He is coming on the tax on extreme wealth, he just unveiled last week. All of this is happening as marco rubio pending new foxbusiness. Com office saying socialism is entirely incompatible and america and the unique entrepreneurial spirit. Is rubio right with his offside and is sanders new plan taken away from americas new entrepreneurial spirit and the freedom to pay employees and executives what they want. It seems every week theres a new wealth tax by one of the candidates. This is about the third or fourth that Bernie Sanders has proposed. This is contrary to the whole idea of the American Dream if you succeed, you pay your taxes. Why should you have to pay a second, third, fourth tax. My feeling is, there are a lot of ceos that are way overpaid especially when the stock does not perform in the company does not perform. Though ceos should not be paid the high amount of overpaid. You know who should be policing that, not government, the shareholders of these companies. It is not hap
Also weighing on investors, continued protests in hong kong. All remaining flights today out of hong kong have been canceled, as demonstrators are occupying the airport there. It follows a violent weekend of protests, including clashes between demonstrators and police, beijing officials condemn the violence and linked violent protesters to terrorism. A bad sign. Also, low Interest Rates affecting the market. Check the tenyear yield. Its 1. 69 now. The other big story of the day, the death of Jeffrey Epstein. Were learning that epstein was not checked on for several hours leading up to his apparent suicide in his prison cell. Attorney general william barr is furious and says there will be a federal investigation. Theres a lot of news to go at today. You dont want to miss a moment of it. Varney company starting right now. David a quick look at stock futures and they have improved a little bit from where they were. Lets go right to susan li at the stock exchange. Whats the buzz, susan . S
Last quarter but not enough to move the stock. Its down right now, higher shipping costs hitting the bottom line and a lot more we will discuss there. Wait until you see what happened during my interview with senator Marsha Blackburn. Varney company is about to begin right now. This is what people want to see done, and i got to tell you, summertime it might be hot but people are pretty happy campers. Charles real quick, you mentioned are you okay . Yes. Charles oh, my goodness. You just never know whats going to happen on live tv. That was my interview with senator Marsha Blackburn from yesterday. A pretty rousing interview to say the least. Going to be a rousing start this morning also. We just got the latest read on the economy. I want to bring in David Mcintosh with club for growth. David, just your initial reaction to these gdp numbers which i should let the audience know, the official consensus was 1. 8 . The wall street whisper number was 1. 3 . Obviously significantly better tha
Overall, stocks are moving slightly higher ahead of the opening bell. Remember, this is a shortened day of trading because of the july 4th holiday. The market closes at 1 00 p. M. Eastern for the fourth of july. We are remembering an icon in the Business World. The ultimate salesman of all time, lee iacocca, has died at the age of 94. Hes best known as the father of the mustang and for saving the company chrysler. Well have much more on his impact throughout the morning. Varney company starts right now. David President Trump is changing the annual fourth of July Celebration in the Washington Mall thursday. It will include a flyover by military aircraft, more fireworks and the president will even give a speech of his own. The president is already tweeting about it. Quote, our july 4th salute to america at the Lincoln Memorial is looking to be really big. It will be the show of a lifetime. You can bet on that. Joining us is brad blakeman, former Deputy Assistant to george w. Bush, and so
I would love to talk i will talk about it. Theyre not taking away my First Amendment rights. Donald trump claiming earlier this week that no one is going to stop him from speaking about his criminal case. Today, judge Tanya Chutkan laid down the law and told trumps lawyer that trumps words will have consequences. And the First Amendment is not absolute. Plus, attorney general Merrick Garland appoints a Special Counsel to investigate hunter biden . And republicans are predictably complaining about it after spending months demanding exactly that. And good evening, everyone. Happy friday. Tonight was a big night for donald trump, who discovered that after all, at least to the criminal Justice System, he is no different from anyone else. Despite his fame and political prominence, he cant just publicly abuse witnesses because hes on the campaign trail. The judge who taught him that lesson today is named Tanya Chutkan. I have a bunch more to say on her in a bit, but we begin the reidout toni