Transcripts For FBC Varney Company 20170713

In a half hour, all three major indicators will go up some more. Profits are up, janet yellen outlines a slow Interest Rate rise and who knows, we may yet get a tax cut. All for stocks. Investors are again, completely ignoring democrat hysteria. Congressman brad sherman files articles of impeachment. And hamilton threatens the president and calls him a racist. And 50 of air time to one story, donald trump, jr. s meeting with a russian. Be not downcast, well see the president with the europeans. Varney company is about to begin. They have to get past, they have to do it. They have to get together and get it done. What will happen if they dont . I dont want to talk about it, because i think it would be very bad. I would be very angry about it and a lot of people will be very upset. Stuart id call that a warning. Get a Health Reform plan done, do it or im going to be angry. Fulltime details later on this program. Weve got a pretty good idea whats coming down the pipe. Some obamacare taxes on the wealthy will stay. More money to help keep premiums under control and a provision that lets people under 30 buy the high deductible plans, known as catastrophic coverage and more to fight opioid addiction. And amazon, 1,004 per share, had a big win with the prime day sales, best sales ever, actually, and they signed up more prime members in one day than ever before. Now we hear, amazon is coming out with a new echo speaker later this year. Poor emack bought the old one at discount yesterday. Liz ive been duped ive been had i want congressional hearings, jeff bezos must be called in. Just kidding yes, i have been duped along with millions of others. Its going to be to have besides one model has a touch screen display, better sound and microphone, yeah, ive been had. Stuart how long are we going to stay on that one picture there, that column there. Theyve got a new one coming in the sound. Liz better sound than you singing the beatles before the show. I bet youre going to buy the new one, its a great play. People got to buy the old one for the next five months, and get the new one in time for the holidays. Thats, by the way, scott, a market contributor and hes with us. Would you buy amazon at 1004 . I love it here, stuart. I love the record sales, and the product innovations. Liz and people like me. Duping going on, yes, thats part of the system that theyre proposing. So to me, amazon is a still a good value here. Stuart i think the echo play is perhaps the most important play of all. Youre locked into the new system, the home help computer. Ashley its amazonland. Liz they dont share their information with third party marketers. Its clear, they may. Stuart thats not going to stop the echos explosion, i dont think. If you have the data and able to sell it for profit or whatever organization, or whatever they set up with the third party people, thats a great thing because this speaker is always the privacy. Stuart hold on, you would buy amazon now at 1004. Would you buy facebook very close to 160 . Its unbelievable, just a couple of weeks ago, it dropped into the 140s and everybody thought here comes the tech and im sorry, were back north of 155. Facebook in two weeks, they have a lot of pressure, two wednesdays from yesterday. Facebook has to nail earnings coming up in a couple of weeks. If they dont, you could see the stock fall back, but i would be buying up more. Stuart you would be buying today. Absolutely. Stuart buying amazon and facebook. We own it. Stuart if you get a tax cut, how high the dow go . Youll see at least 25,000. Here is the thing about the dow. Stuart 25,000. Im telling here is the thing, youre talking about tax cuts, and how about repatriation of all overseas. Liz and m and a deals. And the dow, 25k. Stuart and do you detect a level of excitement. Granted its pay day at fox, but excited here. To politics fast. President trump says hell be angry if Health Reform doesnt get done. And Mitch Mcconnell is putting a lot of pressure on Senate Republicans at least allow the legislation to move forward. Lets bring in Fox News Contributor byron york with the examiner. Weve got details of the health plan earlier this morning coming out about 11 00 i think it is, and already theres a lot of conservative opposition to it. It looks like its not going to go very far. What say you . Well, i think weve heard rand paul, for example, one of the conservative opponents say, well, basically what it does, it reinstates a couple of the taxes that we wanted to repeal, and then it doesnt change a whole lot else. I think the big question is going to be how many conservatives this ted cruz amendment manages to attract. Obviously, ted cruz himself and mike lee, but does it get many others and are there any of these moderates who could be convinced unless the plan makes some change to the idea of essentially moving medicaid to the states. Stuart look. All this weedy stuff, lets get rid of that for a second. When push comes to shove at the last minute, maybe the end of august, can you really see the Republican Party saying no, nothing. Were not going to do anything . Were going to beat this back, really . Thats a great question and look what happened in the house. They thought they had a deal, then they had to pull it back. And then they had to get some other plans and other amendments and finally, there was one last amendment from fred upton that allowed a few last people to get on board and they passed it. Were not there yet in the senate, but i think we could be travelling the same road, and so, Mitch Mcconnell right now is struggling to get it onto the floor. They could fail. They could fail again and finally come around with something. But this is something thats so big, and so important to the Republican Partys reputation in the sense that we all know theyve been promising this for seven years, that they have to find a way to do it. This, right now, might not be the way to do it, but look what happens in a couple of weeks, three weeks, a little longer. Stuart well be watching for sure. The broadcast news shows gave 54 of their air time last night to coverage of donald trump, jr. Russia, russia, russia. Its endless. I think this is going over the heads of most people. I think people are really fed up with it. What say you . Well, certainly a lot of the news organizations are deeply in the weeds. This is kind of the scandal that ate Cable Television in some ways. But i agree with the voters concern. I think theyre, as always, more concern about what the president might be doing to improve their quality of life, which is why, by the way, the president himself should spend more time talking about his agenda, talking about tax cuts, talking about repealing obamacare, talking about border security, talking about all the things that got him elected. Stuart okay. Weve got it. Byron york, thanks so much for joining us this thursday morning, we appreciate it. Thank you, stuart. Stuart yes, sir. Now this, Los Angeles Area congressman brad sherman has introduced articles of impeachment against President Trump and texas congressman al green, the only cosponsor of that measure. More, please. Ashley mr. Sherman says at that Donald Trumps abrupt firing of james comey as fbi director amounts to obstruction and high crimes. And he filed articles of itch peachment. And the only one who says its a good idea is al green from texas. Its not going to pass in the house at Sarah Huckabee saunders says. They call it treason . Connell if they lose the house, watch out. Stuart i know. Ashley isnt this ridiculous . Goes on and on, never stops. It doesnt ever stop. Stuart President Trump leaves the swamp to paris taking his defense of the west to france. A few minutes from now, President Trump will meet with president Emmanuel Macron, well take you there. Youre going to paris, ladies and gentlemen, youll see it all happen. Yesterday op capitol hill, praising janet yellen for the rally. What about the trump rally . Have they ever heard of that . The congressman is next. The stock market and the peoples 401 k s are improving and they want to give you a lot of high fives and back slapping. You get all the credit. What changes have you made since november 8th . Really since november 8th. The real change has been the president in the white house, ill make that point to my friends across the aisle. Im so in love with you. Whatever you want to do. Is alright with me. Ooo baby lets. Lets stay together. Well, were holding onto a minuscule rally in the features, that indicates were going to open this market pretty much flat, flat to slightly higher for all three indicators. Now this, we, we americans, were willing to go into debt for things like vacations to disneyland, compared to buying things like big screen tvs. So, emack, we want to pay for experiences, not things. Liz yeah, and its interesting, so people want to live in the now. They want to consume now. Theyre willing to go in debt for financing charges for experience versus sofas and refrigerators, they have an asset. So wait a minute, whats the retained value of a used fridge . Nothing for years, but you dont use it. They would retain value, just kidding. They would rather going to a ball game or the a park rather than retain an asset. As Health Care Costs go up, theyre willing to use their credit cards for experiences. Stuart its not good jo doesnt sound good. Stuart its a sign of the times and what people are doing, its not good as opposed to earning, savings and buying, like cars. Your a blowing it on a and the government now, youre doing exactly what theyre doing. Liz i tell you something. Never pay the piper. Liz banks are Getting Better using robots and algorithms going after people who are way in debt. Theyve got to watch out for that. Stuart and democrats praise janet yellen when it comes to the stock market rally. She did it, they say. Roll tape. Let me just first take a point of privilege to thank you for all of your work and tell you what an honor it is for me to have been in congress at the time that i could sit here and ask questions of you. I would love for you to stay on in your position, as chair lady of the fed. Thank you, chair yellen for your incomparable leadership at the federal reserve. Things are doing pretty well. In colorado, thank you. We were in real dumps, i thank you for your service, youre doing a heck of a job. Stuart now, get to the point here, the democrats say that janet yellen created the Big Stock Market rally, that gentleman on the righthand side of the screen is a congressman from wisconsin duffy who says, no, its not the yellen stock market rally its the trump rally. Make your case, congressman. They were trying to give janet yellen a big fat wet kiss for the roaring economy, the stock market up, unemployment rates are down and i had asked chair yellen, what changes have you made since november 8th that has created this new Economic Growth and raging stock market. To which she said we havent really done anything different. Which was my point. The only change thats happened that has caused this economy to grow is the president ial election which put donald trump in the white house, a guy who understands business and a guy who is looking out for the average american worker, she couldnt argue with that and i think that democrats were taken aback that i wasnt going to let them give credit to janet yellen. Were giving credit where credit is due, thats to donald trump. Stuart were hearing gary cohn, number one guy Economic Policy in the white house, may be the next fed chair. What would you say about that . Ive had an opportunity to meet him several times, hes smart, i think he understands markets. I think its going to get more complicated as we get closer to that february date where janet is leaving and i think, i dont know who theyre going to consider, but gary cohn would be a great choice. Stuart before you go, wed like to bring attention something your wife said about the august recess. Can i quickly said what Louie Gohmert said about the august recess. And when he said august recess, my heart sank, i dont see my husband and my kids very often. Stuart congressman, your wife is on this program today in the 10 00 hour. Final words from you. Shes cute, isnt she . Number one, and on that point, seriously, we have 200 bills sitting over in the senate, stuart, that havent been acted on. We cant sit in the house and hope that the senate acts on Health Care Reform. Were going to go back and work with our constituents. If the Senate Passes a Health Care Bill, well come back and deal with it. Why would we sit and wait for them to take up the legislation weve sent that way that stacks up like cord wood. There theres no reason to stay, but if theres an opportunity for health care, well to that work. Stuart and thats your answer to your wife. Ill put your answer to your wife. And i want to see her, too. Stuart congressman, thank you for joining us. Peyton manning, he hosts espns awards show and cracks a joke about nba star kevin durant. Durant does not think its funny. Well play you the sound bite and weve got someone here who understands basketball to explain it all, believe me. The rally rolls on closing at another dow high and we could be on pace for more records today. Smile, everyone, more varney next. Think again. This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov potsc in unison drive russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing so we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Inform about what, five, six minutes time well be opening flat for the dow industrials and looks like we may be headed to more record territory, watch out. To the espys, Peyton Manning having a laugh at Kevin Durants expense. Roll tape. And it was so dominant that kevin durant told me he wants to play for them next year. And i got to tell you, i dont think youd start for that team, kevin. Stuart he didnt look happy. If that was a joke he didnt expect, he didnt like it. Explain what that was all about. It looks to me like a pretty good sell job. Peyton manning has a pretty good way of throwing the jokes out and youve seen him on snl and listen, durant is happy now because he got his championship with the golden state warriors, something he could not achieve with the Oklahoma City thunder. That looks like a joke manning said im going to throw a dig at you and look stoic and upset. Thats what the ratings are about. And durants mother is laughing her head off at that. And she might have blown it. This is awkward as Norm Mcdonald hosting, if you havent seen it, look it up. This is playful and i think that durant was selling this one. Ashley like what the heck. This is kevin durant here. Stuart i dont know what youre talking about, i do want to talk about Roger Federer 36 on august 8th this year and hes in the final four at wimbledon. Djokovic is out, murray is out, nadel lost. Only federer is in could win at almost 36. Thats a sports story, come on. Meanwhile, on the market, were going to take you there momentarily. The dow industrials are going to open a couple of points higher. Dead flat to slightly higher. Remember, please, we hit a record, the 23rd record of the year yesterday, despite all thats going on in the swamp and were going up again this morning. You cant beat it, folks. Back in a moment. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Okay. Yesterday the dow industrials closed at 21,532. 14. That was the 23rd record high of this calendar year 2017. Thats the backdrop to todays opening which is coming up in 10 seconds. We also have the new Republican Health care bill. We have President Trump in france. I think its a missionary preaching western values. Bang 9 30. Its 9 30 this morning and we have the opening of the market, shows a gain of 5 points, 21,535 as we speak. Plenty of red, plenty of green, plenty of unchanged on the lefthand side of the screen. Were not down, were ever so slightly up. Joining us today, ashley webster, elizabeth mcdonald. John layfield, scott martin. Amazon 1003 as we speak, down ever so slightly. John layfield, are you buying, like everybody else is buying it here . Im starting to look at buying it, yes, ive been reticent to buy, i thought the stock might be overvalued. But ive missed the Technology Party and im thinking of getting in here. The amazon echo is a great way to get into the system. Once i buy the system you tend to only stay in the system. Stuart a turnaround from layfield he might buy amazon at 1000 a share. And facebook, its at 158 now. John, would you buy facebook, 158 . I think so. Youve got earnings in a couple of weeks. The biggest thing right now they want from a billion users to two billion users in five years and india has more facebook users than any country in the world and only 19 is using facebook compared to 73 of the United States. Theyve figured out a way to monetize the 73 in the United States. Once they figure out how to monetize 19 in india which has a huge growth pattern ahead of them thats when they start making money, i think its a great company. Stuart facebook is a buy for you scott martin at 158, 159. It is and we already own it, so could i borrow some money from you, a couple of pounds. And facebook earnings are coming out. But if you look at ad revenue, the sky is the limit for the stock. Stuart if they dont come up with a 30 gain in profits or whatever it is. The metrics dont work. That stock will listen, if it does and youve been waiting an opportunity, buy half now and take that opportunity on a pullback to add more. Stuart here they are, the five big techs did very well yesterday. Theyve opened this morning, i think most of them are going to be down, certainly, facebook is down a little, 13 cents. Amazon is down a little, but look at this, microsoft is up some more, alphabet, google up 3. 3 1 2. And even apple is sharing in the gain fractionally, 8 cents higher. Whats your favorite . You dont pick stocks, ash and liz, you dont pick stocks. Liz no. Stuart do you want to . [laughter] and before you lend the money before you lend it to scott . In my opinion, if you were to buy any of the top five tech stocks, mine would be facebook, i think the most potential growth. Im not saying get out there and buy it. I think facebook. Liz i agree with you. Ashley to johns point, 19 only in india, with the potential and the rest of the world. Stuart facebook is my favorite. What is yours, scott . Amazon is mine, the prime sales date, the echo dot which ripped off emack and getting people buying more in the Holiday Season and thats why i like amazon. Stuart i like the winners, microsoft, visa, intel, walmart. Those are the dow winners and show me the dow, please, now were up 18 points, 21,550. How about that . Pretty good. Stuart not bad at all. All right, now, what would happen to these averages, especially the dow industrials, if we got any kind of tax cut this year . What happens, John Layfield . What happens to the dow if we get any kind of tax cut . I think it goes significantly higher. I think it stays flat if we dont. I dont knowing i dont think it falls off a cliff if we dont, but i think the market takes off here. I dont think the market is expecting it right now. Stuart a few moments ago, scott martin said in answer to that question the dow would go to 25,000, are you going to repeat that . The dow will go to 25,000, within the next couple of years, youre going to have to see the tax cut come through and real benefits to gdp and job growth. It will have to come through. Trillions overseas in the tech land. Those come back to the u. S. , reinvesting in stocks and dividends, job growth, my goodness. My goodness. To johns point, the market is not expecting it for a while i think the trump rally was in play and what we saw happening in washington, standing on its own feet. So if those agenda items get through, the taxes and regulations, its off to the moon. Stuart im all over the place on this. I simply cannot believe at the end of the day, the Republican Party will fail to lower taxes. I cant believe it. Liz yeah, that means that the house goes to the democrats, and the president gets impeached and the g. O. P. Could be kicked out so theyve got to act. This is a reality check, i dont want to be the skunk at the picnic, but when you look the a the s p 500 earnings for this quarter coming at half of what they were, the growth rate half of the first quarter. When you strip out Energy Sector in a boom, more than quadrupled. Its going to be down about 4 for this quarter. Stuart lefthand side of your screen, the dignitaries are arriving for a meeting with frances president Emmanuel Macron. Theyre all lining up. This is our president s visit to paris, bastille day, i think, is tomorrow. Hes been invited because of bastille day and i see an American Flag on the left and righthand side of the car. Does that mean the president of the United States . Hes about to exit the motorcade right there. And thats the beast, the armor plated volk that he president uses wherever he goes. And hell meet with Emmanuel Macron. He has a visit to some of the sightseeing thats the palace, by the way. Hes going to napoleons tomb. Ashley to a Church Within that complex. Stuart notre dame. Ashley yes, yes, this military complex of museums and monuments and theres even a home for veterans in that same complex. Stuart i dont want to draw too close a parallel. Remember back in january of 2015 when america sent james taylor to paris. Ashley yes, youve got a friend. Stuart youve got a friend. [laughter] i dont mean to be fa feeshs. Ashley yes, you do. Stuart there we have it, facetious, the handshake, and Emmanuel Macron, the first lady of france right there. And momentarily, there is is the first lady shaking hands with the president of france and another handshake in a moment. There you have it. Thats the official arrival at the palace of President Trump and melania and theyll proceed from there, all kind of meeting set up for today and some sightseeing if you want to call it there. And then there will be a ceremony tomorrow, bastille day. Shortly theyll go inside for the first meeting. The first quick run through the issues. Im not sure what theyll be. Liz syria. Stuart syria, trade, terror. Ashley climate. Stuart climate will be a big one. Right up there. There is, shall we say, some disagreement between the president and most of europe, that is. Meanwhile, the dow industrials are up 17 points. Were approaching another record for the dow. We are at a record high yesterday. The 23rd of the year. Back in america, in the swamp, theres talk of impeachment. More hearings. There is a new Health Care Bill on the table. Which is about to go on the table from Mitch Mcconnell leader of the republicans in the nate, but the president has essentially left behind the swamp. Hes in europe. Im calling him a missionary. Hes there to preach the virtues of western values. If he wont do it, who will . The europeans certainly would. I call the man a missionary, were up to 21,553. What else have we got going on here. Ashley thats actually where trump arrived, its not the palace because theyre going separate to this site. Stuart im sorry, i did make a mistake. Thats not the palace this is more of a complex. Stuart since you know france better than i do. I havent been there since 1968. Ashley when you were rioting there. A lefty. Youre leaving it out there, stu. Stuart thats the hotel where President Trump was greeting Emmanuel Macron. Ive got this to talk about. An Economic Indicator for america, maybe. 44 Million People in the United States are picking up side jobs as a way to make extra money according to a survey from bankrate. Is that an indicator of some sign of distress or is it an indicate that americans like to get up and work and climb that food chain with more money . Which is it . I think its a sign of distress. If were at full employment right now, and were under 3 gdp growth which has been under ten years. The only answer to that is that the jobs that were created compared to the jobs that were lost were not as good of jobs. I think this is an indicator. Stuart thats a fair point, parttime jobs, a lot were created in the last eight years, they dont pay the bills. You need side jobs to pay the bills. Liz and the evolution of the smartphone, air bnb and ride sharing, people are able to do with technology and figure it out. I agree with john, we went from the parttime minimum wage career jobs to whats going on now. Stuart leads and gentlemen, listen in please. The star spangled banner. Ladies and gentlemen, i wish shed left our mics open during the playing of Americas National anthem. Because ash and i, with british accents, were singing along almost with tears in our eyes. Ashley its stirring. Stuart its stirring, a wonderful thing. Lizzie. Liz what. Stuart whats with the sour face there. Liz i wasnt singing because i sing like a hinge. Stuart i love this stuff. Liz i love it, i dont want it ruin the moment with me singing. I wanted to hear you two. Stuart sound like a hinge. What are they playing now . Shall we listen . Go ahead. Well, we did not leave the microphones open for the playing of this. I dont know the words. [singing in french]. Stuart how do you know . Thats the only part i know. I took french in college. Stuart John Layfield, do you know the words . I dont. Ive watched casablanca several times and still dont know the word. What a Great National anthem. You know, vincent when he became a french citizen, tears streaming down his eyes when he first got to sing that national anthem, great pride the national anthem. Been to iraq and afghanistan, and brings tears to the eyes when you hear that, its patriotic. Stuart and we promised viewers some smiles and we have smiles. Its a joyous event. Its great to see our president and Americas National anthem playing in sterling terms there in the middle of paris. I flatout love it. Were primarily a Financial Program so well get back to fms. Were up 18, 16 points, 21,548. Can we see some of the bigname tech stocks, thats, again, where the action is and most of them are on the upside all over again. Amazon was down a little. We had facebook approaching 160 and have we got there yet . Facebook, no, down just three cents, 158. 88, threatening. Amazon is down a couple of bucks, 1004. Microsoft, 71. 51, nice performance there. I do own some of that stock, of course. Alphabet up, apple not really joining in the big rally recently. Its still at 146 a lot of questions about apples pricing of the next iphone and how big a deal its going to be. Its been kind of in the doldrums around 145, 146 not Much Movement. And left side of the screen, President Trump and Emmanuel Macron of france. Shortly theyll go inside for a couple of minutes of discussion before our president proceeds to see other parts of paris. Lets see what the french reaction to President Trump is. What is europes reaction . I said at the top of the show, our president going to europe is a missionary. Hes a missionary for western values. Ashley right. Stuart hes a missionary for america is a Different Society from collectivist europe. Ashley which apparently according to liberals is a racist point of view, which is outrageous. Stuart i mean, hes going there over there representing a capitalist society. Going to a continent mired in socialist distress and i think its absolutely right for our guy to go over there and say, youve got to wrong. Youve got to get back to western values. Thats what were coming from. Liz macron is agreeing, saying lower taxes on the upper brackets and businesses. Hes a different kind of president for france right now. Stuart President Trump is greeted by the official delegation. I think thats from the french, i guess, the french cabinet or European Union officials, maybe. Thats what hes doing at this moment. Its a welcome ceremony. It will take some time and after this, there will be a cathedral tour. Am i right saying that will be of the Notre Dame Cathedral . Okay. It is the cathedral of louie valdez. Ashley this is a big military theme to this because bastille day tomorrow, also the 100th anniversary of the u. S. Entry in world war i. This is why the focus is on this area because this particular part of paris, they have a retirement home for veterans, they have a hospital there for veterans and that area has a church that contains tombs of the french war heroes, including napoleon bonaparte. Thats why the focus is on this particular part of paris. Stuart to the point, President Trump is saying, hey, europeans, pay for your own defense. Ashley only done it twice. Stuart bring home that message, for three generations, america has paid for the defense of europe and europe has spent hardly anything on defense. Theyve got cradle to grave benefits and President Trump is saying, defend yourselves. Dont forget the economy of the world is intertwined. Its speaking to how can we come together socially and also economically to help out the world and gegrowth which has be the last few years. Stuart and no difference in the stock market from what youre seeing on your screen now. I do want to show you facebook, i believe it hit an alltime high. Yes, it did, 159. 32, 31, its getting awfully close to that 160 mark. And scott martin with us, buy it even at the lofty price. Two weeks youve gotten earnings, look into this stock and position for earnings, if you happen to get a pullback or disappointment in the stock, thats when you add more. Stuart John Layfield before we lose our satellite coverage, i think i remember rightly, youre saying yes, buy facebook at 159 . Scott is a smart guy and i agree with him. The growth in india, alone, if they get into china is going to be huge for facebook. Stuart thank you, john, thanks for being with us this morning. I know were just about to lose that satellite connection, back to the beach, john, i know youre in bermuda. Thank you, indeed. And some people ask us why do we spend so much time on the big five Technology Companies and they are apple, alphabet, amazon, microsoft, facebook. Why do we spend so much time covering them . Answer, because thats where the money is going. Thats where the money has been going for the past year at least. Thats where stock prices are going up. Thats where there is growth. Thats where there is dominance of the everall economy in those five technology names. Thats why we spend all our time covering them. Fab five and this has been the leaders of market growth. Frankly, not just today and yesterday, but for the future. If you think about how much of your lives the fab five touch every day, whether its your smart phone, whether its your online shopping, your internet search. Thats why you need to watch these stocks. Thats why you need to own them as well. Liz you look at nasdaq 100, its up about nearly 20 so far this year, more than double the return of the s p 500. So, the fab five are in those nasdaq 100. Stuart the nasdaq 100, Technology Companies. Liz 18 . Stuart beats the s p. Ashley i dont know if its pushing facebook higher, but plan to unveil a 200 wireless oculus Virtual Reality headset next year. Stuart 200 wireless. Ashley wireless. Liz i dont know if you want to wear it. People need dramamine to wear it. Stuart walking down the street. 159. 34 on facebook bearing in mind that news we just heard. Lefthand side of the screen, President Trump is in france and hes met the official delegation of greeting in paris. He has left, essentially, the d. C. Swamp. Three things on his agenda here, Health Reform, tax reform pan Infrastructure Spending. Joining us now is mike burke the ceo of acom, an infrastructure company. Welcome to the program. We havent seen much infrastructure. We havent seen Much Movement by the president on infrastructure yet. Youre close to the president. When are we going to get some action . Well, you know, stuart, we are hoping that and very optimistic theyre going to see something later this year. Obviously, the legislative agenda in washington has focused first on health care and now on tax reform. So, infrastructure is clearly at the top of the agenda, but it has to come after the health care and tax reform bill. But were optimistic. Stuart are you going to be part of youre a public company, youre a construction company. Have you anything to do with building a wall . We do not. We provide services for National Governments around the world. The u. S. Government is a very important and large client of ours, but were not involved in building the wall. Stuart would i be right in saying it is the states which have taken the lead on Infrastructure Spending at the moment . Stuart, you would be absolutely right. Theres a lot of talk and discussion about infrastructure coming out of washington. 70 of all the infrastructure money spent in the United States for transportation and Water Infrastructure are spent by state and local and municipal authorities, so were seeing the states move out pretty quickly on this front. We saw in the november elections, we saw in los angeles, 120 billion dollar tax program to Fund Infrastructure and we saw a program in seattle. We saw in april, the California Legislature enacted a bill. So the states are moving quickly on both increases in specific sales tax measures for transportation, we saw 23 states increase their excise tax on fuels to provide better infrastructure. The states are getting it right and were optimistic once the federal government comes on board well see a much more robust market. Stuart i sense some frustration on your part and other Business Leaders at the lack of action from the federal side of things. Am i right in saying there is a degree of frustration there . Well, i think, stuart, theres been frustration in washington for months now. Stuart how do you blame for this . Oh, its difficult. Theres plenty of blame to go around. There seem to be two sides in washington and they cant seem to get together on much of anything right now. So, were hoping that cooler minds will prevail in the coming months and well come together. Because clearly two sides of the aisle in washington want to see more infrastructure. Our taxpayers, their constituents want to see more infrastructure and everybody is asking for it and i think that cooler minds will prevail in the fall. Youve got to pound the table and have your voice heard. You cant sort of step back and say theres blame to go around, we can blame both sides and hoping that cooler minds prevail. At some point, youve got to pound that table and say, get on with it. You know, stuart, we have been pounding the table. Ive had dozens of meetings over the past nine months with members of President Trumps cabinet, with legislators, with anybody that will listen in washington. Weve been pounding our fists on the table to move forward with this agenda. Its not just with an infrastructure bill. We have provided a report to the Treasury Department back in december listing the 40 projects, Infrastructure Projects across the country, if implemented, would have a significant Economic Impact of three times the money spent on the infrastructure itself. And so, weve given them the ideas. We have provided them with ideas on Regulatory Reform that will allow us to speed the implementation of infrastructure so were not standing by. When i say we, i mean our companies, our industry. The business round table are focused on this and were pounding our fists on the table for sure. Stuart okay, id like to encourage that. And mike, thanks for joining us, sir, we appreciate it today. Thank you very much. Thank you, stuart, have a great day. Stuart thank you. The lefthand side of your screen, i believe youre looking at the Church Within the thats napoleons tomb, thats what it is. Personally ive not seen that. I was in france once after 1968. I was there in 2001 as i recall, i did go. But i didnt see napoleons tomb. The president and first lady will be looking at it momentarily. Why dont we look at the big board. We show a 19point gain for the dow, 21,552. Thats where we are. Senator rand paul talking obamacare on marias show earlier this morning. Roll tape. You know, i pledged to the voters to repeal obamacare. I think its a disaster, but the bill doesnt repeal it, it keeps about half of the obamacare taxes, it keeps most of the obamacare regulations, it keeps most of the obamacare subsidies, and it creates a giant new insurance bailout superfund of about 200 billion. This isnt repeal by any means, shape or form. Stuart it sounds like a big fat no from senator rand paul there on the new idea for Health Care Reform put out today by Mitch Mcconnell. Again, i say something, almost anything is better than nothing. Ashley yeah, and you know what . Theres an issue that they may not get to debate the latest senate bill because they need the votes, 51 votes. Rand paul has already said no. Assuming the vicepresident comes in and says yes. There could be other republicans say this isnt good enough so they didnt debate the bill and move forward. All getting together at 11 30 to go over this with Mitch Mcconnell, but he is feeling the heat. Before they start debating it. Stuart the president said in an interview, yesterday, i believe, im going to get angry. If we dont get something im going to be angry. Liz because then he can move on to tax reform and it should be we should remember in 1986, that Gold Standard of tax reform, it took a month and a half of congressional action, meaning action in congress to get that thing passed. The runup a couple of years to get it done, but actual action in congress, a month and a half. Stuart weve got to take a short commercial break and come back with my take, editorial at the top of the hour. No matter whats going on in the swamp, were still up. Back in a moment. Think again. This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov. Stuart today, thursday, july 13th, 2017, President Trump arrives in paris. Briefly, let me take you black to january 16th, 2015. Secretary of state john kerry to show americas concern after the charlie heck he bow massacre. He brought james taylor with him. Sank, you got a friend. Aging is singer from a president who couldnt bring himself to say islamic terror. That was a low moment in my opinion. How different from the president and first lady. Mr. Trump is not a poll exist, a missionary preaching the values of western civilization. The french will not like it. I expect a riot. Europe should listen to what america has to say. Europe is turning into a vast you museum. Where is is the innovation . I dont see any european amazons, googles microsofts, certainly not face books. Europe is bitterly divided over muslim immigration. Mired in slow growth and high unemployment. Trapped in a socialist secular mind set of angst. Here is President Trump telling them america is different. If you want to stop the rot, return to western values, return to the judeochristian ethic that gave us individual liberty and freedom. Oh, what a contrast. John kerry, james taylor, President Trump or first lady melania. Ouch. Second hour of Varney Company is about to begin. Were having fun. Latest read on mortgage rates, please. Where are we. Liz up above 4 . They have been rising the last several weeks. This comes as the u. S. Central bank and central bankers are dumping their bonds. There are 14 trillion of bonds that the central bankers bought and theyre dumping them. Treasury yields are ticking higher. Breaking through psychological barrier of 4. 03. Stuart how times do we have to say that i got my First Mortgage in San Francisco in the 190s, i paid 12 1 2 . I thought it was bargain. Ashley 19 1 2 in 82. It was up to 21 . I thought i was getting a deal. Stuart dow up to 21,537. We have another new high for facebook. Getting real close to 160,159. 53 to be precise. Lets please get back to my little editorial at the top of the hour. Cant stop laughing. President trump in paris right now. Busy schedule. Joining us Fox News Contributor Rachel Campos duffy. I say our president is a missionary. He is preaching western values and leaving the swamp behind in d. C. I dont think they will let him leave it behind. I think they will throw it in his face as soon as he does the News Conference today. They might. This is really impressive. By the way can we give credit where credit is due. Melania trump giving glamour to the american image. I think she surpassed kennedy, camelot era. This is amazing what theyre doing. Youre right, contrast between james taylor, aging boomer singer and this amazing glamorous presentation, give credit where credit is due. Melania gets a lot of credit. Stuart joint press conference, 12 30 eastern time. That is what it will be. Emannuel macron, President Trump. American media will be there. Yeah. Stuart i absolutely guaranty questions about donald trump, jr. s meeting with a rushion. Im sure that will dominate. Liz president obama led from behind. President trump being strong showing resolve. Ukraine now wants to join nato. If President Trump says, yes, ukraine you should join nato, by the way also a time for the french president to bridge the gap blown open by Angela Merkels chilly treatment of the president. So maybe the french president can step in here saying this is a way to bridge the two sides of the atlantic to get President Trump in on what theyre feeling. By the way macron does not like brexit. So that is an issue too. He is solidly behind the European Union. Stuart on almost all issues the europeans are opposed to what america has to offer. Except that, this is also the anniversary of bastille day. Remember what happened last year . There is very deep concern on terror front. The strength that donald trump projects in that area is something i think that the many europeans, may not be elites that write newspapers or that sit in brussels or in paris. But, Everyday French people and are concerned about terrorism and like the approach donald trump has to it. So they will be listening. Stuart i think you go a bit far. I dont think europeans like americans as represented by donald trump. Liz great reception in poland. Depends who youre talking to. Stuart western europe, very, very warm welcome. France, germany, spain, western europe in general i dont think they like or have any time for him. They loved president obama because they thought of him as president of the world but they detested president bush and they detest donald trump because they are very American People, president of america. He is not a global citizen. That, by the way that is something we americans like. That he goes over there. He projects strength. He projects a willingness to stand by our allies at same time he doesnt give up his American Flag. That said, i still think terrorism and the immigration situation is very much on the forefront of the european mind and many of them wish at least a little bit of what donald trump stands for in terms of control of the borders, they wish liz behind jihadiism radical, authoritarian antiwestern ideology. All of your rob should be standing behind the president. He is about freedom and democracy. However much you disagree with things he has said, your upon has been savaged and brutalized by naziism and communism. That was missing in the Media Coverage of the president s speech in poland. He was about western values and pushback on those authoritarian ideologies. Stuart he is not meeting Angela Merkel on germany on this trip. That is a good idea. That would be chilly indeed. Rachel, before you go. Yes. Stuart last hour we talked to your husband, congressman sean duffy, republican of wisconsin. That is your husband. Yeah. Proudly so. Stuart we talked to him about working through the august recess. Just waiting for a second. Im going to cue up the videotape of what your husband had to say. I put it to him. That you dont want the house to go on august recess. Obviously i want my husband home. I love him. Stuart i got it wrong. You do want the house to take the august recess. Hold on. Hold on you do want the house to take the august recess. I put that to your husband. Here is what she said. First up, she is cute, isnt she . Number one. On that point seriously, we have 200 bills sitting over in the senate, stuart. That havent been acted on. We cant sit in the house and hope the senate acts on Health Care Reform. Well go back to work with our constituents. If the Senate Passes Health Care Bill, well come back and deal with it. Stuart you see, rachel he is on your side here. He wants to go back to wisconsin for august. Because the house has done their work. The problem child is the senate. The senate and he is right. They have 200 bills stacked up waiting for the senate to vote on and they dont. Senate needs to do the job. Mccarthy put them on notice, within 72 hours of the senate bill being passed, sean and all his colleagues will be right back in washington, d. C. , ready to put this legislation, wrap it up to put it on the president s desk. Ashley lets hope. Stuart i let you off the hook. Rachel thanks for joining us. I appreciate it. Before we go to our next guest, i want to a market check. Were up again. Hit new record high for the dow industrials. Lots of individual stocks made record highs. Were up again this thursday morning. 21,550. Throughout the show you will look on the lefthand side of the your screen as President Trump visits various places in paris. He arrived this morning for a meeting with emanuel macron, the french president. It is bastille day tomorrow. It is also the anniversary of americas entry into world war i. Military relations will be a big meeting at deal. The president will tell for the europeans pay for your own defense, were fed up defending you at least for three generations. Im fedup. Moving swiftly along, sports fans. Our next guest says congress should increase funding for President Trumps bored are wall and cutting funding for planned parenthood and food stamps. Congressman steve king, republican from iowa with us now. Sir, you will take a lot of heat for that proposal. Spell it out. Well, stuart, somebody had to say it. Were fighting over the planned parenthood which, an embarassment we have majorities in the house and senate and we havent been able to cut off that 550 or billion dollars a year, 550 million a year goes to planned parenthood. That is something that majority of American People support. When they asked me how would you fund this wall, i think it will pay for itself what it protects us from crime. If we enforce our immigration laws, that opens up 10 million jobs for americans to do. I would start there, funding out of planned parenthood. I would reach into the entitlement programs, welfare programs. We have more than 70 different means tested will pair programs. Nobody has memorized list from them. Nevertheless how they work. Food stamps are gone up snap program when i arrived 15 years ago there were 19 Million People on food stamps. Now there are up to 46. It has been up to 46 Million People on food stamps. We addressed mall knew operation in america when we created food stamp program, now we have obesesty. 40 of the people receiving ebt cards, food stamps, are obese. Michelle obama put diet on all kids in high schools. Im suggesting if we cut the food stamps down to the level for people obese well generate enough money to build the wall and fund it, leftover money for National Defense. Stuart you can see the demagoguery. Congressman, on related issue, director of i. C. E. , thomas homan has a warning for the violent ms13 pang. Listen to this. Ms13 gang is one of the most violent gangs in the world. They are in this country acting with impunity and do what they want, victimizing the citizens in this country. We prioritizessed action on ms13. Deportation officers or special agent well double down the efforts on ms13. We will attack them from two different angles. If they Face Criminal Charges well arrest them and serve criminal charges and serve time in prison or jail. On other side if in the country illegally, when theyre done with prison sentences we will get them out of the country where they belong. Stuart he was interviewed by our colleague neil cavuto, one thing he said, his agents are not allowed into the Cook County Jail in chicago. They may not enter that jail to even question anybody, ask anybody for any information. Can you fix this, please, congressman . I think the house has addressed this, if we enforce this thing right and if we need to tighten the laws up lets do that. But sanctuary city legislation which i actually authored passed two weeks ago out of the house. That lets justice adopt eliminate the grants that are coming out of justice to these cities. I would send my biggest, strongest guy to talk to rahm emanuel. You will cooperate with us or well find things to reach chet it down and you wont be mayor much longer what the public finds out what you turned down. Any place in the country that is outrageous to think i. C. E. Cant walk into a jail to protect the American People. This is like a revolution in chicago. Stuart chicago, 1000 shootings over the long july the 4th weekend . I. C. E. Agent cant even walk into the cob county jail, i find that absolutely extraordinary. This is like the hole in the wall gang. Sank remember city, sanctuary city, they are protecting criminals, vial criminals. Murderers, rapists assaulters, armed robbers, turning them out on the streets from time to time. We saw the Obama Administration do that bit the tens of thousands into the streets of america because their sympathy for people here illegally than greater for fidelity to the law. We want let that happen. This Trump Administration has historical opportunity to restore respect for rule of law, secure our borders. Need i. C. E. Agents domestically. I would triple the number. Have each one of the cities to the point with they work and cooperate with all federal Law Enforcement at all levels of Law Enforcement. That is how it is designed to work. Stuart congressman steve king, thanks for joining us on very important subject. Thank you, stuart, very much. Stuart bring you uptodate what is going on. President trump and first lady melania throughout the program. He is visiting various monuments. See continuing very modest rally on wall street. The dow industrials up another six points. Look at that level, 21,538. That is where we are now. Another story for you, millions of verizon customers had their personal information leaked online. Six million i believe its with, emac. Liz thats right. It was done by a Customer Service Party Company in israel. Accidentally put six million accounts open up in the cloud. Put it on public setting, theory was, look at your phone numbers, your names, your pin codes. Verizon is now saying no theft or loss of that information happened. They worked quickly to solve the problem. So it exposed six Million Peoples personal information. Stuart different though from a nasty hack attack which deliberately goes in and exposes ashley this was human error. Liz thats right. Stuart that is different ball of wax. Stock not reacted. Up 10 cents, 43. Stuart verizon. Facebook another alltime high earlier today. Now weve got news on the Virtual Reality headset, oculus rift put out by facebook the news. Ashley report out from bloomberg put out the report. 200dollar version for oculus rift but the Global Market for vr headsets is tiny. Mark zuckerberg Still Believes this is the future. What they will bring it is a wireless version. That is the theory. Dont have to be attached to a pc or anything else. You can whip this thing out of your bag, put it on, say on a flight and watch a movie. Stuart okay. Ashley they believe the price point is important at 200 bucks. They believe, there is the cheaper end, samsung gear i think it is or current oculus rift at or 500 bucks. This will be about 200 and ease of use could be a gamechanger. Stuart remember ads before last christmas . I think samsung was putting out very good ads, look what weve got for you. This is Virtual Reality. This is what you can do with Virtual Reality. It was a flop. It did not take off. Vr did not take off. Ashley it hasnt appealed. Stuart my problem is seasickness. Dont mean to be facetious and silly bit but i put those things on and im all at sea. Check the big board. Rally faded not gone entirely. Individual companies and stocks in the news. Delta, weak profits at the airline, hit by higher operating expenses. The stock is down 1. 3 . Target, now here is a good story. Target is looking down the road. It sees better profits, better sales. This is retailer. The stock is up 3 1 2 . We havent seen gains like that in quite some time. Snap, got an upgrade. Although still below its ipo price of 1, it is up 17. Up 3 1 2 . Snap at 15 this morning. Visa, we like to list all alltime highs that have been hit today in an up market like this. That is what weve got, alltime high visa, 96 per share. Here is some interesting news. A potential breakthrough in the fight against cancer. An fda panel has recommended a promising new gene altering treatment from novartis. The treatment lasts about three weeks. It costs 500,000. Its a treatment for lukemia. Joining us now, dr. Marc siegel. Okay, i understand that it is promising i want you to tell our audience what is the gene therapy, how does it work . The first thing our audience needs to understand how immunotherapy works. Stuart, cancer hides from our immune system. Our emnewspaper system is used to fighting bacteria an viruses. Cancer hides from it. So our white blood cells dont know it is foreign, dont know it is bad. Dont know if we dont get in it will get us. That is what immunotherapy is. What were taking here, immune cells, novartiss out of our body, engineering them genetically to recognize protein on cancer, in this case lukemia. This is the best white blood cells for killing things. Best protection of all. Goes zooming in on the protein cancer cell and wipes it out. It is a war in the bloodstream and first test. Stuart this is the first okay for that kind of treatment, correct. First kind of gene therapy treatment for this kind of thing. Immunotherapy im talking about. The only downside, put82 of patients in remission. A lot of children. Most are young children, young adults. 82 were put in remission only six months. The only downside, you get flulike symptoms. There is some rejection gone on. So it is not 100 tolerated. If youre facing a death sentence this is amazing, amazing break through. Stuart is it opening up whole new form of very, very ad advanced technological medicine which really offers significant opportunity in the future . Is it that big . It is that big because before this we introduced drugs that went for those proteins. Now were actual engineering our own immune system to do it. Genetic engineering weve been talking about this for a decade. Ever since we unpacked the genome figured out our own again net ticks. We say what will we do about it . Were using it to modify ourselves. This will be a many treatments such as think, can you see a day coming newborns will have genetic material taken out of them, reengineered, doctored against all kinds of illnesses stuck back in the newborn . Funny you would say that shows how smart you are. You know where we get the most of the cells, from cord blood, umbilical cord blood. Its a great place to harvest these cells. When youre born they will take the umbilical cord, harvest for cells, take genetic treatments out of it, put it back in when you need it. Stuart this novartis treatment takes 3 weeks, and cost half a Million Dollars. Im sure the half Million Dollars will come down if it is accepted in society . The problem is, when we talk about Health Reform, the problem is these are individualize the treatments. It will be difficult true how to get insurance to cover it if everybodyss cells are different than anybodys elses. It is not standard treatment. I hope insurance will cover it but we dont know. Stuart okay. Till will be expensive if it works for a whole group of people the price will come down. If they have Different Companies making it besides novartis it will come down. Stuart fda panel gave approval to the novartis treatment, how sooner available on much broader scale. Approval six months this will be on the market for sure. The current fda as you know is focusing on this whole idea of speeding through a approvals just like this. So i expect this to be in a Doctors Office within the next few months. Stuart i think of novartis as drug company. Is it now abandoning whole idea of drugs going in favor of genetic engineering . I dont know the company that well. Novartis is on cuttingedge of all this. Involved in academia as well. Were looking more of a partnership between academia and drug company research. Im not surprised it is novartis. More and more were seeing pharmaceutical companies are partnering with universities. A lot of this was done at md anderson, one of the top centers in the country. Stuart im fascinated about it, in my lifetime ive seen the a rifle of genetic engineering. Were about to see gene therapy explode on to the scene. Really sound like extraordinary opportunity. It is going to save lives. It is goings to save lives. This is terrible disease. Not only lukemia by the way. It will being expanded to uses of lymphoma and melanoma. May see it in several different kinds of cancers, maybe solid tumors. Stuart doc siegel thank you very much. This is great day for cancer treatment. Stuart its a break through. Trying to get that out to everybody. Important change how we approach to treating cancer. Stuart thank you, dr. Siegel. You now this. Next month Floyd Mayweather, connor mcgreg gore face off in the boxing ring. The trashtalking started already. Roll tape. A little leg, his little core, his little head, im going to knock him out inside four rounds, mark my words. Still have 100 million and he never touched this [bleep] is an attack taxman. Im irs and im going to tax your [bleep] he is in a track suit. [shouting] cant even afford a suit anymore [shouting] stuart reminds me of professional wrestling. Not that gentleman. That is jason whitlock, speak for yourself on fox sports 1. That is a real spectacle. I suspect this will drum up though, a lot of support for this payperview fight. Yeah. That crowd in toronto yesterday was going bonkers. It was an intense soccer match was going on. Yeah, theyre going to drum up a lot of controversy. Varney, im a little bit concerned, honestly. Weve seen this in combat sports. Weve seen it in boxing in the ufc. This kind of spectacle, but this is on steroids. And the level of disrespect, the level of profanity and everything in this press conference was a little disconcerting for me. This reminded me of a rap battle. In the old days rappers used to get on stage and diss each other, criticize each other in rile, and it was pretty profane. That is what this struck me like. Like combat sports has gone fill hiphop. It is crazy. Stuart you dont approve, do you . You really dont approve . I dont know how i feel. Yesterday, and i hope your audience look, this reminded me, connor mcgreg gore was eminem and Floyd Mayweather was tupac shakur. Most people think enemy mem won the verbal. I think when he gets in the ring, may weather will even the score. I will be in vegas for the spectacle. Once they get in the ring i expect floyd to take this guy out. If it was mm. In the octagon, connor would take floyd out. In the boxing ring, Floyd Mayweather will take connor apart. For the spectacle in vegas, party, before and after this fight, yeah, i plan on being there. Stuart irare resistible for a guy like you. Hold on. One more for you. Peyton manning, as you know hosted the espy awards last night. Nba superstar kevin durant did not find mannings jokes funny. For benefit of our audience, roll tape. Our Gymnastics Team was so dominant that kevin durant told me wants to play for them next year. [laughter]. And i got to tell you, i dont you think you would start for that team, kevin. Stuart he really didnt look happy. Can you explain what is going on here . Im going to be honest with you. I like kevin durant when they played golden state won the championship. I was warming to him on his decision to go to golden state. If he cant laugh at himself . The funniest jokes are always one told on me. You have to have a sense of humor about yourself. Kevins mother was laughing hysterically right next to him. Kevin sun able to laugh. I didnt like it. Kevin, you have to be able to laugh at yourself. You one the championship. Youre one of the great players in the nba. Peyton manning crack as a joke on you. You have to roll with it. Stuart here is your chance to laugh at me. I think the big sports story today, federer getting to the final four the wimbledon. He is 35 now. He wit be 36 on august the 8th. I think that is fantastic. And you say . I say Venus Williams in the final four wimbledon is the biggest story in sports. Look, she is coming off of a tragedy, a tragic accident. Her sister is sitting out because she is pregnant. No one thought venus had another major in her. Now with all a the top players out, i think venus is is going to win this thing and no one saw that coming, and given the car accident and that controversy that she has been struggling with, for her to have this chance to win north major title, i think that is the biggest story in sports. Stuart 150 to you, jason, i think you won that one. Youre correct. Come see us soon, las vegas for the big fight, want to see you. Thank you, varney. Stuart yes, sir. Check that big board. Oh, we lost the rally. Were down now. Not much but down 12 points. Look at the level, 21,518. Got it. Another check of facebook, please. 158. 97. Earlier we hit above the 1159 level. We had record on that stock earlier today 159. President trump in paris. Will hold a News Conference with french president emanuel macron in couple hours. We have lonni chin, from the hoover institution. This is another chance for our president to promote western values. I think he will take the opportunity. What say you . Indeed it is, stuart. If you look at the president s foreign trip he came back from actually earlier this week the opportunity to define americas Foreign Policy vision in poland followed up by the g20 meeting clearly there was disagreement, he was presenting a point of view for Many Americans is Welcome Change from the last eight years, this is opportunity in france to reiterate americas, our friendship with one of americas oldest allies but also to see Common Ground on issues Like Fighting terrorism, potentially cooperation in syria and other issues. So this is an opportunity clearly for the president to present a unified front as he travels abroad again. Stuart i see our president on this occasion as missionary, going over there, telling them, support western values because you need to support western values. I dont think he will be wellreceived but i think he is doing exactly the right thing. Are you with me . Its a message they need to hear, stuart. Its a message important for the United States to convey that a at core we still believe these are the values that underlie healthy democracy and peace around the world. Ultimately if that is our goal promotion of values of western democracy is crucially important. This is one area where President Trump has been quite strong. Stuart i know youre a financial guy, so i want to talk a little finance for a second here. Democrats are giving fed chair janet yellen, theyre giving her the credit for what i call the trump rally. Now, you tells us, is this, is this what weve seen, the dow go up, 16, 17 since the election. Nasdaq gone up 20 since the election. Is that the yellen rally are the trump rally . It is inconceivable to me president ial leadership has nothing to do with the strength of the market. Obviously the president and the administration set the dont in terms of giving people the impression that we have an environment in america, we have an environment in markets that is open for business. Obviously the president , his policies, what he is trying to do has something to do with it, has a lot to do it in fact. To you say he doesnt have anything to do with it at all strikes me as blatant politics. There is a lot of factors going into the, exuberance we see into the markets right now, tax policy and Regulatory Reform are crucial. Stuart wellsaid, a very busy day. Let me wrap up a little bit what is happening here. We lost the rally. Were down 17 points on the dow, 21,500. We were up about 20 points. We are down about 18. The president is in paris touring monuments with frances president emannuel macron. You will see more throughout the show. We have this for you, former dnc chair, Donna Brazile has written a book about the 2016 election. The book is called hacks quote. Time to tell the truth about what went wrong in 2016. She said our democracy is in crisis, that is what she says. Kristin tate is with us, author of, i love this title, government gone wild. Kristin tate joins us now. Has Donna Brazile forgotten she is the lady who fed questions as cnn employee to Hillary Clinton . This is totally hilarious and absurd. Stuart, i think she should rename her book, cheats, put a big picture of herself on the cover. Donna brazile is proven dishonest hack. She is embodiment of everything that is wrong with the the dnc. She says she will expose the dnc, what happened during the election. She should look in the mirror. This is a woman who used her position as a cnn commentator to obtain debate questions. She then gave the debate questions to Hillary Clinton, ahead of a democratic primary debate giving her an advantage. Then Donna Brazile lied about it for months. In fact she didnt even admit to this until march of this year. So she has lost all credibility. Im not sure why anyone would believe anything in her book but , best of luck to miss brazile. Stuart were talking about collusion between the Trump Campaign and those wicked russians and meeting with donald trump, jr. , and the russian lawyer who promised dirt on hillary, that is detestable, that is worth impeachment proceedings. But when Donna Brazile somehow or other, as a cnn employee comes into the possession of questions which Hillary Clinton will be asked, no there is no collusion there. This is fair game in politics . Last word. Yeah, it is unbelievable. The American People see right through this stuff, and Donna Brazile says she is going to reveal what happened in the dnc . I mean wikileaks already wrote that book for her. John podesta fell victim to a thirdrate phishing scam. When hess emails were released people saw firsthand exactly what was going on in the 2016 election and exactly why Hillary Clinton lost. You know, stuart, im not sure who her audience for this book is. Republicans they have no interest in this. Democrats, theyre still bitter about the election. They dont want to read this either. I guess audience for people that want to run a Poor Campaign and mismanage a candidate. I really dont get it. Stuart kristin, i do hope i never cross you because i really dont want to run up against you trying to push a book. One more for you though. Democrat congressman brad sherman from california he formally filed the articles of impeachment or an article of impeachment against our president. Listen what he had to say last night on the fox news channel. Roll tape. He threatened comey in order to get comey to curtail the investigation of flynn. Thats obstruction of justice. It lines up perfectly with the code section. And, with the cases that have defined it. Secondly, he fired comey and then said that his reason or that the effect was to curtail or thwart the investigation into the general russia matter. Of course in the last couple of days we have learned how important that russia matter was. Stuart i think congressman sherman is overplaying his already shaky hand here. But what say you, kristin . This is exactly the kind of stuff that makes democrats lose all credibility. For impeachment there needs to be a crime. There is no crime here. Obviously still no prove of collusion. This guy appeared on Tucker Carlson on fox news last night. He made a complete fool of himself. He basically admitted there is no crime and has no reason for doing this. He knows an impeachment is not going to happen with republicancontrolled confess. Im not sure why he is doing this. I guess just to get tanks and to divert more attention away from trump and his agenda. You know this is really just a big problem with the democrats right now. Theyre all about obstruction. They hate donald trump so much that they are willing to do anything to try to take him down. But at the end of the day this is really only going to hurt the left because they are stuart hold on a second. I want to bring lonni chen, still with us. On want our opinion on brad sherman filing articles of impeachment . Seems to a lot of people this is really overplaying your hand. What say you . This is entirely a political stunt, it is a gimmick. Meant to play to certain element of the democratic base. Look at Democratic Party where they have gone since the election they have gone further to the left, rather than coming to the right to find areas of consensus. As general matter they are playing more to placating a leftist base. This sort of thing, this activity as your previous guest says, this strains the credibility of those democrats who might work with republicans to get to Practical Solutions with health care. To get to Practical Solutions on tax reform. That is challenge we face, we have polarized system. Stunts like this dont make things any better. Stuart lanhee chen, thanks for joining us. We appreciate it. Super busy day today. Lefthand side of your screen that is paris, President Trump is meeting with french president macron. Im not sure where they are now but the president is touring, theyre heading to the palace, the official residence of the president of france. They will hold a the meeting. They may say something, you may get that little bite of videotape as two leaders sit together. You may get that. If you do, we do, you will too. We will certainly show it to you. By the way in about two hours they are due to hold a formal press conference, the two leaders will appear side by side. I will personally guarranty the American Media, who are there, the first thing they will say is, donald trump, jr. , russia, russia, russia. Almost guarranty. Ashley absolutely. Stuart no way around it. That is what they are going to do. That is embarassment. Here is our president going to europe, he is missionary, telling them western values, support them, sports fans. What have we got . We have a carping American Media that wont let russia, russia go. Im embarrassed about it. Liz not covering other issues, not every. Look at nightly news broadcast last night, abc, nbc, cbs, 54 of their half hour broadcast went entirely to one story, donald trump, jr. Cbs, it was 70 of the coverage was donald trump, jr. Only five minutes in half hour broadcast went to all other stories combined. Im getting hacked up. Now this, new numbers show wait times for rides at disneyland have skyrocketed since the Amusement Park raised prices. That is not right. If you raise prices fewer people go, so lines get shorter. Liz 24 increase. 24 minutes on average for a ride. Space mountain the worst, more than an hour at 65 minutes. Up from 48 minutes in 2015. What do you do . Here is the advice. You go to disneyland or disney world in september and january when no one is around. Go on a thursday. Dont go on saturday in july or midmay. That is how you get around it. Stuart find it surprising. Disney is already expensive. They have upped the price wait time goes up. Ashley where is the benefit . Stuart i love those theme parks. Taken all the kids and grandkids, heaven knows how many times. The script says adlib the big board, go to commercial. I can do that. Great job, right. Down six points. 21,526. Yes, well take a break and well be back. Ashley Fox News Contributor byron york says a lot of news organizations are in the weeds over donald trump, jr. s emails. Roll tape. A lot of news organizations are deeply in the weeds. This is the scandal that ate Cable Television in some ways but i agree with you about the voters concern. I think that there are as always, more concern about what the president might be doing to improve their quality of life, which is why, by the way, the president himself should spend more time talking about his agenda, talking about tax cuts, talking about tax cuts, talking about repealing obamacare, talking about border security, talking about all the things that got him elected. Copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. baby crying slow jazz music fly me to the moon and let me play bell ringing audience cheering stuart ann coulter on our show earlier this week and she called republican lawmakers obstruction it. She singled out one senator in particular. Roll tape. Thom tillis, he is going precisely against the trump agenda. He refuses to confirm the head of the Immigration Service unless he can get a bunch more cheap Foreign Workers for the chamber of commerce. Stuart there was a slam, and that senator, thom tillis, republican North Carolina joins us now. Youre not happy with those comments, sir. Respond please. Well, i am not going to judge the comments. What i will talk about the policy. The fact of the matter is there are positions that arent going to be filled in businesses and businesses harmed and American Workers that will be harmed if we dont start getting work visas right. Incidentally, when we go back to the administration, we should keep in mind now President Trump, then candidate trump pointed to this as being a problem. Temporary workers, seasonal workers, not having enough of them, up to including maralago. Stuart sir, do you want more of these temporary workers visas . Is that your position . Do you want more . What were trying to do, stuart, to come up with a rational change in the policy where if a business can prove that they cant hire someone for the prevailing wage, that they can spend the additional money, which is average of two or three dollars an hour, sometimes as much as 5 an hour more to bring in someone from a foreign jurisdiction. No business in their right mind would do that unless theyre completely convinced having to advertise, having to do wage surveys they cant simply find the jobs, and these businesses are seasonal. They wont open. Happening in alaska. Maine, alabama, texas, this is a national problem. It is not a big problem. It is a relatively small base of the employment of Foreign Workers in this country. Lets talk about h1b visa workers where we have thousands of tech workers. We need them because were not graduating enough stem employees or stem students. This is coming, getting out of the rhetoric. I get some of the pundits position but they really ought to sit down to talk with businesses that are not goings to open, american jobs, and american businesses will be at risk as a result. Stuart senator, on the lefthand side of your screen, i dont think you could have seen this, senator, President Trump just arrived on the steps of the palace created by emanuel macron. Theyre going inside as we speak for substantive policy discussion, no doubt discussing the military and probably climate as well. Before our president went to paris, President Trump warned Senate Republicans, Mitch Mcconnell, in particular, get Health Reform done. Let me roll that tape for you, senator. Roll it. Mitch mcconnell is a tactician of great skill. Do you think he can pull it off . It is his job. He has to pull it off. Mitch has to pull it off. He is working very hard. He has got to pull it off. Stuart well you heard him. He is getting angry. He will be angry, the president said i will be angry if we dont get something done. Youre smiling but the president is really pushing for this hard. Let me be clear. I will be angry if we dont get it done. This is promise made to the American People for seven years. Obamacare is imploding. We need to put health care on sound footing. We need to provide a safety net. We need to address these fearmongerrers who say we will harm people. There is no earthly way well harm people. What well try to do is create a Health Care System that is sustainable. I support the efforts to move forward. I support what mitch is doing. I agree with the president. Stuart yeah, but senator, there are conservatives in the senate no, no were not going do do it. Senator rand paul this morning is saying, given Mitch Mcconnells this morning new proposal, doesnt want anything to do with it. He is vigorously he opposed to it. Candidly i dont know if there is any solution outside of senator pauls solution he would vote for. The issue how do we get to 51 votes. Stuart yeah. Were having a meeting to go you through the proposal. Gets scored over the weekend. Stuart this is foundational for our ability to go forward with number of other measures have to get passed to get health care on sound footing along with administrative actions that have to be taken to deregulate all the regulations that have come after obamacare was passed. So we have to lay the predicate for a Health Care System we can negotiate on our terms that will be on sound footing and will provide a safety net. Stuart is there understanding within the Republican Party, that this absolutely must be done . Is there an understanding, this is my opinion, at that something is better than nothing . In my opinion it is better than nothing. We have to move forward with it. We know the problem that people are running into is thinking that this is the end of the health care discussion. This is the beginning of it. This lays the foundation for some other things that we have to do. We did medicaid reform in North Carolina when i was speaker. I remember a lot of these arguments. And now weve got a pretty good solution in North Carolina. They all need to improve but you have to overcome these objections. Have the courage to cast a vote, then move forward with more solutions. Stuart okay. Senator, you will be staying in washington, d. C. , for at least the first two weeks of august, correct . Yeah, i was part of the people, we signed the letter, we worked with the leadership. Im very glad mitch made the decision to postpone the recess for two weeks. I for one would like to cancel the entire recess to stay here get a lot of other things done. We need to get health care done. We need the National Defense authorization act done. We need a lot of judges confirmed. Then we have to move to tax reform. Stuart got it. Senator tillis, thanks for joining us. Thank you. Stuart thank you very much. Now this. New study claims we are going to rack up a trillion dollars worth of credit in total that is, racking up a total trillion dollars in credit. That would be by the end of the year. Now, liz, you can take this either way. You can say, oh, here we go getting into more and more debt, or you can say were quite prepared to spend money, borrow it and then spend it to expand the economy. Which is it . Liz Consumer Confidence number, youre right, have been coming in president strong. Weve been reporting on them weekly. We did that story earlier about people using their credit cards to buy experiences like concert tickets instead of refrigerators or couches. Ashley instant gratification. Liz instant gratification, spend now, that is not good when youre facing 15 , 118 credit card financing charges. Stuart true. It could be a signal. Rack it up to a trillion dollars. Remember 1. 2 trillion in student debt outstanding. It dwarfs mortgages. It is dwarfs mortgages and credit cards. That is incredible. Ashley it does. Stuart were up not much, up one point. 21,0053. More varney in a moment. 21,533. Think again. This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart listen up, this could be, could be a breakthrough. News on Health Reform coming to us from senator ted cruz. He says im encouraged. This is about the latest idea, the latest plan put forward. Im encouraged. I think were making positive steps. Anything more, ash . Ashley ted cruz has a plan conservatives like, not the centrists. It would let insurers sell plans that dont comply with current regulations if they also sell policies that do. In other words the overall aim of ted cruz to bring down premiums. He is saying now that his look at the latest senate draft of the bill incorporating him, his ideas looks promising. Stuart that is, that is interesting. Look, i dont expect any impact on the stock market. Ashley step in the right direction. Stuart just come out, incremental step in the process of moving up. We have to take a break. Well be back in a moment. Stuart President Trump now in paris trying to leave the swamp behind or at least hes trying to do that but oh, what a swamp it is. There are serious issues that should be under serious discussion, health care, tax reform, for example. Thats not making the headlines. Oh, no, impeachment, al green and sherman have introduced impeachment and representative scott on the facebook he called out president a rapist. At the very center of the swamp hysteria, is that meeting that donald trump, jr. Held with russian lawyer but produced nothing. That meeting took 54 of broadcast news air time last night. At cbs12 minutes on russia, russia, 5 minutes on all other stories combined. These people have lost their mind and i think hes mind, this is trump syndrome. This is what we are covering, the new Health Care Reform bill and economic indicater, 44 Million People get by with a side job on top of their regular job. The stock market second record and, yes, President Trump in paris and american missionrary. The third hour of varney and company is about to begin. [laughter] breaking news. Mcconnell will discuss Health Care Reform as meeting details from the new bill it will be posted online. Also happening this hour, House Speaker ryan will hold weekly News Conference on capitol hill. First, though, we have to check those markets. Record after record, here we go. Look at the duh industrials up 7 points now. 21,539. We have hit 23 record highs this year, the market clearly shrugging off political turmoil in washed. Moments ago, senator ted cruz used the word encouraged when asked about progress on Health Reform, roll tape. Well, im encouraged. I think we are making positive steps. It was a big deal that the senate draft now includes the Consumer Freedom amendment, thats the amendment that my office drafted and its really focused on getting you the consumer the pow tore choose what Health Insurance you want. Stuart joining us chris wallace, Fox News Sunday host. Chris, youre in the middle of all of this, can you youre shrugging your shoulders, but can you assess if this statement from ted cruz, this response to peter doocys question s this Real Progress . Chris we dont know exactly how it fits in the bill if it includes amendment, one plan offered in every exchange that fulfills all of the obamacare essential benefits, all of the protections and then they can offer cheaper, skinnier and mixed bags that will absolutely love it. More freedom of choice, takes away not the employment mandate which is already gone or individual mandate. It takes away the insurance mandating benefits all that need to be included in a plan and will lower premiums. The flip side of that more moderate republican senators are concerned, if you start creating this kind of divided market, then, yes, Healthy People will buy cheaper plan but that is only going to increase the expenses for the bigger plans and, in fact, youll have an Insurance Company for Health People and Insurance Market for sick people and the sick people wont be able to afford coverage. Theres moderates who will not go along with that. Theres a real quell and theres a real question not only they will be able to pass the mcconnell plan next week but whether theyll even get the 50 votes plus, tiebreaker from the Vice President to even bring it up on the floor to discuss it. [laughter] stuart i dont know what to say because the details are crowding out the big picture. To me the big picture is they have to do something, obamacare is collapsing and the Republican Party will get the blame if they do absolutely nothing, doing is not a possibility. Its not something that can happen. Chris but, stuart, you call it ma under the current plans, theres tens of thousands of voters in your state who has coverage who may lose it or not be able to keep it because it becomes expensive and i agree with you after seven years of complaining to obamacare, but you also have to answer to thousands of voters for state and its not manucia, its life or death. Stuart i scht that suspect that that News Conference will be dominated by russia, do you think thats going to happen . Chris its not a full News Conference. Generally when leaders meet they take two questions from each side so theyll be two questions if this follows that form from the american reporters and depends to some degree who the president was asked. I hope he would be asked one question about russia because he hasnt really spoken out except in select interviews on the subject and its a lot to ask him. There are some legitimate questions and i certainly agree with you, some of the farleft and lets point out, this is not the mainstream of the Democratic Party, this is farleft members of congress who are talking about articles of impeachment. We are no where near even for serious democrats. There are legitimate like meeting with russian representative, you do want to hear what the president has to say about that. Stuart this will be a first opportunity for the president to speak and address the meeting by his son. One last one real fast, chris, i said that President Trump is a missionary to europe. Would you go that far . Chris im not sure i would use that word and i take your point and i think it is representative of the very strong speech that he made in poland where he talked about the need to defend western values and western civilization against threat of radical terrorism and to that degree, paris as we know or france overrunoverrun is too strong but serious threat from radical islamist to the degree that he backs macron and makes that case, maybe it is missionary work. Stuart chris wallace, thank you very much, indeed, you have a lot of work to do, go do it, sir. Appreciate it. Chris thank you, sir. Stuart yes, sir, big banks, some of them reports tomorrow. Our next guest will say that trump rally is pretty much dead, strong stuff from dick, analyst, ive got a couple of minutes here, you tell me why bank profits will show that the trump rally is dead . Well, basically itll show that the economy is not moving forward. Basically what we are looking at if loan category by loan category, substantial slowdowns, commercial industrial lending was, you know, growing at roughly 7 to 8 a year ago, its growing at 3 right now. Home Equity Lending is declining, loans on First Mortgages, you know, were growing at 3 , they are growing at 1 . Youve got credit card loan that is are growing at half a rate than a year ago. You have a decline in auto loan growth. You know, other than Construction Loans and construction on multifamily apartment buildings, you dont have strength showing up in the loan books of banks in the country. Stuart bus that mean the economy is slowing . It would suggest very strongly that the economy is not moving very rapidly, yes. If you say that bank lend asking a proxy for growth and economy, basically bank lending is showing an economy thats not growing at a very rapid rate at all. In addition to which you mentioned moments ago trillion dollars of additional debt, we could be moving where theres so much excess cash in the economy that the banks are opening what they call a credit box, credit box meaning that theyre not lend to go subprime borrowers again which they are definitely doing, if they do that, ultimately youre going to be increasing loan losses, loan losses went up in 2015, they went up in 2016. They will go up this year. You get slow loan growth, increase in loan losses, you have some issues that you have to deal with. Stuart i call this a warning from dick who has been right in the past. We will check it out. Dick, thanks for joining us. Im very sorry about the short time, extremely busy news time. Opened up a thousand dollars a share, new and improved echo later on this year. Bad news for people that bought echos like liz. [laughter] stuart verizon, huge data leak exposes millions of customer records, names, addresses, phone numbers, Social Security pins, 6 million customers information on them leaked online by one of the companys outside venders, it was an accidental leak, nothing intentional. Right. Stuart verizon theres no theft of verizon customer information, the stock is up 17 cents. Details from the new Senate Health care, obamacare taxes on the wealthy are staying in as we reported before. It can is encourage that ted cruz encouraged that his amendment is in. Very fluid hour ahead. First we will be joined by eric, we will get into it again, health care, we did last time. What was that that he got . Ashley a graph that was going up. Stuart mr. Balling will be joining us shortly. Clean formula clean formula kills 99. 99 of odor causing bacteria and helps dissolve stains. Cleaning in a better way than brushing with toothpaste. Thats why dentists recommend polident. Polident. Cleaner, fresher, brighter every day. Stuart do something. Its a piece of crap bill. Its a piece of crap law. Stuart thats nothing. Are you kidding . Youre doing exactly what obama did and democrats did, youre dealing with Health Insurance costs, prices, not the Underlying Health care. Reconsider your stand on health care. Stuart never, never. Thats why ashley round two. Stuart welcome back, eric. Thank you for pointing out how right i was. [laughter] stuart we know most of it and we have this comment from senator ted cruz, conservative, very much your kind of guy, he says, look, im encouraged, i think we are taking positive steps, it was a big deal that the senate draft from Mitch Mcconnell now includes Consumer Freedom amendment, amendment that my office drafted and it really focused on giving you consumer the pow tore choose what Health Insurance you want. I think thats incremental progress towards some kind of deal and you say . Maybe, but theres still probably going to be short. I think what ted cruz is talking about is if i understand what he and maybe even one or two other senators have said, let obamacare continue to live and offer alternatives to obamacare, maybe this is a complete repeal and replace. Again, none of these bills, not the house version, not the first Senate Version, not the rewritten Senate Version attack what really is the problem with health care and its the cost of health care, not the cost of Health Insurance. None of them do it. Stuart i agree. If youre not going to address the things that you and i and everyone in the network for the better part of eight years, ie, competition across state laws, tort reform. These are things that will bring the price of health care down. Stuart i agree with you. I dont know. Stuart wait, my argument something something is better than nothing. If you have nothing, we are stuck with obamacare and the Republican Party commits political suicide. I think the political suicide stuart if you do something you can build on it later. If you do something now and have something now worst than obamacare people over 50 years old, their premiums will be going to 2018 election, cbo scores it. You will tell these people to vote for republicans in the 2018 election even though their insurance premiums are worst than obamacare, do you really thats not political suicide . Stuart one second, eric, because i have breaking news from janet yellen, she made news on the economy. Ash, tell me exactly what she said. Ashley given what we are seeing now, quote, we will be challenging to get to 3 gdp in the next five years. Stuart whoa. Liz annual growth gdp, wow. Stuart she discounts the idea of tax cuts presumably. Ashley given what we have seen. Remember the chart i was holding up, thats the Dow Jones Industrial over time. That means as you continue to go forward, you release the economic power of of might of the United States by reducing taxes and roll back regulation. I think 3 is easily obtainable. Stuart no argument there. You cut taxes and you bring some of that money back from overseas, and you have yourself a stimulus. Maybe she said that so she doesnt have to raise rates and the economy continues to be on low Interest Rates. Stuart im determined to have the last word. Something is better than nothing. 2018. [laughter] stuart do i see you at 5 00 oclock tonight . Out can pick up the book, the swamp. Stuart number two, number three and number one. Number two in wall street journal and number three in New York Times. Stuart you other me, i pumped that book. Youre the reason why it made the New York Times best seller. Stuart i await the check eagerly. Good stuff. We are waiting details, the formal details from the senate new health bill. Theyll be posted online ten minutes from now. We pretty much know most of it. Its be formalized in ten minutes. Senate majority leader Mitch Mcconnell will meet with republican senators and also hear from House Speaker ryan, all of this on health care. While we wait, this, iceberg breaking away from antartica weighs more than a trillion tons, we will have details on that in a moment and a massive spot has appeared on the sun, can you see it . 75,000 miles wide could send dangerous solar flairs down to earth, you get it all on Varney Company, the sun balling an iceberg, what a day. Stuart dramatic drone footage after three years of isis occupation and constant fighting. Not much left. United nations estimates it will cost a billion dollars to rebuild the citys infrastructure, who pays . Dont know. Now this, massive iceberg breaking away from antartica, weighs a trillion tons, three times the size of london, scientists have been watching it for a year away. Its broken away. Massive spot that appeared on the sun, it is 75,000 miles wide, the car alone is larger than the either, experts say could send dangerous solar flairs to earth maybe knocking out communication satellites, maybe causing blackouts but thats quite a visual. Big milestone for highpollute technology or so we are told. A company completing scale run. 70 miles an hour ultimately its supposed to go at 750 miles an hour. Success, theyre applauding. Meanwhile driverless shuttle buses are being tested in West Sacramento california, that model right there is the easy ten. Its battery power, you program the route in and off you go. This bus moves between 8 and 10 miles an hour. Sacramento. Ashley i dont want to get stuck behind it. [laughter] stuart details of the new senate Health Care Bill posted online minutes from now just as Senate Majority leader Mitch Mcconnell tries to sell it to republican senators and look at that, the market is going up. Theres a lot going on. 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Call to save 500 off bath walls with your walkin bath or visit kohlerwalkinbath. Com for more info. Stuart listen to this. Two details from the senate, the new senate plan on health care have been confirmed. Here we go. Ted cruzs Consumer Protection amendment is in, so are those obamacare tacks on the wealthy. Come on in adam shapiro who has confirmed a third detail of this new plan, what is it . Additional money on top of the 112 billion for the state on the 70 billion because of the ted cruz amendment. They are concerned that the ted cruz amendment, stuart, will raise premiums for people who have preexisting conditions because the cruz amendment allows people to buy obamacare noncompliant cheaper plans but the Insurance Company still has compliant obamacare. Republicans worry that that will drive the cost and that of the insurance spectrum. They are adding this money to try to offset some of that. Stuart adam shapiro, very important details. Let me summarize. New plan is now online. Theres some compromise here. Extra 70 billion to keep consumer the premiums down, theyll be a lot of money for opioid addiction treatment, the taxes on the wealthy stay, what am i missing here . Liz preexisting conditions stay. Stuart still covered. That seems like a real compromise, but ted cruz conservative, his consumer amendment is also in. Compromise, looks like a compromise and the market is up. Im not sure if its responding to that but the market sup. We are 22 points high now. 21,554, whether he digest the Health Care News by right now we are moving on. President trump if you have been watching the program, you will know hes in paris today on the heels of the powerful speech in poland last week where he defended vigorously western values. Come on in dan henninger, he has a column in the journal. I said this on the program this morning, President Trump is a missionary over there in europe, youre laughing, why . You have to take on mission work to europe, last pope, Pope Benedict tried to do it. It was about their survival. The reaction on the left, he goes over there and says that the we should align with the polish people on behalf of family, freedom, faith, government and theyre saying this is like an atright dog whistle to world voters in the United States. If trump were to sang the star spangled banner they would say its an altright values. It was a choice between Hillary Clinton, the successor to barack obama or whoever was running against her. What do i mean by that, barack obama is a man of the left and i think the left has never been comfortable in this country with the kind of difficult system the Founding Fathers set up, the system thats suppose today protect smaller units of government including individuals. When the left gets an idea, universal idea like climate change, they want to shove it down to the American People out in the 50 states, so they did that with climate, the epa, the Holder Justice Department filed lawsuits against towns, police departments, schools because of alleged racial discrimination, tom Perez Labor Department did the same thing to the private sector and i think a lot of the american base said, whoa, wait a minute, what is going on here, we are supposed to be protected from distant central authorities in places like washington, the same way the colonist wanted to be protect from king george and distant parliament in london. That was what was at stake in the last election and trumps base consisted of half of the american electorate. Stuart dan, hold on for a second. Doug remains a democrat. He does. Stuart whats wrong with our president and i say hes a missionary in europe going over there defending and pointing to western values as the reason for our success and why we are different. You have a problem with that . None at all. Stuart youre a democrat. Stuart, you werent here in 1960 but John F Kennedys inaugural said that our freedom and liberty came from god, not Political Parties or washington and his plea was the same plea that donald trump made. I think those are bipartisan values. I certainly share them. The point is can he implement them in a way that reflects the greater good for the country. Stuart okay. What are democrats doing calling for impeachment . Well, i think its a bad mistake. I think there are two now doing that. I wouldnt recommend it. I would recommend an alternative agenda to the trump agenda but they havent done that yet so i think theyve made a mistake. Stuart not even close, doug, not close to recommending their own policies or own growth. They are playing a different game. They see trumps approval at 40. They believe in midterm elections, best strategy is paper over differences and as they put it resist. Stuart ly get back to you in one second. I appreciate it. I take dougs point. That no democrat today would deliver a speech pailing the west which now among the left is a term of oppression of siege people. Wont go there anymore. Stuart ridiculous. Since the election the Democratic Party has moved further left, theyre in a state called resistance, sort of standard leftist term to everything that donald trump represents. I think they become blind today that idea right now and theyre sort of relying as to doug is suggesting on the Trump Administration itself, shooting itself in the feet continuously, damaging itself going into 2018 elections an picking up the pieces then. Stuart i think if donald trump, President Trump guesses gets a win or health care and tax reform, the star rises. Im sorry, could i jump in here. Janet yellen reported said below 3 growth for the next five years, thats what shes predicting. We have been more than ten years without 3 growth. Thats the obama economy. Ashley thats true. We are going to have 15 years of sub 3 growth, thats unacceptable. We average 4 from 1945 to early 2000s, right, am i wrong . Stuart unless we cant cut taxes. She did just say that. She could be looking the 3. 8 investment tax is staying in the Republican Health care bill, that was going to be a Capitol Gains tax cut and now if they cant get it in the Health Care Bill, what are they going to do when the real tax bill comes up, they have to find the money somewhere. Thats maybe what shes talking about. Paul ryan holding brief conference and i will listen. Assess the damage. Second, the house continues to take action on issues that affect people in everyday lives. Yesterday the house passed three more bipartisan initiatives to combat human trafficking. Today the ways and Means Committee is holding another hearing on tax reform and this one focuses on struggles that businesses are facing under the stuart hes not talking about the main issues of the day at this point and i would characterize main issues as tax cuts and Health Care Reform. When we gets to that we will dib back in again. I promise. Doug, i want to talk to you about Donna Brazile, shes got a new book thats coming out shortly, its called hacks, the inside story of the brakeins and break downs that put donald trump in the white house. [laughter] stuart isnt Donna Brazile the lady who leaked president s to president ial candidate Hillary Clinton . And then lied about it on fox news. I know Donna Brazile and i guess my characterization would be the title of her book would apply probably to people like me who have been in politics a long time but i would say herself as well. Stuart but you cant rein in the left. Youve given them free rein, they run your party. Sadly, thats true. The far right has has more influence i would like on the Republican Party, but stuart, i believe in bipartisan coo coopoeration. Stuart i want to get back to janet yellen. I have 30 seconds. Thats not moved the market. We are up 16 points, nor should it actually. Right. Stuart youre not going to get to 3 growth any time in the last years the way things are going. I cant believe that she really feels if we only have tooks cuts we would get to 3 growth. She said tax overhaul could help if it was properly designed and theres room for improvement with the current Corporate Tax structure. Stuart properly designed. Who knows what that means. Stuart isnt that right . Across the board tax cuts, you heard that in a way that relieves the burden on the middle class and to offer a Capitol Gains cut to the wealthy so that they invest and its critical and helped in 1997 when bill clinton and when Ronald Reagan did it, you know what, stuart, its not a question of bipartisanship. Its a question of facts about economics. Stuart i tell you what im going to do, i will search high and low for a democrat who says what we need now is across the board tax cuts the way youve just said it. If you find them, tell me and i will have lunch with them. [laughter] stuart Senate Health care plan includes additional 70 billion to help state lower premiums, we know it also includes obamacare taxes on the wealthy, they stay, ted cruz Consumer Protection amendment. Big deal, sounds like a compromise. More detail coming as we comb through the bill, we will be combing. We will be right back shes nationally recognized for her compassion and care. He spent decades fighting to give families a second chance. But to help others, they first had to protect themselves. I have afib. Even for a nurse, its complicated. And it puts me at higher risk of stroke. That would be devastating. I had to learn all i could to help protect myself. Once i got the facts, my doctor and i chose xarelto®. Xarelto®. To help keep me protected. Oncedaily xarelto®, a latestgeneration blood thinner. Significantly lowers the risk of stroke in people with afib not caused by a heart valve problem. It has similar effectiveness to warfarin. Xarelto® works differently. Warfarin interferes with at least 6 bloodclotting factors. Xarelto® is selective, targeting just one critical factor interacting with less of your bodys natural bloodclotting function. Im Nicole Petallides with your fox business brief. Something new from apple, you can go right over to the store and have new experience. You see apple higher today. This is the home kit experience and you can use one app from apple, go right over to the store and inside the store across the country you can learn to use smart lights, wifi thermostat, tap on the iphone, i watch or use siri, learn how to move things around, you can lift the shades, so much you can do around your home. Fox business spoke to apple genius who told us they will help you set up smartphone using facetime or you can speak with them over the phone. Amazon earlier this week said they were setting up somewhat of a geek squad to come to your home to help you this way. Stuart okay, i want to giver out some more on the Health Reform plan which we now have before us. It sounds like a compromise. The detail which we just confirmed which is very interesting, extra 70 billion on top of 120 billion that goes to the states so that you can keep premiums under control. Thats new and it was just revealed to us as we combthrough comb through this new bill. Taxes for the wealthy and paul ryan just said if the Senate Delivers Health Care Bill, the house will stay in session to deal with it. Making progress it sounds like to me. I want to bring in andy puzder. It sounds like a compromise, it sounds like some progress from your advantage point, do you agree . Absolutely look, stuart, this really isnt as bad as people are making it sound. What we need to do is reinstill, we need to readd competition back to the system. This bill does it in three ways, the new bill will do it three ways, one it gives people money through the tax credits which means theyll have cash to buy insurance, Insurance Companies will want to compete for that cash. Ted cruz amendment and mike lees amendment allows insurance to hone their plans so people actually want to buy and extra 70 billion will protect people with preexisting conditions from seeing their premiums excel and lastly, youve got Health Savings accounts which they are going to double the amount you can contribute and allow you to pay insurance premiums and other noncovered expenses. Individuals will be looking for best prices on products and Insurance Companies will be offering them and people will have the cash to pay for them. This is actually a very good bill. Im not disappointed with it at all. Stuart i cannot see that if push comes to shove at the moment of the moment, i just cant see the republicans in the senate saying, no, we dont want this, we are not going to have i just honestly, andy, i cant see that happening when push comes to shove. I cant see that either. I was listening to what paul ryan was saying and ted cruz was saying, youre starting to feel ten us theiasm. You want to be the one senator out there that killed the republican effort to substantially repeal and reform and improve obamacare, no, you dont want to be that person. As far as the tax cuts, lets deal with tax when we deal with tax reform. They get mischaracterized republicans trying to help the wealthy, thats disingenuous, leave it with deal with it and im anxious to see that passed. When you were running several businesses, obamacare was a real thorn in your side. Would this new bill if it were enacted remove that thorn in the side of Restaurant Operators . Absolute i, the employer mandate goes away and will help working americans, you talked earlier about the number of people working two jobs, thats because under obamacare and gdp growth so low, you have so many part time jobs it was very, very difficult for people to make a living by having just one job. Now, since the beginning of the year with Regulatory Reform by the way, we have about a million more people working fulltime, 400,000 fewer people working part time, that didnt happen last year under President Trump. Weve got about 600,000 more people working and theyre working fulltime jobs, thats a huge difference just from Regulatory Reform. In we can now amend obamacare, we can substantially repeal it and replace it and we can do tax reform. Whether he see job growth like we havent seen in the country since 80s or 90s, janet yellen is wrong, 3 growth is absolutely achievable and we are on a good course to get there. Stuart andy puzder, really good stuff, andy, thank you so much for joining us. I might add that the dow industrial is not exactly rocketing high, that would not be the case but we are up building on yesterdays record close. 21,556 as we speak. I want to repeat the news, Speaker Paul Ryan says if the Senate Delivers Health Care Plan the house will stay in session through the august recess. The senate plan includes additional 70 billion to help states lower premiums, we also know it includes obamacare taxes on the wealthy, they stay by the way and ted cruzs Consumer Protection amendment, that is in this new bill. Dr. Mark segal, we dragged him back so he can offer comment on this. He will be joining news a second. I want to talk about the funding for opioid addiction, im not sure treatment works and i will ask him about that but its in the new bill. We will be back. Good stuff. Stuart its getting excited sports fans, dow is high today because in part Health Care Reform. Extra 70 billion on top of 112 billion going to keep premiums down. 5 of americans use 50 to have health care, so when you add preexisting conditions, stuart, to the individual market and you try to charge everyone the same premium the way obamacare did, premiums soar up so you have to get noun bring them down, this will help allot. Stuart senator cruzs consumer amendment is in. That gives more choice to consumers. Love this. This will help with conservatives and gives the bill some chance, you know why, because youre a young person you dont have to buy the overbloated obamacaretype policy that covers everything and the kitchen sink. You have a chance to buy scaled down policy. The Insurance Company still has to offer the other policy to anyone with a preexisting condition. They cant just play to the people that pay that need less. You to keep both in there. I think this will work, actually and will bring premiums because, again, the reason premiums are soaring is because the policies are so overloaded. Stuart got it. 45billion for opioid addiction treatment. I dont think treatment works but you tell me. Look, it works with a lot of peer to peer counseling but high recidivism rate. The real problem with opioid, doctors overprescribing as we have said on this program. Medicaid recipients get twice as many opioid prescriptions so doctors are overprescribing opioid to medicaid patients and then we need to treatment programs that dont work so the 45 billion is a drop in the bucket and wont solve the problem. Stuart maybe will get the bill passed. Out of time, doc, thank you very much, indeed. Out dow industrials high of the day. More varney after this. Stuart it has been an exciting day in the news business. Item one, our american president , a missionary, off in europe, in paris to be precise. Number two, the dow industrials adding to yesterdays record close. Were pretty close to the high of the day at this moment, up another 30 points. Look at that level, 21,562. Finally breaking in the last 45 minutes, we have details of the new Republican Health plan in the senate. Looks like a compromise. Looks promising. Maybe that is why the dow is up another 30 points. What is a day. Neil, it is yours. Neil great show, my friend. Not be all, enall they come up with hope they can pass it. They can fix it, tinker with it. The assumption made all or nothing. They came back dozen times with obamacare. Stuart you can fiddle around with and perfect later. You have to do something now. Neil because they dont do something now, you can kiss Everything Else goodbye. I dont see any realistic tax cuts of any sort. Whatever money plan on expanding that farm, that is