Transcripts For FBC Varney Company 20141121

Smile, Varney Company is about to begin. Stuart oh, check that big board please. This is another record day. 130 points higher as we speak. Pretty much the same story for the s p 500. It too is on its way to a nice new high i believe, up. 7 . 2067. Let me show you the biggest name of them all, another new high, only just up, up more than this earlier. That is apple at 116, up two cents, 116 per share right now. Please dont forget oil. It moved up to 76 a barrel this morning. That is still pretty close to the fouryear low. Gas down more than a penny overnight. In fact it dropped almost two cents. The National Average for a gallon of regular, smile, please, 2. 83. All right, weve got a whole long list winners among the dow 30 industrials. Nicole, give me that list, please. Theyre easy to find the winners. I love urbaner there, china rate cut equals u. S. Rally. No doubt. The dow and s p hitting record highs. Dow components hitting lifetimehighs. Nike, travelers, visa, 3m. Add multiyear highs, cisco an intel. There are certainly a lot of winners on s p 500. Many names hitting highs, lifetime highs. 14 of the s p 500 doing exactly that, stuart. Plenty of winners. Apple did cross the 117 mark. It has pulled back since. Apple shareholders happy to see that. Stuart nicole, im very glad you didnt mention microsoft because it is one of the few losers today. You know what . I was looking at best of the year earlier today, to be smart for a moment. Intel up 39 . Microsoft is number two best performer in the dow this year up 30 . You can cry today a little bit but singing all the way to the bank. Youre a big winner for 2014, stuart varney. Stuart nicely put. Thank you very much indeed. Melissa francis enjoys us and with us for the entire hour. I want you to explain why a cut in chinas Interest Rates produces a stock market rally here . Well, it shows how committed the chinese bought is to propping up that economist. Weve seen growth there slow from 11 to 7 , if you believe their numbers. We dont know their real numbers. We know it slowed. They had been cutting rates with targeted moves. This is a big, broad surprise move and it shows theyre stepping in to stablize the economy. It is good for the global economy. Props up their market and props up our market. Thats why. Stuart are they worried about their Economic Performance . That is not necessarily good news though . I think they knew that. We were concerned, rest of the world was concerned looking at a slowdown in china. This shows them taking concrete action. Stuart youre buying that, youre buying a china rate cut equals market rally here . Yes. Stuart are you buying my theory we have lingering effects of republican victories in the elections. Why not. It is your show. It is friday. I love being here. I will buy anything you say, stuart, just for this block. Next block could be totally different. Stuart buy microsoft. Im not boeing right there. Stuart you stay right there. This is very good stuff indeed. Lets get to the president s appearance, i thought mr. Obama, took, it was a divisive tone when he announced his immigration plans Via Executive order. He kind of dared republicans come ahead, challenge me. Roll tape. I worked with congress on comprehensive fix. 68 democrats, republicans independents came together to pass a bipartisan bill in the senate. House of representatives allowed that kind of bill, a simple yes or no vote, it would have passed with support from both parties. Today would be the Republican Leaders in the house have refused to allow that simple vote. To those members of congress who question my authority to make our immigration system work better, or question the wisdom of me acting where congress has failed, i have one answer. Pass a bill and Congress Certainly shouldnt shut down our government again because we disagree on this. Stuart now, my food friend and colleague good friend and colleague, political analyst Juan Williams will join us. He bet he has a smile on his face. I guaranty, there you go. Juan thinks this was a big win for democrats, a big win for the president. Let me take 30 seconds to tell you how wrong you are. The president , i know who you are, juan. I respect, believe me, im not being critical. The president has allowed what, 4. 7 Million People to stay and work. But he hasnt closed the door and next year, because he hasnt closed the door, because the border is still wide open, youre going to get another wave he have people coming into this country illegally and then the real backlash against what the president has done begins. Go. Well, i think we are at the lowest rate of people crossing the border illegally since the 1970s, stuart. So that is just a fact. Stuart weve seen, that was because of the bad recession after 0809, into 10 and into 11. That is part of it. Of course we had steady recovery as you know on this business channel. It has not increased in the last year. What we saw was a spurt of those kids from Central America. That is not the people who are coming in to stay and affect our economic markets. Stuart do you think well get another surge next year . If we do get that surge, is that going to reflect well on president obama . Does he still win politically . No. It would reflect badly, especially with people who already are opposed. But the fact is as the president laid the plan out last night, youve got to be here five years to be eligible for any deferred deportations on his plan. You cant check how long people have been here. You cant check whether they paid taxes already. You cant check the statuses. They simply apply, swamp the system and stay. Wait a minute. My name is not Melissa Francis. I dont have to agree with you just to stay here. Stuart yes you do. Yes you do. I have my own show. I dont have to agree with him either. I dont know, i was taking that as a precedent. I didnt want to insult the host. Stuart youre trying to stir us into frenzy, antiimmigrant frenzy. Stuart me, me . Frenzy . Why would i do that . I dont know. Because seems to me look the reality is, as the president said last night, have a broken system. We should be doing something about these left Million People who are here. Nobody has a plan to deport them. Republicans dont have an alternative. Theyre not putting forward any plan either piecemeal plan or wholesale comprehensive lan to deal with this problem. Stuart do you think president obama won politically last night, whether he went around congress and executive orders, whatever . You think that president obama won politically and that democrats will win politically by what the president did last night . That is simple question. Do you think he won . You know im not sure to be quite honest because if you look at poll numbers, and im a big fan of polling, most americans oppose the president taking this action unlate rattily. They prefer something come through the congress. It is case most americans do want, this includes, republicans, did want some kind of pathway to citizenship for people here illegally now. Stuart let me raise one other issue. The president says, you can come in, you can stay, sorry, you can stay. And you can work, if you pay your taxes. Right. Stuart it sound like were going to get a lot of new revenue from the taxation of 4. 7 Million People who are now legitimate to work. That is totally false. They dont earn enough money to cross the threshold to stay state and federal taxes. They will pay Social Security taxes. But how many of them are actually going to say, i will get using false name, i will quit getting paid in cash, i will go on the books and i will pay those Social Security taxes . Netnet, this is a tax loss. No, it is not. Again i think you underestimate the amount of fear in that illegal i am my Grant Community over deporttation and families being ripped apart, stuart. I think lots of people will find comfort, look at pictures in the morning papers, people who will find comfort knowing that the irs agent is not banging on the door in the middle of the night. I think you talk about, oh, these people arent willing to go through the process, you will find people who willing to go through background checks, to pay back taxes, understand all of the checks have to be done for them to feel that level of safety. People want it, stuart. Want it badly. Stuart i just want to close with one thing. I am an immigrant and i have to tell you that i have felt a very warm embrace from america in all of the years that ive been here. Im very, very grateful for that. I really am. And i can get with you on the idea that we do not want to break up families whether theyre here illegally or whatever, we dont want to do that. America is a very generous, and goodspirited and goodhearted country. And i think we can both agree on that. I want to put a smile on your face before we go, Juan Williams. You know what . You almost brought a tear to my eye. That was wonderful, stuart varney. Stuart thank you very much indeed. We have you on tape saying it, young man. Oh, no. [laughing] oh, no. Stuart good stuff. Juan williams, thank you so much for joining us. Do you have anything to add there, melissa . You know it is interesting. If you look at this question of taxes i dont think we know what has been going on and whats going to come. Cbo says 50 to 75 of people here illegally are paying taxes. How do you know that . These are undocumented immigrants. Theyre undocumented. How do you know theyre paying taxes. Stuart they pay Social Security taxes, if they use a false name and youve got a job, you pay Social Security taxes. I dont know how they can quantify that 50 to 70 . We can talk about this through the rest of the show. Quantitatively dont know what happens. Stuart i think he pay as price if there is another political surge next year. That will happen. I will be your weather forecaster this week. Weve had some weather. The snow continues to fall in buffalo. That would be in new york state. Seven feet so far. More on the way. Clearing roads and rescuing people trapped in homes, that is the new priority. By the way 12 deaths are attributed to the snow. Removal process reach ad critical point. First, two reasons. Weight of the snow caused dozens of roofs to collapse. Second when all the snow melts it can cause extreme flooding on roads and in your home too. This is mondays high temperatures. Most of the country will be thawing out. There you go. There you go. Thats it. Look at that. High temperatures. 67 in new york and around buffalo, 60 . That is uncommonly warm, isnt it, for midnovember, late november. Looks fabulous. Ill take it. Stuart now listen to what bill nye the science guy says causes this wither. When you see this incredible images of snow descending on buffalo, what do you make of that . Well it is, you cant tie, especially cold weather events are difficult to tie to Climate Change. Very reasonable it is Climate Change. Everybody when lake erie is warmer, more water evaporates into the air and snows more. I dont make the rules, people. No, sir, you dont. You heard him, Global Warming, Climate Change. I call it weather. Surely, melissa, you know about this, there is nothing about lakeeffect snow is unusual in buffalo. Theyre so happy they changed the name to Climate Change because Global Warming was not working when all the snow is around and everyone is freezing, you lose a lot of credibility with Global Warming. Thank goodness we changed the name. Otherwise we would be laughing at them. Stuart we will not do that. No no. For sure not. Stuart welcome to this program. Foreign investors, foreigners, buying up plush real estate from new york to miami to california. These are cash deals by the way. There are no mortgages. One Real Estate Agent says that is a bad thing. Over 12,000 financial advisors. So, how are things . Good, good. Nearly 800 billion dollars in assets under care. Let me just put this away. How did edward jones get so big . Could you teach our kids that trick . By not acting that way. Ok, last quarter. Its how edward jones makes sense of investing. receptionist Gunderman Group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. Awesome awesome awesome awesome all awesome i love logistics. Stuart obamacare architect, jonathan gruber, the man who called the American Voter, stupid, and bragged about deceiving them, has now lost his second state consulting contract, vermont. Already dropped him from the payroll. Now North Carolina Auditors Office says it is cutting ties with him. Gruber will still be paid about 100,000 for his work in North Carolina. Check that big board. Well do this often, ladies and gentlemen. Well keep that little bug up on the bottom righthand corner of your screen because that is a rally. The biggest percentage winner on the dow is, caterpillar. Nice gain there. What is that, 4 1 2 . This is a nice stock rally for a dow component. Demand for real estate in south florida, strong. Sales higher in october from earlier in the year. It is sunny, warm, why not. Whos buying . Ill tell you, im not going to tell you, our guest is. She is one of the stars Million Dollar listing miami. Samantha is with us right now. Hello. Stuart what proportion of really upscale homes in miami are bought by foreigners . Is it 50 , 60 , what is it . Lets say in certain areas in miami youre seeing 90 , 90 specific areas. Stuart put a dollar value on this. If it is 90 of homes over what, five million, sold to foreigners or one million. Not too much. We can say 750 to a million. Stuart as low as that . Yeah. Stuart well, that is 90 of the homes sold in miami in that price range go to foreigners . Go to foreigners, in specific areas in miami. Stuart i understand. That is highend stuff. Were seeing more and more International Buyers coming. Weve already seen the increase by 20 from last year as far as how much theyre coming. Stuart china number one . China is not number one. For miami were talking about south americans. Stuart which country . We do have brazil, argentina, being very specific today. I like it. Stuart this is business. Besides Melissa Francis is on the show. We have got to impress her. Right. Stuart latin america is number one . Yes. We will have canadians as well. Stuart we will . They are not there yet. We do have canadians currently. Miami, Fort Lauderdale is a great location for them as well. We have chinese buyers which have increased this year as well. So miamis a great place to be buying. Why are you laughing . Why are you laughing . Stuart Fort Lauderdale is a great place for canadians. Youre being nasty about Fort Lauderdale. I live in Fort Lauderdale. You live in naples. You have a place in naples. We need you to move to the east side. Stuart no. Naples is the place to be. You know a realtor . Pretty good one. Stuart okay. Lets get serious. The foreign buyers, 90 buy, 750,000 or up. 90 to foreigners. Do they pay all cash . They do pay all cash and it is interesting, they can go over asking price because of the currency. And you know, people, we talk about this and we boast about it and it is all great and dandy we have some International Buyers but is that really a good thing . You know. Does it change the complexion of the neighborhood . You have a lot of folks investing from overseas are they actually living there . Are they keeping the plates up . Are they renting it out on a shortterm basis . What does it look like when you sell that much to foreign buyers . Theyre mostly renting. I dont personally, this stuart wait a minute. They buy the place and rent it to locals. Melissa see that all the time as well, yeah. Stuart do they actually live in america . Because if they live in america they pay tax in america but they dont. So what youre getting, what america gets is a big chunk of capital that moves into the Housing Market but youre saying that might force out nativeborn people who might want to buy those homes. Of course. Because people are coming in and paying over asking price. Putting all of the people like me, out of the bidding war. Only so much we can pay. Stuart on a sale on the ground it is a foreigner, now, would you . From a realtors standpoint . You know, yeah it is great. More money for me. More money my pocket. But when you really look at the realistic situation what is going on, is it a good thing . I would have to say no. Stuart are you trying to tell me selfinterest is not deep in your heart . No, im a good person. Im a good italian girl, come on. Where is this going . Any sign that this trend is leveling off, turning down . Any sign at all . No . It is on the up. So it is, it keeps increasing. I dont see how that will end anytime soon. Melissa talk about russian billionaires and millionaires are ones coming in to buy a lot of spots. The price of oil dropped dramatically. That is taking a big bite what is going on in russia. Seems like there is potential for bubble of these two specific groups doing buying . Does that concern you . Taking money and pouring it in faster. When ever there is crisis of any kind theyre going to then say, okay, i need to move my money fast. They put it into real estate in south florida or, u. S. In general but south florida is number one. Stuart i hear a lost english people go to Fort Lauderdale, is it true . Maybe. Stuart it is true, actually. Is a man that thank you very much for joining us. Always a pleasure. Thank you. Stuart a restaurant in new york city, places an ad for a job. Says its looking for waitress. A threeyear investigation by the citys human rights investigation follows because the ad is not gender neutral. The bureaucrats can not decide whether there is a fine. I will tell you the story. Tommy chong smokes a lot of dope. You the varney viewer are not a fan of that. No, but i did, i smoked last night. Stuart a lot . Shes still the one for you. And cialis for daily use helps you be Ready Anytime the moment is right. 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We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Stuart well its not a household name but leading the s p 500. That would be autodesk. Got strong numbers, up 7 1 2 . All right, new york citys Human Rights Commission spent three years pursuing a restaurant for placing an ad for waitresses instead of gender neutral servers. The restaurant was fined 5,000 but they havent had to pay up yet. All that time spent on Political Correctness of one word . Seems kind of silly. 5,000 asking for waitresses. Melissa . Melissa i have to tell you this story cracks me up anytime you go into restaurant in new york they have very tall, very slim, very gorgeous women hanging out at host test stand, host stand, excuse me, gender neutral. How is it legal they only hire women and stunning women . But apparently someone made mistake writing an ad. They got fined. Meanwhile they havent collected fine. What about on broadway you advertise for actress for female role . Obviously you need a female, i dont know isnt that the same thing . Stuart do they advertise on wall street . Melissa on broadway . They put ads they must, yeah. Female lead, i dont know. Amazing to me. Goes on all the time. They nabbed one poor restaurant. Theyre not collecting money. Are you an actor or actress . Melissa now everyone says actor. That is the proper thing. Everyones an actor. Stuart youre an actress. You were a child star. Melissa i dont know about that. Stuart that is gender neutral. Tommy chong of chief and chong fame stopped by Varney Company to talk about what else, pot of course. A lot of you were not happy about it of the listen to him. You have to acknowledge a lot of our viewers dont like what youve done. Theyre not happy with you. Who is that . Stuart the viewers. Large number of people think that Everybody Loves me. Not quite so, mr. Chong. Here are some of your responses. Kimberly says, who in the world cares about such a notalent, rattlebrained pot head that wasnt ever funny to begin with . No thanks. Im sorry. Melissa not very nice. Stuart i liked his movies. Melissa not very nice. Stuart i thought they were funny, quite frankly. John adds this. Why is fox giving this pot head moron a platform to promote this stuff . No real American Patriot want to hear this idiot or his warped views. We welcome all views on this program. We keep it fair and balanced. Keep comments coming. Keep them short and keep them clean. You make it on the air. President obama going it alone on immigration, sidestepping congress be issuing his decree to republicans. This is an economic issue. The president has taken actions that he himself have said are those of a king or an emperor not an american president. And he is doing this at a time when americans want nothing more than both parties to focus on solving the biggest problems in our country, starting with our stillstruggling economy. Twhat do i do . You need to catch the 4 10 huh . The Equipment Tracking system will get you to the loading dock. There should be a truck leaving now. I got it. Now jump off the bridge. What . In 3. 2. 1. Are you kidding me . Go. Right on time. Right now, over 20,000 trains are running reliably. We call that predictable. Thrillingly predictable. To build something smarter. Some come here to build something stronger. Others come to build something faster. Something safer. Something greener. Something the whole world can share. People come to boeing to do many different things. But its always about the very thing we do best. Stuart im trying desperately to do the math. I do believe were less than 200 points away from 18,000 on the dow. That is new high. John layfield will tell us whether we hit 18k by thanksgiving at top of next hour. Apple keeps going up. That is a new high for apple. Look at this. , the number of states with gas below 3 a gallon, 38. The west coast is lagging behind. The National Average for regular by the way is 2. 83. Retail stocks hitting lifetime highs ahead of black friday. Three big names you know them. Stuart macys, petsmart, nordstrom. New highs. Back to the story of the day, president obama says 4. Million illegals can stay. We have democrat henry cuellar, democrat from texas. Welcome, congressman. Always glad to have you back. Thank you very much, stuart. Stuart i heard people say the president and democrats will win politically by this move because they are, quote, pappedderring to the hispanic vote. Let me turn this around. There may well be another wave of illegals coming across the border. The president at that point loses politically. What would you say congressman. That is what Ronald Reagan did in the executive order back in the 80s and george bush the father back in the 90s, did executive order on same thing. I guess we could make that argument both side. I wish, stuart, we would have done this in a bipartisan working together, democrats and republicans. But the president decided to move because he felt that congress has just done anything on this issue for some years. Stuart your district, congressman, is heavily hispanic. Right on the border with mexico. How would you say opinion goes in your constituency . Is it in favor of what the president did last night or is there some anxiety about it . Well you know, i would say that, you know, first of all the Hispanic Community is not monolithic. There is a lot of thoughts and a lot of different opinions on this. There are some people that are happy. Ive already got some calls but there are some people said, hey, i hope these people dont jump ahead of some of us waiting for a while. For example, my father was born in mexico. He became a legal resident. He became a naturalized citizen. He followed the procedure to come a become a citizen. There are people like my father that you know, feel we have to make sure those people dont come in and jump the line. Stuart i sense a little ambivalence, congressman. Youre not 100 behind this, are you . Defend i would have preferred we done this in bipartisan way of congress. I think our responsibility, our duty. The president has precedent to get this done but i wish we would have done this. We can still do it. The president can come back and i Mean Congress can come back and pass a bipartisan bill. Stuart lets see. Congressman henry cuellar, democrat from texas. We always appreciate it on the show. Stuart, you have a happy thanksgiving to you and your family and staff. Youre great. Stuart you do, sir. Thank you. I will stay on immigration and now focus on the tax angle. The president says you can stay and work if you pay taxes. Here is the obvious question. How many of the people allowed to stay will in fact be paying tax. Melissa . Melissa thats a great question because youre talking about the fact a large percentage of the population gets back in federal services than they pay in federal taxes. 60 by the cbos latest count. Youre asking the question which part of the group do they join . 20 supporting the bottom or that 60 group get back more in services and food stamps than they pay in taxes . You get the point will they get the earned income tax credit . Most likely. Flip side, theyre probably already using schools and hospitals and using some services already. Well see what the netnet is. Stuart that wont change. That wont change. Melissa that wont change. Stuart now i think there will be income tax credit checks coming through and maybe another wave next year, if that happens, that adds to the overall cost. Melissa mathematically. Ive seen articles in forbes and other tax reporters saying that exact thing. Stuart melissa, thank you very much indeed. Wall street journal poll reveals 56 say political and Financial Systems are stacked against them. Here is the, here is a good question about Foreign Policy. Is america in retreat . Why dont we ask wall street Journal Foreign Affairs columnist, bret stephens, who has a new book out, the title is, american in retreat, new isolationism and coming global disorder. Welcome to the order. I think the book title answers your question. Stuart i think it does, yes. There is a difference between in retreat and being in terpnal decline. No, absolutely. In fact, i dont think for one second that the United States is in decline. Weve gone through periods in our history, the 1970s, being recent one where there was a conviction a country sort of going the way of Great Britain shall we say. Stuart thats true. In 1940s we proved them wrong. Decline happens because of inexorable forces that are beyond politics to fix. Retreat happens when a politician or president decide americas footprint in the world is just too large. And that they need to shrink that footprint. That has been consistent foreign poll sieve obama. Problem is, when you shrink your footprint, other people step in. Stuart do you think that there is a will in america to reestablish ourselves as the shining city on the hill, the place which is optimistic, the place which will lead the world towards greater freedom . Do we have that will still within us . You know when i started writing this book, i was very worried we had lost it. The president was reelected. Being broadly popular when it came to his Foreign Policy last few months i think americans are inabouting to understand with beheading of steve foley and james foley and steve satloff by isis, theyre beginning to understand it is in fact a dangerous world. If we just abdicate our responsibilities were making things not only dangerous and more difficult for our allies, were making things dangerous and difficult for ourselves. You see americans searching for the Foreign Policy that doesnt quite overcommit the way george w. Bush did, trying to heal crippled societies but is not a Foreign Policy based on inaction and retreat which is the essence of obamas. Stuart if you want a global footprint, if you have lead globally you have to pay for it. Currently i dont think americans are prepared to pay for it. I dont know. They could be led towards it, but do they want to spend all the money that would be required to have a true global footprint to become the policeman of the world . You will pay one way or another. You will either pay to have a military footprint, which is large, that keeps the peace or find yourself faces one crisis after another as we are now, as we go back into iraq and paying for it that way. I would rather have reaganesque Foreign Policy having a large military keeps the peace. By the way, right now we spend 3. 5ers of our gdp on defense. Historically low number, reagan prosperous years, 6 . The 45year average is 5. 5 . We need to maintain forces sufficient not to entice chinas and russias in the world to think they can compete with us. Stuart i hesitate to say it is a guns or butter argument like Herman Goring in the nazi germany in 1930s. You cant have more guns and military services unless you cut back on the butter. Social services. Germany shrunk your military next to nothing. When you shrink the military, not just like reducing deficit. It is inducement for more welfare spending. Look, biggest percentage of our budget goes to entitlements. Some idea were spending all of our money on the military. That is simply not true. Less than 1 5 of our federal budget goes to defense related spending. Stuart does it come towards leadership . America cant be led for a more positive outlook on the world and taking a a role in the world but it has to be led there. Right. Needs someone willing to explain American Leadership is the vital buffer, the margin between civilization and barbarism. It is what protects little countries of the world who long depended on our security and benefit our own security. Israel, taiwan, estonia. We have to be there. Stuart have you got a name in mind who that leader might be. I hope it is not Vladmir Putin and i think most americans would agree or ayatollah khomeni. Stuart im looking for an american, and you know it. There are potential american names. By the way i hope next crop of president s all read this book. It is written specifically for them to have a sober, sensible and politically sellable foreign poll i. Stuart what is the name again. American retreat and new isolationism and coming global stuart that tells the entire story. Why read the book. Good book. Stuart i actually have. Very good book. Very wellwritten by the way. Bret stephens, everyone. Thank you, sir. Stuart Kickstarter Campaign for a mission to the moon . You can be a part of it for a price of course. I will talk to the team leader of this moon shot. You know what that means. Trivia time. A question for you. How many people have walked on the moon . Post your answers on facebook and twitter. Dont go to google. We choose to go to the moon in this decade and dot other things, not because they are easy, but because they are hard. Because that goal will to organize and measure the best of our energies and skills because that challenge is one that were it will accept, one we are unwilling to postpone and one we intend to win. Im Nicole Petallides with your fox business brief with a recordsetting day on wall street. Dow, s p, and dru transportation with record lifetime highs. Nasdaq at highest level since the year 2000. The dow is up 109 points. Look at dow leaders including caterpillar, dupont and united technologies. Were seeing names like nike, travelers 3m, lifetime highs. That being said there are names under pressure including gamestop. Gamestop came out with the latest numbers and forecast, is weakerthanexpected. The stock is down 13 . Concerns about delay of title to of some of the games. Then there is the gap. Gap is to the downside, the number two loser in the s p 500. It is down 5. 7 right now for the gap. S p 500 is up 11. 400 of the 500 names have up arrows. That is the latest, fox business, giving you the power to prosper. Stuart news for you on obamacare architect jonathan gruber. He called the American Voter stupid. Bragged about deceiving them, you know about. That congressman darrell issa wants answers from him, calling him to testify directly in front of Congress Next month, what he is calling the quote, repeated transparency failures and outright deceptions surrounding obamacare. A doomsday warning from pope francis. If we dont rein in our greed and abuse about our planet nature will exact revenge. Here is what he said at an event in rome. God always forgives but the earth does not. Take care of the earth so it does not respond with destruction. Melissa francis is still here. Melissa i am still here. Stuart was that a political statement from the pope . Melissa certainly sounded like it. I mean in full disclosure, i am catholic. I endured many years of Catholic School so i will say that out of the gate. It sounds pretty political. It sound a little bit like genesis. I dont know stuart what do you mean genesis. Melissa origins of the stuart steward of the earth . Melissa we have to be steward of the earth. Everything comes from the earth originally. It could mean anything. Youre reading it like you should use solar panels or you should have an electric car. Im not sure he went quite that far. Stuart does he want a carbon tax . Melissa i didnt see that in there. Stuart you didnt . Melissa you may be looking too deeply in the statement. Could be saying be nice to everyone around you. Stuart i think the holy father is doing exactly. That. Melissa thank for straightening me out. Melissa that is what im doing here. Keep you in mine line. Asked you how many people walked on the room, the correct answer is 12. Kudos for bryce cook for being the first viewer to correct guess that correctly. Why do we ask . Our next guest launch ad Kickstarter Campaign to help fund his companys mission of burying a time capsule deep below the surface of the moon. Joining us from london, Lunar Mission trust, david iron. David, there is a slight delay what were saying to each other now. I will ask you one long question and then you can answer it okay . Why are you trying to raise 600,000 in a kicks starter campaign to send something into the moon which drills down into the moon and plants a time capsule . Why are you doing this . Stuart, hello. First of all, it is a real science mission. Were going to be drilling down much deeper than before. And finding out about the geological composition of the moon and its ancient relationship with the earth. Well be assessing potential for a permanent manned base at the pole. What well do with the borehole is deposit this time capsule because it has a wonderful environment for very longterm preservation, geological time scale about a billion years or so. Stuart okay. Hold on a second. I will jump in. David, i will jump. Sound like im interrupting you. But look, youre trying to raise 600,000 to do this, it is a Kickstarter Campaign. So really, what youre asking for, is private people to contribute money, because they dont get any stock. Dont get anything back. Youre asking people to just fund this scientific experiment. That is what you want to do . Its not a business case. It is a consumer offer for those who want to take part in it. The kickstarter is just the very first stage. The Million Dollars or so will fund the setting up of the Management Team that we need with Early Program planning. And then there will be another phase where we set the whole program up and then the major stage, where we develop the main mission. And that will take us to the, the Mission Launch in about 10 years time. The point of this is to get lots of people involved, government funding is as, difficult as ever. More limited, than ever. For missions that are designed primarily for advancing knowledge and understanding. So what were doing is, were taking the taxpayer out of the equation and putting into it, large number of people who want to pay a small amount to be part of this mission because they want to be. They support the mission. Stuart okay. Get something out of it as well. Stuart i got it. That is very interesting way of funding this mission. Very interesting indeed. David iron, everyone. Thanks so much for joining us, sir. Melissa, that is what i got out of that. The idea people contribute money, get nothing back in return but a part of yes, it is an experiment. Melissa i read about it. Dont you get to put something in the time capsule . You put pieces of hair or something in the time capsule. Sound like were littering the moon. Stuart you know how it is. The hunger games banned in china. I will tell you the reason why in a moment. receptionist Gunderman Group. Gunderman group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. Awesome awesome awesome awesome all awesome i love logistics. Stuart the latest hunger games movies appeared last night. Melissa, you have seen it these movies. Yes. The ties are there. Farflung powers of a region that are far away. I can see why they might be a little unhappy about that. Stuart thank you for joining us this hour. She is on bloody 2 00 p. M. Eastern. Today, we will talk about immigration. Look at this market go. Could we see dow 82,000 by thanksgiving . Be back in two minutes. the music builds to a climax. more people are coming to audi than ever before. See why now is the best time. Audi will cover your first months payment on select models at the season of audi sales event. Visit audioffers. Com today. Stuart here is the conventional political wisdom. The product on. President walks in the hispanic vote. The government crowds capture the emerging majority. He wins. That is conventional wisdom. He has gone to get the wishes of the people. He has gone around the representatives. They are not keyed to keep shelling out their money on people that broke the law. Another wave of illegals will soon be coming. When that happened, the president position collapses. All he has done is import democrats. They win. The notion that i could just send deportation to executive order, that is just not the case. Some people want me to bypass congress and change the laws on my own. That is not how this system works. He cannot do exactly what he is doing on immigration. The dow have come off of the ties. The dow is up 26 . The s p 500 of exactly the same amount. The price of gas down again overnight. 2. 22 at duo. Plenty of winners today. Lets go through it with coal. We saw highs on the day on the acid feed. Taking a look at some of the names on the transportation and decks. That, too, has hit a lifetime high. Some of the railroads looking grave. Those have. Lifetime highs. Up about 23 this year. Moving on to retail. Here is some of the names. Stuart not a bad list. It is about 160 points away right now. All the momentum is straight up. It is hard to get. I am not sure, but i think there is a good chance. Speak to a gop would be very good for the stock market. It looks like we are up about 1500, 1600 points in a month. Do you think the Election Results are a fact your today . No, i do not. They are going from 11 to 7 growth. That is great, but it is a huge drop for them. I think it has more to do with the elections. I was saying this was a gop rally and you do not agree with me. I think a gop rally of two today. Stuart i want you to give us one stock that is going to be a winner long term. Still very bullish on the american consumer. It is essentially a pure play camera company. You think that this thing goes to 100 or above . Yes. I think that the numbers are wrong. Stuart do you have one . I have not used it yet. It is a great place to snorkel here. I envy you. Bermuda guide. See you later. Thanks a lot. Walmart employees walking out and demanding higher wages. Sixty protest will be held in d. C. Lets get back to president obama. If that was not enough, he took jabs throughout his entire presentation last night. I worked with congress on a comprehensive six. The house of representatives allowed that kind of bill. A simple yes or no vote. Today, it would be the one. Republican leaders in the house. Those members of congress who question my authority, or question the wisdom, i have one answer. Pass a bill. Congress certainly should not pass this. Stuart it looks to be like you will be demagogues on this one. If you try to reverse this, all you want to do is deport people. How will you get around that problem . That will be a challenge. I think youre earlier analysis was spot on. The president has turned his back on the American Worker and the illegal immigrant. At the same time, has awarded the illegal immigrant coming into this country. It will be our challenge and our job to make sure that that does not stand. Make sure that this nation is a rule of law. We need to look out for the American Worker and the illegal immigrant in this country as well. I think that there could be another wave of illegals coming across the border. I think it is an invitation for more to come. I think it is a huge political negative for the president. It may be in one sense and a positive in another sense. The point is, you are right. The next wave will come. We tried this in the past when they did not take the action that was necessary. I think fundamentally, the issue is whether the president has the authority to do so. He has repeatedly said that he does not have the authority to do so. I was watching a commercial. It was on for one of those Auto Insurance companies. One lady said, that is not the way this works. Someone has to send that message to the United States president. It is not the way the constitution works. Stuart if you take it to the courts, that takes a long time. Yes. I did not support our house method in the past. Secondly, the Founding Fathers did not intend for the house to say this system works right. We are responsible for making and holding our oath. All of the people who work in executive offices, they have sworn a duty to uphold the constitution. Those are the People Congress decides to hold accountable. The president may be saying one thing today, he obviously said something else. If you do not follow the law of the land today, you are in violation of the law. Stuart thank you very much. Good to have you with us. Stuart casino operator steve wynn. Let everyone know that he is not a fan of obama. Is that a coincidence or just business as usual . Obesity costing the economy 2 billion. How exactly do you classify somebody as overweight, obese . Video games, the new cash cow, call of duty. Do you believe that is a 10 billion franchise . After the break, 7 feet of snow in western new york. Forcing to move the buffalo jets football game. They challenge us. They take us to worlds full of heroes and titans. For respawn, building the best teractive entertainment begins with the cloud. This is titanfall, the first multiplayer game built and run on microsoft azure. Empowering gamers around the world to interact in ways they never thought possible. This cloud turns data into excitement. This is the microsoft cloud. Shyou see this right . Its 80 confidence and 64 knee brace. Thats more. Shh. I know thats more than 100 . But thats what winners give. Now bicycle kick your old 401 k into an ira. I know, i know. Listen, just get td ameritrades rollover consultants on the horn. Theyll guide you through the whole process. Its simple. Even she could do it. Whatever, janet. For all the confidence you need. Td ameritrade. You got this. Stuart stocks are doing very nicely. Dollar general, almost at 68. That, too, is a high for that stock. Were being in the northeast. Snow will melt causing homes and roads to flood. More snow on the weekend. This is a photo set to us. Just outside of buffalo. Good luck. Thank you for the picture. Keep them coming, by the way. All of this snow we weather is having an effect. The game both three and the jets and bills will be postponed until sunday. It will be difficult. The players are having trouble getting to the stadium to travel to detroit. The guys cannot even get out of their house. This has been a disaster. For the players, they have not been to the facility all week. We were hoping they could play this game on sunday. Now they are talking. This stadium may not even be ready for november 30. It is that snow did. If you know the nfl, you know they do not like losing money. They may lose some money with this one. Stuart we need you on the show today. I want to show some viewers the video. You have to talk me through it. This game is third down. They have that one yet. The closing bell has not rung yet. You are doing a dance across the stock market. Fortunately, a veteran player for the raiders called a timeout. This could have been disastrous for the raiders. They both said we apologize. They thought the game was over. They were celebrating doing all these stances. It could have been disastrous for the raiders. [laughter] stuart can you score two points in football . Yes. You can do either or. You know that. Don the big game is sunday on fox. It should be great. Stuart i want to show some of our viewers a look at video that came out of russia. Pingpong match. One boy loses. He is not happy. Fox sports. Com has a new thing. The buzzer. We get a deal from russia. Look at what happened to this table top match. What do we call this . It is the judge. I like how the kid just walks away. All that kind of stuff. Will we see you next friday . I will be working. Stuart it is all football on thanksgiving. We have a huge one on fox. You are relieved of your work duties for a moment. Thank you. Being investigated by the feds. Is that a coincidence . Being put down by a president that has never created any jobs. Doesnt even understand how the economy works. receptionist Gunderman Group. Gunderman group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. Awesome awesome awesome awesome all awesome i love logistics. Stuart it is still had a tape. Three names are still down. They are the biggest providers in the s p 500. Obamacare enrollment in the first year were inflated with dental plans. Incorrectly adding dental subscribers to try to get the total above 7 million. 6. 7 billion. The department has acknowledged the mistake. They very well called it unacceptable. It is still a pretty much of day for the dow industrials. They gain of 93 points. I do not know why the stock that i own is down so much on an otherwise update. New employees at the microsoft Silicon Valley campus, a 5foot tall robot guard packed with high death cameras and said theres, they could sound an alarm and call for help. They can read license plates. No weapons on this yet, though. Now check the share price of wynn resorts. It is up to date. Two u. S. Attorney officers are investigating the company for criminal moneylaundering. The question is, is it a coincidence . I am not sure that that association is valid. Obesity costs the world i do not believe that. How do we classify someone as overweight or obese . I do not get it. President obamas decree on illegal immigration. Sidestepping congress. It allows 5 billion illegals to stay and work. Will congress ever fix the immigration mess . Our challenge and our job to make sure that that does not stand. Make sure that the Founding Fathers intended this nation is a rule of law. They are a glowing example of what it means to be the best. And at this special time of year, they shine even brighter. Come to the winter event and get the mercedesbenz youve always wished for, now for an exceptional price. [ho, ho, ho, ho] lease the 2015 ml350 for 579 a month at your local mercedesbenz dealer. Stuart it is a rally, but it is not as strong as it was. Good news for your wallet. Gas keeps falling. 2. 83. That that. Obesity, clearly a big problem here and around the world. 2 trillion a year. I do not believe it. Doctor manning, however, will straighten me out. They fooled around with the definition of obesity. I do not believe a word of it. When your bmi is over 30, 35, 40. You have secondary side effects. I got that. If you look at the data, it is grossly underestimating, and many such errors. It is the same thing. At the end of the day, the classification, needs to be clarified. The reason that it is fuzzy it is because it is political. Stuart they all want us to be skinny. To a certain degree, you are right. Health care today is political agenda. 2 trillion a year. That is nonsense. A lot of dollars. A loss of over calculations. At the end of the day, it is about taxation. The data is very fuzzy. Therefore, i can still use it respectively. You look gorgeous. I am definitely obese. Your bmi is over 30, i am sorry. Stuart you are an immigrant from cuba. Came here when you were young were. 12. You came here and with the process. How do you feel about president obamas executive order . I wrote an article about this the other day. We need congress, that the president , to make legislation. This is, perhaps, a twoyear solution. At the end of two years, they are backwards. If you look at the headlines, it says the president of the United States is clearing the path for immigration reform. The second page, a wonderful story that mothers who are missing their children, traveling all through Central America looking for their lost children because of this immigration debate. They are barking right now. They are marching in mexico. Where are my children . They left our villages. We do not know where they are. These are mothers that have lost their children. Immigration reform is about fixing the problem that we have. You have to look south of the border. It sounds like an open invitation to another wave of illegals. Absolutely. I think that will come to fruition. You will see and influence people. Why would you not. That is why my family left. Right now, this sure six is going to hurt latinos in the long run. You will not get permanent changes in immigration that will last a long time. It does not address what is happening with those countries. When you were a youngster, you came here. Do you think you have lived the American Dream . No doubt about it. I lived in a foster home that was very kind of me before my parents came. I lived in foster care because they could not leave. Stuart really . Foster care for five years. Secondary relatives. Stuart they brought you up . Yes. To a certain degree. Speak to you with two meadow you went to medical school. You and i have both with the American Dream. That is terrific. Thank you. Look at the big board for a moment. When we started the show, we were up 130100 or two points. We have come back a little bit. We are at 178. It surely is doable by thanksgiving. Next thursday. Shortly. We will be there to tell you. The latest addition of hunger games this weekend. Call of duty franchise already bringing in 10 billion. Cant hunger games compete . I believe that and there is yes. The 20 i have your fox business brief. A recordsetting day on wall street. The nasdaq composite at the highest level since we have seen since year 2000. Nike, travelers, visa and 3 m, the names hitting record highs. Revenue topped expectations. Another name on this list, ross stores. Higher sales operating margins. Footlocker reported their numbers hit a high. A new high earlier today. It is now down three and a half percent. Stuart this is a financial program. You may not think so, but it is. A great rally. We are still up. You remember when Charles Payne said this. Ashley the one to punch has been absolutely mindboggling. Amazing for the stock market. I did a lot of work this week. I will talk about it tonight. When the gop took control of the house and senate. Stuart november, december really good for the markets. , on in from chicago scott. Are you jumping on the bandwagon . Well, i think kind of fright as far as the Actual Research goes. We are setting record alltime highs, is everybody on the street setting record alltime highs . I think the answer is no. We still have that divergence. Charles has it right. Stuart he has it right. Historically. You are being wishywashy, scott. Are we going to come down in this market . We will keep on going up. We will have intervention from the far eastern something out of the ecb. Stuart everybody on the planet is printing money like crazy. It seems to me like it is a race to the bottom. How much volume can we take out . We have to start somewhere. Look at what we have done to our balance sheet. Here is what is going to happen, we will have the far east. We need to see something come out of our economy. It is going to be up to us. Hopefully, we can weather the storm. When you have intervention, that is just an initiative that things are not going well. Stuart we have had a terrific run it down in the price of gasoline. I think it has just about come to an end. What say you . 75 a barrel of oil right now. Maybe we come off a little bit more. It is because the economy we really do not meet the gasoline if we do not have a job. Stuart scott. They give very much indeed. Check the share price of amazon. A seven team year lease. This is a hot property. It is also a 12 story structure. This is right in the middle. The journal is reporting right now. I cannot confirm this yet that they will use it for same day delivery. You have a massive population in manhattan. Your same day delivery service. You can do it. You can successfully deliver same day. It would make sense to do customer pickups. It has Distribution Centers all over the country. To pick an manhattan property like this, it is a seven team year lease. You know what manhattan rents are right now. Amazon correct and mortar stores. I think that is where you see on line go mainstream. We will stop at the amazon store. Or the microsoft store. True. That is what it becomes. A bricks and mortar centerpiece. Google is printing out half of chelsea right now. They have like a village happening. Stuart i want you, for a moment, to check the share price of lions gate films. The third installment of the hunger games is out today. Movies may not be the king of entertainment. Activision announcing their call of duty is videogame franchise has grossed more than 10 billion since its 2003 launch. It looks like video games. 10 billion. I cannot believe 10 billion. Is that correct . It is correct. We have had 11 different versions of this game so far. It is very and presses. One of the figures that you have to understand. Playing it off against hunger games. 10 billion for the videogame. Are you saying maybe 10 billion eventually for the hunger games franchise . There is no way that will be a 10 billion franchise. They have four movies. This is the third 04. Not unless we get a bunch more will receive 10 billion. Stuart you can have a 10 billion videogame. It is accurate. A little bit of an applesauce comparison. They rely on big launches and downstream revenue. Things are a little bit different between movies and video games. Movies are still about 10. You go for two hours said there and you are done with it. There is homevideo. There is merchandise. Lots and lots of different ways to monetize the film. Stuart should i put money into videogame companies more than moving companies . May be Virtual Reality companies is the way to go. We are not seeing anything right away. Eventually, that will be the way. Stuart one of those headset things. A virtual wraparound experience. Well, it will be when they get all this hardware. They can figure out exactly how to make content. The camera can move, it will make you sick. Stuart believed the. You can get the sick. Still getting help from mom and dad. Say it is not so. receptionist Gunderman Group. Gunderman group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. 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Lauren simonetti is here. Hi. Stuart first of all, what kind of help . What are the parents doing with the money for the kids . These are people 1834. Like you said, making 75,000 a year, not getting help for a down payment on a house, not getting help paying back their student loans, but for basic necessities. A quarter of them, help from mom and dad to buy groceries. Stuart wait, wait, wait, this is millennials who makeover 75,000 a year are, mom and dad still chip in for groceries . For food, clothes and more married millennials, help paying their cell phone bill. Stuart this is a cultural thing doctor yes. Stuart my mom and dad would never give me a dime. The issue is many parents dont have money for their own retirement. Part of it is also the entitled generation, stuart. Theres another number which comes from bank of america and usa today, 32 of all millennials not those making 75,000 are saving for a house, others saving for a vacation. Stawrt stuart youve got to be kidding me . No, theyre about instant gratification. Stuart that is a cultural im just happy to know so many are making 75k. I think its terrible. I think its disgusting. Stuart excellent. Youre back on the show. [laughter] more varney after this. [announcer] welcome to the reimagined quickbooks. Do more than ever before with it. Make any place your place of business with it. Get paid faster with it. Run payroll with it. Sync this stuff with that stuff with it. Turn on only what you need with it. Sample from our smorgasbord of apps with it. Take in the big picture with it. See your finances in a whole new way with it. This is your business on intuit quickbooks. Run with it. Stuart we need congress, not the president to make legislation with regards to fixing the immigration policy. This is, perhaps, a solution. Whats going to happen for the five million latinos, theyre going to get a work permit, they might be able to get a temporary drivers license for two years, but at the end of two years, theyre back where today they started. Stuart that was dr. Manny on immigration. Now heres your talk on the rest of the show. Michael says this about Global Warming causing the big buffalo snowstorm that is a political statement. Meteorology is caused by the operation of the planet. Well said. Deirdre, my times up, but yours is just beginning. Deirdre yes it is, stuart, thank you so much. Stocks are soaring on two big central bank moves, one from china, one from the ecb. World trade experts jim baucus will explain the implications for investors. President obama on this International Theme immigration plan may keep some tech talent in the u. S. For longer. More on slowing down the current brain drain. And the startup that raised 100 million to revolutionize the way we watch tv is filing for chapter 11 bankruptcy. Well, for the first time in more than two years, china cut its benchmark rate. The growth is decelerating there. Jo ling kent with the details. I th