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Because of the hong kong elections. Record turnouts sunday, big loss for scombrabeijing. I think its heartening to see the people stand firm. For xi jinping, its a setback. What will he do now . Investors round the world cheered. Its part of our rally on wall street today. No cheering for uber. The authorities in london will not renew ubers license to do business there. Ouch. London was its best European Market. Uber takes the hit because of passenger safety concerns . Gee, i wonder if londons famous black cabs had a hand in this. Ubers stock is down 4 premarket. Seconds from now, frozen 2 big box office, tesla, dare i say a smashing success, and a little blue box, tiffany, now worth 16 billion. Varney company is about to begin. Has elsa seemed weird to you . She seems like elsa. Theres voice. Voice, what does that mean . Head for the cliffs ive got you. Stuart there you have it. Frozen 2 debuted this weekend. 350 Million Worldwide. That was the opening Worldwide Box Office globally, that is. Thats the highest grossing debut ever for any animated film globally. Hold on. Wait a minute. You had tickets and you went. Lauren on opening night. I was not a fan. The packaging was better than the storytelling. I took a 4yearold and we were with three 4yearolds. It was too long. Thats what the mothers and the kids said. It was two hours. Stuart two hours . Lauren it was a dense, dark plot. My thinking is if you had an older child who was maybe 4 when the first frozen came out in 2013, they probably enjoyed this one because they could handle the plot. Im telling you, it was very thick. Stuart we also, i mean, when you look at disney as a company and its revenues, frozen 2 plays a role but so does baby yoda merchandising. I dont see lauren okay, so can i just add one thing about frozen before we go to baby yoda . It will have this weekend, black friday weekend, to make even more money so this is a home run for disney on the big screen and the packaging you will see for toys. The original streaming show is where baby yoda comes from. By friday, so this week, some major retailers might have some baby yoda items in store. [ speaking simultaneously ] lauren theres a lot of disney going around this holiday season. Stuart i dont know why we are advertising for disney. They have enough money to pay for advertising. That was a fine appetizer there. Market watcher scott martin is with us. And frozen 2 watcher. I liked the plot. Youre right, it was a little dark, lot of twists and turns. My daughter who is 8 loved it. Stuart the stock is 148, 149, real close to an alltime record high. You would buy it now . I would probably wait for a pullback but i would definitely own it at some point soon because disney plus will be very successful and i love how they are leveraging the franchises. Frozen and cars and toy story. I mean, they have done a great job leveraging those franchises. They are unstoppable. Stuart good enough to buy the stock now, hold it for the long term, make money over the next three, four, five years, youre in . Yeah. Stuart okay. Dow 30,000 when . Six months. I think whats going to stuart what . Really . I dont think were going to make it in the First Quarter because of the fact we will still have trade deal work out, et cetera. Probably a few slow q1 earnings reports but i think we will have a nice push in the summer. Thats when i go dow 30k. Stuart which puts another 2,000 up from here. S p, a similar gain . Nasdaq, a similar gain . Yeah. You may even see more of a boost out of the nasdaq because of the techheavy companies. Those are obviously big earnings growers. I just feel there is momentum. Stuart not the first time in a long time but we have momentum as we head toward year end. I dont see what upsets the apple cart. No. Throw in a phase one trade deal, you got bigtime upside. Stuart scott, thank you very much. Good seeing you. Escaping chicago. Thats right. The cold. Stuart now, a stunning, and i mean that word, a stunning win for freedom in hong kong. Prodemocracy candidates trounced the probeijing candidates in local elections. 71 turnout. Thats an historic high. And President Trump will sign the hong kong prodemocracy bill. That gives america leverage in trade talks. Thats my position, anyway. Susan, is this a real problem for xi jinping now . Susan the messaging from hong kong is that we are rebuking and revolting against beijing and china. Yeah, i think thats a problem. This is something i have never seen before. In fact, the city has never seen before. Record turnout. We are talking about hours lining up outside these voting centers, 90 of the seats that were up for grabs went to prodemocracy candidates. Thats a clear sign that they are going against the establishment and they are antiestablishment, antigovernment, antichina and two and a half million voters. When was the last time hong kong saw this . Never. Stuart thats live pictures there. So its, what, 10 00 at night. I dont see demonstrations. I dont see tear gas. Susan all right. Basically, it was a reprieve from the protests for this weekend of heading to the ballot box for hong kong. Let democracy run its course. I think the people have spoken. Carrie lam, the embattled chief executive, says i have heard you and i will take a look at what more we can do, but china standing firm. The Foreign Ministry saying that hong kong will always be part of china. Stuart the ball is in xi jinpings court right now. Whats he going to do . Susan what happens when the pressure is racheted up with the signing of the hong kong bill that President Trump has on his desk right now . Stuart do we get a phase one deal first, then the signing . Look susan its very hard. Face matters. Respect matters. Stuart yes, big deal. Big deal. Look at the other huge story of the day. Look at the stock price of uber, down 4 . Its operating license in london will not be renewed. Wait a minute. This is over safety concerns . Ashley yeah. They say not fit and proper to do business in london right now. They say theres a pattern of failures when it comes to safety and security of passengers. Theres been some changes to ubers system in london, they say, this is the london authorities, saying it allows drivers to upload their photos to other drivers accounts. What happens then is that drivers who have not licensed, dont have insurance, continue to drive and those that have had their licenses revoked by uber and by london authorities are still driving. They say there still needs to be more transparency. Uber says rubbish, this is absolutely unfair, they have 21 days to appeal, they will do that. And the companys saying look, we understand we are held to a high bar, as we should be, but this decision is just wrong. Stuart i smell a rat. I smell those wonderfully wellorganized black cabs, london black cabs, fighting uber. Ashley wherever they can. Stuart the mayor of london, hes no fan of American Technology coming into his city. This isnt boris johnson. This is khan and the city of london. I used to live there. Thank you, ash. Thank you, one and all. Check futures, please. We are going up at the opening bell. That is the message this monday morning. Started thanksgiving week. Up across the board. Look at tesla. The stock, it took a dive friday after the unveiling of that cyber truck that went kind of wrong. Now we have heard that elon musk says they have received 200,000 reservations for the new electric pickup truck. It only costs a hundred bucks to put down a reservation, not an order, a reservation. Thats different. But the stock is up 4 . Mike bloomberg running for the presidency. Hes already spending tens of millions on a weeks worth of tv ads. Can he win the democrat nomination . I want some odds. I will ask herman cain. Private equity demonized in the tussle between Singer Taylor Swift and her former record label. Swift won artist of the year, artist of the decade at the American Music awards, and she took a subtle jab at her original record label in the process. Tell you all about it. Varney company just getting started. Limu emu doug hour 36 in the stakeout. As soon as the homeowners arrive, well inform them that Liberty Mutual customizes home insurance, so theyll only pay for what they need. Your turn to keep watch, limu. Wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. 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Well send you a 10 visa reward card with no obligation to enroll. Medicare annual enrollment ends december 7th. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with Td Ameritrade. Stuart this is delicious. Mike bloomberg, yes, he is running for the presidency. Hes already spent tens of millions of dollars on just one weeks worth of tv ads, more than the other candidates combined. Herman cain is with us. Herman ran for the presidency in 2012. Now, i want some odds. What odds will you give on Mike Bloomberg winning the nomination, not the presidency, but the nomination for the democrats . 40 . The reason why is because he will probably paint a policy picture thats more to the liking of normal democrats, because all of the people that are on the fringe left, they are not attracting the mainstream democrats. I give him a 40 chance. Stuart but people who support Elizabeth Warren or Bernie Sanders, they are not going to suddenly turn around and support this multibillionaire, are they . I mean, the delicious part of this is heres a party which hates billionaires, which is going to be taken over by a multibillionaire. I mean, thats ironic, isnt it, at the least . Its very ironic. See, when the presidency is a combination of perception and substance, and the other candidates have already defined the substance of the Democrat Party, socialism, and hes not going to be able to move them very far to a much more common sense approach. He will try but either they will have to be silenced which they are not because they have been trying to outfree and outregulatory each other, he wont be able to move them more closer to what his common sense policies will be. Perceptionwise, he probably will come off very well but his challenge is going to be how does he paint a common sense policy picture versus how all of the other candidates have already defined the Democrat Party. Stuart i personally believe that his entry into the race dramatically splits the Democrat Party, and definitely gives a leg up to President Trump in the general election next year. What do you say . I dont totally agree with you, stuart, and the reason that its going to split it is because those people that support the socialist agenda of all of the other candidates, they are going to move so what mayor bloomberg is going to do is try to appeal to a more common sense partisan position so he will get the mainstream, normal democrats instead of those people who are screaming about all of the free stuff and they are trying to outfree stuff each other. I would agree with you, even if he does get the nomination, it wont just be a billionaire versus a billionaire. It will be a billionaire who has gotten results versus a billionaire who will be making promises. Stuart fascinating, isnt it. I bet you just love following politics and this election. You just love it. Only when im on your show, stuart. Stuart you are having a blast. I know you are. We will leave it at that. 40 chance of bloomberg winning the democrats nomination. Thats pretty good. I would say its about that, too. Herman, thanks very much for being with us. Have a wonderful thanksgiving if we dont see you beforehand. You too, stuart. Stuart see you later. Merger monday. Look at this. Novartis will buy the Medicines Company, going to pay almost 10 billion. The Medicines Company makes cholesterol drugs and that stock is up 22 , as you can see. A big luxury deal to tell you about. The parent of Louis Vuitton buying tiffany for just over 16 billion. This is all about the very strong consumer in the luxury area. People are spending big bucks in the luxury area. Tiffany worth, what, 16. 2 billion. Ebay is going to sell stub hub for 4 billion. Ebay is up on that news. As you heard last week, Charles Schwab is going to buy Td Ameritrade. Its an allcash deal, 26 billion. As we approach this monday morning, looks like Td Ameritrade is up some more at 3 premarket gain. President trump met with executives from the vaping industry friday. They are talking about raising the age to buy vaping products to 21. Look at Phillip Morris and altria which have interests in the vaping business. Overall, its monday morning, thanksgiving week. We are going up. Look at that. 60 for the dow, maybe 8 for the s p, 34 for the nasdaq. Those tech stocks are going to do well today again. Billionaire carl icahn betting big against mall owners. We have a guy who says americans are not yet done with malls and thinks carl icahn will regret his big bet. More varney after this. introducing the Marilyn Monroe collection of fine jewellery. Exclusively at zales, the diamonds are a girls best friend store. Exclusively at zales, its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Im a regular in my neighborhood. Im a regular at my local coffee shop and my local barber shop. When you shop small you help support your community from after School Programs to the arts so become a regular, more regularly. Because for every dollar you spend at a Small Business, an average of 67 cents stays in the community. Join me and American Express on Small Business saturday, november 30th, and see how shopping small adds up. Stuart so much for bad publicity. Reservations for teslas cyber truck, the electric pickup truck, hit 200,000 despite, as you see, the mishap with the window. Happened twice, by the way. Joining us, stock analyst gordon johnson. Gordon, first of all, 200,000 reservations. Thats not a big deal, is it . Its only 100 to get a reservation. Its nothing. We dont think its a big deal. If you think about it, 100 isnt that big. Originally they said they had 400,000 in reservations for the model 3 last quarter. They said all the orders they got for the model 3 were not reservation orders. If you look at the number of total sold model 3s, it was about 200,000. Basically they only filled 50 of the reservations and that number was 1,000 so 100 in multiple instances on social media this weekend of guys ordering five, ten times, we dont think its significant. Stuart doesnt look so rosy when you put it like that. You think the stock is going way, way down, just make your case. Very simple. Tesla has been in business for over a decade. They have generated a cumulative loss, lost money every single year, cumulative loss of over 6 billion. Despite billions of dollars in tax subsidies. Now they are moving their operations over to china. Trump hasnt opined on this yet but they have gotten billions of dollars of taxpayer money, now will hire a bunch of people in china. Its a structurally loss making business. They have no hope, theres no specialty. They buy batteries from panasonic, they dont make them. Other Car Manufacturers are coming in. You have the mache from ford. You have mercedes, you have porsche coming in. And you have the audi and jaguar which are killing them in europe. Sales in u. S. Down significantly. Their growth in q2 was down 7 . This company is trading at a huge multiple and growth is already negative. We think theres big problems ahead. Stuart thats the f150 against the cyber truck in a pulloff. Thats whats on the screen now. Let me sum this up. You think the stock is going to collapse, that it goes to, what, zero . We dont have a zero price target. I think the price target is around 40 to 50. We think thats where the stock is headed. Stuart its at 343 now . It will lose 300 bucks . Think about it. Stuart im not questioning you. I want to pump it up. You are really looking bearish. Effectively if you look at what happened in q3 everybody got excited. They generated 143 million profit. Now, Auto Companies traded eight times earnings. We think that profit they generated is one time in nature. We think they pulled a lot of onetime items in. If you apply eight times multiple to that annualized you are talking about a 35 stock. Trading at typical multiple so the point is we think theres big risks ahead for this company. We think its massively overvalued and we think thats going to really come into play next year, as competition comes in and you see the earnings decline. Stuart you have made yourself very clear there, gordon johnson. Couldnt be more clear than that. Thanks for being on the show. We appreciate it. Come back and see how we go in the future. Thank you. Check futures, please. We are going to go up this monday morning across the board. 60 for the dow, 8 for the s p, 30 for the nasdaq. Well be right back. Does your broker offer more than just free trades . Fidelity has zero commissions for online u. S. 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Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby stuart remember last week, real outrage against adam neumann, who was walking away from wework with over 1 billion while a lot of people, workers, out on the street . Weve got a development. What have we got . Susan hes walking away with more money. They are offering the 3 billion tender offer as far as the rescue package for softbank to keep wework operating. What happens here in this 3 billion tender offer of wework shares is adam neumann gets a sell out of it, so he makes 1 billion here but on top of that, this is what i found stunning, given that 2800 people are losing their job, adam neumann will also get 500 million to repay his loans which, yes, he had a lot of credit against the shares he owned in the company, and 185 million in advisory fees as well. Stuart wheres the money coming from . Softbank . Susan no. They will sell the shares to investors, founders, to employees, although stuart that assumes they will buy them. Susan especially at 19 and change. Thats the selling price. But this is crucial, because you know, we know softbank is investing about 9. 5 billion to rescue wework. They will own 80 at the end of it. This is vital in order to get wework and continue to keep wework up and running because they are in this cash crunch, they will run out of cash basically by the end of this year. Stuart they are the Largest Office Leasing Company in new york city. Susan in manhattan. Correct. Stuart if they go under, so does the Real Estate Market for commercial property in manhattan. That will be an utter disaster. All right. The opening bell, as you can hear, is ringing. They are cheering. This is monday morning, start of thanksgiving week. We are going up right from the opening bell. Here we go. Right from the getgo we are up 50 points. Lot of the dow 30 have not yet opened but we are going up. I see a lot of green over there already. Way more than half of the dow 30 are in the green. They are going up. In the very early going, the dow is up. 25 . Its a rally. Check out the s p 500. Same story. Up even more in percentage terms, getting almost. 33 on the s p. And the nasdaq, thats what i want to see, yeah, look at that, up a half percentage point. 8,500 on the nasdaq. Technologys doing well this morning. Uber lost its license to operate in london. Safety concerns amongst others. That stock is down 2. 5 . 28 a share on uber. Tesla reportedly booking 200 reservations for that electric pickup. Sounds good. Well have a look at that in detail. The stocks up nine bucks now. There were simply blowout numbers for frozen 2 at the box office. A record of 350 Million Worldwide for an animated film. Disneys stock in the early going, 148. 81. Im going to start with disney. Mike murphys here, susan li is here, Ashley Webster back again. Mike, would you buy disney at 148 right now . I would. Stuart you would . Yes. Stuart why . We own some disney stock. Because i think you have so many different ways to make money. So many different levers this company can pull to generate money for shareholders. The theme parks we know, the movies we know, but now the disney plus, stuart, all the downloads out there, and you can say they are losing money for the first few years which is true, but its a land grab. People will be paying disney for the foreseeable future for the right to view their movies. Susan they already control over forth 40 of the box office. Not to mention skywalker will come out next month. I think it will be a record year for disney and obviously disney plus also getting eyeballs as well. Seems a lot of things are going right entertainmentwise for this company. Stuart frozen 2 will bring in a billion dollars. Ashley bigger opening than the original. Stuart isnt that something. Maybe i will see it. Take the grandkids. Susan why not. Ashley come on, stu. Stuart you will pay, did you say . Susan for the popcorn. Stuart thats the biggest cost. Lets get serious. Look at uber, please. I believe the stock is still down. Safety concerns about its london operation feernor passengers, t is, and they have not renewed their license to do business. You going to stay owning it . Im going to stay owning it. This isnt great news for them but its not out of left field. This has been going on for over a year. They plan on appealing. They are allowed to appeal. Heres the thing. There are other companies, competition coming into the london market to go against uber, so i think when all is said and done, theres going to be one, the tlc of london will have one set of rules that will apply to all these companies. They will increase their safety. But uber will be doing business in london. Susan makes you wonder if they are specifically targeting uber in particular. We know the first license suspension was back in 2017, then the advance and reprieve, now they have 21 days to fight this, which uber says they will appeal. We know london is the largest European Market for uber. They say maybe 2 to 3 of gross rides come from the city. Not a huge business globally since they operate in so many countries and cities. Stuart im still interested in buying it because all these negatives have come out, the lockup periods over, wash out all the problems and im looking what i think is the bottom of the stock. They had a big announcement late last week. I think this is a pullback that gives people an opportunity to buy the stock. I own it higher than here but i think if you are looking longterm its a great buying point. Stuart i want to be in this brand new industry. Do it. Stuart i wouldnt mind getting into something new. You think i should do that . Yes. Ashley you have been asking that question for a year now. Stuart i know. Maybe i will do it. Big luxury deal. The parent of Louis Vuitton buying tiffany for, what, 16 billion. This is all about the strength of the consumer buying Luxury Products worldwide, i think. Susan thats right. The turnaround happened in 2017 because for awhile, they were experiencing falling sales, falling revenue, since 2015. It was a struggle for the 100yearold new yorkbased jewelers. They have been around since 1837. Whats important in this is that they have lifted the bid price. Originally it was 120 a share. Lvmh had to pony up more, 135 in stock and cash. For lvmh or Louis Vuitton, for them its about adding a brand new luxury brand into their portfolio which is already expanding and the chinese luxury buyer as well. Stuart are you mocking my french accent . Susan i love it. Ashley if she doesnt, i will. Susan je ne sais quoi. Stuart there you are. Walmart, target, amazon. Youre telling me, mike murphy, they are the big winners this holiday selling season, right . They are. The consumer is strong, the consumer is going to spend money and those are three stores or online sites where people will spend a lot of money this holiday season. Stuart the money has already been made. Walmart is already at 120. Amazon is 1762. Should i buy at these highs . I dont think you should. They will have to have blowout holiday seasons. The point there is that people, you will see good numbers from these three retailers, in my opinion. Stuart its just a reflection of the consumer . Of the consumer. Yes. Because remember, over the last few weeks, you have heard people say well, is the consumer going to crack, is the china trade deal going to impact the consumer. I think the u. S. Consumer is very healthy and it will be a very strong holiday season. Stuart i will show you the big picture. As we are doing that, producer, can you ready a stock price for me on peloton . I am going to talk about peloton momentarily. Susan out of nowhere. Stuart out of nowhere. You are oneupping me today. Up 86 points on the dow industrials, a little shy of 28,000. Now, couple more stocks to go at. Boeings chief of commercial airplanes left the company. Now their Top Communications executive, leaving the company. No real impact on the stock. Its down 80 cents. Thats it. The tenyear treasury yield about where it was last friday. Not much of an indicator there for the economy. 1. 76 . But look at bitcoin. 7,158. It had dropped below 7,000 earlier, struggled back to 7,100. Gold, not much move except down. 1462 per ounce. Oil still around the mid 50 a barrel. Been there forever. Two names really got to talk about, apple and microsoft. Both of them in record territory, both are huge market leaders. Okay. Pull them together, susan. Tell me, how big are these two . Susan the combined market cap is 2. 3 trillion between apple and microsoft. Microsoft has rallied 47 this year, apple has rallied 66 . Combined, they are two times bigger than the s p Energy Sector. This is giant, like exxonmobil, and this is, these are companies that are just so huge. Also, its the combined entity of apple and microsoft thats bigger than the russell 2000. Stuart you add the value of microsoft to the value of apple and together they are bigger than the russell 2000 . Although they are smaller companies, they are worth more . Susan yes. Also bigger than the 197 Smallest Companies listed on the s p 500 as well. These are giants that have helped lift, by the way, the dow past 28,000. A lot of money has rotated into these names. As you see, they actually dwarf now amazon, alphabet and the other rest of the tech giants. Stuart total market dominance. Absolutely. Stuart completely. If you look, you talked about tesla earlier that has a multiple thats through the roof. You look at these companies, apple trading in the low 20s price earnings multiple and microsoft right around 30. So you could argue that they are still investable at these prices. Stuart i dont know whether we got peloton ready or not. I want to talk peloton because my daughter got one, loves it, explained all the advantages to me and there it is. 30 a share. Ashley she convinced you . Stuart im not going to get one. She convinced me its a serious product. Susan did you get on one . Stuart of course not. Heres one of the big things. Its recurring revenue every month. Your daughter went out, spent 2,000 for this bike. Now, every month they will charge her credit card roughly 40. People arent stopping that. They are continuing that service because they want they dont want to say they dont have a good purchase. That recurring revenue gets a higher multiple by wall street. Its a good investment. Stuart wait a second. Wait a second. You use this exercise bike at home. Susan yes. Stuart in your house. You dont have to drive some place or walk some place. Susan exactly. Stuart you do it when you wish to do it. Three guys appeared and put it together, installed it on time in the right place and walked away. They were doing 12 installations that day. Susan yes. You should get one. The next push for peloton will be into the apparel business and add on to the bikes, they already have treadmills. John foley, the ceo, he has his sights set on bigger things. Susan we have been talking about peloton for awhile, describing it to stu but he only grasps it when you see the physical bike. Retention has been great, 90 that buy it actually stay on it. I will say this, im sure you get this all the time with other businesses, there are other players getting in as well. Technogym and other bike builders and exercise machines. Peloton has the firsttomarket. They are going to people who have the bike are also moving into the treadmill. I think theres a lot of upside for them. Susan 2,000. Stuart 2500 out the door because you have to buy shoes. You have to point out, you do not have to pay them 2500. They will do interestfree financing similar to what apple will do. You can just make a Monthly Payment on it and it will show up at your door. Stuart now he tells me. Thank you, thats great. 9 40. Thank you very much. Check that big board. We are up 94 points. There you have it. 93 points. We will take it. 27,969. We are officially in the holiday season. That means its time for elf on the shelf. This is a true american Success Story and an original idea that became not only a tradition but a phenomenon. It really did. We talk to the lady who started it all in our next hour. We are talking to a veteran who credits a marijuana Cultivation Program for his recovery from ptsd. He says the Program Saved his life. He will tell us about it. Hes a weed warrior. Hes in the 10 00 hour. Another e. Coli outbreak, romaine lettuce from california recalled in more than a dozen states right before thanksgiving. We are on it. More after this. We made usaa insurance for members like kate. A former army medic, made of the flexibility to handle whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill available at. Aewith 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. The last year of my life has had some of the most amazing times and just the hardest things ive gone through in my life, im lucky to be here. I know that every step of the way. Thank you so much. Stuart a very big night for taylor swift at the American Music awards. She took home artist of the year, artist of the decade and she took a shot at the music producer, Scooter Braun, over music rights. Former bain partner ed connerd is with us today. Look, what taylor swift is having a go at and Elizabeth Warren is private equity. They are saying look, you guys, that would be you, bain capital owns warner music, i believe, you walk in, you borrow a ton of money, you saddle this company with a ton of debt, then you walk away with your fees and they go bellyup. Explain yourself. I wish it was that easy. Stuart i know. I know. Go ahead. I do think if you can find companies where you can cut the costs and strip the assets and turn them around, that fast, and the management of those companies has done a terrible job managing them. Anybody who owns a business, every investor, Small Business owner, knows how difficult it really is to make money as an investor. You have to serve customers more effectively than competitors and you have to do that every day. It requires caring for your employees. It requires caring for your customers, requires investing in a business. If you are very very good at that, you can eke out and make some money as an investor. Competitors are very good at it too and a lot of value gets passed to the customer. Stuart is private equity, is private equity responsible for taking away taylor swifts rights to her original music . No, thats ridiculous. Well, remember, the Music Industry is a lot like the Venture Capital industry. You have to invest in thousands of failures to get one success. So dont think for a second that taylor swift and her family werent celebrating when she signed a record deal like every other musician who has signed is lucky enough to have signed a record deal. Then one of those, she becomes very very successful. She had many opportunities along the way to buy back her rights to her music. She turned it down and she bought only the rights to her music a year from now. Then she wanted to use her music sooner than that. Remember, shes worth 400 million. This guy bought the rights to her and many other artists for about 300 million so she had plenty of money to buy back her rights which she chose not to do. She tried to do a different deal and then tried to change the terms of the deal. Stuart is this like what happened with tom petty . I dont know whether you remember that. Tom petty lost the rights to his original music, then he fought and fought and fought and said no, i will not back down, no backing down. I think he eventually won. I dont know how he won, but he did. I dont know the details of that. Stuart you dont know tom petty . The great tom petty . He died. I do remember that. I listened to his music when i was younger. Same thing happened i think with prince, remember when he was a sign. He was also having an intellectual property battle with warner music, i believe the owner of his music rights. When these people have no money, they want to have somebody invest in their career in order to be a star, it takes a lot of money, lot of management, and they eagerly sell the rights to their music when they dont when the rights dont have any value. You have to buy thousands and thousands of those to get one star. You invest a lot of money in the ones who are being successful. When they finally break out they dont think about the thousands of failures that you also invested in. They just say geez, im producing a lot more value to you than you are for me. Yeah, because you are the one in a thousand that got lucky. Stuart remember brian epstein, managed the beatles . I dont remember him, but yes, i know who he is. Stuart took 25 of all their Gross Revenue right off the top. 25 . You turned them into the beatles, too, by the way. Not like they didnt create value, too. Stuart game, set and match. Thank you very much, sir. All right. Romaine lettuce from salinas, california linked to another e. Coli outbreak. Grady trimble, you have got the details. Go ahead. Reporter stuart, two outbreaks last year tied to romaine, now this, just in time for the thanksgiving holiday. The fda recalled or called for the recall over the weekend and several stores have pulled the product from their shelves, including walmart, target, sams club, aldi and many others. This is affecting many states. 16, to be specific. 40 people have reportedly gotten sick. 28 of them had to go to the hospital because of e. Coli tied to romaine. We are specifically talking about romaine as you said from the salinas region. Thats listed on the bag. The cdc and fda say look at the bag before you buy it, look at the growing region. If there is no growing region, dont take any chances. Throw it out. Its important to note we are talking about all types of romaine including hearts of romaine, whole head lettuce, mixes and salad kits as well. Stuart we have been warned. Grady trimble, thank you very much indeed, sir. Check out that market. The dow 30 looks solidly in the green right now, its a good start to a monday morning. We are up almost 100 points. Billionaire carl icahn betting against shopping malls and mall owners. He thinks they are failing and wont recover. We have a guest who says americans are not done with malls yet. He thinks carl icahn is going to regret his big bet. More varney after this. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. introducing the Marilyn Monroe collection of fine jewellery. Exclusively at zales, the diamonds are a girls best friend store. 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 with tums smoothies. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. Thats it. Im calling kohler about their walkin bath. [ sigh ] not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call. For a free kohler® nightlight toilet seat with inhome quote or visit kohlerwalkinbath. Com for more info. Stuart its a hundred point rally for the dow, nice rally for the s p, same for the fas d nasdaq. It just hit an all new record high. Its a rally. Carl icahn has placed a big bet against mall owners that they are going to sink. Joining us now, jay scott peele, commercial real estate kind of guy who thinks that all is not lost for the american mall. No, not at all. It depends on the market that they serve, it depends on the category that they serve. Luxurys doing great. Stuart wait. They divide malls into three classes, class a, upscale places, you say they will be okay . They will be fine. Stuart but the b and the c . They are not . They are a product of overdevelopment and you know, its the synergistic retailers, the ones that rely on foot traffic or impulse buys that are really hurting because they dont know how to get their brands the exposure. Think Yankee Candle or even tvana, who couldnt succeed because they needed foot traffic. Stuart icahn is betting against the b and c level malls. The 2012 debt was underwritten with entirely different models and where he thinks its going to pay off largely likely is because they are under water, upside down. They borrowed too much because they were highly valued then, and on the takeout they wont. Now, if they can perform for a couple more years, they will service the debt but are they going to find a new home for it . Probably not. Stuart so he could probably win that bet against the b and the c i think hes got a good shot at winning. Remember that that only represents 3 of the overall mall portfolio in the u. S. Its not a huge short. Stuart but if i say luxury malls, thats the wrong way to put it. The type a, the class a malls, upscale malls you deal with luxury, the luxury stuart are they doing real well . They used to be on this trajectory up, more and more foot traffic all the time, they were doing fantastic. Surely thats not the case today. Well, what happens is so theres 9,000 closures this year. Thats been hugely publicized. We just came back from a private equity event that we hosted, 150 people investing all over the place. Retail has largely been undervalued and revalued over the last five years. But theres a lot of other categories that havent. So up at 9,000 closures this year, 3,000 of them represented by two brands, Payless Shoe Source and gap. Right . So its the cheap stuff thats not making it but the luxury brands, Louis Vuitton, guicci, prada, are doing great. Stuart i cant explain that. Well, i can. Its a great economy. Growing income, low unemployment and folks are stepping up. You arent buying bargains, you are buying exclusiveity. They are also making the buy online instore purchase transition work quite well. You know, we are bullish on retail because its been revalued. We are concerned about what happens in say the industrial category if President Trump doesnt get reelected because those assets have seen a fouryear run they havent seen before. Stuart you are behind trumps reelection. 100 . Keep it coming. Stuart now he tells me. Thanks for joining us. Always appreciate it. Now, there is going to be a glut of houses for sale when baby boomers finally are ready to offload the family home. Problem is, who is going to buy them . Millenials dont seem that keen. Good story. We are on it. Bloomberg is officially in the president ial race. I find that ironic. The party that hates billionaires and wants to tax them to death is being taken over by a multibillionaire. I dont think democrats like this. You will have my take on the bloomberg phenomenon next. 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Other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. Discover the option thats best for you. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Youve probably been investing in your home for years. Making monthly mortgage payments. Doing the right thing. And its become your familys heart and soul. Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart Mike Bloomberg is officially in the president ial race. Ironic isnt it . The party that hates billionaires has been taken over by a multibillionaire. Okay, he hasnt quite taken over, yet but a man with a fortune of more than 50 billion, who has just spend more on political ads than all the other candidates combined is going to make a big impact. I dont know whether a 77yearold arent at this gun new yorker can win the democratic nomination or the president ial election but he has taken a buzzsaw to the party and split it right down the middle and i dont think that is good for democrats. It is open war for warren and sanders. They built their campaign against billionaires. Bernie complains he should not be allow to buy elections but money talks in politics. Joe biden cant be happy. Joe okay piling the center. His campaign is lackluster, he is not raising much money. Overnight the bloomberg is taking over the middle ground. His strategy is unusual. But it is very smart. He is entering the campaign late and let the competitors tear each other apart, put in money and jump into super tuesday on march. California and 14 other states hold primary votes on just that day. Bloombergs billions will have enormous impact. Consider this, there may be an impeachment trial in the senate around that time, spring of next year. Senators, warren, sanders, klobuchar, booker, harris, they cant be on the campaign trail. They have to be in d. C. Passing judgment at the trial on the president. It is hard to believe that democrats welcome this. I cant see the supporters of warren and sanders suddenly jumping ship for the 50 billiondollar man. I cant see rural moderates getting behind a candidate who has no time for guns. I cant see southerners or midwesterners supporting a climate warrior. Bloomberg not only splits the party, throws it into even more chaos. That means, no matter who leads the democrats next year the Party Remains at war with itself. Bloomberg has opened the door to a trump win in 2020. Thats my opinion. The second hour of Varney Company is about to begin. Stuart you heard what i had to say about bloombergs entry into the contest. Lets bring in market watcher, jeff zika. He is a great business guy. So are you. Would you vote for him . Here is the juxtaposition of having a candidate like him in the antiamerican dream, antimonetary success, democratic party. I think it is ironic. I think it is the theater of the absurd that he is in the race to begin with. If i were forcessed, kidnapped and forced to vote for a democrat i would certainly vote for bloomberg because he has done some good things throughout the years and he has a business mindset but keep in mind, he is up against some real nerdowells who will destroy the country. So there is a very low bar when it comes to this. Stuart so you would vote for him . I would vote for him in extreme circumstance where i had no choice. Stuart excellent. I wanted to get that out of the way before we proceeded there. I want to check the market. Were doing very well. The dow is up over 100 points. We have the dow up, cant quite see it there, up 120 points. Look at that, s p, nasdaq, s p and nasdaq both hit all time, intraday highs, okay . Lets get this straight. This is one huge rally. Want to take a second to talk about a big deal in the luxury area. The parent of lou Louis Vuitton buying tiffey, paying more than 16 billion for it. Jackie deangelis at the new york stock exchange. This is a signal that the luxury area is really, really strong, isnt it . Good morning, stuart. Thats right. Lvmh thinks so. It is trying to expand the portfolio of already highend products including tiffany into it. 135 a share is the transaction price. Tiffany shares up 7 . You can see behind me. Tiffany is a brand that actually struggled. It has been a little wobbly. The sales are stronger abroad, also in china. Here in the United States it needs a little work. So the thought from investors that lvmh will get in there, help tiffany regain the footing. One of the Flagship Stores of course is here in new york city. Stuart yes it is. Right there on fifth avenue. I know it rather well, actually. I want to bring in jeff sica, what do you say about luxury brands. They are doing very well, arent they . This is a company run by bernard arnault, the third largest, third richest man in the world. Lvmh is the king of luxury. Tiffany was struggling as jackie see. They are having a tough time with chinese tourism that would buy jewelry. They made a good decision partnering with lvmh. They are going with the younger crowd that does buy tiffany. Theyre going against rosemont, which owns cartier which is the ultrahighend. This will be a showdown in luxury brands. This will be interesting to see if it unfolds. The fact that they dominate beauty, they dominate, fashion, this puts them in another position of superiority. Stuart in a Strong Economy, the consumeer spending that is nice position to be in. Absolutely. Stuart the other side of the game, walmart, target, amazon, were in the middle of it, this buying season i think those three companies will do particularly well. The other retailers, all the 14,000 retailers, stores that closed their pain has been the gain of walmart, target and tj maxx and amazon because now you have consumers who dont have as much choice, who are now going to the big retailers, who are adaptable. They have won the law of attrition. They have come out ahead and they do, they do a lot for the consumer. And the consumer now is in a very fragile position. Keep in mind the consumer now is more overleveraged than they were in 2018. So the Consumer Needs to get the bargains in order to keep spending. Stuart i just want to take time out to look at two gigantic winners. Hold on a second, jeff. When i say big winners, i mean huge winners. Talking now about apple and microsoft. Earlier today, susan gave us some extraordinary stats. If you combine apple and microsoft, the value of those two companies, what are they, theyre bigger than 2,000 companies, russell . Susan russell 2000. Bigger than the s p 500 Energy Sector which includes exxonmobil. Which used to be the Largest Company in the United States and in the world, remember. Chevron also s p 500 Energy Sector as well, bigger, combined entities, bigger than 197 Smallest Companies on s p 500. Theyre looking 2. 3 trillion in market cap. If you think about it, that is extraordinary with microsoft up 47 on the year. Apple up 66 . Stuart hold on everybody. We got a president ial tweet on the stock market. I will read it for you. Another new stock market record. Enjoy. I think many of our viewers are. Move on to this, i guess you could score one for the greenies, i dont agree with that. The harvard yale game, interrupted by climate protesters. I will not score one for the greenies, certainly not. I think it detracts from them. Cabot phillips with campus reform. I dont think that is a win for the greenies. I think that is miserable loss. What do you say . I want you to bring up the fact that protesting on the football field not the football pitch. Certainly not a win for the climate protesters. At one point 43 protesters were arrested charged with misdemeanor counts. That is good deterrent from keeping things happening in the future. As far as the pr battle go it certainly wasnt a win for protesters. A lot of reasonable americans say what can we do on Climate Change. Be look at it. Be analytical. Have compromise. When they see crazy protesters shutting down a game, they say wait a second i dont want to be on the same side as those people. That is driving people away from the cause. Cause of activism should bring people in. Hopefully the fact there were arrests, if you show people, you play stupid games, you win stupid prizes and the prize is misdemeanor. Stuart i would like to see the time when climate activists demands live the green life, live the climate life. Not expressing it correctly. Greta thornburg, came to the united nations. She lived the environmentalist life. She is not going to fly. She will not do this, not do that, she is a vegan, whatever. When will we see more people be like that, be real about it . Well only see it when people feel social pressure to live that way. Weve seen it leadership institutes of campus reform. We interview student. Do you support the green new deal. Of course i do. Would you be willing to live by all the ramifications in it, all these things, well, that is a little extreme. Maybe i dont want to do that. They need to remind people when they actually do. This they demanded universities divest from any fossil fuel investments. That is what they say they want universities to do. These shifts towards extreme ive type of protests it is happening because of rhetoric are getting. When youre average 18yearold student hear from people like aoc or media the world will literally end in 12 years you will take extreme actions that rhetoric idea that this alarmist idea that the world will literally end. It causes people to do crazy students. Stuart cabot phillips, youre right. See you soon. By the way Legendary College football coach lou holtz joins us later in the show. I wonder what he says about the yale harvard game interrupted like that, over an hour. You heard my editorial at top of the hour on bloomberg. Bloomberg news will not do any investigative pieces on Michael Bloomberg but they will keep on investigating President Trump. Media watcher howard kurtz joins us later to discuss precisely that. More homes for sale signs on homes owned by baby boomers. The journal reports by 2037, 1 4 of Housing Stock will be vacated by seniors. So who is going to buy them. Were all over it. What a story. It is the holiday season, it is time for elf on the shelf. Anyone with younger children knows the power of elf on the shelf. The owner of elf on the shelf joins us next. chime shaq magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill available at. 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. Aetto yours a health and wellness with Medicare Advantage plans designed for the whole you body, mind and spirit. That means aetna is helping you get ready to be the best grandmother the world has ever known. With Medicare Advantage plans that come with monthly premiums starting at 0. Plus hospital, medical and Prescription Drug coverage in one simple plan. And wide Provider Networks including doctors and hospitals you know and trust. Plus a limit on your outofpocket medical costs. And Health Coaching and fitness memberships to help you age actively. So you can be ready for what matters most. Aetna Medicare Advantage plans call today. Well send you a 10 visa reward card with no obligation to enroll. Or visit us online at aetnamedicare. Com tv. Stuart it is a rally and the rally continues. Were up half a percentage point. That is 141 points for the dow, back above 28,000. New highs for the s p. New highs for nasdaq. Yearend rally. Here it is. Uber, the Ride Share Company says it is aware of an issue that is preventing riders getting online on its app. The stock is down a fraction. A problem with the london market t was down 4 . Now it got this app problem. It is only down 19 cents coming back. Reservations for the tesla cyber truck hit 200,000. That is reservations. Only takes 100 bucks to put down a reservation despite the mishap with the window. Wait a second, ashley, they have a explanation for the window smash . Ashley how embarrassing to show off the cyber truck and how tough it is the windows, the armor glass. What happened when it was on stage, there you go, oops. I think it is hilarious. Apparently elon musk said what went wrong, used a sledgehammer on door first, which cracked base of the window. If they had thrown steel balls first at the window and slag hemmerred afterwards it wouldnt have been an issue. That is the explanation today. Stuart that was the best piece of publicity he had in very long time. Ashley youre right. Were talking about it. Susan sledgehammer first and throw the steel metal balls. Ashley because the bottom of the glass was cracked after the sledgehammering. Susan come on, i dont know that i buy that. Stuart that is incredible. This is american Success Story, anyone who has little ones knows power of elf on the shelf. The special elf friend who travels from the north pole to childrens homes. We have the with us the cofounder of the company that makes the it. She is here. Thanks for coming back to the show. Thanks for having me. Stuart you started off with this, that is highly original idea for a christmas toy. Can i call it a real toy . This is real elf watches during the day, reports to santa at night. We played a big part with the book. I wrote the book with our mom. We couldnt get anyone to publish it. We published it ourselves. Then there are 90 people that work year under. Stuart started elf on the shelf in 2005 . 2005. This is 14 years. Stuart i ask a typical financial question. How many have you sold . We have sold over 13 million elf on the shelf products. We have elf pets which all do a job for santa as well. One of our top questions we got from kids. We sold over 2 million of those as well. Stuart ideal for 3, 4, 5, maybe six years old. Am i stretching it there . What is it . Not at all. We tell people all the time youre never too old or too young for tradition. Stuart of course you do. Our target market shockingly is a sevenyear old. Anything from around two to about 11 are true believers. Stuart you cant touch them. You cannot. They will lose their christmas magic. Do not touch the elf. Stuart but you do, they are moved. They move themselves. They fly. Once you give your elf a name the story tells you that is how they get their christmas magic and come to life. They have been hibernating in the box. During the day they watch, report to santa in the night. In the morning before kids wake up they come back from to the north pole and land in a different spot in your elves. Stuart children give the elf names. That is part of the fun. Second someone finds out what i do, my sister, my mom, anyone that works for our country, you instantly get camera, photographs and the elfs name. That is what it means to family. Stuart it is enormous one last one. Yes. Stuart the uk in britain, it has taken off there. It has. We love our friend in the uk. Independent research recently came out that said 32 of kids in the uk would choose elf on the shelf over any other thing at christmastime. Stuart thats genius. Thats absolute genius. You came up with that, developed it all the way through the years. Brilliant, absolutely brilliant. Hats off. Thank you. Stuart come see us next year. I would love to. Stuart good to see you again. Holiday shopping period is upon us. It is underway and up next we have a guy who says target is the huge winner. He says they are ahead when it comes to store experiences. Im told that shop something all about the experience. Personally i cant stand it. That is another story entirely. Well be back. [laughter]. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. introducing the Marilyn Monroe collection of fine jewellery. Exclusively at zales, the diamonds are a girls best friend store. Ugh, another electronic signature. You have to print, walk, sign, scan, recycle, walk, email yourself. Really . More walking, try again, waiting, recycle, walk, email yourself, then get back to your day. Or not. This isnt working. Introducing samsung paperless workflow solutions. With the galaxy tab s6, you can sign Digital Documents onscreen, with a finger or your s pen. Samsung business solutions. With a finger or your s pen. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. Here, it all starts withello hi . How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Stuart that rally is holding. For the benefit of our radio listeners. Were up 140 points. That is exactly half a percentage point. Basically we have got record highs s p 500 and the nasdaq as well. Good stuff. We have development or comment i should say on usmca. Mexicos president has just said, yeah, he is optimistic that this trade deal, america mexico canada, will be approved soon in the United States. Thats a plus for the market. Were up 142 now. 28,000. Target, apparel we hear doing especially well for that company. I want to bring in target analyst Max Mcclintock with raymond james. That is kind of a raw statement, apparel doing real well for target. Tell me how well it is doing, and why . Target reported greater than 10 comp in the apparel business. Put that in perspective, target is one of the largest apparel retailers in the United States today, third or fourth largest, in 10 comp, target took more market share, grew faster than any other retail apparel in the United States today, including walmart, tj maxx, any other guys that you dont hear about target. Stuart theyre selling more and more clothing items and competition is not meeting that Strong Demand . Theyre not seeing that strong sales . Im mixing this up. How good is this . Targets apparel business is how good . Lets put this in perspective. I have never in my career, 15 covering target never seen more than a 10 comp at target, right . Look at rest of the apparelly industry there is only one apparent retailer doing doubledigit growth right now, that is lululemon. Think about the size of lululemon and size of target, for target to be talked about the in light of lululemon, that is phenomenal. Stuart what about the experience in the going into the target store what is different . A couple of things. The only retailer is spending more more money remodeling retail stores. Every other retailer said weve got to be digital. Target spending billions of dollars making the store nicer. When you walk in the target store in target is better than a dressing room in a macys. Presentation of the target, they have mannequins, shop in shops, apparel asorted looks like a kohls, adjacent jays, like a macys. When a customer walks into the store they see this new experience, right . They see product. They see levis for the first time at target. That used to be a macys brand. They see that lower price, better experience than macys, why would i shop at macys again . Stuart the stock is 120 odd dollars a share . About 125. Stuart you see it go to 150 . We think it 150 is the number. Stuart very interesting. Max mcclintock, thanks for showing you. Thank you. Stuart, it is official. Michael bloomberg former mayor of new york city is in the race. He owns Bloomberg News. They said they will not do investigative pieces on him but will do investigative pieces on President Trump. Media watcher howard kurtz discusses that next. Great riches will find you when Liberty Mutual customizes your Car Insurance, so you only pay for what you need. Wow. Thanks, zoltar. How can i ever repay you . Maybe you could free zoltar . Thanks, lady. Taxi only pay for what you need. Liberty. Liberty. Liberty. 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Discover the option thats best for you. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Youve probably been investing in your home for years. Making monthly mortgage payments. Doing the right thing. And its become your familys heart and soul. Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart dr. Robert. Now what does dr. Robert prescribe to his patients we ask . Ashley well leave it to the imagination. Stuart this is early 1960s, sports fans. Leave it to the imagination. Never heard this song before . Susan i havent. But sounds like a dr. Feelgood prescription i imagine, right . Makes you feel good. Ashley imagination. Stuart that is a good one. I think that is successful song in the morning. Look at uber please. Theyre down, but not much. Their london operating license is not been renewed. Now it is only down a tiny fraction. What is going on . Ashley transport for london which issued two prior suspensions on uber by they have overcome. This is big one. They claim theyre not operating in a fit and proper way. There is pattern of failures that does not protect passengers. In particularly, 14,000 rides at least, according to tfl, made by drivers who were not the drivers that were supposed to pick up the fare or they were either i imposters if you like, uninsured an unlicensed and, uber they say has been warned about this. Theyre not doing enough, taking enough measures. It will be appealed. They have 21 days to do that. They will appeal. Some of the numbers, how many, 3 1 2 million riders in london. 45,000 licensed drivers in london. That is a lot of people. Stuart could call a halt to the whole lot. Susan not a lot to ubers global business. Ashley biggest in europe. Susan 3 of booked rides. Will it hurt a little bit . Yes. But not a big hit. Ashley a lot of people in london say they cant afford the black cabs. Theyre more expensive. Stuart check the big board. Why dont we do that. Were up 145 points, back above 28,000. Yes it is a monday morning thanksgiving week rally. Quickly this one, tmobile, sprint, settled with the Texas Attorney general. They will withdraw from the state antitrust lawsuit. The agses office says that agreement will have it. Mobile commit to build a 5g network throughout texas in six years. Who cares. Dont look now, bitcoin falling to a 6month low, 7200. That is dead money. I wouldnt touch it with a 10foot pole. Ashley this is a crackdown on cryptocurrency operations in china. This is the reaction to this. The peoples bank of china telling businesses involved in cryptocurrencies to quote, correct any improper actions. Ask investors to be wary of virtual currencies. That is not good news for bitcoin. Certainly the largest in this space. It finished last year, i think 6374. It doubled in price since the end of last year. Still remains very volatile. To say the least this might be a buying opportunity for those who believe in it. Susan got to 13,000 on the back of leeb a, this introduction of the Facebook Cryptocurrency but china helped rally bitcoin prices last month as well. Stuart im not interested. Ashley where did libra go . Stuart give me peloton or uber over a bitcoin, for heavens sake. I think i will do well. Will you ride peloton . Stuart a voice would love to see you on one of those. Ashley wouldnt we all. Wearing spandex. Ashley no, no. [buzzer] can we go to the break while we recover from that . Stuart i agree with the buzzer on that one. Mike bloomberg is in the race. He owns Bloomberg News a giant news operation. Bloomberg news will not do any investigative pieces on bloomberg but they will continue to investigate President Trump. Howard kurtz, host of media buzz with us now. Is that legit, lay off bloomberg the candidate but still go after mr. Trump . Stuart, this is a giant punt that went sailing out of bounds. Bloomberg news always had oddly hands off approach to the boss. He was mayor of new york city for 12 years of course. To say that, okay well cover the campaign and anything that Mike Bloomberg says as a candidate, well not investigator particularly scrutinize him. Then well not investigator scrutinize or other Democratic Candidates he is running against. That is unfair. But it is okay to do investigations against President Trump is a maude dell. Doesnt make anybody happy. Stuart it is entirely understandable, bloomberg is in the race entirely to get rid of President Trump in the oval office. That is what he is there for. He will not quit investigating him if he thinks he will dig up stuff that will help him get in the oval office. That chips away at credible of Bloomberg News and very fine journalists and reporters seen there having one hand tied behind their backs. Bloomberg is first person to run a News Organization of magnitude. This comes up all the time. Washington post has to report on jeff bezos, and cnn has to report on at t. This happens anytime you have to report on the bus. Bloomberg is essentially shutting down the opinion section, will not accept anything about the president ial campaign while the two top editors of Bloomberg Opinion will work for mikes campaign. I dont think this is a good compromise even though i can see what theyre trying to do. Stuart could i ask you for a second to take your media buzz hat off and put on a political hat . I hope you dont mind me asking that. Of course. Stuart i see a smile on your face. No, lets go. Stuart i think bloombergs entry into this race has completely split an already split Democrat Party. And i dont see how you get over this chaos. Well i think the impact his impact has been overstated particularly by the new york media who know and maybe like Mike Bloomberg. He did have a very good job as new york mayor. Possibly that biden could fall and bloomberg could steal some of those voters. He used to be a republican. He just apologized for his stopandfrisk Police Policies in new york. I dont think even if he spend as gazillion dollars that he will be a significant factor in the case. Stuart well watch very careful. More carefully than Bloomberg News. Stuart nicely said. Tied it back together, howard. That was brilliant. Howard, see you soon. Thank you. Stuart a wave of homes for sale hitting the housing market, a scale we havent seen since the housing bubble in the mid 2,000s. I want to bring in kristina partsinevelos. Am i right this is homes sold by baby boomers like myself. There is nobody there to buy them because millenials are not interested. Is that the story . Dont jump to the conclusion that there is nobody interested. There is more of a weave. You can blame it on easy credit or too many new homes. Unfortunately because baby boomers are going to be passing. Stuart dying. Dying. Trying to be nice bit. Stuart you talk about me. I am a baby boomer. Those born between 1946 and 1964. Youre letting everybody know youre in that demographic. Unfortunately according to zillow. They put out a report. Right now four out of every 10 homes in the United States is owned by somebody 60 plus. Five out of every 10 homes, owned by somebody 55 plus. All of homes, 27 of the entire supply will hit the market in the next 20 years or so so the big question is who is going to buy it . Why you brought up millenials. That is whole another report and story because millenials are not buying homes as often. There are several factors. They are starting lives later. Dont have as much money. Debt. Living in metropolitan cities. Stuart i think they will work out of that understand the virtues of homeownership. Why this could work out very perfectly. Millenials are not buying right now, im elder millenial, fall into the category, move in 20 years or so. Areas most effected are retirement homes. Ones in florida. A few in arizona. Least affected will be vibrant, more affordable cities at the moment seem to be dallas, houston, atlanta fall into that category. Stuart let me ask you a personal question. Please go. Im an open book. Stuart no youre not. Are you soured on the whole idea of buying a home at some point in your future . No. I want to but right now, i dont think it is feasible. I look in new york city. Looking at home prices being alone trying to buy a property right now. Stuart i suggest you dont buy a property in new york city. You will be alone. You have to pay a fortune. Exactly. Exactly. Stuart i recommend florida. But dont leave the show, okay . Report from florida for us. Maybe i will buy your home in the near future. Do you have a retirement home there . Stuart home there. Not necessarily a retirement home. I do have one there. You really are in dangerous ground. Says on the prompter, kristina, thank you. All right. Bye. Stuart that time of the year. Oh, the secret santa parties . Is that, yes it is. But check this out. Oh, 26 of millenials say it gives them anxiety. Oh, gives you anxiety, that is pathetic. What is the line . Explain this to me, susan. Susan read the prompter, okay . Read the prompter. Job site found 26 of millenials actually had to dip into their savings and overdrafting accounts to fund an office exist. 17 said they felt judged by coworkers when they opened the gift. 78 felt they had to contribute more than they actually should to the office secret santa. One in three millenials want this banned because too much anxiety. Stuart oh, please. Susan youre over spending. Are you buying the right thing. Stuart speak. I will not be buying you a Christmas Present this year. Stuart really . Ashley too much pressure. Too much pressure. Ashley for the man who has everything. Stuart may i call for an end, call for an end to the lunatic surveys which are utterly meaningless . Can we do that . Susan just for millenials, santa surveys or what . Stuart this just sands sounds ridiculous. Susan no this is serious. Anxiety, mental wellbeing. Stuart move this along. Official bloomberg in the 2020 race. Weve been covering this all morning. Next hour well have his pollster, his pollster, doug schoen on the show. I put it to him, Middle America wont stand for bloomberg, what does he have to say about that . A headline says support for trump hardening increasing. Later this hour i will ask new york congressman tom reed, any members, gop people, any gop, Republican People at all will vote for impeachment . Dying to see what he says. Well be joined by a businessman who started a organization that pushes marijuana cultivation as a type of therapy for veterans. Well be joined by one veteran who says the Program Saved his life, thc, real marijuana. Thats next. Driverless cars, 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. At fidelity youll pay no commission thlook at all this ink no more bit comes with. Es. Big ink tanks. Lots of ink. No more cartridges. Incredible amount of ink. The epson ecotank. Just fill and chill. Stuart big board still show as very nice gain. Up nearly 150 point on the dow, 28,022. Now the Supreme Court declined to review the case of adnan sayed. His murder conviction was focus of a popular serial. Ashley Supreme Court will not review the case, murder conviction. It has been in the news because of the podcast. Supreme court said he was accused strangling to death a classmate he dated. A 17yearold and accused of burying her body in a baltimore park. There were issues during the podcast they should have another look at the case. Supreme court says no. Stuart so his conviction stands . Ashley yes. Stuart got it. Now this. New England Veterans Alliance usa, got it a Veterans Support Group that embraces marijuana. They believe veterans growing their own weed can be therapeutic. I have the founder of the group with me to tell his story. I have retired army veteran sean riordan here. Sean is the gentleman on right in blue. I think i have got that right. You tell me please, sean, marijuana, real marijuana, the stuff that gets you high, you say that saved your life . Tell me. Yes, absolutely. My experience coming home from the military has been very difficult. Ive gone through a lot of therapy and pharmaceuticals and i just find the best relief that i get is from can that is b it gives me a sense of community in the comradery and just, overall genuinely improves my life on a daily basis. Stuart derek, let me turn to you. Youre running a group which uses the cultivation of marijuana, real marijuana, thc stuff, as being therapeutic to veterans of the have you got a business going with this . Its a nonprofit. It is not a business at the moment but something that we would like to work towards in the future where we can get veterans cultivating and providing jobs and moving them into the industry. The nonprofit focuses on communitybased organization of other veterans supporting each other through alternative means of, mostly through cannabis but cannabis is the catalyst that really gets us out of a isolated state and brings us out of our houses, our homes, take us to a new position where we come in and we try to link veterans to a whole new meaning of life, giving them a purpose by helping them find access to other alternatives such as like carpentry, automotive, photography. So we want to link them to things that they will enjoy and something, things that they will find a purpose in. Stuart shaun, let me get back to shaun for a second. Real thc, stuff gets you high helped you. Could you not get the same effect from cbd . I tend to use both and i feel like i have different benefits from both. You know, obviously a lot of people have their own opinions how things affect them. I just know in my own experience i have literally went at treatment every which way possible. I have taken every suggestion given to me by, you know very smart people and you know, i just find that in my experience cannabis, thc, and cbd all just really helps alleviate a lot of my ptsd symptoms, especially, you know with the insomnia, things like that. Stuart for the benefit of our viewers, would you tell us, shawn, how often do you use thc . Do you smoke it, vape it, how do you do it . I do all of the above and its asneeded basis. You know what i mean . Kind of depending how im feeling that day. How my night was the night before. You know, maybe if i had nightmares or night terrors the night before or, you know, if im getting hyper vigilant in another situation, all depends which way i want to medicate, how long i want it to last, what effect i want it to have on me for any particular reason. Stuart shawn, derek, thank you for coming on the show. We spent a lot of our time talking about cbd. Were very interested talking about the other side of the marijuana coin. You did it thor us. We appreciate that. Thank you for joining us. We appreciate it. Great, thank you. Stuart as weve been telling you all morning, Mike Bloomberg has thrown his hat into the 2020 ring officially. In our next hour i will talk to bloombergs pollster, doug schoen. I will ask him, how will bloomberg get Middle Americas vote . Good question. Apple expected to deliver 60 million of the new airpods this calendar year . Thats huge. Next hour well talk to apple watcher gene munster about that. He says the stock is going to 350 a share. Mark that number. Next, new headline in the Washington Post. Support for trump in the impeachment inquiry is hardening. That is support for trump. Next i ask gop congressman, tom reed. Will any gop member in congress jump ship and vote for impeachment . Well see how rock solid the gop is. The im a regular in my neighborhood. Im a regular at my local coffee shop and my local barber shop. When you shop small you help support your community from after School Programs to the arts so become a regular, more regularly. Because for every dollar you spend at a Small Business, an average of 67 cents stays in the community. Join me and American Express on Small Business saturday, november 30th, and see how shopping small adds up. Yourethats why at aetna,sing what matters. Were committed to taking care of the whole you. With Medicare Advantage plans that offer Health Coaching and fitness memberships. Plus hospital, medical and Prescription Drug coverage in one simple plan. With monthly plan premiums starting at 0. Aetna Medicare Advantage plans call today to learn more and well send you a 10 visa reward card with no obligation to enroll. Medicare annual enrollment ends december 7th. Stuart check out this headline. Bear in mine it is from the Washington Post, a trumphating organization. Here it says, trumps gop support hardens despite damning impeachment testimony. Bear that in mind, Washington Post. Gop congressman tom reed joins us now, republican, new york state. Look at the house for a second, house of representatives. Do you know of any republican which will now vote for the impeachment of the president . Stuart, what im hearing is no. I dont see the movement in any way on the republican side. The movement i am picking up on is i see democratic members that are coming out potentially against impeachment in the private conversations ive been having. I would keep an eye out there. I think what theyre recognizing, stuart, impeachment is a historic event. To remove a dulyelected president of the United States for the first time in our history, you better have clear and convincing evidence that i dont see here. Many of my colleagues agree is not here. Stuart after all the hearings i dont see many people really convinced he has just got to go. On the basis of that phone call, he has got to be taken out out f the oval office. I dont see it. How about the gnat side, any Senate Members waivering there, at all, republican members . Im not picking up on it. Obviously i think many of them are waiting to see what happens with the trial that goes over to the senate but i think, most of them see it exactly as we see it. You know, when you talk about impeachment, you turn your back on the american people, you know we in d. C. Know better, so well remove a dulyelected president , that is a very dangerous slope to go down. I just think most of the people in america, people in the middle havent made up their mind one way or the other, leave the election up to us as the american people. Maybe you should focus in Congress Focusing getting things done impact peoples lives in a positive way like the u. S. Mexico canada trade agreement. Stuart in Washington Post, impeachment is moving towards trump, benefiting him. Thank you for being with us. Happy thanksgiving, stuart. Stuart same to you. Well be back after this. 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They pinned their hopes on a recession and the more voters ignore the climate issue, the more they pile on the climate scare. Its the desperation of people who have lost touch with everyday america. They should get out more. They should look at the 127 million that frozen 2 brought in just this weekend. They should look at the 60 million airpods that apple will sell this year, many of them 249 a pop. They should look at the sales gains of the big retailers, walmart and target. The stunning performance of amazon as it heads to the online selling season to end all online selling seasons. These are just small examples of the everyday impact of prosperity. The democrats expect us to ignore all of this, ignore full employment, rising wages, cheap gas, low mortgage rates. The americanmade streaming revolution, et cetera, et cetera. Ignore it all and just impeach him. Ignore it all and vote for economycrushing tax hikes and the fantasy land that economics of the green new deal. What a miserable and negative view of america. Quit the whining and worrying. Its thanksgiving week. We are prosperous again. Time to celebrate, yes, celebrate a unique american holiday. The third hour of Varney Company is about to begin. Stuart you know, i think im losing my touch. I failed to inspire my Company People here. They are just rubbing their eyes and yawning after that, a rant like that. How could you . How will Charles Payne react, i want to know . Host of making money with Charles Payne. Come on, the economy, we are in prosperity. Charles we are in prosperity. I agree 1,000 but its probably worse than what you just read there, though. That was just, i was going through some data this weekend and a piece came out in the Consumer Sentiment report. We got to make charts of this because its hard to explain. They look at all these different presidencies and we asked how is the economy doing, the difference between republicans and democrats. Obviously when a republican is in office, the republicans feel better. The gulf has never been like this, though, ever in the history of this country. It is mindboggling. Stuart between what . Charles between perceptions, you say Consumer Sentiment, Consumer Sentiment, this amount of republicans say its great, this amount of democrats say its bad. Its never been this way. Its mindboggling. If this goes beyond common sense, it goes beyond it goes beyond rational thinking. Ive got a job, i just got a raise but the economy sucks. The gulf has never, i mean, to the point where you wonder if we were ever, if it was ever a little bit better, where we could be as a country because we all know to a degree, economic success is selffulfilling. Its hard to do extraordinarily well if you dont believe you are going to do extraordinarily well. Stuart the consumer, that vast bulk of people, they are the ones who are doing particularly well. They are the ones who are leading. Charles thats the irony. In reality, these same folks who say its not doing well, did get a raise, do have a good job and did buy a new house or new car. They are participating in the economy but they are saying its not going well enough. Maybe the things they may have to do to really help move the need needle, theyre not going to do. Its a scary time. Stuart look at this purchase of tiffany by lvmh. 16 billion. I can see some people turning around saying the rich are doing just fine, the luxury folks are doing just fine, what about us, what about us. Charles the difference, though, january 2016, Louis Vuitton stock was 145 a share. Its 400 a share. In just that short amount of time. Thats not just rich folks. I go into louis stores. I go in there. I see people who are shopping in there. These are the same people that will tell a surveyor that the economy sucks. Everyones got i dont know a single woman that ever put back a louis bag. If you go back 15, 12 years ago, it was about having a coach bag. A few years after that, it was a kors bag. Now everyone believes a vuitton bag is attainable. If youve got a job, i dont know that we have ever been at the height of materialism and celebrityism we are right now and also, the belief you should own it right now. Many people believe they should own it right now and are going out and buying it. Stuart fascinating. You really do your homework. Charles i really do. Stuart now then, weve got an oped in the Washington Post and it talks about overworking, the more you work, the more you are connected to your job and actually, the more you work, the more connected you are, the more money you make. So is that legit, you think . Charles i think workaholics are extraordinarily successful and i think a lot of them are not driven by money, though. I think, you know, because some of this you could juxtapose against data that more people are working two jobs for economic reasons, the gig economy, but i think a lot of workaholics want to be super achievers and the extra money that you make comes along with it, but you know, as a workaholic, i went ten years without a vacation. I didnt even notice it. I did not notice it until my family demanded we go on a vacation. I was like i didnt even know. Stuart you enjoy it . Charles the vacation . Stuart yes. Charles i missed the job. Vacations are cute but they end. Thats the part i dont like. What do you mean, we got to get back in line and get on the plane, oh, golly. I should have stayed home the first time. Stuart charles, i will be watching you at 2 00 this afternoon. Lets never forget that. Making money. Charles payne. Apple and microsoft, we cover those two stocks a lot for good reason. Both companies are worth more than 1 trillion. Their Financial Performance is just outpaced the rest of the market. We have put apple and microsoft together whand what have we got . Ashley market value of more than 2. 3 trillion. They literally tower over much of the market. How much . Wall street journal puts some numbers together that says apple and microsoft together are twice, twice as large as the entire energy group of the s p 500. Stuart good lord. Ashley another number for you. Combined, bigger than the market size of all the companies in the russell 2000. Stuart so those two are worth more than 2,000 . Ashley correct. So they have a huge impact on the market moves. I think apple is up 66 this year, 47 for microsoft. Pretty darned impressive. Stuart it sure is. We are very happy. Good stuff. Thank you. Uber. It was down 3 , 4 . Now its down just a fraction, 26 cents. Its license to operate in london was not renewed. A little later on the program we have luke ventures gene munster talking about the stock price in light of whats going on over there. Hes also going to cover tesla for us. That stock is up four bucks today. Theyve got they took in 200,000 reservations for that new electric truck. We will discuss that as well. Michael bloomberg, billionaire, yeah, running for the presidency. I say hes throwing a Monkey Wrench into the Democrat Party. How will Middle America react to his position on guns or Climate Change . We will ask doug schoen in just a moment. Quick look at capitol hill. Impeachment proceedings have a break this week, its thanksgiving. I say its just frankly exhausting. Some independent voters are feeling pretty much the same way. I will get pete hegseths reaction as well. This is the third hour of Varney Company just rolling on. I recently spoke to a group of students about being a scientist at 3m. I wanted them to know that innovation is not just about that one aha moment. 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Has elsa seemed weird to you . She seems like elsa. Theres boyce. What does that mean . Head for the cliffs ive got you. Stuart it really was a huge weekend for disney. Frozen 2 came out, made a ton of money. What was it . 127 million . Deirdre 127 million domestic only, recordbreaking global, though. I want to underline this number. 350 Million Worldwide launch. That broke records for a cartoon. Im sure theres more elevated term. But disney is meant to do well with this. This is not even counting, of course, thanksgiving when a lot of people will have family and a lot of people friday, saturday will want to take their kids or grandkids to see something kind of fun. Stuart im looking towards christmas, new year, the holiday season. Looks like disneys got a firm lock on it because what is it, this baby yoda stuff is coming out . Deirdre they are going to have toys, i mean, this list is long but amazon, target, kohls, macys, hot topic, box lunch, bunch of other ones we dont know, will have this gear, this baby yoda gear. There are already two tee shirts on amazon if you want to buy them now. Essentially this is where disney makes so much of their money from merchandising. You watch on the big screen, you are watching streaming on your phone or tablet, wearing the gear, giving toys, they are covering a lost differet of dif parts of the consumer. Stuart thats why the stock is close the a record high. Thank you, deirdre. A new poll shows independent voter support for impeachment actually declining. 45 wanted to impeach and get him out of office in october. Its 42 now. Not a big difference but its moving in a certain direction. Look whos here. Fox Friends Weekend host pete hegseth. I think this impeachment stuff is getting old. I dont think they made their case to get him out of office. It was supposed to go up and supposed to go up quickly. They held the gavel and tv cameras and it went down instead. Okay. Think about the mueller thing, the mueller report. They wrote the book, the book wasnt very good, so they tried the movie with bob mueller. In testimony. And the movie was worse, right . In this case, they didnt even take the time to write the book. They just went straight to the movie. Turns out they didnt have the plot all figured out and once the movie unfolded before the american people, they said well, this sounds like a debate about Ukrainian Foreign policy which might be good for the Foreign Affairs subcommittee but you are trying to impeach a president. Doesnt add up to me based on hearsay. You cant you look at the 2020 democrats, you look at numbers like this, this is really bad news for them. Stuart talk about hong kong, because they held a dramatic election sunday. The prodemocracy people won hands down. Seems to me that puts xi jinping, the chinese leader, in a real corner here but gives leverage to President Trump. The reason this is absolutely it does. The reason why this is so significant, xi jinping cannot allow protesters like this to succeed in hong kong. Its precarious for his grip on china. So these protesters sustaining it the way they have, winning an election, what a demonstration of freedom. God bless these folks going out there, doing this. Its amazing. But ultimately youre right. If hes tenuous there, it gives trump more opportunities to leverage what he wants in this trade deal. Stuart i just wanted to get it in, the tide is turning on impeachment, i think its turning towards the president and in terms of hong kong, china and china trade, i think its turning towards President Trump. Our economy keeps booming, as you report so well here. Which strengthens his hand even more. Stuart by the way, hegseth, bitcoin at a sixmonth low just the other day, dropped below 7,000 a share. Do you think i should buy some . Actually, while you were talking, i just bought more right now. Stuart did you . I did. Stuart why . Why . The reason its going down is the reason i love it. Part of the reason its going down, first, a Strong Economy so people are investing in the stock market. Second, china Just Announced its cracking down on crypto transactions and currencies which is precisely why i love cryptocurrency. Its meant to transcend powerful governments who want to put their thumb on people, who want to operate and transact more freely across the globe. Its still up year to date 85 so its still got massive upside if you invested like i did at the beginning of this year. You cant write it off. Stuart whenever you use my first name, i know im in trouble. Forgive me. Stuart youre forgiven. Youre all right. Come see us any time. Thank you, sir. The former facebook employee credited with playing a big role in President Trumps 2016 win is switching sides, going to the other side. Ashley he is. 28yearold, his name is james barnes. He was imbedded with the Trump Campaign in 2016. He was singled out by the Trump Administration at that point, they called him an mvp saying he just did a tremendous job in how to get at targeted to particular groups ahead of the election. Well, as a result of that experience, hes left facebook, was a registered republican, has become a registered democrat and is now working for a Progressive Company on the other side of the equation. What this really does, this whole story is very interesting. Basically how facebook had an impact in 2016 in many different ways and how can they not become and be used by malicious entities in 2020. Because spending online which social media platforms is going to be the battleground. Close to 3 billion will be spent alone. So the question is, how do you make sure that the integrity is maintained by not putting in false and misleading information. Stuart very difficult. The spending is 3 billion, it puts facebook at 200 a share. If they dont change their business model, stock goes up. Ebay have announced they are selling stub hub. The market kind of likes it, its up 1 . Fed ex expecting a record cybermonday. They plan to ship more than 33 million packages on monday alone. The stocks up, 159 is the price on fed ex. Mcdonalds, they are settling a 26 million labor dispute over allegations they underpaid some of their staff. The stock still depressed at 192. Taylor swift won big last night at the American Music awards, including artist of the year. While she didnt specifically mention manager Scooter Braun, she had a little trick up her sleeve. We will show you that one. Saturday night live taking the 2020 democrats to task. Debatethemed opening sketch. Even though Mike Bloomberg wasnt onstage last week, they found a way to take a few jabs at him. We will play you the clips, next. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. As a principal i can tell you this. When one student gets left behind, we all get left behind. This is a problem that affects each and every one of us. Together with ibm, we created a whole new kind of School Called ptech. Within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. You know whats going up today . My poster. Today, there are more than a hundred thousand ptech students around the world. Its a game changer. Ptech students around the world. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. 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Oh, i dont know. Maybe. Maybe not. I would be hard to beat. I would like to see those Trump Supporters come up with a Conspiracy Theory about a jewish billionaire with his own media company. Good luck making that stick. Stuart that was good. Hey, that was funny. They brought humor back to saturday night live. Deirdre they sure did. Thats a great point. Honestly, every single actor in that sketch, it was a 12minute long piece, i was howling out loud. Ashley what i love about it, theres so much fodder here, it was always bash trump, bash trump, bash trump. Now its being spread out equally and everybody is fair game which is terrific. Deirdre wait. Honestly, for anybody who hasnt seen it [ speaking simultaneously ] Stuart Taylor swift did real well at the American Music awards last night. Of course, she took a shot at Scooter Braun over her old songs. Let me see if ive got this right. Hold on. Taylor swift in her early days came out with some great music and sold it, essentially sold it to people with a lot of money. Then she had the opportunity to buy back those old songs but didnt do it, and now shes complaining because somebody took a risk on her old songs and made a lot of money out of it. Deirdre its more complicated from an emotional point of view, meaning she doesnt like the people who ended up with her former label. I think theres a personality conflict in there. But to your point, to me theres two stories about this. Her music, she rocked it, she broke Michael Jacksons records so as far as her musical career, i mean, top of the top but yes, as you pointed out earlier with one of your guests, the image of investing, the purpose of investing for private equity is, you know, they have ten artists, they invest in all ten, one or two end up like taylor swift making gobs of money. The others usually break even or lose money. So from an investors point of view, they were just doing their job. Stuart yep. Im sorry, im with the private equity people. Sorry about that. All right. Thanks, deirdre. Next one, the shatter heard around the world. The shatter heard round the world. Trying to read this right. The glass breaking on elon musks cyber truck. The clip went all over the place. Now, musk has over 200,000 reservations for the truck on his hands. I have a tesla watcher with us. I want to know if this gaffe, i guess i will call it a gaffe, is that more genius than anything else . Could be. Deirdre a lot of people say his marketing game is spoton. Stuart it is. Michael bloomberg threw his hat into the 2020 ring. I think he might have an uphill battle when it comes to winning over Middle America. Doug schoen joins me in a moment, a bloomberg pollster. How well Middle America reacts to that mans position on guns and climate, we will certainly ask him. introducing the Marilyn Monroe collection of fine jewellery. Exclusively at zales, the diamonds are a girls best friend store. Stuart the rally, ladies and gentlemen, is holding. We are right at 28,000 for the dow. At the moment we are up 123 points. By the way, its a rally across the board. S p, nasdaq, all of them higher. Ive got news for you on usmca. The new nafta. Edward lawrence, is this something to do with mexicos president being in favor of it now . Reporter not just in favor, he had a News Conference today saying that hes sending another letter to House Speaker nancy pelosi, this will be his second letter this month, reassuring her that protections inside usmca for workers are adequate. The mexican president says he is confident that there will be ratification vote on usmca in the house soon. The canadians told me last week their deputy Prime Minister spoke with the house ways and Means Committee chairman as well as u. S. Trade representative Robert Lighthizer to get this deal closed. Last week House Speaker nancy pelosi alluded to the fact a vote may slip into next year. She says there may have to be renegotiations with canada and mexico to get enforcement actually inside an agreement, but now it has been more than a year since the World Leaders actually signed the usmca deal. Mexico has already ratified it. They dont want to go back. The u. S. Trade sources or canadian trade sources are telling me that canada has signaled they would finish their ratification process as soon as the house voted on to schedule a vote for the usmca ratification. So yeah, going forward, the mexican president now pushing again, saying he believes soon this can be finished. Stuart that could be one of the positive factors moving the market up just a little bit this morning. Edward lawrence, thank you very much indeed. Now, theres a lot of good news coming at us on apple. The airpods are selling very well, strong iphone sales, they are still doing pretty well. Want to bring in gene munster, who follows apple very very close closely. The stock right now, gene, is 264. Where do you think its going . Stuart, i think a fair valuation, a starting point is 350. That may seem like a deviation outside of where many analysts are, but i want to quickly justify why i think thats fair. I think theres potentially upside to that as well. I believe that whats going around on the airpods phenomenon, its essentially growing 120 this year, 120 last year, is representative of a company thats basically capturing other parts of our digital life. Think of this as a consumer staple tech company. Therefore, i think it should have a similar multiple as cocacola or procter gamble. Those two other companies arent growing as fast, but the simple takeaway is this. If you apply a consumer staple multiple to apple, that justifies this 350 price target. We are inching our way there. It takes time for investors ultimately to adopt these views but thats where i think we are going in the next year. Stuart i just want to repeat, gene munster thinks it hits 350 a share on your screens right now, its 264. Okay. Leave it at that. Going to move on. Tesla. They made headlines after that shatterproof glass wasnt shatterproof. We got that. Now that we find out that they are taking in, what, 200,000 not preorders, its reservations for this new car, this truck, by the way, but it only costs a hundred bucks to make a reservation. That doesnt sound like a strong impetus towards sales for this tesla vehicle. What do you think . We definitely need to adjust that number. That 200,000 number is more potent than the reality because its just 100. That compares to the model 3 when that was announced, they had 450,000 reservations but those were at 5,000 apiece. This 200,000 number is very different. The simple takeaway is that when you think about this car, the potential in the market, this is a strong sign that there is a level of interest, theres an intent to buy. Ultimately this product is probably going to be about 5 of overall tesla sales. So that is incremental positive. It is not a home run product but it is something that is since theyre not in that current segment today, they dont have a pickup today, this will be again incremental. I think this is a good step forward but you need to be cautious in terms of how you think about that 200,000 number. Stuart gangbusters for apple, a reasonably good step for tesla. Now talk about uber. Im sure you have seen the news, london license was not renewed. The stock went down to 29 a share. Whats your outlook for uber . I think its going to be a tough year for the company. Not just because of whats going on with london. This is a perfect example of why lyft is a better play versus uber. Ubers navigating these International Licensing topics that simply lyft doesnt have to do. To answer your question, i think when you take that into factor, how they expand international business, on top of that they have eats, freight and potentially there could be some changes in terms of how they compensate their employees here in the u. S. , i think that sets up for a difficult stock over the next year. I think lyft, on the other hand, is better positioned with its focus just with the u. S. Stuart if i wanted to buy into the ride sharing business, gene munster says better to get into lyft than uber. Thats it . Yeah. Thats it. Its straightforward. Their focus, there is going to be a massive change in terms of how people move around in the next decade. The Bigger Companies are going to capture a lot of that value. I think ultimately, lyft, given its focus, is a much better play. Stuart short, sharp, to the point. Just the way we love it. Thanks very much, sir. Now, we keep saying this, but its very important in politics. Former new york city mayor Michael Bloomberg is in the race. So im bringing in doug schoen, sitting next to me now. He is a bloomberg pollster. Good morning, doug. Thank you, stuart. Stuart congratulations. You have a nice gig right there. I worked for the mayor for 20 years, over 20 years, so im pleased and proud to be part of his campaign team. Stuart to me, the point im raising here is that he has just absolutely split the Democrat Party right down the middle. Even worse chaos now. There was certainly a division in the party before he got in the race. I think he sees instability, biden going down in New Hampshire and iowa, mayor pete coming up, Elizabeth Warren having gone up and now started to come back down, given the cost issues with medicare for all. I think the mayor sees instability and sees a real chance to go forward. Stuart can he win primaries in the industrial midwest or the south, for example . Hes got a position against guns. I can broadly speaking say that. Hes got a position that he wants climate action. Do you win in the midwest, the south, maybe florida, with those kind of policies . Well, first of all, in the democratic primary, i think those are good positions for the whole party. Stuart the socialists are not going to like him. Warren and sanders, you know . Well, i dont think those are mayor bloombergs core constituency but i would say his experience stuart it will be, though. As a business leader, mayor and philanthropist who has done an enormous amount of good on health care, on guns, on climate and education, he has an appeal across the board. Stuart okay. Look, you may or may not agree with this but i think it opens the door to a trump win for a second term. What i would say is the party will have to come together after mayor bloomberg or someone else is nominated. The president is now at a 40 approval and while i believe given a Strong Economy, he will punch above his weight, so to speak, i do think that he remains vulnerable and the polling now shows that weakness. Stuart that was a diplomatic answer and you know it. I try to always be diplomatic. Stuart youre all right. See you soon. Now this. Just watch this, really. Go ahead. Look at this. That is Bernie Sanders getting a groove on, so to speak, in New Hampshire. He looks happy. Deirdre he looks delighted. I would say, you know, he had this health scare back in october, had an emergency procedure following a heart attack so just human to human, you have to say were glad hes enjoying himself, whether or not you choose to vote for him is your own business. But it was at a labor solidarity dinner in manchester, New Hampshire. Stuart hes smiling. Deirdre he actually tweeted, having the time of my life. I know there were some abba songs played. We have it on correct sourcing saying he had played abba at his wedding. There he is cutting a rug. Stuart he went to the soviet union for his honeymoon. Ashley this is to show hes vibrant, happy and alive and well. Also a campaign message. Stuart good politics. How many times have you seen Bernie Sanders smile and laugh it up . Never happens. Ashley never. Stuart look at nvidia. This chip maker, nice gain again. Morgan stanley upgraded the stock to overweight, that means they kind of like it, and the stock is up 4. 5 , back to 220 on nvidia. Classic Ivy League Football match, harvard versus yale interrupted by Climate Change protesters. Look at that, happened right at halftime. It took almost an hour to get them off the field. Weve got lou holtz, College Football hall of fame guy, i want his take on that. Keep it here, please. Im your 70lb st. Bernard puppy, and my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. 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Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart big game, that would be harvard versus yale this weekend. The second half was delayed because of a Student Climate protest. They simply invaded the field and stopped the game. This is a Good Opportunity to bring in legendary football coach lou holtz. I know you saw what happened there at the big game. Whats your reaction to it . I thought it was absurd for them to interrupt the game. They came out on the field after the band got done playing. Lets remember this. This was for the ivy league championship. And they dont have lights there. By delaying the game, it ended up being four hours, 40 minutes. They almost had to finish it in dark. Heres the amazing thing. Everybodys talking about this idiot. They should be talking about the great game. Yale is down by 17 in the Fourth Quarter and they scored two touchdowns in 88 seconds, two touchdown passes, they end up winning double overtime. Nobodys talking about it. Everybodys talking about Climate Change and you did absolutely nothing to change the situation with the climate. Stuart the trouble is, you are probably going to see this kind of thing again because of all the publicity that the climate protesters generated by stopping the game. Its going to happen again, isnt it . It probably will, but the one thing that will help prevent it is 40 some students were arrested. I hope they were put in jail. I hope they were fined, because your right to swing your fist ends where the other guys nose begins. What gives you the right to come in and disrupt this game when there are 70,000 people in the stands looking forward to the game . This is a great game. Its a national game. Harvard versus yale. Stuart but wait a second. I think you and i are somewhat similar vintage. Pretty much very similar. Do you often feel people like us, were not really part of this brave new world . I mean, its moved away from us. You ever feel that . Well, absolutely. You know, im older than you. My birthday candles cost more than the cake. I remember when they said oh, were going to have Global Warming, i mean, global cooling, everythings going to freeze up. Then it was Global Warming. Now its Climate Change. I dont see much difference from the time i was 10 years of age. It gets warm in the summer, gets cold in the winter. Lets remember the earth goes around the sun, so theres going to be times we are going to be warmer or colder depending on where we go around. Nobody has convinced me that Global Warming or everything theyre talking about is going to make it any better. What about china, what about india . They do nothing. Yet you want us to get rid of all gas, all coal, Everything Else and fly by the sunlight . I dont think so. Im just one of these skeptics but then again, thats just because you and i are the same vintage. I have seen it go through the transition. Stuart it was a good vintage. Lets never forget that. Okay. Now heres another one for you. Washington redskins quarterback, i know you have seen this, but lets repeat it. He missed the final play of his first win because he was taking selfies with the fans. Now, former redskins quarterback, Joe Theismann, said this. How do you miss, how do you miss the last snap of a game because youre taking selfies . Thats unprofessional and wrong. Lou, what would you say . What would you do . How mad would you be if you were coach of that game . I would be very mad. I remember when rocket ismail scored his first touchdown at notre dame. He highfived everybody in the front row. I called him over and said if you want to be in the stands, go buy a doggone ticket. You want to play, you come back here. You are either a player or a spectator. Maybe thats the reason why that he wasnt chosen until the 13th player. Hes a very talented individual but lets have our priorities right. This is a team game. You just intercepted a pass, set up the winning touchdown to win. You got to be able to celebrate with your teammates. This is not about you. I feel the same way Joe Theismann does, only probably a little stronger. Stuart i got the feeling you wouldnt mind getting back into a coaching role. What do you say . You know, if i went back into coaching, i would be a better coach than i have ever been before, because with the Young Millenials today, dont lower the standard but what you say is as important as your tone of voice. Your tone of voice is as important as your facial expression. I would say do you guys have any idea how mad i am . Youre going to find out on monday how much youre going to get fined, so youre smiling, but dont lower the standards. Lets remember you have an obligation to your teammates. You should be celebrating with them. Stuart thats really good stuff. Lou holtz, you are all right, sir. Thanks for joining us, as as. S promise. Thank you. Always a pleasure. Stuart yes, sir. Check amazon. Why not. Seeing a nice gain today. Its the monday before black friday. Investors eyeing amazon sales. The stock is up 23 bucks. Nice gain. 1. 3 . Got it. Look at snap. Photo sharing app. Got it. Theyre up. The stock raised to a buy. The stock is up nearly 3 . Yes, we are, what, three days from thanksgiving. The white house annual turkey pardon about to get into full swing. The two lucky birds arrived in a fancy hotel in d. C. Look at that. We will tell you all about it. Americans, well, they are set to spend some big bucks this holiday season. I bet you never thought thanksgiving would break the bank. It doesnt, actually. But we are going to tell you how much the average one of us is going to spend setting the table this year. Now look alive, all the way down sixth avenue. The macys thanksgiving day parade will march down that avenue just a few days from now. More varney after this. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Aewith 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. Hey. Hey. You must be stevens phone. Now you can take control of your home wifi and get a notification the instant someone new joins your network. Only with xfinity xfi. Download the xfi app today. I need all the breaks as athat i can get. Or, at liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart thanksgiving, three days away. A lot of money will be spent. Now, how much is the average person going to wait, wait, wait. Got to define it. We dont get presents at thanksgiving. How much we going to spend on food and travel . Deirdre food and travel per person, 186. 05. That is higher and its really actually the travel thats going up. So on average, 33. 49 is the travel, 152. 56 is the food bill. But the respondents to this survey say that, you know, theres more and more families that when they host, they go big. So it seems like theres a lot of more extended family or theres a lot more friends included, its not just a Nuclear Family and that is part of what is bringing the cost higher. If youre feeding 30 people, obviously its more expensive than if you are just feeding eight. Stuart i thought politics would keep a lot of people away from the thanksgiving table. Apparently not. Maybe the tide is turning. Gather together, america. Deirdre maybe people are hungry. Stuart now, oh, the president ial turkeys, well, the turkeys that you have at the white house which will be pardoned for thanksgiving, these ashley living large. Stuart they are at a fancy hotel. Is this a trump hotel . Ashley if this were a trump hotel we would be having turkey hearings as impeachment would go on. Forget russia. Its all about the turkeys. Its at 1401 pennsylvania avenue. Isnt that a great picture . The rooms run from about 450 to 8,000 a night. Tomorrow, they will be going to the white house for the pardoning ceremony. Then they are going to head to their new home, called gobblers rest at virginia tech. They will have a good rest of their life. Unlike some of their relatives. Stuart wonder if the president will come along and say im not pardoning them, im eating them. Ashley you would do that. Stuart no, i would not do that. Thats asking for trouble, it really is. But one of these days. Deirdre i think you would. Im with you on that, ash. I totally see you doing it just for a laugh. Stuart lets get serious for a second. This thanksgiving lunch, i dont know whether you have salad, do you serve salad for thanksgiving lunch . Maybe some people do. Dont eat romaine lettuce from california. What happened . Deirdre well, there is an outbreak of e. Coli but the problem is, no common grower or distributor has been identified so its just enough information to make everybody anxious but not enough to really protect yourselves other than these officials, Health Officials have been saying if you are not sure where your romaine has been grown, dont eat it. We actually have a map for you. You can see all the places, all the states that are beginning to pull from the shelves. Its not really a joke. E. Coli can be quite serious. If you are a normal sort of he y healthy person, you have an unpleasant week. For pregnant women it can be really damaging or people fighting an underlying condition, it can be deadly. Stuart lets move away from the serious stuff for a second. I was just questioned in my ear by our producer who said well, what time are you eating your meal on thanksgiving . I said thanksgiving lunch. Thanksgiving dinner. What time do most people eat . Ashley good question. Deirdre you have football fans in your family, i think that usually stuart i insist on eating 1 00, 2 00. 12 noon . Deirdre thats a little early. Stuart you get out of bed at 2 00 in the morning, you are hungry for your turkey at 12 00 noon. Deirdre its not thanksgiving breakfast. Stuart i will be up at 2 00 in the morning even on thanksgiving because my body clock wont quit. This is the first five or six hour, yes, everybody has to eat early because of me. That is true. Are we close to a commercial break . More varney after this, please. Obvious. Sometimes, they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. sure, the contents easy. But then you have to connect, download, edit, reformat, output, save, send,. You can shoot, edit and post thumbstopping videos, all from one device. Samsung business solutions. Stuart this could be an economic indicator. A positive one. Next years super bowl ads have already been sold out. First time in five years they have been sold out by this time. 5. 6 million for a 30 second spot. That was at the highend of the range there. But your rock star producers have four teams in the mix on betting cards, patriots, ravens, 49ers and packers. Stuart wait a minute you get a discount if not so good teams playing . No, you dont. Stuart i didnt think you would. Ashley as member of the fox family very reasonable price to pay since fox has the super bowl. Stuart absolutely. Its a bargain. Stuart its a bargain. Ashley yes. Stuart 49ers and packers played last night. Did the packers win . No. The 49ers creamed them. Stuart 49ers are best team around . Ashley theyre strong. Tom brady is still there. Showing he might have retire. Stuart that is my commentary. Neil, it is yours. David if it was neil. Always great to get your hand you have. Im david asman in for neil neil cavuto. This is coast to coast. How might mike the situation sorrentino got himself into a big tax situation. He joins me for for exclusive interview. That is coming

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