Transcripts For FBC Varney Company 20240714

Expected, the question is how much. And bigtech in the cross hairs, Senate Committee holding antitrust hearing today. Companies expected to face tough questions from both sides, plus, President Trump ripping the New York Times once again, a lot to go at today including more problems for wework and half billion dollar deal to bring seinfeld to netflix, Varney Company begins right now. David day 2 of gm strike, Kristina Partsinevelos from picket line in arlington, texas, what are you hearing about the status of the negotiations . Well, right now its been pretty tense, went into the evening, im at the arlington plant over here, over 4,000 workers are focused primarily on larger vehicles, suvs, chevy tahoe, for example, the issue, a lot of Sticking Points, the one we were told by source that issue mexico, Union Workers that want the production to come back to the United States, more Jobs Available for workers and several talking points i guess you should say the laundry list of items that they are asking for, fair pay, seniority, temporary workers can get permanent job, i spoke to one person that said they have been here for about 6 years and they cant get the permanent position and health care is a major, major Sticking Point because right now according to gm spend about 4 of the healthcare costs and gm is looking to increase higher, gm is playing their cards right, they are using their cards right, they will not Touch Healthcare benefits after october 1st, they will tap into emergency fund, should they continue the strike. The strike is happening right now across the country affecting over 50 plants across the country. 49,000 people, here in texas, arlington the mood is still pretty good, very hot again today, almost 100degrees fahrenheit, a lot of them are from General Assembly lines. They keep rotating over. I will send it back to you, theyre not going anywhere, negotiations continue in detroit. Kristina, thank you very much, take a look at the headline from the detroit news, editorial blame strike on uaw corruption. Lets bring in curtis ellis, curtis, nobody knows uaw better than the detroit news, they spend a lot of their time investigating, they say, look, you have auto workers losing a thousand dollars a week, gm losing a hundred Million Dollars a day on this and all because the uaw is trying to cover up its problems with corruption, what do you say . Well, david, thats an interesting thought and one that ive heard from people inside the labor union movement, they said isnt it convenient, this is a nice distraction for leaders that are in uaw under fire for corruption there are 11 Union Leaders, uaw Union Leaders who have been indicted so far and also investigations going into the top of uaw right now. Right, let me say that this is another example of split between leadership and ranking file. We isnt that true 2016 that the Union Members voted for donald j. Trump while the Union Leaders for Hillary Clinton. The split between ranking file and the relationship, and if this strike does not end well for the union, if it drags out too long and causes too much pain and not get good contract at tend, that would be blamed on the Union Leadership. Theres a at stake here for the Union Leadership as well as for the president because the action here is in ohio, pennsylvania, michigan, states he needs to win. David and texas. And texas, most of the uaw members and big striking is going on in the industrial states around the great lakes, so the president is hitting the right note, notice as your correspondentant correspondent told us, mexico, jobs going mexico, plants going to mexico, the president you heard him yesterday i dont want to see gm building factories in mexico, hes taking the side of the uaw. David the question is whether uaw leadership is different from membership and the leadership is so concerned about their own corruption problems that they are dumping all of their problems on the membership, i mean, they are losing thousand dollars a week, can the president come out and support the Union Members and condemn the Union Leadership for what they are doing if the detroit news is right on this . Well, by taking the side of the workers and taking the side of america, i want jobs in america, i want gm in america, hes doing exactly what youre saying, david, this could be interesting, he can come out on top again the no pun intented trumping the leadership, we will see how it comes but the stakes could not be higher for everyone involved. The workers, the Union Leaders and the president because if this doesnt come out well for the president , if he is able to get gm to reopen some of the plants in america thats great for him, if this doesnt happen and if he is perceived as siding with gm which i dont see that happening, there goes those critical states. By the way, he keeps emphasizing the fact that gm owes taxpayers. 11 billion from the bail oit. The short sale. Yeah, yeah. And he could hit on that too, many points that the president can hit on. Everybody wants to be the fly on the while, the meeting that he had with mary barra, we would like to know what happened there. David thank you very much for being here, great to see you. Thank you. David journal reporting that uaw cost could a hundred Million Dollars a day. You dont live too far from the wilmington, delaware plant. In fairness the plant has closed. I live about 10 miles from there, 3 miles from chrysler closed in the last 10 years and that has how many people lost their jobs . 3500 and 2800 in the other. Theres so many things going on and so many moving parts in this particular in this particular standoff and a few of them i think are interesting that gm was planning on this, 77 days worth of cars in inventory sales where the average dealer or car maker has about 61. They also have 17 and a half billion dollars in cash, 16 and a half billion dollar credit line, so they are ready to do this and the uaw, i think, to your point earlier in the corruption with whats going on there, i think its coming in more willy nilly, we want a fair settlement and not to draw out. They have been profitable, 6 profit margin, just to put in perspective, ford has less than 2 margin. Gm rivals toyota in terms of profitability. They are doing well, refurbishing the biggest chain, largest seller, interesting things going sort of bypassing the union traditional negotiation, taking highrisk strategy by going public with what they offered making appeal directly to ranking file. David lets talk overall markets, dow futures down 70, they have been losing steam, i guess theyre essentially waiting deal on what the fed decision amounts to. Yeah, i think we will we will be on hooks until then, i think most people, 63 and a half percent chance of a quarter percent drop according to fed funds, the traders that use this for hedging are saying twothirds of a chance that he will do that. I dont think we will get half point at all. I dont think its in the cards and i do believe youre exactly right, we will probably see some very Modest Movement between now and 2 00 oclock. David europeans keep dropping their rates, negative levels. They dropped 10 more basis points last week, yeah. D. R. , thank you, another delay for ipo, whats going on, susan. Well, looking to be a disaster, from 45 billion valuation in round of fundraiser to 20 billion, maybe we should hold off on this and wait for better market conditions, so wework now delaying ipo, they expect ipo to be complete bid this year, they are saying at least until next month thats when theyre going to delay it to but, you know, a lot of people on the markets dont think they will go public this year in 2019 and there are a lot of concerns about profitability, you know they lost 1. 6 billion last year, they only sold the sales 1. 8 billion, that is those are not good account numbers and theres, of course, questions about the accountability of ceo since hes been selling shares ahead of ipo, how much faith does he have in the company. David good point. Check u. S. Futures, they were down from earlier premarket activity down 69 points, we will see what happens when they open in about 20 minutes, meanwhile mcdonalds says fooddelivery operation going to grow to 4 billiondollar business by the end of this year, company also releasing surprising information on when most people are most likely to order a big mac during course of the day and the fbi is investigating after 35 million just vanishes from a Payroll Processing company, suddenly went out of business leaving tens of thousands of workers without a paycheck. Also marriage rates are going down in this country, new study says its because there arent enough economically attractive men, that story next as Varney Company is just getting started. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief david take a look at dow component mcdonalds, forecasting that delivery alone will be 4 billiondollar business for mcdonalds by the end of the year, the most of the action actually comes very late at night, so who better to talk all of this than bar rescue host john tafford, great to see you, john. Does this surprise you that mcdonalds is doing gang buster on Delivery Service . It doesnt, but when you are talking premium price for delivery, think about how people are paying for convenience these days but over 60 of orders are at night and its a million orders a day, think about that, a million orders a day of hamburgers being delivered, mcnuggets being delivered and they are saying its going to be a 4 billiondollar business just for them. David does this cannibalize business in house or continue to work both of them . Its a wonderful study, its about 5 50, 50 50, incremental revenue, but we pay fee for delivery, so to the industry, its a win and lose because you do take hit for the delivery. David youve had to wrestle with that, though, not only in food career or bar career but also tv career if you start something new, does that pull away from your brand or from something youve done before . Right, right, whats the answer there, how do you decide whether youve got to bring it to new level . In todays world you have to be in the delivery marketplace to be relevant and be on website, we are cornered in the business. You have bar rescue, marriage rescue, the next one is for you, new study finding that marriage rates are down because too many men arent economically attractive, john, i think a lot has to do with education, kids are being educated by a lot of folks who think that ambition is wrong, theres something bad about ambition, thats kind of a theme that you see through a lot of educational systems that particularly in Public Schools, what do you think . Take ambition out of the American Business model and what the heck do we have, david . David economically unattractive men. Womens expectations risen . The education part is a great part of the equation because women are more educated, they make over half of the college classes, right, so if im being more educated i make my own money why shouldnt i expect someone to be as successful than me or make more than i do and its hard to find in todays environment, right . Exactly, a lot of guys loaded down with college debt. Thats true. Ducated but are poor. [laughter] david also problem with booming economy, you have easy job market that a lot of guys, maybe i will sit around for a while and wait for the right job to come along, you cant do that. Also i think that women when you mary today youre not necessarily looking for wealth today but promise into the future, i think not only [laughter] i think it speaks to their potential at least [laughter] david amazon facing as you can see the Dow Jones Industrials improved a little bit from where they were, nasdaq unchanged and trading up a little bit in premarket activity, amazon by the way facing questions over report that claims it changed its search algorithm to boost its own products and amazon pushing back on the story from the wall street journal, we are on it. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. 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Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. David amazon pushing back in wall street journal article that it changed algorithm to boost its own products, quote, we have not changed criteria to rank search results to include profitable, we feature products that customers will want whether they are our own brands or selling partners. Joining us kirk, cyber, guy, regardless the article is right, does amazon have the right to do this . Well, thats the question, david, good morning to you, we are talking about also, look at the statement from amazon, theyre right, they didnt put in specifically profitability into their algorithm, instead what the journal article says is they were manipulative, they put in factors that would lead up to yielding a more profitable margin for items that would propagate to the top which tended to be amazon Branded Products as well as thirdparty products that had very, very strong performance, they had greater Profit Margins and they sold a lot of, the journal article is absolutely correct that this is going on because the results are there and evidence came out that internally at amazon the attorney involved in the case, at least one of them had been outspoken about not putting because of what happened to google in 2017 and the eu where they paid 247 2. 47 euro fine, amazon should just be out front about this and you and i should have expectations that when we shop at amazon and we type in im getting david a brandnew ipad that the amazon generic version of the ipad doesnt come up david european regulators are die to go get more of revenue or limit their growth in europe, give their own competitors more of a chance to compete with amazon. I think theyre afraid of the europeans and thats why they are pushing back this hard. Well, thats how it started, i believe, now the wall street journal has opened it up to what now is brewing in this country not just from the 50 different states that have signed on with their attorney generals having consolidated being run by texas for antitrust issues but also Congress Taking up this issue with all big tech, amazon should be frightened, they should it should worry them and at the end to have day it comes down to this, how come we cant have somebody, someone that we can trust that amazon is willing to share algorithm with and google is willing to share algorithm with david i think its the fear of european regulators that does everything, thats whats motivating amazon and so many Tech Companies right now. Kirk, great to see you, thank you very much, appreciate it. Take a look at futures, down about 51, 53 right now, its an improvement from earlier in the morning, though, it began about 5 and now we have nasdaq in the red just 5 minutes from now as the markets open. This is the age of expression. But shouldnt somebody be listening . So. Lets talk. Were built for hearing whats important to you, one to one. Edward jones. Its time for investing to feel individual. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Now you can, with shipsticks. 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David the opening bell is ringing right now, the markets are expected to be down a bit as we open up but the nasdaq was flirting with green arrows for a moment, there we go, now the bells are ringing, a lot of things are weighing on the markets, same things that were occurring yesterday, gm strike and concerns about what is happening in saudi arabia and we have a market thats, indeed, down about 75, 77 points, you can see a lot more red on the screen than green, though it looks better than yesterday, again some concerns are beginning to settle in being discounted already because of what happened yesterday, but still down market today, take a look at the s p if we can put that up on the board, s p is down percentage wise just about the same as the dow right now, down about 4 points to under 3,000, and the nasdaq down fractionally today just down 3 and 3 quarters percent to 8,151. Take a look at oil, of course, huge, huge upside yesterday because of the tensions in the middle east, today pulling back but not nearly enough to wipe away the gains of yesterday, its trading now at 62. 08 a barrel. Joining us john taffer and mike murphy and susanly susan li and ashley webster, are we in Holding Pattern until the fed decision tomorrow . I think we are in holding decision pattern, if you look at Oil Yesterday it didnt really spook the markets, we are sitting 1 or 2 Percentage Points off alltime highs, but right now where we stand everything is okay. John, on energy, a lot of people feel secure about whats happening because of our Energy Situation because we have essentially Energy Independence right now, thats helped us a lot when you have the middle east problems, right . Absolutely, when you think about our production has reached consumption you wonder why we cant insulate the price raises more here, in fact, we are not as dependent and 10 years ago that would have derailed the markets, yesterday we fell maybe 100 points, net exporter of oil. We can do that, crank out more, we certainly have the resources, the fracking, whatever you want to call it, once we get the internal infrastructure up and running to your point, john, we can become insulated from past situations, we could still become more premier of alberta. Very interested in improving the pipeline situation. Senate subcommittee will be holding antitrust hearings today on big tech, so mike, these companies, their stocks dont seem to be hurt by whats going on in dc, does it worry you . It does, whenever youre going up against the government or the government has you in their cross hairs thats potentially a bad situation, but in the past google, google has gone through this before, microsoft has gone through this before, its not a situation youd want to be in but everyone kind can gather around this and come to some sort of understanding, exactly the right way, im not sure, but we get regulation. David not as much as strangle hold as what europeans have and thought would be exporter from europe to every over here, right, mike . I guess there are some that think that just let the free markets be free markets but Everything Else is regulated like the cable shows, the network shows, so what is on the internet is going to be regulated in some way. God help us. Netflix reportedly paying half a billion dollars for the global streaming rights to seinfeld and this morning at t announcing secured the rights to the Big Bank Theory for hbo max streaming service. So seinfeld we are guessing 500 million, look, i think its a reality for netflix given that they saw subscribers fall for the first time in a decade last quarter, you to pay up for franchises, franchises keep people staying on the network especially when you have Cheaper Services coming online, disney plus and apple tv plus. David how much do content wars heat up . Content is king, the real winners here are the consumers, you know, im shopping my varney clips for 400 million, no takers yet, ultimately you sitting at home in your couch have access to basically any sort of content, you had to go to movie theater, you can see anything whenever you want. David has netflix or at t have been after bar rescue. My network keeps bar rescue to itself because the marathons are so successful that they only let a few of the episodes out, when you think of the relationship with seinfeld, a lot of hours of programming, its not an hour and a half movie. Hulu, only 1 comes from sign seinfeld, thats a lot of money for 1 . Addicts are so a lot of fanatics have series. Brand affiliation as well. David absolutely, take a look at the big board, recovering a little bit, tinny bit, its down but moderately so, down 65 points on the dow. And take a look at gm as strike enters day 2, its down not too much today, again, things are beginning to settle in and questions concerning uaw itself, the leadership and whether or not they are trying to cover up for corruption problems with the strike putting the lives of their workers at risk for their own sake, thats weakening the Union Pacific just a little bit, all this weighing in on the situation as strike goes into second day, higher sales meanwhile at restaurant chain Cracker Barrel helping 5 and a quarter percent, thats good sign for the restaurant industry, no, john . It is a good sign, also goodfamily restaurant and the way they serve full meal with potatoes, great perceived value and that doesnt surprise me. We are looking at record restaurant sales, 860 billion, what does that say about the strength of the consumers which powers twothirds of the u. S. Economy . David check bitcoin by the way, it is down 94 to 10,209, then theres gold, there was a rush yesterday but today pulling down 2. 30, theres a little more, maybe not belief that things have been resolved overseas but less concern of what is happening over there, gold is now trading 1,509 an ounce and 10year treasury has yield of 1. 84 right now. Meanwhile the National Average for a gallon of regular gas is 2. 59, a lot of people expecting that to rise as oil prices have begun to rise. Ashley note from reuters saying Saudi Oil Output will become normal levels quicker than thought. Thats good news for the oil patch for sure. But that could bring david good point. Take a look at beyond meet, we care a lot of beyond meet because of spectacular rise, shares have been like rocket ship, more than up 500 , john, is the fake meat here to stay . Has the same amount of saturated fat and sodium as regular beef patty does. Its a very processed product, one could argue that the fresh meat might be healthier than that. Youre not picking up sodium or saturated with product. I agree, no intellectual property, you so many different people coming into this space where youre seeing some of the large conglomerates, to pay up for people at home, to pay up or chase a beyond meat because its in the headlines every day is a scary david you think stock will pull back . I do. David particularly with millennials and now theres a shortage of one of the most popular brands, white claw, john taffer is here, perfect man for this, you added a line of hard we put out mixers. A variety on the table. I have to create new recipes every week, i created the flavors and we said, boy, strawberry basil. Low in sugar and low in cashes, great, great product. 5 alcohol, like a beer. Rolls out in walmart in october, im very excited about it. Surpassed a billion dollars over the past year, growth of 200 compare today previous year, thats because i think its lower in sugar carbs as well, 5 alcohol content, thats comparable to beer. David from the time you had the brainstorm of doing this, how long did it take . About a year, you to put together recipes, packaging, negotiate retail deals, alcoholic product so i cant sell directly to retailer and i have to go through distributor. I love your entrepreneurship, you exude entrepreneurship, you are wonderful at that, best of luck. Thank you, david. David quick check of the big board, the dow is recovering, now down 43 points, it was close to 100 points down as the market opened, bus rerecovering, new numbers showing the vast majority of americans say the country is suffering from a Housing Affordability crisis coming up at 11 00 we will be asking National Association home builder jerry howard what can be done about this and President Trump getting ready to head to california for a big fundraiser, what kind of reception will he get in the formerly golden state and where is that reception going to be . Big secret, matt schlapp might have an idea, Elizabeth Warren continuing to promote to tax the rich policy but by going after the rich is she also hurting retirees that have been saving their life for what they now have is to be taken away by Elizabeth Warren, more on that story coming up next. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Checking the big board, down 56 points on the dow but the big move, ash, is oil. Ashley oil, take a look at this, down right now more than 3 bucks, 59. 78 on oil, all on the news of reuters reporting that the damage to facility may be able to get back online 2 to 3 weeks, thats big news. More widely use measure down more than 3 bucks, but 59. 64. David under 60 already. Ashley 5 . David maybe recovering from what happened yesterday. Recovering from the point of Consumer Affairs here, look at chipotle, adding carne asada, new meat item since introducing chorizo last year, nice pop today of 2 , breaking news from the white house, this is interesting, partial trade deal with japan has been reached, the trade Representatives Office telling fox business that the deal covers agriculture and digital trade, full deal is in the works that would include other sectors like manufacturing and Financial Services but that is good news, moving on the trade front with japan, meanwhile Elizabeth Warren campaigning last night touting a wealth tax again and going after the socalled rich, roll tape. We can afford medicare for all to save our people and deal to save our planet. We just need Real Investments and working people, so lets start with more power in the hands of workers, make it easier to join the union and give unions more power when they negotiate. And its time for a wealth tax. David joining us economist peter merici, you know what bothers me most when you hear workers as opposed to everybody else is rich, workers who have been saving their whole life, manage today be very frugal their whole life, saved up enough money to have a good stock portfolio, to have maybe a couple of Million Dollars in their 401 k , its not that they are wealthy rich people that need to be taxed more, its that theyve been frugal savers for 40 or 50 years, right, peter . Absolutely, the democratic platform is about penalizing people who have been prudent with their lives, people who went and studied something useful in college and got good job and opened ira, most of the people that she wants to tax are the elderly and elderly women, think about her tax would work, 1 , 2 of the wealth in the United States up for sale, when you look at what is actually marketable, its a much higher percentage, it would tank asset markets and in the end, you could only tax income because the gdp is what the government takes a slice out of, its another way at it, this is really bogus, she loves to point at a problem and say shes got a plan, the problem is the government spends too much money and she wants to basically shake down grandma. David right, more than that, she wants to take away the property, the constitution of the u. S. Has Property Rights installed in it, embedded in the constitution, by the way, democrat candidate john delaney says wealth tax would be unconstitutional because its a confiscation of property on which youve already paid your taxes. Exactly, the inheritance tax is the estate tax is like a purchase whereas wealth tax, the constitution specifically says that income taxes and wealth taxes must be assessed proportionately across the states according to population, the income tax, have to have constitutional amendment to get that done, the wealth tax would be the same, the only way get passed the Supreme Courts, Justice Roberts looking at Mount Rushmore and this really is not constitutional, you can count on four democrats to vote for it. I hate the phrase that she has an attack on the rich, its not an attack on the rich, retirees, people who have saved all their life, working hard, being frugal, now they have a nice save to go rely on for retirement so they dont have to bug kids and she wants to take it away from them. Its not attack on the rich, attack on the elderly. Shes about honest today than she was she wants to muck grandma. Its as honest as application at harvard. She violated my system, okay. David i appreciate you being here. Check the dow 30 stocks, we are down about 73 points right now on the dow, but, again, the oil thats dropping which is really a nice sign of stability despite the fact that things are far from unstable and in saudi arabia and iran territory, still the markets are recovering again shows what the power of diversification of our energy needs and productions have meant for this world, means we have not only more independentance but more stability in dealing with crises in the middle east, u. S. Chamber of commerce says theres enough democrats votes to pass usmca so when will nancy pelosi put for vote or are they focused on impeachment coming next. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. David the dow is down about 62, look at oil, down significantly, it was just briefly below 60 a barrel, its a little bit above that, tick above that, 60 and 2 cents. Came down, ash. Damage may not be as bad, certainly not great but they can get back online maybe next 2 or 3 weeks, thats put downward pressure on oil prices because the 5 plus billion dlb back sooner than expected. David we announced by the way that the japanese and the United States have at least a partial agreement on trade deal, meanwhile the u. S. Chamber of commerce says theres enough democratic votes in congress to pass usmca joining us from congress, republican from virginia, member of house Financial Services committee, good to see you. They wouldnt get to usmca, and you think its a possibility . I talked to moderate democrats especially like my own from virginia, 10,000 square miles, bigger than new jersey, 65 rural, agriculture, so talking to modern democrats like we need to pass usmca for our district. David if we gets usmca that gives us real leverage to deal with the chinese . We have dairy, timber, beef. It needs to happen. David Maxine Watters is the chair, aoc, alexandria ocasiocortez member of the committee, new york, liberal democrat new yorkers blame her for kicking amazon out of new york city and yet she qualifies for the Financial Services committee, how does that happen . That might have been political pick, david. I dont know [laughter] david somebody who kicks businesses out of her own district. My background was big data aggregation analysis, thats why we talk about fed, we talk about what they are doing with faster payments, all the real issues and all the Committee Hearings to just political david david but youre a businessman, even Maxine Watters, even her family was involved in banking business, she knows the way banks work, what does aoc know about Financial Services. I dont know with tlaib and presley, i dont know what they know, it always evolves to something outside of Financial Services. David surpass before the election . Yes. David appreciate it. [laughter] david ohio one of 22 states suing perdue, perdue filing for bankruptcy, we have Ohio Attorney general coming on the show, we will ask him, more varney coming up next. Destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. David my, everybody, david asman in for stuart this week. 10 00 a. M. On the east coast. Checking out the big board. It is down by a modest decline on the dow. As stuart would say. I would refer to it as we have big news from the National Association of homebuilders. Ashley what are the details. Ashley it has been steadily climbing. It is a high for the year. Goes back to october of last year. Almost a oneyear high. This is a survey of builders, how do they feel about the current sales of Single Family homes and how do they look and feel going out six months. This is very encouraging sign. Low Interest Rates, solid demand has been good for the housing industry. The big problem for the housing industry is shortage of lots, shortage of places to build these homes and also shortage of labor. David interesting. Ashley very interesting. David that is what is happening all over the industrial world right now. Ashley regulations in california dont help. David big problem. Good news on housing. More on this coming up. Well talk with jerry howard. He is the ceo of National Association of homebuilders, the group that came out with those stats. That is 11 30 eastern time on the show. Back to markets. Markets essentially doing okay now. It is down 75 points. You couldnt call them flat. Investors wait to see what comes out of the fed meeting which begins today. We bring in market watcher scott shellady. Stocks snapped an eightday winning streak. I wonder if they go up again this week . Depends, you have good news about usmca. Looks like we might get something done on that maybe before the election. That has been kind of eking out. While the china situation i dont think it will be solved anytime soon there is a little bit of incremental news coming out there. Obviously i heard you say look as though this Oil Situation in saudi arabia might be clearing up sooner rather than later. Those types of things will give the market a little bit of boost. Here is my overarching feeling here something doesnt add up here. President bagging on rate cuts. Looks like a 95 chance of a rate cut but at the same time were running record highs. You have done this job a long time. When was last time we were at alltime record highs talking about a rate cut. David scott. The problem what is happening overseas. You cant ignore the fact that europeans continue to cut their rates. I know they have negative trillions of dollars worth of negative bonds but the fact is the dollar is not an island. The dollar exists in a world and it cant ignore what is happening in the world, can it . No, youre right. More so because of technology. Maybe 40 or 50 years ago it wouldnt be as much. But i also say this, right . Obviously cutting rates isnt working. Look what is happening in europe. That will not be the salve that makes this engine get any better. Any central bank doing anything right now, whatever they may be doing, may be quantitative easing, cutting rates, whatever, it is only a placeholder because they really dont know what to do. They hope they will get growth coming around the corner from some internet revolution. Were not throwing. David scott because you are in commodities, oil is of great concern to you, i have to ask, our Energy Secretary made a smart statement. Perry said well not be releasing any oil from our reserves because of the facts things are calming down. He said that last night. I think he is on the money, no . I think youre right. This is market psychology we dont talk about. A lot of folks jumped in oil, this might be a problem, oh, my gosh we might not have enough oil. If youre at 61 a barrel, are you getting nervous at 75 or 50 . You need something to rescue from the long bet. That is what happened right now. The market psychology takes over, 59, we might have to get out here because you need somebody to rescue from your long bet yesterday. You need to feed the bull every day. It is just not happening today. David how far do you think it is going to drop . I think look, if you go back to the beginning of the year weve been trading between 45 a barrel and 65 a barrel. I cant get excited until we get out of those areas. Looks like we might make a run at 65. Everybody piled in. Well need to feed the bull again today and feed it tomorrow, if we dont, everybody is on the wrong side of the boat, we sink back to the 55 level which is smack middle of range. David scott, good stuff. Thank you for being here. Saudi arabia oil minister will discuss the strikes on oil facilities. They said iranian weapons were used in the strikes. Lets bring in a former Defense Department official. Mark, the president has not definitely said it came from saudi arabia were almost, i would put it 95 right now, wouldnt you . I think thats correct. I think the president is being cautious pinpointing blame. That will immediately respond with a need for the u. S. To conduct some sort of a response. The administration is being cautious but forward leaning. I think you will see in the next few days evidence being marshalled ahead of the u. N. General assembly that will showcase iran is likely behind, if not directly responsible for these attacks, particularly that came iranian territory. David what is their goal here . Is it simply to jack up the price of oil . The goal for iran is essentially send a signal if were not able to export our own Energy Resources our neighbors in the region will not either. Their intent is push back against the u. S. Maximum pressure campaign, to show kays there will be real economic costs for doing that also to showcase or try to showcase the limits of the ability of United States to respond. The deterrent aspect of the u. S. Is seeking to create has obviously beener rode. Everyone is looking to the u. S. And Trump Administration how far they are willing to go with a series of attacks which is series of attacks iran has done. David they ratchet it up. They start with tankers. They take over tankers. Now doing drone attacks for saudi arabia. What is next for them . Iranians have a playbook. They have been very cautious to have attacks with deniability, both by using proxies in iraq and yemen, the conflict in yemen being a convenient for them to hide behind the emyemenis. They are escalating to continue to test u. S. Intentions and response. Facilities in the u. A. E. Or potentially in other gulf neighbors. There is a rich target area throughout iraq that could showcase the ability to strike at targets of their choosing. I think they will avoid u. S. Facilities and u. S. Personnel but anything is fair game short of directly hitting u. S. Military personnel. David if there is any pushback from us short of u. S. Person until being hurt or killed . I think you will see a u. S. Response. It will not be initially kinetic. Increased intelligence sharing, potentially increased u. S. Capabilities sent to the region. Obviously well coordinate with our saudis ally. If you see a military response it probably will be covert in terms of a cyber response. I think unlikely in the near term you will see a strike directly against iranian facilities because the administration wants to keep the door open to diplomacy. David mark, thank you. Walmart likely discriminated against female workers. Susan has details. Susan eeoc has found that walmart the largest employer in america, employing over 1 1 2 million people, they discriminated 178 female workers paying them less and denying promotions in at least 30 states. One of the employment lawyers quoted in the wall street journal who saw the internal memos. They said this is landmark, this is interesting, in 2001 there was a classaction lawsuit women brought against walmart, alleging that walmart systematically paid 1. 6 million less, denied promotions. This was struck down by the Supreme Court. They could not form a Class Action Group according to highest court in the land. This would be a settlement and changes to walmart practices in the future. David on a down day, walmart is in the green. It is not affecting the stock today. Purdue pharma files bankruptcy. 10 billion will be paid to state and local governments to help deal with the crisis. Is it enough, is it too much . Were asking ohios attorney general coming next. Well ask for the outbreak of vapingrelated illnesses. California man has become the 7th person to die because of a vapingrelated illness. There is an operation scepter to investigate vaping but is it all what it seems. President trump calling out the New York Times at a rally last night. He is calling for resignations rebirth of the New York Times. It is all about the article alleging Sexual Misconduct against Justice Kavanaugh. The times had to issue a correction to acknowledge the alleged victim had no recollection of the event which undermines the story itself. Were getting no that with Brian Kilmeade a little later this hour. At fidelity, we believe your money should always be working harder. 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The new aag advantage jumbo is changing the way people use reverse mortgages, and another way aag is working to make your retirement. Better. Call david Purdue Pharma filing for bankruptcy as part of a 10 billiondollar agreement to settle opioid lawsuits. Lets bring in Ohio Attorney general dave yost. Ohio is one of 22 states suing purdue. How much will ohio get from this settlement, general . There is a lot of variables still to be determined. The deal is in the aggregate worth between 10 and 12 billion. David are you worried, a lot of people understand very well the pain and suffering that have gone through by so many people that have gotten addicted the drugs were pushed on them not necessarily by pharmaceutical companies themselves but by middlemen who werent qualified to give instructions to doctors how to administer these drugs. There are a lot of people who need pain medication. Some folks think pharmaceuticals will steer clear of providing any new pain medication. Does that concern you . If it were to happen it would definitely concern me and one of the reasons why i think this settlement, and other settlements that may happen are in the longterm interests of the country is, we still need to have these medications. If you have a stage 4 cancer patient, they need to have their pain controlled and these are the most effective ways to do that. We need to be careful not to overreact here either. David how do you do that . How do you avoid the overreaction that plight keep pain medication off the shelves . Well i think we need to have an agreement. I think an agreement is developing about how these things should be supplied, limitations on marketing should be. Look we have limitations on marketing for alcohol and tobacco. There can be a good set of rules that preserves the marketplace while protecting against kind of abuses we saw for the last 15 years. David there are a whole bunch of new regulations being thought of with regard to vaping and i want to get your opinion on that, general but first some details. A seventh person died from vapingrelated illness in california. Ash . Ashley complications related to vaping. The seventh person across the country, california, kansas, minnesota, indiana, oregon reported a death related to ecigarettes vaping or lung injuries caused by vaping. Now the centers for disease control, the cdc says it is activating its Emergency Operations Center Taking a closer look. There have been close to 400 cases of lung illness now associated with the use of ecigarettes in 36 states. The bottom line they dont really know the longterm effects and already were seeing these health issues. David it may not simply be the nicotine. It may be theyre juicing it up, some users are juicing it up with htc and other substances. Exactly. David lets bring back dave yost. Ohio is preventing 4 million on preventing kids from vaping. Are you taking any actions to stop it among kids particularly . Yes, well, what you had said a moment ago is so key. There are other things in these cartridges. My labs out at bci have done more than 750 tests so far on batches of vaping cartridges. Were finding all kinds of contaminants in them as well. Were concerned, not only about the, industry as a whole but the purity of the thing. So i am adding my voice to the department of health and the governor of this state and a growing chorus saying parents, particularly, particularly your young people, your children, be very cognizant what theyre doing with their lungs. We have 13 people hospitalized in ohio. David exactly. But again, there are advantages to vaping. There are millions of americans who credit vaping with getting them off of Tobacco Products . Thats a good thing. It doesnt have some of the cars sin against in it. Carcinogens in it. The problem the industry is not very wellregulated and the data is starting to raise some serious questions whether we need to be looking at the purity standards. David yeah. Ohio attorney general dave yost, thank you very much for being here, again. Appreciate it. Coming up next, apple making a big investment in america. They are putting 250 million in a corning glass plant in kentucky. Well see what apples ceo had to say about it next. The uaw strike is costing General Motors 100 million a day. Not to mention workers spending or losing 1000 a week as a result of the strike. What i really want to talk about how the strike could be a big distraction from the unions own issues. Were getting into that with judge Andrew Napolitano later this hour. Oh, wow. You two are going to have such a great trip. Thanks to you, we will. This is why voya helps reach todays goals. All while helping you to and through retirement. Can you help with these . 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Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. David apple is making a 250 milliondollar investment in corning glass plant right here in america. They make the shatterproof gorilla glass screens for iphones and apple watches. Fox news radios bret larsen toured the plant. He spoke to apples coo he joins right now. Hi, brett. Reporter david, were inside of the conning glass facility in harrisburg, kentucky. Were in the middle of the Bluegrass Company where glass for all kinds of Smart Devices are made all over the world right here. A lot of people have misperception where the iphone is made. The iphone is made all over the world but a huge piece of it comes from the u. S. The glass comes from kentucky. The rf components that make the wireless work, they come from another location. We have, we invested in a facility in texas where there is research and development but it makes these little micro Semiconductor Lasers that make face i. D. Work. Even the flash on the back of the camera comes from the United States and so were investing all over. Last year alone we spent over 60 billion with over 9,000 suppliers in the u. S. And created 240,000 jobs doing that and so were committed to, were an american company. Were committed to manufacturing in america. Reporter so as you heard jeff williams, the coo of apple. We had an exclusive interview earlier today, were told investing another 200 million of this facility in harrisburg, kentucky. Rolling off the line, the robotic arm is pulling it off the assembly line, dropping it off on the pallets. It will become this, the front and back of the new iphone 11 pro. As jeff mentioned they work with manufacturers in 36 states. They have partners in all 50 states including hawaii are making parts of the iphone. David . David i strongly suspect they want the president to hear that message, that they are manufacturing here in the United States. They dont want anymore lectures from the president about bringing business back here to the states. Thank you, bret. Good to see you. Hope you get to keep those glasses. The Trump Administration repealed the controversy eel obama era clean water act rule. The rule follows through on a campaign promise. We have details from the epa administrator himself. Andrew wheeler. The makers of the dating app, tinder are getting into the tv business. They rapped up a series. Whats that about . Well tell you coming up. What a time to be alive. The world is customized to you. Built for you. So why isnt it all about you, when it comes to your money . So. 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The Dow Jones Industrial average it is down, by only 35 points. It was close to tripledigit loss earlier today. May have something to do with the lessening of concerns about whats happening in the middle east. They have still a lot of tension over there, but they revisit the situation with oil. Look at oil, by the way. The drop is now accelerated with price of oil. It was up double digits percentagewise. Today it is down 6 . It is coming down from the gains that they made yesterday, well under 60. Almost under 59 as ash was quick to point out. Brent, brent is moving a lot lower. Ashley it is. Down three bucks. David uber will now be restricting new york city drivers from using their app at certain times. Susan has the story. Susan you saw the protests that are bad. You had the brooklyn bridge, fdr, one of highways here in manhattan slowing to a crawl at 8 45 a. M. During protests by uber drivers. What theyre upset about the app last week is now restricting drivers from actually operating during low demand areas, in low demand areas and at low demand times. This is because in compliance with the taxi and Limousine Commission here in new york city which they say david has a lot of political power. Susan it has a lot of political power. They want to restrict the amount of cars on the road and also increase the wages for these drivers. When youre in low demand areas, it is times of low demand youre not making as much per ride, right . But in the end you think about it, it hurts the driver as well. What happens with the lost rides and lost commissions during these times they cant even get into the app to book a ride . David if anybody wants to look what is not up and up in manhattan. Look attacks sy commissions of the a lot of trouble there. Uber is down two and a third points as a result of all this. The epa refeeling the obama era waters of United States. This completing water acts this caused a headache among farmers by the way. Lets bring in epa administrator andrew wheeler. Good to see you, administrator. How did you untangle all the water regulations some which conflicted with each other . It was a problem and we did it, i have to say this was a promise made and a promise kept by President Trump on the campaign trail. He promised to undo the 2015 obama regulation and that is the step that we took last week and we will be replacing it at the end of this year with a much easier to understand definition as far as waters of the United States which is what determines Property Owners having to get a federal permit. David so is it fair to say that you just had too many layers of regulations . And again they conflicted with each other and made the rule so ambiguous it gave more power to the regulators coming in to tell you what to do with your own property . It did and the definition was very encompassing. In fact the Obama Administration, they had such a broad definition of waters of United States, they actually put in the regulatory text puddles were excluded. If you have to state for a fact that puddles are not waters of the United States then that shows that your definition is much too broad. David unbelievable. The farmers particularly were hurt by this bus there are a lot of puddles on farms, right . They were really hurt by this. Our goal when we have the new definition, the Property Owner whether its a farmer, homebuilder, anybody that owns property should stand on his or her property to be able to tell for themselves whether or not they have a federal water without hiring a lawyer or consultant to try to weed through all the definitions to help them. David i already heard environmentalists say this will lead to dirty water or more erosion or more both. What do you say . It wont at all. The one thing they dont acknowledge is the fact a lot of waterways are already protected under state law. So were also making a distinction what is federal waterway or a state waterway. What we did, went back to the clean water act, the law congress passed. We took a look at the Supreme Court decisions the court telling us what we need to do as far as regulating waterways. This all started, the clean water act defines federal waterways as navigable waters. This has been expanded over the years to the point where the Obama Administration almost included puddles. Puddles are certainly not navigable waters. David i have to say this sounds like a common sense ruling or series of rulings. It is just, just makes a lot of common sense. I would think even moderate democrats would be on your side on this . I think they are and they will be. This is something, the obama regulation, it got slapped down by a number of courts to the point as of last week only 22 states were still using the obama regulations. So you had 28 states using older regulations. What were doing in addition to repealing the obama regulation is going back to where we have one law for all 50 states. We will of course replace that with a new updated definition by the end of the year that takes a look at the science and we are using science to define what is a federal waterway. David epa administrator, andrew wheeler, thank you for coming on sir, appreciate it. Thank you, david, for having me. David absolutely. Lets go to detroit where Grady Trimble is at the United Auto Workers strike. Grady, any progress . Reporter david, not that we know of. It has been 24 hours since talks started back up yesterday. Were told in the beginning they were tense but started to get more cooperative as the hours went by. I want to bring in mimi edwards. She is the picket leader. How do you feel. Were fired up and we believe what were fighting for and were passionate about our beliefs and what were fighting for. You got it. Reporter as far as the company goes were told that they have 77 days worth of inventory according to analysts. So they have a prolonged strike if it comes to that but also their stock has been down since this thing started. Theyre losing 100 million every single day that it goes on according to some analysts. So they dont want to see it go on forever either. Uaw activated the emergency strike fund. The Health Care Coverage for these workers who are on strike will continue through the end of the month. Then after that the union will have to cover it. So that perhaps signals theyre ready for this to go on for some time. David . David grady, thank you very much. Now take a look at a headline from the detroit news editorial board. They say, quote, blame the strike on uaw corruption. I think we can get that headline in. There it is. Lets bring in judge Andrew Napolitano. He is the host of the liberty file on fox nation. Judge, 10 uaw officials have been charged with various crimes and corruption and so forth including vans pierson. He is sitting on the contract negotiations board . Yes. David he is one of the people negotiating this strike. The detroit news knows the uaw very well. They know detroit like the back of their hand. It is the back of their hand. Are they right the uaw is using this strike to cover up their own corruption problems . It is certainly a legitimate argument to make. A criminal complaint was filed with a federal magistrate last week. That is the precursor to the raid by the fbi on the home of the president of the uaw. In the criminal complaint he has identified as uaw official a. This official a, official b, and official c, not named by their proper name in the complaint. Once these complaints have been filed, which this has and the raid has taken place and the fbi has sifted through the evidence, what do they do with all this . They present it to a grand jury and seek indictments. I suggest to you is going on even as we speak. David i know youre innocent until Proven Guilty obviously but at the same time should the people who have been charged actually be negotiating in the strike . Only in a labor Union Situation in the United States. Ask me who is paying the salary of the Union Workers while they strike . Gm. Because they have an agreement with General Motors that said even when david coming out of the union fund. Not yet. They dont get their full salary but get their basalry from General Motors. Depending on how long the strike is. When that stops david its a pittance compared to their salary. These workers are losing 1000 we always talk about gm, how much gm is losing, that is a lot of money. But proportionally tougher for workers to deal with 1000 less each week. Here is the detroit free press, the one you and you talked about in the wee hours if this strike is subterfuge to divert public attention from the likely criminal activity, likely, not certain, likely criminal activity of the labor Union Leaders, who has been hurt the most . David the workers. The labor Union Members who chose these people to be their leadership. David there needs to be a shakeup at the top of the leadership clearly. If this indictment criminal complaint becomes an indictment, which i expect it will, there will be a shakeup. David if particularly theyre using the lives of their members for their own personal safety, in terms of guarding them from the possible indicts, that is criminal activity itself. It is not unprecedented, not unheard of for a Labor Union Member negotiating with management to be under indictment. David judge napolitano that is for sure. Thank you, judge. Stew leonards big Grocery Store chain opening a new store in new jersey. This is a beg one. This is whopping 80,000 square foot store. Even Martha Stewart was there to celebrate the opening. Stew leonard, jr. , will be there to talk about it next. Only pay for what you need. Liberty, liberty, liberty, liberty 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. david tinder, the dating app is getting into showbusiness. Lauren simonetti with us. Youre laughing. David what kind of show, as ashley pointed out rightly there was the dating game. Ashley back in the 70s. Ive been trying to track it down with match. I see all morning but there will be a apocalyptic tinder show about love. Would you watch that on continueder . David i might be tempted to tune in at least once. I dont know if i would be a regular. Matters how good the stories are. They apparently wrapped up filming last month in mexico city. Its a series, original content. Why are the dating people getting into original video . Airbnb is trying to do the same thing with video. Even costco. It is about user engagement. Brand awareness. David not hurting the stock. Match group is the stock, right . 10 billion in valuation, owned by match. Controlling shareholder match, barry diller, hollywood mogul, his iac group. That is the whole story. That stock is up about 2 . David theyre both up. Susan, interesting story. Begs many questions. They have tinder life which is their website. Youre on the ap, get culture from the website, watch videos from him theyre more enat that freighted i suppose, i suppose. I dont know. I have never been on tinder. All i know its a apocalyptic. Ashley i think that says it all. David actually not a bad tease. Would you watch isnt. David again i said maybe once. I dont think i would be a regular watcher. Youre excited about something happening in your neighborhood, rye . There is a Grocery Store. Stew leonards opened as last night this is huge deal. David guess who i have to my right, stew leonard himself. He is opening a huge store in new jersey, 80,000 square foot in a Grocery Store in a mall formerly occupied by Sears Roebuck. Welcome to stew leonard, jr. I have four daughters. Are they on tinder. Always talking about apps. One on bumble. She met her husband. David that is quite an endorsement there. Talk about what youre doing. 820,000 square feet. Why does a Grocery Store have to be that big . Were mainly fresh, perishable. We buy stuff direct from the farms. We have 100 local farms from. So we need big back rooms. We also make a lot of stuff on premise. So we need production. Half of the store is retail. Half of it is the production and storage. David the production is kind of fun to watch. If you bring the family in to go shopping you can have a free show. Like a big farmer es market. We had Martha Stewart there. We had big 10pound salmon. Held one up was grabbing it. Customers like to see it cut fresh right in front of them. David they do. Were different than walmart or a big Grocery Store because we dont have as much stuff in the center of the store like all the packaged goods. Were mainly perishable and fresh. So we try to create this thing we call show and sell. David so its a whole family. You try to get the family to go together. As i point the out, as you were quite pleased with, this is taking place in old Sears Roebuck store. One of the reasons why sears went under, some mall type situations went under but maybe that augers against what youre trying to do. How do you respond . My grandfather started delivering milk in the 20s. David wow. My father was a real entrepreneur. He started retail in 69 with milk and dairy. I would say you have to have an innovative culture. And i always say to everybody, if you get three hits out of tenure in the Baseball Hall of fame. We have to constantly keep trying new things. We added augmented reality to the new paramus store for the kids. They can learn about to color and count, water safety. We added Artificial Intelligence that measures food as it is being produced so we keep waste down to a minimum. Were trying new things. David do you have an organic section competing with whole foods . You know what . Organic we have a nice selection there, but we dont have 50,000 items you would see in a supermarket. It is mainly perishable. Well have all the berries, strawberries, blackberries. David best of luck to you. Charlie gasparino is a huge fan. He apparently goes to your store in connecticut. I love it. I love it. Opening our seventh store in paramus park mall. We hope to have you. Are you delivering at all . I love to go to the food store. Foods love to go to the food stores. We have sip cart. Zip cart. David last night at a rally in new mexico President Trump called out the New York Times this after the paper made a major correction alleging Sexual Misconduct about Justice Kavanaugh. Well tell you exactly what the president said and see what Brian Kilmeade makes of it. Thats next. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. 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She doesnt but they still so the New York Times had to put out a major apology. They had to change their story. The woman said i dont remember that. They still want him to be impeached david brian, trump versus the times. Who is winning . I think it is bigger than that. The times versus the times. The news section of the New York Times turned down the story. The opinion section took the story, excerpts because the writers are New York Times writers. They wrote the book about the education of Brett Kavanaugh, whatever it is called. I dont want to sell anymore copies because it should be under the fiction section. They now blame the New York Times opinion editors for taking out the part where the alleged victim doesnt remember being a victim. Then we find out, so get this straight, the writers of the book blame the opinionated editors for taking out the portion that Mollie Hemingway found they left out, that they taped an npr interview earlier. David which undermined the entire premise of the article essentially. Yes. But guess what . How much damage is done . For three or four days, every candidate is finding a microphone saying it is time for Brett Kavanaugh to be impeachment. I want a more extensive investigation. Look at that story, these horrible descriptions of an event that probably, more than likely never took place. We all have to read about, which we have to pick up a hustler, which we never did, to read graphic testimony, never took place, trying to sully a Supreme Court justice who by all accounts has had a great rookie year. David sure. All of the mistakes now are as obvious to everybody as they have been to you and me for years now. Rush limbaugh says you have got to be careful, theyre getting what they want. The Mainstream Media will always use this story as an as terrific against anything Justice Kavanaugh decides on. They may say he is unqualified to decide on cases that somehow involve women. That is true. Here is my analogy. It probably will be, might fall short. Lets say someone comes into your living room, turns the table upside down, and throws the chairs all around. David you know about my parties, right . I know what it is like to be at an asmanifest val. Well arrest the assailant. Theyers a the person. The house is still a mess. They hurt his reputation by accusation. They keep moving. They took their shot. The guy paid a price. The New York Times reputation has dropped. All those candidates said he should be impeached do look ridiculous. Including a member of the squad came out, said there is time to do it. Having said it is bringing kavanaughs name up in a negative light. He should be a nameless Supreme Court justice we analyze his career in decades. David where do i get my reputation back. I remember somebody saying that after he was falsely accused a few years ago. Quickly, only 40 seconds. Colin kaepernick getting an emmy the ad he was in got an emmy . Tell us about it . I think the add is good, well don. David this was the first ad that came out and there have been subsequent ones. Go ahead. Talked about his sacrifice taking a knee. The problem this isnt muhammad ali, this is not Martin Luther king this is a guy that was a backup quarterback, took a knee, grabbed something on it, blame Law Enforcement for what is happening in this country. Now is a martyr. Cant get a job. That is not muhammad ali. That is not jim brown. That is not Kareem Abduljabbar standing up for race in america. He took a knee because it was convenient and depressed. If he was starting this whole thing wouldnt have started. The ad was first class and the message was strong. David every time i think of Colin Kaepernick i go to the protesters in hong kong flying american flags as symbol of freedom. It is still a symbol of freedom around the world no matter what Colin Kaepernick or anybody else does. That is what our red, white and blue is all about. Brian, good to see you, mr. Red, white and blue. Go get them david asman. Thanks. David 35 million disappearing from a payroll company. Ashley, what is that about. Ashley what a story. My payroll hr. Is it is a cloud based Payroll Processing firm vanished into the night. 35 million missing. They processed payrolls for 250,000 employees working for various companies around the country. Many of these employees have been paid for two, get paid every other week. Have not been paid. Where is the company . Where is the ceo, michael mann. Big story. The fbi is on it. David thanks, ash. President trump beginning a twoday fundraising swing through california. A lot of money expected to be donated to his Reelection Campaign but we cant tell you where exactly the event are being held because the locations are secret. Is this all because of hollywood trump shaming . Well ask a question coming up. The governor of california considering outright ban on some vaping flavors. As a california man becomes the seventh person to die of vapingrelated illnesses but there are other factors resolved. 80 of the americans think we have lack of Affordable Housing in this country. National association of homebuilders crunching the numbers. Their ceo joins us next hour. More varney after this. This is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. Aewith Medicare Advantage plans designed for the whole you body, mind and spirit. That means aetna is helping you get ready to be the best grandmother the world has ever known. We simplify medicare by connecting you to the right coverage, resources and care. So you can be ready for what matters most. Aetna medicare solutions. It is 11 am in new york, 8 am in california. We have a jampacked our ahead. We are talking space streaming, seinfeld, real estate and sports. We start with your money, the markets are trading where they have been for the past hour, dont just under 50 points to 27,028 right now. A modest loss on the markets. Oil is a positive thing if you are a consumer. It is down under the 60 a barrel mark. The Oil Companies are not happy about this but a big come down is not enough to make up for the boom after the problems in the middle east, but a big drop in oil today. The fed decision on rates tomorrow, Jeffrey Cleveland is with us. You say we are going to get accorded point, anything more is unnecessary, why do you say that . It is unwarranted. The economy is in good shape. That is the key message for investors to take home. We are seeing a us consumer in the Third Quarter spending at a 3 4 clip. Thats a good sign for overall gdp growth, expecting overall growth this year to be 2. 5 and that in the environments where inflation is around the feds target, in that backdrop i dont see the need for a more aggressive easing program. Dave when you look what is happening overseas, we cant ignore what is happening. In the fed maintain the stability of the dollar against world currencies . From their standpoint if the dollar were to appreciate they would view that as a hit to financial conditions that would offset their easing so they would take that into consideration. The bigger concern is the dollar is counter cyclical. Were in the rest of the world is slowing down the dollar rises in value. The world sees a little pickup in activity that should push the dollar lower. What we really need is the Global Economy to stabilize and pick up here. Dave they do that, the only way they will do that is doing what we did, cut tax rates, cut regulations, they dont have the political will to do that. The good news is some of the reason the Global Economy has slowed is due to the fed. The fed is a global central bank, they hiked 8 or 9 times putting up the value of the dollar and that had global manufacturing. The fed is going the opposite way pivoting dramatically, cutting rates. That will ease the dollar a little bit and that will lift global activity. That is the good news. Dave the president wants cuts far beyond 45 basis points. Hes in favor of Interest Rate of 0 or less. What is your take of that . I tell him the medicine is worse than the disease, negative rates are not working in europe. You have negative rates in europe the better part of a decade, more than half of the decade and they have sluggish growth and low inflation so the medicine did not work for europe. It causes a lot of pain in the banking system, misallocation of credit, we should avoid it. It is good the us is in better shape but we dont need to go down that path. Dave i agree on negative interest. 25 basis points is needed, but i hope they never in the United States, good to see you. Check the price of oil, down after yesterdays search, no clear response from saudi arabia or iran on those drone strikes over the weekend on a saudi iran plan. Former state department official, you think iran will get away with this . That is what the market is telling us just off a couple dozen points. With oil going back down today, that means people are presuming that when he ran shot down a u. S. Navy aircraft in International Airspace we did nothing but i think they should do something, they got attacked economically, militarily by iran but we dont know what is taking place at high levels but the market is telling us it is not going to happen. They shot down our drone, taking over oil tankers, Bombing Oil Tankers and they do this. Is there any red line. If any us personnel is injured or killed by some kind of attack from iran we would do something but anything short of that when we would do something . Iran is creative about understanding where redlines arent going around them, on top, underneath, killing 241 marines in beirut, taking diplomats hostage, killing hundreds of americans in iraq in the last decade. All that among the more recent affronts in the persian gulf. This country sees itself at war with the west, building a Nuclear Program but seems very creative and avoiding the red line. Dave we are at war with them or should be. Good to see you, thank you very much. Check gm, day 2 of the strike. Grady trimble joining us from the picket line in detroit. Talks are going on about 3 miles from here and there is a small group of picketers out here today on day 2 of the strike. We are told the conversations during contract negotiations started tense but got more cooperative as the day went on. We are taking 250 a week from the union so i asked one of the members that comes as a surprise to some of the picketers, i asked one of the members how long you can feasibly do this, she said as long as it takes. At some point she admitted they will reach a breaking deka where they cant do that. The companies have 77 days of inventory according to analysts but losing 100 million a day. Other analysts say. How long this can go on we will see. Dave both sides are unhappy. In arlington, texas, following the strike. Reporter to add to what grady said, talking about 77 days in terms of supply. Im at a plant where they mostly make suvs. There supply level is lower according to cox automotive. The issue is when is this going to be over, they have been striking, going, rotating through shifts but if you are looking at the signs, you have sources saying it is 10 so for now we are waiting. Negotiations dont seem to be going anywhere yet. Dave thank you very much. Take a look at the automakers, growing supporting congress for a new tax or fee on electric cars. Ashley the problem, many would agree, highways and byways need fixing, infrastructure. The classic way to pay for that is a fuel tax. Cars are doing a lot more miles to the gallon. Then throw in electric cars, less money to pay for the roads we all use, including electric car drivers so theres a new one to start charging people who drive electric cars a user fee to use the highways and this is not unusual, 26 date of instigated some sort of the. It is great you are using electric but still using the highway. Dave you get a tax refund for buying an electric car and then you pay taxes for driving an electric car. Dont they cancel each other . Get rid of all the taxes. The governor of california wants to hop on the bandwagon to ban ecigarette. Reporter governor gavin newsom issued executive action telling state regulators you have to figure out a way to reduce vaping consumption, a rare overlap between california and the Trump Administration saying if you are doing tobacco flavor, you are aiming towards children so the governor of california is saying there is a crackdown if you sell to somebody under 21 you will face fines. He also okayed a 20 Million Campaign to put more graphic pictures on these products. You see those, you buy cigarettes you see a black lung. Hes trying to spend money to let kids know these products dave Morgan Stanley and goldman say the space industry will be a multitrillion dollar market. How do you make money on that . We are going to talk to a space investor who says the next big thing is manipulating mass while in orbit. What is that about . We will tell you next. And Housing Market new numbers show the vast majority of americans say the country is suffering from Housing Affordability crisis. We will ask the National Association of homebuilders ceo jerry howard what is happening. Donald trump getting ready to fly to california for a big fundraiser after his rally in new mexico. What kind of reception will he get . Can the president flip a blue state read . The third hour of varney just getting started. At fidelity, we believe your money should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. Why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief reporter if you are a Public School student watching this program pay attention. We have good news. If you are watching the program youre probably not in class the city is allowing you to play hooky friday. Use climate strikes happening in new york city friday and according to the New York Times, they are debating what position to take. If your child goes to Public School and doesnt show up friday, will he or she the marked absent. Ashley an opportunity to get off school. Why didnt they hold it on a saturday morning . Ashley to call playing hooky a strike, it is still there was one line in the oracle, there is some concern some kids will want dave all right. Donald trump in new mexico last night for a keep America Great rally back in 2016, the votes the state voted heavily in favor of Hillary Clinton the president is determined to change that. You are doing better than any state in the United States. How do i lose new mexico . Claim that. For whatever reason it has been quite a wild since a republican won the state. I think we will win the state. Dave American Conservative Union chairman, big theme last night, rowdy rallies look like a tremendous success, the president against the New York Times, in new mexico how much do people care about the New York Times . They dont care about the New York Times. There is a door. I live in the corridor, you live in the corridor between new york city and washington tc and we are transfixed with ourselves and the rest of the country could give a crap. The president is so smart to go after these states. We did a big see pack in minneapolis and minnesota and in reno, nevada where californians are fleeing into nevada to escape the socialism of california. I find the people in these states have been forgotten by republicans. Dave though they dont care about the New York Times they care about elitists telling them how to live their lives. Or lying to them, feeding them false information, attacking good men like Brett Kavanaugh but they wont relent. Dave trump is the first politician and long time to take on the elitists, telling them what they care about and what they believe in is wrong. He says theres nothing wrong with patriotic, nothing wrong with being in favor of life, nothing wrong with being in favor of traditional values these elitists to to their nose at. Use a traditional, i will put another word, how about american values, that we should be proud of our country, that we should stand for the flag, the idea that we should go to school and not play hooky. These are american values, help make this country a great country. Those protesters in hong kong are quoting our founders whose statues we are taking down. We are forgetting our own history and their own magnificence and our own uniqueness. Dave is a political side, in favor of donald trump, they feel they should be happy and celebrate the fact that they are in favor of donald trump but you have this trump shaming which is the penalized by the way they are dealing that is why this meeting in San Francisco, nobody knows where it is, do you . I dont. Dave absolutely i dont have a ton of friends in Beverly Hills but the thing is theres a long tradition to going to private homes for fundraisers, the cameras are kept out of those homes. The difference is there is a real search and destroy, what Brett Kavanaugh has gone through they want to do to everyone who supports trump. I walked through the middle of minneapolis airport, a liberal city. It was called some people did something with omar. One came up to me and screamed i support donald trump and so does he. I said be careful, i am going to get hit. The thing is people feel so ashamed, you have moments you want to express yourself. These rallies are good for our politics, they are cathartic. Dave nobody should be ashamed of being for a particular president ial candidate on the left or the right, that is the bottom line. Great to see you in new york. Lets get a quick stock check. Apple is all about the new colors for their iphone 11 rollout, midnight, green and purple models reportedly doing betterthanexpected. Add that to the 700 starting price, the phones go on sale this friday and the stock is up. Not all is rosy and integral. The Senate Subcommittee with cory booker and Amy Klobuchar will be ruling joseph sevens antitrust attorney general on how they are handling the probe into big tech. We will bring that to you as well. It has been more than a year since roseann was fired from her own show for a controversial tweet. Shes hinting at a comeback. The screening war continuing, seinfeld heading to netflix, how much money it took to move it there next. Im off to college. Im worried about my parents retirement. Dont worry. Voya helps them to and through retirement. Dealing with todays expenses. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. Your business is up and running, but is it going beyond fast . Comcast business gives you high speed internet. We also have Solutions Like powerful wifi that gives your entire business more coverage and automatic internet backup that can keep your business running. And it all starts with our gigspeed network. So give us 10 minutes. If we cant offer you faster speed or better savings than your current internet service, well give you 300 dollars for your time. Call now to get your comcast business 10 minute advantage. Comcast business. Beyond fast. As a principal i can tell you this. When one student gets left behind, we all get left behind. This is a problem that affects each and every one of us. Together with ibm, we created a whole new kind of School Called ptech. Within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. You know whats going up today . My poster. Today, there are more than a hundred thousand ptech students around the world. Its a game changer. You forgot my bread. Bread, 2 extra. The one in front of me got free bread. You want bread did you read dollars nothing for you dave how can you not love that clip, classic clip from seinfeld. Netflix paid the time and won the global rights to stream it. Reporter we are talking up words of 500 million for seinfeld and they get all 180 episodes, offering it to all 151 million subscribers. This is a big coup for netflix because they are losing friends, they are losing the office. To have a franchise like this will go well. Dave next case on streaming service, hbo landed another highprofile deal for the Big Bang Theory. Ashley we have no idea how many, financial details not disclosed, in keeping with the theme it was out of this world. The Big Bang Theory probably the last major comedy franchise out there that has not been introduced to the streaming been era. Tbs has been airing Big Bang Theory reruns for a long time and will continue to do that for quite some time. They paid a pretty penny for that too. Dave a year after she was fired from her own show for questionable tweets roseann is planning on making another comeback. Shes going to stand up with andrew dice clay, mister and mrs. America tour. It kicks off in new york, long island, september 19th. Shes going to stage a comeback starting with standup comedy. She loves it, she has done a few many sets with andrew dice clay. Dave what a pairing. New numbers show the vast majority of americans say the country is suffering for the housing affordable the crisis. We will ask the National Association of homebuilders ceo jerry howard what can be done about it. We will be talking about our resident real estate agent, talking to her about solutions for the millennial who wants to invest in property, details coming up. The world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Ever since you brought me home, that day. Ive been plotting to destroy you. Sizing you up. 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Dave very moderate losses on the dow, we have one more green than we do read on the screen which is good news, the dow is down 30 points, hovering around triple digits, oil is the big positive factor. Jumped of yesterday but a strong pull back, under 60 a barrel. I want to get to new numbers on builder confidence. It is at its highest point of the year. Jerry howard is with us, this is great news. Very good news. All the talk about a recession coming doesnt indicate that. Our industry is positive and dave the media and democrat commentators talking about a recession were dead wrong . If you build it they will come but dave nevertheless you had a survey about home affordability, it was done over the august monthly came out in september. A lot of people are worried about that. The overregulation, the difficulty adding financing for construction has created a supplyside problem making housing less affordable. Less affordable than in the last ten years. A little over 50 of americans can afford the average price house. Usually the numbers in the 80 range. Weve got some issues here. What is interesting, to see the president has taken steps, the president convened a task force of cabinet agencies asking them to do what they can to remove federal regulations. Dave have you noticed changes already . The one we are talking about, the epa administrator with the waters in the us, a huge step in the right direction. There have been 18 other regulations that have been rolled back. The keys to get states and localities to do the same thing. Dave part of the problem, the success of this economy, job situation is so good that it is getting tougher to find people to build houses. Thats why inventories are pseudo. Labor is a huge issue. There are 260,000 open jobs in the construction field. We are trying young people trying to train veterans coming out of the military to build up our labor supply. Dave has the salary of people involved in construction increased to the point it will draw more people in and this shortage will be solved . People working in the construction trades make around 6 figures a year and you can set your own hours, own your own business, make a 6 figure salary but it is not considered a whitecollar job. We are having to change the pr on that. Dave despite these problems, the bottom line is the numbers became out today so this is anything but a recessionary economy. We believe there has been a slowdown but we think we will bounce back and be strong in 2020. Dave i have a guest, i want to bring you back after we talk to a millennial real estate talk, samantha bianchi, millennials who want to get into real estate. I understand you heard about this survey, there is good news for the numbers but bad news in terms of people believing they have enough money to get into real estate. What i am seeing more and more as if people cant afford their primary homecoming in california 1bedroom could cost 1 million. You have to resort to renting. In San Francisco alone the median rent prices 3700 a month, pretty crazy but a lot cheaper than putting 20 down for 1bedroom costing 1 million but people a special Millennials Want to own real estate. They are looking at other markets and buying properties for 150,000, taking back a couple hundred dollars on rent and collecting more and more of these and paying for the rent plus some. That is exactly what i am doing. I may be the antirealtor in that sense. Dave like a game of monopoly, you buy houses to rent them out and it pays off. I rent my primary and i owe 9 singlefamily homes and they pay for my rent plus put money in my pocket. It is all about passive income, extra cash flow. Plus theres a lot of tax benefits as far as owning property. Dave what specifically . I can rent all kinds of things, when furnishing a property, putting them on air b b so there are benefits behind that. The longterm appreciation. I sold one of my homes after two years, made 170,000 after two years. Dave what do you think of it . Interesting idea. After the recession theres a certain market niche where people are building singlefamily homes but in the end most americans when you talk to them and we poll kids coming out of college, when they start a family they want a singlefamily house with a backyard, Good School District they can own. I think this is an interesting niche that helps kids save for the ultimate down payment for the house they want but in the end the American Dream is to own your own home. Dave what happens when you come to the point you want bigger homes for yourself and building family, growing family, consolidating the little ones, is that a hard thing to do . As far as me personally . Dave selling them off because you want to sell a lot to get a bigger place for yourself. Usually by if you can. I suggest to everyone else you have to have the money in the bank, you have to have it security. I sell them off as i see i can make money for them. I make 175, another i make 300 but the ones i know i will not make any money i hold and wait and i would like to say people want to buy these homes but if they cant, renting is a great option and an option people shouldnt downplay. Dave you have a personal reason for wanting to consolidate. You have a new ring on your finger and you have a family yourself. Very soon. Dave great to see you, thank you for being here. Another stock over snap, shares posting a nice gain, raising their rating to neutral from negative. Big airline names were down big yesterday because oil was way up. Now looks like more of a blip than anything, mostly up today. Next case we are just a week away from another government shutdown. It will start october 1st. The new report on the cost of the shutdown. Senator morgan will a about. We told you about this earlier. The space industry will be a multitrillion dollar market in the next 20 years. How do you make money on that . We will talk to a space investor who says the next big thing is manipulating mass while in orbit. Colin kaepernicks nike ad won and emmy, an example of more liberal bias award shows . More varney after this. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. The ncome on. Y glc. [ cars honking ] its so late. Yay. It fights traffic. No parking. I told you. Oh, a spot hold on. It fights tension. Seriously, did you take my phone . Passenger light on. It even fights. Fighting. Innovation that keeps people together. The 2020 glc. Lease the glc 300 suv for just 479 a month at your local mercedesbenz dealer. Dave you might think that was a mistake but it wasnt. That was metallicas enter sandman plate at the white house as donald trump awarded mario now rivera the president ial medal of freedom, using his intro song when the yankees brought them onto closeout game, he put batters to sleep. Steelers fans, time to say goodbye to big ben roethlisberger, out for the season, all about his elbow. Ashley an mri showing there are problems. He is done for the season. Terrible news for the steelers. His backup came on in the second half against the seahawks sunday. This really turns a lot of things upside down for the steelers. Ben roethlisberger is a beast. His last injury was 3 years ago. He holds all sorts of records for number of games he played but this slowed him down. Dave Colin Kaepernick and mikey, turns out they are enemy awardwinning dream team. The dream team dream of crazy at won for outstanding commercial, this was believe in something even if it means sacrificing everything that was his nod to being a role as an activist, the first nfl player to purchase racial inequality, they became very controversial but the sad just won and emmy. Some people burned the nike gear, some people lauded nike for choosing him. Stock didnt hurt, last year was up 36 . Dave if you like or controversy you may not like what they do, they like the controversy. Next case we are a week from another government shutdown, the possibility that it will start on october 1st if no spending deal is reached. Senator rob portman, you have a new report on the cost of the shutdown. Im disappointed you didnt have a walkon song for me. Dave what would you like . Stairway to heaven or Something Like that. Something simple. These government shutdowns are stupid and everybody realizes that what we want to put some numbers to it, we did a 9month investigation, got all the agencies to tell us how many lost hours there were, 500 million lost hours of productivity, the cost to taxpayers, the biggest cost is although people are furloughed during the shutdown, they are paid after a shutdown even though they are not working during the shutdown, that was 4 billion to the taxpayers and that is not the worst of it. A bunch of agencies couldnt tell us. They havent made the calculation. It is worse than that. Dave to be a contrarian markets dont care about shutdowns. The last four the s p 500 did better than average. What would you tell investors who say we are fine with shutdowns . Another data point they wont like, Economic Growth in the First Quarter was 3 revised. Should have been 3. 4, 3. 5 . There should have been a 4 5 increase in gdp growth. That is huge. It does affect the economy in negative ways. You have to look at this and say why does washington get in these situations . It happens from not doing our work, not doing annual appropriations bills. We havent done all the 12 spending bills, then you do a shortterm resolution that gets hung up and you end up shutting down the government. Not an easy way to do business. Dave it is because of what they spend their time doing particularly in the house, all this impeachment stuff. The phony investigations that lead nowhere. Lets take one example. The new mexican canadian us trade deal, if we get that through that will increase gdp. It has sanctions that improve it enormously over the old nafta deal but there is no time to get it done because they are tied up in impeachment stuff. Will that change . You are right and this is what you would call a nobrainer when you compare us mca to the status quo which is nafta. It is better for the economy, gdp growth is projected to be more than it had been had we the transpacific partnership. A lot of democrats that we should have done that. This is bigger gdp growth. Mexico and canada together, it has Environmental Standards that are enforceable, labor standards that arent forceful, not in the existing agreement, the minimum wage for autoworkers, 50 of the production which would help our auto jobs here which is why the International Trade Commission Said it would result in thousands for otto jobs in america. This is good stuff. If the speaker took it to the floor for a vote which she could, not spending as much time on investigations and policy, i think it would pass. It is too logical, even in his town people would understand, heres the status quo. Dave it would give tremendous leverage to our negotiations with the chinese. If they are afraid we are cutting all these deals with our neighbors, people that were ideologically closer to and spiritually closer, that would put pressure on them to come to a deal but do you think theres a chance of getting a deal done before the election . I do. The logic, there is it is so obvious, there are democrats who have been against nafta from the start. Some like nancy pelosi bigger career on attacking nafta so that is the alternative, that is the status quo. If you are voting against us mca you are saying nafta is fine. Thats not where most democrats have been over the years. I hope we will get this done and help with regard to the china negotiations and help our farmers which is why thousands of ag groups are for this because they want new markets and it opens new markets across the board for american farmers. Dave lets hope it gets done. Thank you, we will have that next time. Stairway to heaven is your theme song. Appreciate it. Check bit coin, it is down 82 trading at 10,222 and gold, a big pop from the uncertainty yesterday. Today it is up 1. 60, 1513. 10 an ounce. Now to space, the final frontier. Investors coming up next. We will tell you how you can cash in by investing in the space industry, details coming up. See thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. 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. Dave some interesting news, jewel sales have been halted, not in a particular state but in china, the whole country. I suspect this is more payback than concerns about health. The jewel products were only on sale for a few days to begin with so it is sort of their debut so websites like jd and ali baba removed the vaporizers and refills with no explanation. Ashley the worlds biggest Tobacco Market and they are at a loss to know what is going on. Dave we are worried because of health concerns. I dont think there government really cares. They have a lot of smokers there. Dave you would think them i thing it is a poke in the eye against our trade tariffs. Our next guest is an investor in the final frontier, we are talking space. Might sound a little out there but Morgan Stanley and goldman say it will be a multitrillion Dollar Bargain in the next 20 years, already paying back billions. The cofounder of space angel. The average investor, i want to know how they can make money from space. The easiest monetization is data and analytics. If you look at the hardware that is in orbit right now and its ability to measure what is happening on the earth and products and services around that. Dave using what is out there already is one way of doing it. What about aspects of what is going on in space. I hear satellites are falling in their orbit, need to be pushed back, other satellites need to be doing repairs. Is that work being done now . A big theme in 2020 and beyond, spent a lot of years getting master orbit, building logic abilities. It is how you manipulate those things now that they are in orbit . Refueling is one. We are inclining to a higher orbit, in some cases the orbiting. And protection. The space forces about protecting assets. Dave like putting gas stations in space to refuel, to stop the orbital the descent etc. There is also a great interest on the part of some in terms of mineral research, mining on places like the moon is the most obvious but also asteroids and stuff. That is pretty far in the future. It is pretty far out in the future. If you look at how you capitalize Something Like that it is nation state level. It is hard for a private investor to capitalize Something Like that. Having resources on the moon you can manipulate for things like space manufacturing and other things, could be interesting in the future. Dave on the other hand, for the individual investor, i am looking at china and what they are doing on the dark side of the moon right now, thinking they are a country that is used to going into a place, taking their resources and running with it. Do you think that is what they might do right now . They are looking at settlement on the moon as we are ultimately. We said we would go back in 2024, we are going to stay, china is thinking of it the same way and if youre going back to stay you need resources there, you cant bring everything with you. If you look at pioneers, they are always bringing things with them at the minimum scale. Dave what are you investing in take you across the board. On orbit servicing, space manufacturing is interesting and data and analytics because it is the capital efficient model with a minimum amount of capital. Dave when you look at people like elon musk and multibilliondollar investors who have money to put satellites up, do you look at that is something totally out of the market for an individual investor . Is that something just billionaires will do with their own money . There is that model, i call it benefactor capital, jeff bezos being the most famous example. The most likely cases will have consolidation. We have Holding Companies and ultimately the right model for those companies is to be publicly traded. Retail investors should have a choice for publicly traded space in the next 24 months or less. Dave good to see you, thank you very much, appreciate it. Hard sells there is the race for millennials and theres a shortage of one of the most popular brands. It is called white cloth. It is an alcoholic seltzer. The same company that owns the lemonade, the company had purposely limited supply, a Beverage Business that a out location but it seems the demand was higher than anticipated so they are facing shortages and they will try to ramp up production into the new year but it is popular with millennials. It is a big beach drink if you look at a lot of instagram seeds. It is relatively light, tastes like seltzer. Ashley sales in july of 283 . Dave i dont think we will talk you into trading your beer for seltzer. More varney after this. During the fall, everyone who has medicare may be eligible to choose a new Medicare Health plan. But you may be able to choose a new plan right now. If you answer yes to any of these questions are you turning 65 . Do you have both medicare and medicaid . Do you. H. To choose a new Medicare Health plan right now. Call humana at the number on your screen to see if you qualify. And well send you this helpful medicare ee, and theres no obligation. Humana has over 30 years of medicare experience and offers a wide range of allinone Medicare Advantage health plans that include medical and Prescription Drug coverage and valuable extras like a 24hour nurse advice line. The silver sneakers fitness program. And mail order prescription coverage. All for an affordable monthly plan premium. And, in some areas, no plan premium. With humana, youll get more than original medicare alone and have the peace of mind of knowing youre covered for doctor visits and hospital stays. Plus, routine physicals and preventive screenings. And when it comes to prescriptions, in 2017, humanas Medicare Advantage Prescription Drug plan members saved an estimated 6900 on average on their prescription costs. So call a licensed humana sales agent today at the number on your screen, to see if youre eligible to enroll today. And say yes to getting the right Health Care Coverage without having to wait for it. David only 20 or 30 seconds. I want to talk about seinfeld. There is something about this show. I put it in the class of i love lucy, dick van dyke, these classic situations shows hold up forever. They do. Situations are great. Everyone loves. Netflix got all the episodes. We think they made a deal around 500 million. That is good for netflix because they are losing the office or friends. David even people thought they had enough watching it on old shows. I dont think they have had enough. Connell mcshane in for neil cavuto. Were watching a lot of developments here. Im Connell Mcshane filling in for neil. The oil price is down today. While gm workers have been striking, toyota is spending. Well talk to toyotas north american head of manufacturing on the show today, talking about the next big investment that company is making here in america. Plus apples coo talking and doing the talking