All across the east. Not much of a bounce back as of right now. Lets bring you up to speed on the flight to safety, gold has retreated to the tune of 23 an ounce now are well shy of 1700. But the yield on the ten year treasury, that remains stubbornly near its lows. That indicates the move into safe u. S. Bonds remain intact, 136 on the tenure right now. Move on to politics, the democrats debate tonight right before 7 00 p. M. , at the South Carolina primary, Bernie Sanders will be attacked. Especially after he doubled down on his admiration for fidel castro. Also crunch time for Mike Bloomberg, he can show he could debate, and joe biden has got to show hes up for the fight ahead. As usual in the hectic times, a big show on the way for you, and a moment you will see the president go after cnn, what a putdown it was. Varney company is about to begin. How can you justify to their American People have an acting dean i would note intelligent. First of all i want no help from any country and i have not been given help and if you see what cnn, your wonderful network said i guess they apologized in away, didnt they apologized for the fact that they said certain things that were not true, what was their apology yesterday, what did they say. I think our record on delivering the truth is a lot better than your sometimes. Let me tell you about your record, its so bad you ought to be ashamed of yourself. You probably have the worst record in the history of broadcasting. Stu wow, that was him just a few hours ago, come on in fox news go to ritter. I him having fun this morning. But lets move away from cnn and the putdown, heres the president on the world stage representing americas prosperity, arms deal, future trade deal, i think this is a win for the president. Absolutely. Stop and think about what it must look like to the rest of the world watching the successes that this and president has enjoyed especially in the economy, stock market, wage growth, unemployment, all the successes and looking over at the Democratic Party and some of the squalling, not just from the people running for president but looking over at congress and elected officials in the Democratic Party trying to impeach the guy, they must just be absolutely bewildered about what is happening at the top of the Opposition Party in the United States. Again, i went for the United States, win for the president , whats unfortunate, i think some of his appearances in india were overshadowed here by the virus in the stock market selloff. I would like to see more what the president had to say. Indeed. I think obviously the virus is going to be something we will be focused on for some time. As it looks like its not going away very quickly and its going to be really fascinating and a little bit terrifying to see how that will play into the electi election. The president did say the virus is very wellcontrolled in our country so we did approach that in his news concret confer. I think thats a. , you look around at the other countries, take north korea for example, if a virus like this breaks out in a place like north korea, you think for a second they have the equipment and the ability to control Something Like this . I dont see how they do. Yet again, the United States of america is a very good place to be in this world and i wish more americans woke up every day and reminded themselves of how lucky we are. Stu hold on for a second i have more in just a moment. Looking for the big rebound, joining us now market watcher scott shelby. Look on your screen, thats not much of a rebound. No it is not. Its good to see things stabilize for second but the two big takeaways from yesterday, this virus is going to slow growth. Its definitely going to slow chinese growth, it will slow the u. S. Growth. At a time where we have 3. 6 unemployment and only 2 gdp, thats a little worrying, the other good take away, this is going to be with us a while, this will not be a firstquarter thing, its probably good to be a thirdquarter which pushes us towards the election. It will be a small black cloud Going Forward and itll be interesting to see if they weather the storm. By the way i received the president ial suite. Ill read it. Chuck schumer is completing for publipublicity purposes only thi should be asking for more money than 2. 5 billion to prepare for coronavirus. If i asked for more, he would say it is too much. He did not like my early travel closings. I was right, he is incompetent. You want to comment on that scott . Whatever the president does Chuck Schumer will disagree. I would argue if he said it was good to be 10 million he still say is not enough because hes a democrat. At the end of the day you cannot listen to what he has to say about the president s behavior. By the way i wouldve said hes looking like a much more world leader on stage 110 120,000 people in india then back fighting and fighting and watched tonight what happens with the democratic debate. Thats a more serious situation than what the president is doing. Stu i do notice that the flight to safety is still with us especially with the ten year treasury, gold is down 22 bucks but the flight to treasury is still going on. Im not a big fan of gold in these times. If you want to buy gold to hide your money, and buy it in a time of armageddon we dont have either one. Whats happening, we set new records on negatively priced debt, we will see these rates continue to ratchet lower and lower and have our brains go higher and higher. There could be a point where we see the tenure make iran at 1 . That will be the market during the president s work for him if he wants lower rates anyway. Stu stay there please i want to talk to you about President Trumps diet shortly. [laughter] on this program were looking for bright spots in the economy, i think we found housing as a bright spot. Just received the latest read on home prices, does that confirm it shows in fact the rate of home price for the 20 metro areas up 2. 9 in december, that is yearoveryear, that by the way is the fastest pace in 11 months. So the general consensus is the show stable growth, prices are rising because of the lack of inventory, we talked a lot about that, the city growing the fastest with regard to home prices, number one phoenix up six and half yearoveryear followed by charlotte at 5. 3 , tampa at fivepoint to percent all very warm and lovely cities. I have two big names we are following, first of all home depot, better profit and that stock is up 7. That is 3 . That is tied into the housing rebound. Strong holiday sales, macys, stock not moving much, of 12 sent at 78. 78 . 15 bucks a share on macys. Shortly we have an analyst on the show this is macys is rearranging their chairs on the titanic. This analyst does not like macys buried overall look at futures, were looking for the rebound were not seen much of her rebound, the dow up maybe a hundred at the opening bell. President trump on the world stage joining his world crowd, but the media is obsessing over what hes been eating on his tour. Crazy headlines to show you. Bernie sanders on how he plans to pay for ambitious politics in a medicare for all Green New Deal et cetera, et cetera, et cetera. Will be digging deep into your pockets to pay for it all. We have details. And the knives will be out for bringing the debate tonight. What about Mike Bloomberg, can he recover from his first debate debacle. We are following at all. More burning afte varney after s al look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. 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. Stu im not sure i know the name of that song. [laughter] clearly the race for the democrat nomination is on in the debate tonight is going to be seven candidates on the stage. I do declare that bernie sande sanders, seven candidates face off tonight, there in South Carolina bernie is the one to watch, they will go after him because hes a front runner, by the way he has unveiled his plan to pay for his socialist policies. I have a dictionarys worth of information here. Basically its higher taxes, higher taxes, medicare for all, universal healthcare, theres a smorgasbord of Financing Options but raising the top marginal income tax to 52 on income over 10 million, Corporate Tax reform goes back to 35 , lets not forget the Green New Deal, 16. 3 trillion would make the fossil fuel industry pay for their pollution through litigation fees and taxes and by the way reduce defense spending by 1. 2 trillion, put that towards a Green New Deal. My favorite, free college for everyone and wipe out all the student debt, that would be 2. 2 trillion that would be paid for and up the tax on stock trades. A fee on every bond trade and derivative trade. Overall we get to see where this is being paid for, higher taxes and taxes on transactions. You have to come back to this, how does he get away with the economic nonsense. Its a testament to the absolute failure of education in america. There are enough bernie bros, enough supporters of Bernie Sanders who really believe in this stuff and they have no sense of history, they have no sense of what socialism actually is, its actually the creation of a massive massive power structure, socialism obviously is not an economic system, its a form of detail as terry is in them, a way of taking money. If there arent enough Mike Bloomberg to just soak the rich, you will be raising taxes on people 29000 a year to feed for children. Right hand side of the screen is charles who is still with us. Essentially, Bernie Sanders proposes to do pretty much the same as fidel castro did to cuba. Funny thing, maybe thats why he spent so much time praising him because hes going to cut off the state of florida for democrats forever. But even when you look at his efforts to go after the fossil fuel industry, all that means the price of gasoline is going to go up double, triple, quadruple and that right there destroys the economy by itself. So much to go out and so much little time. Thanks as always for being with us, we will see you real soon. Now bring an white house reporter, he is in South Carolina, the latest poll from their heading into the debate tonight, biden and sanders in a very tight race. Bernie has momentum, who comes out on top do you think . I think right now its too early to call, we found ourselves kicking ourselves from earlier on thinking one thing was going to happen and then otherwise absolutely occurred. One thing that we can say for certain if Bernie Sanders is going to be stopped anywhere before super tuesday its likely going to be South Carolina, early polling shows joe biden still has the lead even though Bernie Sanders is coming up closely behind him. But if joe biden cannot hold on, if Bernie Sanders is able to pull off the upset he will have one for states going into super tuesday with very serious momentum that some fear unstoppable. Do you agree with me, bernie will be the big target in the debate tonight . Absolutely, for a long time you saw other candidates being unwilling to go after Bernie Sanders, the left wing, but this is the last first dance, tonights debate is your last opportunity to make a First Impression and we saw tom steyer surprisingly go after Bernie Sanders for wanting to take over segments of the economy. Those were his words, Pete Buttigieg also went after Bernie Sanders and this morning things arent even full swing, we saw joe biden and Mike Bloomberg cut out statements questioning Bernie Sanders ideology. Its going to be a long and likely blood he night for him. Stu but i will watch. Mike bloombergs debate strate strategy, he is going to go after bernie tonight as well. Hes gotta make up for the disaster in vegas. Youre absolutely right. If you look at what the Bloomberg Campaign is put forward, their theory of the case, they are going to be the establishment champion who could go headtohead with Bernie Sanders but that has not happened. We saw what happened in las vegas and we saw all of Mike Bloombergs billions of dollars could not get him a good debate stage performance. If hes going to say that hes the guy with the plan and stand up to sanders, then later trump will have to have a stiffer upper lip, you have to believe you have to believe in his analyst have been prepping him for the stage. Stu we have one on the show later. First of all mastercard, and seo announced he is stepping down. That stock is down one point to 5 purdue like to keep you in touch with the moments of amazon, their expanding their footprint with the cashier less Grocery Store, more on that coming up. Amazon backup 19. Cleaning Products Company like clorox for example getting a boost from the Virus Outbreak, biggamagain yesterday, electros that allow employees to work remotely, they got a boost to the outbreak no change in the stock premarket this morning. Overall features are looking for rebound, we will get a modest rebound. Down 1000 yesterday, up maybe 120 at the opening bell today. Not much of a rebound. The worlds richest people shed billions of dollars in yesterdays drop, we will tell you who lost the most after this. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right so you can save big. Get a nofee personal loan up to 100k. Get a nofee personal loan can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Instead of using aloe, or baby wipes, or powders, try the cooling, soothing relief or preparation h, because your derriere deserves expert care. Preparation h. Get comfortable with it. Stu the worlds richest people racked up big paper losses in yesterdays selloff. Lets start with jeff bezos how much did he lose. He lost 4. 8 billion. He still worth over 123 billion to be exact. His exwife, they divorced last year end the base of worse of all time some would argue. Stu im sorry, not to interrupt, lets listen in. A very Productive Work and weve seen a good deal in your country and integrate Country Pride and the relationship has never been better between india and the United States and as you know were working on major trade deals and military purchase deals and a lot of other things. Were very positive things. I just want to thank you i would like to thank you very much. This is a great honor. Thank you. On behalf of the first lady and myself and all my representatives, this was a tremendous learning experience and something very special, india is a very special nation and its great to be with you. Thank you very much mr. President. Thank you. Stu the president cementing the relationship between the United States and india. Perhaps i hate to use the word using but maybe using india as a counterbalance with our relationship with china. Certainly balancing things out and organizing the trade you. Were coming up to a commercial break that will take you to wall street where were looking for a rebound, im not seeing much of a rebound right now. Back in a moment. [ applause ] thank you. Its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. The business of road trips. Adventure. And reconnecting. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. Hi with the worldse first invisible trailer. Invisible trailer . And its not the trailer right next to us . This guy . You dont believe me . Hop in. Good lookin pickup, i will say that. Oh wow. Silverado offers an Optional Technology package with up to 15 different views including one enhanced view that makes your trailer appear invisible. Wow. Thats pretty sweet. Thats cool. Oooohh thats awesome. Whered the trailer go . I love it. Its magic. Stu the market opened in about 90 seconds, were expecting a modest rebound, come on in market watcher mike murphy, joining me right now. What is the danger for investors here . The danger is people looking at a market selloff of 1000point and say now things are cheap, things are on sale, not necessarily true, certain things are but when you look at a company like apple that a lot of people own and watch, yes i had a big selloff that they guided earnings lower. So you can argue although apple stock price has gone down, its not necessarily cheaper than what it was three weeks ago before they guided earnings lower. Stu do i jump back in, you said dont jump back in yet, dont look at bargain yet. No, no, you can look for bargains, what i dont want you to do is look and say this is the bottom, we cannot go any lower from here because thats not true, when you have a bargain list, names you want to buy look at names that have strong earnings, look for selloff and entry points, but dont think about the coronavirus because you will not solve it. There is a problem with the viruses morning, the problem is iran, as you watch the market open, we will keep you up to speed on stock price movement, lets get more on the outbreak and i believe you have news. Yes the Health Minister has confirmed that he has in fact contracted the virus. He is the guy who ran the city. And they told him to shut up. But he has it. Now we know about it. The market is now open, look at the big board, we are up 140 points and plenty of green on the lefthand side of your screen, we are up a a half of a percentage point, how about the s p 500, show me the bounce if there is one, it is there, up a half percentage point. How about the nasdaq, way down yesterday, up nearly 1 . Ill give that a bounce back mark. How about gold, up yesterday, down again today, 26 bucks. A reversal of the aspect of the flight to safety. The ten year treasury yield still shows money pouring in there. We got 1. 37 . Thats historically a very low level. Individual stocks, this is important, home depot optimistic about the coming year, the stock is up nearly 3 , is not a play on housing, is that safe . It says something not just yet about housing but about the u. S. Economy, people are going out and spending money and improving their homes and also speaks to amazon, this is the one area in retail that amazon has not been able to disrupt, home depot sitting on all cylinders, beating on earnings, home depot even mentioned when home prices go up, thats when investors and people go into the stores because they want to invest into the home. Home equity for renovation. Thats close to alltime high. I dont know exactly what the highest but 246 is way up there. Amazon, developmentally more food, their opening at least one more cashier list store. Amazon go Grocery Store set to open in seattle on tuesday, has an array of cameras, sensors, you dont have to whip out your credit card or wallet to pay for anything, you pick up what you need including pears, apples, whatever it sold on individual basis and you walk at the store. So amazon actually has 25 of these go Convenience Stores, this is the first supermarket paid the reason they actually dont want to own the stories in the future, like cloud because they initially started cloud because they needed storage. So they basically started the technology so they can sell it to others. Does that make sense. There can be multiple Revenue Streams that they partner up with different company. They did not suffer that much in the selloff. Theyre still well above 2000 a share. By it . I think amazon has had a nice run up, we own and body around 1700 and if you remember i went to 1400, at 2000 is pricing in the lot for the company. I have a hard time telling people to go out and buy it today. Are you going to sell it . Im writing now i think they have a lot of upside. If i was going to look for an entry point on amazon it would be a lot lower than 2000. Stu the dow has open, we have a 110point gain, not a great ounce back. Look at shake shack, down it goes, big time i believe, the ceo blamed it on a rapid expansion, perhaps overly rapid expansion, 14 down. 49 new stores in 2019 alone are going to open up a couple dozen more globally, the stain for failed in the Fourth Quarter down 3. 6 , net loss of 2. 1 million. Revenue was up 22 but it did not exactly reached the height that wall street was hoping it to. But they said let us grow, it will hurt the bottom line shorter but longterm have a significant growth. Every sense i lost my shirt on Boston Market im leery of shops like shake shack. You have to look at mcdonalds in tripoli there try to follow those companies and follow in their footsteps. I think theyre on their path, revenue going up but is holding the bottom line. Will they be able to execute, if they can execute look at where mcdonalds market, look at chipotle, they have a great franchise and i think theyll straighten this out. Stu clorox, ill call them that other cleaning stock, hygiene stock if you like, they moved higher on the virus fear, yesterday up a bit more today, the defensive play. Because everybodys going to need these products if they make it anyway, regardless of how the stock market trade, by the way when we have economics like the swine flu back into thousand nine, consumers get worried, actually sales spiked 70 over six months, these might be good place for your portfolio, if there easing back of a concern of up and mxp when you clean things up, thats how it works. More on the virus, drugmaker has shift its first vaccine for the virus. It sounds exciting but has to go through a whole series which will begin in april but they are saying we turn this around incredibly quickly in record time but there is a protocol. We will see, within three months will get the first real test on this but again will not be available until next year. Stu another virus story, zoom video, they make products that allow employees to work remotely, again you got a boost on the Virus Outbreak because people will be working morosely not leaving the house. One of the most successful ipos last year up to 6 in 1000point selloff. Thats because people dont want to work and go to work because they want to work from home instead because of concerns of contagion is spread. Did the work from home really ever take off . It may not be huge yet but it is definitely gaining a lot of momentum, a lot of Big Companies are focusing on it. The fact that you dont have to commute, you dont get into watercooler conversations that youre working from home, they believe theres a big push that employees can be more productive from working from home. I want to work from home in florida can i do that please . That would be great. Theres also trouble concerns since we know the flights have been canceled to china, if you cannot go see facetoface your clients over there, you might do it over video instead. If youre going to put something in your portfolio, look past the coronavirus, in other words as some point whether its next week, next month, coronavirus will be behind us and if you dont want zoom or quarrel rocks in your portfolio then i would not add it today. Stu okay. Quick check of the big bore, im afraid 80 points, six minutes into the show, the session we are up 83 points, that is all you got, it was down 1000 yesterday. Look at macys, surprise there, strong holiday sales, the stocks of, macys at 15 a share, tupperware, they are heading for a record low, 32 , the issue to profit warning and an accounting pro. Down 31 at 3. Tesla big drop on the big selloff. That company has a lot of exposure in china, backup 847 per share. That is tesla this morning. Boeing was hit during the selloff, their backup a buck higher at 319. Right hand side of the screen, President Trump, the National Anthem being played in new delhi, i believe as he heads into a bankruptcy estate banquet. The left side of your screen showing oil, 51 per barrel. How about that. I should be getting cheaper gas at some point in the future. Apple started to reopen stores in china that were closed in the wake of the virus. 29 out of the 42 stores that operate in china have reopened but limited hours. Usually open around 12 hours now theyre open fewer than eight hours. One of the reasons why, they have cut back saying they will not meet their sales target because of the store closures. That and Factory Production closures as well. They dont know when exactly they will get foxconn and all the compilers back up and running. Stu you just dont know when. For company like apple, they also have very little inventory and fastmoving with their contracts. So they billed very quickly. People are saying you cannot trust whats coming out of china about the coronavirus. You could take it to the bank if tim cook is Opening Stores over there, hes done the research and the work and he believe it is safe to have the stores open because i dont think he would be doing it if he did not have assurance it was safe to do it. Stu i would call that positive. Got it. Travel site expedia, they are cutting thousands of jobs. 12 of the workforce, 3000 jobs because they say a very disappointing 2019. The Expedia Group has a lot of names under it home away, hotels. Com, travelocity all come under expedia but they say they have done a poor job in execution, and the chairman who took over just in december said the worth ethic that expedia is bloated. The employees were all life and no work. He absolutely slammed the company and said its unacceptable in part one of cutting cost letting go of 3000 workers. Stu you dont hear that very often. Accompanying guy in charge said you not doing enough work. Your worth ethic is not enough. You hardly ever hear. You need that coming from the top expedia disrupted the entire travel industry another getting disrupted themselves because everyone is coming into the space. I dont know playing on 3000 people is enough to resurrect the business. Stu interesting story. Fascinating. Times up im afraid. But you were good today. Check the market please, pretty static at a gain of 100 points for the dow industrial. Just over 28000. Twitter suspending doesnt of pro like bloomberg accounting they violate company rules. Will tell you which rules they broke and will talk to the former twitter Vice President craig also according to reports bloomberg spent the weekend out of the public eye to practice for tonights debate after his dismal performance last week. Is he ready for round two . I will ask bloomberg posted doug. Bernie sanders leading in pennsylvania with at least one pole he wants to ban fracking something that creates thousands of jobs in pennsylvania all talk to the pennsylvania congressman about that. It ran emerging as a worldwide threat to the spread of the coronavirus. Could that mean reaching change in iran. We will discuss. And they found themselves in a magical land. And then what happened . Wheres our family from . Was he my age . So nana and pops eloped . And then what happened, daddy . Well, before us, there were your great, great, great grandparents. Turn questions youve always had into stories you cant wait to share; with ancestry. Turn questions youve always the sun is risin as the day begins time for reflectin on family and friends and hey, we got somethin just for you sniffing its a cup of your favoriiiite. loud splashing highpitched laughter dang woodchucks with geico, the savings keep on going. Just like this sequel. 15 minutes could save you 15 or more on Car Insurance. Stu definitely not much of a bounce, up 71 points for the dow, barely above 28003 look at Virgin Galactic reports after the closing bell today, they had a very nice run recently, lets see how they do when we know the earnings. Right now as you walk up to the Earnings Report thereof 5 . Disney, what do they have, we have disney, because under some fire because of their disney and they are not catering to a certain they lack adult content and programs according to the analyst so they might not add that much about the 28 million subscribers that already signed up in the first three months of the year. But we do have 167 million for netflix worldwide in disney even the content that they have including the star wars and the marble and a lot of attraction for kids, they might get more subscribers. Theyre predicting 60 90000000 by the year 2024, however, they do have to spend a lot of money and a lot more competition coming online this year. Stu disney went up to nearly 150 with disney came out. Now theyre back to 133 and not struggling by any means. Look at the amount they spent on content, they spent 15 billion last or in disney spent a billion lester in comparison. According to greenfield they both spent two and a half billion by 2024. Theres a difference. Stu checked the dow 30, i dont think im going to see a whole bunch of green up there because the dow is now up only 60 points. That is not much of a recovery from whats going on. Moments from now, now we are joined by sandra smith, i cannot hear you. Your simulcasting because this is a huge day for the market yesterday, more than a thousand. Selloff. We said we need to get Stuart Varney on here and now we have the live images of the president in india, a country you and i have spoken about so much over the years, the Economic Growth that it has seen. Bring this all together for us as we observe this together. I think the trip to india was a major win for the president and a pretty good win for america. You have a 3 billiondollar arms deal, you have a new trade deal possibly being negotiated and a big deal coming up in the future. More importantly, you have the president reaching out to india as a counterbalance to china. I think that balances the global relationship there. I say that is a plus for the United States. Would you agree with me on that one . I would ask you about the potential trade you. That the president has used to make headlines around the world. Talking about that actually happening but if you read the New York Times headline this morning, trump visits india, trade deal remains elusive, what exactly do we know about what is being accomplished on the ground. Stu we dont know. The president plays it pretty close to the chest. He will say were coming up with a great new trade deal but you dont know what its all about. In the other side of the fence is not saying much either. I cannot answer your question because you just dont know what the nature of this deal might be or what kind of progress we have made. But the president wants more trade and he wants us to balance out our trade relationship with china with a much better trade deal with india. So i say its fairly positive. Can i turn this around for a Second Period you used to be a traitor. And youre on the show for quite a long time on the fox business network. India is a Large Consumer of goods all around the world and a large producer of goods that are sent all around the world is a Major Economic powerhouse, the president talked about that this morning and he said he sat down to a business roundtable, he sat down with Major Companies there, he talked about how impressed he was and he projected optimism about the future of india but if i could point to the markets, as were looking at the dow, it is now basically unchanged on the day, it started up much higher but all of this after a more than 1000point selloff yesterday on coronavirus fears, what are you seeing and what are you hearing. Just turned negative by the way. This is my opinion, we have a new breakout of the virus in iran. The iranians are not in a position to contain this outbreak, we are told that 50 people have died in the town of kuhn. Its a religious center, pilgrims coming and going all day long, the New York Times says it is still there, the pilgrims are still coming and going as of tuesday. So i would question the ability to control the virus and i would expect barbells are ringing all across the east because people flow all over the east and i dont think they can control it. I think that has a lot to do with the market this morning after the big drop yesterday. If i could ask you to put your political had on for a while if we watched the live pictures of the president in india. He held the solo press conference this morning taking aim at moments at some of the potential 2020 rivals. The person that might face him in the general election stage. We have a big debate tonight, what do you see. I think Bernie Sanders will have a target on his back tonight and hes given his opponent, the rest of the Democrat Field and President Trump, bernie is giving them a lot to go. He is just double down on his enthusiasm for fidel castro, he just came out with a mammoth tax and spend plan which really makes no economic sense to me whatsoever. So i think bernie is the target tonight, i think everybody will attack him and i think is a pretty good shot of getting the democrat nomination. Im putting my political hat on to say if he gets the nomination he will lose big time to President Trump. Final thoughts, you talk about socialism on your show a lot, final thoughts on that being a big topic as Bernie Sanders is a selfproclaimed socialist and will be on that stage. Stu final word on what, socialism . Yes. Im a refugee for socialism, in the 1970s, england was a socialist country. They did not throw me out, they drove me out. And to see my adopted country have anything to do with socialism. He always tells us exactly how he feels doesnt he. Thats why we love Stuart Varney. Good stuff. Stu back to you. We will see you soon. We lost the rally, we had a rally of what about 100 odd points but we lost it, were up 14 points. I do believe, maybe im wrong on this but i believe that expansion of the virus into iran is a real real problem. However, maybe some people have a different opinion. Were up 15, lastminute Holiday Shoppers help massie butter next guest says macys is a sinking ship and cannot be saved. That is pretty dramatic stuff, she will make her case after this. Because your investments deserve the full story. T. Rowe price invest with confidence. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. Stu even i recognize that the titanic song of course, why were playing it because her next guest says macys is a sinking ship that cannot be saved. The stock is down 10 cents. , macys had strong holiday sales, why is it a sinking ship. In an environment like this, where we have a lot of volatility and a lot of disruption, i think investors would be wise to put their money elsewhere instead of putting it with macys. Stu you say its a sinking ship, is it going out of business or losing ground . I think it already lost ground, theyre doing everything that they can, theyre throwing spaghetti at the wall. I said last week before we were brutally interrupted that closing 144 stores, that is still 400 stores too many as far as im concerned. Stu let me get to luxury retailers, they lost billions because of the virus, can they come back . Absolutely. Right now were in a flight to quality, the luxury sector will never go away, those people will bounce back quicker, theres a moment under momentary pause because this is a disruption parade you want to put your money and luxury stocks like lv mh, carrying that sort of thing. Stu i will take your advice. Thank you for joining us. We are up 57 on the dow. The latest with the president , what do you think it is it is eating habit, his trip to india. Brian will discuss that. I see the Virus Outbreak is the latest example of how democracy works or authoritarian regimes do not. I will explain that and my take, second hour of varney coming up. Is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey . So get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby stuart coming up on 10 00. That is about 30 seconds away, actually. When it gets to 10 00 precisely well have latest read on Consumer Confidence. That is an important number because we want to watch the trend. Consumer confidence has been very strong. Will it stay strong . Right now, i am turning to the market, were up 85 points. Again we have to say it. That is not much of a rebound from yesterdays 1,000 point dekline. Three, two, one, it is 10 00 eastern. Were all studying our computers. Ashley we are indeed. Stuart Consumer Confidence. Ashley not yet. Stuart not yet. Hold your breath, sports fans. Assure you it is coming. It is 11 seconds late. Ashley it is late. Wait a minute. Something is coming. Stuart something is coming. Ashley 130. 7. 130. 7. Okay. Were hoping for about a32. It is a little lower than we would have liked to have seen. 131. 6 in january. This is the First Reading for february. So a little soft. Stuart bring in george seay, market watcher of the moment. George, i dont know what to make of a reading of 130. You tell me if Consumer Confidence is still strong . It is still very strong but the markets giving consumers many reasons to be concerned. The coronavirus is obviously a big deal. You have got election turmoil. I dont think it would take a whole lot for Consumer Confidence to drop some. There are many reasons to be confident. I dont expect it to take a dive. Thats a pretty good number. Stuart stay there, george. I will pet back toe you in a moment. As for the market not much response to the consumer number. Were above 115 points, just above the 28,000 level. Now this. The virus is spreading. Testing governments the world over. Some regimes are just not capable of dealing with it. The virus is a threat to those regimes. Some in my opinion may not survive. Case in point, the new virus hot spot, iran. The outbreak is in qom. That is a religious city with thousands of pilgrims coming and going on a daily basis potentially spreading it throughout the mideast. The authorities in tehran have not been truthful with their own people after a report of 50 deaths in that city, qom the Health Minister denied it and put a gag order on reporting. Just hours later the man in charge in qom went on state tv said the situation was very dire, the disease spread across the city. Result . Panic. Thats a threat to the khomeni regime which already has zero credibility among the iranian people. In china widespread criticism of leader for life president xi xinping. The authorities were slow to report the outbreak in wuhan and many believe they have not been fully truthful about its spread. Xis presidency not in doubt but his authority has surely been eroding. If he cant restore chinas dynamic economy he is in real trouble. What a contrast with america. This open democracy so far dealing with it successfully. President trump want as billion dollars to develop a vaccine, 2 1 2 billion to help with containment. Senator schummer is critical of the president s efforts. That is as it should be. Politicians should hold the president accountable. Backbiting politics has its place. As the people we know what is going on. The virus is clearly an economic challenge. Obviously a Health Challenge too and it is going to be a political challenge. It has exposed closed societies to a threat they never saw coming. That threat is a credibility threat. The people no longer trust their authoritarian leaders. And that from tehran to beijing will be a very big problem. Bill mcgurn, wall street journal editorial guy is with us now. By the way irans Top Health Official has just said, i got the virus. I think that is a real problem for that regime . I think youre absolutely right. There was a woman who wrote life and death in shanghai was put into jail because her husband worked for shell and she came to the u. S. Later. And she told me the politics, the point you were making in china, everyone says they support but you dont know what theyre secretly doing. I might say i support but, advantage in america is out in the open if i oppose you, like Chuck Schumer opposing trump. It is out in the open and you can see and that gets to superiority. The market is based on pricing systems, right . Information, we spread information and command economy is based on obedience to the leader, right . Not telling them bad news. What happened to the doctor when he found this virus . He got a visit from the Police Department and they told him to shut up. Stuart not good, not good. You have an editorial in the journal today. Right. Stuart talking about panic in the market. Right. Stuart but not panic on the virus . Right. Stuart it is a market pandemic . Right. Stuart what are you saying, main point . I think the main point there is uncertainty. Of course the market is going to react. Like you go into the hospital, people go into hospital, something serious you dont know what it is. In the beginning there is all question marks. They gradually test, rule things out, amazing how quickly they come to a diagnosis. I think we will find a vaccine and so forth. It will take time. That will, we can solve that problem. Stuart this thing has to wash around the world. Right. Stuart that will really slow the world economy. No one in these countries trust their own government to tell them the truth. Even if we say we contained it who will believe them. Stuart a hell after problem, excuse my language. Hold on a second, bill. I want to get back to george seay. George, i believe you think this virus could be a black swan for the market is that correct . It could be stuart. We have to wait and see. That is the problem the market is having back to the gentlemans comment about uncertainty. The market doesnt know where this is going. It could be something truly dreadful or something contained pretty rapidly. We have to wait and see. Uncertainty will keep the market down, keep people concerned. Im not a fan of Warren Buffetts politics but a fan of his folkisms, one of them is be fearful when other people are greedy and greedy when other people are fearful. Nobody is afraid yet. Market may have to draw further to get there. How about Bernie Sanders. Stuart h, youre laughing, is potentially a black swan for the market . Especially if the democrats capture senate as well, if they control the legislature, congress, executive branch, no telling what onslaught sanders could have on the capitalism and economic system. Speaking of greed, you hear about the greedy billionaires, it is left who is greedy. Though want to take money from people who have wealth and dole it out. That is pure greed. Sanders represents that. He is potential black swan, no doubt about it. Stuart im with you on that one. George, check the market. Keep a close eye on it, when the market went down, down 1000 points today. Today what is the reaction this morning, any rebound, any bounce back . That is modest rebound. Up0 points on the dow. Up eight points on the s p. 37 on the nag dak. Here is a dow stock, that would be home depot. Strong sales, optimistic about the coming year. Good for the stock. It is up about 2 . Go back to macys. It is, it is 15 a share. It is down six cents. It reported stronger holiday sales. We had a guest momentarily, moments ago, said that thing is a sinking ship. 15 a share on macys. We have news on the virus. The drugmaker ma derna, has shipped it is first batch of experimental vaccines. Deirdre bolton at the exchange. When will it actually be available this thing . Best of terms, stuart, july or august. The company shipped vaccines to the government and 20 to 25 Healthy Human volunteers are basically agreed to be injected with this vaccine twice, see what kind of reaction it promotes in their immune system. See if that is the right kind of reaction to fight a virus such as the coronavirus. If this happens on the timeline you and i would talk about, this would be the fastest ever. Im told moderna got sequencing for the coronavirus in january. They have dont this much work this far within a threemonth time period, experts say that is a record time. If you compare that to that 2002 outbreak of sars virus it, took companies 20 months from start to finish to have a comparable product to come to market. If this works this would be the fastest ever. Experts say we dont know until july or august. Back to you. Stuart moderna has done well. Deirdre, thank you. Biden, another gaffe. He told a crowd of supporters at a rally in South Carolina that he is running for senate. We talked to Brian Kilmeade about that amongst many other things. That is later this hour. Bernie surging in pennsylvania. A poll showed him beating President Trump in a headtohead matchup but what would a bernie win do for the fracking business in pennsylvania . Congressman there dan newser, is on the show later this hour. President trump wrapping up the twoday trip to india. He held the press conference in new delhi. It was his usual entertaining press conference. He talked about a lot of things including Supreme Court Justice Sonia sotomayor. Well break it down with the judge next. Stuart down 1000 yesterday. As of right now, after 43 minutes worth of business were back up just 30 points. Thats it. Tesla a big loser yesterday. Now up, no, down a bit more. Despite the fact jeffries, that is an investment firm, they raised their price target saying tesla, i dont understand this. Raised it from 600 to 800. The thing is at 833. Go figure the analysts. Ge cut 78,000 workers last year. That is more than a quarter of the workforce. Theyre back below 12 a share. Now then. There will be a secret hearing today for roger stone. I repeat secret. Judge napolitano, fox news senior judicial analyst, is not happy about secrecy. Explain. No one should be happy about secrecy whether you like stone or dislike him, whether you like the president or dislike him. This is a hearing to determine whether or not there was jury impropriety in the trial, whether a juror failed to disclose her, disclose her preconceived prejudice against President Trump and against roger stone. Why it is secret . Were not being given a reason, but the secrecy is compounded. It is one thing to have a secret hearing, to let the participants go out speak to the press. Another thing to have a secret hearing and bar participants from speaking to the press. That is what this judge has done. This is absolutely stalinistic. This argument ive been making in summary fashion made by stones lawyers in writing two days ago, okay, i will hear you at 1 30, you could tell me why it would not be secret. At 2 00 i will lock the courtroom door, make it secret unless you change my mind. That is what were confronting. Stuart that makes no sense. She has gagged stone. It is one thing to gag the defendant during a trial because you dont want him talking to the press. Stuart of course. It is a way to communicate with the jury. There is no jury. There is no trial. He has been convicted. He has been sentenced. The gag serves no legitimate governmental purpose. She centering on him and his lawyers. Question, why is the bill Barr Department of justice not opposing this secrecy and not opposing this gag rule . Stuart do you think the judge might have a political bias . Yes. Stuart oh, that is serious stuff. Yes. The reason i say that i am loathe to do this about a sitting jurist, the reason i say this, when she sentenced him, she referenced behavior and words and events that had nothing to do with the courtroom. That had to do with his, sort of history on nick style of histrionic style of leave before the allegations were filed that has no place in the courtroom. That has no place in the judges decision how to sentence. Stuart lets move on because we got Supreme Court Justice Sonia sotomayor. She issued a scathing dissent of President Trump on the issue of immigration. Do you think she crossed a line . I think she is partly right and partly wrong. She is right that the Barr Department of justice keeps claiming everything is an emergency because when it is emergency, you bypass the trial, you bypass the appellate court. You actually bypass a ruling on merits and Supreme Court give as gut ruling about how they think it will turn out. This issue has to do with whether or not legal, not illegal, legal immigrants can be required to pass a means test before they enter the country. That is not an emergency. Stuart right. So i agree with her. The Trump Administration is claiming emergency when it is not an emergency. However, her personal attack on the motivation of her four republican, excuse me, five republican colleagues has no place in the public arena. If she wants to say to them, in their conferences, are you guys backing him up because you like the president . That is unseemly but it is private for her to make that public demeans the court. Stuart okay. Hold on a second, judge. Here is what President Trump said about Justice Sotomayor earlier today. Listen to this. I just dont know how they cannot recuse themselves for anything having to do with trump or trump related her statement was so inappropriate when youre a just tis of the Supreme Court. It is almost what she is trying to do take the people who feel a different way, get them to vote the way that she would like them to vote. I just thought it was so inappropriate. He is right in what he is saying however there is no provision for Supreme Court justices to recuse themselves. Roger stones trial judge can be ordered to recuse herself because of bias. There is no provision for eight members of the Supreme Court to order recusal of the ninth. Stuart but the president is right. Yes. When Justice Ginsberg attacked candidate trump she was taking a side and aggressively admonished in private by Justice Sotomayor. Now Justice Sotomayor is virtually doing the same thing she admonished Justice Ginsberg doing. Stuart you hate to see politics. I do. Because it demeans the court. It makes them look like theyre politicians in black robes. That is not the american system. Stuart judge, im glad youre fire you had up about this . Pleasure. Stuart we have streaming stories for you, okay . Not enough adult programs. I dont mean sexually explicit what do you mean by adult. Stuart entertainment for people over the age of say 40. Can i say that . They have plenty of kid stuff but not much stuff for older people. That could be a problem. Netflix is introducing a best of list. Details, streaming stories coming up. Trivia question what happened on this day in history . Three clues. It has to do with a big bank. Two, and it happened in 1901 and number three 3, it was the first billion dollar corporation. If you know the answer, email us varney viewers foxbusiness. Com. Ashley and google it. Its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. Oh no, here comes gthe neighbor probably to brag about how amazing his Xfinity Customer Service is. Im mike, im so busy. Good thing xfinity has twohour appointment windows. They have night and weekend appointments too. Hes here. Bill . Karolyn . Nope no, just a couple of rocks. Download the my account app to manage your appointments making todays Xfinity Customer Service simple, easy, awesome. Ill pass. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Stuart quiz time, on this day in history the first billion Dollar Company was formed. What was it . I tell you, it was u. S. Steel formed by jpmorgan. Susan in 1901. Thats right. Stuart of all these companies, they became worth a billion dollars, first time for a billion. Susan merged three Steel Companies into one, carnegie, national steel, first billion Dollar Company. They made 67 of all steel produced in the u. S. Today, that has dropped unfortunately to just 8 of domestic consumption but it has been 100 years, more than that. Stuart one of our viewers got it right. Ron who . Beamer . Ron cramer, faithful viewer from texas. You got it right. Susan can he name the first president . Stuart nice guy from texas, okay . Check the market, we have turned south, okay . Were down 46 points. Not much of a rebound. Check disney, they have a problem with the disney plus streaming service. Tell me what it is. Susan it has been extraordinary, 28. 6 million subscribers in first two months. Problem, adult content you say, you want me to get to it, they have a lot of kids stuff. We knew that, this is about what disney is about. Marvel, superheroes, lady and the tramp. You have to spend on content. Kids stuff, not so much for adults. So at 8 00 at night when the kids go to bed who will stream disney plus . Susan you can watch the mandalorian, that is adult content. The star wars, which a lot of adults. Disney doesnt spend a lot on content which netflix spent 15 billion last year. Disney went 1 1 2, 2 1 2, by the year 2024. 9 million subscribers by the year 69 million subscribers by 2024. Stuart the adults that watch star wars live in their parents basement. That is ugly resume mower. They have a top 10 list, so people anywhere can see what the rest of the country is watching. Is it just netflix titles . Ashley it is supposed to be all titles. But netflix has lost so many titles to disney, universal, warner brothers. They say, know whatever the most popular. They break it down by genre, comedy, documentary, drama, whatever you see. You see what people are watching match it to your taste. They experimented with this last year in the uk and mexico said it was pretty popular. So they will expand it starting today. Stuart okay. Top 10. Listen to this one. It is a nasty story. A hotel on the Canary Islands has quarantined one thousand people after just one tourist was confirmed to have the virus. They are confined to their hotel room. Surprise, surprise. We have the story. Irans Top Health Official is tested positive for the virus. The spread there looks to be almost out of control. Does that threaten tehrans regime . More on that after this. At fidelity, online u. S. Stocks and etfs are commissionfree. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk while our competition continues to talk. Its either the assucertification process. Or it isnt. Its either testing an array of advanced safety systems. Or it isnt. Its either the peace of mind of a standard unlimited mileage warranty. Or it isnt. For those who never settle, its either mercedesbenz certified preowned. Or it isnt. The mercedesbenz certified preowned sales event. Now through march 2nd. Only at your authorized mercedesbenz dealer. Instead of using aloe, or baby wipes, or powders, try the cooling, soothing relief or preparation h, because your derriere deserves expert care. Preparation h. Get comfortable with it. Hey there im lonnie from lonnies lumber. If you need lumber wood, lonnies is better than good. We got oak, cherry, walnut, and more. And we also have the best selection of plywood clattering in the state. Hey highpitched laughter man dang woodchucks wood clattering stop chuckin that wood with geico, the savings keep on going. Just like this sequel. 15 minutes could save you 15 or more on Car Insurance. Stuart pad news from the market, we have turned down 100 points. We were down 1000 yesterday. Separate story, hhs secretary alex azar on capitol hill asking congress for 2 1 2 billion dollars to fight the virus. Edward lawrence is there. What do you have, edward . Reporter he is about right now to sit in front of the Senate Appropriations committee to ask for that money, 2. 5 billion to help fight the coronavirus. 1. 2 billion will go to direct lip to the development of a vaccine. Most of this money is not new money. It is diverted money from the ebola Prevention Fund which is just sitting there. There is 1. 25 billion in new money. There is support from both sides. Nancy pelosi says the president s request for Coronavirus Response fund something overdue and completely inadequate for this emergency. She would go even higher to allow more money. The cdc notified congress they dipped into the Emergency Response fund. The bottom line it will be expensive a fight in order to keep the coronavirus from getting a foothold in the United States. Stu . Stuart got it, thank you very much indeed. Another update on the virus. There are tourists, quarantined in the Canary Islands, specifically on the island of telarif tell me the story. Ashley one visitor from italy, northern italy, one of the most affected areas was tested to be positive. That means there is a lockdown at this hotel, 1000 people trapped in there. Were getting all sorts of stories from the holiday makers they woke up in the morning with little envelope under the door, someone in the hotel has tested positive. Stay where you are. And they say they are getting very little information. They are trapped in there. Surviving on meager snacks and not a lot of food. Dont know what is going on. Getting no information but apparently they have to stay in place. This is just a nightmare for them because before this happened there was a sandstorm in the sahara that basically trapped them in the hotel. They couldnt even go down to the beach because of the sandstorm. They thought finally we can get out but now they have the coronavirus. They could be trapped there for two weeks during the incubation period. Stuart this is brutal. Ashley little bottles in the fridge are running out quickly. Susan mini bar. Ashley mini bar, thank you. Stuart the headline in the New York Times, calling the virus spread in iran a recipe for a massive viral outbreak. By the way, irans Top Health Official has tested positive. He has got the virus. Wall freed pharis, Fox News National security analyst. Walid phares. Maybe im going too far with the outbreak in qom, 50 deaths, spreading all over the place with pilgrims, i think that threatens the regime in tehran. What say you . Most people following what is happening in iran know that already the population has been opposed to the regime on many other grounds. This is a literally speaking this is about a outbreak of a virus that neither iran or any government in the world has found counter to. This could develop into serious opposition to the regime. Not just in iran. I think many other places as well could be challenged. Stuart ive been too qom, many, many years ago but i was there it is a Spiritual Center a center of islamic study. Pilgrims come in and go out by the thousands on a daily basis and according to the times they were still going in and out of this morning. That implies to me you will have a very hard time controlling this thing. That brings me to the point of the major, major issue here in addition to the medical advance and counter, of course we heard about the spending which is important is the organization of that resistance against the virus, meaning governments need to organize their populations accordingly and yes, there are emergency measures should be taken. Of course cultural, religious, other historical sites should follow what is most important, homeland safety for every country. Stuart i want to discuss the relationship between america and India Following the president s visit there. He had this to say about that relationship. Roll tape, please. It was a great compliment. It was a great compliment to our country. Im the leader of the country, but it was a great compliment to our country. But Prime Minister modi said they never had any event like. Usually when somebody comes in they have to look for to fill up the areas. It was something very special. Stuart walid, is the president not using india, that is the wrong word to use, establishing this relationship with india, to balance the relationship with china . Of course it is a consequence to balance with china, to also obtain a major ally in asia around the world. I mean the system of alliances now is growing differently. We have brazil and latin america. We have the Arab Coalition in the middle east. We have india. All of this is providing the United States a tool to be more effective toe counter major issues, major problems. Security, health, of course terrorism as well. Stuart walid, thank you very much for joining us. I do think that the iran breakout is a very important subject. Thanks, walid. Well see you again soon. Check the markets. Maybe investors agree with me. Were down 150 points now. Individual stocks to look at, shake shack. Fall from grace. Why is it down . Ashley samestore sales down 3. 6 a net loss of just over 2 million. The shake shack management saying look, part of this is the pressure on the bottom line because they have been opening so many new stores. 49 new stores in 2019. At least two dozen more this year. Globally, that is. The total revenue was up 22 but the expenses kind of offset that but they say, look, were putting in place these stores. We hope eventually revenue will rise accordingly but are foe the time being the expansion is hurting them bottom line. Stuart that was a surprise. Thank you, ash. Next one, amazon as more bricks and Mortar Stores close up shop, amazon keeps expanding, is it Cashierless Stores . Susan supermarkets. Go grocery opens in seattle. This is larger than the go Convenience Stores. They have 25 go Convenience Stores around the country, seattle, new york, across the country. Were talking about 10,000 square footage. You buy eggs, pairs, apples, you dont have to go to a cashier. Sensors and cameras pick up what you put into the cart. You walk out. Is this something necessarily for amazon to expand in terms of foot traffic and bricks and mortars . Not necessarily. Something they might be licensing out the technology to other stores that might need it in the future. Stuart not helping the stock, look at that. We just dropped below 2,000. Bounce back to 2001 a share. General downdraft. Down 140. Senators are holding a briefing on the virus. Indiana senator mike braun, he is taking part in that meeting. Owe will join us in our next hour. What is Congress Going to do about the virus . First, Bernie Sanders clearly surging, tops at least one poll in the battleground state of pennsylvania. That is a fracking state and bernie wants to ban fracking out right. How will that work out for them there . Were following it. More varney after this. So what are you working on . Im searching for info on options trading, and look, it feels like im just wasting time. Wasted time is wasted opportunity. Exactly. Thats why Td Ameritrade designed a firstofitskind, personalized education center. See, you just oh, this is easy. Yeah, and thats oh, just what i need. Courses on options trading, webcasts, tutorials. Yeah. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well exactly. Well except now, youre binge learning. Oh, i like that. Thank you, i just came up with that. Youre funny. Learn fast with the Td Ameritrade education center. Call 8662851934 or visit tdameritrade. Com learn. Get started today, and for a limited time, get up to 800 when you open and fund an account. Thats 8662851934, or tdameritrade. Com learn. Stuart were down 168 i think it is. Were down all the way across the board after the big selloff yesterday. Here is one of the reasons why things are going down. Look at that. Yield on 10year treasury, im absolutely sure that is alltime record low, 1. 333 , down four basis points. That is extremely low level. That says, tons of money is going into u. S. Treasurys, flight to safety. Price up, yield, way, way down. There is this from jpmorgan. Theyre not going to dole out loans to drillers in the arctic anymore. This is Climate Change . Ashley it is a Climate Change, a little bit of pressure, critics say there is lip service too. There is not a whole lot of oil and gas activity in the arctic anyway. They will finance oil and gas extraction with Coal Companies who have alternative Revenue Streams. Also continue to support fossil fuel projects in the mainland u. S. Theyre kind of saying yes but they say the actual commitment maybe not as great as the headline. Stuart yeah, yeah. Good pr. Ashley exactly right. Susan Goldman Sachs did the same thing earlier. Stuart thats true. New polling from pennsylvania shows Bernie Sanders beats mr. Trump 4844. Can you believe that . 4844 . Bernie sanders beats the president . Dan muser, a republican from pennsylvania a congressman there i dont get this. Pennsylvania is a fracking state. Sure is. Stuart bernie would ban fracking. I dont know who they are polling. The president is extremely popular. He kept promises. Hasnt lost a vote. Fracking, Bernie Sanders, Elizabeth Warren feel it is a great idea to ban fracking. Fracking, natural gas adds over 500,000 jobs to the pennsylvania economy. Stuart 500,000 . Not directly but indirectly . U. S. Chamber says closer to the 600,000 directly and indirectly but it is so much more. Its jobs. It is 80,000dollar a year jobs. Its, creates entrepreneurialism, stuart. I mean america is based upon the entrepreneur, on the private sector. I mean these socialists frankly who are running for president are everything against the private sector. We need to drive this we have people that have taken up electricians and carpenters, gotten into the fracking business. Bought trucks for deliveries. Now theyre expanding. Theyre adding more. Very hard to put a value on that, thats whats happening and it is more. I had an older gentleman say the other day to me, because of natural gas my son can live here, rather than me driving six hours to go watch my grandson play baseball, everybody is here. It is building pennsylvania. Pittsburgh is thriving, largely because of the natural gas. It is bringing in technology companies. It is bringing in Health Care Companies from the southeast. I dont know who theyre polling, pennsylvania is trump country. Stuart understood. There is another thing on natgas. The courts stepped in to stop a pipeline that would go underneath the appalachian trail. They will try to stop all the pipelines going underneath the appalachian trail, they take cheap natural gas to the states in the northeast. The courts are stopping this. I cant believe. We do the everything we can to stop private sector growth occurring and our natural gas development. We pay, our homeowners have 40 less heating prices than you do here in new york. Stuart thats true. And in new england. Build the pipelines. Let Governor Cuomo allow the pipelines to be built. We, they will cut their heating, their natural gas price in half and it will, it bill grow because of that, and the overall economy. People have more money in their pockets. That stuart look, natgas and frack having turned out to be, i think a very significant issue, not just in pennsylvania but nationwide. Even worldwide. I mean, believe it or not, new england had russian natural gas delivered not too long ago because of the jones act that exists not to get into that. We have to get our act together and we need to be serious and the president is and the Republican Congress is, and we work together, hopefully we do in the next congress, the next four years on trade agreements, natural gas. It is a very regulated business. You know were the only industrialized nation in the world that lowered our Carbon Emissions the last two years. Stuart how did we do it . Natural gas. Private sector innovation. Not the heavy hand of government. Stuart right. What would happen to pennsylvania, give me 20 seconds on this, if you cut fracking in pennsylvania, what happens in the state . State revenues would dough klein 2 1 2, 3 approximately dollars a year. That is out of a 30 billiondollar budget. We would lose 500,000 jobs. The state would go dark. We would, heating prices would go up. It is absolute disaster. We have 6. 1 million jobs as it is. Losing 500,000. The unemployment would go to 13, 14 . That is what Bernie Sanders and Elizabeth Warren plan on doing. Stuart keep pounding the table. We dont want to see that. We will. Stuart thank you for joining us. We appreciate it. Great. Stuart the media found a new reason to bash President Trump. What do you think the excuse is this time . Ill tell you, the president s diet visiting india. Can you believe this . Kilmeade will chime in next. Lets get down to business. The business of hard work. Hustle. And high fives. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. Can you help keep these iguys protected online . . Easy, connect to the xfi gateway. What about internet speeds that keep up with my gaming . Lets hook you up with the Fastest Internet from xfinity. What about wireless data options for the family . Of course, you can customize and save. Can you save me from this conversation . That we cant do, but come in and see what we can do. Were here to make life simple. Easy. Awesome. Ask. Shop. Discover. At your local xfinity store today. Some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Stuart if youre just joining us, looking for a rebound pro yesterdays loss youre not seeing it. Next case, Bernie Sanders is offering a promising free college for everybody but there is a school in california that is delivering. Susan . Susan usc. Stuart really . Susan for families that make less than 80,000 you could be eligible for free tuition, if you make it into the opening class. That is more aggressive than harvard or stanford. They have thresholds of 150,000. Usc is private institution. Endowment of 1. 5 billion. California, median salary is 71,000. A lot of people actually qualify. They say 6600. So a third of the class that go and i guess, try to get Financial Aid will be eligible for this. Stuart okay, got it. Next case, kilmeade, were joining him now with the Brian Kilmeade radio show. Brian. The medias latest obsession with the president is his eating habits. I dont have the headline for but, he likes beef, doesnt he . The man likes ashley steaks. Stuart trump braces for a beeffree menu in india. That is that the only thing they have got going for them here . Couple things. Very rare for a billionaire to be comfortable at drivethrough window for all three meals. Not even exaggerating. But number two, is this, he eats meat and modi does not. So they want to focus on that. Why not . Havent we seen this before, stuart . When things are going well, they focus on something else. He has a threeday trip with the number one democracy in the world. Certainly the most populist, a hedge to china, pushback on russia. We had military exercises a few months ago, we have flatout, there is a bond between these two leaders. So rather than focus on that, how 125,000 people in a democracy would show up at a cricket stadium just to cheer his name, lets focus on the dinner. Stuart really. Menu. Im not falling for it. Stuart neither am i, actually. All right. We got to talk about joe biden. He is going into the debate tonight. He has made another gaffe. Roll tape, please. Where i come from you dont get far unless you ask. My name is joe biden. Im a democratic candidate for the United States senate. Look what you over, like what you see. If not, give me a look though, okay . Stuart as you can tell he is not a candidate for the senate. He is president ial candidate. You cant keep on doing this coming out unscathedded in the debate. This is it. He might decry it is not his firewall but South Carolina is his firewall. Why he went from 20point lead to 4 point lead in the latest poll. Joe biden has to perform to turn it up. Weve seen candidates step up to the spotlight and shine, he is not one ever them. Every time the spotlight gets on him he absolutely shrinks. He said yesterday he worked with Deng Xiaoping on the climate deal. He died in 197. The paris deal was an issue. He did not get arrested with andrew young for the release of nelson mandela. Andrew young was there, nobody was arrested. Didnt appear in the biography, he would throw that out to get the africanamerican voter, secure it, which he did have by about 15 points. Almost a deadheat with socialist Bernie Sanders. So listen, a lot of times politics, we have the wrong message at the wrong time in america. It is not the wrong message. This guy has been a terrible candidate from day one. It is mystery to me how he was even a frontrunner for as long as he was. He deserves the crater he is in right now. There is no way to dig out of it. He has got no message. He is not eloquent, he is not clear, i still dont know why he is running. Stuart i think he is done frankly. That is just my opinion. Before you go, one more for you, seattle wants to get rid of gifted student programs because they say they are racist. Go for it. Well, i have walked by a classroom full of gifted students, as close as i have gotten. That is ridiculous. That is like no more first place trophies. That is why we cant have an mvp. Of course you do. There are things that you do better than i do. I dont know what they are, stuart. Im sure they are some. You deserve credit for doing that. In life we compete on a daily basis. We have to get over the fact sometimes you lose and sometimes you win, get, just go ahead and get your hands dirty, go compete and go sweat, even when you dont have gym that day. You get rid of gifted students, you get rid of the gifted students in seattle. You will not get rid of gifted students. They will go elsewhere. Stuart hear it for dynamic, competitive democracy. Brian, appreciate it. I have to end this, get off to the market. Weve taken another leg south. Look at this. Now were off 268 points. The dow at 27,600. We have a 1 loss on the s p. And a 1 loss on the nasdaq. Were falling, not quite as badly as yesterday but we are on the way down as we speak. Michael bloomberg, spending nearly what, a half billion dollars on his campaign . Will it work . Spending all that money in doug schoen, pollster for bloomberg, next. Democrats debating tonight in South Carolina. Bernie sanders will be the target, the big one. Well discuss that one coming up on my take as well. Later in the shoaf. Show. Flexshares may look simple on the outside. But inside every etf. There are untold hours of careful construction. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. For a prospectus containing this information. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Youve been hearing a lot about 5g. But theres 5g. And then theres verizon 5g. Were building the most powerful 5g experience for america. Its more than 10 times faster than some other 5g networks. And its rolling out in cities across the country. So people can experience speeds that ultra wideband can deliver. 1. 7 gigs here in houston. 1. 8 gigs here in frigid omaha. Almost 2 gigs here in los angeles. Thats outrageous. Its like an eightlane highway compared to a twoland dirt road. Ashley shut up and drive. Stuart i will say tonight is attack night in democrat debate in South Carolina, Bernie Sanders will be the target. Everyone will be attacking him. Boy, do they have a lot to go at. Bernie just repeated praise for fidel castro. He taught people how to read and write so hes won good communist. Thats what president Bernie Sanders would do here. Is america really for that . Bernie just issued a new plan on how to pay for all federal government giveaways, one item from it. He would sue the fossil foul industries, he thinks that would bring over 3 trillion, here is the attack line there, is america ready for 10dollar gasoline because if youre going to take trillions off the oil business, you will pay more, a lot more at the pump. Bernie will also kill franks which produces natural cheap face that heat our homes, you want americans to freeze in their homes in winter while they wait for your renewables, bernie would attack, why are you hurting 100 million americans with 401 k or ira, thats our pension money, yes, theres a lot to go at and you can be sure the other candidates will attack vigorously. The rest of the party is squared to death but bernie is running away with the nomination and tushing it into a socialist party and thats bernies single achievement. After a lifetime in politics, he has produced very little legislation but what he has done is move his party to the far, far left. He has ruined his party and he will run the economy, have at it democrats, you only have your party and your country to lose. Lets get straight at it, heavyhanded here, if bernie gets the nomination, what happens on the market . Well, the stock market goes down for sure and even if bernie gets the nomination i think in the battleground state of florida, that President Trump would guaranty, would be guarantied to win because no way even democrats in florida would vote for even Bernie Sanders because they are in uproar congressman fernandez who is a democrat saying that President Trump would most likely win and telemundo had a survey that President Trump would win over socialistly socialist at 41 . Stuart roll that tape, please. You know what he did, initiated a major literacy program, a lot of folks in cuba at that point who were illiterate, he formed the literacy brigade, you may remember, they went out and helped people learn how to read and write, i think teaching people to read and write is a good thing. For the democrats who think that fidel castro destroyed freedoms in the country, truth is truth. Let me follow up with that politico headline, florida dems in uproar after sanderscuba comments. Heather, you do live there, youre telling me that Bernie Sanders absolutely would lose florida for the democrats . Absolutely. I live in an area thats predominantly latino, i married into a family of cubans, thats why im here, my family is cubans, castro stole and came in and took everything from my fatherinlaw who was poor and my fatherinlaw had textile business and castro regime comes in one day and this is how socialism works and take everything, some people were illiterate at the time my inlaws say they were not illiterate so Bernie Sanders should stop saying that everyone is, he comes in and they will take everyone from you, they take all your freedoms away, theres no freedom of speech, you cannot speak out against the regime or youre jailed, put in prison for life or shot and killed. I dont understand the millennial generation doesnt understand that. Stuart neither can i. Look at the market, down 250 points after thousand drop yesterday, would you be buying anything right now . Youre probably getting your list out and see if theres bargains like microsoft which you love at this point in time, i do think theres potentially more little bit more selling to come in the markets, not because the economy is weak, the u. S. Economy is on solid footing right now as you know, but the coronavirus could spread further, its a huge disruption in manufacturing and supply chains around the world and bawls we are all interconnected i would wait. Okay, you would wait, got it, heather, thanks for joining us, very important day, appreciate it. Thank you very much, indeed. Better look at the market because we are now down 276, 279 points and the trend is lower this morning after a sharp, sharp selloff yesterday. Look at shake shack, they say the drop in stock price down 12 is because they focused on opening more stores to rapid expansion and thats hurting them now, they are down 12 , 64 bucks on shake shack, macys, the stock is now lower to the tune of 57 cents, thank 14 a share, we do have a bright spot and that is home depot, strong Holiday Season and they are very positive about sales from home depot this spring, is this because the Housing Market . Ashley it is, the latest report has profits up 5. 8 , thats year over year, revenue was down but still better than expected, you look at the comp sales up 5. 2 overall, up 5. 3 in the u. S. And they always look at the average spending per transaction which is critical, its gone up 4 , 68. 29 per transaction, and then they look at sales per square foot, that is up almost 3 , so everywhere you look with home depot reflects what youre seeing in the Housing Market and they also for fouryear guidance comp sales expect today grow another 3 and a half to 4 looking out, so all of this speaks very well to the Housing Market. Lauren they are sending a lot of money getting their delivery operations more in line with what people need, boosting online business, that comes with a hefty price tag, that inhibits them, when they get to the point where they can get a local contractor, he can pick them up where you can deliver them that would be another added line of growth. Stuart we did have news earlier this morning that home prices, the selling price of homes is moving up quite nicely. Ashley yes. Stuart that suggest Strong Demand for housing, suggest the housing pickup, no i have no doubt that home depots performance is part of this as well. Ashley absolutely. Lauren increased dividend by 10 . Stuart down more than 300 points, the selloff continues, down 304 for the dow, 36 down for the s p, 104 points for the nasdaq composite, i have to believe that tech stocks are taking it on the chin, they brought the brunt of it yesterday, i dont know if we can get it on the screen but i would like to see the maga stock screen, we have apple, 293, well above 225, 226. Google is down 1,400 a share, whoa, amazon well below 2,000 a share. Ashley keep an eye on the 10year, whats interesting gold is off today, the money is not going into gold but treasury prices are going up. The yield tumbling at 1327 on 10year. Ashley 1. 800, record lower theory. Stuart classic flight to safety. Ashley yeah. Just jumped back up right around 1. 33. Stuart we have the maga stock, microsoft is the winner, look at the level, 171, it was at 190 a couple of weeks ago, apple to 293, alphabet 1400 and amazon 1987, disney news streaming service losing steam, we will explain why some experts say disney plus has likely reached its peak already. Kt mcfarland will join us its all about the president s political rise and how she was treated because of he was affiliation with the president , she was treated badly, shes on the show. Democrats with a new line of attack against the president. His response for the coronavirus. We have a crisis of coronavirus and President Trump has no plan, no urgency, no understanding of the facts or out to coordinate a response. [laughter] stuart okay, you can guaranty the president is going to respond to that and he did, it was a forceful response. We may see him this hour by the way. Varney company, third hour just getting started. Stuart the administration is asking congress for 2 and a half billion dollars to fight congress, that was not enough for Senate Minority leader Chuck Schumer. We have a crisis of coronavirus and President Trump has no plan. No urgency, no understanding of the facts or how to coordinate a response. We must get a handle on the coronavirus, but the Trump Administration has been asleep at the wheel. Stuart really . Well, the president fired back on that one on twitter, quote, crying Chuck Schumer is complaining for publicity purpose only that i should be asking for more money than two and a half billion dollars to prepare for coronavirus. If i asked for more he would say its too much, he didnt like my early travel closings but i was right. He is incompetent. Indiana senator mike braun with us now, what do you say about the administrations response, how about their performance, what do you say . Well, i was in the top secret briefing at 8 00 oclock and i didnt see chuck there. He was probably out using that game plan. I think when you say Something Like that, when i listen to the department of homeland security, the cdc, the fda, National Institute of health totally different picture, it looked to me like it was the, you know, picture of preparedness so i think the one thing you need to look at, stu, is this occurred in a place that was ill prepared, china when this thing exploded and it is a coronavirus, its something that we cant take likely but are we getting all of the information correctly from there, i do know in other place that is the fatality rate is maybe onethird of what we have heard over there. Theres a lot of disinformation and for Chuck Schumer to go out and say that and i dont think he was at the briefing this morning, i didnt see him there anyway, to me that is their game plan, you dont like the policy, you dont like the approach, you just say ill prepared and you make these kind of arguments that dont make sense, the public fees through that. Stuart health and Human Service secretary alex azar expects more cases to be reported in the United States, there are 53 already and those people are quarantined but he says there are more to come. You comforted them all with the administrations plan to deal with this. Thats including the cruise ship individuals that are thank goodness back here in the u. S. , weve got the infrastructure from everything that we do that is going to enable us to be ready for this and i dont think this version of coronavirus is going to be the last time we have a pandemic like this, so i think when it originates in a place that is ill equipped, thats how it catches stride and we can never take it too lightly but i think thats pure political maneuvering on the part of Chuck Schumer when everything so far looks like we are prepared and if we need more funding i think every senator, most representatives are going to be there willing to do it if we need more than its already been set aside, mostly posturing at this point, stu. Senator mike braun, republican from indiana. Youre welcome. Stuart thank you. The virus in italy halting business especially in the northern part of the country including the filming of tom cruises latest movie. Ashley Mission Impossible 7, i kid you not, Mission Impossible 7, unfortunately he was in venice which has been kind of the ground zero areas in northern italy of where this epidemic has kind of raised its head and hes apparently trapped poor him in a 5star marriottowned hotel called palace, trapped in there and will have to remain there until Authorities Say no more, theres no reports of anyone within the cast or crew of the movie being infected with the virus but nevertheless its shut down filming and cant go anywhere but stay in place. Stuart thats it, you can get trapped just by being there, having somebody anywhere near you who has been to china, you can be trapped an stuck for 2 weeks. Ashley yeah. Stuart not good, not good at all, the virus, how about this one, the virus is hitting the money moon industry, lauren, explain, please. Lauren and the wedding entry and you book a wedding in a honeymoon year out, somewhere far, you have time off from work and getting slammed if you go italy and Canary Islands in spain, thailand, cambodia, people are changing plans at last minute maybe shooting for australia or new zealand maybe somewhere not as affected, if you can rebook, thats fine. No one has a handle of how bad the coronavirus really is and people are getting squared of quarantine. Ashley 5 countries in europe reporting cases, austria, spain, switzerland, croatia and, of course, italy. Stuart okay, and the market is reacting to this, we are down 356 now, going to tell you about clorox. That stock has been going up yesterday gone up more today, of course, homes and hospitals will probably use more of those disinfecting wipes to fight the virus, the company is one of the leaders in the s p this week, clorox 168. Tesla, new cyber trucks, makes no difference to the stock, china exposure, down 44 bucks, 789 on tesla. Twitter suspending thousands of probloomberg accounts for socalled platform manipulation, we have a former twitter Vice President to react to that. Its my nightmare, exaggeration here, coming through a new baby yoda would be happening, we will explain after this awesome internet. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart this i believe is the low of the morning, now down nearly 400 points, add that to yesterdays thousand point decline and you have a sell off. Here is one to have reasons why or consequences. Look at that, the yield on the 10year treasury, thats called flight to safety, money coming out of stocks with risk going into the treasury market where theres no risk and we are down to 132 on the yield. Ouch. Disney, they are making the impossible burger the preferred plantbased burger of disney world and Disney Cruise line, thought you might want to know. Experts say disney plus may have reached peak, whats that all about . Ashley everyone dived in when they had 10 million, 28 million at the end of 2019, they believe it will rise to 40 million by the end of this year, netflix has 167 million around the world, disney is expanding into europe so it will pick up subscriptions there and the other reason lack of adult programming. I dont mean, you know, triple x rated, im talking about the original who is laughing . Most of the original is geared towards children, lady and the tramp, the marvel hero project, all of it geared towards children and once adults have enjoyed, theres not much else to pick through. Stuart is that the one where star wars yoda appears . Ashley exactly right. Flood you said that. Stuart Lauren Simonetti is here and has a look on her face, look, stuart, this is a baby yoda. You got one . Lauren i do. An opportunity for mattel, you cant buy this yet, they were able to license this, the First Company to license, plus toy, 2 and a half billion category and this would be the first plus that you can buy in store 25 in april. Stuart is that the baby yod . We are the first ones that have it . Lauren no, you cannot have it. April. Ashley good luck, lauren. Stuart we have emails on this, weve got this from dave in ohio, he says what did baby yoda ever do to you, mr. Varney, hes such acute little creature, breaks my heart, you consistently hate on him. Give him a chance. Give babyyodaachance. Ashley youre breaking hearts, stu. Stuart by the way, thanks, dave, for the wonderful comment, i dont hate this thing but i wouldnt buy it, okay, are we done . Move on. Ashley expression on yoda. What did i do . [laughter] stuart amazon, they want to kill the checkout line in super markets, they are opening their first cashier super market. We will take you there. Bloomberg joins the attack, a ton of money to take out Bernie Sanders, we will tell you how hes spending his money and how much of it hes spending. We will be back. I have an idea for a trade. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade for a strategy gut check . Whats that . You run it by an expert, you talk about the risk and potential profit and loss. Couldve used that before i hired my interior decorator. Voila maybe a couple throw pillows would help. Get a strategy gut check from our trade desk. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. 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 look at the market, its going down again, down 300 points. I would point out that health and Human Services alex azar says the virus has gone into italy and worried about the virus now in iran. Something that we have been reporting for a couple of days. I do believe that the iran outbreak is a factor in todays market decline. Lets get to 2020 race, Mike Bloomberg spent what, half billion dollars on ads. Jackie dengelis, hes focused on taking out Bernie Sanders in latest ad spending, stuart. The last time we talked about this it was more than 300 million, his ads jump today 500 million reportedly. Thats just a massive amount. I think what he realized after nevada is that bernie is a formable candidate and he needs to go after him. So he started with things like attacking him on gun his record on gun violence, gun laws, for example, but a lot of people are saying you should have done that on the debate statement. Its too late for it now. We reached out to Bloomberg Campaign to ask them about this. They have not respond today us and the questions that if you look at the markets, yes, a lot is coming down to coronavirus but some of it and we have to, you know, sort of figure out what the proportions are come down to the fact that sanders seems like he could get that nomination in and the markets dont like it. Stuart lets reach out to michael Bloomberg Campaign doug sean. You work for the campaign . I do. Stuart is it too late . Well, first im not sure that its going to happen the way it was described but weve got about a week, 8 days to super tuesday and in politics, 24 hours is a long time much less a week. So i dont think anything is too late, the big issue is how mike does tonight. Stuart yes, it is. I will play you a little clip from the last time you were on the program and this was before bloombergs first debate in nevada, roll tape, please. Sure. Stuart you will be watching tonight obviously . Obviously. Stuart do you think your guy is going to win . I think he will provide and produce a spirited defense of his policies. Stuart hes got to perform well on television. Youve got to perform well on tv to do well in american politics these days. Ive worked with him in the past on other debates, he rises to the occasion. Stuart okay, without pushing you into a corner, but i take it hes practiced long and hard this time around . He has and he had last time. Look, it was a difficult format, he had not debated in 12 years. He got attacked by virtually everyone on the stage especially bernie and Elizabeth Warren. And hopefully this debate they will not gang up on him, theyll talk about the issues and maybe talk about the front runner senator sanders. Stuart has he improved his performance . I mean, you can train for that. Im surprised he hasnt trained harder. He has been trained harder. Stuart locked over the weekend and training and training. Has he been doing that . Hes been in orlando training, training, you will see a better and certainly more spirited as i said before Mike Bloomberg. Stuart you will guaranty that . Im saying that im anticipating and expecting and hopefully youll have me back so i can play some tape and show that i was right. Stuart guarantied that youll be back. Leaked audio of bloomberg slamming the progressive movement, watch this, please. [inaudible] Elizabeth Warren on one side. [inaudible] endorsement of obama. [inaudible] romney would be a better person to doing that, but romney did not stick with the values when he was governor of massachusetts. I thought the democrats would [inaudible] stuart man, attacked democrat iconic, president barack obama. He did endorse him and running a special where he speaks about work together. No secret that Mike Bloomberg has had problems at different times with both parties and i think its frankly a healthy thing that he is a candid analyst of the american scene and trying to make the best judgment he can given his doubts about both side. Stuart last time you were on the show you were in attack mode, this time i think youre playing defense. Im trying to answer your questions. I was always enjoyed a spirited discussion with you, stuart, and i think this is nothing more than that. Stuart good luck, doug. I will be watching tonight. Me too. Stuart staying on bloomberg, twitter suspending 70 twitter accounts. Thanks for having me. Stuart im not quite sure about manipulation, do you think that twitter should have banned the 70 posts or whatever it is . Well, i think theres always been a history of people recognizing the power of social media and trying get the benefit and probably the first people to use it were Justin Bieber fans, harry styles fans, one direction fans, people realizing that if they group together they can make things trend. I suspect it looks in the same spirit. Stuart okay, would you agree that social media is climbing in terms of importance in the election . I think its unequivocal that any candidate who wins needs to be good at the new tools of the internet. Social media and all parts of it. So i think we are recognizing that the candidate who is are standing in and out the democratic primary are using social media well and weve always known the same about President Trump. Stuart worthwhile spending money on social media, you have to do cincinnati. The critical thing to social media is you need to get the tone right. Stuart wait a second. Wait a second. Stuart trump on twitter, hes got a very harsh tone, i think it worked. The interesting thing if you look at President Trump at real allies and rallies, fail one and the same, the candidates are someone who writes tweets for them, they try to bring humor to what they are doing and yet when you see them in real life they come across as far more dry and lacking in substance. Stuart youve an englishman . I am. Stuart from birmingham. From birmingham. Stuart you dont have a birmingham accent . I have one it isnt well regarded accent in the uk. Stuart i will not try to imitate it. How do i sound . I would say southeast uk, where youre from, darb, midlands. Probably diluted a bit. [laughter] stuart terrific, absolutely terrific, quickly, you wrote this book, eat, sleep, work repeat, 30 hacks for bringing joy to your job. Is that written for millennials . You know more than anything its written for everyone. Its a strange things that at jobs increasingly are leaving Us Office Workers are saying they feel burnt out, worst with teachers, worst with firefighters, i think the way we are working right now is just is making more and more of us feel exhausted and might be that some of your viewers and a feeling that, you know, their son or their daughter when they come in, they just look worn down. Stuart thats the english perspective. Youre european, you work out of necessity and not work out of joy. Americans work out of joy because they want to make a lot of money and move up the food chain. One of the stats i saw since we had email on mobile phones and felt like joyce, the first time we got email on phones it felt like it was going to free us up from doing work at work and the average working day has gone up by 2 hours a day. We find ourselves just feeling like we can never escape work. American who leads stay connect today phone works about 70 hours a week, its no wonder. Stuart thats america. We want to get up in the world. We will take on the extra responsibilities because we like to move up to food chain. When are you going back to england . Thank you for that. [laughter] stuart im very sorry. Im ashamed of myself. The book is, let me say it again. We will let you off the hook because youre a pinky blinders fan, stay in america, son, we appreciate it. Thank you. Netflix launching a top 10 list that shows youre the most popular movies and shows. Not all netflix titles so you can scan what everybody else is watching. I kind of like that one. Zoom video communications. Online meeting service. Up this week on the virus worries. It lets you have meetings with people within coughing range. Down today, thats netflix, im sorry. Which one was that . Zoom actually hit alltime high earlier today. Currently its up about 1 . Okay. Check the credit card companies, they are all down, the virus again, spending expected to decline as the virus spread. Look at that, percentage declines, master card down 4 and a quarter percent. Up next something different,kt mcfarland, she was there and badly treated, not by the trump people but i think some administration, anyway, we will have more on that, shes on the show. And speaking of the president , old sparks flew at the press conference with jim acosta from cnn, the once and future clinton news network, we will show you that exchange after the break. How can you justify to the American People having an acting dni with no intelligence . First of all, i want no help from any country. I havent been given any help from any country and if you see what cnn, your wonderful network said, i guess they apologized in a way didnt they apologize for saying certain things that werent true. Tell me, what was their apology. President trump our record on delivering the truth is a lot better than yours sometimes. Your record is so bad you ought to be ashame offed yourself. Im not ashamed of anything and our organization is not ashamed. Stuart the worst record in history of broadcasting. That was the president going at it with jim acosta, the cnn guy. K, the mcfarland, former National Security adviser, your comment on that exchange before we get to your important book, what do we have . Im just stunned, i shouldnt be. The level that the United States press corp. Which hates donald trump with a passion is willing to go to not just they hate trump or love ratings, what this is all about is jim acostas ratings, where is this guy going to be without donald trump, i dont know, probably High School Newspaper peddling something. Stuart ratings are in the tank. Well, good. Stuart despite of kim acosta. Let get to the book, i have it in front of me. Its called revolution. Trump washington and we the people. Now, ive read it briefly, a scan of this, i want you to tell our audience how you were treat bid the mueller people because it wasnt good, go. I was in the Trump Administration. I was one of the first people to support him and after 25 months i left 5 months i left washington, one morning knock on the door, cell phone conversation, right outside, can we come in. I was home alone. I said to two fbi agents who then announced that they were with the mueller probe. I said well, i never met with any russians. Im surprised that youre here but i want to get to the bottom of what the russians were up to more than anybody else, im a Foreign Policy expert. Come on in. They treed today ask me a series of questions at the beginning i said, do i need a lawyer, am i in some kind suspect in something . Oh, we cant tell you not get a lawyer but we are here just to ask you a few questions, youre a fact witness, we are not investigating you, so just give us the lay of the land, what was the thinking around the administration and during the transition, several hours later they leave, the lead fbi agent said, well, thank you you have been so generous with your time. This has been good for us but its been good for you. That should will be my red flag, i meet with them again and again several times. I consulted with lawyers. I didnt have a lawyer lined up for this and we all agreed that if i lawyered up it would look like i had done something wrong and i hadnt done nothing wrong. At the end of this, the Mueller Commission seized all of my records and other peoples, text messages, phone conversations and then they have them in 6inch notebooks and they would go through day by day, minute by minute whats this text message about, what about that phone call, who did you talk to. Well, i said can i have access to my files, can i see what youre looking at. No, no, thats not how we do things. They were essentially quizzing me on my record. If i had made one mistake, if i got the day wrong or phone call wrong or who was on the text message, then they could turn to me and say, well, you know, we dont believe that. I had to prove to them that i was innocent because they had all the power, all the records, all the resources, i finally got the worlds best lawyer in the country, bob had litigation at sullivan and caldwell and they set me up. What they wanted to do is find me guilty of some crime, figure it out later what, but essentially to have me turn in trump because they wanted me to be the missing link between donald trump, mike flynn and the russians, they then said to me, you know, basically let me have a choice and my choice was at the end where i said, well, you will have to charge with somebody, im not going to lie or plead guilty to a crime that i didnt commit and i knew that i might face bankruptcy and years in litigation. In the end they left me alone when i couldnt give them what they wanted and they moved onto porn star queen. At that time i was traumatized and fled the country. Stuart extraordinary suffering on your part from the mueller people. I wish we had more time, im glad that you have given me the book. I will read it. We will make the point that you were disgrace think by american authorities. Thank you. Stuart you welcome, kt, thank you very much. I will. Stuart lets change the subject completely. Ashley wow. Stuart i want to talk amazon, they are expanding that are Cashierless Stores. Good way to change subject. Ashley popup Convenient Stores to 700 square foot super market that has not cashier and what you do is they have a kiosk, you walk in and scan your code on your smartphone and you walk and take things off the shelves and a series of cameras that follow you and then theyll add up how much you pay and they will take it from your account. Stuart President Trump right there leaving india, hes about to Board Air Force one, that is in the airport in new delhi. He will then go on his way to germany before returning home, im not sure what he has planned in germany, whether to stop over and refueling, i dont know, but thats what hes doing. More young people renting private rooms with communal areas, think of it as college dorm life after college. How much does it cost . Is it worth it . We are heading to brooklyn in a moment where we got to see one household. Discomfort back there . Instead of using aloe, or baby wipes, or powders, try the cooling, soothing relief or preparation h, because your derriere deserves expert care. Preparation h. Get comfortable with it. As someone with hearing loss i know what a confusing and frustrating experience getting hearing aids can be. Thats why i founded lively. Affordable, highquality hearing aids with all of the features you need, and none of the hassle. I use lively hearing aids and its been wonderful. Its so light and so small but its a fraction of the cost of the other devices. They cost thousands less. Its insanely user friendly. You take the hearing test online, the doctor programs in the settings. You dont even need to go into an office. Theyre delivered to your door in a few days and youre up and running in no time. It connects via bluetooth to my phone. You can stream music and you can answer phone calls. The audiologist was so incredible shes full of all kinds of little helpful hints i love it. Theyre a game changer for me. I feel like i can take on anything. It feels great to be in control of my hearing. Better hearing has never been this easy. Try lively riskfree for 100 days. Visit listenlively. Com [ fastpaced drumming ] and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart adults are now living in communal housing like, you know, College Dorms but after college. Kristina partsinevelos is in brooklyn visiting one of the places i do declare, why are they doing this and how much does it cost . Okay, well, they are doing it because its a trend now with younger generation, very expensive to live in large mote poll attended cities and often people want a community where they can connect, right now in coworking space operated by vin, you spend around 1100 to 1,300 for an apartment room in one of their buildings, more specifically in this room you get wifi, you get you tillties, you get shared living space, living kitchen, coworking space which im at here. You also get access to invent space event spaces and they choose developing neighborhoods and have access to activities like pod lucks, dancing, i heard about groups working out together, i spoke to one member, daniel, who talked about the importance of what this means to him since hes a new person in new york. Listen in. I just moved to new york and its although very nice and everything it can get intense from time to time and depressing, so i think having people around me who are in the same shoes as i am i think is great because you always have, you know, youre not trying to solve your problem by yourself. Youre trying to live together. So, stu, you live together, you pay anywhere between 1100 to 1,300 for a room and when you compare the average price in brooklyn you are saving because onebedroom apartment is 2700 or 2400 specifically, definitely cheaper but you have to share with roommates. Ashley thats you, stu, all over. Stuart good lord. Thank you, kristina. My eyes have been opened. Id rather live in a tent. [laughter] lauren me too actually. Stuart lauren, youre all right. Lauren expensive too. Stuart the mass exodus from hightaxed states is driving boom in secondary luxury Housing Markets. Lauren right, so rich people and Companies Moving out of california, for instance, the highstacked states are going to lowertaxed states and cities and as a result they are getting more expensive, boise, idaho, charlotte, carolina and fort worth, texas are seeing higher prices not necessarily for those who live because it becomes more expensive for them. Stuart we hear you, lauren. More varney after this. Stuart up 21 . They announced a 1. 6 billion Opioid Settlement paid out over eight years. Once you got the number you know what you have got. Were still suffering from the hang over of the virus. Were down 200, 300 points, adding on to yesterdays 1000 point drop. Do either of you think Bernie Sanderss progress is hurting the market now . I dont think it is. I think you can make that argument that owe is doing very well in the polls. Tonight you have the big debate, the last one before super tuesday. If he has a good dedate, could see one of the reasons market going down tomorrow. Ashley i dont believe the market actually believes that Bernie Sanders can beat donald trump. Dont think that is true at all. Stuart market jitters if bernie gets the nomination but no way he will win the election . Parallels to trump when it comes to energy and under enthu. Stuart i remember that well. Neil remember in the carter administration, no way reagan could win or no way donald trump could wing. Be careful that consensus. You never know. Dont get me started on lincoln. Great show. Thank you my friend. You are seeing extended losses from yesterday. The dow 6 from the high. This market is waning, begging for a correction. Certainly enough developments today to signal in that direction. The cdc is saying telling americans to prepare for the spread of the virus. It is leaving out how much of the spread but the 53 cases we know of already in the country,