Transcripts For FBC Varney Company 20240713

Phase one trade deal, there will still be challenges between the United States and china, even after that trade deal is complete. Maria mr. Secretary, we thank you for your time today. Of course, we are always giving you best wishes on your trip. Thank you so much. So long. Maria secretary of state mike pompeo. Over to stuart varney. Stuart good morning, mr. Secretary. Good morning, maria. Good morning, everyone. The debate. All right. My opinion. No clearcut winner, but senator warren emerged as the clearcut leader. She was attacked from all sides. They went after her because shes out front. Joe biden asked about his sons Business Activities said only that neither he nor hunter had done anything wrong. Bernie sanders came on strong after his heart attack. Yes, he did. Mayor pete and Amy Klobuchar asked warren pointed questions on paying for medicare for all, but did not get a straight answer. Tulsi gabbard was the lone voice suggesting democrats be careful with their impeachment drive. All the rest said impeach him. And get this. In a cnn New York Times sponsored debate and with all the headlines about trade, not a single question about china. Never came up. Weve got a threehour show. Plenty of time for you to see it all. There is indeed lots of news about china today. Hong kong legislators interrupted chief executive carrie lam. To me thats a sign that the moderate middle class in hong kong still rejects control from beijing. The u. S. House of representatives passed a motion in support of the hong kong protesters. China now threatens retaliation. Weve got one more for you. Barstool sports putting out a teeshirt mocking lebron james for defending his financial interests in china. How about that. Lets get to the market. Big gain yesterday because of solid corporate profits. More solid profits reported from bank of america and united airlines. However, retail sales actually dropped in september and thats put something of a damper on the markets this morning. The dow is going to be down about 40, s p down about 6, nasdaq down about 23. All right, everyone. Great to be back. We have a jampacked show for you. Varney company is about to begin. This is why people here in the midwest are so frustrated with washington in general, and capitol hill in particular. Your signature, senator, is to have a plan for everything, except this. At least bernies being honest here in saying how hes going to pay for this and that taxes are going to go up. And im sorry, elizabeth, but you have not said that. Senator warren, i have been talking to americans around the country about automation. Theyre smart. They see whats happening around them. Their main Street Stores are closing. Its ignoring the reality americans see around us every single day. I dont want to just push donald trump off twitter. I want to push him out of the white house. Thats our job. Join me in saying his twitter account should be shut down. Lets figure out no . Stuart that was the democrats, i guess you could say they were piling on to Elizabeth Warren at the debate last night. It was in ohio. Joining us from a diner in columbus, ohio, pete hegseth, cohost of fox friends weekend. Pete, look, theres no clear winner. I think warren emerged as the clearcut frontrunner. What say you . I agree with you. People can talk about being a frontrunner but what we saw was the reality of a frontrunner. Everyone turning their questions and challenges to Elizabeth Warren, who has ascended because shes been blunt and clear about policies, but when asked about whether she would raise taxes on the middle class, she refused to answer time and time again, even called out by fellow democrats about hey, you say you have this plan, you have a plan for everything, but not this. I will say one thing. As a viewer, if you watched people tuned in at the beginning to see what they are going to get. If you watched the first half hour, you almost heard of nothing other than impeachment and joe biden being asked about hunter biden. Then you went into 30 minutes about medicare for all where candidates were openly saying im going to take away your private health insurance. If im a democrat today, i dont feel like i had my best foot forward to the largest audience at the beginning. Stuart the moderates were nowhere to be found, really, last night. I want to ask you about joe biden. He was indeed asked about hunter last night. I want to show the viewers how he answered. Roll tape, please. My son did nothing wrong. I did nothing wrong. I carried out the policy of the United States government in rooting out corruption in ukraine. What we have to do now is focus on donald trump. He doesnt want me to be the candidate. Hes going after me because he knows if i get the nomination, i will beat him like a drum. Stuart beat him like a drum. I dont think joe biden was very forceful last night. No. He was not. You hear that even from democrats we talked to this morning who are much more enthusiastic about Elizabeth Warren. Its hard to find someone who is gungho for joe biden. All night long he was making missteps, talking about, you know, things that didnt make sense, then ultimately when asked about hunter biden the answer of he speaks for himself, first of all, what are you going to say. Its his son. He will defend him either way. Hes in a bad position. But hunter biden openly said yeah, i wouldnt have gotten this job if my last name wasnt biden. Yeah, it is a swampy kind of thing. So hunter biden didnt do his dad any favors and joe biden was not forceful. Bad night for him. I just dont see how he regains his footing if the debate performances are going to go on like this. Stuart i agree entirely. Warren is the frontrunner. Thats the way it is right now, in my opinion. Thanks for joining us. Come on back where you belong in new york. Appreciate it. I will have some more food first. Stuart this amounts to a dramatic forecast from moodys, the big wall street firm. They say mr. Trump will easily win reelection next year. They base this forecast on the economy. I should point out they have been right on every president ial election except one since 1980. John lonski is with us. Not only that, john lonski is a moodys guy. He joins us now. Thats quite a forecast. Its based entirely on the state of the economy as we head towards 2020, thats it, trump wins . How well consumers are doing, thats very important. Remember, the forecast for the u. S. Economy is not especially strong. We see perhaps Economic Growth coming in 2 , 2. 25 in 2020. Thats not very strong. The important thing is we avoid an increase by the Unemployment Rate so the idea here would be the Unemployment Rate stays close to its current 3. 5 . Stuart it didnt get much publicity but numbers from the Census Department show that the Median Household Income has gone to well over 65,000 a year. Thats up 5,000 in the trump presidency. In the 16 years of bush and obama it went up only 1500. That was 16 years. Trumps policy changes have been very beneficial to the middle class and lower middle class. You have the lowest hispanic Unemployment Rate on record, one of the lowest africanamerican Unemployment Rates ever. So this is, you know, benefiting the middle income and lower americans to such an extent it can only improve trumps prospects in 2020. Now, it could be that the fact some of these lower income people who otherwise might vote democratic are doing so well, doing better economically, what may well happen is not so much they go out and vote for trump, but they fail to vote for the democratic candidate. Stuart thats it. They stay home because they dont want to work against their own prosperity. Stay home and watch your show. Stuart yeah, youre right. I hope they do. John lonski, thank you. Appreciate it. Now got to talk about opioids. The big drug distributors are in talks for multibillion Dollar Settlement with state and local governments. By the way, those connected stocks, mckesson and the other two there, all up significantly this morning. Ash, which companies are we talking about . How much money . Ashley a lot of money. We will get to the companies. Mckesson and cardinal health, amerisourcebergen, they are the companies. Its a big number, 18 billion over 18 years. This would be, by the way, the first broadbased settlement in this case. There are still thousands of lawsuits out of there. Whats interesting about this, it still needs to get the okay of the plaintiffs lawyers. Johnson johnson may also kick in some money on this deal as well. As we go forward, the sense is to try and find Common Ground where they can all agree on one solution. This is the first big one, up and down the pharmaceutical supply chain, everyone is being held accountable from drug makers to drug distributors. To the pharmacies themselves. This is the first time we have seen Something Like this. Its not a done deal, but its big money, 18 billion over 18 years. Stuart as soon as you get that dollar number, you can focus on it, figure out how to pay for it and the stocks go up. Ashley thats what happened. Stuart check futures. We slipped to a minus 50 points. Disappointing numbers on retail sales came out at 8 30 this morning. A little slippage in the market there. Apple, whoa, going full hollywood with a red carpet premiere for a new original show on its streaming service. Just as netflix is about to announce its earnings later on today. A question, who is actually winning the streaming battle. We have another forecast of a bonanza Holiday Shopping forecast for you. You want to hear that. Weve got it. Energy secretary rick perry is here. Big announcement on america exporting natural gas. He will tell us how we are the leading producer of oil and natural gas, on this planet. Varney company, what a day, just getting started. Youre still out there chasing what matters. Thats why at aetna, were committed to taking care of the whole you. With Medicare Advantage plans that offer Health Coaching and fitness memberships. Plus hospital, medical and Prescription Drug coverage in one simple plan. With monthly plan premiums starting at 0. Aetna Medicare Advantage plans call today to learn more and well send you a 10 visa reward card with no obligation to enroll. Or visit us online at aetnamedicare. Com tv stuart yes, we have a beyond meat story of the day. Hardees restaurants will begin testing beyond meat at breakfast, lunch and dinner. They have a new beyond Breakfast Sausage biscuit and original beyond thick burger. Now you know. Beyond meats at 123 per share. The Energy Department making a big announcement, authorizing liquid natural gas exports from louisiana. Energy secretary rick perry joins us now. Mr. Secretary, welcome to the show. Great to have you with us again. Good to be with you. Thank you. Stuart this is just the start, isnt it, of exporting natural gas . What a story. 15 years ago, they told us we were at peak oil, had found it all but they forgot to tell a few folks down in texas like George Mitchell that hydraulic fracturing, Directional Drilling that became the innovation and technology that has changed the world. Today, the United States is right on the verge of being a net energy exporter. We are one of the three largest lng exporters in the world. Just a fascinating story, but a lot of peoples lives are getting better, the climate is being addressed in a very positive way by this, and just a great story about american innovation, american technology. Stuart mr. Secretary, is it true in the introduction or in one of the in the previous block, i said america is now the largest producer of oil and natural gas. Is that accurate . Yes, sir. And the point right at it is if were not there this month, we will be in the next few months. It is a fascinating story, when you think about it, that in the next 18 months, you are going to see a doubling of the lng that the United States is bringing to the market. I mean, just fascinating stories today. We are going to be announcing this three bcf plant down in just south of new orleans at plaquemin plaquemines, louisiana. Right now, we are bringing about seven bcf to the market billion cubic feet per day to the market, when this plant is open, its going to be an additional three. Stuart sorry to interrupt you but there are some people who say look, we are producing all this oil and gas, lets keep it in america, drive prices down and all our consumers benefit. Why export it. Whats your answer to that . We are using all that we can produce here in the United States as it is. We are driving down the cost of electricity in most places in america. There are some places like new york that forbid Natural Gas Pipelines from being sent across their state. If you look at a map, stuart, on kilowatt hour cost, one of those bright red places which means the highest kilowatt hour cost is in new york. You look at my home state of texas, its at least half of that or less. So as people make the decision about where are you going to go build your manufacturing, which with power being a major cost driver, lets say data centers, for instance, theyre not going to go to new york. New yorks not even going to be in the conversation because albany and the governor have decided were just not going to put Natural Gas Pipelines across our state. I think a really bad economic decision frankly, a bad environmental decision because there are points in time where new yorkers are having to look for different forms of energy and they are going to old, inefficient fuel oil to drive that which is really bad, its really costly and really bad for the environment. Stuart mr. Secretary, i work in new york. Tell me about it. One quick political question. Will you comply with the subpoenas from House Democrats to supply documents by friday . Listen, the house has sent a subpoena over for the records that we have, and our general counsel and the white House Counsel are going through the process right now, and you know, im going to follow the lead of my counsel on that. Stuart okay. We will wait for that. Mr. Secretary, thanks for joining us. Good to be with you. Thank you. Stuart thank you very much. Thank you. Look at futures. Still down about 50 for the dow, 20 odd for the nasdaq. Some disappointing retail sales figures put a damper on the market. Well be right back. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. Were engineers. Cloud architects. Developers. woman data scientists. We Keep Companies ready for whats next. We do things like protect their data. woman with security built right into their business. 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Stuart on your screens, netflix stock, 284 a share, down 17 since last october, and wait for it, our guest thinks that the price is going to go down some more. He thinks its going down to 265. Ouch. Bernie mcturnin is with us. Thanks for having me. Stuart youre welcome, fellow. Make your case. Its already down 17 . Growth concerns. This is a company that doesnt generate any free cash flow, so its all Revenue Growth that matters. We think growth expectations are coming in so right now, we are going off of high 20 Revenue Growth. We think two years from now it will be high 20s and thats going to cause the revenue multiple to come in. We have a four and a half times multiple a year from now. Stuart hold on. All the money they bring in at the moment goes into new product. I mean, new content. All of it. 15 billion on cash content costs. Stuart for cash flow, i mean, cash they can actually use, over and above what they are using for content, thats got to be new subscribers. Its really debt thats funding the company right now. We think we are three years away from them Generating Positive free cash flow. Stuart that doesnt mean to say they are losers in the streaming war. It just means theyve got a difficult financial position going into it. Isnt that it . A hundred percent. It could be a Great Company but a tough stock. Thats what we think. They are at 150 million subscribers globally. We think it will be over 200 million but whats priced in is much faster growth than that. So thats why as we think growth decelerates and the revenue multiple come in and because they dont generate free cash flow, then really that revenue multiple is all investors have to hold on to. So we think the multiples already come down a lot but if growth concerns come even more we are looking at high teens it will be unlikely to hold a four times multiple. Stuart i like to buy stocks when they take a big long dip. Netflix has taken a big long dip. Do you think i ought to buy it if it goes to 265 . Im a longterm investor guy. So we think it will be properly valued over the long time. And dont see upside to shares there. We think it has to go lower for it to be a buying opportunity if it went below 265. Stuart dash my hopes there. Thanks very much for joining us. Appreciate it. We will follow this stock like everybody else. Thank you. By the way, 4 00 this afternoon, after the Bell Melissa Francis and Connell Mcshane will bring you netflix earnings as soon as they come in, real fast. Quickly, we have slipped a bit more. Now we are going to be down about 70 odd points for the dow industrials and 30 for the nasdaq. Again, weak retail sales figures did not help. Back in a moment. Problems. Nobody likes problems. But why is that . At ibm, problems actually inspire us, to fix things, to change things, to push the world forward. Which is why so many people who dare to take on problems work with ibm. 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According to the wall street journal they may have 13 months to get more money. Talking about 3 billion in cash. They are in dire straits right now, burning about 1. 6 billion in losses, about 700 million in actual cash every quarter and you know, they shelved that ipo. That was a disaster. Right now, wework bonds, if you are brave enough, yielding 13 . Stuart im not that brave. Susan youre not that brave. But do you take something from softbank which means you would have to yield control, or do you take the jpm debt fundraising for 5 billion. You have to find some sort of catch net. Stuart the opening bell, they are clapping and cheering. We are about to start trading this wednesday morning. We are expecting a minor loss for the dow industrials, the s p and the nasdaq. Here we go. Three seconds to go. Were off and running. Wednesday, boom. Off we are running now. Look at it. Where do we open . Down 40 on the dow, down 39, down 37. Thats not exactly catastrophic loss after a major league rally yesterday. Now, im also going to show you bank of america. They reported higher profits and revenue. That stock is up 2 . Nice gain for b of a. Better profit at bank of new york. That was because of lower costs. Nice gain for that. Up 1. 50 . Bank of new york. United airlines came out with a rosy forecast, raised their guidance for the year. Strong travel demand, they say, lower than expected fuel prices. That stock is up 2 . Nice gain. Okay. Were off, were running. Down 40 on the dow. Joining us this morning, david dietze, susan li, ashley webster. Let me start with you, david, on this retail sales number. Down. 3 in september. Is that why the dow is down this morning . I would say no. I think theres some precedent to where we are stuart no . We have not seen Much Movement in the dow since those numbers were announced and i think the reason is if you take out autos, if you take out gasoline, we are just about flat and remember, august was raised up from 0. 4 to 0. 6 . I think in the big picture, things dont look so bad. The other thing is, i do think this seals the deal for a rate cut on october 30th by the fed and the markets going to take some heart from that. Stuart that should be more positive. Susan i think its a reality that the u. S. Economy is slowing, the consumer is slowing. Even personal Consumption Expenditure index which is basically what the Federal Reserve looks at to gauge whether or not they should be cutting Interest Rates, is slowing. But there have been positives from corporate. Yesterday we heard from jpmorgan, jamie dimon saying the strength in the consumer is actually offsetting slowdowns in the Business Community and same thing from other big multinationals that the u. S. Consumer remains healthy at least. Stuart did i just see jc penney still in business . I have been reporting on that for many years. Yes, you have. Stuart 1 a share. Lets move to earnings. Its early, okay, early in the earnings season but this is the time when they are all coming out with their profit reports. They were supposed to be profits were supposed to be down, what, 2 . But theyre not. They are better than that. Absolutely. So what i have taken heart from is that although we just scratched the surface we have seen some of the biggest banking players show very good results. The consumer portion of the banks are doing well. Wealth is doing well. Also, the other key takeaway, dont underestimate the flexibility of american businesses to deal with any headwinds. Although their net interest margins have been under pressure because of low Interest Rates, they have been doing some strategic cost cutting, nipping and tucking, plus using technologies strategically. Thats why their earnings have been well and i think that bodes well going forward. Stuart you are perfectly happy with this market at these price levels . Youre not selling lock, stock and barrel, are you . Youre not. Absolutely not. Look at the alternative. You have the Interest Rates are well below susan its only day two of corporate earnings. We have a long way to go. Stuart very, very true. But initial indication is not so bad. Susan plus you love that expectations game. Stuart stop it right now. Okay. Let me get to opioids. The distributors thereof are in talks, this is an 18 billion settlement with state and local governments. 18 billion. They are going to shell out over how long . 18 years. Stuart oh, no wonder the stocks up. Ashley over 18 years. The three big drug distributors, all of them on the screen, in the green because now we have a number. Now the investors can say we can get our arms around this, this is what its going to cost, but this deal has not been approved yet, but thats the first broadbased settlement in this case so far. Wall street loves certainty. We are getting that, too. From a cynical point of view i think this is actually pretty good. Its 18 billion over 18 years, which suggests the attorney generals have taken a large headline number for public consumption but to make it palatable for the companies, its over a long period of time. Sounds a lot better than 1 billion per year for the next 18 years. Right . Susan dont forget, purdue had to pay 7 billion to 9 billion in their Opioid Settlement so 18 billion is actually relatively small compared to what people had expected. Stuart this is all about who is going to pay for the opioid crisis. The drug companies, the distributors, the pharmacies. All of them. Susan Johnson Johnson yesterday rallied because the expectation was they may have to pay 50 billion in litigation fees when it comes to talcum, opioid and even risperdal, but according to bernstein, maybe the total will come to 12 billion, hence the stock rallied. Stuart thats right. Dow industrials are down 40 points in the first few minutes of trading. There you have it. General motors, barrons citing key bank and reporting there is a preliminary deal to end the uaw strike. Grady trimble is looking into this for us. We will bring you more as we get it. General motors stock has recovered. Its now at 36 a share. The low was 33 in the fourth week of the strike. All right. Better profit at pnc bank. The loan growth very strong. The stock is up a buck at 141. Better profit at u. S. Bank corp. Nice gain. When i went away last week, bitcoin was 8300. Now its 7,900. The price of gold was around 1500 an ounce. Its now 1491. The price of oil was last friday 53. Now its 52. And the yield on the tenyear treasury, heres where the difference is, when i went away last friday, it was 1. 65 . Now its 1. 74 . Ashley any correlation . Stuart my leaving . No correlation whatsoever. But i do notice the difference. Hold on. Here we go. Breaking news on brexit. The European Council president , donald tusk, he says we will know in about seven or eight hours when brexit will happen. Ashley because they have to have something by the end of today because theres a summit in brussels tomorrow. If they do get a deal, Parliament May have to come into the uk on saturday which they very rarely do, because god forbid they work an extra day, and approve it. I think theres still a long way to go. No big surprise, of course. Stuart but its progress. Ashley its something. Stuart it could be boris is actually doing something here. Ashley lets not get carried away. Stuart okay. All right. I want that special relationship back. Thats what i would like to see. More backlash for the video game maker, blizzard. Susan activision blizzard. Stuart thank you. Whats going on . Susan so they had to cancel an event here in new york city. There was supposed to be an event to launch overwatch, the next season of overwatch in new york city on october 16th. It had to cancel because of the backlash that stems from their suspension of the gamer over in asia because of his pronounced prohong kong stance. While you were away, there was a big nba controversy with lebron james. I havent heard you i guess opine on yet. Stuart i will. Susan all right. Well get there. Stuart heres my thing. American athletes seem very willing to trash President Trump and not go to the white house and call our president names but when it comes to a communist dictatorship in china, they are most unwilling to say anything thats slightly unkind because it will hurt their pocketbook. Thats pathetic. But i better move on. We talk a lot on this program about big name ipos this year. Not all of them have been doing that well. Kristina partsinevelos is here with a rundown. Kristina its not shaping up to be the best year ever. Ip not goi im not going to focus on all of them. We will start with some of the bad. Uber being one of them. I shouldnt say bad. Its just out of the gate it hasnt been doing well. The ipo price was 45. Did fall, look at that, 23 . That is from the drop from that first day it went public which actually it did decline. Theyre just blowing through money. They are going through it quickly. The second is peloton. I know you use that. Cycling with the little ipad almost in there, you can get a free class. Not a free class. You have to pay quite a bit for it. That ipo was 29. Also declining 9 from that first day price. Then smile direct, no, you dont like that . Stuart the ipo is a catastrophe. Kristina horrible. The ipo price is 23. Down 39 . Focus on some of the winners, the good players. You have zoom, lot of people like it because its a subscription model, continuous source of revenue. Ipo came in at 36. Look how much its increased, about 11 . Then pinterest, 19 ipo an want to end on beyond meat. We are getting good news for them. Their company just signed with hardees. Hardees has announced they will put Breakfast Sausage beyond meat on their menu as well. If you are wondering why do we see this massive shift, one of the major reasons is the sense that you cant just invest in companies that are never going to make a profit. Theres no path to sustainability. So thats part of it. Then you have to keep in mind the lockup period so thats when early investors get out, for a lot of them are starting to sell off. You are seeing pinterest possibly get hit, chewy will be one, uber will be one. Stuart over 100 ipos. I didnt know that. Kristina tiny ones you never even heard of. Stuart 20 seconds left. I ask this question. Whats your favorite casino in las vegas . Ashley i go classic caesars. Mandalay. Whats the hotel . Stuart my favorite is bellagio. Its now valued, bellagio, at 4. 2 billion under a complex leasing deal with blackstone. Susan they are selling it off, arent they . Stuart no idea. But its valued at 4. 2 billion. Its my favorite. And i dont gamble. What a pathetic guy i am. Thank you. Its 9 40. Thank you very much indeed. Quick check of the big board. Look, we are ten minutes into the session and down 17 points. Go nowhere start to the market this wednesday morning. All right. Got a stat for you. The medium Household Income, up 5,000 since President Trump took office. One more sign that the Great American middle class is really coming back strong. More on that in my take at the top of the 11 00 hour. More evidence that the consumer is doing well. Retail sales expected to be up, what, 4 this season. Holiday season. Next, we have a retail watcher who is expecting really big numbers all the way from black friday to new years eve. He will make his case. And the youngest living recipient of the congressional medal of honor joins us in our studio this morning. He jumped on a grenade while serving in afghanistan. Expecting to make the ultimate sacrifice. He will share his remarkable story on this program today. Well be right back. Limu emu doug hour 36 in the stakeout. As soon as the homeowners arrive, well inform them that Liberty Mutual customizes home insurance, so theyll only pay for what they need. Your turn to keep watch, limu. Wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Stuart very small loss for the dow industrials in the first, in the very early going this morning. We are down 18 right now. That puts us at 27,007. Johnson johnson, wells fargo maintains its outperform rating on the stock and its doing well, up 2. 25 . Then we have chipotle. They are covering the education costs for some degrees for their employees. Lauren simonetti, tell me what are they doing . Is this to retain workers . Lauren absolutely. Because last year, a Record Number of fast food workers quit the industry so how do you retain them in a solid job market . You do what people cant afford. You pay college tuition. They are paying for 75 different types of business or Technology Degrees through five different universities. The thing is, if you stay with the company, dont quit, they dont have to spend money to retrain other workers. Then they can promote you. Free college. Stuart capitalism really works in this way. Lauren capitalism and Corporate America is solving the problem of tuition being too expensive right now. But this issue of the tight labor market which is actually a good thing because theres more perks, we are seeing it across the sector. Mcdonalds teamed up with aarp to get Older Workers in. They are really doing what they can to retain workers. Honestly, they are paying more. Average wages are just under 15 across the sector these days. Stuart capitalism works. A tight labor market is really good for workers. Lauren would you work at chi pot chipotle if they said you would get a business degree when you were done . You would have a job and would probably be a manager of some sort. Stuart thats an offer and a half. Why is susan li doing this . Its a deal. Susan it is, but its also higher costs as well for these restaurants in a low margin business. I think thats pretty difficult to pay for. Stuart kudos to the restaurant chain then. Ashley you have to keep good employees. Stuart dont turn your nose up at a terrific deal. Use it to bash bernie. Come on. All right, all right. 70 or roughly 70 shopping days until christmas. Our next guest says whoa, happy times will be here again for the retailers. The author of the new retail joins us. Okay, michael, we have the nra, National Retail federation, they say we are going to get roughly a 4 sales jump in the holiday period at the retail level. Thats good, isnt it . I think thats actually a little low. I think we will see maybe 5 or 5. 5 this year. Stuart compared to previous years, thats huge, isnt it . Huge jump. One of the pillars of our great economy right now is consumer spending. Consumers feel confident and its where theyre spending thats most interesting. Stuart tell me. Well, they are spending at tj maxx, marshalls, some of the lower offbrand, offprice stores. You and i have talked a lot about its the middle thats really getting squeezed but on the luxury side in the offprice, so the consumers are loving tj maxx and marshalls. Another big winner, target. Stuart thats always been your favorite. Always been my favorite. Stuart you have been on heaven knows how many times, you are always saying targets the one. Since the last time i was on, they did two new amazing things. They are rolling out Disney Stores and also relaunched the toys r us name. Toys r us. Com is up and running but its redirected to targets toy section. Talk about owning the toy season this year. Look at target between disney and toys r us coming back. Love it. Stuart i see it, i have a chart on the screen right now. The stock has gone from, what, low hundreds, like 105 to 111 right now. Thats not much of a gain for saying how well its doing. Its incremental. I think we look at where targets been over the last couple years, you know, again, im high on walmart, target, some of the mass market retailers. Stuart im sorry, over the past year they have gone from 81 to 111, 112. Okay. Stuart you think its going up from here . Yeah. I think the other good thing thats happened is, you know, we have reached what seems like a pretty good trade deal with china so that has given corporations and retailers and brands a little more confidence going into the season. Consumers feel better so you take all this positivity, its going to be a Great Holiday season. Stuart target man, if i can put it that way. You are a target man. Thank you, michael. See you soon. Thank you. Check the dow 30. Lets get a sense of how those 30 stocks are doing. Very even split between winners and losers. Its about 15 apiece. Very roughly, that is. Okay. Dows down 11, 10. Got it. Apple, whoa, taking hollywood by storm. Holding its first red carpet premiere for a show on its new streaming service. We will tell you all about it. Apple, red carpet, hollywood. How about that. Well be right back. Stuart this has been a week where theres been a lot of news about streaming. Amc, movie people, right, announced a new streaming service. Disney has released all the titles that will be available on their disney plus streaming service. Now we have Apple Holding a hollywood premier, red carpet premiere for one of its streaming shows. Kurt knudsen was actually there on the red carpet. Hey, is apple taking over hollywood now . Boy, you know, i had to get my head wrapped around this, stuart, because for as long as i can remember, i have been covering apple and technology and in the context of hey, weve got the next widget coming out here, right, and then to see how they made this splash last night, that red carpet youre looking at right there on the left side of your screen was the best done hollywood premiere i have ever seen. I have been to a couple dozen hollywood premieres over my years out here on the left coast but i will tell you they nailed it. They nailed it from the programming standpoint, they nailed it from the execution, from beginning to end. The question really remains in this crowded market space, have they nailed it for the long term. Stuart okay. Now let me ask you this. 27 of consumers already pay more than 100 a month for various streaming services. Thats their bill. Over 100 a month, a quarter of all consumers who have got a streaming service pay more than a hundred bucks a month. That seems to me that streaming is going to be wildly successful, no matter what the cost. You know, you look at those figures and thats from an amdoc survey and also on that was that 59 of those people were very happy spending the money. 22 said they would be glad to spend more money if you gave them something new, so weve got something new for them now. The question then comes well, whats stopping you from moving to other services. It really comes back down in that survey to the users. It comes down to the ease of use and remembering passwords. Really its that basic thing is what prevents consumers from adhering to Newer Services on it. Apple, i think, and the consumers have echoed back saying if it was just one way we could have one screen and get to all these streaming services, that would be a great benefit to us. I think apple tv has done that with the app that they created. We have news out yesterday from roku thats going to be adding the apple tv app to the roku system which roku should, because they have really got none of their own content. So i think apples in a really strong position here to compete, especially with all of the apple device screens that they have on the marketplace. Stuart does that mean i dont have to worry about all these passwords . You know, apple has done for reauthentication, when you put it in once and then wait a minute, why am i having to put it in a second time, thats where consumers get frustrated, apple worked hard on that so it reauthenticates based on your original signin. That stuff is getting easier. Its a balancing act with trying to get security going in your favor. Stuart you put my mind at rest. I will get it. Thanks very much, sir. See you again soon. Got you. All right. 26 minutes in, and we are down 40 points on the dow industrials. 26,981. How about this one. Former seahawks linebacker used to hit quarterbacks, i mean hit them. Now hes tackling his own pain by launching a cbd company. That could be a problem for the nfl. They dont want anything to do with thc, cbd or anything connected to cannabis. Weve got him on the show. Who won the debate last night . No clearcut winner in my opinion but it is clear that Elizabeth Warren is the frontrunner. Throughout the pack, actually. But i might also reverse that and ask the question who won the debate last night, President Trump. Wait for it. Ive got an editorial coming up on that one next. When i called usaa, it was that voice asking me, is your daughter ok . Thats where i felt relief. Were the rivera family and we plan to be with usaa for life. See how much you can save with usaa insurance. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. Stuart who won last nights debate . None of the 12 candidates on the stage knocked all the others out of the race, thats for sure. There was no killer line, no dramatic new issue. In short, no clear out and out winner but senator Elizabeth Warren emerged as the clear leader of the pack. She has momentum, money, a plan for everything and she gave a spirited defense of her policies during the debate. Okay, she is not saying how she will pay for the trillions of new spending that democrat primary voters are not particularly interested in that, are they . Senator warren very likely to be the democrats nominee, unless somebody new enters the race. This is not totally out of the question. Senator warren is way out there on the left, therefore makes more moderate democrats rather nervous. How can a Green New Deal socialist win an energy or manufacturing state . The moderates know this, but they have no strong voice. That is why they are so many quiet conversations about outsiders getting in. Was it pure accident that Michelle Obama came out on top of a New Hampshire poll . How about those billionaires, mike bloomberg, howard schultz, who may want to reconsider a run if senator warren tops the ticket. Moderates already in the race, mayor pete, Amy Klobuchar, they have only very modest support at this point. Joe biden, he remains bogged down with his age, stamina and ukraine. After last nights debate it looks increasingly like a warren candidacy. So who won . My opinion . President trump. The second hour of Varney Company is about to begin. At least bernie is being honest here how he is going to pay for this, that taxes are going to go up. Im sorry, elizabeth, you have not said that. Senator warren ive been talking to americans around the country about automation. They are smart. See what is happening around them. Main Street Stores are closing this is reality americans see around them every single day. Stuart brief excerpts. A lot of people went after Elizabeth Warren. Charlie kirk is with us, turning point usa founder. The man with the great smile. My Prime Minister mess is that Elizabeth Warren is now clearly the frontrunner. My second premise is, that the moderates are left out in the cold completely. Third premise, President Trump won the debate last night. What say you . I agree with all three. What i found so interesting about last night, there was so much discussion about future economic displacement. Kind of struck me. That is you who know the economy is doing so well today, they have to fearmonger about potential economic anxiety five or 10 years down the road, how machines might potentially take our jobs. Those are important discussions to have, typically when there is real economic anxiety, when the middle class is getting squeezed the economy is not growing that is what theyre focusing on. 30 minutes of the debate in the first hour was spent on that. I totally agree with you. Elizabeth warren has steadily built the most durable campaign amongst all the democrats. She is raising a lot of money, has a ton of grassroots support. Candidate are starting to realize this. She is up in iowa, up in New Hampshire. Joe biden, stu, he is not looking like a frontrunner this any capacity. He is not garnering crowds. He is not getting sizzling oneliners. He has cash on hand respect the other candidates. Stuart follow this through, if i am right, if we are right, Elizabeth Warren is going to be the nominee, she is going to be running against the pros party created by President Trump because we are now a prosperous nation. I find it inconceivable that a Green New Deal socialist will attack enough voters to overturn prosperity and tape a leak in the dock for socialism. Thats why i think President Trump was the quiet winner, he is never quiet, the winner of last nights debate. That is where im coming from . Stu, i totally agree. This will be one of the first times in western civilization history when a country is experiencing prosperity and voluntarily try to bring socialism and the lack of growth to the very country. Usually socialism Gains Traction in times of economic malaise or economic depression. Rarely if ever, the message of socialism palatable during times of prosperity. That is when people want to continue that to happen. The reason, stu, is that there is a group of people in this country, mostly on the coasts that are not gotten overthe fact that donald trump won this election in 2016. Theyre way more focused on his alleged style and not on the substance what he has been able to deliver for america. I think if senator Elizabeth Warren is the nominee, President Trump continues on his prosperity agenda and amazing capacity to dominate the news cycle, i find it very hard to believe that someone would elect senator Elizabeth Warren as president. Stuart i will leave it at that charlie kirk, see you real soon. Thank you, stu. Stuart by the way, antisocialism banner flew over last nights debate. Cant quite read it. Isnt that great . The green banner, says socialism destroys ohio jobs, vote trump. There you to. Stuart paid for by . Ashley guess what, the trump reelection campaign. It is effective. Not the first time. They did this in last months debate. Susan brought up the loss of manufacturing jobs in the state of ohio, whether or not President Trump or even democratic candidate can bring them back. Lets be honest. Stuart interesting point. I dont see how President Trump will not win ohio in 2020. I mean, i just dont see it. He has done Everything Possible to help manufacturing, farms. Susan 210,000 manufacturing jobs created last year. Most in 20 years. He is doing his part. Stuart hard to see how he loses. Look, i dont want to do a paul krugman, the market will crash when trump is elected. Of course it didnt. It went the other way. The dow down 79 points for the dow industrials. Down 44 on nasdaq. 10 on s p. Im not aware of anything happening over the last if you minutes that pulled us down but we are down on the day thus far. Shah ghailani joins us now. I thought we would hit all brand new highs very quickly. What happened . Oh, were very close, stuart, in terms of the Dow Jones Industrial average based on yesterdays close. 1. 3 from that. In terms of the s p, were 1 . That is a good couple days or frankly could be a good couple hours. We can get there. Nasdaq has a little further to go, 2. 3 Percentage Points from its alltime highs. 2. 3 , so yeah, easy marker to make. I think well get there. The momentum, as has, as you have been saying is up. The market looks like it wants to go up. It seems like it wants to go up. It has been going up. There is nothing stopping it right now. If we get good earnings. Some other news in the background. Front burner news is earnings. Reports are overwhelmingly good. 3 4 are better than expected. The market is enjoying that. This is a dip here. The market has come to far too fast. It is looking pretty strong. Stuart does it all depend on the Earnings Reports . We started Earnings Report season. Does future of market next couple weeks, it depends on profits, is that it . Im almost positive, in absence of anything coming out from china, u. S. Trade war talks. In as sense of anything geopolitical being horrendous and put aghdam per on economics, anywhere in the especially in the United States. Market has nowhere to go but up. Earnings will drive it up. Next few weeks is earnings. Stuart are you buying today . I want to see the market breakout. Weve been cautious. Weve been in a sideways market since really february. I havent seen the market break out. Im expecting it to break out. If it breaks out i have a long buy list that things are still looking pretty cheap and would add on to core positions including microsoft. I like amazon. We own it. Also buying opportunity down here. There is a lot of stocks i like down here. I want to see the market break out. Stuart you dont have to pump up microsoft to get back on the show. Just because i own a thin shriller of this thing. It is way down. It dropped below 140 a share. Do something about it, shah. Shah ghailani. I am happy to put my buy orders in. Stuart youre a good man. Shah ghailani. General motors, the strike is in its fifth week. Grady trimble, breakings news. What have you got for me . Reporter were hearing a deal could be announced as early as today. I want to say could. The talks are still going on at the Renaissance Center in downtown detroit. That is General Motors headquarters. That is where talks are going on the last four 1 2 years. Signs are pointing towards a deal all week long. The union called for local leaders to come here. Presumably what they would do is vote on a tentative agreement. Yesterday the ceo of General Motors mary barra, she met with the top negotiate negotiators were told. It could be announced as soon as today. Well keep you posted once is officially is announced. Stuart General Motors recovering to 36. 63. At the top of the hour we were running through an editorial about the debate but concentrated on the market. We got Homebuilder Confidence numbers i dont follow that closely. Its a big number . Susan a big number, hit a 20month high. Highest read since 2018. So the index rose three points. One in the month of october. Housing accounts for 1 5 of the u. S. Economy and the strengths are in the western part of the country and southern parts of the country. This goes against, remember what we saw with retail sales in september . But if you have lower Interest Rates, buying mortgages, actually issuing mortgages and buying homes. That is pretty good. Stuart we would like to see a turnaround. Stuart that could lead the overall economy. That is early good sign there. Happening this hour, by the way. President trump will welcome the italian president to the white house. If our president speaks, when this happens, you will see it, you will hear it right here as we always say. Were following all the news out of china and hong kong. First off hong kongs chief executive, carrie lam, shouted down by protesters as she tried to deliver a speech in the hong kong legislature. Interesting move there. Chinas xi xinping is threatening quote, strong Counter Measures if the u. S. Passes legislation supporting hong kong as an independent territory. The house did pass that legislation yesterday. So were wondering what is xi xinping going to do . We have another nfl player on the show talking about cbd to treat sports injuries. Got to ask, what does the nfl make of all this, all former players endorsing cbd which they will have no part at all . More varney after this. Im working to make each day a little sweeter. Adp simplifies hr, benefits, and payroll for magnolia bakery, so employees like sarah can achieve what theyre working for. When youre looking for answers, its good to have help. Because the right information, at the right time, may make all the difference. At humana, we know thats especially true when youre looking for a Medicare Supplement insurance plan. Thats why were offering seven things every Medicare Supplement should have. Its yours free just for calling the number on your screen. 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You can chose from a wide range of standardized plans. Each one is designed to work seamlessly with medicare and help save you money. So how do ya find the plan thats right for you . One that fits your needs and your budget . Call humana now at the number on your screen for this free guide. Its just one of the ways that humana is making healthcare simpler. And when you call, a knowledgeable licensed agentproducer can answer any questions you have, and help you chose the plan thats right for you. The call is free and theres no obligation. You know medicare wont cover all your medical costs, so call now and see why a Medicare Supplement plan from a company like humana, just might be the answer. Stuart check the yeah, i have a Football Player sitting right next it me. He was correcting me out. Check the big board, were down 70 points on dow industrials . Now this, very important stuff, wework, obviously they need a bailout. Susan, have they got one . Susan nikkei says softbank will put 5 billion in wework. Softbank has already invested 7 billion into the Office Leasing company. Wework is on its knees. It needs cash. Might run out of cash next month according to fox business reporting. Might run out in 13 months according to the wall street journal. It was either softbank or Debt Financing deal led by jpm. That was on the table for wework to choose from. If the report is accurate from the nikkei news in japan. They might choose softbank. This comes with ownership shifts. Softbank would not put more money unless they pot full control and taking away from adam newman. Stuart you want more money from me . You give me control of what i got. Very simple. The world of money is not that complicated. You want more . Okay. I got control. Lets get to football, shall we. Retired, i repeat, Football Player, lofu. He joins us now. Did it pronounce it correctly. Spot on. Stuart first off, youre retired player. Yes, sir. Stuart does it work. Just the mere fact im sitting here talking to you, yes. I think you could hear it in my enthusiasm. Stuart you are selling it. Thats where your wrong. Stuart youre a spokesperson for the company. True, im offering a lifestyle. That is really the means what were doing here. Helping changing lives, impacting lives. Ive been impacted. So moved that i created company. Stuart you created this company . Yes. Stuart built around you . I have a strong team, just like i did in my playing days. Stuart how long have you been retired . 2012. 7 years. Stuart when you left the nfl you were in serious pain . I would, that would be an understatement. Stuart how bad . 10 surgeries. Multiple concussions. The mind body connection was just not there anymore. And so that is what it has given me back. Stuart wait a second. Do you use, like a lotion or pills . No. We have, really, we have two different deliver theory methods. One product. Hub himnal goes under the tongue. 30 seconds. Swallow with a drink. The other is capsule. Same product, delivery methods. You get different effect in terms of timing. Stuart but it lessons pain . Absolutely. Im in the gym every day. I no longer take antiflorida tories antiinflorida tories. Multitude of benefit from it. Stuart you can use cbd but not be active player. I love the nfl. I wont tell them how to do business. They are revisiting the cba, collective Bargaining Agreement in 2020. Hopefully revisit the policy on it. Hopefully well see changes. Stuart if youre still playing, allowed to use cbd, you wereyou would be still be playing if allowed cbd. My career would be winding down. I still had prime years left in me. I hope to give back, showing players coming toward end of career. Several sports, not just nfl. Whether youre a crossfiter. We were meant to move. Why are we going to stop. Stuart that is what youre selling the active lifestyle. Absolutely. Stuart lofa, i wont even try. Tatupu. Stuart tatupu. So simple. I think cbd could help with that. Stuart 15love, son. It was a pleasure. Thanks for being with us. Honor to be here. Thank you very much. Stuart a pot producer, tangibly related story i guess, listen to this, has destroyed 58 million worth of their own product. I guess like cheech and chong, up in smoke. Ashley you took my line. Talk about up in smoke . This is why, canada as we know approved Recreational Use. Some of these companies, this one in particular, cann trust started growing more than they were licensed, thousands more in licensed green house, going hogwild with it. They recognized gone over their limit. The, operation was suspended back in september. Now theyre taking all of those plants, throwing it in a giant pit. Stuart up in smoke. Ashley dont be downwind. It was canopy growth. Massive amounts of 25,000 plants under one roof. Stuart you were there. Ashley i was there with my hand out. Stuart it was really good look. Ashley thanks,. Stuart hearing on e significance as a threat to public health. Juul slapped with a lawsuit from the mother of a teenager who died from a vapingrelated illness. Very important story on vaping. We have it next hour. Two millenials left their jobs to start a snack company. They deliver boxes of snacks from different countries. Guess what . That business is worth 21 million. These guys are on the show. Well be back. 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. 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. 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Stuart but youre on tv. Make deal with deliveryman, ups, drop it off over there so he cant see, Something Like that. 56 of people say they do this. Instant gratification. What impulse purchases have you made . Stuart i we all do it. Do it on vacation. When were feeling good. When were tired. Susan what expensive once like jewelry or it adds up over 2,000 a year. Susan hide that under the bed. Average person makes purchases they dont need totaling 2,000 a year actually. I think that is low. I think that is low. Stuart purchases they dont need. So they suppress them or hide them. Theyre embarrassed. Susan why not return them . This is good for the economy. Were spending money on stuff we dont need. Stuart this is consumption oriented society. Why were embarrassed about it i dont know. You can do everything on your phone as youre walking. Walk and make purchases, food shopping, christmas shopping. Stuart you can. It never works for me. Moments ago President Trump welcomed italys president to the white house. This is the tape of that happening. Moments ago. Is the president speaking . Okay. This is just tape of the arrival. Theyre meeting right now. Theyre talking about a trade deal between the United States and italy. By the way, the president also said that the phase one deal with china is being, what was it, justin . Tapered as in written. Okay. Papered, sorry. Literally writing the phase one of the trade deal with china. Ashley probably wont be signed until he meets xi. Stuart chile. The apec conference. Maybe that has helped the market a little bit. Now were down 20 points. We had been down, what, about 50 or 60 points just a few moments ago. What were looking at now is the limousine bearing italys president. He has just arrived. You see the president come out. I think it is raining down there, you see him come out from under the awning there, shake the hand of the president. They will continue in. This is few minutes ago. There is the handshake. There is the meeting. Italys president , largely ceremonial role. Different from the Prime Minister of italy. Stuart my pronounciation is not always great. Glad youre in there, ash. They are inside talking about their trade meeting. Well have tape from the meeting when the president did speak when it is available which should be fairly soon. I want to get to hong kong, chief executive, carrie lam, she was forced to suspend her speech in the legislature after being heckled. That is an Important Development here. Tell me more. Susan it is an Important Development. This is basically the state of the Union Address in hong kong. Twice she was shouted down. Then eventually being forced to deliver the speech via video. Its a tough time for hong kong. More handouts, given that the economy is in the first recession since 2018. So she talks about more, having subsidies. Lower barriers for first time mortgage owners. Also more subsidies for transport by ferry or subway. Meantime here in washington, d. C. On this side, we had the hong kong human rights and democracy acting passed. That is important. It was only passed by congress. Still needs to be ratified by the senate, then signed into law by President Trump but it was not just the human rights and democracy act. They also signed a law or passed a law prohibiting the sale of rubber bullets, sale of gas to huawei police. They were commending canada detaining huaweis ceo. Stuart that is like a red flag to a bull. Making comments to china. Susan signing these bills would seriously harm china, u. S. Relations, but extrapolate, how does it affect the u. S. China trade relationship . Can you get a phase one deal signed, papered and sealed. Stuart with hong kong in the background which is actually in the foreground. We have to say that. Susan correct. Chris shin Christian Whiton former administration official. This hong kong situation is nowhere near over. Middle class hong kong people showing distrust of beijing. It is part of the china u. S. Trade talks. I mean, this is not helping the talks, is it . Its not, no. Carrie lam in her speech failed to do the one thing she needed to do to possibly quell some of this unrest, which is to say she is willing to engage in dialogue about democracy in hong kong. That is the democracy residents of hong kong were promised under basic law created coming out of british governments. Complete unwillingness to talk about the one 800pound gorilla in the room. Yes, this will keep going on. President said, he thinks hong kong might be resolving itself. Not a lot of indications on the ground that might be happening. Stuart looks to me beijing has won, not won, the wrong way to put it, but they are actually suppressing whats going on in hong kong quite successfully without the use of tanks. I noticed by the way, protesters in hong kong were seen burning lebron james jersey after he made the comments about the china nba controversy. Any comment on that, christian . It is completely disgusting. It is not just the nba. Business after best set aside their values going to china, talking up the model there. What lebron did, this is someone who grandstands on twitter about equality an human rights and freedom and then basically throw hong kong under the bus for a few bucks more, talk about someone who can actually take a risk . On behalf of freedom and democracy, who could upset china and not have any impact on his lifestyle but, you know, the person who could do that, lebron, has really decided to tow to china. You see a negative reaction. I dont think beijing is winning in hong kong. I think they painted themselves into a corner. Especially with the new law, the senate has to act, take another month or so. At anytime the United States could take away hong kongs special trade status. That is preventing beijing from doing a full on Tianamen Square type reaction. Youre having a lingering dissent movement in china. Stuart Christian Whiton, thanks very much indeed. I will break in here. Update on lebron james and adam silver. Ashley a little more detail. When the lakers and nets were in shanghai for a exhibition game, that lebron james pressed nba commissioner adam silver, whether or not the league plan toddies minute Houston Rockets gm for his comments and his support for hong kong protesters. Lebron thinks it was ill informed, misinformed. Susan uneducated. Ashley he was then pushing silver say are you going to reprimand the Houston Rockets gm or not . Stuart or not. What is this about barstool sports . They have a tshirt. Lebron depicting him as king of china. Ashley this is second one. Injustice anywhere is a threat to justice everywhere. Our lives begin to end the day whether we become silent about things that matter. Which is interesting. That is tweet lebron james put out earlier in the year. Wait a minute. This is the one we were talking about. Susan wow. Ashley communist chinese propaganda figure, including words i cant say on television in chinese text. I imagine most people can read it. This is in honor of lebron james denouncing freedom of speech this is tshirt for the ages by barstool sports. This created its own cottage industry. Susan sympathizers who say who is misinformed and uneducated is lebron james. You should understand what were fighting for. That he doesnt get it. Were fighting against repression, freedom, democracy, everything you enjoy and we dont. Stuart is Christian Whiton still with us . We lost him. I wanted to make a comment here. American athletes seem to have no problem just insulting our president , left, right, center in the ugliest way possible. When it comes to a communist dictator who is suppressing people in hong kong, shooting them in the streets . Susan you have to own it, call President Trump a bum. Side with colin kaepernick. Then you want to fire Donald Sterling from the l. A. Clippers, then own it when it comes to other issues around the world, not just america. Not just, by the way you shouldnt be going with business interests. We know lebron has the bestselling jersey in china. 600 million fans of course. There are a lot of endorsement deals that and dollar signs. Stuart i understand reticence about criticizing, biting the hand that feeds you, i can understand that. But when you have bitten the hand of donald trump and our society, so vigorously, you better carry it through, otherwise youre just a hypocrite. That is the way it is. Susan call yourself social justice crusader, be one for the world. Stuart thank you, susan. Next one, today a house be subcommittee is holding a hearing on ecigarettes as a threat to public health. This as juul, you know, big vaping company, faces a new lawsuit from the mother of a teen who died. Kristina partsinevelos back with us, following it all. The latest please. Reporter that teen is 18 years old. He passed away overnight. Went to get water and found him on the couch. Stuart this is overnight development . That is the story. Now she is suing. The third hearing on capitol hill. Theyre really trying to put pressure on the industry, the ecigarette industry. I was listening before coming on set. They brought up the fda. One of the members complained that the fda is not doing good enough job to regulate ecigarettes. We know there are 26 deaths linked to vaping products. They havent figured out a direct link. Some say it is use of thc products found in marijuana. Some say its black market cartridges. You cant get flavored cartridges because there is a ban. Overall theyre still looking into it. Scientists are not 100 clear. Youre seeing level of illnesses jump so quickly a short amount of time as it gains popularity. We have a business story linked to this. In michigan, michigan was the first state to ban flavored pot. Mango. Now a judge ruled to put a preliminary injunction on that ban because it is hurting a business there. The business, it is called clean cigarettes. Theyre no longer, sales have dropped. They have to close stores. The judges ruling in favor of the business because sales dropped so dramatically due to the ban. Again we bring it full circle. The hearing is going on. There are some question marks around the product. It is helping those who smoke get of off cigarettes, off a product with less chemicals in it. But at the same time we dont know all the details so that the is big question mark. Stuart we dont know if the act of vaping, putting a vapor in your lungs, no matter what creates the vaping, we dont know if the act of vaping in and of itself is dangerous. To that point, there was a new Research Paper just came out in cancer preventative research. They said even short term ecigarette use can use cellular inflammation in those that never smoked. I know, the woman, great woman who did my hair, she is a vapor. She will be listening paying attention. Should she be getting off of it because she recently quit smoking. She used it as alternative. Many people have. Stuart yes they have. Millions i think have. Asking that question. Shall i keep vaping or go cold turkey, or go back to smoking . Big question for all of us who is responsible . Should the fda be better or businesses, researchers . Stuart i have no idea should we all quit smoking. Stuart maybe thats a good one. Kristina, thank you very much. Check the big board. It is go nowhere today, down 27 points. Hovering around 27,000 on the dow. Coming up a couple of millenials who have built a 21 milliondollar business selling snacks. They started the business in a garage, classically. Well ask them. How did you do that . Well be back. [ orchestral music playing ] [ tires screech ] mom, youve got to get yourself a new car. The cars fine. [ car horn honks ] i wish i could save faster. Youre making good choices. Youll get there. Got it . Yeah. Thank you. Bye. Were you going to tell me about this . I know i cant afford to go. You cant even afford to get yourself a new car. I still have this car so you can afford to go. [ music resumes ] im so proud of you. Thank you, mom. Principal. We can help you plan for that. Start today at principal. Com. Thats for sure. 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It could be the financial option youre looking for and give you the cash to supplement your other retirement assets. If youve had your home for a while, its probably worth a lot more today. So why not use that appreciation for anything you need maybe its some home repairs, or updates to make it more comfortable so you can stay in the place you love, your home. Get started today while home values remain high. If youre looking for extra cash now, accessing your homes equity could be the right Financial Solution for you. 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 stuart were down not that much. Down 39 points. Take a look at facebook, the head of the digital currency, libra, david marcus, well not have problem getting 100 people on board with this project by the time it launches. He expects banks and Financial Services to join in. This of course follows a number of big names who dropped out. Facebooks stock at 187. How about slack . Morgan stanley cut its price target and the stock is down 6 . So, gerri, on the floor of the exchange, whats the new price target . Reporter got to tell you the new price target, 28 bucks. What is going on here, microsoft, has competing work place messaging platform, eating some of slacks lunch according to Morgan Stanley which also says the company has problems going forward, increased competition, weakening i. T. Spending environment. A lot going on here. The stock is down a lot. They have a work place messaging platform. They have always been competing against microsoft. It is like investing Community Just figured this out. Shares down as you can see. Back to you. Stuart down inside. That is 6 down. Gerri, thanks very much indeed. Let me turn to a bigtime success story, why not . A couple, a millenial couple, i dont know whether theyre together or not, but two millenials, okay . They used to work for proctor gamble. They left those jobs, started, wait for it, a monthly snack box business, which is called universal premiums. The business is worth already 21 million. On my left, eli zowner, correct pronounciation . Yes. Stuart on my right, known kneeing bernstein. Universal premiums. Stuart let me see if i got this right. You send out a box of snacks each month, the box is based on a particular country, that right . Yep. You got it right. Stuart what kind of snacks you put in there . Really anything that would be found in that country. Have our box in front of us. Stuart what is the box . Show you. Fried egg chips. Stuart fried egg chips. That is from spain . Everything is from spain. Stuart if i subscribe, do i get a choice which nationality i want that month . Well youre part of the adventure. So you go on our adventure. Stuart the answer is no . You give me what you want to give me . Sometimes the best travel destinations are ones you would never expect. So yeah. Stuart hold on a second. Eli . Yes. Stuart 21 million, that gross revenues. For this year, yes. Stuart for this year . For this year. Stuart how long have you been in business . Too five years. Stuart 21 million after five years is pretty good i would say. Thank you. Stuart very good i would say. Tell me the obvious question, how much, how much are you going to charge me . We have three box sizes. The one monique is showing off is 25 a month. We have less expensive box 15 a month and a big box for 39 a month. Stuart people buy this, they like that country or educate their kids about the snacks there . Majority of our customers are families who enjoy the snack boxes once a month experience, they sit down, try the snacks. They rate them. We have booklet teach them about the culture and Companies Make the products, why theyre interesting and important. It is family game night replacement. Stuart do you have such a thing, monique, as a british box . We do. We thought about bringing it to you. We figured it was better let you explore a new country. Stuart so you want me to pay for it. What is in the british box. Salted carmel to have fee. Pickled on i dont know crisps. Stuart ashley nice. Not the pie fudge. Ashley tammy dodgers. Stuart youre on your screen, that is, what is that, which box . That is the british box. Short bread. Haggis. Ashley rubbish. Stuart british. United kingdom box. Very inclusive here. Stuart i love curry. Do you have an indian box . I do. We do. Stuart i want it. Lets wrap this up. Youre five years into this business. Youre already 21 million gross revenues. Ever going public or bought out by anybody you think . Our whole business our approach is always step by step. Were talking about the 21 million number. When we first started the business 4,000 eli and i put inup. The whole thing is one year step by step. Were planning a candy store in montclair, new jersey and offer the Products Online individually. That is where we are right now. We cant even dream what well be. Stuart your appearance on the show is a commercial to get you bought out . If you have anyone interested let us know. You might want to get into the business. Stuart i have a very Good Business of my own right now. Doing all right. It is universal premiums. Yes. Stuart and six months of it gets me 13. 75 a month . What is costs, jump in for 13 in75 a month. Yep. Stuart i get a box from a different country. Yep. Stuart monique, eli, i thank you. I hope you get bought out. This is america, so im told. Tulsi gabbard the only democrat president ial candidate to break from the back on impeachment. She says, impeachment will further divide our nation. Martha maccallum on that in just a moment. In our 11 00 hour well talk to a special guest, kyle carpenter. He jumped on a live grenade while serving in afghanistan. He saved his platoon. He won the congressional medal of honor. He is on the show. He will tell us the full story on this program today. Im happy to give you the tour, i love doing it. Hey jay. Jay . Charlotte oh hi. He helped me set up my watch lists. Oh, hes terrific. Excellent tennis player. Byebye. I recognize that voice. Annie . Yeah she helped me find the right bonds for my income strategy. Youre very popular around here. Theres a birthday going on. Karl he took care of my 401k rollover. Wow, you call a lot. Yeah, well its my money were talking about here. Joining us for karaoke later . Ah, id love to, but people get really emotional when i sing. Help from a team that will exceed your expectations. With Medicare Advantage plans that offer Health Coaching and fitness memberships. Plus hospital, medical and Prescription Drug coverage in one simple plan. With monthly plan premiums starting at 0. And wide provider networks, including doctors and hospitals you know and trust. Aetna Medicare Advantage plans call today. Well send you a 10 visa reward card with no obligation to enroll. Or visit us online at aetnamedicare. Com tv. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. If impeachment is driven by these is hyperpartisan interests it will divide already terribly divided country. We see this play out calls for impeachment began shortly after trump won election, as unhappy as it may make us as democrats he won that election in 2017. Stuart how about that . That was Tulsi Gabbard on the debate stage, who wasnt absolutely gungho for impeach him now. Martha maccallum is the host of the story on the fox news channel. Welcome to the show. Interesting moment, huh . Stuart all the others impeach, impeach, not Tulsi Gabbard. How do you explain it . She is interesting person to watch. She says something fresh and different. It gets her called a russian agent on some networks and supporter of vladmir putin. She says that is not true. But she has controversial stance on Foreign Policy she has been tested on in past. This is the voice of realism. I think there are a lot of people, particularly interesting, she said, even youve been trying to impeach the president since day he was elected. This puts together a chain of events how many different attempts there has been a way to overturn the outcome of the 2016 election. Stuart she was the only voice moved race among the democrats on the issue of impeachment. When i looked at the debate, i concluded, Elizabeth Warren is now very much the leader of the pack. She is very much in line to get the nomination. Would you agree with that . I would. I would. I think one of the interesting things is that it tells you, in one way are of looking at it, democrats are very worried about President Trump. They want him to be impeached. They think having that albatross around his neck, he was impeached in the house, very unlikely it will go further than that it will help them. I looked like i went to a bullfight once, they come out and stab the bull, i mean, it is something that many people are against. It is culturally of interest in some ways i guess but anyway, im making a metaphor what i think is trying to happen, the president , wound him as much as possible. So when the bullfight happens in november, they will be dealing with a bull that has some serious wounds. They dont, i think, even with these polls that were seeing right now in terms of peoples feelings on impeachment, what is making polls go over the 50 mark, you have a lot more democrats saying they would like to remove him from office. You have independents swinging that way a little bit in some of these polls. That is a area the white house needs to be cautious about. Stuart i was surprised to see Michelle Obama emerge as the frontrunner in a New Hampshire poll. Yeah. Stuart i guess that is because, there it is on the screen, moderate democrats must be a little worried about the far left taking over the party and running the election in 2020. So up pops Michelle Obama. What is going on here . Stuart, people here still just dont know a lot of these folks. Im talking about regular people out in the country. Stuart yes. They know Michelle Obama. They like Michelle Obama. They watched her for eight years. I also think it is stunning when you look at, i was talking to, about the hong kong situation last night. I was talking to ben i was in the crowd at hong kong. People josh hawley walk by. There is a senator hawley from missouri. People dont know senator you will hawley from missouri, he is rising star. The lack of engagement leads people to check the box. Is Michelle Obama running . Stuart yeah. Its a real problem in this country overall. Stuart fascinating. Martha, i will be watching. Thank you, stuart. Good to see you. Stuart sure thing. Loss is much more moderate now. Were down, 10, 15 point, thats it. Were back above 27,000 for the dow industrials. Now the democrats, they have a dilemma. That dilemma they will have to run against prosperity. I dont think Middle America votes for that. My take coming up shortly. There is a lot of buzz about bubbly drinks, right . Number of beer producers getting into hard seltzer. 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Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. Everything is installed in as little as a day by a kohlercertified installe. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. And ask about saving 1000 on a walkin bath, or visit kohlerwalkinbath. Com for more info. But shouldnt somebody this is be listening . Pression. So. Lets talk. Were built for hearing whats important to you, one to one. Edward jones. Its time for investing to feel individual. Stuart the Great American middle class is coming back strong, and this may be the most important factor in the 2020 election. Were talking prosperity here. 65,976, that is the Median Household Income right now. By the way, it is up 5,000 since mr. Trump took office, up 5,000. Now, in the 16 years before the trump era, Household Income rose just 1500. Trump, up five grand in three years. Bush, obama, up 1500 in 16 years. That is a newly prosperous Middle America and its Middle America that decides elections. You havent heard much about this, of course. Anything good about the trump years is totally ignored. And the socialists running for president repeat the tired old cliches about the rich getting richer and youve got to work two or three jobs to make ends meet. Got it. They cant say that tax cuts, deregulation and cheap energy have brought prosperity. To acknowledge that means acknowledging the success of mr. Trumps policies and thats something no democrat can do. Its the democrat dilemma. How do you run against prosperity. Well, you call the president names, you try to impeach him and you stamp your feet and say oh, i just cant stand him. Does all of that beat extra money in Middle Americas pocket and will Middle America take a leap in the dark for socialism . Hard to believe that we will abandon the system thats made this country wealthy just because of the president s style and tone. Consider this. President trump will easily win reelection if the economy holds up. Now, thats from moodys. Thats a big wall street analytical firm. They have been right about every president ial election since 1980 except for 2016, when they forecast a narrow win for hillary. Okay. They are saying prosperity wins and unless something goes badly wrong, we will remain a prosperous nation in november next year, and yes, its very hard to run against prosperity. The third hour of Varney Company just getting started. We cannot afford a billionaire class whose greed and corruption have been at war with the working families of this country for 45 years. Really, really, billionaires are making their money off their accumulated wealth. You either go out and make it clear to the American People that we are going to, we are going to raise taxes on the wealthy. We would repeal significant portions of that tax bill that helped the rich. The American People do not want tax breaks for billionaires. They want the rich to start paying their fair share of taxes. Stuart dont you love it. The 2020 democrats just slamming success, waging a war on the wealthy. I need some reaction to that. The right kind of reaction, please. Elizabeth macdonald, host of evening edit. How do you run against prosperity . Liz you cant. I come from a long line of new yorker yankee democrats from the 1800s. We are about common sense. Its the Democrat Party thats changed. They are trying to change the dna of the country. The Founding Fathers said the genius of america is about the entrepreneur, about the fruit of labor and thought, if you listen to alexander hamilton. So the fact that they have so dramatically changed, i looked at their Democrat Party platforms from 1960 through 2008. They are about prosperity, growth, low taxes and shrinking the size of government. That was the Democrat Party platform. Im not joking. We did a deep dive into it. Remember former irs bureaucrat lois lerner . Remember her text message, when she was in england saying the british are making fun of the debt load of the u. S. She said quote, the british dont seem to see they cannot afford to keep up their welfare state either. So you cant keep up the welfare state that this crowd wants without growth. So thats the genius of america. All of their policies would stifle that. They are all alimentary canal. This is not your grandparents party, much less your parents. Stuart bottom righthand corner of the screen, the dow just turned positive. Not much but up two points. Ashley well done, emac. See what you did . Stuart i want to bring in deirdre to repeat that moodys forecast that i was outlining at the top of the show. Deirdre saying essentially that the economy is not always front and center for every voter but it is never further than second from any voters mind as far as subject goes. They have done Research Since the 1970s. Their track record is phenomenal. So heres three key conclusions i pulled from their report. President trumps approval is low but stable. If the turnout is average in 2020, President Trump is favored to win. If turnout is high, democrats win. Essentially, 2020 comes down to turnout. Stuart and also, the economy. Deirdre exactly. Stuart prosperity. Deirdre bake in the current growth model we have as far as gdp. Stuart liz, i just dont believe that america is prepared to take a vast experiment, where a prosperous society, very strong income, et cetera, et cetera, were prosperous, are we going to take a leap in the dark, accept much higher taxes, the Green New Deal, socialism . Im sorry, but i dont see it. Liz i dont see it either. Listen, when you talk anecdotally to the trump voter, they dont they say yeah, he acts like a jerk. Thats a direct quote. Yeah, they dont like his tweets. Yeah, hes inappropriate. When they look at the policies, they are going to go into the voting booth like every other voter does and say hey, whats best for the country, what are you going to do for america and for the American People. You see it time and again, yeah, it is about turnout, thats why the moodys analytics model but for trump to pick up swing states like minnesota, also New Hampshire and virginia as moodys is now forecasting because why . The pocketbook. The pocketbook vote is the most powerful model for him right now. That gets the most Electoral College votes as the democrats want to get rid of the Electoral College and im asking, when is cnn going to do a debate on the economy or jobs . Where is that to be . Stuart dont hold your breath. How about a debate on growth. Ask the candidates how you going to get growth in the economy. How you going to get it. Ashley taxes. Stuart print some money, i guess. Liz its what obama did. 21 trillion in credit lines and swaps but mediocre growth. People say obama rescued us from the recession. He got trillions of dollars of help and mediocre growth. Thats the story there. Stuart on your screens, we have turned positive just moments ago. Lets check a couple of stocks for you. When you turn around like this, lets see if theres any reaction. Okay. Weve got on your screen, Earnings Reported yesterday by united health, Johnson Johnson, united continental. Okay. They came out yesterday. United continental was after the bell yesterday so this is the first chance to respond to that stock doing well, and it is up over 2 . Two bucks higher at 90 bucks. Check bank of america and bank of new york mellon. They reported this morning before the market opened. Profits up at b of a, expenses down at new york mellon. Both stocks really enjoying a nice rally right there. Yes, we are watching netflix and ibm. Both of those Earnings Reports come out after the bellai latern today. On your screen, a true american hero. Corporal kyle carpenter. He jumped on a grenade while serving in afghanistan, lived to tell the story. Congressional medal of honor recipient. Hes on the show today. Hes the youngest medal of honor winner, surviving medal of honor winner. He joins us in studio later on this morning. Im also going to talk about lebron james. Protesters burn his jerseys as his financial ties to china are coming to light. We are on it. Of course, we are going to get back to last nights debate. The democrats really divided on medicare for all and more importantly, how to pay for it. Next, a republican senator who says medicare for all is inevitable . Whoa. Hes a republican . Thats interesting. Stay tuned, please. 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. Aalexa its a masterstroke of sorrow by olivia watson. Heartache, brutality and redemption. The mist crept into the pivot hole beside her. Youre late. David what did you think of the book . Its a. Masterstroke of. Heartache. Brutality. And redemption. You didnt read it, did you . I didnt. But i will. The lexus nx, modern utility for modern obstacles. 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At least bernies being honest here and saying how hes going to pay for this and that taxes are going to go up and im sorry, elizabeth, but you have not said that. Stuart ive got to call that a fumble from the democrats on how to pay for medicare for all. Liz, we did hear from joe biden last night. Hes not in favor of medicare for all. Liz no. Hes saying even if we get rid of the entire pentagon, every single plane, ship, the building, you couldnt pay for four months of it. Thats joe biden last night. Bernie sanders you are going to have to raise taxes on the lower income classes, 29,000 in Household Income. For Elizabeth Warren to continue, it feels like shes whiffing fastballs by the American People. This might be the 25th time shes dodged the question. Stuart dodged the question. I think thats the answer. Shes dodged the question. Our next guest, i want to bring our next guest, hes a republican senator from indiana, former businessman, and he says, cant quite believe this, mr. Senator, but you are saying medicare for all is almost inevitable. Senator mike braun joins us. Want to explain that . The reason i think that is something thats going to happen is the industry is dug in to try to keep themselves opaque, not embracing competition. When i took them on 11 years ago in my own business, to make it consumerdriven, focused on wellness, covering preexisting conditions and no caps on coverage, nobody thought it could be done. We did it then despite the industry but i was the exception. They have grown cozy, they are comfortable and we as republicans are always foot draggers when it comes to reforming stuff that needs to be reformed. Health care has not been participating in free enterprise. If they were, we wouldnt have this issue or discussion of medicare for all. Stuart how much sentiment is there in congress for a real transformation of health care again . We had obamacare, what, eight, nine years ago, whatever it was, a few years ago. Are we ready for another major transition . Are we . That was doomed to fail then because it was Big Health Insurance and big government. Never when that happens do things get more effective and less costly. When 80 senators weigh in, even when half the other side is interested in doing it, to bring costs down for medicare and medicaid, youve got the rare instance of where we could have bipartisanship. I have seen it on the Health Committee that im on, with a lot of my ideas in it, but we as general, as republicans, are apologizing for a broken industry and employers, the only ones with skin in the game, have been quiet. They are now starting to speak up. So weve got a rare moment but if we do nothing, we will cascade towards a onepayer system. We will all regret it when it happens. Stuart it really would bring drug prices down . It would, because pharma does a great job of producing the pill, but its a basket case when it comes to distributing it from factory to pharmacy, and pharmacy benefit managers, pbms that i tried to take on, President Trump wanted to do it, they are digging in and resisting every step of the way, and the ceos of the Health Care Industry that are not competing, that are not transparent in their business, it will be their responsibility because they can move quickly to fix themselves. There will be fewer of them. The ones that survive would be in a healthy longterm Health Care System and we could avoid medicare for all. Stuart go for it, mr. Senator. Because we would really like to avoid medicare for all. Always a pleasure. Thanks for joining us, sir. Appreciate it very much. Yes, sir. A rather different story now. About marijuana. A pot producer has destroyed 58 million worth of that companys own product. Pot, up in smoke. Ashley up in smoke, indeed, literally. This was a company that when you get a license in canada from the government to grow marijuana for Recreational Use and maybe for medical uses as well, you can only grow so many plants. What happened here was they ended up growing apparently thousands more plants than they should have been in an unlicensed greenhouse so they were doing a lot more than they were supposed to. The operation was suspended back in september. The company has done a mea culpa, tried getting rid of all the plants, putting them in a giant hole and setting it on fire. There you go. If you are downwind, it could be interesting. Deirdre a very relaxing walk. Liz makes you want to buy a house there. Stuart reminds me of up in smoke. Okay. Got it. Now then, President Trump is meeting with italys president. We are getting some headlines out of that meeting, what the president has said. Here we go. He says china is already buying Agricultural Products from the United States. He said, this is the president of america, President Trump, he says the phase one deal with china is being written but it wont be signed until he meets with president xi jinping next month in chile. He also said all american troops have been removed from the syria border. Three major headlines there. Not affecting the market. We are still pretty much evenly balanced, minus 14 points on the dow, 27,000 is the level. We will keep getting these headlines coming at us and keep giving them to you. Now this. Tiger woods announcing a plan for a memoir. Question, how much is going to actually be shared in his book . We will have some details later this hour. We told you about this yesterday. Jennifer aniston joining instagram. She broke the internet, gaining eight million followers in one day. Was this all a marketing ploy to promote her shows on netflix and apple tv . She broke the record. Pretty good. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf 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. Shipsticks. Com saves you time and money. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Call, click, or visit a store today. Stuart im intrigued with this Jennifer Aniston story and instagram. I believe we reported it yesterday. I wasnt here. Deirdre will tell us again. Deirdre shes up to around eight million followers. Stuart one day . Deirdre yep, in one day. She tweeted a photo from the friends cast. You can see hi, my name is jen there. She tagged everybody there. By the way, little trivia for u the only friends member not to be on instagram is Matthew Perry so they are teasing him a little bit. Apple tv plus going to debut november 1st, 5 a month gets you that service and miss aniston is actually in a tv show called the morning show which is all about morning television, a bunch of stars. This is ten episodes. You kind of have to bingewatch it if you want it. Reese witherspoon, steve carell and miss aniston will make 2 million per episode. Stuart 2 million per episode . Deirdre shes not wasting her time. Stuart very good lineup. Thats a cast of stars. Deirdre there are ten stars. I gave you three of them. Actually, it was a takeoff on an Australian Program called the morning wars. Stuart another major league entry into the streaming wars. Deirdre yes. Because disney plus is coming online. We know that we will hear from netflix today. Stuart netflix, they are the original streamers and as you said, theyve got their profits coming out this afternoon. Ash, its all about the stock will react solely to new subscriber growth. Ashley thats the lifeblood of these operations. They are estimating, i know you love that word, i will say it one more time, estimating deirdre stuarts like m going back on vacation, forget it. Ashley seven million new paid subscribers is what the market is looking for on netflix. Now, can they reach that or not . Dont forget, this will be the last quarter of reporting before the big boys are back in the game. Weve got disney plus and apple plus will be around when they get to Fourth Quarter earnings. Its going to be interesting to see how that plays out. Deirdre disney and apple both cheaper than netflix. Stuart lets not forget that. This is a streaming block, i guess. Lets get the news on grease, the movie. Big thing. Theres a spinoff coming . Deirdre thats right. About the high school, rydell high. This is an iconic pop culture phenomenon. Grease is still the word. The question is can they get the music. They wont get the rights as it stands now. Hbo maxs streaming service wont get greased lightning or Summer Nights that ashley used to dance to in his bedroom in england with the hair brush, singing. Thats the key. Can they come up with new pop culture stuart thats not much of a spinoff, is it . Ashley in name only, maybe. Stuart i was all over the movie when it came out. Deirdre but the music was a huge part of it. Ashley olivia newtonjohn. Stuart President Trump has said all american troops have been removed from the syria border, and we are strong again in the mideast. By the way, thats all from his press conference, but he was meeting with italys president. We are getting leaks of what he said in that meeting. Next, senator James Lankford served in syria. He has an opinion on Us Withdrawing from syria. We will join him in a moment. The markets, now pretty much dead flat. Lets pick a fight. Mark grant is with us. He said Interest Rates were going to zero. Didnt happen. He will join us shortly. I wanted more thats why ive got the power of 1 2 3 medicines with trelegy. The only fdaapproved 3in1 copd treatment. Trelegy. The power of 123. Trelegy 123 trelegy. With trelegy and the power of 1 2 3, im breathing better. Trelegy works 3 ways to open airways, keep them open and reduce inflammation for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1 2 3. Trelegy 123 save at trelegy. Com stuart markets dead flat today. Look at that. Down half a point. Thats it. A quarter of a point. Third of a point. Thats a gonowhere moment. Interest rates, look at the tenyear treasury yield. Look at that. 1. 75 . That has enormous bounce from where it was just a couple weeks ago, in the 1. 30s. Thats a big move in the bond market. Come in, mark grant, our bond guy. Mark, you were the guy stuart. Stuart im not going to roll out the videotape but you are the guy who said Interest Rates are going to come all the way down to zero in america. It hasnt happened. I said towards zero. Stuart towards zero. I didnt say it was going to happen in the next 24 hours. Stuart okay. For well over a year and a half, i have been saying our Interest Rates are coming down and the fed has to be more accommodative because if you look at the Interest Rates in europe, two year and five year, almost every country in europe is now at negative Interest Rates and ive said the fed has to stand up and protect american interests and move our Interest Rates down so we can compete and so that the dollar can compete. We bounced about 30 stuart thats a huge bounce. I mean, that is a gigantic bounce. Its 30 basis points is the bounce. Its not gigantic but its a bounce. We have come back up. Then i think the fed is going to lower Interest Rates some more. I think this also has to do with whats going on in the corporate world, because we are really, even at this level, stuart, we are in a borrowers paradise and its a disaster for retirees and savers, insurance companies, banks, you can name it. Stuart but you think we are on a long progression down for Interest Rates from the Federal Reserve, no stopping it, down, down, down, down, down . Stand up and say i said that, yes, ill say that. Yes. Stuart down, down, down for Interest Rates as we move through late this year and into next year. Will we get close to zero . I dont think in any shortterm time we are going to get close to zero, no. What i do think is that the fed is going to lower the expectations some more. As i said, as you recall, President Trump quoted me on your show, i said the fed is americas central bank, its not the worlds central bank, and we are going to have to go down but what is making it very difficult for, especially, are savers and retirees. Insurance companies are having huge problems at these kind of rates because they cant get any return. However, having said that, who its great for is the American Government because even though we are borrowing more money, we are borrowing at so much less of an Interest Rate that its very helpful to the economy and it breeds, to use your word, prosperity. Stuart yes. That is my word. I use it a lot. That is your word. Stuart all right, mark. We will look out for those Interest Rate moves. We appreciate as always, you being with us. Mark grant. Thank you, sir. Great to be with you, stuart. Thank you, sir. Stuart i want to talk about hong kong, because chief executive there, carrie lam, she was interrupted twice by prodemocracy law makers while giving her annual address to the legislature there. Liz, this is a big deal because it shows that china really doesnt have a handle, not on the legislature in hong kong, nor on the people of hong kong. Liz after five months, right . This is serious because this is the first time a leader in hong kong could not deliver a policy address in the chamber. What happened at the same time, it means that extradition bill that triggered all the rioting in the streets could not be formally withdrawn so it delayed that, too. Thats whats going on right now in hong kong. So the leader abandoned the annual address, had to do it by videotape after protesters and Opposition Party members were basically disrupting her speech. Stuart just hasnt gone away. Liz has not gone away. Stuart theres no solution, hasnt gone away. Protesters by the thousands are still out there. I notice a decline in vandalism. I have not seen much of that. Liz we saw a report crossing that a street protester was beaten with hammers. So its serious still, whats going on in the streets of hong kong. Stuart sure is. Okay. I want to know more about lebron james, basketball great, and his financial ties to china. What have we got . Deirdre some people are saying lebron james is hypocritical in this instance because his sneaker line is one of nikes bestsellers. To fill out the context, nike gets 27 of its revenue in china, at least that was last quarter. If you blow that out for the year its about 6 billion a year. Long story short, nike is huge in china. Lebron has this lifetime deal with nike which analysts say is probably going to pay him 1 billion by the time hes 64 years old. He also has a Production Company thats going to be releasing a film, space jam 2. These are the tee shirts from barstool, basically they put out this thing saying for all you fans of lebron who want to crush freedom of speech and oppress the masses, we have a prolebron, prochina, procommunism teeshirt for you. Im actually not going to quote what the message says below. Not for tv. Then he has something for what he calls you silly rights human activists. Portnoy is very sarcastic, likes to push the envelope. Stuart calling out lebron james. Now, tiger woods. I think you know about this. Hes going to write a memoir, his memoir. Any idea whats in it . He says so much has been said about me, now its my turn to get it right. He says many of the articles and the books and tv shows about him have been basically wrong. He said this book is going to be called back by the way and he says this book is my definitive story, in my words, expresses my thoughts, describes how i feel and exactly whats happened in my life. No release date being given. Could make some interesting reading. Stuart i will read that. Ashley he had a big life. Stuart i will read it. Thanks very much. I want to turn to something much more serious. Turkeys president erdogan has announced that he will be meeting with Vice President pence and secretary of state pompeo when they visit the country later on today. Senator James Lankford, oklahoma republican, with us now. Senator, i know you visited both turkey and syria. Its a real mess. Do you think our withdrawal of our troops was a good move . History is going to tell that longterm. What the president decided to do was get our troops out of harms way while the kurds and turks are fighting each other. When the turks roll in with their tanks, we were caught in between and the president s decision is we are not going to be between two allies while theyre fighting. The kurds and turks have been fighting for decades at this point and everyone knew you go back four or five years ago, that as soon as the war against isis is over, the war is going to regain between the turks and the kurds and it certainly has. Stuart theres a load of people saying look, we have abandoned our allies, the kurds, who fought valiantly alongside us for many, many years, and we risk the resurgence of isis. Do you still support the president withdrawing those troops . So i certainly support him protecting our troops. Thats one of his responsibilities, to be able to protect the lives of our troops, make sure theyre not caught in a crossfire in this mix. But we should be able to go engage with the kurds to make sure we are securing all these prisoners. One of the biggest threats we have is the kurds immediately turned to go fight the turks, leaving some of these prisons open and leaving many, many isis fighters then free to be able to go run and go back and reengage in battle. We obviously hope they go home, but these are isis fighters and all likelihood they will reengage in battle. We have to make sure we stay on top of that. Again, not all kurds are the same. Many of the kurds we fought alongside of are very prodemocracy, free market, pro freedom of religion. You wills ha you also have the pkk that the United States has declared a terrorist organization for years. They carried out bus attacks and car bombs in ankara. The turks consider them terrorists. We consider that group of kurds terrorists but the turks consider all kurds terrorists and thats the problem. We want turkey to be more restrained, not attack civilians while trying to take on people they are trying to bring car bombs to them. Stuart senator lankford, thanks for joining us. We do appreciate it. I have been showing on the lefthand side of the screen General Motors stock price, up 2. 3 . I think we have news of a tentative deal between the union and management at gm. Grady trimble, do we . Reporter thats right, stuart. Its official now. According to the uaw, they have reached a deal with General Motors after five long weeks of contract negotiations. Word probably just starting to trickle down to these workers right now. However, the uaw is not releasing the details of the contract that they have determined with General Motors, but it seems like they have reached a deal. We can confirm that they do have a deal, we just dont know the details of it. I want to talk about next steps. Tomorrow, theres a meeting with the local union leaders. They will meet and decide whether to approve of this deal, and then if its approved, it will get passed on to the 49,000 General Motors workers across the country. Also at that meeting tomorrow, they will decide whether to end the strike. As of right now, at least for the rest of today until that meeting tomorrow morning, the strike will continue but there is a deal according to the uaw right now. Stuart thats why the stock is back up to 37 a share. Grady, thanks for joining us. Appreciate that. Now, we will bring you a true american hero. Corporal kyle carpenter. He jumped on a grenade while serving in afghanistan to save his troops, people with him. He lived to tell the story. He is the youngest living recipient of the congressional medal of honor and he joins us in our studio to share what is clearly a remarkable story. Hes with us after this. 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Licensed humana sales agents are standing by, so call now. By his undaunted courage, fighting spirit and unwavering devotion to duty, in the face of almost certain death, Lance Corporal carpenter reflected great credit upon himself and upheld the highest traditions of the marine corps and the United States naval service. [ applause ] stuart im sure we would all like to join in the applause. That was the moment our guest received the congressional medal of honor from president obama. He is the youngest living recipient and hes with us right now. His name is kyle carpenter. Sir, welcome to the program. As always, i appreciate you having me on. Stuart great to have you here. Thank you so much. Stuart the book you have written is called you are worth it. Have i got that right . Lets put that on the screen. There you go. You are worth it. First, i have got to ask you, what did you do to win the congressional medal of honor . We are just saying you jumped on a grenade and saved your marine corps fellows. How did you do that . What did you do . Well, after very extensive twoyear long and 254page investigation done by not only the marine corps but the department of defense, it was concluded from eyewitness testimonies and thorough examination of my gear and the route i was on, by postblast analysis team, that november 21st, 2010, i did cover a grenade for my fellow marine that was thrown in a daylight attack by the taliban. Stuart you dont remember it . No, sir, i do not. Stuart you dont . You just woke up in the hospital much later on, and we are told what you had done . Correct. Roughly five weeks later, and the last thing i remember, i dont remember the moments leading up to the grenade. I dont remember seeing it or thinking about it. All i remember is physically how i felt. My body felt, and what was going through my head as i bled out on that roof in what i thought were my final moments on this earth. I went unconscious on a hot, dusty rooftop in afghanistan and i woke up over a month later with snow outside of my hospital room window on the other side of the world, and my first sight was opening my one eye i have left to five christmas stockings hanging on my hospital room wall that my mom had hung, hopefully and lovingly preparing for life and the holidays. Stuart but you dont remember why you did it . I mean, to the rest of us, the idea of jumping on a live grenade to save your fellow marines, its not something which we would do because we are not like you. See, if you would have asked me in the moments leading up to it if i would have done that, i would be lying if i sat here and said that oh, of course i would have covered a grenade. That is just such a surreal idea. But not only is that the beautiful thing about the human spirit, you never know when or to what capacity you are going to step up, but also, no, i dont remember it, but if i had to guess, not only am i so proud and thankful that i was able to step up and be that friend, person and marine when i needed to be, but also, as marines, were so just beyond proud of our history, the legacy of courageous marines that have come before us and set that path for us. It makes us want to be courageous so i dont remember, but if i had to guess, i just, i would think that i was wanting to live up to those incredible marines that have come before us and covered grenades, and when they got told that youre probably not even going to make it to the beach in world war ii, at 17, 18, 19 years old, and not only did they still get out of that landing craft, but they charged on to those beaches knowing the potential and almost inevitable outcome. Stuart well, sir, kyle carpenter, you are an inspiration to us all. Thank you. Stuart its an honor to have you on this program. Thank you. Stuart we didnt have time to get to your book but i promise if you leave it here, i will read it. I might even buy one. Kyle carpenter, an honor. Thank you for being here. Thank you. Stuart very much obliged to you. I cut into this because weve got breaking news on this tentative deal between the uaw and General Motors. Grady trimble with us again. You just spoke with whomsoever is down there. Whats going on . Reporter i did. So these are General Motors workers. Again, the details of the tentative agreement arent clear yet. The union isnt releasing those. But its just trickling down to the workers here, and even if they dont know the details, they are excited about it because they havent received their normal paycheck in just about five weeks. Listen. It feels good. People will be able to go back to work. I mean, people are struggling. But were not going to go back until we have a good agreement. Reporter you are going to wait to see the details yourself and vote on that . Absolutely. Im out here. Im here monday through friday. I mean, i do what i got to do. Reporter what plant do you work at . I work at [ inaudible ] power train. Reporter where is that . Romulus. Reporter what do you assemble there . [ inaudible ]. Reporter as he said, they are not going to go back until they see the agreement. The strike is not officially over by any means. Union leaders will vote whether they are going to end the strike or keep it going until the rank and file workers approve it tomorrow. Stuart thank you very much indeed. By the way, the can sto stock io where it was before the strike began, 37 a share. Also, notice bottom righthand corner of the screen, the dow has turned positive. Now we are up 20 points. Also on your screen, we are discussing bubbly drinks. Its the summer of the seltzer. Brewers going all in on fizzy drinks. How about wine . Well, we are going to deal with that. Bubbly wine. Not champagne. Just bubbly wine. Our favorite wine maker, charles smith, joins us in the studio with his own sparkling wine. What on earth is he up to . I cant believe it. Everyone knows jim beam, the bourbon guys. Got it. They are putting up the beam family home, making it an airbnb for the price of a bottle. How about that. Deirdre which bottle . Stuart full details coming up for you. Thats a promise. Limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. Stuart the jim beam family home is going to become an airbnb. Thats the news. The news also is how much . Liz 23 a night. The cost of a bottle of bourbon. Its an historic home, its just 23. Why . The jim beam companys saying hey, join our family, come have bourbon in the fall which is the best time to drink it. So its on the distillery grounds. Stuart its a commercial. Its a marketing technique. Deirdre not a bad one. Stuart im interested in the idea of bubbly products in the beer and wine business. Our guest is charles smith, one of the bestknown wine makers, one of the best wine makers in america. Of all things, hes jumping on this trend with his own sweet bubbly wine which has a top to it like a beer top. You know, everybody is comfortable and familiar and something they already use. The idea is always about communicating wine to everybody because i make my wines for everybody. Stuart called popup . Doesnt that tell you theres going to be bubbles in it . Also, its a contemporary word that was part of our vocabulary the last ten years. The idea is about being, you know, contemporary and the idea here, where you maybe have delicious wines from italy or spain but no idea whats in them because of the different language. They can be very delicious. But the idea is this is my domestic answer to it. I made it for the 20th anniversary of my wine business. Stuart its not sweet, is it . Absolutely dry and delicious. Of course it is. Stuart why, its like a beer top to it . Soda pop or juice. Because you know, people are unfamiliar with the cork and the cage and all this stuff. Everybody knows how to do it. Theres no embarrassment. Its easy. The thing is, it does all the same job a cork does. A lot easier, right . Stuart you kind of dressed up for us today. You put a caftan on to advertise the new product. Its a big deal here in new york city. Only two reasons why i come to new york every fall. One for the new york Wine Experience and one to come see you. Absolutely. Thank you for having me. Stuart good luck with popup. A dry bubbly white wine. Thank you. Thank you so much. Stuart see you soon. Still ahead, President Trump will be holding a News Conference at the top of the hour. A lot going on today. You will see all of it right here. Stay with us, please. Imagine traveling hasslefree with your golf clubs. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf 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. Fidelity now has zero commissions for online u. S. Equity trades and etfs. And fidelity also offers zero account fees for brokerage accounts, plus zero minimums to open an account. And only fidelity offers four zero Expense Ratio index funds directly to investors. With all of those zeros, there are zero reasons to invest anywhere else. Fidelity. So maybe ill win saved by zero stuart President Trump held a meeting with italys president earlier today in the oval office. We have some headlines what he said. He said china is already buying Agricultural Products from america. He says phase one of the china deal is being written but wont be signed until he meets with president xi next month. He says all american troops are removed from the border. In a few minutes time the president is to hold a press conference. Well hear a lot more at that time. Other president answers any and all questions from ail reporters. Neil i hand it to you. Neil stuart, thank you. We do have apparent agreement between General Motors and United Auto Workers what could be a 31day strike. They havent dotted eyes, cross ts. Gm stock is up on the news. Other ancillary stocks, auto related suppliers, reversing earlier losses on at least some hopeful language we got out of both sides. In other words both sides indicating from the companys perspective and Union Perspective they have agreed in broad principal on an end to what has been the longest strike at gm going back to 1970, which was many, emdecades b