forward, that tradition is ingraded in china, they can stand a lot more pain than americans. Stuart mr. Ambassador, we appreciate you being here. Thank you. You bet, thank you. Stuart i will stay on china with this news. President trump is banning federal agencies from buying products from five chinese tech companies. Which companies, susan. Susan huawei, zte, high vision, and dacwa. They believe the companies could divulge trade secrets and other information into beijing. This will apparently go into effect. They have to set the deadline for august 2020, for the broader band on federal contracts. Huawei is on the u. S. Trade blacklist. If youre u. S. Company selling them chips or services, you need a waiver which theyre Encouraging Companies to do but huawei cant sell into the u. S. Market and theyre not participating in the buildout of 5g, because again concerns being a conduit for chinese spying. Stuart hardline on security i think in this respect, susan, thank you. Talk about high tea, the maker of arizona iced tea, wants to get into the cannabis market, sell potlaced, thclaced gummy candice or vape pens. Were not talking about cbd, the stuff that gets you high, thc. What a story, arizona iced tea. Ashley yes indeed. Stuart kodiak robotics, another driverless truck startup. They are making deliveries in texas. What about liability . Arent they worried about lawsuits if one of the trucks gets into an accident . The kodiak ceo is with us later this hour. vo the ant mindlessly marches on. Carrying up to 50 times its body weight. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now from the 5am wakers, to the 6am sleepers. Everyone uses their phone differently and in different places. Thats why Xfinity Mobile created a Wireless Network that auto connects you to millions of secure wifi hot spots. And the best lte everywhere else. Xfinity mobile is a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. Stuart all right, were up 140. More than half a percentage point higher. That is true across the board. A rally today to replace losses from yesterday. How about lyft . They raised their outlook. Lost less money than expected. The postipo lockup end this month. In other words, insiders can sell the stock on august 16th if they wish that could take the stock down a bit. How about uber . It reports profits after the closing bell. Already it is up 5 . That is uber. Watch the results on fox business at 4 00. Maker of arizona iced tea getting into cannabis business of the let me get this clear, this is not cbd. This is thc that gets you high . Ashley they are in partnership with a dixie brands, a Cannabis Company sells gummies, all laced with thc marijuana. Dixie operates in six u. S. States. 11 states allow recreational marijuana. They will be sold through licensed dispensaries. That is interesting on the medical side. They have right to buy up to 10 million in cannabis country. This is a big roll of the dice for arizona iced tea. Because you cant, not allowed on the federal level. You cant move across state lines with this stuff. It is very difficult to do banking. Banks are very wary to take profits made from, you know, cannabis and other drugs. Stuart how do consumers react to drinks containing thc as opposed to smoking it. Ashley right. Stuart i have no idea. Ashley there you go. Stuart new report that microsoft contractors are listening in to voice recordings gathered from skype. Susan that would seem to me to be a gross intrusion of privacy. Susan it is. We heard this before. Amazon, alexis speakers, google, apple as well. Looks like motherboard, which is the tech site, they apparently got hold of awed corecordings, translated audio conversations through skype which microsoft owns. Some were pretty intimate, talking about their personal matters, weight loss, relationship problems. Stuart and sex. Susan get to the sex. Fine. So the contractor also heard cases of phone sex as well. This is legal . Microsoft said they had users permission to collect and process their data, however, motherboard, the reporter and website said they didnt know, they didnt explicitly say there were human contractors listening to this personal information. But as i mentioned to you ashley no robots listening. Susan apple, google, decided to suspend use of human contract to review voice recordings. Because of translation, helps you better improve our products. Stuart i think will cut down the amount of skype sex that is out there. Ashley that is a bold statement. Stuart bold statement. Susan you think they will think twice . Ashley they couldnt care less. Stuart what a world we live. Ashley oh, yes. Stuart i have a headline for you in the New York Times of all places. Dont assume trumps Approval Rating cannot climb higher. It already has. Thats in the New York Times . They must be killing them to print that well be back with the story in a moment. 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Flights, hotels, cars, activities, Vacation Rentals. Expedia. Everything you need to go. Is you got to be free, come together right now, over me the. Stuart susan you know this one . Susan yes. Stuart a breakthrough. This was late in the stage. Ashley this was on the abbey road album. Stuart was it . Ashley 1969. Stuart i have a news item on that. You will share it with us. The beatles release a remastered box set of abbey road . Ashley yes it is. It was on this day 50 years ago, that the iconic picture taken on the beatles walking across the zebra crossing abbey road with the infamous white volkswagen bug on lefthand side. That was recreated. See that bug up there. A volkswagen bug was put back in that space. Hundreds and hundreds of fans have descended on this iconic place to recreate that picture there 50 years later. Yes, they are doing a remastered, basically a remixed version of the classic, many people voted abbey road as the beatles best album. That is up for debate but many have. Stuart i like to listen on the old vinyl. Ashley a little bit but the sound is purer. Stuart the sound is more pure, vital, more exciting. Somehow or other. Ashley agreed. Stuart this is not part of this modern world. Susan apparently not. Stuart we better get back to the markets. Dow industrials up 150 points. We will take that total reversal from yesterday. I want to get back to the editorial which i released on the world at the top of the hour. It said democrat congressman Joaquin Castro tweeting out the names and employers of trump donors, i said that is flatout wrong. Doug schoen with me, former clinton pollster, fox news contributor. Why arent more democrats pointing out that targeting of that kind is wrong . Because we live in a totally polarized age where coming together, which is what i believe we need to get background checks, red flag laws done is secondary to the blame game. Stuart you shouldnt be calling as, mr. Biden said, calling the prime minister, im a little confused here. Terribly sorry about that. Joe biden called the president a white supremacist. If you want to bring people together, dont say things like that. Look what i would be saying is mr. President , call the democrats and republicans senators and congressman back to washington, end the rhetoric on all sides, get legislation done. Thats what i would say. I think it is right, reasonable responsible, and ashley, i like meet the beatles. Today, come together is my favorite. Ashley very good. Stuart joe biden does not bring people together. The country does not i said on all sides. Stuart if youre calling president names like that. Your guy, joe biden should knock it off . I said he should. I said what i would like people to say. Come together, get legislation done. Ill say it again, biden shouldnt do it, the republicans shouldnt do it, trump shouldnt do it. No one should do it. Stuart stop running on namecalling. Im not stuart im talking about you, that is what the democrats are doing. We need an alternative, which is coming together behind legislative solutions i believe will make a difference. Stuart i will move on, i cant budge you from your coming together position. Dont you support background checks . Stuart of course i do. Yes, yes, yes. Stuart you were talking about coming together. You do not come together if your leading candidate, the leading candidate for the Democrat Party is calling our president name like late supremacist. You will never come together like that. I would vastly prefer him and republicans to come together around legislative policy, of course you support. Background checks. Lets come together. Stuart i didnt say anything about that i said you guys should knock itself. It is an insult to call our president a racist, a bigot, a white supremacist, your leading candidate is doing that. And it is outrageous. I think you as a democrat, wait, wait, you should be railing against this. Youre still a democrat. What the hell is going on with your party using names like that to our president . Ill tell you why. Because we could spend all week and all day blaming different people and different sides. You would be right to do it. Youre right today. Here is whats more important. Getting legislation passed. Background checks, lie and try, red flag. It will make a difference. Stuart did you see this in the New York Times . I think it is in there today, an oped. The headline reads, dont assume trumps Approval Rating cannot climb higher. It already has. Youre a pollster. I am. Stuart that article quotes Gold Standard polls where you talked to people on the phone or et cetera, et cetera. Sure. Stuart his Approval Rating is going higher. In my opinion, it is going higher because of the attacks on him about white supremacist, racist, it is not working. Your tactics are not working. Theyre not my tactics. I have very different tactics. Stuart i would like to hear condemn it . Condemn . Stuart biden for using the correction. I have done it three or four times . Have i not said that. I have not said four times, biden would do much better job, rather than attacking, coming together around three legislative solutions. Stuart how about this, joe widen is flatout wrong to call our president a white sue supremacist. Are you going to say that. He has the wrong priorities, wrong things and wrong time. Stuart im not trying to purity words in your mouth doug. Im asking a clearcut statement what has gone wrong with joe biden and rest of them. I wish joe biden, the other democrats, and republicans who have been attacking the democrats lower their tone, lower their voice, focus on legislation, solve problems. Dont engage in what you call flanging matches. Stuart were coming together. We are, on your last point, trump is the favorite for reelection. The polls i think are accurate. And i believe given this chaos on the democratic side, you and i in about a year will probably be talking more likely than not, about Donald Trumps lead and potential victory, not change. I wish i didnt have to say that but i do believe it. Sadly. Stuart come together, baby. Absolutely. Stuart thank you, doug. Thank you. Stuart thank you very much. Ashley it was a long and winding road. Thank you, ashley. Stuart very good. Why dont we do it in the road. Ashley help. I need somebody. Susan help. Stuart maybe you can drive my car . Two new versions of the galaxy note phone are out. Should apple be worried. Have you seen them . Susan i have seen them. Theyre impressive. Galaxy note has dedicated fan base. Samsung is still the worlds number one smartphone shipper. They shipped 75 million in the Second Quarter of this year. Yes, you get a new galaxy note 10, 10 plus, also 5g version with a larger screen. 6. 8inches. Edge to edge infinity screens, that stylus pen. Stuart what is with that . Ashley stylus pen. Stuart steve jobs said i dont want that. Use the fingers. Susan it was pretty impressive, i dont know if we have video, hand writing to text function is very good. Some people dont have very good handwriting. I dont have great handwriting. It looks like a prescription from a medical doctor. I write it on the screen. Write on there, fox business. I tap it, goes to text. Share it Via Microsoft word or send in an email. That helps a lot of people. There you go. See that . Ashley i like that. Susan augmented reality part. Like 3d hand drawn, will we get that on the screen, 3d hand drawn graphics, tracks motion of video, no matter what you do. That is pretty impressive. That is new technology right there. Lets look at technology wars. Apple dropped down the list, number four. Number four, behind, samsung as i mentioned is number one. You have huawei still number two. Opo from china, have you heard of them . Stuart no. Susan number three in the world. Apple has fallen to number four. I dont think its a applestoapples comparison, opo makes much cheaper phones, 1 5 of a price of independent phones. Stuart apple number four. Susan thats a big development. Stuart that is worldwide . Susan global. They will launch new devices in september as well. Stuart good stuff. Iran accused of jamming ships gps systems so they will travel into iranian waters. At least two ships reported gps interference. What will we do about that . We have a defense expert on it. The Princeton Review out with a list of Top Party Schools in america. Did your alma mater make the list . Find out. More varney 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. Theres a company thats talked than me jd power. People 448,134 to be exact. 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Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs. Oh, and happy birthday. Or retirement. In advance. Stuart tweet in from President Trump. The feds high interest level in comparison to other countries keeping dollar high, making difficult for our great manufacturers like caterpillar, boeing, jon deere, our car companies, and others to compete on a level playing field. There is no quantitative tightening the dollar makes it possible for our companies to win against any other competition. We have the greatest companies in the world. There is nobody even close but unfortunately the same cannot be said about our if federal reser. They it it wrong every step of the way and were still winning. Can you imagine what would happen if they actually called it right . That was released a minute ago. Strong suggestion that the fed was wrong all along, they should be lowering the rates rapidly. The dow industrials are now up 176 points. So far no direct, what is the word susan repercussions on market. Stuart repercussions. Just end all of my sentences. Get to a certain age. That is what happens to you. A warning to commercial ships. Iran may be jamming gps navigation systems. That would force ships to sale into iranian waters. Guy snodgrass, with us, former knaval aviator. Stuart surely we goat the technological ability to stop this from happening. Why dont we do it . There are things you can do. So the gps signal, coming down from satellites in space. That is what a nation like iran and others have capability to do, employ the electronic jammers, station them throughout the gulf. I read a story they actually had a jammer stationed on an island in the gulf so every ship is being affected by this. It is very difficult to overcome the jamming. That being said, ships, us as a nation, we do have the ability to use inertia navigation system. If you dont have access to Global Positioning system, you rely on your own navigation to stay safe. Stuart a provocation however you slice it. Another one along similar lines. Suspected iranian hackers breached bahrains government computers. That is cyber warfare. Is this escalation by iran . Im not sure it is es can race. Maybe no bones about it, iran uses any means to sow discord in the region. Theyre using cyberattacks, become many nations new normal to conduct cyberattacks. For them to blake into i believe bahrains National Security agency, to exfiltrate information, to get better insight to what bahrain, saudi arabia and others are doing, while not on its own an escalation, it is certainly very alarming situation. Stuart didnt you used to be a top gun instructor . Yes. Stuart you did, didnt you . Thats right. Do you think that we still need Fighter Pilots . Are they still relevant today in the age of the drone . Oh, of course, come on. That is a silly question. You need Fighter Pilots. Youre right. Technology has advanced tremendously in the last two decades. So you do have the capability of using unmanned aircraft. You do, in a lot of, lot of areas you want the human in the loop. You want a man or woman who understands what is occurring real tile. They can take in a lot of information, see what is happening on the ground. They can assess the situation. In recent years people have posited it is possible because you have longrange missiles, you just mentioned nations ability to use cyberattacks, why even have manned fighters or should you be prepared for some types of warfare in the post like dogfighting . You can do eps jamming, if you find yourself in a conflict you might find yourself in a dogfight with other aircraft. Those are valuable skillsets we need to develop. Stuart i will ask you the question anyway, who are the best Fighter Pilots in the world, israelis, brits, americans . I would say it is, you could say its a tie. Obviously the United States are fantastic. The israelis are very good what they do. That is a skill they have to have because theyre under existential crisis every day of the year. The brits are very good. What you can say every nation has its own area it wants to focus in on. Israelis are good with aerial dogfighting, air to surface attacks. Brits have other areas they focus on. In my case as former f18 fighter pilot, i served in the middle east and indopacific out of japan. You have to be good at a broad range of topics. Stuart you miss it . I loved it. Stuart i dont dont you go back . What is it . Stuart why dont you go back . Are you too old . You have a career path. Stuck on the career path as you move forward. It was great working with a lot of men and women fantastic what they do. Were in good hands. Stuart i didnt mean to impugn your age. I had a brother who was a fighter pilot, they were out of business by the time they got to 25. The handeye coordination slowed down. That was a long time ago. Guy, thanks for being with us this morning. You bet, stuart. Stuart not careful, you will be back here. You bet. Stuart how about this one . Driverless trucks are on the road in texas . They are starting to make deliveries. And we have got the company that makes them, after this. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you preorder a new samsung note. Click, call or visit a store today. And my side super soft . With the sleep number 360 smart bed you can both. Adjust your comfort with your sleep number setting. So, can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Will it help me keep up with him . Yup. So, you can really promise better sleep . Not promise. Prove. Its your last chance to save up to 600 on select sleep number 360 smart beds. Plus no interest until january 2022 on all smart beds. Ends wednesday. Stuart the dow up 177 points. While were looking at this, for one second, we got the latest Mortgage Rates this morning, came out at 10 00 this morning. Look at the 10year treasury yield. It is now 1. 75 , and, the 30year fixedrate mortgage coming in at 1. 6 . That is a big deal. Im sorry. Sorry. 3. 6 . Get that right, stuart. 3. 6 . That is down, way down from last week when it was 3. 75 . So maybe a shot in the arm for refi business today. Driverless trucks, yes, they are on the road, making deliveries, this is in texas. Kodiak robotics is the company that builds them. Don burnett is the ceo. Don joins us now. First of all, don, i didnt know youre actually in business, that you have got these trucks on the road, making deliveries. Confirm that, please. Morning, stuart. So, we are, were live in texas and we have been making deliveries now from dallas to houston. Our trucks are out on the road, theyre in the public view. You can see them on the highways of texas. And so that is the best way to confirm. Stuart have you a real driver in the passenger seat . So, for now this technology is in Testing Development phase and for the foreseeable future, until it is absolutely safe, well always have a safety driver in the passenger seat, im sorry in the drivers seat. Stuart have you dealt with liability . If one of these trucks gets into an accident, no driver is behind the wheel who is liable . For now the trucks are owned and operated by kodiak robotics. Ultimately the buck stops with us. Reliability rests with us. We take safety as our absolute top priority. So at the end of the day our safety drivers are professionally trained, extremely experienced truck drivers. We take extra precautions so nothing happens on the road with our technology. Ultimately the liability rested on kodiak. Stuart we have some video there the truck is on a very wide road with very little traffic. The road is pretty straight. When will you be able to get this thing going to the point where you go around more corners, get into more congested areas or even urban areas . How far away . Thats a great observation. So that is actually, that is specific to our approach. We wanted to develop this technology in places that are less challenging technically, than the urban environments that youre describing. There is a lot of Companies Working on this technology across lots of difficult operational domains. And, we have been working on this as an industry for many, many years. The technology is developing relatively slowly. That is why at kodiak, we decided to focus specifically on what we call the middle mile, for freight delivery. That is onramp, highway, offramp use cases on long, straight, wide open roads. That is where we think we can develop the technology and deliver on that reality sooner. Stuart don burnett, kodiak robotics. Thanks for joining us. Love to see you again. Very interesting story. Appreciate it. Thanks for having me, stuart. Stuart sure thing. The United Nations wants to tell you what to eat. An Environmental Panel says if we want to avoid climate catastrophe, we need to eat less meat. Theyre politicizing your diet. My take on that, coming up. Plus we have the ceo of amc entertainment. Theyre still managing to get people into Movie Theaters because their Subscription Service has been very successful. Are they worried about the streaming services coming on now . Well ask that question to the ceo, back in a moment. Stuart everything is political these days, right . Everything. Now its your diet. It has to be viewed through the political lens. Why is that . Well, because the United Nations tells us what you eat affects the climate. There is the magic word, climate. You must sacrifice if you want to save the planet. The u. N. s Intergovernmental Panel on climate, remember them, suggests you eat less beef and rice. Okay. Weve heard about the beef. Thats a lot of co2 loaded methane from cow flatulence and cow manure. But the dangers of rice, new to me, at least to me. Heres the story. The worldwide growing of rice can have the same warming effect as 1,200 coal power plants. Repeated flooding and drying of rice paddies creates conditions for microbes that produce a greenhouse gas, nitrous oxide, so knock it off. Hear that, india and china, where rice is a staple of the diet . Hold on a minute. I thought the hated co2 was supposed to make crops grow faster. Yes, it does. But, there is always a but with the climate crowd, wheat grown with higher co2 levels has less protein, less zinc and less iron. Im confused. It just seems like you cant win. There is a bottom line, though. The United Nations wants a revolution in farming and diet. They are right in line with aocs Green New Deal and new york mayor de blasios meatless mondays for school kids. Shut up and eat your broccoli. Climate change has politicized everything, but voters have consistently rejected almost any sacrifice. If the democrats message in 2020 involves giving up this and giving up that, i think they lose. The third hour of Varney Company is about to begin. Stuart you might want to stay for this. Later this hour, pete hegseth joins me. I want to know what a real meat and potatoes army guy thinks of this whole eat your veggies stuff. Keep it on varney please. First, we have to get to your money. Nice gain today. Very different from yesterday. We are up 183 points. Thats. 7 , 26,200 almost. We are always watching the tenyear treasury, especially today, because its bounced back totally from yesterday, where it hit 1. 59 . Now its 1. 75 . Thats a wild swing indeed. A total recovery. Now, we have heard this time and again from the president. America has the best economy in the world. Is he right . Bring in jeffrey cleveland, chief economist at payden and rygal. Do we have the best economy in the world . Absolutely. The u. S. Economy is holding up very well given all the global uncertainty we see out there, global slowdown. If you match up the u. S. Versus say europe in the first half of the year, europe grew at about 1 rate year on year and the u. S. Economy grew about 2. 6 year on year over the first part of 2019. So were outpacing our european cousins and weathering the global storm quite well. Stuart why is this . Is this because President Trump has cut taxes and lowered the red tape . I know thats what you want to hear, but the reality is europe is still mired in the fallout, the aftermath of a crisis which happened ten years ago. They havent fundamentally fixed their banking system. I think they are applying the wrong medicine, stuart, to their economy, the negative Interest Rates that were seeing in europe, and i think that is hampering growth. Meanwhile, in the u. S. , we cleaned up quickly after the financial crisis. We moved on and we are growing, we have a better rate of population growth, better productivity growth and those two things are really what matters. Now, regulations can affect productivity and innovation and risk taking and capital formation. So its not that regulations dont matter. They do matter. They are definitely part of the equation. But i think its a bigger story than that. Stuart look, jeffrey, you are an economist so you heard this theory that when short term rates are higher, than long term rates, this inversion thing, thats supposed to mean you are going to recession. Weve got the inversion now. Short term rates, higher than long term rates. Do you as an economist, do you think we are headed for recession . I think the death of the u. S. Business cycle has been greatly exaggerated. The trick with the yield curve, yes, short term Interest Rates are higher than long term Interest Rates but there is often a very long and variable lag between when that happens and when a recession begins. If you recall last time around, the last Business Cycle, the yield curve inverted in february of 2006. The equity market performed through 2007, peaking in october 2007, and the Business Cycle in the u. S. Did not end until december of 2007. So if you are watching your money, if you are worried about your portfolio, you should look at the yield curve, yes, but be cautious. Its not a precise measure. Theres a long lag between the inversion that started the recession. I think we still have more time. U. S. Growth to me, i think we are going to top 2 growth, maybe 2. 5 growth this year, which is not a recession. I think i said that ten times. Not a recession. Stuart okay. Well, look, im thinking politically, not just about the market and the money, im thinking politically, theres an election in 2020. Do you see a recession before the november 2020 election . I think nobody can see out further than, say, six to 12 months so if anyone is telling you whats going to happen in december of 2020, i would shut that off and ignore them in terms of your portfolio. I think over the next six to 12 months, we do not have a recession. The probability is still quite low. What could change that, what would change my mind, stuart . This morning, the data comes out every thursday morning, its the initial claims data, its a proxy for layoffs. 209,000 layoffs, lower than we were a year ago on the layoffs gauge. Watch that gauge carefully. If it starts to creep higher, then i might change my tune. But as long as we still see low layoffs in this country, that tells me a recession is not right around the corner. Stuart its kind of the firing rate, isnt it. The initial jobless claims, its basically how many people got laid off. 209,000, thats close to an historic low, isnt it . It is very close to the 50year low. Its been low for quite some time. We were a little bit higher a year ago. So the fact that we have been going through a long period of time with very low layoffs is a good sign for the economy. If you want to go further, not only are we seeing low layoffs, we are seeing record high job openings. You have very few layoffs and you have businesses in this country that still want to add employees. The main trouble they tell us that they have is finding high quality employees. That is a sign of something you see when the economy is still doing quite well, not where were on the cusp of a downturn. Stuart there you go. Good stuff. Jeffrey, thank you very much for joining us. We will see you again soon. Thank you. Im going to go have [ inaudible ]. Stuart still losing money, lyft, but the number of riders went up. They are still bleeding cash but the stock up 3 . How about uber, theyve got their numbers out at 4 00 this afternoon. In advance of that, surprisingly strong, up 6. 5 on the stock. Thats before we get their numbers. Roku, hugely popular streaming platform, gangbuster Earnings Report yesterday, revenue soaring thanks to new video Advertising Sales and the stock is now up another 21 . Its done very well this year, up over 100 . Amazing. Amc entertainment Movie Theater guys reported their profits. Coming up, weve got their chief executive on the show. I want to know his plan on how hes going to stack up against the big streaming names, direct competition. And yes, later this hour, hegseth comes to us. I want his take on the United Nations telling us what to eat. Less meat, less rice, all to save the planet. Cant wait to hear hegseth. Some celebrities calling for boycotts of the upscale fitness brands equinox and soulcycle because the companys owner is holding a fundraiser for President Trump. Cant do that. Twitter locking out Mitch Mcconnells account for posting video of protesters at his home but they did not lock out Joaquin Castro for posting the name of trump donors. The third hour of varney just getting started. Let me ask you something. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. 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Eric reid went on to sign with the panthers but kaepernick has not played since the end of the 2016 season. Stuart they settled with the nfl. Ashley he also got a deal with nike last summer as well. But hes trying to point out im still here and im ready to go. Stuart we shall see. Ashley see if theres any interest. Stuart hypocrisy on twitter. The Mcconnell Campaign posted a video of screaming protesters who were outside the senators home. Twitter blocked the campaigns account because the video violated its policies. However, Joaquin Castros tweet which revealed the names and businesses of trump donors, that is still up. Lisa boothe, fox news contributor, with us now. Blatant hypocrisy, in my opinion. Whats yours . Does it surprise you . We have all known that twitter is biased, social Media Companies are biased, the media is biased against conservatives as well, so is the entertainment industry. But my broader concern is that this is a distraction from the bigger issue and the bigger issue is the fact that we had protesters show up at Mitch Mcconnells home in kentucky talking about stabbing the mother fer in the heart. Thats the bigger issue. This falls on the heels of a man who was sentenced recently to 20 years for sending mailbombs to democrats. We also had a man sentenced to jail for Death Threats against senators during the Brett Kavanaugh confirmation hearings and also, remember in 2017, Steve Scalise, and other republicans were gunned down at congressional softball practice. I think thats actually the bigger issue than any of these speech related issues. Stuart what issue are you referring to about the people being gunned down . The action versus the rhetoric. I think unfortunately, we have seen action in the name of politics or this anger that seems to be existing in Society Today and what concerns me is ahead of the 2020 election, if people are this charged up, that concerns me. Stuart yeah. But clearly, and then you have people like congressman castro who are putting up lists of people on the internet and you dont think in this day and age that action might not be taken upon that . Stuart its targeting. There needs to be heavy reflection all around about the toxicity that exists today in politics. Stuart the potential for political violence. A somewhat related story here, in twitter, yes, it is, stephen ross, hes the owner of equinox and soulcycle, gym chains, you got that, hes hosting a fundraiser this weekend for the president and now people are calling for a boycott of equinox and soulcycle. Again, i think thats a form of targeting and i dont think its very good in civil society. I wish it would stop. I dont like it either, but of course, people have the right to boycott and to not show up and, you know, to end their memberships with soulcycle, et cetera. That being said, i think the bigger message that we are seeing from the left, including some in the media as well, in the coverage of the wake of these shootings, is you are not allowed to be a trump supporter in society, whether its congressman castro, whether its going after these big donors that are holding fundraisers and the message is clear. You are not allowed to be a trump supporter. If you are a trump supporter, what they are going to do, the left, including many in the Mainstream Media, will accuse you of racism, sexism, we are going to out you, you will be ruined. If you are a trump supporter, you are somehow an evil individual which i think is an insane and dangerous place to be in society, if that is the way you view someone who holds different political beliefs. If that is the case, you need to go out and search for deeper meaning in life because you are the person that has issues. Stuart look, i dont think the left has ever gotten over the defeat of Hillary Clinton in 2016. I think they have absolute contempt for the president. They are overly emotional. They will never let it go and they will keep on with this name calling of the president , racist, bigot and now white supremacist. Look, i think we can all say that President Trump takes things too far on twitter, right . He is provocative. He intentionally is provocative. Hes provocative towards everyone. There is an equality in sort of the people that he goes after. But i think the bigger issue that the left and many in the media have with President Trump is the fact he doesnt back down. The medias so used to republican candidates capitulating to their demands or if they accuse them of being sexist and the response is im not sexist and President Trumps response is saying well, thats a dumb question. Why dont you go ask the democrats that. They hate that. They hate the fact hes not capitulating. Even during the Brett Kavanaugh confirmation hearings, refusing to back down, refusing to remove Brett Kavanaughs nomination, refusing to do that. Do you know how many other republican president s probably would have not wanted to go through with it, that probably would have removed him and named someone else . Or nominated someone else . They hate him for that. Stuart his Approval Rating is rising despite it. Including among africanamerican voters. Gallup recently had a poll that showed his numbers with African Americans have improved greatly. Stuart people like a direct speaker, a guy who speaks the way most people speak, directly and to the point. They like it. We are used to him, too. Lisa, thank you very much for being with us. Thank you very much. Couple of tech stories for you. How about apple. They have been slapped with a new class action suit over their siri Voice Assistant allegedly recording people without their consent. That would include minors. Class action. Stocks not affected. 201 a share. Microsoft, more privacy woes there. Third Party Contractors have reportedly been listening to what you say through skype and the cortana Voice Assistant. Microsoft saying they only record what you let them record. Again, stock is up two bucks at 137. The Princeton Review has released its annual list of the Top Party Schools. They base it on study time, greek life and the use of drugs and alcohol. The mascots of the top five Party Schools are on your screen momentarily. We will tell you they are on. Kind of a sequence there. We will tell you which one came out on top. I do also have to tell you the colleges are not happy about this list. We will give it to you anyway. 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. Stuart a couple big ticket cars fetching big bucks on the auction block. Thats the mclaren f1, one of the fastest cars ever built, built for the le mans race. 648 horsepower, appraised for as much as 23 million. Goes to auction next week in california. Then we have this one. Elizabeth taylors 1961 rolls royce silver cloud ii, nicknamed the green goddess. Still has the iconic liz license plate on it. That sold for only 520,000. A bargain compared to that mclaren. It was sold this is the rolls royce. That was the one that was sold over the weekend to an anonymous buyer in new york city. Ashley know who . Emac. Were on to that. Stuart i like that. You would cut quite a dash down fifth avenue with that. Here it is. The top five Party Schools in the country according to the Princeton Review. Who came out on top . Ashley were number one. Were number one. Syracuse university. Alma mater of our executive producer. That says it all, justin. Stuart hes on vacation. Ashley but it says a lot. Syracuse, of course, as you imagine, not real thrilled with being Number One Party school. They say look, this is based on a twoyearold survey of a very small portion of our student body. Syracuse has a longestablished reputation for Academic Excellence with programs that are recognized nationally. We do not aspire, says syracuse, to be a party school. Rounding them out, university of alabama, university of delaware, West Virginia university, coming in at number five, tulane university. Down in new orleans. Stuart when i was in high school, they used to come round with these surveys, how much did you drink. We always started with six pints last night. We would always say that. Ashley of course. Stuart i was young once. Check this out. We dont show you a lot of this on Varney Company but this is a doozy. This is a oneweek chart of the dow, wild week for your money. Next, a real treat. Veteran bond guy, mark grant. I want to know, whats the end game here for bonds and stocks . Mark, after this. Dont miss your golden opportunity to experience thrilling performance. Now at the lexus golden opportunity sales event. Get 0. 9 apr for 60 months on all 2019 models. Experience amazing at your lexus dealer. My car insurance, so i only pay for what i need. And this is me now any physical changes to this mans appearance are purely coincidental. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart look at that number on your screen. Were up 213 points. That means weve had an 800point swing for the dow industrials since this time yesterday. We were down 600, yesterday, now were up 200. What a situation. I do want to get back to Interest Rates. Look at this. We are at 1. 75 on the tenyear treasury. This time yesterday, we were about 1. 59 or 1. 6 . What a swing. Mark grant is with us, the man himself, global strategist for b. Reilly fbr. Mark, you have been writing about this good to see you. Good to see you. You have been writing about this for months and months and months, these negative Interest Rates in europe and japan, where you actually, where the lender pays the borrower. Can you tell me what the end game is there . Because this cant go on forever. Well, it may not go on forever but its going to go on for a very long time. What this is is something that no one could have believed would ever happen, which is where, you know, the lender is paying the borrower for the privilege. Its just ridiculous. But what happened is in europe, switzerland and japan, they couldnt afford their budgets, they couldnt afford their social programs, they couldnt afford to raise taxes without the politicians being thrown out or in the case of the european union, they would be violating all the covenants of the european union, so what they did is they got together and they got the European Central bank to issue make money from nothing, then buy the sovereign debt, corporate debt in the case of the european union, and they keep building up these giant negative yields that i think were going to 25 trillion, were at 15. 1 trillion today, then probably to 50 trillion. It may not go on forever but its going to be for a very long time. Stuart the shortterm result of that, i read your stuff and i think youre saying the shortterm results is that money is washing into american stocks and American Real estate. You see our stocks and real estate going up because of this free money around the world. Have i got that right . Yes. When you can get no yield in switzerland or japan or all of europe, virtually, money goes to where you can get some yield. You can still get some yield in the United States. Having said that, however, its putting giant pressure, you can forget about what President Trump is saying, its just stuff, but the real pressure is what the other Central Banks are doing to the United States and it plays out both in our Interest Rates and the currency market, because we have to remain competitive which is why i think the tenyear which may be back up a little off of the low yields today, i think its going down to 1. 25 , 1 , and the tenyear it may be even through that. Stuart you have been writing about this for a long time. I think its one of the most important financial stories of the day because i dont see how this continues for very much longer. But its very difficult to report it. Its very difficult to get an audience to understand the severity of whats going on. I think you captured it when you said never in the course of Human History have we ever seen anything like this before. That is accurate, isnt it . That is a correct statement. People always argue well, its different this time. Let me tell you, this is really different. As you just said, never in the history, recorded history, of the planet, have we seen negative yields like this and the problem is, stuart, you make the point how much longer can it go on, europe, japan, switzerland, its going to go on longer with the possible exception that their currency collapses because they cant afford to do anything else. They are caught in a quagmire they cant get out of. Stuart shall i sell my microsoft . Want to give me some advice, mark . No. Shouldnt sell your microsoft. Thats not impacted that way. There are two things that are going to happen here. The first instance, as you said, it drives up equity prices, it drives up real estate prices, it drives down yield. The good news for borrowers, if you are a mortgage holder, as you just reported in your last hour, you know, rates keep going down, Interest Rates are going to go down, the feds going to have to respond and the feds going to have to do something about the dollar or the Treasury Department is. In the second instance, when you get yields that are so low, approaching zero, that it doesnt move risk assets anymore, then you are going to have a real problem and then things are going to go in reverse. Stuart im glad we got you on tv at long last, because youre all right. Thank you, stuart. Stuart if youre not careful, we will drag you out of bed and get you on again. Any time, my friend. Any time. Stuart thank you, sir. We appreciate you being with us. Appreciate it. Good stuff. Thank you, sir. Stuart our next guest got a piece in the wall street journal, he has this every thursday. This ones called the deep dangers of life online. Its a deep dive into the toxicity of the internet. Theres a grabbing headline for you. Causing sparks to fly there. His name is dan henninger. You wrote that stuff. Okay. I read it. Youre saying that just the extraordinary amount of time spent online creates mental problems. Make your case. Higher levels of anxiety, yes. I am indeed writing in the context of the two horrific shootings in the past week. Lets set those aside just for a minute. Since about 2000, weve had the web, its a wonderful thing, people are spending a lot of time on it. The biggest one of the biggest stories of the past year is how parents in Silicon Valley, where a lot of these apps are in fact created, are forbidding their children from spending time with screens. They are banning them in Silicon Valley because parents understand that this stuff can be dangerous. Second, the chronicle of higher education, a trade publication for higher education, has been running stories for several years about the extraordinary rising incidence of anxiety and Mental Health problems with students on campus. They had a huge study several years ago in which about a third of students claim they are having difficulty functioning because of depression. I used to dismiss these stories as just overwrought but i dont do that anymore. I think because people, whether its adolescent girls looking at perfect women photoshopped on instagram and pinterest, or whether its students looking on texting each other, comparing each other to one another all the time, the human brain was not created to be so inner directed, so selfabsorbed and that is a formula for trouble. Now reflecting itself in ever higher levels of anxiety. I think out of the end of that spectrum, where you have young men already disturbed spending all their time thinking about these things online, relentlessly, eventually you get these snaps like you had the past two weeks. Stuart this is separate from violent video games. Separate, yeah. Stuart thats a totally different issue. Whether that affects shooters or whatever, thats separate. Youre not talking about that at all. That almost might be different, what im arguing. If you are playing a video game, you are looking at this video game and playing this stuff onscreen. Im talking about people totally absorbed in themselves, thinking about how they compare to other people, to the world, thinking about immigrants, other enemies, and rolling it over in their head all day long. As i say, i dont think the human brain was designed for that degree of input into this sort of level of anxiety. Stuart yet its addictive. That is addictive. You become obsessed. Stuart i dont know what you can do about it. These shooters were obviously obsessed. I dont know what you can do. The screen genie is out of the bottle. Its not going away. One answer is try to get people to be more outerdirected, whether its parents, schools, but somehow young people have got to turn their heads away from this and start doing things that are out in the world, because they are disappearing into these worlds that are just unreal. Forget altright or altleft. That world online is alternative reality. Stuart thats really a good story. I would recommend everybody read dan henninger. I hope they do. I hope Silicon Valley does something about it. Stuart dan henninger, thank you, sir. All right. Check out amazon and google. You can no longer buy ammunition or gun accessories from their sites. Makes no difference whatsoever to the stock but we thought we would report it to you in light of whats been going on recently with guns. How about check gun stocks. In the wake of this weekends mass shootings. Now, that does not tell you the story of the week following the mass shootings. It just tells you that those stocks are, well, thats the levels the gun stocks are at. We better look at the charts, see how theyve done in the week. Im not sure whether theyre up or down. Right now, its a mixed bag. I say everything is political these days including your diet. The United Nations says eat less beef and eat less rice to save the planet. Pete hegseth is with us. Hes a meat and potatoes kind of guy. He was in the 101st airborne. Im sure hes not happy. Im going to ask him. First, Movie Theater chain amc reported that 900,000 people have signed up for their subscription plan. They are getting people into the Movie Theaters at a time when streaming is king. How are they doing it when half the movies are remakes . Good question. The ceo will answer it next. Driverless cars. All ground personnel. Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Stuart disneys chief bob iger put an unlikely reboot or remake on the table for their new disney plus streaming service. A remake of what . Ashley home alone which, by the way, came out in 1990. Thats almost 30 years ago, 29 years ago. Of course, things have changed. Heres the original movie. Its an iconic movie. How does Macauley Culkin look these days . He wasnt very happy about this. The picture says everything. There he is, theres mr. Culkin these days. In his boxer shorts eating food saying hey, what do you say, give me a call, disney. Stuart it was a joke, wasnt it . Ashley it was a joke. I will say there are a lot of people who say dont mess with this, dont reboot it, dont want it, leave the original in place. We shall see. Stuart i think i would agree with that. So does the producer. Ashley we all agree. Stuart amc, movie people, their earnings came out early today. Profits up slightly from last year. We have with us adam aron, ceo of amc entertainment. Welcome to the program. Very good to see you. Stuart, you are a great interviewer. Its an honor to be with you. Stuart flattery, you are off to a good start there, lad. Let me tell you. What pulled me towards your Earnings Report was your Subscription Service. You got 900,000 people signed up. Is that your answer to the streaming services . It is, although i have to tell you that when we launched what we call amc stubs alist 13 months ago, we were hoping we could get to 500,000 subscribers in a year. We got to 500,000 subscribers in four and a half months. In a years time we got to 900,000 subscribers. Alist is a big hit. People like the idea that they can come to our theaters for a fixed price and see as many movies as they want to see. Stuart is it 20 a month depending on where you live, maybe a bit more in new york or l. A. , but roughly 20 a month, you get three movies a week. Have i got that right . Youve got that right. Stuart of course, the advantage of that is you get all these people to come into your theaters and you charge outrageous prices for popcorn and sodas. What is it, about 15 for a large popcorn and large soda . Well, i wish everybody thought it was 15 for large popcorn because its so much less than that. You know, it really is great popcorn. From indiana and illinois, americas heartland. This is very fine corn here. Stuart but its very expensive and i think you, sir, would agree with that. Right . Yes. We offer good value for money, stuart. You know, in the Second Quarter, the quarter we Just Announced earnings for this morning, amc set an alltime attendance record, 97 million tickets sold in april, may and june. People do find what we offer at our theaters to be very attractive. Stuart heres my problem with modern movies. Theyre all remakes. Theyre all sequels to something that i have seen many years before. I dont feel theres enough original new stuff thats going to bring me into the theaters. You got a comment on that . Well, sure. Because theyre not all remakes. Theres a mixture of original content and theres a mixture of remakes. Lets talk about the original content first. There are some great movies coming out, earlier, just at the end of last month we saw an intriguing little movie called yesterday. Really a clever premise came out from universal that no one remembered the beatles and a young lad from britain got all the credit for writing every beatles hit ever from the 60s and on. But yes, there are remakes, too, but guess what, avengers end game came out in april and may. Its the biggest movie in the history of cinema. It sold 2. 8 billion worth of tickets around the world in less than 90 days. Lion king came out in july. Its the third week of release, its already the second biggest movie of the year. So some people are finding the new movies to be wonderful and fascinating and intriguing. Some people are finding the remakes to be similarly, but the take of it all is that our box office as an industry is soaring. The Second Quarter of 2019 was the second Biggest Box Office quarter in the last hundred years. Stuart okay. People are coming to the theaters in droves. Stuart take that, netflix. Did i bettinterview you in the 1980s . Did i . You did, sir. Yes, you did. You were quite an interviewer then. You are quite an interviewer now. Stuart im sorry, i have forgotten, what were you doing in the 80s . Its funny because when you were asking about subscriptions for Movie Theaters, its similar to what we were doing back then. I was one of the founders of the very First Airline frequent flyer programs in 1982. Ashley wow. That same emphasis on Data Base Marketing is a concept we are using in the movie industry right now. Heres a fact thats kind of amazing. Amc is sending out a billion and a half emails, texts and push notifications each year to movie goers telling them whats playing in our Movie Theaters. Thats because we know who our customers are, we know what kind of movies they like to go see, and when the movie is relevant to them, we tell them. If a movies not relevant to them, we dont bother them. Stuart its great to still be in business 30 years after we first met. We are both still around, adam. We were younger then and were both doing just fine today. Stuart yes, sir, we are. So is amc. Your stock is up 5 today. It was a pleasure. Thanks for being with us. Appreciate it, sir. Thank you. My pleasure, sir. Stuart you heard this before. United nations wants you to eat less meat. They say it will save the planet from climate catastrophe. I say they are politicizing your diet. What will pete hegseth say about this . He was in the 101st airborne. What would he do if he couldnt get a decent plate of corned beef hash and ham steak the next time fox friends sends him to a diner . Hes coming up soon. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. stuart look at this. I think to some degree this is investors buying on the dip. Big dip yesterday, down 600 points at one stage. Youve got an 850 point reversal. Thats got to mean that some investors are buying what they thought were bargains because weve got a complete reversal from yesterdays selloff. I welcome it because were back at 26,264 and we will take it. Now, lets get back to my, you know, very tongueincheek editorial at the top of the hour. United nations says hey, you, eat less beef and eat less rice. You got to save the planet. What does pete hegseth say about that . Hes the fox Friends Weekend cohost, he was an army guy. He was in the 101st i was going to say 82nd but that would be an insult. I wouldnt say marines. They dont as much beef in the 82nd as we did. More for us. Listen, the more they say the more meat and cheese and rice for me. And my seven kids, which i have, by the way. I need to feed them all. Im going to feed them a good midwestern diet. Lots of beef, lots of cheese, lots of rice, lots of wheat. All the staples. Stuart you feel a little guilty here . Are you totally dismissing Global Warming and Climate Change . Totally dismissing this. Global Climate Change is all about control. What is more about control than food . Thats how i control the activities of my kids as a parent. Really, its like you ask permission, you will sit down, you will ask to be dismissed from the table. Its the ultimate control mechanism. If you now then say to these poor countries around the globe that, you know, i think its a 50 , 3. 5 billion people in the world rely on rice as their staple food. The u. N. Is going to say cant grow it as much, especially in a lot of third world countries where populations depend on it as a primary food source, because we are more worried about the temperature change, which is something they say the science is out on it but i know plenty of people that say theres been fudging, theres been ways in which they have cooked the books to make it look like the worlds going to end in ten years. Im not sold on that. We heard that before. It was global cooling, Global Warming, now its Climate Change, everything, when its ranging or hot out its all part of the problem. Stuart its weather. Its weather. The left wants to fight things that are easy to fight like weather but they dont want to fight enemies with faces like islamists in front of them who would like to take away their entire livelihood. Stuart i think we know exactly where you stand on Climate Change. Im about to eat more beef in five minutes. Stuart what about bitcoin . I know you are an investor in bitcoin. You going to say i told you so . I am going to say i told you so. Im telling everyone out there i told you so. Its not too late because this thing has amazing potential. I dont know where it will go exactly. But its stability is its decentralization. You dont have a central bank or a group of elites manipulating it for their own desire. Its a limited supply. Its totally decentralized. You dont go through a third party. And it can be a security currency against other ebbs and flows in the market. You swhee when the market goes down, bitcoin does quite well. Stuart when you greet your seven children, you insist they salute . They are all working ashley all lined up. Stuart the american salute which is like that, or the british salute which is like that . No, no, no. We fought you guys, you know. Stuart that was a long time ago. Long memory. Thats why you do the proper salute. Stuart hegseth, you are all right. Weve got time for the arizona iced tea story . No, we dont have time. Arizona iced tea is going to put thc, marijuana in drinks. You approve . Sure. Thank you. Stuart more varney after this. Know they were talking to her. deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Stuart we do have time for the arizona iced tea story. Ash, they are going to put it. Hc, stuff that gets you high in drinks. Ashley give as whole nemeaning to teapot, right . Teaming up with dixie glands. They sell gummies, topical cream, all with thc. The Company Behind it, arizona beverage is all in. They are operating in six states that dixie operates in. Recreational marijuana is now legal in 11 states. 30 allow medical marijuana. So theyre trying to get in on this side of the business. Dont forget corona beermaker, Constellation Brands is in this business. Heineken taking an interest in a california pot company. It is happening. Still not legal on the federal level. That is a big issue. Stuart before we leave you. Well check the big board. This is high of the day. Were up 1. 0 . That means were up 270 points for the dow industrials. Oh what a difference 24 hours doth make. How about that . Neil, it is yours. Neil thank you very much. Perspective is everything. What youre not used to. Negative rates in europe. Today theyre not as negative. A lot of shares getting pounded yesterday are coming back. Include disney, Technology Shares minus intel. Well get into that a second. Hope that the bond yields will cam down. They are not as low as they were 24 hours ago. Were on top of that. Were on top of a billionaire soulcycle investor facing a lot of backlash because he backs one donald trump. Other donors are feeling the pressure, if we feel the same way, will we get the same heat . If the president loses, will we see real losses . The billionaire with a warning,