President trumps criticism . Yesterday the president called for lower Interest Rates just like our foreign competitors. Event that far from now the market opens, interesting on the day impeachment hearings to start, stock prices are out at record highs in the dow jones will be down about 80 points. Closed unchang. Statistically unlikely, but it happened and s p 500 down about a, nasdaq down about 20, no serious selloff at the opening bell a halfhour for now and then there is this, extraordinary scenes from hong kong overnight. Battles on the streets. The city, paralyzed the Central Business district shut down. Schools closed. Its open warfare, a revolt against beijing, serious stuff. You are about to see a important day. We will find out if the democrats really can convince voters that President Trump should be thrown out of office and we will find out if the economy can keep growing in the stock market keep rallying. Varney co. Is about to begin. Stuart moments ago we set it, its open warfare in the streets of hong kong. There may be implications with china trained, political implications and senators are pushing for eric though, but in my opinion the real significance is the destruction of a basket of freedom and that is a terrible thing. Susan lee, more on this, please. Hong kong society is on the brink of a breakdown, total breakdown in the largest stock market and therefore the fourth largest Financial Capital in the world. Third straight day of disarray, talking about right outside central, the main part of the city and this is where the banks are situated, where most of the big foreign multinational are and as you see open warfare on the streets with Subway Service stalled as well. Kids are from going to school and offices closed and as a result the stock market is down another 2 . Two out of three days the stock market has seen major decline and when money moves like that its when people really pay attention. Stuart at this point its attention its reporting whats happened, the implications and what follows will come shortly, but right now this is warfare. And the worst violence weve seen in five months with two people shot monday. Stuart we have both lived there come a work to there, terrible thing. Very terrible. Stuart less than an hour from now, we will see the first impeachment hearing in more than 20 years in joining us mark green republican from tennessee and a member of the House Oversight committee. Opinion, full of opinion this morning took my think we will get bogged down in legalistic details turning off anyone except trump haters. Where you come from, sir this thing will get into a quagmire quickly and whats frustrating presses adam shift is the one who said it would hurt the country. This would be damaging to the country if this was a partisan impeachment and thats exactly whats happening i guess he doesnt care about hurting the country anymore. We are in it and today starts the schiff show. Stuart do you think voters will be convinced on the basis of these hearings at the president should be removed from office . Not at all. Theres no substance here. There is no quid pro quo they dont like that word so they had gone on to bribery which essentially you ought to have a quid pro quo to have a bribery. Everyone in america has accepted the process, which you described aptly in your intro is unfair and violates the constitutional protections of due process, facing your accuser, all those things have been thrown to the wind and they are moving forward so the process and the substance, this thing fails on both of those in the American People will see that. Stuart thank you for appearing with us. I know its important for everyone and you took time for us and we appreciate it. Thanks, stewart. Stuart President Trump took a shot at the Federal Reserve yesterday in a speech at the Economic Club of new york. He wants lower rates and he was them now are joining economist john wilensky. That was a big taunt from the president to the fed yesterday in the fed testified. Will he respond . I think he will tell us listen, if the economy doesnt pick up speed i should say Business Sales if they dont start again speed soon the fed will have to cut rates, no question. The way the press the president is wrong on this issue that we begin to see some very substantial meaningful pickup in the rates of growth for growth for Business Sales. Stuart what im looking for is where is the economy going in the future and are the good times going to continue to roll . I think the fed can afford to allow the good times to continue to roll right now inflation seems to be well contained. Theres no reason for the fed not to go ahead and lower Interest Rates so we can keep moving. Unemployment rate lower and we could keep expanding business activity. Stuart what you make of the president as he repaired yesterday to the europeans with their negative rates where the lender pays the barrio. Theres a reason for these rates are cueto went it because it so lousy, those economies are barely growing by maybe 1 annually and thats the case for some time we dont want negative rates are that type of growth. Stuart could it be forced on us . If they go to negative rates, they are just pushing money out of the euro and into the dollar which hurts our trade position. I think we would only be forced to bring our rates below zero in the event that the Dollar Exchange rate appreciates by so much relative to the euro that we have no choice, but we are not there yet. Stuart you are an economist. You see this economy just keeping on rolling for the foreseeable vote future; right . I think i see a growing through 2020, no sign of a recession. Stuart growing through 2020. Into 2021. I dont think there will be a recession prior to the 2020 election, unlikely. Stuart thank you, sir. My pleasure. Stuart day one for the disney plus a streaming service that was yesterday had a few glitches lauren, what happened and has a been fixed . 8200 glitches at the height with a few hundred recorded now folks had trouble streaming certain shows. It was a bust launch for disney im a but not a failure because there was much demand for their streaming service. What will be challenging for disney is the transition. Are they a tech company that they had to deal with glitches . They bought a streaming company to help this go smoothly. It wasnt entirely successful, but that is something they did not use the to think about and also the change in their business model. Us get you to the theater and the themepark and now wanted to just sit home on the couch and stream our stuff come as a transitional time. Stuart apple tv plus, in talks to add a former hbo executive. Is that a big deal . The ex ceo, guess very big deal because if the report is to he is the guy behind game of thrones and others and apple tv needs him. Stuart at ts warner media will launch its new streaming Service Called hbo max launching in the spring. This is big because my daughters watch this show. Whats it about, bring it back and show . They are talking about it. They had to get the six main cast members on board, so at the end of this year netflix no longer has friends. Who gets it for 425 million . Hbo max in time for their new streaming Service Content with a builtin audience. Your older or younger daughters . Stuart all of them. I grew up with friends, but younger kids didnt, but they seen reruns on netflix and other sites so its that new audience. Stuart i have watched it so many times that i know the scripts for several of those episodes. Who is your favorite . Stuart schwimmer, the one who ross. Stuart unlike the one where he is suntanned and the one with the white teeth. I think its the same one where he over tends and has the white teeth. Who was ross dating on the show . Stuart jennifer aniston. The characters name . Stuart rachel. Its one of my daughters names. I do remember these things. We just spent a minute talking about friends and is up we are about to see the president impeached. Thats what people care about what he comes to streaming, real people shows. Stuart it matters, important stuff. Bigmoney, by the way 400 million for streaming rates. Stuart for a 20year old show, a lot of money. Seinfeld, same thing. Stuart allie baba has okay to list shares on the Hong Kong Exchange for the stock is down in new york because that might dilute the new york shareholders i own a some of that jerk smile direct club, that down after its first earning report going public, not a rosy forecast. 10 a share. I have forgotten where it went on the ipo, but way above that one. Of the stock is up 4 . Some of them are red or white. Stuart originally they were always black and i like them. I had one. What happened to it . Stuart it was too big for me so i get it to someone bigger than i. It was 800 bucks, i remember that. Check futures, we will be down but not that much, 95 the dow jones, 10 s p, 29 for the nasdaq. Disney plus as we said launched yesterday in their big thing is animated films. To compete netflix has its very own animated movie. Netflix going for the youngsters. We have the director and the first look at that movie coming up. Google getting into finance. Is partnering with the banks to offer Checking Accounts we have details on that. And Hillary Clinton says she is under enormous pressure to throw her hat in the 2020 ring saying many, many, many people want her to get back in. More varney co. After this most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. Stuart lets open pandoras box. Looks like google may be getting into banking. Offering Checking Accounts to consumers. The latest Silicon Valley heavyweight to get into finance and banking. At they are going to launch accounts partnered with citigroup and the credit union at Stanford University codename cachet. Guess this is it googles the latest one to get into banking and finance. We had a course face trying to launch crypto and libra and then amazon looking into offering Checking Accounts. What do they do with the data . Is the most important part, do they protect your data . Is their privacy when it comes to Financial Information and how important that is because it goes back to our livelihood. Stuart heres one more, senator warner says google fits bit deal needs a lot of scrutiny. Im sure does especially after the latest federal increase inquiry launched into google and its partnership. Its been basically loading that the million of its patients. Dot into the cloud in partnership with google, but they have access to lab tests, i mean very sensitive personal data and they also bought a fit that four, 2. 1 million so basically senator warner says we need to review this and review google if they are getting into banking before they launch into new businesses when there is no regulation against it stuart everything is out there, just everything. Theres this one, the starbucks chief executive was in chicago for the opening of the worlds biggest starbucks he was there, spoke to him, come on in, jeff. What did he say about the economy and super spending . Unlike his predecessor, Kevin Johnson doesnt want to run for president and he said anyone who thinks that economy is in trouble they are thinking wrong. He says the economy is in great shape here and in china to take a listen. So thus far the us, i think we see very healthy Consumer Sentiment. Reporter worries about the future . Look, we have been business 49 years and have had to navigate microeconomic and geopolitical situations and we will in the future but now i think we see a healthy consumer. He says there is no backlash in china even though us and chinese officials may be arguing about trade there is no backlash against starbucks in china with 4100 starbuck outlet chart outlets in china and the biggest one in the world is now here in new york, but i dont even drink coffee. Stuart you should. Its lost on the. Jeff, thank you. A look at futures on the day one of impeachment. How will they open and are they related . Dow jones about 90, s p nine, s p 29 and i dont think its related to the impeachment hearings thats a real stretch to relate the two, but we will be down. Lots going on as we talk impeachment hearings starting at 10 00 a. M. Eastern. J powell from the fed at 11 00 a. M. And politics and money coming together, thats what we do and thats why you had to stay with us. We are over the whole ball of wax. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. 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. 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Giving you more choice and control compared to other top wireless carriers. Save up to 400 a year when you switch. Plus, get 50 off when you buy any new lg phone. Xfinity mobile. Click, call or visit a store today. Stuart dare i say that Hillary Clinton has left the door open for a 2020 run, tentative. She says shes under enormous pressure from many, many, many people to jump back in again. Lauren . Shes probably look at joe biden who is the moderate choice or what they thought would be and hes not doing well in the polls and mayor pete is at the top of a new poll in iowa, 37 years old so biden has been a disappointment and now Mike Bloomberg is saying this is maybe my time and Hillary Clinton is saying the same. Two things to note about hillary as well as mayor bloomberg, they are not that radical. They would come in and they are not these leftists candidates that Bernie Sanders and Elizabeth Warren, so there is a riff in the party, infighting and the party. They dont have their candidate yet. Stuart seems to be chaotic. 10 candidates have qualified for the next debate november 20, with another six to want to get into that debate. We have do ball patrick former governor of massachusetts who may jump in and former attorney general eric holder may jump in. Bloomberg is registering all over the place to get an. Thats chaos. Yes, so with 18 potential candidates for the democratic nomination i think it comes down to who has the biggest coffers, who can outspend everyone else. Stuart bloomberg. In terms of getting their name out there. Stuart all these candidates will spend an arm and a leg, a fortune to make themselves known way before the actual election. Yes, i mean, we are still 12 months out on the actual votes and i think by march there will be a shakeout with a closer look at who actually has tracks. Stuart march for sure. Now this, this is the first day of these impeachment hearings. This from capitol hill, Speaker Pelosi arriving on capitol hill just ahead of the impeachment hearing. Heres what she said, we have a responsibility to keep as custodians of the constitution, we are defenders of our democracy. Im prayerful, thoughtful and actually sad today that our country has come to a place where the president , the president doesnt understand what article to does not say that he can do whatever he wants, but he was not above the law and he will be held accountable about was from Speaker Pelosi as it she walked into capitol hill to attended the hearings today. We are going to take you to wall street in a moment. We will be down not all walk, down 90 in the dow jones, 10 s p, 32 nasdaq i dont think this minor impeachment and has more to do with what President Trump said about china trade yesterday. We will be back vo the moth without hope, struggles in the spiders web. With every attempt to free itself, it only becomes more entangled. 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This is not unprecedented in terms of being impeachment process as before markets have gone up and if they had been going down before they go down. This market has been going up in the impeachment process will do nothing. I think the market if the impeachment process is sean in terms of the public saying this is a nonevent i think it has a good leg to go higher. Stuart that would be interesting. Dow jones is up 3. 6 since the impeachment inquiry started. Stuart 3 of . 3. 6. Stuart 9 30 a. M. Eastern in the markets have opened and i believe we open to the downside, yes. 79 points down as we seek. I went to go straight to Edward Lawrence because he knows, he has seen what fed chairman paolo will say when he testifies at 11 00 a. M. Give me the bullet points, Edward Lawrence . We will see maybe fireworks in the market today is the Federal Reserve chairman will signal he has not supported a rate cut in december with the caveat he says if Economic Data comes in slower they will not hesitate to act and cut rates in december, but as it stands no rate cut in december. He will say the feds wont hesitate to ask. Says the Federal Reserve chairman will paint a glowing picture of the economy saying rising jobs, rising wages are sparking that consumer to spend. He said he will see no end in sight to Consumer Spending and thats driving our economy. He says the current policies have brought workers from the edges into this economy and the Federal Reserve chairman will indicate businesses are taking on a bit too much debt. He says risk is a bit too high and says the thirdquarter gdp is lower, 1. 9 because of the gm strike in the Federal Reserve chairman will put congressional members on notice saying the federal debt is on the unsustainable path and will then go on to say which he is not done in the past and says Congress Needs to address that unsustainable path because if it continues Congress Wont be able to help with fiscal policy in a downturn. A bottom line, signaling no rate cut with a caveat unless Economic Data comes in weaker. Stuart good stuff. Thank you. Lets go back to that because its had i dont think its had market impact. We were down at the opening bell, 70, 80, 90 points and along comes this news of what fed chairman powell will stale seo we are still down. The fed chair will say he doesnt support a december rate cuts unless the data we get from the economy justifies a rate cut and hes going to place a glowing picture of the economy as we go forward as he should because spending is still strong. Its expected to grow around 2 this year and its very important that Consumer Spending is strong despite the fact we have been talking about a trade war and how it impacts pricing and how it could hamper the consumer, obvious signs are hit it has not so far. Stuart let me recap with two minutes into the trading session the dow jones is off 80 points, s p 11, nasdaq down 30, not much impact from the fed chairman saying he wont support a rate cut in december. And there you have it. Lets move on to themes which we have developed on the program, themes in the market, first of all streaming. Would you buy any streaming stock right now as the streaming wars get rolling and i guess, several i think are on my buy list. With already started buying at t, five and a quarter dividend deals in the company with a massive amount of cash flow. The problem is if you dont have content, at t has content, Nbc Universal contact, disney tons of content, amazon creating content, netflix creating content i like a lot of them right now because i think there is nowhere for the stocks to go but up because if you look at apple, apple in terms of what it is apple becoming, its becoming a studio so the studios have made so much money over the years and decides besides everything apple does its becoming a studio so we are looking at companies that have cash flow and the ability to create content. We already own apple. Love amazon. Netflix is maybe the one im not quite sure. Especially love at t. Stuart what you have . At t is different from apple in that it probably has the highest nonfinancial debt on the markets anywhere with 180 billion worth on the Balance Sheet, thats considered a weakness, by the way. Stuart i would not call that a streaming stock. Not right now. Warner media emma but disney is also spending. This is about spending to get eyeballs and disney says they are okay with not making a prophet for the next four years. Stuart the resolution revolution in streaming has begun. Look at this, back to the big board. We are down just a 50 points. What fed chair powell will say in a couple of hours has not hurt to the market, only down 40 points as of now impeachment obviously not hurting the market. Google is being investigated by the feds over their health tracking, not affecting the stock. Starbucks opening the Worlds Largest starbucks short store in chicago. Look at this, 10 year treasury yield above 190 yesterday at 186 today, that is not a positive signal, mildly negative. How about oil, always bumbling no thats gold. I willesaid always bumbling around in the mid 50dollar per bound level. 76 as of now. Again, look at apple, news. President trump will to an apple factory with ceo tim cook next week. Thats not confirmed, by the way. Thats a report in reuters i contacted apple and they said no. Texas we know austin, texas is where apple will build there and macbook pro and theyre launching a new one in fixing the keyboard. Stuart im interested in the relationship between the president and the leader of apple, tim cook. I was a tariff are important and thats the main thrust right now getting iphones and ipads may be subject to a 15 tariff in december. Ear pods have been wearables itself has not been impacted since they have grown from 50 in the previous quarter but it is about relationships, trade and bringing jobs back to america, that is the main point of a tour across texas. Stuart susan lee, you are next cyclopedia. Thank you. It appears to me that the news from the fed that they are not going doesnt support cutting rates in the summer. Thats not affected the market, only down 18 on the dow. No surprise given what the chairman will say to congress. Its a positive to have a happen at the open and obviously the market has discounted that again because i dont think there were expectations for a cut, so status quo now. We will see additional comments as they stand ready to take action if necessary in terms of gdp flipping, which i dont see. I dont see any reason for the fed to cut anyway. I think the economy is doing great, consumers are doing great and the markets doing great so why would the fed talk about cutting . I think the market has the upside to go here. There is no impact for impeachment the market is turning around, they are like sloughing it off as if nothing will happen. Stuart thats the headline at 9 30 a. M. Im only down 17. Nike will no longer sell directly to amazon. They dont like the way amazon polices counterfeit goods. Anymore on this claimant as you see that the blow to amazon with shares down 5. Amazon courted nike. They wanted their clothing, their shoes on their site and nike said if you police your site we will give you our stuff and they did it for about two years and they dont like how it panned out. Nikes new strategy is direct to consumer and digital. They want that Retail Experience with the company and they dont trust amazon to do that. Stuart if nike sells a shoe the amazon, amazon takes a piece . Probably. Stuart nike doesnt like that either. It will be interesting to see the Digital Strategy under a new ceo stepping in as mark parker steps down in january so i think its probably the buildup of their own a site going forward. Stuart how do you remember all of these names . I have watched the markets for a long time. You should not act surprised, by the way. Stuart can you remember names at your age . Im just thinking, susan is a next cyclopedia. I would try to, but i couldnt. Stuart next case, facebook launching heres another big story, facebook launching a pay system across facebook messenger, instagram, that sounds like a precursor, i mean, gigantic payment system. Mark Zuckerberg Talks about unifying the messaging platforms including messenger, whats at an instagram, but its time to make money off of this and hes getting into financial payments including stuart all of you youngsters have payment of. On the only one of my friends who doesnt, but this is facebook trying to unify their brand in a way so when there is call to break them up, it looks like they are keeping it together and may be a precursor thats more favorable in traditional banking, libra. Stuart blows me away the gigantic Tech Companies expanding to all kinds of different areas and youve got to follow that flow. With an edge because they have data on consumers and share numbers. Stuart i would have given you the last word, but im out of time. Put him on camera to see his smiling face. Thank you for joining us on a very important day and he synthesized it nicely, no impact on impeachment or what fed chairman powell had to say. Checked the big board, only done 25 points. Started out down 100 and now down 25, 27665. We are about 20 minutes away from the impeachment hearing and i already have fatigue for the whole thing. It will be a big spectacle from the democrats. I do not think it will get the president removed from office, thats my opinion. War on the streets of hong kong as students become freedom fighters, again my opinion to does the us it and watch and do nothing . I will ask former congressman ron paul, what should we do. Disney is king when it comes to animated movies , but netflix has its original animated film, a new Christmas Movie for kids. Of the director is here and we have a first look at it. Peyton, what are we doing here . Brad, welcome to peytonville. Whats this for . Song inspiration. I started in my garage, but nationwide protects so much i had to expand. Nationwide helps protect everything you see in here, brad. Every family, every business, every dream. See mrs. Hoffman . Nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. Oh, they have backstories. Of course they do. Here, i got more to show you. Keep up, now. A little hustle. Stuart i love that music. Build 28 send zero and you get i like that kind of stuff. That was netflix answer to disney animated films called klaus. Im sorry i mispronounced it earlier. Its a klaus in with me now is the director, sergio pablos. Welcome to the program. Thanks for having me. Stuart this is netflix answer to disney. Yes. Stuart is a geared towards real youngsters or Family Entertainment . Definitely family. We aim to please as many as we can. Stuart how long did it take to make a movie like that . All in 90 hours. Stuart why does it take so long well, you spend a good amount of time developing the idea for the film. That takes a while and that took me about a year to have this ready to pitch to people and then you go through the grueling process of pitching it around to see if someone is interested in then you still have to close the deal and finally you get to start making the film which takes forever, so it takes a while. Stuart you went straight to netflix i take it . No, not straight to them. We went everywhere and we actually found making a christmas film was actually not a smart thing to do. So, we were turned down quite a lot by studios who didnt want to compete in the marketplace, but to our surprise netflix was looking for christmas content so we found the perfect niche. Stuart will, i always thought that once you agreed on the script and the screens and the rest of it, screenshots, i thought you just turned on the computer and just did it and it was easy pressing the button. Not like that . Lets make a great film and then you hit enter and it just renders itself; right . Stuart not like that . No. It takes a lot of artist, technicians many to make a film like this but in particular this film we did oldschool. We did it hand drawn, so a lot of work because thats who we are. We love to draw. I got to work on all these things like tarzan stuart this one for klaus you didnt get crayons out and a big white piece of paper. No, we drew digitally on tablets, but we still drew and we painted, so the film is made by lots of people and theres also technicians and many kinds of people but mostly people who love to draw and paint. Stuart there has to be a happy ending. You cant have a Christmas Movie with family viewing unless there is a happy ending. Tell me. You will have to see. Stuart has to be a happy ending happy to satisfy your needs. Stuart this is a financial program. How much did it cost to make the movie . Are you allowed to tell me . I can tell you this, it was significantly less than it would have cost to make a mainstream movie in cgi in the us, but that is as far as i can go. Stuart on out of time swept to take that answer. Sergio pablos, thank you for joining us. Thank you. Stuart check the dow jones, 27 minutes in pretty even split about a third of the dow jones is up about two thirds it down in the dow jones is off 32 points. You know how much i hate robo calls, i get them daily, during the show. Montana senator as part of the push to stop them and hes an hour 11 00 a. M. Hour. I want on assurance that when his bill passes i wont get any more robo calls. Lets see what happens. More varney co. After this aetna takes a total approach to your health and wellness with Medicare Advantage plans designed for the whole you. And monthly premiums starting at 0. Plus hospital, medical and Prescription Drug coverage in one simple plan. And Health Coaching and fitness memberships to help you age actively. So you can be ready for what matters most. Call today. Well send you a 10 visa reward card with no obligation to enroll. Medicare annual enrollment ends december 7th. Stuart minutes away from the start of the impeachment hearings on capitol hill. Lets bring in bruce fein who worked on the clinton impeachment 20 years ago. Bruce, lets get at it. In your opinion, knowing what we know now did trump commit an Impeachable Offense . We dont know all the facts here. Is like asking for a verdict before everything comes out. I do think its rather irregular that you have impeachment within the jurisdiction of the Judiciary Committee handled by the House Intelligence Committee and i think that the effort of Speaker Pelosi to run this through quickly is illconceived to. I remember then nixon impeachment hearings extended over seven months. Impeachment is very bit apolitical as a legal issue and you need to get the American People educated and understand whats going on in the decision. Its not to be rushed to judgment. I think its quite blunder of closing to try to rush this through, get a hasty vote. I think she would hope before christmas and then throw it into the hands of the senate. That is quite irresponsible. Stuart i take your point but if it were dragged out longer i think americans would simply get bored stiff with that, i mean, impeachment fatigue is already setting in and if i have to watch a several lawyers discussing the fine points of who said what to who the people i cant remember what they do and who they are, i think i get bored with that and night tend to say its not worth it. Its not worth putting the country through this nonsense, thats what most people will say, bruce. Thats a judgment that political figures have to make. You need to remember at this time and place the presidency has a different position when the impeachment clause was drafted. That it was really perhaps the least equal branch of the governments and now the presidency, the stakes are so high im not sure i would concur the American People would just get bored and walk away from it. They supported or opposed it, but after all we are talking about a person who has gotten millions of employees under him, 4. 7 trillion the most powerful position in the history of the world and that being the case, the fate of the present typically does attract attention, even may be seems unwarranted, thats just how politics work. Stuart we will have to make a judgment as to whether or not its worth removing a president from office months before an election, president ial election on the basis of a phone call to ukraine, thats not something in which people will get behind, i dont think. That may be true, but the people are sovereign here and i think in my experience is that people walk away from this house is not going to go forward. They are very bit as much a human weathervane stuart i dont mean walk away from it, i mean, pass judgment on it. Rolling on with lawyers discussing the pot fine points of who said what are we cant remember anything about it they will walk away from it and make the democrats pay a price. Thats my position. That could be the case. I was working on the step of the ironic Contract Committee and originally it was going to be two weeks with all of her noise, but after one week they were taking a beating and mr. North and their lawyers decided they would curtail it so Public Opinion will have enormous influence and if you are accurate these hearings may come to a quick conclusion. Stuart bruce, sorry to interrupt. I apologize. We are up against a hard break. Bruce fein, everyone. Thank you for joining us fed chairman powell will testify capitol hill starting at 11 00 a. M. Eastern. Of the president has been critical of his policies. Will he say anything to change that, will he refute the president . Hillary clinton claims many, many, many people are urging her to run in 2020, comes as more democrats considering joining the race in the field should narrow down, but its expanding. Then we had the impeachment hearing beginning in a couple of minutes. We will set the scene and i will tell you why im already sick of it all. My editorial on that, coming up 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. And let me tell you something, rodeo. Shipsticks. Com saves you time and money. 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If the outcome were in doubt, there might be more interest. But they are not in doubt. The president will not be removed from office. Two thirds of the senate will not vote to remove him. They will embarrass the president. I think it backfires. Nothing gets done, no trade deal with mexico and canada, wrote and bridges crumbling. Forget about the infrastructure package. Impeachment stopped everything. Government suspended because the left hates the president. I dont think that flies in Middle America but no stopping it now. Ironic, isnt it . Stock market climbs to record highs, thats a huge win for everyone. Economy expands for jobs for all, low inflation, prosperity. The left has no plan to grow the economy, no idea how to keep prosperity going. All theyve got is impeachment. Try this. George believes it was a quick pro quote. He got it from bill taylor he just presumed there was a quid pro quo well. Her eyes are glazing over already. I want to go to the impeachment hearing, set the scene for us. This hearing is being held in one of the biggest rooms in the capital. Over 300 seats for lawmakers and the general public to see firsthand chairman adam schiff introduced the impeachment inquiry for the first time for the American People. This is a reenactment of what schiff saw behind closed doors. He had picked these women and official george to be the first of the impeachment inquiry. What he saw was compelling enough to bring them here today. Lets let the witnesses lay out what they saw for political reasons. Republicans say the witnesses do not have firsthand information and will go after their credibility. They also have a weapon that they brought over especially for this. Jim jordan, kind of their draft picked defense for republicans. Jordans questionings will get heated. This is happening in one of the coldest rooms in the capital. We expected to get started in a few minutes. Thank you. I do want to add, some viewers will see ten minute Opening Statements from adam schiff, a ten minute opening from kevin. Theyll get ten minutes each. You got a great deal of time with Opening Statements before you get anywhere close to actual questioning. Check the markets, lets see. They are down 14 to 16 points. Im sorry, i dont think impeachment has any influence on this market at all. Clearly not. I thought it was brilliant. I thought we would be bored silly with this. We are just hearing regurgitated testimony. What are investors looking at . Theyre looking at the things trump talked about yesterday. 160 Million People working in the u. S. , the highest number ever. Thats Unemployment Rates from all kinds of groups. All those things leading to extremely strong Consumer Sentiment and spending, we will have a blowup holiday season. Better earnings and all the worries about manufacturing, people have to build inventories i can. We are looking at that and lower Mortgage Rate means we will see housing boom next year. Investors are so indifferent to this impeachment hearing. Ive been reading about whats going on in iowa. Nobody is asking questions of any candidate in iowa about impeachment. And never comes up. This is from the des moines register, its been picked up from a New York Times and los angeles times. Thats pretty telling. In about an hour, he will make his statement before a joint committee. We already know what he will say. No support for december rate cut unless the data changes dramatically. A glowing picture of the economy going forward. I think thats why the dow is up. Thats exactly right. Catching headlines, they are catching all the negative things he said. I think for the last several months, they are talking about recession and now theyre talking about whatever else, impeachment. Anything can drag it down because that is whats driving the economy optimism, wages and job prospects. Thats whats driving the economy. You were there yesterday in the audience, what was the crowds reaction . This is new york. Exactly. This is a town where you speak very carefully to the person next to you about your support for trump. The room was full of people on their feet applauding the president. They have been made rich by this president. I think it was a very respectful audience and i think trump is slightly surprised by that. I will live forever. I avoid them. Lets get back to the impeachment hearing. Its just been gaveled to order. The gavel is in order, off we go. Shes with the term campaign. Mercedes, im kind of feeding you here, ive never seen such contempt for a president in all my life. I think this impeachment is based not on evidence, its contempt and hatred. I absolutely agree. For the democrats, they are emotional about this. They have been talking about impeachment since before the president even got sworn in. I think its a personal hate of President Trump. They know they cant win so what do they do . They are focusing their efforts, energy on this ridiculous impeachment process. We know theres no evidence. The president has been completely transparent in the process and the democrats decided they will set the rules and that includes not allowing republicans to bring in their own witnesses but instead have the democrats and adam schiff control the process and not allow due process. Trump haters will be glued to this. Trump supporters will probably be outraged. What about the people in the middle . How do you think they are going to look at this legalistic long drawn out proposal . Its an unfair process. We are starting off with schiff, democrats made it clear. They want explosive. The first hour. They want to engage the audience. This is about reality tv for the democrats but its completely unfair how they started off the process. They brought in a witness who didnt even have firsthand knowledge. Youre talking about bringing in these individuals, not allowing for questioning by the administration and its just producing what you will see a big political theater. Its not coming in light of the fact that allowing republicans to bring in their own witnesses creates an unfair process. I think for those independents, they have to be very doubtful of a fair process. Knowing President Trump from day one has been transparent in giving out the transcript and talking about the fact that we know ukraine is a very corrupt nation, the third in the world. One of the reasons why he hesitated before giving aid to ukraine. Thank you for joining this morning. Im sure you well be back soon. A different story and something unsettling and unpleasant, real violence in hong kong. There are some here pushing for a vote on a bill to support protesters. Im not interested in that, what i am is absolute breakdown in hong kong. Straight warfare in hong kong believes the society if they had been pushed to the brink of a breakdown. This is the first fourth largest stock market. It runs very well, not any more. This is like a war torn city. This is hong kong, home to multinationals and this is central. You might recognize where this is. This is exactly where all the banks are situated. Teargas in the middle of the day. People are told not to go to work imitating the stock market. People are being kept at home. This is not the right way to govern the city. They are revolting against authority. Thats a big deal. Underway on capitol hill, the committee holding the first hearing in the impeachment inquiry. We are monitoring that for you. We are watching your money. At this moment, but affected by the impeachment inquiry. 11 00 eastern this morning, questions from the joint Economic Committee in the next hour. Well bring you that when that happens. Well be back. You might see the dow turn positive because the impeachment hearings which are ongoing as we speak, no impact on the market at all. 27000. Quick look at apple. The president walked to her the apple factory in texas soon with tim cook. This is the World Largest company. They said this is unconfirmed, no comment but it should happen next week. This is about brandishing apple as an american company. The largest in the world and they are trying to make macbook pros pro. This is probably one of the most expensive. This is important because we do have iphones, ipads which should make up the majority for the Largest Company in the world. If the u. S. China trade truth doesnt come into effect. The china trade talk is what its about. Apple is in the middle. Theyre getting together in texas. We do have air pods already. Theres not an impact so well see if theres more luck in negotiating. Is at. Pro macbook pro . [laughter] pro. Its not macbook pro. [laughter] ive got to go to the impeachment hearings. I will bring in republican from georgia. Our producer has been watching the show. The show on capitol hill. Are we going to get more . You are watching carefully scripted choreography. If you were expecting an earth shattering investigation, you will be disappointed. Its a conclusion of trying to get rid of the president. Ive got a graphic which the republicans will introduce into this hearing later. I think the graphic is very telling. I put it up on the screen. Ninetythree this is a graphic in which the republicans have established. Ninetythree days since adam schiff learned the name of the witness. I want to be can we have that . We dont have it. There we go. Im concerned if this is this is upper graphic the republicans will use. He said im concerned if we dont, he will get reelected. This is an attempt to stop the reelection of donald trump. Im a big fan of the United States. Our article one responsibility to do oversight over article two but thats not what this is. Its part of a coordinated campaign. If we cant get them on this, well get him on that, they say. Weve been careening from one perceived to another, waiting to find something they can stick to the wall. Its getting in the way of serious work like the work we discussed earlier. Like healthcare and drugs prescription. There sidelined in horse, the Intelligence Committees sidelined. Have serious work they ought to be doing and instead they are involved in this charade today. Thank you for joining us. The impeachment hearing underway. We are monitoring it for whats being said. Its a really dramatic one, the Ranking Member of the House Intelligence Committee is there, hes beginning is ten minutes speech. After hes finished, ten minutes from one witness and another ten minutes from another. Well keep you in touch. At 11 00 a. M. , he goes before a joint committee and congress to testify about the economy. You will see a bit of that when the time arrives. We have other news. Google taking some heat, gathering health data on millions of people. They want to get into your bank account as well. Well cover that next. Impeachment hearings have begun and the market is only down 16 points. Impeachment is not having that much effect on the stock markets. Google, and getting into ranking, theyre looking at accumulating health data for millions of people. It will want next year. Its whether or not you can trust google with this information. Apple launched the apple card, facebook getting in with libra and amazon looking at launching its own Checking Account as well. We know apple and google probably wont make a lot of money, they dont even own banking rights. What they want is the data. With 50 attorneys looking at antitrust, can you trust the tech giants with this information and whether or not they might use it for Something Else who might be able to see it . What youre looking at is the gigantic technology companies. Taking over banking. One of those groups, the big banks should look out for Silicon Valley, not each other. Apple tv, streaming wars have become. A former hbo executive added to the staff. Is the former ceo and he helped game of thrones. Its all about the right people in the right place. He starting a Production Company on his own. They started talking and apple making request for him. Thats an at t division, they are talking about bringing back a friends reunion show next spring. I think its a great story. Its a lot of money. If you put these members back together, thats content that will draw eyeballs. Friends is popular. Next case, the market not worried about impeachment, not at all. It may focus more on j powell who testifies at the top of the hour, 11 00 a. M. We know what he will say. Is not supporting a december rate cut. Dow is down 20 points. Big news on mikey, you wont be able to buy them on amazon. They have a good reason and will tell you what that reason is, back in a moment. [laughter] i havent but this is the narcissist one. Ive heard most of them. Neither of you have ever heard of that . Have you ever heard of it . Yes. Thank you. Check the big board. Impeachment has no impact on the market as we speak. They are down ten points. Look at that, that is the direct down 16 , back to 9 a share. I think the earlier this year, 23 a share. Where audit 23, now down to 9. Async busted unicorn. Then we have canada goose. Nine and a half down. Whats going on is hong kong. Thats a drag for canada goose. Nike will no longer sell directly through amazon. Is a Pilot Program launched in 2017. Nike doesnt like it, they were concerned about fake nike goods being sold on amazon. And third party sellers. Nike pulled out its direct consumer right now. Next is facebook, another big historic with potential ramifications all over. They are thinking about, or are they actually going to do it . Launching a pay system to facebook, instagram, whats app. They are integrating all their platforms together. Finance is the next revolution. They cant get libra up and running just yet. Maybe they will eventually but if they can get payments, should big money between friends, kind of like venlo. Lets move on to crypto in the evolution. Now a story about facebook, Payment Exchange system. That is big tech taking over finance, right in the middle of it. Next case is tesla. They were going to open up bigger factor in berlin. They put tesla in three major countries. China and u. S. Now germany. They are not known for electric cars. Is germany supporting electrification . It will be slow but it can be Worldwide Electric auto maker. I bashed elon musk in my time. Maybe i should take it back. I bashed the electric car market. I dont see it being as big as everybody thinks it will be. None the less, tesla stock has been doing very nicely. I think it comes together. We give up our cars, whenever that is, when you do the shared car concept or driverless, you bring in the concept of electrification. Single digits, down five but tesla, if you look at the value of the stock and where its gone, i think its still on par with General Motors and basil may be attempt of the number of cars. They roll out on their production lines but if you really want the general public to buy electric cars, you need subsidies and money to build these stations. Or 10 gas. People will go to electric cars. As long as its 2. 60 gas, they will stick with combustion engines. I agree. It will be combustion. It will be aluminum frames, something lightweight. I prefer to be driven, is that what you are saying . Let me move on here. Impeachment hearing, they started on capitol hill. Republicans spent up in the hearing room. This is from al green, a house member. I am concerned if we dont impeach the president , he will get reelected. The quote of the day, if not the docket. Thats why we are trying to impeach him. So he cant be reelected. Thats not a very good reason. Ninetythree, adam schiff learned the id of the whistleblower. He does, we dont. Toms legal team is going to be here. What are the staff lawyers doing . Jordan, you are on. Thanks for joining us. What are staff lawyers doing here . They are the ones that are going to be asking the questions. Thats what was happening most of the time the hind closed doors in the hearings. You have to staff lawyers, one from democrats, one from republicans i will tell you the republicans, he spent with the Oversight Committee since 2005, he investigated fast and furious. This is somebody a longtime member of the congressional oversight, knows how to ask questions. You got a former u. S. Attorney from the southern district, used to be a tv analyst, i think both sides decided dont want to be responsible when it comes to adam schiff for asking the questions. They want to make it look as if its not them asking the questions, its these other nonpartisan but they are partisan. These are partisan attorneys looking to score shots against each other. This is on television all over. I think people get bored. Theres no way the normal ordinary people are going to watch them current audit over the details of who said what to who. Theres no way this will resume. Weve been told this first hour has to be an explosion for the democrats to convince the people. I see george and his sides, this is a guy who got cut out from ukraine policy way before this phone call. A disgruntled employee at best. A guy who did one other officials about hunter by then. I think be careful what you wish for when you have these hearings, the sham of the president s attorneys, they are not there to crossexamine. The only three witnesses adam schiff granted from republicans after their list of nine are three witnesses that he himself called. They will testify next week. No one who testified this week was even on the phone call. To work republican request. George believes there was a quid pro quo, he got back from bill taylor who got it from morrison and he presumed there was adequate broke well. Thank you for joining us. Good to have you on. Theres a lot going on in d. C. Today. Intelligence committee holding up impeachment hearings. Theres still we are still awake. Trying to stay awake. We will follow this. We know what he will say. Theres not a support on the rate cut. Even so, theyre down dow has turned positive. Google, i talked to a senator who says technology could help lower the cost of healthcare, not find new ways to charge people more. Bill is the man without message. He will join us next hour. Will 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. This piece is talking yeah . So what do you see . I see an unbelievable opportunity. I see bestinclass platforms and education. I see awardwinning service, and a trade desk full of experts, available to answer your toughest questions. And i see it with zero commissions on online trades. I like what youre seeing. Its beautiful, isnt it . Yeah. Td ameritrade now offers zero commissions on online trades. Impeachment hearings, the dow is positive. Now we are up three points. Weve got people on capitol hill trying to get and remove him from opposite. Check the big tech, thats where all the money has been growing. Apple is at 263, about a buck. Alphabet crossed 1300 a share. Amazon 10. Facebook down a fraction. A new high, 14726. Im not laughing. There was the whole think with impeachment from its exactly what we saw and 98 99. Impeachment acquittal. Market at 28 . S p 500, this time around is probably, we have the impeachment inquiry and vote in the house but it might not happen. I will just ignore it, walk away completely. You will see on the left side of your screen. Hillary clinton hinting that she might run again for presidency. Roll out tape. As i say, never say never. I will tell you im under enormous pressure for many people to think about it. In this moment sitting here, that is absolutely not in my plan. But many, many people, bill and chelsea, many, many want her to run again. Take that smile off your face. What you make of this . I dont think shes going to run. I think shes going to jostle a chaotic field. I think its a cry to stay relevant. Its a cry to be part of something she cannot be part of. Her party launched the passerby. Dismiss the clintons. They are not a political dynasty. I dont think the democrats even pay a attention. By the way, she could never be a convention speaker. She will be shunned. There ten democrats who qualified for the debate on november 20. Another six campaigners want to get into that debate. We have eric holder thinking about running. Weve got patrick hes thinking of running. Bloomberg is chunking his hat into the ring. Thats a very crowded and chaotic field. It was chaotic before the announcement of bloomberg and others but its going to get more so. With this impeachment cory in january, you will have six senators taking off the campaign trail and i think thats what the newcomers see. The problem is, the law does not allow these candidates more time because you have to mollify and file papers. We saw that with Mike Bloomberg in alabama. Your behind in joining the race can also legally. It will have to make hard decisions quickly and a problem of raising money and organization. The polls are all over the place. In iowa, shows pete leading the democrat race. The polls are all over the race. The key is to watch for those who start first. Iowa, New Hampshire, South Carolina and New Hampshire. Thats where people get their momentum. If youre not even in the race, its almost impossible to make up that. You will need these people in the general election. If you blew them off in the primary, they will remember it. They will. Except for changing the subject. Busy day on the hill. House Intelligence Committee holding the hearing right now. They are ready to take questions from a joint committee. Weve got this for you and i market that turned around 277 on the dow. Markets stay up 15 points, the dow 277 despite the impeachment hearings which we will show you. We like this guys research. Powell is bullish on the economy. You are saying recession has just gone away. Accurate . Yes, recession fears dropped significantly. If you look at the bloomberg recession, it was 49 likely to have a recession in december last year. Now its only 26 . If you look at the data among ceos and cfos, survey data among ceos from the Conference Board and cfos from duke university, they are pretty negative about 2020 with expectation of deceleration except the u. S. Jobs the market keeps coming along. If you look at consumer confidence, its lower that it spent in the summer however, 19 of americans think the economy will be better in the next six months and 12 think it will be worse. Still not positive when the economy keeps rolling along. You got excellent research, about half of those have a wearable device and half of the devices are fitness devices the fitbit and back. Is this wellness industry taking over . Yes, part of the much wider wellness industry which will eventually be part of a much bigger trend called a quantified self where we track our information on our body and how we operate and our behavior itself. In a way, this is the history of computing. In one era, computing was in a bank, then a room and then it was personal and then at your table and now its in your phone. Pretty soon it will be in your glasses. Its an athletic equipment of most nfl players. The Technology Keeps getting closer to you. Eventually we will have it embedded in us and it will track our most important data. A great new world. Not so sure i like it but i know its coming. Do you wear a device . I do not. I have an old school analog watch. I knew i liked you. Thank you for joining us. Happening in just a few moments, powell will answer questions from a joint Economic Committee. You will see it. Hillary clinton said many, many people want her to run again in 2020. Never say never. She said that. My take on that, coming up. Aetna takes a total approach to health and wellness 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. Medicare annual enrollment ends december 7th. Nice rock. Its time to drop gold. Go digital. Go grayscale. Stuart 11 00 here in new york city, and its a big day for politics and money. Heres where we are at, so to speak. Fed chairman powell, well, hes getting ready to testify on the economy. He said the outlook remains favorable. More importantly, he says, hes not a supporter of a rate cut in december. Hes going to take some questions. When he does, we will bring some of them to you so long as they dont bore us. The other story happening today impeachment. The hearings are underway. The democrats were hoping for an explosive first hour. It has been anything but that. Meanwhile, the market opened lower, now turned positive. Ironic, isnt it . Right in the middle of the impeachment hearing, the first in 20 years, the market sets records and turns higher in the middle of the hearings. Lets get right at it. Elizabeth macdonald joins us for the entire hour. Lucky you, liz. [laughter] first of all, i want your reaction to the fed. The fed chairman is about to say hes not a supporter of a rate cut. He pictures a glowing picture of the economy. What do you say . Elizabeth stuart, how le you been doing this, for more than three decades and so have i . Almost gaining on you. Stuart three for you, four for me. Elizabeth you know what bothers me . A lot of people lost a lot of money listening to people say recession, right in they were saying, oh, the yield curves inverting, this means a recession is coming. Guess what . They were wrong. And now, forgive me, but having been a business journalist for nearly 35 years, i am really sick and tired of the media doing this constantly to people as they see their retirement accounts get frozen in cash because they went running away from the market, running away from the economy. This economy is strong. It is a strong economy. I have not seen an economy perform like this with everything, including the kitchen sink and the oven and the refrigerator thrown at it, from the media. And the fed saying no rate cuts, that means hes bullish on the economy. Its a strong economy. Stuart yep, okay. I want to bring in dallas fed add adviser daniellety mar ten knee booth. The fed chair is about to aches not a supporter of a rate cut in december, and hes got a glowing picture of the economy going forward. Do you agree with both items there . Well, i certainly dont think were going to see a rate cut in december. In fact, the odds have decreased to only 3 for a december 11th rate cut, so the markets are certainly aligned with powells way of thinking. I would like one of the questions after they finish their grandstanding, however, to ask the chairman why do we need 250 billion of growth in the Federal Reserves Balance Sheet when, as you say, the economy is in such a good place, when, as you say, we dont need any more rate cuts . Why do we need this hyperdrive level of stimulus . Ill be surprised if we actually hear that question though, stu. Stuart okay. Hold on a second. Lets see if we get negative Interest Rates. And i is ask that question because the president yesterday in new york said he looked at foreign central banks, especially in europe and japan, and says, look, theyve got negative Interest Rates. We want em too. We want that as well. First of all, let me ask liz here, do you think were going to go to negative rates in the United States . Should we . Elizabeth no, and i dont think we should. I mean, thats a slow growth policy of the dead in the water european way to do it. And i hate to be so pejorative, but it feels like that would be the wrong way to go for the economy. And by the way, the negative Interest Rate paper pile is kind of coming down, slipping to the downward. Stuart it was 19 trillion, now i think its 11 trillion. Danielle, do you think we should or will go to negative Interest Rates . Well, i certainly dont think were going to negative Interest Rates under jay powell. Hes been very public and vocal in saying he does not think we need to be there. If the economy is in a good place, theres absolutely no reason to have crisisera type policies that are running in economies like japan and europe to address a strong economy. It is absolutely a counterintuitive way of approaching an economy, that as we says, in a good place and highly accommodative. Stuart okay. Danielle and liz you stay here, liz. Thanks very much, indeed, danielle. I just want to summarize for a second. Look at this. The dow industrials are now up 8 points. We have a small gain for the s p, i think its a small gain for the nasdaq. But the bottom line is this youre at record highs or near absolute record highs for the Dow Jones Industrial average. When weve got impeachment hearings going on right now in washington d. C. , and moments from now the fed chair is going to say, well, were probably not going to lower rates in december. You would have thought that either of those would bring this market down. Not so. Were up 10 on the dow, and were at record highs elsewhere. What you got, lauren . Lauren lauren well, i was just going to say thats what the democrats are doing, what youre watching on your screen, and i was going to pivot to talking about what other democrats on the campaign trail stuart go ahead, tell me. Lauren the 82yearold founder. Major brokerage started from nothing. He has something to say about Elizabeth Warrens wealth tax plan. It doesnt take into account all the money that rich people go to charity. For him, he has dyslexia, so does his son. He gives money to teaching kids how to deal with it. Alzheimers research. So add charlesing schwab to list of rich people jamie die month and mark cuban who are criticizing Elizabeth Warren for her wealth plan. Stuart just as an aside, ive known Charles Schwab since 1973. I did not know he was dyslexic. I actually made the firstever commercial for charles. Schwab in 1973. Lauren did you . He didnt know it for a while. Stuart liz, what do you make of this . Elizabeth lauren raises a good point, and this is what the American People see, likely are, is that corporations have been vilified and attacked. We know that. But, you know, the u. S. Government creates jobs at the taxpayers expense. Its very simple. And u. S. Corporations happen to be exceedingly generous. Ive been researching it, tens of billions of dollars given by the likes of walmart, jpmorgan chase, the Blue Chip Companies into charities. So what warren and Elizabeth Warren and Bernie Sanders want is centralized u. S. Government everything, around the clock, all the time. Teachers, cops and firemen put into the dmv line for health care. And what they fail to recognize is what the viewers are saying, why arent you debating this . Weve been covering it on your varney spinoff show, the evening edit. Theyre saying whens the 2020 debate for the economy, jobs, wage growth, where is that debate, cnn . Youre not seeing it. Stuart no, youre not. The medias coverage is bad, absolutely bad. Lefthand side of your screen is care lin maloney, beginning her Opening Statement in the questioning of fed chairman powell. When shes done, theyll get to the q a section. Thats when we might join in here to see if weve got any interesting questions for the chair. The first questioner, by the way, i think is it mike lee, senator mike lee . Im not sure who the first questioner is, but theres lots to go. If Something Interesting comes up, well get to it. And wake me up if Something Big happens in the impeachment hearings. So far its been a drag. Check some stops, amd up a fair amount because their new graphics card will be front and center in apples macbook pro. The stock is up nearly 3 , thats adm, advanced microdevices. Apple on that news hitting a series of alltime highs. Theyre now at 263. And there is that report that maybe President Trump goes to a texas apple factory and meets tim cook. If thats the relationship thats being worked on there, thats a plus for the stock, and apple is up to 263. Google, earlier in the week we learned that they were storing the medical records of millions of people on their servers. Shortly, im going to talk to senator bill cassidy about that. He says its not only your privacy you should worry about, but your wallet as well. Thats an interesting angle. Of course, were watching capitol hill, the impeachment hearings, etc. , etc. , etc. Our poor executive producer has the toughest job of the day [laughter] hes got to listen all the way through. [laughter] dear lord, wake me up, please. Also on the hill fed chair powell speaking before the joint Economic Committee. He says no rate cut coming in december, but hes touting the strength of the american consumer. A tale of two hearing, if ever i saw one. Youve got it all here, varney company, keep it there. 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. Stuart i mentioned this just a moment ago, next week reportedly President Trumps going to texas. Hes going to tour the apple factory. I think its in austin. And hes going to be accompanied the ceo of apple, that would be tim cook. E. Mac, this is about the relationships here, isnt it . Elizabeth yeah, it really is. And what a high profile relationship to have with tim cook who, basically, has been most of his manufacturing has been in greater china. So now to have the facility, manufacturing facility for apple in texas that the president will tour, thatll be billboarded. Its the mac pro desktop is made there. Apple has been getting exemptions on these china tariffs. But, you know, chinas got to be sitting up and watching this, because when where apple goes, the suppliers go, right . Stuart yeah. Elizabeth so for the fact this is happening right in the middle of them trying to feel down the interim states on trade deal and the president s saying, you know what, china . If you dont step up, im going ratchet up those tariffs even more. For tim cook to be with the president at a manufacturing facility talking jobs is a big deal. Stuart it is, indeed. Thats good stuff. Now, theres a huge story developing here, several huge stories surrounding big tech. Google has a new project. Its called project nightingale. Theyre going to collect and analyze personal Health Information on literally millions and millions of people. Louisiana senator bill cassidy is with us this morning. Mr. Senator, look, i understand concerns about privacy when big tech gets into my health life, but what about the cost of health care . You think its going up because of these developments . One of the statements in the wall street journal article, because they want to maximize profit because a. I. Will help them decide what additional tests they could order. I think i know that its probably getting benefits from the taxfree status, theyre getting the disproportionate share program, theyre getting 340b financing, i could go down the list. Municipal bonds are taxfree, im thinking. Im not sure, but im thinking, and now theyre going to use a. I. To figure out how to bill medicare even more. This is troubling on many aspects, thats one of them. Stuart nobody else has raised that, senator. Id never even thought about that, but youre quite right. That was in the wall street journal. I can see them ordering up more tests because a. I. Says you need em. Thats your problem here, isnt it . We, the taxpayers, pay for Electronic Health records putting billions out there theoretically to lower the cost of health care. Instead, theyre feeding information to google, and googles going the use a. I. To figure out how to charge the taxpayer more. This is a raw deal. Thats just one reason this is troubling, but that is a big reason. Stuart now, theres part of a trend here of big tech invading other industries. Google is also looking to get into finance. We hear that theyre going to offer Checking Accounts, for heavens sake, and facebook is launching their own Digital Payment platform. You know, senator, it looks like big tech is now invading your wallet, your banking system, your personal finance and taking over. I dont mind if they add value, but that same article that i think i probably read as you speaks that they would allow them to get information to how much you make, your purchasing patterns, etc. So imagine that you are an insurer and you would like to know or what are the risks of this patient group, small employers business, if you will. You could use a. I. To see, oh, my gosh, heres these employers, i know what theyre spending their money on cigarettes, booze and fatty food do we really want to take a risk. And this is what theyre searching on the Google Search engine, diabetes, diabetic neuropathy, hypertension. Were going to create a profile so that the Insurance Companies knows whether or not to take a risk on this group of patients. Technically, it would not be underwriting because youre outsourcing it to google. But google is using all this data theyve accumulated from checking counties accounts, from your search data to create a profile of you and me. Thats troubling. Stuart you ever read 1984 by George Orwell . Because i have several times. I give it to my kids to read. Thats big brother. You just described a horrendous big brother situation. It comes to mind immediately. Now, in fairness, they already have much of this data just by your location data on your telephone. Your location data tells you whether or not youve been to the fast food or whether youve been to the place to work out. Obviously, theyre interested in buying fitbit, thats in the news recently. So you could then feed into somebodys activity level, perhaps how often they fall, are they at risk for parkinsons because their gait has become short and shuffling. We need protection. Stuart yes, and the main character, winston smith, falls in love with brig big brother at the end of the work. Senator cassidy, thanks for joining us, we appreciate it. Thank you. Stuart sure thing. All right. Let me move on and take a look at something completely different, the business of Country Music. [laughter] yeah. We have john rich, Country Music star, successful businessman. Hes later on this hour. Hes on the show. Is he . Is that right . I didnt know. Elizabeth wow. Stuart we want to hear jay powell answer questions on the economy. The top democrat on the Committee Just said he doesnt think wages are rising fast enough. Were all over it, here we go. The world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare, youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then youre still responsible for 20 of the cost. 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Hbo max, theyre going to debut in the spring, whats this about a friends reunion . Well, they charge 15, more than their competitors, so whats the content thats going to make you sign up . A friends reunion. Could they get the rights to the original friends, and you could do more original content, if you will . Folks might tune into that. You have a builtin audience, if you will. Stuart very early this morning, just after 9 00, we started out with impeachment hearings and here comes jay powell, then we spent three minutes talking about the friends reunion lauren because its content that people know, they like, it resonates. Its not this stuff that wins an academy or oscar stuart my daughters love friends. Lauren thats right. Stuart disney plus, they launched yesterday, they had a few glitches. I dont care whats happening with the glitches, i want to know whats the latest on day two. Elizabeth okay. Blockbuster numbers potentially. Heres the deal, if youre a verizon subscriber on the unlimited plan, theyre saying at verizon you can get disney plus free for one year. Theyre now estimating that could mean 17 million households could switch over to disney plus. And im telling you, stuart, when you look att would equal two or threequarters of what netflix has been adding in global growth. And when you consider netflix just went to streaming last decade, disney plus could hit 101 million u. S. Subscribers in just five years. So this is rocketing ahead. Thats about a third of u. S. Households. Americans, rather. Of. Stuart disneys Holding Around 137, 138. Not quite the alltime high. Theyre certainly up there. Let the streaming wars begin. Elizabeth its about the future of disney plus versus netflix and, wow, netflix has got to be thinking, whoa, look at these numbers. [laughter] stuart i would. Hillary clinton, here we go, told bbc radio that many, many, many people want her the run for president. She hasnt totally ruled out a run, by the way. Seems like she cant stay out of the will she wont she spotlight. With a few months til the iowa caucus, i say the field of democrat contenders is flat out chaotic already. My take on that is coming up next. And, of course, were watching everything thats happening on capitol hill. Impeachment hearing still in motion, i should say, and fed chair Jerome Powell, hes still speaking about Interest Rates. The q a is about to begin. But what ive got to say here is look at that market. The dow industrials are up, up, repeat, up. This at a time when impeachment hearings start and the fed chair is being questioned. Lets listen in to carolyn maloney, q a. Here we go. 4. 2 . Measures of underemployment and longterm unemployment also are at a near decade low. Yet the Unemployment Rate for some groups is substantially higher. For example, the black Unemployment Rate while at an historic low is still well above 5 . Is the economy at full employment, or could a tighter labor market draw more people back into the work force . Thank you. So were charged to achieve maximum employment, and when we think about maximum employment, we look at not just unemployment, but also labor force participation, we look at wages, we look at, you know, many, many data points. And i would say that what we have learned and what we will continue to learn is that the u. S. Economy can operate at a much lower level of unemployment than many would have thought. And its probably not surprising that wed be learning that now, because were at levels of unemployment that we havent seen in 50 years. This is the first time that weve had unemployment meaningfully below 4 for 18 months. So were observing this. And were seeing, as you point out, that inflation is actually kind of moving sideways and wages are moving at a healthy clip, but theyre not moving up in a way that would be, that would suggest there are upward price pressures. So i think were very open to the idea, im very open to the idea that we dont know where maximum employment precisely is. We have to have significant humility when we make estimates of that, and weve got to let the data speak to us. And what the data the data are not sending any signal that the labor market is so hot or that inflation is moving up or anything like that. So i think what weve learned is that the current level of unemployment is consistent with a strong labor market, but it is not one that is in any way presenting difficulties. And it has many beneficial side effects including pulling people back into the labor market, including wages moving up for people at the lower end of the wage spectrum. So theres a lot to like about todays labor market, and wed like to see it continue strong, and were using our tools to try to make that happen. As you noted, the economy has added jobs for 109 consecutive months. Unemployment is well below 4 . How much, the annual wage growth is just 3 . And why is wage growth still below what we would expect with a strong labor market . We might have expected wages to move up more this late in a lengthy, lengthy, ongoing expansion particularly with very low unemployment. And there are a number of possible explanations for why that hasnt happened. One is just that productivity has been lower. So wages should, ultimately, equal inflation plus productivity. And thats right about where we are. We have 3 wage growth, that accounts for about 2 inflation and around 1 wage growth. But there are other possibilities. One is just that theres still slack in the labor market. That can be part of the answer. We dont know with any precision. It also may be that the neutral rate of interest is lower than weve thinking and, therefore, our policy is less accommodating than weve been thinking. So i think were letting the data speak to us and, you know, carefully monitoring the situation and trying to get answers to that question. Some have said its the increased concentration in Different Industries giving employers unprecedented power and keeping wages down, does that so i think there are a number of other sort of institutional possible explanations and trend explanations. You could point to automation, you could point to globalization, you could point to concentration among industries where over time u. S. Industries have tended to get more concentrated as the economy has matured. You could also point to lower unionization. So any of those factors can well be playing and probably all are playing some role in this, in this what is a bit of a puzzle why we havent seen more of an uptick in wages. My time has expired. Representative [inaudible] for four minutes. Thank you, madam chairman. And thank you for being here today, chairman powell. I would like to focus my questions today primarily on preparing for the next downturn whether it be three years from now, five years from now, whenever it comes. Historically speaking stuart all right. We were expecting senator mike lee to be asking the questions. I dont know where mike senator lee is. When he asks his question, well certainly get back to him. But i want to tell you that right now the dow industrials have edged to the downside ever so slightly, down 8 points, thats it. And thats while this is going on in congress, and weve got the impeachment hearings as well. So youve got a pretty much dead flat market while all of these potential negatives are going on elsewhere. Thank goodness we have texas congressman, former texasman ron powell with us to liven up the debate. All right, congressman, welcome back. Good to see you, sir. Im almost put to sleep by whats going on on capitol hill, but what do you make of what the fed chair said . I know you dont really approve of the fed, i know that. He says, look, no rate cut in december, and the outlook for the economy is pretty rosy. Go ahead, have at it, sir. Its probably Wishful Thinking because he doesnt know whatll happen. Just remember two months ago when the overnight rate shot up to 10 . So they dont have much control, and they react, and theyre going to try real hard to keep things low, but they dont know where the next bankruptcys coming or the next news is coming. So, yes, they have to talk this way. Thats the purpose of the Federal Reserve Board Chairman to make sure everyones happy, and sometimes thats hard to do in people who want their stocks to go up demand low Interest Rate. And it looks like, you know, thats going to happen forever til it ends. I predict its going to end badly. Stuart probably with you, sir. I want to change the subject completely. In hong kong overnight, there was absolutely dreadful open warfare on the streets. Im sure youve seen it. It was just dreadful. Street fighting in hong kong. Now, i think of you, sir, as an antiinterventionist. You dont want to get involved in whats going on overseas. Should we be doing anything about whats going on in hong kong . Not intervene ising, but what should we be saying . What should we be doing about it . Well, we should be doing what we are doing because, you know, were preparing legislation to punish some leaders in china, and thats all a part of that trade war going on, tit for tat type of thick. So, no, we should that type of thing. So, no, we should be preparing legislation. Thats a difficult problem. To me, its so unnerving to think that hong kong has been destroyed because most of us grew up knowing and thinking about hong kong as being a wonderful place and an outlet for communism. But it didnt work that way, and i dont think theyre going to win this fight with mainland china. And i think its very real. I think theres still a lot of people there that have memory or can read a book and think what it was like to be independent, but thats not very possible. They get their water and electricity and food from mainland china. So they have no weapons other than, i think the, philosophic and argue the case that they have a better system, but they cant win that with xi jinping because hes determined to maintain it, and thats his job. Hes a communist. I dont think stuart i hate to say it like this, but do we just sacrifice those wonderful kids out there on the street and just do nothing . Well, i think we shouldnt aggravate it, and i think when we threaten to do things and put people in prison for no, i dont think so. Why didnt we do anything when they were a ruthless communist system killing millions . Why didnt we do something in russia, in the soviet union when they were killing millions of people . No, its better to stay out of it stuart couldnt we Say Something . Couldnt we just get out there and say we support you guys . We think youre brave young freedom fighters, were with you. Shouldnt we just Say Something like that . I think we should say what i try to say every single day, we support freedom, we support liberty, nonintervention, free markets, property rights, all these wonderful things. But i dont believe in mischief, and weve been involved in regime change too long, too often, you know . Even the thing going on right now in ukraine came about with us participating in regime change. So, yes, were very much involved. This fake concern about russiagate is just preposterous when you think how many times we have been involved in regime change, and i think, i think were instrumental in whats happening there. Theyre very interested for us to start thinking about legislation. Mcconnell preparing legislation. Were very much involved, and were making comment, and i dont think it achieves anything other than the fact its setting a standard telling what we would like to see, what were willing to do. But i dont think we should aggravate the fight. I dont think this should be part of this trade fight we have with china, and i think thats really whats happening. And i feel so badly that hong kong is not the hong kong that i used to reference and Milton Friedman did such a good job in demonstrating how they operate. Stuart what do you think of the impeachment hearings . Well, you know, yesterday i had something, i made a suggestion tongue in cheek, of course, that i looked up a picture of what it looks like in a kangaroo court. And they have kangaroo as a judge and jury and all this. Im like, well, this is pretty funny. Minute out to stand out in front somebody ought to stand out in front of those hearings, come, join us, were having a kangaroo court. No, i think its all fake. I think its horrible. I dont think theyre looking for truth. Its a partisan fight, and its going to go on, but i always am optimistic enough that truth will out in the end. And i think its leaking out on occasion, and i think those who propagated all the lie over the 2016 election and we know there were plenty i think theyre going to be outed. And i think were going to find out whether these hearings do it or not, i think eventually well know. But theres some pretty good republicans there that can handle themselves, but the problem is the kangaroo court. Theyre not going to get a fair hearing, you know in and they cant bring up their people without permission from schiff. So its a mess, and i think people should be talking about why we as americans should not support a kangaroo court. Stuart congressman ron paul, you woke us all up. Thank you so much, sir. [laughter] thank you very much, indeed. Ron paul, youre all right. See you soon, sir. Thank you very much. Ive got a corporate story to talk about. Nike and amazon. Nike will no longer do business with amazon. I think thats a big deal. Why are they saying no . Lauren what other brands follow suit . Is this is bad for amazon, and you see that in stock reaction today. It was a Pilot Program that started in 2017, they didnt that amazon was policing their products the right way, meaning there were some counterfeit products. Nike would rather sell direct to consumer. Thats a better model for them. They have a new ceo coming in who comes from ebay, its all about digital and the experience for the consumer. As i said, what brands see this and say, you know what . We dont need amazon. So this is a blow to amazon today. Stuart okay. That would be powell, right . Okay. Right now fed chair powell is answering questions, at the moment hes answering or about to answer a question on climate change. That has made its way into the Federal Reserve hearing, okay . Well move on. Larry kudlow, well, he teased yesterday that a new middle class tax cut may be on the way as much as, what, 15 . Is that too good to be true . Ill ask congressman Rick Crawford, arkansas republican, is this really going to happen . Much more live from capitol hill, still watching impeachment, of course, still watching Jerome Powell. Anything comes from them, youll see it here first. Keep it on varney. 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. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. Stuart the Country Music awards are tonight in nashville. Jackie deangelis is there for us, and she has a special guest. Go. Reporter indeed, i do. Nice to see you, stuart. I am here with Country Music star john rich. We are at his bar, the redneck riviera. I want to talk to you about how important it is to branch out from your music stardom into other businesses. Youve got the bar, the whiskey line, what was the inspiration . Yeah, i think in the music business its so competitive, you have to constantly be many maneuvering and shifting maneuvering and shifting with the times, and you learn a lot of lessons when you do that. Especially if youve lasted a long time like i have. So i looked at what i did in music and learned all those lessons, and i said, you know, theres other things i could do on top of that, keep challenging myself, exhausting your potential. You know, i think in this country we have this great thing called the american dream, and basically it puts no limits on how big we can think or how hard we can work. And i subscribe to that all day long. And i think thats why our countrys so great. Im one of those guys youre sitting at a bar right now because youre talking to an american dreamer kind of guy. Reporter and you create an experience for people. They can come here, they can eat, they can drink, they can listen to live music, they can feel a little piece of you. Country music fans are very loyal in that sense, right . They are. I think the Country Music fan base are the most loyal. Theyll stick with you their whole life. You know, this bar here, redneck riviera, which is my brand, we focus on our veterans, our active duty, our first responders. Matter of fact, when you walk in the front door right here on broadway in nashville, the main bar is calls the heroes bar. By that, if youre a first responder, vet or active duty, first drinks on the house. Weve actually got security devices that when they come home from deployment, they work right here. I take rot a lot of pride in that. Reporter thats amazing. Restaurant row, if you will, some of your colleagues have got places across the street. [laughter] whats the atmosphere like especially with the Country Music awards tonight . Its more fun per square inch than anywhere in the world. The cmas are on today, ill be playing at redneck riviera, and just a shoutout to all our vetses and active duty, thank you for what you do. Reporter back to you, stuart. Stuart jackie, thank you very much, indeed. Well, shortly President Trumps going to welcome president erdogan of turkey to the white house, around noon eastern. Erdogan has been the subject of some criticism for human rights violations, but that will happen around 12 noon. Now this impeachment hearings started earlier today in the House Intelligence Committee. Arkansas congressman Rick Crawford gave up his seat on that committee temporarily so that jim jordan could sit in on the hearing. Well, congressman Rick Crawford is with us now. Why did you do that, sir . Why give up your seat . Well, look, i joined the committee to focus on intelligence issues, not to join the impeachment fray. And nobody did. This is not the impeachment committee, its the Intelligence Committee. Jim jordan has been a member thats been involved from the get go. In order to maintain the continuity with regard to republican response to impeachment, i thought it would be a good move to allow him to step into that position while i take a temporary leave of absence. I mean, were not doing anything on the committee anyway with regard to intelligence. So its about having the best, most qualified players on the field in order to try and effectively push back. Stuart institute trouble is though the chair, adam schiff, he controls the rules, and he has said jim jordan does not appear until the very, very, very, very end, and hell only get five minutes. So hes trying to upset your plan to get a real professional in there. Thats whats just happened. Well, thats true. And thats just another indication of what a sham process this is. Theres not even anything remotely consistent with previous impeachment proceedings that we saw with president bill clinton is and we saw with president nixon. And so, you know, having jim jordan there, i think, is an important move. Hell get a chance to be the bulldog that he is. But, you know, obviously adam schiff took that as an opportunity to counter and blunt the effects that jim jordan will bring to the table. Stuart one of my colleagues just made a very interesting comment. With nixon it was a breakin. With clinton it was sex. Yeah. Stuart with trump its a phone call to ukraine. You know, im not exactly turned on by these hearings. Are you . No, im not. What governmenters me the bothers me the most about this is these individuals in question all did a dress rehearsal in the closed setting. And adam schiff said, okay, were going to take the best that we have to our, and were going to bring them out to offer, and were going to bring them out into the open. Most of these people, and youll hear it in the testimony, they were not part of the conversation. Were talking about third and fourthhand accounts of a phone call. This is like reo speedwagon, heard it from a friend who heard it from another. Last time i checked, it was the president who sets policy, and its their job to implement. If you dont like it, youre free to resign, you know in you can keep your morals and your integrity intact. But instead what theyre trying to do is operate like true deep state bureaucrats and affect policy on their own terms regardless of what the president says. Stuart my colleague, gregg jarrett, said this earlier on the fox news channel, he said, look, george kent believes there was a quid pro quo. He got that from bill taylor who got it from tim morrison who got it from Gordon Sondland who just presumed there was a quid pro quo. Does that turn you on . Do they expect the Great American middle to follow that intimately in detail and get rile up about impeachment . It doesnt do a thing for me. Look, if they were actually trying to make a case that there was some sort of quid pro quo, i would also point to the fact that the Obama Administration engaged in quid pro quo numerous times in order to affect their foreign policy. And so its notealm of possibility or probability or even normal practice that, you know, the funding, but we expect this or that out of you. It happened in guatemala, it happened in honduras and el salvador, the northern triangle countries that were, you know, look, we want you to play ball with us on immigration. Wed like to support you, but were going to require something for it. Is that what weve become, is just basically a piggybank to the world, were going to give you all this money no questions asked . The i know the Obama Administration did that with iran when they flew in a pallet of cash to give to the mullahs there, but thats typically not sound policy and certainly not what President Trumps been about. Stuart Rick Crawford, republican from arkansas, thank you very much for joining us. Good to be with you. Stuart next case. Hillary clinton told bbc radio that many, many, many people want her to run for president. Shes not totally ruled out a run. Seems like she cant stay out of the will she wont she spotlight. In my opinion, the field of 2020 democratic contenders is flat out chaotic already. Youll hear my take on that next. And look at that market. The s p set a record or close to a record getting close to a record, on track for a record close. And the dow industrials, 27,725. Right in the middle of impeachment. It dont get much better, folks. Heading into retirement you want to follow your passions rather than worry about how to pay for longterm care. Brighthouse smartcare℠ is a hybrid Life Insurance and longterm care product. It protects your family while providing longterm care coverage, should you need it. So you can explore all the Amazing Things ahead. Talk to your advisor about brighthouse smartcare. Brighthouse financial. Build for whats ahead℠ stuart the door is still open for hilly clinton. She told bbc radio that many, many, many people want her to jump into the 2020 race, and she said she has not ruled it out, although it is, quote, absolutely not in my plans. She just cant quit walking away. No. She just cant quite walk away from it all. I misspoke. Thats not surprising since the president ial contest is increasingly chaotic. With just a couple of months to go before the iowa caucuses, the Democrat Field is not narrowing down to a few frontrunners, its expanding. No wonder hillary is tempted. This is not good news for the democrats though. Last week the 52 billion man, Mike Bloomberg, took the first steps for the president ial run. Former Massachusetts Governor Deval Patrick told the ap hes thinking about it. Former attorney general eric holder has spoken with strategists. And then to an already add them to an already crowded field, and youve got a circus. Ten democrats have qualified for the next debate on november 20th, another six are trying to qualify. Thats chaos. And its a money pit too. Think of all those contributions to all those candidates, money that will be spent in a frenzy of primaries and caucuses way before the real contest begins. And with so many candidates, theres no policy consensus. Democrats are not going into the 2020 campaign as a united party. Its dramatically split. Not just two ways, but three or four. So will hillary run . Heres a possibility the other candidates tear themselves apart. By next spring the party is split every which way and intellectually and financially exhausted, and in jumps hillary to save the day. After all, she believes she won the last time around. Lauren, what do you think . If she jumped in late, you know, into the race next year, do you think she could win . Lauren she hasnt offered any crazy ideas, and voters might like that. [laughter] she also hasnt offered any fresh policies, but i think why youre seeing this confusing chaotic field is democrats arent happy with the selection that they have in front of them. So someone has to come in right now like a bloomberg or a clinton who has big money who can not campaign in iowa or New Hampshire and be able to still make a splash and appeal to voters who are looking for something in between an Elizabeth Warren or Bernie Sanders and a mayor pete or Kamala Harris stuart i dont think she wins. Lauren and a biden. Stuart wait a second. That interview was on bbc radio. Liz, what else did she say . Elizabeth well, she was asked why isnt Margaret Thatcher in your new book that you did with your daughter with chelsea on gutsy e women, and she said because she didnt make a positive difference. Stuart what . The definition of a gutsy woman in terms of knocking down barriers for others, trying to make a positive difference stuart what . Elizabeth i think the record is mixed with Margaret Thatcher. Of she said i think were really looking at the changes that really opened doors more. That wasnt that apparent with Margaret Thatcher. Stuart my head is exploding. She was the first female Prime Minister of great britain, and she made the country into a meritocracy. My heads exploding. Elizabeth but thats not gutsy enough for Hillary Clinton, right . Stuart right, right, right. All right. Happening moments from now, turkey s president erdogan will be visiting President Trump at the white house. No doubt syria will be on the agenda. Keep it on fox business for any news from that, and weevil be back. Well be back. I help. Ed. Shes the one the one for you when you know you just know she isnt perfect but shes perfect for you love is rare loves unique love is her love is him love is us the vera wang love collection designed for zales, the diamond store. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Stuart i was iing this would be a whirlwind day on capitol hill. Nothing of the kind. It is kind of a nothing burger, actually. Almost sent me to sleep. I have impeachment fatigue before it starts. We had the feds Jerome Powell. He said he is not on board with another rate cut this december. Bullish on the consumer. Rising wages help the Consumer Spend a whole lot more. I call that fairly bullish on the overall economy . Impeachment process boring, paint drying. There has been no explosive revelations to nye knowledge so far. Maybe that is why the dow industrials are up 35 points. Right now were gaining 34, 27,726 is where we are. Earlier we saw a new record for the s p 500. I believe the nasdaq was real close to a record high as well. You add it all up, what have you got . Impeachment, no rate cut in december from powell, and another stock market rally. Wasnt expecting that. My time is up. Sir, neil cavuto, it is yours. Neil thank you, stuart, very, very much. Were watching same things you have been. Lunch hour on the east coast of the United States. Three big things were watching. Fed chairman Jerome Powell testifying on capitol hill. This is something he does semiannually here. He is laying out a blueprint where things stand with the economy. They stand pretty well. Were monitoring ongoing impeachment hearings, first time in 20 years. No new bombshells enough to rattle the markets. President entertaining turkeys president erdogan
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