Transcripts For FBC Varney Company 20170126

Profits rally. Wait until you see how much Money Companies are making. Check your 401 k , youre making money, too the dow closed way above 20,000. Whats our president up to today . Reportedly to cut the funding of United Nations and stop the flow of refugees. Later, planning strategy for obamacare and tax cuts with top republicans. Hes preparing for a meeting with britains Prime Minister theresa may, she says they could lead the world together, like Margaret Thatcher and Ronald Reagan . Oh, yes, to some of us, those were the days. Please, ladies and gentlemen, ignore the media, theyre eager to undermine this presidency, instead, look is the what is actually happening. America is getting richer and trump is doing what he said he would do, that would be President Trump. Varney company about to beg begin. Looks like we made it here is a little fact. A little known fact. Okay . Everybody in the world likes at least one Barry Manilow song, but nobody will admit it. [laughter] i set it up. Liz including Barry Manilow. Stuart a great guy. It looks like we made it, yes, the dow closed well above 20k, 20,068 to be precise and right now were headed higher at the opening bell, up 20, 25 points to add to yesterdays big gain. Well above 20k, got it. Now, ive got breaking news for you on chrysler. Bringing work back to america, the story, please. Ashley yeah, the Fiat Chrysler ceo Sergio Marchionne says Donald Trumps policy today may shift production for Fiat Chrysler, they may move the production of the heavy duty ram pickup trucks from mexico to the United States. And he puts a lot of this on the trump administrations policies to spur Economic Growth and he says, sales for Fiat Chrysler have been very strong and only expect that to get better. Stuart look at that stock up 54 , thats something else. We said at the top of the show, its not just a trump rally, its a profit rally. Look at this, ebay is making a great deal of money and we just found that out. Holiday sales very good. Ebay will go straight up this morning. Higher profits at Royal Caribbean and that stock will go up. Comcast is making money from cable channels and broadcast networks and im sorry were sticking there on Fiat Chrysler, ive got a lot to tell you about. A lot of Companies Making a great deal of money and their stock will go up, its a profitdriven rally and here is another one, dow chemical, making a great deal of money from automotive and agricultural divisions and theyre going up. The home builder, pulte making a lot of money. And former Goldman Sachs sacks, theres pulte, they will be up, not much, but going up. The former parter in of Goldman Sachs and author of american mojo, peter kernen, with us now. Good to be with you. Stuart i left out a word there, theyre making more money. This is a profit reporting period and its very good, isnt it . Yeah, were in a legitimate earnings season and this is looking very good right now and id say people are moving from the trump rally to lets show how we can do it rally and were starting to do it and these kind of steps build a second leg above 20,000. Stuart a second leg above 20,000, that primarily because these profits are so good . That really helps. I think if you take in the profits and add in the stimulus coming, tax regulation and infrastructure, thats on the back of this economy. Stuart on the lefthand side of the screen, some of the stocks were talking about, profits are very, very good, some are going up sharply. We have got another money guy with us, scott martin. For those not in the market and not prepared to get in yet. Would you tell them buy now because weve got another leg up coming . Is that what you would tell them . I would, lets say your cash position is sitting on the sidelines. I would put in half now. Peter talked about the earnings picture, there are some exciting earnings coming up in techland this week which i think are going to move the market and especially the nasdaq big. I think to the upside. If you have cash on the sidelines, today is the day to put it in. Stuart you accept there will be sompulmonapullback, but get. Holdn, minute, ive got a tweet from President Trump about mexico. Ashley indeed and trade. Saying the u. S. Has a 60 billion dollar trade deficit with mexico, its been a onesided deal with massive numbers of jobs and companies lost and goes on to say, mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting. Stuart oh. Ashley pretty strong words. Stuart because the president of mexico said, hes thinking twice about the upcoming meeting and now trump seconded back. He punches back, he doesnt take it lying down. Ashley he says mexico is unwilling to pay for the badly needed wall then it would be better to cancel the upcoming meeting. Stuart and then this, ladies and gentlemen, President Trump and u. K. Prime minister theresa may, meeting tomorrow. May lead the groundwork for a bilateral trade deal and tells mr. Trump, President Trump together, they can lead the world. Ashley, liz. Feels like Ronald Reagan and Margaret Thatcher. Liz like the 80s power couple. Theyre different, but theyre fixers. Does trump need a trade deal with the u. K. Because hes seen as too protectionist . That could be coming. Ashley shes going to be talking to the congressionalal republican retreat in philadelphia and then meeting with donald trump tomorrow. Two issues to talk about, the economy and trade and National Security and nato, those types of things. Dont forget, the u. K. Cannot do any deal with the u. S. Until it gets out of the eu, and that could be several years. Liz could we just talk about what Iain Duncan Smith said, a excuse me, a conservative out of the u. K. , and said that the relationship wasnt good under obama and looking forward to improvement. Jeepers. Stuart i think we knew that. I dont care about Ian Duncan Smith. Liz talking about the relationship between the u. S. And u. K. Stuart peter. I think that what this is is a breakup with Angela Merkel and watching trump get togher with theresaay is huge change, seismic. The fact is the u. K. Needs us a lot more than we need the u. K. , but this is a part of the first step of the breakup from the eu to say lets have a bilateral deal just the two of us. Stuart how do you feel about Ian Duncan Smith . I love his albums, much more than Barry Manilow. Stuart and priebus said watch for an economic boom. If were an administration that cuts regulation and lower business taxes so the companies can expand. And disincentivize to move to mexico and china and make doing business in america better for them, well, then the jobs are going to explode. Were going to have maybe, three, five, six, 7 growth if these things happen. Stuart peter, 3, 5, 6, 7 growth . Well, listen, its wonderful to talk about it. What were starting to run into for the first time is what we havent heard of in a long time which is worker scarcity. Were having a hard time filling some jobs were creating. Great news for workers because that means your wages are growing up. There are things to put in place before we grow 7 . Stuart stocks straight up, s p, nasdaq expecting that growth. Thats looking forward and if it doesnt come through, this stock markets going to have an accent. Its time to perform. I think were well on our way. Stuart the stream of executive orders continues, one would stop the Syrian Refugee Program and another would cut funding to the United Nations. Thats big news. He has already signed an executive order to secure the border. S going to build the wall. And hire 20 more Border Patrol agents. And he spoke to a packed house after signing the order, says its going to keep our country safer, introduced a mother whose loved one was killed by an illegal immigrant. Were talking to her next. These were great young people and they will always be remembered. Always. We will never forget them. Not all stocks are going to be winners today. Ford is going to be pretty much dead flat. Its announced its looking down the road and seeing lower profits so theres no rally for ford this morning. Should tell you that, thats Ford Motor Company. Two executives orders coming down the pipe, one involving Syrian Refugees. Ashley accepting Syrian Refugees part of the plan and suspend the program for 120 days, and suspend visas issued to terror hot spots around the world and talked about the seven countries for at least 30 days. The interesting part, hes telling Homeland Security and the state department to review exactly what information will be needed to fully vet people coming in from the United States. And when he gets that back from his agencies, he says we need this, this and this, hell tell countries you have to provide this information on your citizens who want to come to the United States. If you cannot provide that information theyre not allowed in the country. Pretty strong vetting. Stuart extreme vetting id say. Yes. Stuart hes also cut funding to the United Nations. What do we know about that one. Liz basically it would be a 40 cut. The u. S. Supplies about 22 of the u. N. s funding. Whats not reported, i think, according to the jewish press, if you track whats reported in israel is now the United States taxpayers pay for schools run by the palestinian authority, that is basically training students to be jihadis and they learn from antiisrael textbooks. And thats an issue. And its also, he wants to stop funding to are making the plo a fullfledged member. Stuart hes cutting that. Liz hes cutting that. Stuart and President Trump speaking at the department of Homeland Security, talking about families who lost loved ones killed by illegal immigrants. Watch this. Laura wilkerson, who lost her 17yearold son, beautiful josh, josh was special. Where is laura. Good. Laura. [applause] thank you. That lady, Laura Wilkerson joins us now. Welcome to the program and its an honor to have you with us. Would you tell us, please, what happened to your son, josh . Yes, my son josh went to school one morning and he had a classmate that was here illegally, we didnt know at the time. He asked josh for a ride home and josh told him he would give it to him. Unbeknownst to us, he was planning to murder josh and he did just that. He kneed him hard in the stomach and it spliced his spleen in two, and he strangled him over and over and set him on fire. Stuart laura, im sure its extremely difficult for you to relate that to us. Thank you. Stuart the man who killed your son was a dreamer. Hed been brought to america as a very young man, didnt ask to come to america. Hes a dreamer and now we find that President Trump will allow those dreamers to stay in america. How do you feel about that . Im not certain about that. I know theres going to be a process to get them out. Weve got to get started and i think what he did yesterday was a great start to this. You know, its going to take a while. Lets agree on one thing, get rid of the criminals, mass deportations can start here. And then assess who is here. No one knows exactly who is in this country and thats a bad thing. Stuart did you reach out to donald trump before the election . I spoke at several of his rallies and we wanted him elected. I knew immediately when he came out and said the words that he did, that he was telling some part of the truth. Not everyone here is a valedictorian and salutatorian and my families know the bad people here and cant continue. So we did speak out to him and answered our call, actually and i knew at that point that i wanted donald trump to win. Stuart now, laura, forgive me for asking this question, a difficult one to ask, but ask it nonetheless. Do you feel in some ways youve been used as part of a Political Movement . Absolutely not. I know what im doing every day. No more than im using him, i guess you could say that as well, right. No, i dont feel like that one bit. Stuart what kind of person is our new president . Our new president is someone who has a big heart. Hes a very kind man. I wasnt sure when i first met him what it would be like. You know, just known him from tv, but its a total different ball game in a room with him. He talks directly to you, and then tunes everybody out and he listens well, hes a kindhearted man who loves america. Stuart okay. Laura, thank you very much for being with us and sharing your story. I know it was difficult, but we appreciate it. Thank you. If i can share one more thing id like your viewers to go to enforce the law. Org and explain what were going to do this year with sanctuary cities. Stuart enforcethelaw. Org. Laura wilderson, dually noted. Thank you. Stuart ive got breaking news verizon. Liz could be buying Charter Communications. It would be an 80 billion dollar deal to counter the at t time warner deal and assessing out the environment for m and a and this deal could happen. Talk started late last year and picking up speed. Stuart a huge deal. 80 billion is a big deal and thats a fact and look at Charter Communications, the company thats going to be bought, probably going to be bought. That thing is up well in excess of 10 , a very big gain. Thanks, liz, got it. Check this out, boeing, showing off new space suits, designed for nasa. Designed to be 40 lighter and less bulky than current equipment. Sure looks like it. And how is this for a headline . Amazon is now worth more than the countrys eight biggest retailers combined. Dare i say, its the most Exciting Company in the world . Im saying it. More varney in a momt. Well, how about this . Amazon stock is up 43 since last january. I say, this is the most Exciting Company in the world, bar none. Thats my judgment. Here is one of the reasons why. Amazon is now worth more than all of these retailers combined. There are eight on your screen, add up their value, combined, its less than that of amazon the peter kernen. Im saying the most Exciting Company in the world and you say . I say its Pretty Amazing amazon was conceived on a crosscountry drive in 1994 and literally when jeff bezos pulled into his garage from that trip from zero in 1994 to today. His idea at the time ill disintermediate books and were a long way from home. This company exploded and now is going to surpass macys as the largest seller of apparel. Its dominating categories. I saw something, russell 2000 company saying, we have growth, we have earnings, good Balance Sheet and we dont compete with amazon. Stuart thats right. Its become a key factor in buying another stock with the big guy. Stuart a newly minted fox contributor with me, steve cortez, most Exciting Company in my opinion is amazon and you say. If the cortez family is any indicating because a box from amazon shows up at our doorstep, stuart, every single day. And the cortezes are loyal and good customers. Seriously, beyond the anecdote of my family, this company is so category changing and the things theyre doing even beyond retail and doing in cloud convinced me, i think youre right, i think its perhaps the most Exciting Company out there. And i think theres probably Biotech Companies and im not scientific enough to know which ones, i think there are Biotech Companies that may truly change our lives that we dont know yet. Of the known knowns, yes, its amazon. Stuart steve cortez, thank you. Stay there. Yesterday, we didnt just break records, we shattered them. The dow rallied 155 and closed above 20k the first time ever. We are going up a little bit more at the opening bell. Up 10, 15 points maybe. A lot of companies are making a great deal of money, its earnings season and looking very good and check your 401 401 k . If you dont think youre making money, check that 401 k . Watch that money grow. The opening bell is next. T eve businesses will need legal help as they age and grow. Whether it be with customer contracts, agreements to lease a space or protecting your work. Legalzooms network of attorneys can help you, every step of the way. So you can focus on what you do and well handle the legal stuff that comes up along the way. Legalzoom. Thatlel help is here. He way. All right, the opening bell, you can hear it ringing. Theyre start to go aplowplaud d theyre going to open at 3, 2, 1. They opened closed at 20,068. And were getting close to 20,100. Yes, we are up just a little bit more. Now, donald trump, the president , he has not said anything first thing this morning thats likely to affect the market or the economy. No dramatic announcements at this point. A couple of executives orders are coming up later, but none of them relate directly to money, wall street, stock prices or the economy, but we have opened a little bit higher. I want to run through some of the stocks, which clearly have been making a great deal of money in this latest earnings season. Look at that. Ebay had a strong christmas, theyre making a ton of money and the stock is up 7 1 2 . Thats a big gain. A possible deal here, verizon may be buying Charter Communications. This is a 80 billion proposal. Charter way up, 8 . Liberty media owns a chunk of charter, thats why the stock is up, but not very much, 3 cents, im not going to call that a rally at all. Cruise line Royal Caribbean, better profits there and look at it go, 6 higher. Comcast is making more money from its cable channels and broadcast networks as well. Up nearly 2 . Dow chemical doing well in the automotive and agricultural divisions. Not much change for the stock. Better home sales and better prices. Thats helping pulte home, their home builder, 3, nearly 4 up on pulte. Record annual profit at southwest airlines. Look at it go. 4 1 4 . It is higher this morning. Who is with us today . Ill tell you. Ashley, liz macdonald, peter kernen, Steven Cortez and scott martin. I want to know this. The market has opened just a little bit higher the day after hitting 20,000. Are we in for another leg up from here . Art with you, scott rtin. We are, stuart, and you mentioned a key point. Just because theres n executive action so far today, the day is young. The market knows more is to come. The market knows that donald trump has businesses first and foremost in his mind and thats whats supporting the market here. We havent seen a pullback below 20,000 and why i think well see a next leg up here. Stuart steve cartez, another leg up coming soon, do you think . I tell you this president has done more in four days and thank the previous two president s did a four terms. He means business, not just the policies, the policies are incredibly important. The attitude, the optimism, its contagious. I think we are in a cycle, greet, optimism, investment. Yes, i think you have to be on board. Stuart were up 9 since the election and youre a trump guy, i know you are, okay. Peter, another leg up . This is a trapeze, were letting go of the trump rally and embracing the earnings rally. If the earnings come through, well ride that one. What comes next, m and a and investment thats exciting and frankly, a lot of back draft from washington in health and finally, at a multiyear low, but the risk in the market is flat as a pancake, that size buy. Stuart you dont hear that very often. Thats a fact. We had breaking news not long ago about Fiat Chrysler. Bringing work and investment back to america. Ashley chrysler ceo Sergio Marchionne, the atmosphere in america is strong to the point that they are mulling, the word they used mulling over bringing production of the heavy duty ram pickup trucks back from mexico. Its a hugely, hugely important market and with donald trump in mind and he says, Donald Trumps policies make doing business in the u. S. Very attractive. He says the infrastructure is already in place to bring back the manufacturing of those trucks. Liz and policies havent been passed yet. Stuart look at it can, 56 for Fiat Chrysler. People are going to accuse them of the same emissions fooling around that volkswagen had. Theyve proven that may not be the case. Earlier you mentioned southwest airlines, anything transport related, automakers, whether its the airlines, the rails. Look at rail stocks, what they have done in the new year, they are vaulting higher. So things are moving, literally. Stuart they are. And the market believes that. Stuart theyre listening to you, the market just hit it, 2 20,102. Liz if it stays here, 19 record closes. And Fiat Chrysler talking about new jobs in ohio and michigan. Stuart new jobs coming to america, thats important. Other movers for you, look at this, Ford Motor Company not performing at all like Fiat Chrysler. In fact, theyre looking out to the future and seeing lower profits. Watch out, the stock is down 2 . Thats Ford Motor Company. Caterpillar, revenue down again, the companys trimmed its outlook and blaming the strong dollar, pretty much dead flat on caterpillar. Johnson johnson, huge acquisition, its buying a european company, 30 billion paying there and actelion makes drugs for Rare Diseases. And raytheon makes Patriot Missile down 3. And whirlpool a declining sales in britain following the british exit vote and taking it on the chin. Out with the wash. [laughter] you waited all day to put that line on us. I say were no close to 20,100, i think the profits reported by major corporations right now are almost as important as the trump rally. Scott martin, what say you . I agree and i think amidst those profits, stuart, look at top line earnings numbers which finally are coming in good. The revenue numbers are starting to beat as well. Remember for the longest time in the s p 500, companies would beat on the bottom line, meaning the profit numbers, but the revenues would come in weak and thats exciting for the spf. Stuart profit dominating, peter . I think its the next phase where we should be. Stuart profit dominated . I think that the earnings recession we were in got too little attention. I think the earnings expansion might get little attention. The prime driver is trump, but growth was accelerating. Stuart that could give you the leg up. With the trump boost. Speaking of your homeland, you mentioned theresa may meeting with donald trump. If we can get a revitalization of that relationship and get back to the reaganthatcher days, imagine what that could do for business. A bilateral Free Trade Agreement quickly with the u. K. , a blueprint going forward. Stuart a theme on the show throughout the next three hours, believe me, were on it. President trump, yes, build a wall he says and spend big on infrastructure and the companies focused on construction and engineering up big since the election, on your screens, 41, 42, 31 , so those are were going to quote a border wall stocks, and others, eagle floor corporation, jacobs engineering, all are up in very significant percentage tms just sin the election last ye, when infrastructure and building the wall became apparent. Now, would anybody around this table buy into what were calling border wall stocks or infrastructure stocks at this point . Bearing in mind the runup they have already had, peter . If you look to caterpillar, big supplies to oil and mining, theyve been soft. If youre patient, a return there. Watch the steel stocks, its unbelievable and that market has been asleep. You can get in and plenty of room to grow. Stuart the same question, scott martin. Theyve gone up already. Will they go up more . Would you buy in now, expecting them to go up some more . I would, stuart. I love the material stock. Border wall or not, theres still a lot of demand thats pent up. As peter mentioned. A lot of the stocks have been asleep and Commodity Prices have been depressed for the last couple of years, youre going to get big if you put money. Stuart its all bullish. A little cold water. As much as i love donald trump i believe theres going to be serious tension around trade, scary moments where it looks like a trade war, we wont have a trade war and it will look like that, when that comes in the coming weeks and months, and i believe it will, the markets will get fearful. Liz hang on, that will hurt our exporting companies, right . But if and when that happens ive got to get to the floor of the new york stock exchange. Nicole, what do you have for me this morning. Nicole im talking toys, because toys are the big losers today. In fact, on the s p 500, breaking out to new record highs, has a couple of losers, mattel and hasbro are in the top three losers as weve watched mattel over the last couple of years try and regain strength. Right now, mattel is down 14 and has been down 6 on the news of the latest quarter from mattel weak holiday season, competition, promotional environment, and amazon, of course, is an exception because they saw toy sales surge. Toys r us talk about this. What happened to mattel, you go back to 2015. They were struggling five quarters in a row of declining sales and changed ceo and last year they saw a pickup with barbie and the like, but the last quarter is relatively flat in the promotional environment. The ceo is stepping aside and bringing in a former google executive now to run the show, to try and move things forward. So, the toy overall, that sector, is under some pressure, but mattel and hasbro really feeling it today. Not only the competition from amazon, but princess dolls, and doing okay with the hot wheels. Stuart ill remember that one for my grandchildren. Strong holiday numbers for ebay and the stock is way up, 5 up. Does anybody still buy stuff on ebay. Liz yeah. Stuart you do. Liz yeah. Stuart we asked the question around the Production Company and nobody touched it for years. There used to be ebay addicts and and they took paypal, but a good growing business, but nothing like the luster. A good holiday season. Stuart up 5 . Lets talk about snapchat for those of you who dont know what it is. I do. Its in talks for a big ad deal, several big ad deals ahead of going public. They want 100 to 200 million from ad companies, thats what they want in advance of going public. Are they going to be bigger than facebook . I mean, scott martin come into this. Youre a young man and you know all about snapchat. Is it going to be bigger than facebook . They want to be. Formerly a young man, stuart. And funny thing about snapchat. Keep your eyes peeled. Everybody is using snapchat. And a couple years ago facebook was trying to get snapchat and google and they didnt take the deal. Remember, this is a social media stock, not as strong as facebook so as good as snapchat looks today, it could be trash in a year. Stuart trash in a year, thats a statement. Go ahead. What snapchat has to do, twitter had a whole lot of users, but not a sustained business model. Snapchat says let us resolve the question, whether there are advertisers before we go public. A wise move on our part. Stuart its the biggest ipo. Year. A lot of drama and a lot of people are asking the question, will there be a business rational other than kids like to use it . I think its shrewd of them to do this. Liz Hillary Clinton says she should have used it, joked about should have used it. It erases itself. I have teen daughters who absolutely live on snapchat. And the problem is teens are fickle. Young people, you know, lets not forget my space. People can quickly change platforms. Its a good business, bigger than facebook, i dont know about that. Stuart just because kids like it doesnt mean it will be a wonderful trillion dollar company. Kraft heinz and oprah be getting together on a packaged food line. Remember, she announced her investment in weight watchers, remember that . The stock is down 12 since last january. No reaction from kraft heinz this morning. Now, the ceo of the spice company, mccormick, Everybody Knows mccormick from the supermarket. Theyve got their own display area. Even i know that. They say that a border tax poses a problem for them because you cant move the equator. You cant grow their spices in america, they are always going to be grown down south and theres a problem with the border tax. Ashley a good point. A company who is having to import products because these particular spices grow by the equator and to their ceos point we cant move the equator. Is that unfair . Probably. Stuart the stock down 19 cents, hardly a catastrophe. How about this, since the election, 2 trillion have been added to the wealth of the nation. In other words, the value of all publicly traded stocks has gone up by 2 trillion. I say thats a positive, peter. You get the wealth effect from all of that extra wealth in our society. What say you . I say one of the things people havent seen the additional wealth effect that the dollar is going up. Everybody is freaking out about a strong dollar. A strong means what you have is worth more. Theres an effect here more powerful. Liz enthis youve got analysts worrying, Hedge Fund Guys saying a strong dollar means a currency crisis somewhere, including china. Stuart 2 trillion since the election added to the nations wealth. I cant see that as a over the longterm the strong dollar is a boon to the american consumers. Liz china doesnt have a strong currency, its been spending forward reserves. One reason i think that china is a house of cards. And i think that its unsustainable. Stuart if you added 2 trillion to the nations wealth and peoples investments have gone up nicely, are they not inclined to buy a second house or youre talking the wealth effect. Stuart the wealth effect. Isnt it obvious . Were up 9 on the dow since the election, the s p and nasdaq and weve lost much of the early this morning 7 points. But were at 20,077 as we speak. Last words around the block here, what are you going to say. You couldnt get to 21,000 on a trump rally and you need earnings power and thats where the markets going. Stuart scott, do you think theres another leg up coming, do you . We lost him. Oh, im sorry, we lot scott, i think we lost the satellite feed. Okay. Ill fill in for my chicago friend, scott martin. Its morning in america, its morning in the markets right now. The American Economy has been like a runner wearing a weighted vest. That vest has been taken off. You played some Barry Manilow to open the show. And we made it through the bush and obama. Im critical of bush, slow growth. And now its time for sunshine and time to grow. Stuart you guys are talking about whopping great big rally to come. I think there will be hiccups, i think primarily on trade, but those are hiccups to buy. Stuart are you carried away, peter . As carried away as i can be. The honeymoon is over, but the good news love carries on. Stuart and i want to thank everybody to participate in the second day of the 20,000 dow and we will be back. Achoo snap achoo snap achoo achoo snap snap achoo achoo feel a cold coming on . Zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45 . Shorten your cold with a snap, with zicam. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. President trump and the republican, yes, they plan to cut taxes across the board and congress us now is the republican from illinois and tax policy subcommittee chair. Congressman, welcome to the program and great to see you. Thanks, stuart. Great to be with you. Stuart a lot of conservative, a lot of people who want to see the economy get going are very worried that we wont get the tax Cutting Program through until late summer. What say you . Well, i say theres an urgency to this and theres timing and here is what weve got to be mindful of. Weve got to move with dispatch and momentum and move forward expeditiously, but you didnt jam tax reform. We know from the Affordable Care act, and we know what happened when they tried to jam it. Lets flip the game board and come up with an entirely new tax system, we can do it. Stuart but were going to repeal and replace obamacare first, that does take time. That means you cant really do tax reform until you finish it in july or august. Thats got a lot of people worried because that wont jump start the economy early enough. Is it going to be july and august . Well, i think july and august if we get this signed into law in july and august, thats pretty quick. Stuart so you think you might be into the fall of this year . Thats a shock to a lot of people. Not necessarily. Look, here is what i think. I think that these things can happen simultaneously, so, in other words, the work on obamacare, repealing it and replacing it is happening. At the same time, youre seeing an aggressive move on tax reform. Tax reform went from being a total outlier concept a year ago to more likely true than not true. So we dont have to wait for Obamacare Repeal to do the work, and part of the retreat this weekend is doing the work the ways and means blueprint and so forth is well underway. Senate colleagues are engaging substantively with their vision of this. So i think, im very upbeat, stuart, based on what ive been hearing at this conference and retreat and based on the disposition of the premium who says he wants to fundamentally reform the tax code. I think its imminent and upon us and get done. Stuart can you tell us if its going to be backdated to january of 2017 . We want to avoid retroactive that hurts people that they didnt anticipate. But there if theres a back where for energy, were better off. Stuart peep want to know what were going to get not necessarily wait until september and october when the president signs the bill, but if we know what we were going to get in march, april or may, for example, then companies and individuals can act on that and adjust their future spending and investment. I think thats what people want. They want to know what are we going to get and they want to know as early as possible. Is that accurate . Yeah, i understand that. That makes thats a fair point, so here is what weve been proposing, to collapse these rates down at the individual level from 7 rates down to 3. Highest rate 33 and then 25, then 12. The subsume a whole lot of small deductions into a larger standard deduction, keeping mortgage interest and charity continually and reworking as to retirement and education saving and a Child Tax Credit and earned income tax credit, getting rid of the amt, all of those on the individual said and then on the corporate side, getting the rate down to 20 , having 100 expensing and making some of these other changes to make us more competitive, that can be transformational and what we, i think, are recognizing, my district and all kinds of folks across the country, are realizing, this current tax code is a disaster, it is an island that is dissolving underneath us. We cannot stay on it because its failing. Weve got to move and move expeditiously. Stuart real fast, congressman, i know youre from illinois. In chicago last night, another six people were shot, they were attending a vigil for someone who had already been shot and rahm emanuel, the mayor of chicago basically wants some federal money. Do you think he should get it . Look, i think the mayor should stick with governing chicago. There is a real the heartbreaking nature of the crisis in chicago is now worldwide news and i think that, you know, the mayor is getting into a tussle with the administration about sanctuary cities and so forth. I think hed be much better off concentrating on the city of chicago rather than opining on other things. Stuart pete, thank you for taking time out. I know youre an extremely busy guy and we appreciate you being with us this morning. Great to be with you. Stuart thank you. Thanks, stuart. Stuart britains Prime Minister theresa may says she and President Trump could team up and lead the world. Cant help, but remember Ronald Reagan and Margaret Thatcher when they teamed up. How about that . Those were the days. My take on that the top of the next hour. Here we go. At angies list, we there are certain things you can count on, like what goes down doesnt always come back up. [ toilet flushes ]. The right person for the job. Discover all the ways we can help at angies list. Because your home is where our heart is. Stuart going to be the first summit in President Trumps presidency. Theresa may says the uk and the u. S. Could lead the world. The brits shocked the world to leave the European Union. America shocked the world by electing donald trump. There is strong antiestablishment, antielite movement that is catching on elsewhere. This trade, trump is upsetting the established trade order and britain wants a new partner. A deal suits both sides. That would be a powerful symbol which other major states want to do a trade deal with america. Which want to do that deal . There are plenty of them to enjoy the biggest market of them all. Edge maybe other nations would sign on to new vigorous leadership of judeochristian democracy. Does this remind you of the thatcherrage ban relationship shaped the world for a generation. There are clear parallels. They liked each other back enthis they needed each other. When they worked together they beat the soviets and returned both nations to prosperity. Churchhill and fdr, thatcher and reagan, lets hope for more of the success from may and trump. It might just happen. The third hour of Varney Company, no, the second hour of Varney Company is about to begin. Stuart that follows on from my maytrump idea, everybody wants to rule the world. That is in advance of the meeting tomorrow at the white house. Britains Prime Minister and donald trump, president of the United States, more on that is coming up. I have breaking news though, housing numbers. First off Mortgage Rates, liz, the number . 4. 19 . It is going up. It was trending down for three weeks. Now it has turned and going up. Median price house up yearoveryear 9 . It is really popping these housing prices. So we have to watch the homebuilders, no actions just yet. Stuart Mortgage Rates up a tad around 4. 2 . Liz correct. Stuart housing numbers, new home sales . Ashley down 10. 4 in january, december, im sorry. So that is we have very mixed numbers from the housing sector. We had housing permitsp but Mortgage Applications way down. Not enough homes on the market to be sold. Prices are going up. People having a hard time getting a mortgage which is more expensive right now. So a lot of mixed messages from the housing. But there you go. Home sales down last month 10 . Stuart is there any stock Market Reaction to that . We went up a little bit more as the news is breaking. President trump meeting about mexico, ash . Ashley this is interesting. This is donald trump i guess at his best when it comes to being combative. This is what he tweeted this morning. The u. S. Has a 60 billion trade deficit with mexico. It has been a onesided deal from the beginning of nafta, with massive numbers of jobs and companies lost. This is where mr. Trump brings, this is where the foot drops. If mexico is unwilling to pay for the badlyneeded wall, it would be better to cancel the upcoming meeting. Stuart tensions are rising. There is meeting next week. Ashley pushback from leaders of mexico. Donald trump saying, hey, were going to push back too. Already the rhetoric heating up. Stuart that is what President Trump does, he pushes back. You push him, he will push right back. That is what is happening now. Ashley yep. Stuart theresa may, britains Prime Minister wants to lead the world along with President Trump. Washington examiner, columnist, lisa booth is with us. What do you say, lisa. Hi, stuart, good morning. Stuart i didnt invent this off the top of my head. It really does remind me of Margaret Thatcher and Ronald Reagan in the last generation. I think there is a possibility for a similar linkup tomorrow. What do you say . Absolutely. I think both countries are trying to reassert themselves on the world stage, globally from a economic standpoint. Also from a Foreign Policy standpoint. Theresa may is trying to lead britain out of the eu at the current moment. President trump says he wants to renegotiate a lot of these trade deals, sort of reestablish the United States in this global economy. So it is exciting times for both countries right now. Stuart both leaders have upset the applecart so to speak, because the brits rejected the European Union and we voted in donald trump which is a very different presidency. It seems like, its a natural fit. Both want a trading partner. Theyre both leading antiestablishment, politics essentially. It is a natural filth. Think they both need each other at this point. Absolutely. There is a lot of similar parallels going on right now. As you just laid out, you laid out in your Opening Statement about this subject matter. I think more importantly it is important that she is going to go to speak to the republican conference as well, because theyre meeting right now what is the agenda for this country for the next 100 days. So it is important for everyone to be in concert together. Stuart i had for gotten that but theresa may is addressing the republicans at their meeting today. I dont remember that before, a foreign leader addressing one Political Party right before that leader meets with the president of the United States. Thats unusual. It is unusual. I believe that this is a first as well for that to be happening. So i think it is exciting times for the country. Obviously markets are responding well to President Trump. Businesses feel sort of reinvigorated as they see that President Trump, as he moves forward with the pipelines, going to get the economy moving again. I think there is a lot of exciting stuff happening in this country right now. I think for americans looking for goodpaying jobs, this is an exciting time right now. Stuart ignore the media, lisa. Look what is going on. Another rally on wall street. Economy is expanding. Profits are all good. You have to carefully parse through it, yes. Stuart you really do. Watch carefully. Look at this the dow industrials now at 20,105. Were up 36 points, 40 points. Here we go. This is a slight extra leg up. There is a possibility of a huge deal here. Verizon may be buying Charter Communications, and that puts Charter Communications up 5 . This is an 80 billion liz could be 85. Same difference. Sorry. Stuart you make a good point, 85 billion may be. Liberty media owns a chunk of charter. Charters stock is up and Liberty Media stock up 1 . Ebay, remember them . A lot of people still use ebay. They did very well over the holiday period. The stock is up 6 this morning. This is part of the profit rally. Corporations turning in very good profits. Ebay amongst them. So is Royal Caribbean, cruise line. Better profits, that stock is up 8 . How about comcast, cable channels, broadcast networks giving a nice juice up. That stock is up almost 1 , almost a buck higher. Dow chemical doing well in the car business, whatever they got in the car business, it is up a buck. That is 1. 7 . Look at this record annual profit at southwest airlines. That is good enough for a 6 gain for southwest airlines. Long time since we saw airlines. Ashley because they nickel and diou to death, thats why. Stuart okay. We have a very special guest, a man ive known for a generation, that kind of dates me, there you go, Scott Mcnealy. Welcome sir, great to have you on the show. How are you doing young man . Stuart yes, okay. Scott, ill take that, very, very much indeed sir. You want to talk a little bit politics, do you not . If im not mistaken you think trumps going to be a fine president. Make your case. Well there is certainly the hope for that. I have always said the world worst ceo would be a thousand times better than the best politician and i really believe there is a huge opportunity im a capital it, a raging capital it. I believe capital elf brings people out of poverty, which drives standard of living and selfesteem. We all have a job. We need to drive the Labor Participation rate up off 40year lows. We have opportunity, somebody who understands cost of capital, who understands development, who understands filling out tax forms we have to filling out tax forms today. He really understands the jobs and economy in a way long, long time, i have never seen anybody who is developer and entrepreneur in charge and understanding what really projects capability in our country. Stuart youre a california guy. Youre a Silicon Valley guy. Youre the founder of sun microsystems, for heavens sake, yet you are saying trump could do very well for this economy. That is a very unusual statement because of where you come from. Are you, you almost totally alone out there, arent you . I, not totally. There was actually a group of people who got together, i think there were six of us, had a little get together that talking about the hope and opportunity. Im a mid werner, from the rust belt, grew up in the auto industry, grown up in detroit and see whats happened. There is opportunity to drive technology and software piece but also drive the hardware and Manufacturing Services piece back into our economy. And im excited about the energy. Tax code, trade agreements. Lots to do getting our deficit down, all the rest of it. It is a very multifaceted it is death by not a thousand cuts, but death but a thousand stab wounds and we need to work each one of those. Nice to have somebody that understands the core of capitalism. Stuart i need to talk to you about your new company, not that new, it is your company. It is called weigh in. You have data on 114th of the entire population of the world, i believe thats correct, one in 14 of all humans you you have full data on them. What are you going to do with that data . It is what our customers do. This is voluntary optin data captured through the new ear of not tv print, and billboard and naming rights kinds of advertising but through the Digital Marketing experience and engagement experience. Were building out a cloud environment that allows advertisers and companies that are selling stuart scott, let me get this right. You have got all this information, all this data and you sell it to advertisers, that is pretty accurate . No. The advertisers, the brands are tually capturing this data vontarily rough our cloud from the customers so they know what they like, what they want. They do, they get reviews on their product. They do contests and do sweepstakes and that allows them to have better understanding who their customers are and what they want. It is all voluntary. It is all optin. Were much more excited to share our data with somebody who were doing business with, who were buying products from, than the random stuff where it is somebody tapping into my email stream or whatever without me knowing. Stuart Scott Mcnealy that is negative privacy invasion. Stuart next time you come to new york, come on the show, sit next to me in the studio, have a discussion about this because i find our discussion fascinating. Thanks for joining us. I would love to do that, stuart. Stuart thank you, appreciate it. As we were talking to scott, you may have seen another leg up for the market. 20,120 is where we are. President trump signing an executive order on the wall. It is coming in month he says. Illegal immigrants will get a oneway ticket home. Were speaking to a border agent in the room as trump signed that executive order. How about this, Madeleine Albright is ready to register herself as a muslim. Well be right back. Stuart moments ago House Speaker paul ryan held a News Conference with Senate Majority leader mitch mcconnell. It was in philadelphia. They were talking about the budget. Watch this. If were going to be spending on things like say infrastructure, well find the fiscal space pay for that in our spring budget. Stuart if were going to spend on infrastructure were going to find the space for that. What . Liz this is standoff between fiscal hawks. Paul ryan doesnt want new spending he is fiscal hawk along with mitch mcconnell. Saying we need to do spending to fix nations bridges and roads and basically with jobs. Who bends first, who backs down first . This is standoff happening in congress. Stuart ryan and mcconnell do not want to increase the deficit. Ashley right. Stuart donald trump doesnt mind if you increase the deficit. Standoff. Theyre all meeting together today. Liz correct. Well watch who bends first. Stuart former secretary of state Madeleine Albright says she is ready to register as a muslim, presumably, this is about, over President Trumps refugee policy . Ashley yeah. Dold trump want to suspend the fugee program for 120 days. She put out a tweet that says, this is Madeleine Albright, former secretary of state. I was raised catholic, became an episcopalian but found out later my family was jewish. I stand ready to register as muslim in solidarity. She has been a vocal critic of trump and campaigned for hillary. Liz muslim doesnt want a muslim reg city period. There is nothing about a religious test. Enough already. He doesnt want a muslim registry. When it Madeleine Albright rest of that side of the aisle going to get it . He is saying no to that. Talking about terrorprone countries. Sorry im upset. Stuart youre all right. President trump speaking to abc news says he believes some torture practices are effective. Watch this. Mr. President , you told me during the one of the debates you would bring back water boarding and a hell of a lot worse . I want to keep our country safe. I want to keep our country safe. What does that mean . When theyre chopping the heads of our people and other people, chopping off heads of other people because they happen to be christian in the middle east, isis doing things nobody ever heard of since Medieval Times would i feel strongly about waterboarding . As far as im concerned we have to fight fire with fire. I have spoken as recently as 24 hours ago, with people at the highest level of intelligence, and i asked them the question. Does it work . Does torture work . And he answer was yes, absolutely. I will rely on pompeo and mad disand my group. And if they dont want to do it thats fine. If they do want to do, then i will work toward that end. Stuart very interesting conversation. Come on in please, oliver north, host of war stories on the fox news channel. Ollie, welcome back to the program. Good to see you you again. Im sure you were listening there to what President Trump said about waterboarding. Essentially he is saying fight fire with fire. Does it work . Answer yes. Where do you stand on this . Look, first of all waterboarding, hot boxes, sleep deprivation, loud noises werent defined as torture until 2015 when congress passed, obama signed a bill limiting interrogation tactics to measures described in the u. S. Army field manuel. I guess,. Of the measures now defined as torture were routinely used in n survive escape, resist training. I ran the program in 1970s, to enable pilots to resist interrogation if they were captured. Use all the techniques including poisonous snakes to train them. Most important, absent another 9 11 01 attack likely in his statement, congress will not change the law, defense secretary mattis or pompeo will have their sub board nantz change the law. Changing it would take congressional action. Stuart does it work . Yeah, thats why we train people in it. Stuart the answer to the question is a very important answer whether or not we do it again in the future. Given your druthers, ollie, would you do it again in the future . As a matter of policy, no commanderinchief should tell our enemies what we wont do. That happen ad lot in the Obama Administration. The current Army Field Manuel could have been written by Osama Bin Laden or albaghdadi, it is so proterrorist if you will. If we had information regarding an impending Nuclear Attack on the United States, or an ally, what techniques would we be willing to use or deter or prevent the attack . That is the question need to be asked by members about congress who said they will not change the law. Stuart wellsaid. Ollie north, sorry we cut it short. It is very important subject, appreciate your input on it. Ollie north, everyone. Yes, sir. Stuart and this, President Trump preparing an executive order that would cut americas funding of the United Nations. Not eradicate it, but cut it. The Market Making history, President Trumps Economic Advisor, steve moore says, its going to go up even more. And that every american should be singing in the streets. More varney in a moment. Ive spent my life planting a sizesix, nonslip shoe into that door. On this side, i want my customers to relax and enjoy themselves. But these days its phones before forks. They want wifi out here. But behind that door, i need a private connection for my business. Wifi pro from comcast business. Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. Anything with a screen is a tv. Stream 130 live channels, plus 40,000 on demand tv shows and movies, all on the go. You can even download from your x1 dvr and watch it offline. Only xfinity gives you more to stream to any screen. Download the xfinity tv app today. It does seem youve been asking a lot of very personal questions that dont have a thing to do with my qualifications for this job. [laughter]. Stuart remembering the life of actress Mary Tyler Moore who passed away yesterday. She won seven emmy awards over the years and was nominated for an oscar. She inspired a generation of female journalists when she played the character mary richards, 30yearold associate news producer. One of the first femalefocused sitcoms. The Mary Tyler Moore show. Gone at the age of 80. Lets check the market for you. Looking good, 2point higher for the dow industrials. Close to 20,100. Here is a stock, couple of them moving today. How about jetblue . Profits better than wall street was expecting. Up goes the stock, not much. That was just over 1 on jetblue. Nikki haley sworn in as americas ambassador to the United Nations. All that as President Trump says he is going to cut funding at the United Nations. By how much and which funding . Liz 40 of the u. S. s funding to the United Nations. And in particular, he is noting the funding for schools in palestinian territory basically trains jihadis. That is what the Israeli Press has been saying. They also give their student antiisrael textbooks to read. So and he is also freezing, looks like willing to freeze that 221,000 parting gift ashley million. Liz sorry, million, parting gift from obama to the palestinian authority. Ashley good. Stuart good. I think our viewers will be in accordance all just been mentioned. Moving on. Chief of staff to the president , Reince Priebus, promising growth of up to 7 . We got him on tape saying that. That is quite a growth rate. Meanwhile President Trump says the wall with mexico is coming and that mexico will indeed pay for it. Remember when he said this on the campaign trail. A nation without borders is not a nation. Beginning today, the United States of america gets back control of its borders, gets back its borders. [phone ring] hello. Hi, its anne from edward jones. Im glad i caught you. Well im just leaving the office so for once ive got plenty of time. Whats going on . So those financial regulations being talked about . They could affect your accounts, so lets get together and talk, and make sure everythings clear. Thanks. Yeah. That would be great. Weve grown to over 900 billion in assets under care. By being proactive, not reactive. Its how edward jones makes sense of investing. Stuart President Trumps plans for Immigration Reform moving forward. He signed executive orders yesterday. First step towards building that wall. He also plans to hire 5000 new border agents. There are 21,000 right now. So at that is a significant increase. Our next guest standing right behind the president as he signed those orders. Border patrol Union President brandon judd is with us. Welcome to the show, sir. Good to see you. Good morning. Thanks for having me on. Stuart an extra 5000 boer patrol officers. Sounds like a big increase in the numbers. In your estimation is that enough . It is enough. In fact, if we were able to put all of the agents that we currently have on the border we would be able to secure the border, given that we get the additional technologies such as a wall, we would be able to secure the border now but that 5000 additional agents is going to help us exponentially. Stuart you say you would secure the border now. Whats missing then . Well, unfortunately we have too many of our agents that are currently doing jobs other than securing bottomedder, such as, we have agents that are in Pr Department for the agency. We have agents doing labor employee relations, instead of actually on the border securing the border. So we do need those, if the agency determines that those individuals are needed in the places that theyre at, then we do need that additional 5000 agents in order to secure the border. But i will tell you with the number of agents we currently have, if those agents were on the border, we would be able to secure the border. Stuart brandon, hold on a second. Im going to run a sound bite from President Trump yesterday, laying it on thick there, were going to build the wall, quote, within months. Watch this. They are going to pay for it. I never said they would pay from the start. I said mexico will pay for the wall. When does construction begin . As soon as we can physically do it. Within months . Within months . Certainly plan something starting immediately. Stuart can you comment on that brandon, Start Building the wall within month. You have to be excited. If you look at first couple days of this president he is taking a business approach to government instead of a bureaucratic approach to government. Anybody Border Security proponent they have to be excited. He is already getting surveyors ready. He is already working on where the wall is going to go, what strategic locations, where we need the wall in order to help the agents be as successful as possible. It is exciting, stuart. And the agents, they feel the excitement. Theyre excited. They want to work. When have you seen employees come to their employer say, we want to do more . We want more work . That is what our Border Patrol agents are doing right now. Theyre excited because we have president who really wants to actually secure the border as oppose odd to the last eight years. Stuart will you tell the American People, if you build the wall, we dont know exactly with kind of a wall it is going to be, how high, how long, theoretically you say we build the wall and weve got another 5000 border guards, will you tell the American People that yes, that will secure our southern border . This president has the political will to do what is needed to secure the border. I am very confident under this administration we will secure the border. Stuart all right. Brandon judd, thanks for being with us this morning. You were in great company, we saw you standing right behind the president. Thanks for being here, brandon. Appreciate it. Thank you. Stuart infrastructure stocks, weve been talking about the wall and building bridges and roads, those infrastructure stocks have done very well since the election. Have they not, Cheryl Casone . They have been doing great. There are so many different can stocks connected to the building of the wall. I want to give you stocks for example that are on fire that would be readily, ready to go for donald trump to build the wall. Company like acon, up 40 since the election. Largescale construction, design building. U. S. Concrete, up 40 just since the election. Orion group, 30 , construction services. Eagle materials up 2 28 since the election. They would jump right in and build immediately. Stuart these are not wall stocks. All these stocks have not gone up like this just because we might build a wall. They have gone up because we might spend a trillion dollars on infrastructure. Sure. I wanted to pick specific Companies Involved in the process of building the wall in particular. These are stocks to watch. Verizon, they have Surveillance Technology that can also be incorporated into building that wall. That could be a name to watch. In my opinion, not just stuart thats good. Meyer group up 2 . Thats electrical. Theyre also construction but active on the electrical side of it. There are some different plays here. Jacobs engineering as well. Design, construction, concrete, ready to go. Of course cat, which i know you talked about, but i still think cat is another name we should watch. Stuart talking about a trillion dollars worth of spending on infrastructure the next 10 years, you will see a stock Market Reaction. Thats what weve got. Exciting to watch, if he is talking about the type of infrastructure overall in particular, if it is going to be in months with that wall, watch out for these names. Stuart i wonder if they can go up some more. 40, 50, 60 up already. Youre not a forecaster . I understand that. Im intrigued. Im intrigued. Giving you the numbers so far but and theres other sectors. I have got more. I just had to condense for time. Stuart you did well, because on the lefthand side of the screen happening now President Trump is about to head to Andrews Air Force base. Air force one on your screens. President trump has not left the white house left but he is going to philly to meet with ashley go. Op lawmakers, congressional gop lawmakers for their annual retreat. Its a policy retreat. First time for him to talk to the gop as a whole. Republican lawmakers, come on donald trump, i do not want to hear about voter fraud, i do not want to hear about crowd sizes. Lets talk about policy and immigration issues and perhaps at the very forefront, lets talk about health care reform. How is this going to take place . Can we come together on a replacement plan for obamacare . Stuart theresa may is going there. Liz to address the republican meeting. Never happened before. Stuart never happened before. That is most unusual Prime Minister of Great Britain addressing republicans. Ashley by the way democrats are very upset about that. They feel like theyre snubbed. Stuart the world has turned upside down. That is the tune they played when the brits lost to the yanks back in 1776. The world turned upside down. Fun facts. [laughter] mayors of sanctuary cities pushing back on President Trumps transformation of immigration policy like mayor de blasio of new york, mayor emanuel of chicago, holding rallies and protests around the country. Bostons mayor lit up city hall in red, white and blue, for immigrants. I think he is missing the point. Did he light it up for illegal criminal immigrants . Is that what he did. Ashley undocumented were supposed to say. Stuart joining us former nyc, that would be new York City Police commissioner bernard kerik. Theyre pushing back and President Trump is pushing in the first place. Who wins . The president is going to win on two fronts. One, i dont know how any mayor or governor, they can make a decision theyre going to violate the law, number one. Number two, the president has the money. And he is going to hold the money, and hold them accountable for any money that he gives them federally. They want to push back, they can push back. They can have all the protests they want. I dont think it will help them. I think the bottom line sanctuary cities are creating sort of a criminal empire, haven, if you will. Chicago is an example. If you took the money that they put into the sanctuary stuff in chicago and you put it into Law Enforcement and crime reduction, he wouldnt have the problems he has today. Stuart theyre putting a lot of money into the sanctuary . They have to take care of these people, no . Stuart you have got a point. Hold on a second, bernie. We have news coming out of chicago. Liz, lay it on me please, this is not a dramatic story from chicago. Liz it is disturbing. We were talking about it earlier. There was a vigil for a 20yearold who was shot and killed. There were six people shot at this vigil. So sort of going through a circus hall of mirrors what is going on in chicago. Apparently reportedly the mother of the victim was shot and a 12 yield girl shot at this vigil. Stuart good lord. Stuart, this is new york city back in the 90s. Keep in mind new york city had 2,000 homicides when Rudy Giuliani came in 1994. People said it couldnt be cleaned up. Over eight year period him and i and bratton were in office, those numbers were reduced, homicide was reduced by 70 . Violent crime reduced by 65 . They didnt do it by coddling inmates or coddling crime, crime guys. Stuart im waiting for the day when rahm emanuel stands up to use taxpayer money to defend a criminal alien that raped somebody. That is already happening. Theyre already doing it. Stuart bernie, we appreciate your input always, sir. Thank you. Stuart President Trumps chief of staff Reince Priebus, President Trump could get us 7 growth. What does trumps Economic Advisor steve moore think about that . He is with us. He is coming up in a moment. First, this day in history, all the way back 1998, at the height of the Monica Lewinsky sex scandal, remember when bill clinton said this i want you to chrisen to me. Im going to say this again. I did not have sexual relations with that woman, miss lewinsky. At angies list, we believe there are certain things you can count on, like what goes down doesnt always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. Discover all the ways we can help at angies list. Ashley the dow moves past 20,000 and the rally continues. Former Goldman Sachs partner peter keirnen says you can thank President Trumps economic plans. Roll tape. Were in a legitimate earnings season. This is looking pretty good right now. People are moving from the trump rally to lets show how we can do it rally and theyre starting to do it. These kind of steps build a second leg above 20,000. Stuart a second leg above 20,000 . Is that primary because these profits are so good . That helps. If you take in profits and add stimulus coming and legislative initiatives coming like tax cuts, regulatory reform, infrastructure, that all says, a great stiff wind at the back of this market and this economy. Living free, this philadelphia freedom stuart why would we play you elton johns philadelphia freedom . That is air force one. It will go to philadelphia very shortly, carrying President Trump. He is going to meet with the gop where theyre talking about tax cuts and repealing obamacare. By the way, britains Prime Minister theresa may will also be in philadelphia, meeting with the gop. Democrats dont like it. She is going anyway. Check that anyway. Were another leg up for the rally. Were at 20,108. How about that. Look at johnson johnson. Theyre buying a european drugmaker actelion, for 30 billion. This Company Makes drugs for Rare Diseases and its up 19 . They are being bought out. Weak, very weak holiday sales at mattel. The stock set for its worst day in eight years. It is down 14 . Trump rally, call it what it is, the trump rally, it rolls on. Trumps Economic Advisor steve moore is with us now. Steve, you say the nations wealth has exploded. I know this is factually true. Its up 2 trillion since the election. I see that as nothing but good, and i see it having a positive influence in the future. Agree with me. Yeah, there is a wealth effect, no question about it. Over half of americans own stocks. So when you see that 2 trillion increase in wealth, most of that is in, is the stock mket, theans americans can spend more. You looked at some of those, mattel, Retail Companies that havent done so well recently, you know if americans feel theyre wealthier and more money the savings account and in their 401 k accounts they spend more. This is good news for investment. Eventually for consumption and retail as well. Stuart i think it is good news for the second home market as well. You got it. Stuart steve, earlier i spoke to congressman peter roskam, the policy committee chair, i asked him if tax cuts will be retroactive to january the 1st. Listen to this. Is it going to be backdated to january the 1st, 2017 . I dont think a decision has been made on that yet. There will be a lot of other people will have input. We want to avoid, we want to avoid anything retroactive that hurts people that they didnt anticipate. If there is backtracking benefit we can do to make it get the tax cuts and energy out there earlier were all the better off. Stuart steve, he would not say yes. That is a little ambiguous. Stuart im worry about that. What say you . I am too. Would be very wise for paul ryan and donald trump and stuart im with you on that one. We are absolutely right. Some people were upset with our dow 20k covering. They say we got carried away with stocks. I believe when you cover the screen with numbers and quit showing the people on the show. Last one from andy. There was a fun, exciting discussion on set. Its like hearing ager rogers throwing a hail mary. Its better than our competition which never cracked a smile at 20,000 on the dow. What do you make of this. Ashley we put the dow up there because it was such an iconic number. All you could harper was voices over it. Stuart its a big deal for america. Liz we have a lot of listeners on radio, too, but i know what you are saying about graphics. Stuart we do have a lot of listeners, and its President Trump from here on out. Well be back. O stanley. And thats kind of it right now. But rodney knew just what to do. He got quickbooks. It organizes all his accounts, so he knows where he stands in an instant. Ahhh. Thats a profit. Which gave him the idea to spend a little cash on some brilliant marketing ha, clever. Wow, look at all these new students way to grow, rodney know where you stand instantly. Visit quickbooks. Com. Stuart do you know how little attention the media is paying to the trump stock rally . But they are ignoring anything that is a big plus for any of us. Anyone with an ira or a company plan, you are doing well. Even the near insolvent government Pension Funds have more breathing room now. Even if you have no direct connection to the market you will still benefit from whats called the wealth effect. Just as the election, 2 trillion in extra wealth has been created. People feel richer. They may buy that second home or a new fridge. The point is the wealth effect means more spending and therefore more growth and therefore maybe more good jobs. After the financial crisis wall street became a dirty word. Dont be confused by this political rhetoric. Instead celebrate. A stock market rally is lifting all boats because it shows america is doing well. Stuart 2 trillion added to the wealth 69 nation. 20,100. The trump rally marching on. Peter navarro joins us. He used toe a regular on the show but he went up in the world, hes now on the white house team. I like the view better here. A lot of people are worried. The other trade guy, there is an awful lot of people who are worried. Investors will get into a trade war of some kind, probably with china. What do you say about that. We are going to cut great trade deals around the world. And every trade deal will increase our growth, strengthen our Manufacturing Base. Globally the great imbalance of trade, us with the rest of the world, europe with places like china anne has created structuralism balances. If we are able to smooth them south with more mutually beneficial trade between the u. S. , the rest of the world. Well be able to grow at a much fast wee have a structural problem like here, Corporate Tax reform. Regulatory reform. Energy preform. The American Worker pan american manufacturers. Ask. Stuart you have got to bear in smienlds two recent developments. President trump threatens china with trade barriers. Sow there is a spat developing there. With mexico, there is some concern about whether the visit will take place. There is a pushback between the two there. Thats trade friction. There is a lot of people worried that it explodes. Its not just friction, its an explosion. Kellyanne conway is getting on the plane to go to philadelphia with the president. On the trade issue, look, after the election, the day after the election, the futures were spiking down, everybody was running around crazy things were saying things would go crazy. What do we have . We have the recognition on wall street a strusm administration would deal with trade energy that would spur growth. What we have seen since Trump Took Office is a number of executive orders. Every time ink comes out of his president ial pen, we create tens of thousands of new jobs. Weave did it with the tpp order which will defend our industry. Weve did it with keystone and the use of american steel. And all i see, stuart, is the marketsespondg positively, not just here, but in asia as well. The markets are not seeing what you are seeing. The only people talking about trade wars are the crazies that the New York Times who want to stir this you have. The crazies at the Washington Post who want to disrupt the trump train agenda. Stuart im sorry if i joined the crazies at the New York Times. Stuart i talked to the chair of the committee in congress. He said we wont get a bill signed by the president. And he couldnt answer me whether that will be backdated january 1. Calm everybody down, if you can. Strum time is fast time. Well do everything possible, the white house and on the hill to move things brisk live along. You know my feeling on the importance of Corporate Tax reform, getting that rate down, addressing some issues. If we dont get that done, we wont get the growth we need. So our intention is to must on the excel vapor and move quickly. If you look at this week, how much have we gotten done . This is probably the fastest any president has moved. Thats trump time. Stuart last night Reince Priebus told sean hannity, expect a real boom. 6 to 7 growth fairly soon. I suspect thats an exaggeration. Let me defend reince on that. Historically what you have get when you come out of a recession, you usually get 7 or 8 growth for one or two or three quarters, then you settle down to a steady state which will probably be 3 to 4 . If we can do what we can on taxes and regulation, trade and energy, well see the boom take us up historically as has always happened for 6 , 7 , 8 growth. Then you go into the steady state of 3. 5 . Our steady state is a little less than 2 . We have had that for the last 15 years. What happened in the last 15 years . China came into our market and began flooding the market with subsidized goods. The trump trade agenda is basically to rebuild our Manufacturing Base and our Defense Industrial base. Bring jobs to the american heartland and the rest of this great country. And for the last 15 years remember our wages have not appreciably gone up to any degree. You will get a friens priebus call this a Reince Priebus boom for the next 6, 7, 8 quarters. You peter kinnon is with us. You were rinsing to peter navarro. Hes tamping down the idea of a trade war and supporting the idea you could get 6 or 7 growth at least for a couple quarters. I agree they are not anywhere close to a trade war. You have people opining on this story who have never been in a negotiation in their lives. I read tpp. Its pages and pages of a document only a lawyer could love. You have to take some tough stance if you are going to get into a negotiation with the chinese. They are canny negotiators. Same thing with mexico. They are going to come around. See how canada is going to come around. They are meeting to figure out how can we anticipate whats going to come from nafta. Its past due to have a tough conversation with the chinese. China is going in knowing every single thing about us and we are going in winging it. Who is the person on point for china in the Obama Administration . It wasnt john kerry or secretary of state clinton. But one question i would have for peter navarro, who is the point person on china in the trump administration. Stuart President Trump and u. K. Prime minister theresa may will meet tomorrow. Maybe a bilateral trade deal will be on the table. Theresa may tells President Trump to get up, they can lead the world. Thats what she said. It sounds like a sound bite from Margaret Thatcher to Ronald Reagan. Provided the rich were less rich. That way you will never create the wealth for social services. Yes, you would rather have the poor, poorer provided the rich were less rich. Thats liberal politics. Stuart wonderful Margaret Thatcher. The current Prime Minister of Great Britain is theresa may. Shell meet with President Trump tomorrow. They may be laying the ground work for a bilateral trade deal. Karl rove, great to see you again. I remember very well. You dont because you are so much younger than i. I remember reaganthatcher and what a wonderful success that relationship was. I think there is somewhat similar possibility in the theresa maydonald trump rip. Wharip relationship. When it comes to the creation of a u. K. U. S. Trade deal, a lot would ride on that for both of them. Stuart you sound lukewarm. I am, but i dont have your english enthusiasm. I think this is a really important meeting in a really important relationship. And its in the interest of beth of them to get it right, right from the beginning. From the british perspective, they are exiting the e. U. Their biggest collective market is the European Union. If they had a good trade deal with the United States that has a level Playing Field and everybody looks at it as a winwin, it has similar leverage with the french and germans who may want to punish them a little bit for brexit. If trump gets a good deal with the u. K. And everybody walks away with a winwin. Its a model for the Asian Countries who are miffed with abouts tpp. Stuart we have marine one which will be transporting along with air force one to philadelphia where he will meet with gop leaders. Also meeting with the gop is britains Prime Minister theresa may. A foreign Leader Meeting with one Political Party in the United States. Whats going on here . I think there is a natural sympathy between british conservatives and american republicans. Not all british conservatives are fans of the republicans. A lot of them tended to be moderate democrats and they liked the john kerries and bill clintons of the world more than republicans. But its a smart move on her part. Republicans control the leverage of power. She wants to get the trade deal right and have a Good Relationship with donald trump. There are foreign leaders who attended i believe the republican congressional retreat in the past and may not have necessarily met with the democratic leader and foreign leaders that attended the democratic retreat and didnt meet with republicans. We understand the democrats in america not happy they have been as they say snubbed by this. What do you think is the main topic of conversation where President Trump meets the gop leadership. Is it tax cuts . The Supreme Court . What is topic one . I think all of those will be part of the topic. But underlying it will be the natural friction by a president who wants to move things along at a speed. Trump time and congressional time. Things are a lot more complicated on the hill than most president s the want to have. There will be a little bit of friction and its natural. It happens all the time. I want you to get my initiative moving quicker. These kinds of things are always a conversations between the white house and the congressional leadership of the president s party. I have got to respond to the thing you said at the beginning. I couldnt remember the ray beganthatcher relationship. Let me ask you this. Did you ever up produce Margaret Thatcher . I did. I was thrilled to be there. And two minutes before the lunch began, ed turned to me and said incidentally you need to introduce marching rat introduce Margaret Thatcher. If there was a moment when i started to shake, it was that. She was a great leader for our world. Stuart 30 years ago i did an interview with Prime Minister Margaret Thatcher. I walked her down a receiving line to the point where we would do the interview. The last person on the receiving line was the president of the net woirk was working for. And Margaret Thatcher said in his presence, oh, mr. Varney, we watch you all the time. Thats called job security. Stuart you have been on both marine one which our viewers are seeing and air force one. I am told a lot of people prefer to travel on marine one than the big jet. Marine one is a great way to get to the airport. The hot towel the stewards give you when you have get on the plane is great. I became a big fan of it. The people on the crews of marine one and air force one are the top of the line. They are terrific people from the steward to the pilot from the navigator to the cook. They are terrific individuals and its a great honor to fly with them. Stu center when President Trump first walked into the office the first thing he did was to get fitted for a flying jacket. Do you know if President Trump has his flying jacket yet . I wonder what hes going to look like when he emerges from marine one. I dont remember how long it took president bush to get his flying jacket. But whenever he would board the plane he certainly liked wearing it. It was a great testimony from the crew which presents it to the president. I didnt get one, but i kept every single one of my seat cards. I sat in an area called the senior staff cabin. Desks, radio phones, and i have a card on each one of them. He is not wearing his traditional plain red or plain blue tie and hes definitely not wearing a flying jacket. Hes walking across. He will get on Board Air Force one. You dont have to stand in line on air force one. You take off when you want to take off. And he will make a short flight to philadelphia where he will meet with the gop leadership. The red carpet you have the steps of air force one, and there we go. Im a newly minted american and i love this stuff. I love to see our president. He would turn around and wave. But he doesnt. Now, thats different. Thats different. The door has closed. It reminds me of the time when obama was traveling with clinton. Stuart thanks, karl, your information on marine one and Margaret Thatcher was great stuff, but mine was better. Well watch the steps go up there, the plane will be departing momentarily. I want to bring you news on chris letter bringing work back to america. It looks like its another win for President Trump and the pressure hes aflieght car makers. Liz chris here is going to invest 2 billion on two factories. They are moving heavy duty production from mexico to the United States. When you look at how much money the car makers make on the big vehicles, that is a lot of money. Its about six times what they make on the smaller passenger cars. It means 2,000 new jobs in the United States, and those jobs are probably safe because this is where the trends are. People want the bigger trucks and suvs. We dont know whether this november by fee a we dont kne by fiatchrysler they have committed money. Liz they estimated 2,000 jobs. Stuart im sure the president will take credit and say its a win for President Trump. Hes promising to build the wall and spend on infrastructure. Companies in the construction and engineering businesses reeve hated to infrastructure are up big since the election. We are talking 40 , 50 up since the election. Border wall infrastructure stocks. Eagle materials. U. S. Concrete, all of them up very, very sharply. I didnt see this coming. But if you are going to spend a trillion on infrastructure, you can understand the stock price move. When you have think of a trillion dollars, people think of it over 20 years. When you have remove regulations, the market loves that. They have more visibility. They have say ill invest in these come any proactively. Stu there are Norman Anderson said we have all these projects lined up. They are ready to gene they are largely finded by private enterprise. Thats the money that will get into the economy very quickly. There are tens of billions of dpol dollars ready what waiting in the publicprivate sector. I think the commercial guys will go with faster, cheaper, on time. Will Companies Put their name on a project because they helped finance it. I think its a greatway to engage the American Business community. Liz the democrats are meeting in West Virginia on how to speak with regular voters, meaning the trump voters. How to talk to them. Have the democrats lost their minds . They have been count rabbit hole for the last four years. They called the trump voter deplorable. They called the blue collar working class voter irredeemable. They used to be the doer of their base. They are so alienating elitist finger waging that they have last their way. Stuart they are trying to figure out how to do it. They used to talk to the working class voter. What happened. You have to give them a map and show them there is a middle of the country. Its not just l. A. And liz it wasnt like this with bill clinton and al gore. Stuart this is his first trip on Board Air Force one as president of the United States. Is it a downgrade from this personal jet . Liz we need a strong democrat opposition party. Y where is it . Im upset. You need to sit down and have a meeting about how to talk to regular working class voters because you dont know how to talk to them anymore . Stu were thats extraordinary coming from democrats. Ashley it has been turned upside down. Rich people are democrats. Union guys vote for trump. Liz where have the elitist democrats in the boldway been the last 8 years. Everybody was talking about the blue wall. Hillary is going to win because of the blue wall. Trump can build a red wall in the rust belt states. China wants globalization and the United States and Great Britain are saying lets protect ourselves. Liz you cant get excited about any democrat leader right now. Who is going to electrify the democrat base . What leader is out there except the old guard . Ashley brian tried. He got slapped down. He would have been a great, fresh leader. Stuart he lost in a landslide to nancy pelosi. Liz they are putting a lid on the new guard from coming up. You do we go to commercial break . No, we dont. We want to see it take off. We are staying with air force one until such time as it takes off. This is history on varney and company just like yesterday when we hit 20,000 on the dow industrial average. Its about to take off. This is the first time President Trump has flown on air force one. Thats why you are watching. Actually, well always watch the president because he is news and hes brandnew in the job. Hes not been on the job even a week. Liz what terrifies people is hes not a republican or democrat. His ideology is make american great again jobs. His Gold Standard is the 4 growth and hes shooting for it. Stuart there is another reason we put President Trump on our air. This is americana. That is air force one. Thats our new president taking off on air force one, first time ever. That is the trump rally, ladies and yes, which added 2 trillion to our National Wealth since the election. Im an american loving all this. Carol roth is joining us. Im looking at the stock market at 20,100. You are a financial person. Do you have think we go up some more from here . What do you say . I think we want to look at a different metric. I know do you 20k is more sexy than s p. 3k. But the s p is the broader benchmark of the market. With financial earnings doing well and the other corporations reporting and their revenues are improving. We are seeing a lot of optimism coming out of the probusiness stance of President Trump. So thats making businesses interested in reinvesting the capital they have had on the sidelines. If they continue to do that, thats a catalyst to push the market higher and higher. Stuart i said thats a trump rally. We may be entering a different phase of the rally which is a profitdriven rally. The numbers i have been seeing are very strong. Is profitability also driving this market . Its trump and profit hand in hand. If you look at the actual numbers, the Financial Services companies are adding a lot to the earnings and revenue growth. In order for this to keep marching, well see that on more of a broad base across industries. If you look at the policies of President Trump and the things are expected in the market, thats going to be the catalyst for not just the Financial Service come any and Tech Companies to continue to increase their profits. If we see that and we get the 3 growth in our gdp or higher, then we should continue to march higher. Stuart for all of our viewers who may or may not be in the market. Do they commit fresh money to stocks . Your answer is yes, put your money in, is that correct . I think you have to look at your own portfolio and justify your risk. And it depend on who you are as an investor. I cant recommend a blanket that everyone should invest. Stuart where is your heart. I do think that overall well have a catalyst to go up more. But im a conservative main street type of investor. So i like to put a little bit in at a time and have a diversified strategy. You wont get a blanket buy, buy, buy from somebody like me. Stuart thats what i wanted. We appreciate you being with us. Our next guest has written that President Trump is doing things at a frenetic almost crazed pace. Here is his headline. The trump kaleidoscope, its time for doubtful and hopeful trumpers to stop obsessing over trump himself. Im not sure what thats all about. But the man who wrote it is famous, more famous than i. People stop you in the street, right . Left and right. Stuart what i think it means is President Trump comes out hes clouding the message because hes keeping up with this frenetic pace. Hes not controlling himself or what he says. I think that has people anxious. Is that what you are writing about . Thats what im writing about. Everywhere one goes, the question is about trump, is this going to work, is trump going to be successful. I had my doubts. Its all about trump trump trump all the time. What im trying to say in this column, we are almost a week into the trump presidency. While its difficult to separate donald trump from his presidency, the fact is we cannot keep obsessing over trump and his tweets, we have to focus on the policy initiatives he put in motion such as immigration or trade. Stuart his tweets feed the media and his narrative. The media cannot stop obsessing over trumps tweets. Ke sended feds into chigo. Or i want a commiion to investigate vote per fraud. Whether this presidency will be successful, this government will be successful, i think we can ignore those things. But we have to Start Talking about the details and policy initiatives he put in motion. And where necessary, support them, refine them and resist them. This will be a normal government in that sense. Look at what we have seen so far. Concrete moves so far. Do you have approve of whats going on . I cant approve of everything. I city spending 15 billion to 25 billion on a wall across the u. S. Mexican border is probably not money well spent. But i will say this, stuart. Trumps tweet this morning about canceling the meeting with mexico if they wont pay for it which may kill that meeting will be my example of trump tweeting getting into the area of brinksmanship in policy. Something that has a material effect on an initiative. Stuart if the president. Mexico says i might not come to the meeting, President Trump will counter punch. I understand that. But hes the one who wrote the art of the deal. There was supposed to be a negotiation. Hes putting the president of members koa into a position where there is no negotiating room. There will be no negotiation. I hope trumps intention is to get people to come in and talk privately about his goals. Stuart thanks for joining us. Im staying on President Trump. Hes the center of attention. Our next guest says the president s action on obamacare is revolutionary. Here is the headline from judge andrew napolitano. Trump has committed the most revolutionary act i have seen in 45 years. Napolitano is with us. Hes in d. C. Preparing for his appearance on special report. The most revolutionary things you have seen in 45 years on obamacare . Yes. Ill tell you why, stuart. Im talking about the First Executive order he signed as president which he signed 4 00, 4 30 in the afternoon january 20. It said to if the people in the federal government who administer temperature obamacare. I want you to dime it back. If you are about to after he says a fine, a fee, a setoff or tax, dont assess it. Because bif the time it becomes due on april 15, there will be no obamacare, there will be no individual mandate, and the irs will not have the authority to collect that money, sow why should we take money today thats only going to be returned. The second thing he said which is the most revolutionary part. When you have discretion about how to enforce the law, time, place, manner, severity. I want you to exercise this discretion, this is what you never hear from the government. In favor of the individual and against the government. That is the line that is far more tom tals jefferson with prr knowingly associated than Theodore Roosevelt with whom the president wishes to be associated. Thats the line. If the ideology behind him warms my heart. Stuart President Trump says he wants to end the hillary probes into her email and the foundation. Thats what the president says. You make of it what . When you have asked me to cover this story i went back and read the transcript of what he said. He gave himself wiggle room. Hes going to rely on the recommend days he gets from soontobe attorney general Jeff Sessions who will get advice and a file the public has not seen from staying in office for the meantime. The f. B. I. Director jim comey. Jeff sessions was about as fierce an advocate for her indictment as i was during the campaign. He wants to turn a page and probably wishes President Trump had pardoned her. Or he doesnt want his to look like political vindictiveness. But the evidence of guilt on emails is overwhelming. There are hundreds of thousands of pages on them. The evidence of engage in political corruption and making decisions as secretary of state to benefit if the foundation rather than the National Security of the use the is at least of the United States is at best circumstantial. Stuart fit proceeds, maybe the if it proceeds, maybe President Trump will have to pardon Hillary Clinton. He should at least receive a presentation of the pros and cons based on the evidence. Stuart we have a rally off and running. Give me best to bret baier. President trump said he wants to cut funding to the United Nations next. Special guest, the former chief of staff to Prime Minister Benjamin Netanyahu. Hes next. He will respond to this u. N. Cut. Hey nicole. Hey i just wanted to thank your support team for walking me through my First Options trade. We only do it for everyone gary. Well, i feel pretty smart. Well, were all about educating people on options strategies. Well, dont worry, i wont let this accomplishment go to my head. Im still the same old gary. Wait, you forgot your french dictionary. Oh, mucho gracias. Get help on options trading with thinkorswim, only at td ameritrade. Reporter dow hold 20,000. We are at 20,116 with a gain of 47 point. The s p500 and the nasdaq also up. Also charter saying that verizon. Healthcare stocks are under pressure. We saw bristo we saw bristols down 2 . Stuart breaking news on the executive order that President Trump will sign. Its authorizing the Justice Department to investigate voter fraud. Jeff sessions has not been confirmed yet. So thats an issue that could hang up Jeff Sessions nomination. If the pew research thats been out there about voter fraud. One of the authors of that report says there is no evidence of wide scale voter fraud on the level donald trump suggests, 3 million fraudulent votes cast. They will investigate by executive order. Stuart President Trump to sign an executive order to cut funding to the United Nations. George, this cut in funding to the United Nations as i understand it, there is also a cut in funding for some Palestinian School kts which teach young jihadists. Have i got that right . Yes, stu, you do. If you are standing on the temple mount in jerusalem looking south there is a hill. Back at the time of the roman empire and jesus it was the hill of evil counsel. I think its quit appropriate. The United Nations has been a source of a problem for actually getting the palestinians and israelis to make peace. Under the Obama Administration and previous administrations and the international community, we allowed the palestinians to use the u. N. And yo to pressure isro a potentially terrible deal. They understand that only way to get things done is bilateral oneonone palestinians and israelis. Im hoping cutting off underring to the u. N. And not allow the funding of Palestinian Schools that incite and teach hatred towards the jews. It will send a signal there is a new sheriff in town. If you really want peace the on way to do so is to sit down across from the israelis in a bilateral way. Stuart i dont think Benjamin Netanyahu wants that to happen because it would set off nasty riots. I dont think so. I have known the Prime Minister said israel is the only country in the world who does not have the right to have its capital recognized by the international community. If they were to most embassy to jerusalem it would send a message to the palestinians and the world that israel does have the right to declare its capital eternally as jerusalem. And. Did you think it will happen . Where will americas embassy in israel be . President trump is a man of action. If he wants the embassy to be moved, it will be moved. The geographic location, the planning, all that has been in place. Its not a big surprise where they would put the embassy. So its really a matter of will. The first few days of the presidency are any indication of President Trumps turning will into action. Thank you very much for joining us. Stuart we have been following the market. I can show you a couple of stocks that are moving. Whirlpool, the ceo of that company says the british move to walk away from the European Union, that was a real problem for whirlpool and the stock is down 7 . Jetblue plans to recruit more pilots this year. Their stock is down but necessity want 200300 more pilots. We have bad lip reading, this one from the inauguration. Are you cheery . You cant predict the market. But through good times and bad. At t. Rowe price. Weve helped our investors stay confident for over 75 years. Call us or your advisor. T. Rowe price. Invest with confidence. And her new mobile wedding business. Tte at first, getting paid was tough. Until she got quickbooks. Now she sends invoices, sees when theyve been viewed and tada, paid twice as fast see how at quickbooksdotcom. . Stuart we have this news coming to us. The president of mexico will not be meeting with President Trump next week. He called it off. I think hes responding to intense domestic pressure. Contrast how well orchestrated the theresa may meeting will be tomorrow. He has trouble here, trouble at home and trouble at the wall its a bad way to start. Stuart after a contentious election we thought would give you a comedic break. Here is a clip from bad lip reading poking fun at moments from the inauguration. Will you cheery . Im always like this. I do into your face. Are you wearing a big boy shirt . Yeah, probably never will again. Every wash that wig . Together well build a bar in rural connecticut and make it a bar with a nanny. I was disappointed they didnt find the continent of atlantis yet. I was disappointed they didnt find the couldnt meant of atlantis yet. I win. Stuart thats poking fun its a little risque putting words into very famous peoples mouths. But its funny. We have a threehour show. Isnt there room for entertainment . When they do the varney capsule i want to put that in there. Stuart we did well yesterday at 9 30 when the dow hit hit 20,000. Stuart do you remember the youngster that started fire in the streets of washington d. C. , here is the roll tape. This young man, youre participating in fire. What is your name. Carter and kind ever started this fire. What why did you start the fire, carter. Sorry, why did you start that fire . Because i felt like it. Because im saying [bleep] our president. Stuart we all watched that. Where are the parents . Hold on. Ashley we know who the parent is. That is the son of drew carey, the comic. Connor, 11yearold connor carrie. Mom and dad saw the clip. Very upset. Were in the hot water. Were not told what punishme he got. Stuart the parent did not approve . Apparently not. Stuart he didnt use a profanity. Used another word for a profanity. Now we know. The rest of the story. His middle name is payback. [laughter] stuart whose line is it anyway. I like that. Our time is up. We hope we entertained you at least, little bit last part of the show. Neil cavuto. It is yours. Neil thank you very, very much donald trump just landed in philadelphia. Probably got word that the mexicans gone ahead and canceled that january 31st meeting. The mexican president pena nieto said it was a waste of time. It would probably be better to cancel the upcoming meeting. The meeting is off. The peso feeling the pinch. It started falling as soon as we got the news. The mexican stock market was not doing much prior to this down about a percent. Whether this comes up and the degree it could be a source of conten