Transcripts For FBC Varney Company 20240714 : comparemela.c

Yesterday. Perhaps the mine was removed have failed to detonate and the iranians wanted to get rid of evidence that they were behind the attacks. Mike pompeo said yes they were in this morning on fox the president said the attack have quote i read and written all over it. Despite what is happening in the oil patch. It remains at a depressed level. As we speak. Why do we give credit to americas oil glut. We run the show now. And oils at 52 per barrel. They had signed a letter opposing tariffs on china. They harm our economy. The president is losing some support. There is no certainty that a meeting with sheathing ping will take place. And look at this. The stock market shrugging it off. A minor loss of the opening bell. The most of the losses are with two stocks. So far we are not seen the big losses that mightve been expected with all of these problems all over the place. We are seeing us flight to safety. The yield of the ten year treasury is all the way down. That brings the yield down. You buy gold in times of trouble too. That is pushing gold prices this morning up to a 14 month high. It is a big friday show. It is the president s 73rd birthday today. Varney co. Is about to begin. Is a fascist statement. Fashion statement. A disgraceful statement. She is a nervous wreck. When nancy pelosi makes us mistake like that she should be disgraced. Probably one of the great criminal acts of alltime. That was the president on the phone this morning with fox and friends that was earlier this morning. The president committed an assault on our democracy. Katie mcinerney is with us now. Strong language from the president. Merited language. The president engaged in a coverup she said. I get she has that title but she is not. She is being run by other people. Just like they do for joe biden. Its not over. It is a bare knuckles fight. Youve had one goal since november 8, 2016. Takedown President Trump and trump and impeach him. Stuart another point here. Weve a letter from 600 corporations including walmart and some Tech Companies all asking President Trump to get rid of those tariffs on china. The reason im bringing this up is the president is losing some Corporate Support the key moment. Theres no doubt that President Trump has been great for the economy. They faced tariffs two thirds of the time. Topoftheline people say come on get rid of these tariffs on china. That is a really losing support for his whole position. I know the president knows how to be strategic. They averted the use of tariffs. The u. S. And california. Its a better deal. Thank you for being with us on a very important day. Fox news reporting that iran is the teen and the crew of one of those tankers that was there. Lucas, its yours. We have just learned that the pentagon now believes that the second oil tanker was obtained by the iranians yesterday. Here is a video of their norwegian owned oil tanker. The crew was first rescued by another vessel. They demanded the crew be turned over. The captain ultimately relented. The 23 crew members are now being held in iran its not clear what the next step is. They blamed them for the attack on both tankers. It is blamed on intelligence and the weapons used. In the fact that no proxy Group Operating in the area has the resources to act with such a high degree of sophistication. Late last night they released a new video saying what it claims to be a guard boat removing an unexploded mine from the other tanker. The japanese owned vessel. As the Prime Minister visits tehran. The Iranian Mission accuses them of a war mongering in the statement on thursday evening. They rejects the unfounded claim. And condemns it in the strongest possible terms. The u. S. Officials say rescued by the guided missile had been treated and returned to the ship. 20 of the worlds oil flows this way every year. It has been dispatched to an area to make sure that the area is safe for commercial shipping. Im going to interpret this as an escalation. Lucas, thank you for that report. Show me futures again. The market has just digested this. This is an escalation. The news has certainly broken and we have a mere 45 for the nasdaq okay. But that is a serious drop. Im glad youre here. We got trouble everywhere but very little response on the stock market how do you account for that. We are in a. Of positivity. You see that the retail Sales Numbers this morning people are feeling positive. Having Risk Management adjusted it is the appropriate way to see it. I looked at the news of the day and i thought we are going down. But no. As the economy that strong. The underlying economy is extremely strong. You have the fear that the fed would raise Interest Rates. I think in the midst of all this positivity. There is a reality that there are vulnerabilities in the market. The anxiety money is going into treasuries in gold. That is a flight to safety. Not at a stock. But into treasuries. I think a lot of that is because you have a situation now where you are very your very low inflation. You also have a situation where you have the democrats in the and the republicans both talking about modern monetary theory which means that you can bonner borrow as much money as you want and it doesnt necessarily mean anything. The democrats are talking about this a lot right now. So being in gold makes sense. Thats why weve seen some movement in the crypto currencies also. There is a reality that we have to prepare for the vulnerabilities in the midst of this positivity. But for the stock market youre still bullish longterm. A day. Thank you very much. By the way we got news from the crew of the norwegian tanker. It has made no difference to the stock market at all. Bernie sanders is going after him is on. Overland college order to pay 44 million to a baker that tried to run them out of business for fake racial profiling. I will repeat it after the break. Varney co. Is just getting started. Let me ask you something. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company when it comes to type 2 diabetes, are you thinking about your heart . Well, im managing my a1c, so i should be all set. Right. Actually, youre still at risk for a fatal heart attack or stroke. Even if im taking heart medicine, like statins or blood thinners . Yep thats why i asked my doctor what else i could do. She told me about jardiance. Thats right. Jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known Heart Disease. Thats why the American Diabetes association recommends the active ingredient in jardiance. And it lowers a1c . Yeah with diet and exercise. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening, bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, what do you think . Now i feel i can do more to go beyond lowering a1c. Ask your doctor about jardiance today. Stuart watch out stick chip makers. That stock is wildly lower. Its at 8 down. The warning of a slowdown in chip demand they blame the restrictions on the wild way. All of them down six or seven or 8 now. Thats also hitting the tao component apple. It is back to 191. We have big news from facebook. They are going to unveil their new crypto currency next week. And its already signed up some big backers. Its up to 5179. More on that breaking news out of iran. Fox news reports the iranians are dictating the detaining the crew of one of the oil tankers. The former state department official. This is what iran always says. They did so again with u. S. Citizens in beirut throughout the 1980s. Frankly, i share your surprise. Finally against iran. It really has been pushing an open door and getting away with too much for too long. Stuart what he think the retaliation might be. This is a maritime attack. With the capabilities and any spots we need to work with our allies in the middle east. Are we going to fire shots in anger whether its iranian boats or missiles or whatever. Will we fire shots in their direction with anger. I dont know if it suddenly can happen. But i think its more likely than not at this point the president is very clear in what happened. That there would be consequences. With the persian gulf. Its time for that to be made real. The price of oil is up a mere 15 cents and only 52 per barrel. This would not have happened without the glut of oil that america has produced. We are still vulnerable because we are a net exporter now. We still do import a fair amount of oil. Its no where near where it was in the 1970s. I use the word escalation when we talk about the detaining of the crew. Is that accurate. Is it an escalation or just as you said maybe just par for the course . I think its an escalation. It was something that was planned. The idea that some people were spreading it. This attack on shipping incidentally two of our treaty allies norway owns one of them. Those are treated allies. Its very direct. Very provocative against the United States. Just short of triggering a military response. As always thank you sir. We will see you again soon. There is a legal penalty for Overland College after they try to run a bakery out of business for fake racial profiling. Lets get to the money first. 11million against Overland College. And then 33 million in punitive damages for a whopping total of 44 million. He was confronted for shoplifting wine. Two other africanamerican students joined him and assaulted one of the bake remembers as he was trying to stop them from taking the wine. They later admitted to doing all of this by the way. But it sparked a protest outside the bakery the bakery was racist in profile. All of this was proven not true. It got so bad. The college tour guides talking to Prospective Students as part of the guide labeled the local bakery as a racist. They were almost put out of business. They now had 45 million. You have sent a profound message. All right. We heard you. I dont know if thats true or not. A good story there. We have escalation in the detention of the tanker in iran its no difference to the market. Amazon approaching a new lawsuit over at the echo voice assistant. They are being accused of illegally recording kids voices. We will have that story for you next. The Doctors Office might mejust for a shot. O but why go back there when you can stay home with neulasta® onpro . Strong chemo can put you at risk of serious infection. In a key study neulasta® reduced the risk of infection from 17 to 1 a 94 decrease. Neulasta® onpro is designed to deliver neulasta® the day after chemo and is used by most patients today. Neulasta® is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta® if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. If youd rather be home ask your doctor about neulasta® onpro. Pay no more than 5 per dose with copay card. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. The latest inisnt just a store. Ty its a save more with a new kind of Wireless Network store. Its a look what your wifi can do now store. A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Stuart look at amazon on new lawsuit claims that alexa is illegally recording kids without their parents consent. Lauren has the details. So many people have an alexa device in their home is recording what your child is saying and is keeping a recording of that these lawsuits state that that is not right, not only are you getting this information without our consent you are storing as well. This is what your life looks like. A look into your daily life. Obviously a privacy invasion. Its automatically recorded unless i take steps to opt out. It opt out. To give consent before recording. I think ashley and feta frilly we are in the direction. Why on earth are they recording in the first place so they can better Voice Recognition can get you the answers to the questions that you are answering. Asking. The big task same thing. They are installing them now when you buy a house. It comes on. Slightly lower right trouble everywhere. Back with wall street after this. Stuart i need an explanation the price of oil is what 52 a barrel up a mere 14 cents that on a date with huge escalation in the gulf. Come on in their oil market analyst. We are a show me country. Escalation things get worse. At the moment is at 52 a barrel. Youve a gallon of milk in the refrigerator for three or four days. And we coulds gone. And thats what we can work with right now. We cant work with the assumption we have to worry about what happened. We will take that analogy. We appreciate it. The price of oil is still 52 a barrel. We do not had any significant loss. Its a 30 points in the very early going. A fraction of 1 . Have all the s p a s p lets see that please. The nasdaq is down a bit more in percentage terms that the law nearly a half percent. Ten year treasury yield 2. 1 percent. This is a 14 month high here at 1351. I had used this expression before travel trouble everywhere but that stock market is shrugging off. The strength of the domestic economy. We just saw solid retail sales in may. I think the big uptick in terms of the april retail sales. Unemployment 50 year low people have the jobs they are spending what is there to know. Also a pickup in Consumer Spending headed into the quarter. Strong retail sales. They have a setback we picked up again in may. We are seeing a re acceleration possibly. As an enemy that Second Quarter numbers begin to trade up a little bit. Where else do we go. With incredibly low rates around the world. Think about the tenth thousands of institutions that had to five, 67 annual returns to meet their obligations where they can go. Theyre gonna can go to the stock markets. I will show you a group of stocks that sharply lower. Runtime is down to one half intel is down 2 . It is all about the trade war with china. And restrictions on wild way. Would you buy the dip and chips. In terms of what has a great longterm appeal is the tailwinds behind. The internet of things. The other time is driving artificial intelligence. That is augment drive demand lower but certainly in the nearterm they are to be held hostage to the negotiations with china. I think the big house of the Global Economy. If we resolve the trade dispute is a Global Economy start moving up. We know that smart phone demand has been coming down. We know that theres been a be in demand deterioration because of slower iphone sales. I think its been expected with higher inventory of us. Why go there. There are a lot of sectors that you dont have to go have on into the trade war with china that is a little bit like looking for trouble right now. The market was shrugging off all the trouble around the world. Missed on one third of 1 . You bailed out my analogy. Thank you very much indeed. 600 retailers all together warning president about terrace on china see that as 600 Big Companies were moving their support from the president for his trade with china now what their signaling to is this be showing up in crisis a lot of companies had swallowed some of the terrace costs. Weve seen the heads of some of these Big Companies just trying to suggest that that i can do that. They cannot swallow the terrace. Lets remember a little bit these are the companies that got us into this situation in the first place. These are the companies that outsourced to china. That this was the way the risk and build their bottom line should somebody maybe paper this a little bit the fact that 20 years were too late and force the concessions from china. These are the companies that had to help him make this happen. They sent a letter which i have here terrace hurt the heartland. They say at the bottom we really believe in what youre doing to level the Playing Field but we have to get resolved sooner rather than later. They make me trying to get together on this. It seems very undermining. Maybe thats what some other trouble thats of the trouble thats taking it down 90 points. That is a huge loss by any means. Its barely above 26,000. A couple of individual stocks lets take a look. China has lost inquiry. Fedex is down 1 thats it. Southwest airlines. Because of the max jet grounding. I still have not bought the stock. I missed my chance. Struggling to 44 per share. Still below the ipo offering price. See what our people think here. Theyre planning to unveil the new crypto currency next week among them. You dont like this. I think facebook of all companies has had such privacy issues and Data Protection issues. The idea that there can be the company that really makes presley that the platform. But with 2. 4 million users with all of these companies signing on. This is a company that can make this happen without a doubt. Now that we had block chief President Trump<\/a> and trump and impeach him. Stuart another point here. Weve a letter from 600 corporations including walmart and some Tech Companies<\/a> all asking President Trump<\/a> to get rid of those tariffs on china. The reason im bringing this up is the president is losing some Corporate Support<\/a> the key moment. Theres no doubt that President Trump<\/a> has been great for the economy. They faced tariffs two thirds of the time. Topoftheline people say come on get rid of these tariffs on china. That is a really losing support for his whole position. I know the president knows how to be strategic. They averted the use of tariffs. The u. S. And california. Its a better deal. Thank you for being with us on a very important day. Fox news reporting that iran is the teen and the crew of one of those tankers that was there. Lucas, its yours. We have just learned that the pentagon now believes that the second oil tanker was obtained by the iranians yesterday. Here is a video of their norwegian owned oil tanker. The crew was first rescued by another vessel. They demanded the crew be turned over. The captain ultimately relented. The 23 crew members are now being held in iran its not clear what the next step is. They blamed them for the attack on both tankers. It is blamed on intelligence and the weapons used. In the fact that no proxy Group Operating<\/a> in the area has the resources to act with such a high degree of sophistication. Late last night they released a new video saying what it claims to be a guard boat removing an unexploded mine from the other tanker. The japanese owned vessel. As the Prime Minister<\/a> visits tehran. The Iranian Mission<\/a> accuses them of a war mongering in the statement on thursday evening. They rejects the unfounded claim. And condemns it in the strongest possible terms. The u. S. Officials say rescued by the guided missile had been treated and returned to the ship. 20 of the worlds oil flows this way every year. It has been dispatched to an area to make sure that the area is safe for commercial shipping. Im going to interpret this as an escalation. Lucas, thank you for that report. Show me futures again. The market has just digested this. This is an escalation. The news has certainly broken and we have a mere 45 for the nasdaq okay. But that is a serious drop. Im glad youre here. We got trouble everywhere but very little response on the stock market how do you account for that. We are in a. Of positivity. You see that the retail Sales Numbers<\/a> this morning people are feeling positive. Having Risk Management<\/a> adjusted it is the appropriate way to see it. I looked at the news of the day and i thought we are going down. But no. As the economy that strong. The underlying economy is extremely strong. You have the fear that the fed would raise Interest Rates<\/a>. I think in the midst of all this positivity. There is a reality that there are vulnerabilities in the market. The anxiety money is going into treasuries in gold. That is a flight to safety. Not at a stock. But into treasuries. I think a lot of that is because you have a situation now where you are very your very low inflation. You also have a situation where you have the democrats in the and the republicans both talking about modern monetary theory which means that you can bonner borrow as much money as you want and it doesnt necessarily mean anything. The democrats are talking about this a lot right now. So being in gold makes sense. Thats why weve seen some movement in the crypto currencies also. There is a reality that we have to prepare for the vulnerabilities in the midst of this positivity. But for the stock market youre still bullish longterm. A day. Thank you very much. By the way we got news from the crew of the norwegian tanker. It has made no difference to the stock market at all. Bernie sanders is going after him is on. Overland college order to pay 44 million to a baker that tried to run them out of business for fake racial profiling. I will repeat it after the break. Varney co. Is just getting started. Let me ask you something. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company when it comes to type 2 diabetes, are you thinking about your heart . Well, im managing my a1c, so i should be all set. Right. Actually, youre still at risk for a fatal heart attack or stroke. Even if im taking heart medicine, like statins or blood thinners . Yep thats why i asked my doctor what else i could do. She told me about jardiance. Thats right. Jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known Heart Disease<\/a>. Thats why the American Diabetes<\/a> association recommends the active ingredient in jardiance. And it lowers a1c . Yeah with diet and exercise. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening, bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, what do you think . Now i feel i can do more to go beyond lowering a1c. Ask your doctor about jardiance today. Stuart watch out stick chip makers. That stock is wildly lower. Its at 8 down. The warning of a slowdown in chip demand they blame the restrictions on the wild way. All of them down six or seven or 8 now. Thats also hitting the tao component apple. It is back to 191. We have big news from facebook. They are going to unveil their new crypto currency next week. And its already signed up some big backers. Its up to 5179. More on that breaking news out of iran. Fox news reports the iranians are dictating the detaining the crew of one of the oil tankers. The former state department official. This is what iran always says. They did so again with u. S. Citizens in beirut throughout the 1980s. Frankly, i share your surprise. Finally against iran. It really has been pushing an open door and getting away with too much for too long. Stuart what he think the retaliation might be. This is a maritime attack. With the capabilities and any spots we need to work with our allies in the middle east. Are we going to fire shots in anger whether its iranian boats or missiles or whatever. Will we fire shots in their direction with anger. I dont know if it suddenly can happen. But i think its more likely than not at this point the president is very clear in what happened. That there would be consequences. With the persian gulf. Its time for that to be made real. The price of oil is up a mere 15 cents and only 52 per barrel. This would not have happened without the glut of oil that america has produced. We are still vulnerable because we are a net exporter now. We still do import a fair amount of oil. Its no where near where it was in the 1970s. I use the word escalation when we talk about the detaining of the crew. Is that accurate. Is it an escalation or just as you said maybe just par for the course . I think its an escalation. It was something that was planned. The idea that some people were spreading it. This attack on shipping incidentally two of our treaty allies norway owns one of them. Those are treated allies. Its very direct. Very provocative against the United States<\/a>. Just short of triggering a military response. As always thank you sir. We will see you again soon. There is a legal penalty for Overland College<\/a> after they try to run a bakery out of business for fake racial profiling. Lets get to the money first. 11million against Overland College<\/a>. And then 33 million in punitive damages for a whopping total of 44 million. He was confronted for shoplifting wine. Two other africanamerican students joined him and assaulted one of the bake remembers as he was trying to stop them from taking the wine. They later admitted to doing all of this by the way. But it sparked a protest outside the bakery the bakery was racist in profile. All of this was proven not true. It got so bad. The college tour guides talking to Prospective Students<\/a> as part of the guide labeled the local bakery as a racist. They were almost put out of business. They now had 45 million. You have sent a profound message. All right. We heard you. I dont know if thats true or not. A good story there. We have escalation in the detention of the tanker in iran its no difference to the market. Amazon approaching a new lawsuit over at the echo voice assistant. They are being accused of illegally recording kids voices. We will have that story for you next. The Doctors Office<\/a> might mejust for a shot. O but why go back there when you can stay home with neulasta\u00ae onpro . Strong chemo can put you at risk of serious infection. In a key study neulasta\u00ae reduced the risk of infection from 17 to 1 a 94 decrease. Neulasta\u00ae onpro is designed to deliver neulasta\u00ae the day after chemo and is used by most patients today. Neulasta\u00ae is for certain Cancer Patients<\/a> receiving strong chemotherapy. Do not take neulasta\u00ae if youre allergic to it or Neupogen Filgrastim<\/a> . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. If youd rather be home ask your doctor about neulasta\u00ae onpro. Pay no more than 5 per dose with copay card. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. The latest inisnt just a store. Ty its a save more with a new kind of Wireless Network<\/a> store. Its a look what your wifi can do now store. A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Stuart look at amazon on new lawsuit claims that alexa is illegally recording kids without their parents consent. Lauren has the details. So many people have an alexa device in their home is recording what your child is saying and is keeping a recording of that these lawsuits state that that is not right, not only are you getting this information without our consent you are storing as well. This is what your life looks like. A look into your daily life. Obviously a privacy invasion. Its automatically recorded unless i take steps to opt out. It opt out. To give consent before recording. I think ashley and feta frilly we are in the direction. Why on earth are they recording in the first place so they can better Voice Recognition<\/a> can get you the answers to the questions that you are answering. Asking. The big task same thing. They are installing them now when you buy a house. It comes on. Slightly lower right trouble everywhere. Back with wall street after this. Stuart i need an explanation the price of oil is what 52 a barrel up a mere 14 cents that on a date with huge escalation in the gulf. Come on in their oil market analyst. We are a show me country. Escalation things get worse. At the moment is at 52 a barrel. Youve a gallon of milk in the refrigerator for three or four days. And we coulds gone. And thats what we can work with right now. We cant work with the assumption we have to worry about what happened. We will take that analogy. We appreciate it. The price of oil is still 52 a barrel. We do not had any significant loss. Its a 30 points in the very early going. A fraction of 1 . Have all the s p a s p lets see that please. The nasdaq is down a bit more in percentage terms that the law nearly a half percent. Ten year treasury yield 2. 1 percent. This is a 14 month high here at 1351. I had used this expression before travel trouble everywhere but that stock market is shrugging off. The strength of the domestic economy. We just saw solid retail sales in may. I think the big uptick in terms of the april retail sales. Unemployment 50 year low people have the jobs they are spending what is there to know. Also a pickup in Consumer Spending<\/a> headed into the quarter. Strong retail sales. They have a setback we picked up again in may. We are seeing a re acceleration possibly. As an enemy that Second Quarter<\/a> numbers begin to trade up a little bit. Where else do we go. With incredibly low rates around the world. Think about the tenth thousands of institutions that had to five, 67 annual returns to meet their obligations where they can go. Theyre gonna can go to the stock markets. I will show you a group of stocks that sharply lower. Runtime is down to one half intel is down 2 . It is all about the trade war with china. And restrictions on wild way. Would you buy the dip and chips. In terms of what has a great longterm appeal is the tailwinds behind. The internet of things. The other time is driving artificial intelligence. That is augment drive demand lower but certainly in the nearterm they are to be held hostage to the negotiations with china. I think the big house of the Global Economy<\/a>. If we resolve the trade dispute is a Global Economy<\/a> start moving up. We know that smart phone demand has been coming down. We know that theres been a be in demand deterioration because of slower iphone sales. I think its been expected with higher inventory of us. Why go there. There are a lot of sectors that you dont have to go have on into the trade war with china that is a little bit like looking for trouble right now. The market was shrugging off all the trouble around the world. Missed on one third of 1 . You bailed out my analogy. Thank you very much indeed. 600 retailers all together warning president about terrace on china see that as 600 Big Companies<\/a> were moving their support from the president for his trade with china now what their signaling to is this be showing up in crisis a lot of companies had swallowed some of the terrace costs. Weve seen the heads of some of these Big Companies<\/a> just trying to suggest that that i can do that. They cannot swallow the terrace. Lets remember a little bit these are the companies that got us into this situation in the first place. These are the companies that outsourced to china. That this was the way the risk and build their bottom line should somebody maybe paper this a little bit the fact that 20 years were too late and force the concessions from china. These are the companies that had to help him make this happen. They sent a letter which i have here terrace hurt the heartland. They say at the bottom we really believe in what youre doing to level the Playing Field<\/a> but we have to get resolved sooner rather than later. They make me trying to get together on this. It seems very undermining. Maybe thats what some other trouble thats of the trouble thats taking it down 90 points. That is a huge loss by any means. Its barely above 26,000. A couple of individual stocks lets take a look. China has lost inquiry. Fedex is down 1 thats it. Southwest airlines. Because of the max jet grounding. I still have not bought the stock. I missed my chance. Struggling to 44 per share. Still below the ipo offering price. See what our people think here. Theyre planning to unveil the new crypto currency next week among them. You dont like this. I think facebook of all companies has had such privacy issues and Data Protection<\/a> issues. The idea that there can be the company that really makes presley that the platform. But with 2. 4 million users with all of these companies signing on. This is a company that can make this happen without a doubt. Now that we had block chief Technology Potential<\/a> is there to have a currency which is free of any one country or Credit Card Company<\/a> raises more questions than answers. Our governments can try to crackdown on it. I know we have had big backers here. If it can take the currency nexgen is going to be a Payment System<\/a> very much like the chat we see the deal a great idea. I think what advantage crypto currency. Why not just pay we have. Block chain technology. Crypto currency is a little bit different. Its like a basket. So there is less volatility. They are terrified that facebook which is more than any of them have i assume. Its can been a lot some kind of Payment System<\/a>. Basically wipes out. When you have facebook all of these Big Companies<\/a> buying in maybe it becomes more mainstream. The last word. Are you allowing them to come in to check it out. They have a big decision. I think its iteration. You can just look at this now. I will not Facebook Stock<\/a> ive got to wrap this up. You see the atomic clock right there. Thank you very much. Check out the big board. It has been exactly two years since the gunman opened fire on steve scullys and republican lawmakers. They are opening up about the shooting in a new book. And he is going to join us in our studio. Sarah sanders they should follow in the dads footsteps. What does her dad think about this. My experience with usaa has been excellent. They really appreciate the military family and it really shows. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. It was funny because when we would call another insurance company, hey would say oh we cant beat usaa were the webber family. Were the tenneys were the hayles, and were usaa members for life. Get your usaa Auto Insurance<\/a> quote today. The exus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. Stuart we are down 88 points. Thats exactly one third of 1 and then there is this. Sarah Huckabee Sanders<\/a> is leaving her post after more than three years in a very tough job. Heres President Trump<\/a> making the announcement. We had been through a lot together. And shes tough shes can be leaving the service of her country and shes going to be going private sector i hope she is going to arkansas a great state. If we can get her to run for the governor of arkansas i think she would do very well. The president is trying to get her to run for the governorship of arkansas. Leslie and sarahs dad who was the former governor of the great state of arkansas so tell us dad. Is your daughter get a run for governor. The president kind of pushed her out there like bumping her out of the nest if she does she will have a great time. Held previously by you and bill clinton. Its a most difficult job in the world. And she did it very well. Its been hard for her to make the decision. A book that disparages the president that she has such Great Respect<\/a> for. She adores him and his whole family because of the manner in which she has been treated. The people who say think about President Trump<\/a> or his family they dont know the president like sarah does because she is probably with him them more than anybody else. Her respect is profound. Some extraordinary level of attack personal attack did she ever break . Amazingly she is probably one of the most unflappable people i know. If she were to run and when governorship she would go back to a Governors Mansion<\/a> that she basically grew up in. There she saw how brittle politics can be. So it never was a shock. One thing she has its a great quality is she doesnt take things personally. That is a remarkable trait that most people even those in politics never developed to the level that she has. It would not roll off me. Its fathers day on sunday congratulations dad you must be a very proud man with a daughter like that. And may i add my own enthusiasm i did once have dinner sitting next to her in the white house. And she was charming and elegant and poised. I will leave it at that. I would be a bad dad if i didnt also say just as proud of my two sons. They are so happy they are not in the spotlight like she is but they also take credit for her toughness. The way they treated her as mean older brothers that gave her a thick skin they did all kinds of cruel things. Shows she got tough early on in life. Working to leave it right there. Governor, thank you for joining us. Congratulations on your daughter. The raptors one of their first nba championship. The waiters suffered warrior suffered a big loss however. Clay thompson tore his acl. After Kevin Durrant<\/a> ruptured his achilles tendon. Lets get to soccer. Why not. You dont forget to watch continuing coverage of the womens world cup its on fox. Team usa claims places next day and it is on fox. Trouble everywhere. We dont have much of a loss. President trump telling fox and friends. Which candidate he would like to face in 2020. Next hour we will talk to one of the president s top campaigners which candidate does she think will be the easiest to beat. That is a good question. Lets take a look at some numbers 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease<\/a> . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology<\/a> to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Stuart what we talk a lot about e sports. And weve a news we the news item on that. Super super league gaming. They brought frame weight. Thats wait. Thats a social media platform. I want to know more about this. You are pure play in games. These are the immature markets. We can create life event experience. One of the sash social media graphics. They were able to celebrate these graphics. What on earth does a frame wait. They were also a content platform. One thing that is really unusual about gaming is that thirst for everyday imagers thats how you learned that its entertaining. Being that fastestgrowing platform. Is it like twitch . Yes it is a live stream. So when we are running our big tournaments we are Live Streaming<\/a> of the amateurs in the game itself. They give us their highlight reels. It is the afterglow. How many gamers do you head on your platform. With a few hundred thousand active gamers. More importantly one player equals company viewers. 25million views. I remember when gaming was you bought a disk. Or you went to the arcade. And then it was all downloading. But now forget all of that is streaming am i right . More and more is being pushed into the cloud. Thats what a lot of the topics are. It means less for us. Why it is a good thing for super league. It democratizes competitive gaming. It used to be that you have to invest in a lot of hardware. More that that activity happens in the cloud. It means the cost of the hardware can come down. It really allows more and more people to compete in competitive gaming experiences. Its all good things. There is a lot going on up there. The last time i was here i told you i know your classy man i told you i was going to get you in an e sports jersey. And i wanted you to know that not only do you not had your jersey. We have to pick your gamer idaho name. I kept it classy your burning man varney man. Just remember you can buy some stock. This is real sports. If youre not careful youll be back. Think you. Check the big board we are down a hundred points. Hundred points. I will leave it at that. Its having some impact. Done 104 to be precise. Democrats in blue states. They are proposing all kinds of new taxes. Its not just the rich that will feel the pain. My take on that is next. I have Heart Disease<\/a>, watch what i eat, take statins, but still struggle to lower my ldl bad cholesterol. Which means a heart attack or stroke. Could strike without warning, pulling me away from everything that matters most. siren because with high bad cholesterol, my risk of a heart attack or stroke is real. Repatha\u00ae plus a statin seriously lowers bad cholesterol by 63 . And significantly drops my risk of having a heart attack or stroke. Do not take repatha\u00ae if you are allergic to it. Repatha\u00ae can cause serious allergic reactions. Signs include trouble breathing or swallowing, or swelling of the face. Most common side effects include runny nose, sore throat, common cold symptoms, flu or flulike symptoms back pain, high blood sugar, and redness, pain, or bruising at the injection site. I wont let a heart attack or stroke come between me and everything i love. Neither should you. Tell your doctor to lower your ldl and reduce your risk with repatha\u00ae. Pay no more than 5 per month with the repatha\u00ae copay card. Stuart you think the democrats just want to tax the rich . Think again. In connecticut, illinois, and elsewhere they are raising taxes all across the board. Not just on income, but on just about everything, everyone will pay more and they are doing it so they can pay the pensions of retired state workers. Everyone will have to pay for the democrat giveaways and vote buying of the past, what a mess. First of all, connecticut, tax hikes or new taxes on the following, highend homes, ecigarettes, prepared meals, alcohol, vehicle tradeins, parking, laundry services, interior design and work safety clothing, all the people in connecticut, rich and poor and in between buy those products and they use those services and they will all be paying more, no wonder 50 people a day leave the state. Its an exodus that can only grow. All right, how about illinois . Thoroughly democrat state in chronic debt. Come on, thats why they are in debt. The left always caves to the demands of state workers, thats how they get elected. Governor jay wants to raise the state income tax, not just the rich who are going to pay more, the middle class takes a hit on this income tax hike. Now, here is some just some of the 18 other tax hikes and extra fees that everyone in illinois will pay. Here we go. Cigarettes and ecigarettes, sports gambling, gasoline, alcohol, parking, streaming, vehicle registration, video gambling, ridesharing and real estate transfers, you get the point, everyone pays, no wonder people and businesses are leaving in droves. Joe biden, Bernie Sanders<\/a>, elizabeth warren, the leading democrat contenders all say tax the rich, thats all we need to do to get to the promise land, dont be fooled. At the state level in connecticut, illinois, new jersey, new york and all the other democrat everyone pays and the exodus has only just begun, the second hour of Varney Company<\/a> is about to begin. Stuart all right, 98point loss on the dow, Economic Data<\/a> just coming, lets see if this moves the market. Ashley half percent, lets put it that way, exactly what was expected, up from flat in april, more inventory on hand, meaning less sales and pace of sales has soared as compared to march, a little bit of slowing on the sector. Stuart reaction on the market there, maybe. We are down 100 points, 98 points, we will take that. Not Much Movement<\/a> there. I want to get to editorial, joins me now. Hey. Stuart i thought it was important to put that on the air because a lot of people are fooled, we will just tax the rich. That simply isnt true. Even as the definition of who is rich changes because of rhetoric that places people who maybe dont use uber as poor, maybe theres funny kind of spin that happens, its almost if you live in a certain zip code or arent living in a certain zip code, the more people in government and in those units, the Party Leadership<\/a> is able to redistribute funds and becomes vicious cycle, you see what happens in california, cuba, theres a point where people who really dont want to be in that system thank goodness in the country you can leave the state you live in and you will leave and that leaves People Holding<\/a> a bag that they should have never been holding in the first place. Stuart its important to know that you will pay extra if you live in the states, hold on a second, earlier this morning President Trump<\/a> and on fox friends, i want you to listen to what he said about spying on his 2016 campaign, roll that tape please. They spied on my campaign, they got spot, whether its the insurance policy in case Hillary Clinton<\/a> loses or insurance policy essentially saying to take him out, this is probably the worst or certainly one of the worst political scandals in the history of our country. Stuart we will get to hear more about the scandal, the clintons and 2016. That will come out pretty soon. This also explains the reaction from the left and democrats to his victory wasnt that they were upset that they lost, they knew that he would eventually see this and cabinet would learn it and that his attorney general would deal with it, now, of course attorney general barr, things that you got away in the past, they dont just do it suddenly, its a pattern of behavior and theyve had individual who is apparently were having no problem with it or were willing to look away. They knew suddenly they had a man in the white house who would care about this and expose it and they would finally be held accountable, that explains, when you look at the nature of the panic which is not about losing, people have lost races all of the time, you didnt see h th from hillary in 2008. This is different, the president is correct, Extraordinary Development<\/a> and its almost a little too frightening to think about it. Its like the sun, you dont want to look at it right directly in the sun because you might go blind. In this case we must and we have a president and infrastructure and the American People<\/a> can handle it and its important because it will never end and eventually be something that we cant even manage. We go as far as we can to eradicate this kind of behavior which obviously is that multiple levels and will need to find it. Stuart tammy bruce, thank you very much for joining us. Enjoy that weekend. Check the yield, Interest Rates<\/a>, look at it down. 2. 08 , flight to safety of treasuries as you got trouble around the world and trouble in various parts. 2. 08 treasury. David, strikes me as Interest Rates<\/a> like on 10year treasury go down, the dividend yield on the stocks that you like get more and more attractive, right . Its funny it strikes me that way because it strikes me that way, my friend. Its absolutely true. Now, i would argue that the 10year yield was 3. 5 it wouldnt change the fact on relative basis that the dividends with growth through time and upside of the stocks is more attractive, but youre right, on relative basis the 10year being that low, really highlights especially for income investors the opportunity and dividend growth. Stuart you can get very, very wellknown companies, im thinking of at t for a moment which yield 4, 5, 6 , at t yields over 6 at the moment, i think the yield is pretty safe, am i right . I dont agree on at t, i agree with you theres a lot of companies that are but real quickly on at t, they are sitting at 250 billion of debt when you count pension obligations and leases, one of the most Indebted Companies<\/a> in history and so we sold at t, they are not growing their dividend, thats not what we want is companies that are growing, verizon is one that dividend is safe and continue growing it. We talk all of the time, a lot of Great Companies<\/a> like that. Stuart got it. This may be outside your bailey wick, they have big backers, visa, master card, paypal, all involved in this move crypto currency on the facebook 2 and a half billion person platform. Seems to me like a very smart move, what do you say . Well, youre right, Big Companies<\/a>, theyve gotten involved in this consortium but they are putting in 10 million with an m, facebook is 516 milliondollar company, investment is very small, i have no idea where it goes, the whole thing is outside as you said what we generally do but in my reading of this, looks to me like what the companies do, they dabble with things on the side and certainly doesnt strike me as any needlemoving event. Stuart you shot me down. I thought it was a pretty good deal and the stock is up 3 points, but okay, shoot me down, if thats what you want to do, thank you very much. David, come back soon, see you again, okay. Yes, sir. Stuart we did hear from the president on fox friends, on fox news this morning, he says there are only 3 democrat challengers that he cares about, i guess thats what hes saying, laura trump, his daughterinlaw is on the campaign, we will ask which democrat she wants to go up against. Cbd, doesnt get you high, available at kroger stores, farms, make cbd product on the show, their ceo on with us next. And the warriors, well, they lost the raptors in last nights nba finals, Klay Thompson<\/a> out with acl injury another blow after kevin durant injured aquiles tendon in game 5. We will get into that with nba agent which has been in for decades, hour two just started. So, jardiance asks. When it comes to type 2 diabetes, are you thinking about your heart . Well, im managing my a1c, so i should be all set. Right. Actually, youre still at risk for a fatal heart attack or stroke. Even if im taking heart medicine, like statins or blood thinners . Yep thats why i asked my doctor what else i could do. She told me about jardiance. Thats right. Jardiance significantly reduces the risk of dying from a cardiovascular event for adults who have type 2 diabetes and known Heart Disease<\/a>. Thats why the American Diabetes<\/a> association recommends the active ingredient in jardiance. And it lowers a1c . Yeah with diet and exercise. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening, bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, what do you think . Now i feel i can do more to go beyond lowering a1c. Ask your doctor about jardiance today. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Stuart i want to go straight to u. S. Open on pebble beach, did i see tiger woods and bruce right behind you moments ago . Yes, you did, my friend. I will take you right to the money shot, look over my shoulder, here is tiger woods, blue sweater, blue cap, hes pitching, he just putted, hes practicing, hes getting ready for round 2. Yesterday tiger finished 5 behind the leader, justin rose, they were in the same group, what was interesting is that rose tied the record for lowest round in u. S. Open history at 6 under 65. Tiger had set the record initially, he will try to come back today, it was a great round yesterday, lots of expectations are high for today, let me tell you whats going on right here, players getting ready for round 2, ian on my left, Jordan Spieth<\/a> expected here moments, tony coming in blue jacket and the flowery cap there. They are all practicing. They pick up their balls, catty does, big area over here where they are out with their irons and their drivers and their practicing away as you can see bruce kepka was down here on the left, you can see the names bigger, you can watch practice shots on the screen over here. The Technology Shows<\/a> exactly where their pits come from, where they fly to and where they land as you can see. Stuart, back to you. Stuart i admire your golf voice, you have to almost whisper. Very good. Gerri, back to you later. I want to tell our viewers that you can watch u. S. Open all weekend on the fox networks and you can stream it live on foxsports. Com. Also exclusively on fox continuing coverage of womens world cup, next game for team usa is sunday, they are playing chile, catch that at noon eastern time, of course, on fox. Now, this, veritax farms which makes cbd, cbd the stuff in marijuana that doesnt get you high, alexander, welcome to the program. Thank you for having me, stuart. Stuart youre supplying the cbd going into kroger, what kind of products can i buy that have cbd in then . Currently topicals which means creme lotions, lip balms, we also have massage oils, different various products. Stuart now at the moment i understand you got revenue of 1 and a half Million Dollars<\/a> for your company, what do you expect to grow that to in the future . Sure, that was for our First Quarter<\/a> of 2019. We are expecting doubling those revenue numbers per quarter for the remaining of 2019. Stuart is that because you have kroger on board . Well, thats because not only kroger on board but we are working with major bigbox chain, drug chains and retailers all over the country and so we are also adding Companies Like<\/a> cvs and other major retailers. Cbd comes from hemp. Thats correct. You get cbd from it. Now, im thinking of when thc, marijuana, pot, when thats legally recreational across the country if it ever is, you cant easily just switch to producing bud and flower as its called and thc can you because it comes from a different plant, right . Well, that is correct. Its a different strain of the plant whether it would be provided. We are concentrating on the wellness side of it, you know, obviously like you said whether or not marijuana ever gets passed federally, i see more of recreational side of it. We are providing consumers a healthy alternative to what is out there. Stuart is there any proof that cbd works as an antiinflammatory . Well, apparently under the Regulatory Environment<\/a> i cannot get into that but you can certainly theres a lot of information out there thats been research has been done outside of u. S. And you can go in articles that are found in through the internet that can give you that information currently. Stuart okay, alexander, thank you very much for joining us, we are interested in the whole subject. A lot of people dont understand it but thanks for being was and telling us how it all works, Alexander Salgado<\/a> veritas farms. President trump spoke to fox friends this morning and issued warning to iran, the president says hes going to stop them. James carafano, policy guys, Trump Administration<\/a> is the steady leadership that the world needs to respond to iran, hes on the show a little later this hour. Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Stuart yes, they did it, the raptors won first nba championship last night, they beat golden state warriors, Klay Thompson<\/a> tore alc last night, kevin durant tore achilles, they are free agents and we are expecting big contracts, we better bring an agent, keith glass is with us, hes been agent with the nba for 30 years, you are keith glass . I am. Stuart youre sitting right next to me . That question i can answer. [laughter] stuart kevin durant, thats a serious injury, does he still get 200 milliondollar contract . I think he does and you have to understand something else. He is a free agent but he has another year on his contract at his option. Its 31 million. He can opt into that account with this injury for one more year, make 31 million extensively to rehab and then he will be free again, the issue with that is hell be 32 by the time hes ready to play again and in nba terms with torn achilles, thats not an optimum situation to be in. Stuart its not, he could be out for a year. Let me say this, youre talking about 2 or 3 players that are extraordinary players, kevin durant is not a normal player, kwaid leonard is not a normal free agent, these are great players. Theyll be a market for them. Stuart kwaid lewis the mvp. Tremendous player, he put the country on his back and they won their first nba title. Stuart what kind of a deal is he looking for . Here is the rules, if you stay with your existing team, you can make about 50 million more, because youre allowed an extra increase and youre allowed extra year. So if kwaid stays, if kevin durant stay, if klay stays they can get around 200 million, if they were to leave, they would get only 150 million and then we would all chip in and help them out for the remaining. Thats how we do it. Stuart 200 milliondollar contract. Yeah. Stuart over how many years . 5. The raptors fans will have to come to grips with their 11. 50 hot dog may go to 13. Thats how they do it. Im just kidding but the way this works, the nba is based on a thing called bri, bri is basketballrelated income. Anything that has to do with, you know, maybe former singers who are important to get, hot dogs, ticket sales, mostly tv revenue lumped in to basketballrelated income and split 51 49 between the players and the teams. Stuart thanks for explaining. I do the best i can. Stuart nothing about this. Now i know a little. I appreciate it. Come again. Good information, okay. Maybe all i know. Stuart no, no, thanks very much. Ive got this to report for you, more than 600 companies sent letter to the president telling him, hey, solve the trade dispute with china, get rid of those tariffs, they say the tariff pain is not worth any gain, how will the president respond to that . Laura trump, his do you remember coming up on the show to respond to that and the breaking headline on iran, the military says they are detaining the crude iranians are detaining crude on one of the tankers, how are we going to respond . More varney after this. What do you look for when you trade . I want free access to research. Yep, td ameritrades got that. Free access to every platform. Yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. No hidden fees. No platform fees. No trade minimums. And yes, its all at one low price. Td ameritrade. Stuart yes, thank you. They are playing the song that ive requested. I have class, ladies and gentlemen, i have class. My name on it, by goalie, i get the beatles song i want. I like this one. Stuart youve never heard of it before. All right, moving on. Chewy is a pet online pet supply company, they go public today. Jackie is with us in new york stock exchange, is this going to be a blowout. Stuart, looks like we are setting up for a blowout, current indication that is this will price at 35 a share, price last night opened the first trade will be at that range, priced last night at 22, huge pop there. Chwy, a company that sells online pet goods, food and other products, has pretty good market share, 55 of overall pet food sales, has got about 35 of pet supplies overall as well, 70 billiondollar market for pet goods out there, so a lot of folks are excited by this. Jpmorgan is running the book on this one and, you know, weve watched a lot of ipos this year, we watched uber, lyft, pinterest, one interesting note, people excited by the financials of this company, in 2018 revenues were 3 and a half billion dollars, it did report loss of 267 million but that was less than year before and forecast to be less this year, this is a company that looks like it has solid fundamentals and could be worthy of that 35dollar opening trade, we will be watching for it, stuart. Stuart 250 milliondollar loss and the thing will spike on ipo. [laughter] stuart true. Better than a billion dollar loss. Jackie, we will come back to you for the first trade, thank you very much, indeed. Okay. Stuart however going the other way, chip maker are going down, broadcomm will take a hit because of ban on huawei products, what more did they say . The first of many, thats the expectation on the market, we have the semiconns and today broadcomm being the first, they are going to take 2 billiondollar hit from the huawei ban, not a lot, 4 and a half percent of revenue, but yes. Thats right. Down 18 bucks. Yes, so basically what people are saying is that its not just huawei, yes, the blacklist may have impacted them but the slowdown in smartphone industry, smartphone sales are down and the likes of all the smartphone suppliers will probably be hit as well. Overoptimistic of First Quarter<\/a> forecast, higher inventories, we know its happening. Stuart i saw envidia coming down. Yes, all of them, all 30 components of Philadelphia Semiconductor<\/a> index down. Stuart not a good day for the chips id say. No. Stuart back on breaking news, the pentagon believes iran is detaining crews of one tanker in the gulf. James carafano, how does america respond to this, sounds like escalation, how should we respond . You said a very keyword which was respond not react, and whats very important here from day one of this confrontation, the u. S. Has been responding, the United States<\/a> preposition assets in the region to deal with this kind of threat, theyve already warned iranians and warned the world, theyve already kind of said that theyre not going to let this confrontation escalate out of control but they will keep the straits open. Theyve actually been the adult in the room here by not just reacting to what the iranians are doing but responding and in many ways pre predicting. Stuart we dont care about their oil, this is an example of how Americas Energy<\/a> dominance allows us to be very tough with foreign adversaries like iran. I think thats right, its always bit a onetwo punch of global supplies and the more global supplies there are the more stable the market is but also the other half of that is the United States<\/a> ability to bring security to the region when it needs to. Its kind of a lesson from the 1980s in Ronald Reagan<\/a> the way he dealt with crisis back then was he relied on markets to solve the problem but he also put u. S. Military forces in the gulf in a sustained way to make sure those lines were opened and in many ways trump has borrowed from the reagan playbook here. Stuart assess the risk here, assess the danger that we have much more escalation and some serious military exchange, there is a risk of that, isnt there . No, i dont think so. I think the risk is actually what the iranians are doing is typically iranian behavior. Youre in a tough neighborhood so you have to look tough. Iranians cant take pounding from the United States<\/a>, they have to do stuff so everyone in the region fears them but they cant get into a tit for tat with the United States<\/a> and so what theyre basically trying to do is have it both ways, covertly, subvertly show that they are tough guys and they can duke it up too in a way that it actually doesnt escalate. They are trying to hide the fact that they are attacking ships, they are trying to look tough on one hand but stuart their oil experts have virtually stopped, im told down to 100,000barrels a lot. They are in a corner here. Yeah, but they can live in that corner for a long time. Theyve survived tougher things than this. They survived iraniraq war, ups and downs, authoritarian regime, that doesnt sound like a right word, what thing regimes can do well control resources, keep lid on things, so they can kind of, they can last through this. Again, the u. S. Knows that and part of our strategy is we are not pressuring them to start world war iii or to force iranians to collapse, we are pressuring them to stay in their Little Corner<\/a> and from our perspective they can stay in there forever or if they want to cut a deal which is what trump has said they can get out of the corner, thats their choice. Stuart i think youre an army vet, i think you were in the army for was it 25 years . June 14th, the armys byrd, since day one they have been there for us. We have great piece at heritage website at daily signal by one of our other veterans tom sprore and we have a lot of great things in america and maybe the best geft weve ever got. Stuart thats from an army guy. They would say that too. Stuart no they wouldnt. Its the president s birthday as well. James carafano. See you again. Good being with you. Stuart President Trump<\/a> birthday guy today, only 3 democrats that could give him neglect real trouble in 2020 election, you will hear which 3 he has singled out in just a moment. Plus, San Francisco<\/a> all they want to do is tax big business, they now got big plans businesses with highlypaid chief executives, hes with us shortly. Let me ask you something. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern Company Going<\/a> back to the doctor just for a shot. With neulasta onpro. Patients get their day back. To be with. Family. Or just to sleep in. Strong chemo can put you at risk of serious infection. In a key study. Neulasta reduced the risk of infection from 17 . To 1 . A 94 decrease. Neulasta onpro is designed to deliver. Neulasta the day after chemo. And is used by most patients today. Neulasta is for certain Cancer Patients<\/a> receiving strong chemotherapy. Do not take neulasta if youre allergic to it or Neupogen Filgrastim<\/a> . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome. Have occurred. Report abdominal or shoulder tip pain, trouble breathing. Or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes. Fatal crises can occur. The most common side effect. Is bone and muscle ache. Ask your doctor. About neulasta onpro. Pay no more than 5 per dose with copay card. Stuart all right, we are one hour and 11 minutes in and we are down 80 points, about onethird of 1 , 26,000 is where the dow is at. Now President Trump<\/a> spoke with fox friends earlier this morning, listen to what he had to say about the 2020 president ial tape. Roll it. Everybody knows that joe biden does not have what it takes, okay, he doesnt what it takes, Everybody Knows<\/a> that. Steve what does that mean . It means mental capacity, means a lot of different things. He never did have what it takes until obama, he ran 2 or 3 times. I used to call him 1 joe because he never got more than 1 and obama came along and surprisingly took him off of i say the trash sheep and ran, but Everybody Knows<\/a> joe is is doesnt have it. Stuart he didnt hold back, did he . [laughter] stuart laura trump is with us, welcome back to the program. Thank you, good to be here. Stuart which candidate out of 23 would you like to go up against most . Oh, my gosh, there are so many good ones to choose from, stuart, its very hard to say. Stuart let me turn it around. [laughter] stuart which would you least prefer to go up against . Honestly no one has knocked my socks off so far. I know thats a i always say i think this president is going easily win reelection no matter who the democrats run as their candidate and it will become clear after debates in the coming weeks but the president said hes happy to run against joe biden, elizabeth warren, Bernie Sanders<\/a>. Stuart does any of them give you any pause . No. Stuart wait a minute, im not sure about this . No not at all. Not a lot came out of that. The country got worse under the obama administration, all the jobs left, everything else. Stuart your fatherinlaw is questioning his mental ability, do you think thats legit . Maybe theres something to it. Stuart youre piling on now . All i know whenever you have been a Vice President<\/a> for as long as joe biden has and been in politics and you dont have a whole lot to show for it, yeah, here is President Donald Trump<\/a> who has been in politics 2 and a half years and you see what hes been able to do, we are not nervous about joe biden, we are not nervous about any of them. Stuart not at all, not in the slightest . I cant imagine how people who are doing better in this country and most people are as a whole under this president are going to not want to continue that, i think they are all going to vote for donald trump and i hear every day even in manhattan, stuart, from people i promise you going im waiting on cross rocks and people say we love the president. People who never voted for a republican president before who voted for Hillary Clinton<\/a> the first goaround have woken up and said, you know what, donald trump did what he said hes going to do and delivering on all promises and we want to keep the economy going. Stuart seriously, youve actually walk on the streets of manhattan . Yeah, i walk everywhere. Stuart people whisper. They give me thumbs up and love the president , keep up the good work. Youd be shocked to see how often it happens here in new york city. Stuart i have to go around in basement come with me. Stuart baseball hat and sunglasses, do i actually, do i. Come in your cognito outfit. Stuart i dont have i really want to talk to you because you went with the president to england. Yes. You were at buckingham palace. We were. You met the queen. We did, it was amazing, such a special trip. Never in my lifetime did i ever think that i would be able to go to the pa his to meet the queen, be part of Something Like<\/a> that and there we were. [laughter] i feel maybe im doing monologue or something. Stuart okay. Incredible. Stuart i saw the president involved in very interesting conversations with the queen. Yes. Stuart looked like they got along. They got along great, i think she was thrilled to have him there, i think she spent a lot of time preparing beforehand. They said that she was part of every single detail of the president s visit, really we wanted to make sure things went bell for president and first lady and we were honored. Stuart what about the lunch, was it lunch or dinner with Prince Charles<\/a> . I wasnt part of that. I was on a flight coming over from the u. S. , commercial flight that we paid for ourselves and i would like to point that out. Everyone think it is taxpayers paid for it. [laughter] stuart Prince Charles<\/a> is avid global warmer and he had conversation with your fatherinlaw who is not much of a global warmer. Im sure they both gave each other their take on things and im sure it was informative for both of them. The president is always happy to hear other peoples thoughts on things and really get their viewpoints so im sure he was happy to talk to Prince Charles<\/a> and hear what he had to say and hear viewpoints on things. Stuart enjoyed meeting queen . Amazing. Stuart special . It is, they knocked our socks off. We are trumps, you know. [laughter] stuart how do you do that with the trump family . We were all blown away but truly an honor. Stuart you have to build a palace in new york city. [laughter] stuart laura, thank you very much indeed. We appreciate when youre here. Absolutely. Stuart thank you, maam. Lets get to much more difficult subject here. Two years ago, youre looking at the scene a gunman shot up a congressional baseball practice, congressman Steve Scalise<\/a> seriously injured, it was a very tough recovery for him but he did make it back. Hes on the show today, Steve Scalise<\/a> live on the set with me in our next hour, stay there, please. Stuart we were down 100, now 30, pretty much go nowhere friday, trouble all around world but the market is not responding to that. How about this one for you . San francisco wants to tax big businesses, whats new in that, they want to tax some more, latest proposal is to Tax Companies<\/a> that are having highlypaid ceos and use the money to pay for free Mental Health<\/a>care, larry elders is with us radio talk show host, larry, thats San Francisco<\/a> and milking Silicon Valley<\/a>, i think thats whats going on here, right . Right, well, what else is new . The thing i find interesting, stuart, in 2004 california voters passed Ballot Initiative<\/a> to tax millionaires 1 for Mental Health<\/a> services, since 2004 they have been generating 2 million a years and hundreds of millions of dollars of money has been unspent, weve got tax statewide to deal with problem that San Francisco<\/a>s will have to deal with right now. Stuart if it wasnt for Silicon Valley<\/a> and all the bigTech Companies<\/a> that are in Northern California<\/a> right outside of San Francisco<\/a>, the economy of Northern California<\/a> would be really nowhere near where it is now. Look, the bottom line to me is they just think big tech and Silicon Valley<\/a> as cash cow, its there to be milked, thats what its there for . Absolutely, thats how they see it and voters in the city will face two other tax initiatives, one to raise money to deal with wealth inequality, whatever that means and the other one is to deal with transportation issues, they are going to tax uber and lyft, sooner or later these companies that find this city so attractive are going to rethink assumptions and go elsewhere. Stuart no, no, larry, come on, larry, they are not. Do you think apple is going to move out of palo alto, you think that all the companies, they are established there, i used to live in San Francisco<\/a>, those companies are still there, theyve been taxed to the hill, they are not going to leave, they will stay there. When they stand up operations they are going to stay there and other places offer them the same tax incentives that, for example, amazon was offered by new york city you think they are not going to rethink assumptions down that road. They will see they have other options and we find a lot of people leaving california already. California had surplus, they do on paper, they also owe 1 trillion in unfunded pension liabilities and sooner or later people are going to rethink assumptions and either vote differently or go somewhere else. Stuart State Government<\/a> run by democrats, huge pension liability, taxing everything to pay for it and i think thats also true of california. Well, look, larry, sunday fathers day, youve got a new book out, i think, right . A lot like me, a father and sons journey to reconciliation, thats intriguing title, tell me. Its about the 10year period of time my dad and i didnt speak to each other. We had 8hour conversation, i found out he was a magnificent man, if you have a estranged or difficult relationship with your father, reach out while they are above the ground, youll be surprised at how much youve evolved, how hes evolved and misunderstood each other. Thats what the book is all about. Rethink your assumptions, difficult job being a father. Stuart you were estranged for 10 years, didnt speak to him and you had a long conversation and figured out that the man was a great guy, thats the subject of the book. Thats right. Thats the subject of of the book, my dad was a military guy, world war ii veteran, stationed in guam during world war ii and a lot of people have dads like that. My dad wasnt like that, as i got older and older he got smarter and smarter and wiser and wiser and i got dumber and dumber. We had 8hour conversation where we hashed everything out. Stuart man, i wish you had that on tape, that would be something, wouldnt it . Just great, larry, i will buy that book, i will contribute to your Retirement Fund<\/a> and i will read it too. [laughter] i live in california, i need it. Stuart exactly. [laughter] stuart see you later, larry. Bernie sanders going after amazon for offering new highinterest credit card to poor people. Senator sanders calls that greed, he wants to rein them in, my take on that coming up next. Amazon will introduce a card for people who cannot get one. They will call it the amazon credit. They are self interested, they would love to have more people buy their stuff. Poor people get a credit card, amazon gets more business, that is india. Read says Bernie Sanders<\/a>. Greed makes the poor even poor. The 28 interest that the amazon card will charge borrowers. 28 is a heavy load. Bernie has introduced legislation that would raise the 50 . Going after amazon for charging the eyepopping 28 interest is smart politics. Especially when hes charged by a giant corporation founded by the richest person in the world. Nobody will listen to the reason for the 28 which is big risk, lending to people with no or bad credit and high interest covers the risk. That is a losing argument in the public square. Amazon is an easy political target for this one. It will go ahead with the credit builder card but bernie will win political points simply because he is going after the big bad corporation. That is his thing. Last week he attended a Shareholder Meeting<\/a> and made headlines calling out the wealthy walton family, although leading democrat president ial candidates are going after the big bad corporation, break them up, tax them, find them, legislate, executive pay. Hating the corporation is a bigger plan in their platform as hating President Trump<\/a> paid but think this there. Women could be better off if we rein them in or broke them up . I like the intimation that big tech has given us. I like the big tech money flowing into industries and improve them. But above all i like capitalism. You get the sense of energy and joy. I dont like the idea Bernie Sanders<\/a> running american business, he would run it into the ground you will hear a lot more about this. Bernie is laying the groundwork as we so often said it is going to be capitalism versus socialism in 2020. The third hour of Varney Company<\/a> is about to begin. Stuart i need reaction to my rambler. The man right in the middle of silicone valley. They filled of the next revolution of the Fox News Channel<\/a>. I think bernie is on to a political winner here, going after amazon charging 28 on a credit card. That is easy politics. It is a winner. What do you think . I think that is right, it is interesting in the assault on big tech is coming from both sides of the aisle. You see republicans weighing in on grounds of center shape and so on. But i think the real point that underlies what youre saying with your fundamental argument, if we want a better society, if we want new products and services and if we want people to earn more and have a rising standard of living, we know its capitalism that delivers and corporations who in the pursuit of profit and that new things that people want to buy. Remember none is compulsory. People want to buy it because, i also like freewheeling. What that depends on, and what we dont have enough of his competition, i think that is the area that we can legitimately focus on criticisms and say you have to have competition, its free markets depend on competition into many sectors and tech is one of them. Healthcare, insurance and analyzing, you see the concentration of industries free get less and less competition and in many ways competition is a better alternative to detailed regulation, if you have competitive market you do not need the government micromanagement business, thats what its all about. Stuart give me competition rather than government control any day of the week. Thats what we would like to see. I have to ask about facebook, theyve officially announced that they have a crypto currency do coming up, they have big backups for, paypal, uber, all involved in crypto currency that facebook will put out there. It seems like a great idea, i think its a winner. What do you say . I think the fact that theyre taking the time and as you said they have a lot of serious support. List into the round of something that is realistic and people attributable and until now its a bit of minority sport and i think this could be a game changer. I think so, the market like sick, do you have anything about tim cooks visit to the white house. I dont think he was there to discuss Prison Reform<\/a>, any idea what he might even talk about. Yes, he is part of the Workforce Development<\/a> and i think its called counsel for the American Worker<\/a> that yvonne can trump is leading on and that is focused, actually one of the more brilliant initiatives of this ministrations that does not get covered enough because think about this, this week we sell really interesting, its a gap between the number of vacancies in the economy and the people to fill them its the biggest its ever been. What that tells you is the policies are boosting, available jobs but people dont have the skills to take them thats what the Workforce Development<\/a> is all about. Ivanka trump is giving American Worker<\/a>s the skills that they need for the future. They have private sector countries involved in it. Think about how they train their workers and people who dont work for them for the future. I think that is what tim cook is there to talk about. Stuart i thought it would be china for antitrust or something or other. That is very interesting. Thats a good reason for the man to be the thank you so much will cut your show on the fox mission on sundays. I will break and because on the lefthand side of the screen that is chewy, it went public today, first trade of what the trade currently is 38 a share, up 17 from the offering price. 77 gain. We have jackie at the new york stock exchange. It was a blowout wasnt it. Fourteen dollars over price, the first opening trade, 36 on 6 million shares, you can see exciting new highs as were talking. Trading around 39. Its a 46 and a half it was barely highly anticipated in the tents market is worth 70 billion and they have a share of the online sales about 55 of the pet food sales and 35 of the pet supplies. Pet smart owns about three quarters as well so this is seen as bringing the entities together and j. P. Morgan was a runner on the steel and it looks like some of these things can go south but weve seen Great Success<\/a> trading at 3929 at the moment. Thats interesting the pet smart owns 39 . Very smart move. Thank you very much indeed it was a blowout open. Staying on your money, check out the market it is now not very much, give a loss of 48point, the dow is at 26000. We are watching Interest Rates<\/a>, the yield on the ten year treasury is 209 that yield is down as anxious money moves into treasury securities or seeing the yield down in the price up. That is a flight to safety and you are looking at right now. We are watching the price of oil, where are we now, 52. 72 a barrel. That is an oil market that is shaking off the tension in the gulf of oman and the tinker attacks and escalation there. No real response for oil. Today, marks the second anniversary of when the gunman opened fire on congressman steve and several other republicans during a practice baseball game. Steve schooley spent the next few months in a ruling recovery then he returned to congress. It was a dramatic moment. Congress and schooley is opening up about this in a new book. His return to congress, you are watching right now while he will be in her studio after the spring. Break. Stuart an important anniversary, june 142, 0172 years ago exactly today. Congressman Steve Scalise<\/a> republican of louisiana was shot in the head by a lone gunman, he is practicing for congressional baseball game in suburban virginia. Though it was not deadly his journey back to recovery was long and certainly grueling, his optimism and i would call a poised disposition never ever waiver. A source for inspiration and otherwise a difficult world of politics. Congressman Steve Scalise<\/a> wrote this book, back in the game, the one gunman, countless heroes in the fight for my life. That is the title. He is with us now. Steve scalise in new york city next to me. Welcome back. Thank you stuart great to be sitting here with you. Let me present you with your own signed copy of back in the game. Stuart how are you doing . Doing great, finished all my surgeries, nine surgeries to put everything back together, a lot of internal damage and a lot of miracles. Stuart is this book about your recovery . Yes thats what i wrote the book about, 70 people following and praying and i talked about how much i be strength during the tough times and give my family strength. In the eyes of the heroes and people to say my life, the police officers, firefighters, paramedics and the colleagues who came to my defense. All the doctors that say my life and physical therapist who talked me how to walk again. Stuart the night of the shooting there were at least two different times that they werent sure if i was going to make it through the night. I lost almost all my blood. Id 0 bloodpressure when i showed up at the hospital. It was not a matter of minutes, maybe another minute and you would not have made it. Most people do not make it. I am blessed, god definitely performed a lot of miracles. Stuart the way youre talking you are christian. I am. My faith was tremendous and when i went down i started crawling away and knew i was shot but i can make it about 20 feet and we put a picture in the book of the trail of blood in my arms gave out. I cannot move anymore and at that point i started to pray. It gave me an incredible sense of calm knowing i put in gods hands. I did not know if i would make it through because i can still hear the shooting but i pray to god and he answered all the purse. Stuart right after the shooting, there were universal calls that came together because look what just happened. You must be a little disappointed that two years later we have not come together. There are moments that it comes in that was clearly one of those moments where people did come together and it was so special and it shows us we can get to that point. Right now were not one of those points unfortunately but its like a pendulum swings back and forth. I think we need to keep reminding ourselves and everybody else that were country that is built on ability to disagree with each other and even with the government but its a discourse of how we talk about it, disagree with people based on your ideas and try to present your ideas and sway people but dont try to make the attacks personal. I think thats what breaks down, where people go after the personality of another person opposed to sticking with the issue. Stuart thats shooting, thats hirecovery, thats about. President trump took on House Speaker<\/a> pelosi this morning earlier today in a conversation on fox and friends. Here is him taking on nancy pelosi, roll tape. It is the disgraceful statement, i call her nervous nancy, she is a nervous wreck and ill tell you what for her to make a Statement Like<\/a> that is outrageous. Her party got caught spying. But the bottom line they spied on a campaign of another candidate and another party. It may be the single biggest political crime in the history of our country. They spied on the opposing parties campaign using the intelligence apparatus of the United States<\/a>. Stuart the president was fairly quickly to use a personal attacker. The things that were said about him were very personal and very inaccurate. Nancy pelosi recently said he should be in jail. That was so far over the line. And by the way and backed up with nothing. They even talking about conspiracies and collision for two years and even with the Mueller Report<\/a> coming out immediate clear there was no collusion. Stuart he flip the script and put it back on them. Lets talk about what really did happen, not hypotheticals, wretched did try to interfere with the election when barack obama was president. Who asked barack obama what did he do about it, why didnt he stop russia from interfering. President trump is taking a direct action against russia for the interference. He kicked officials out. He opposed tensions and has done things to make sure russia cannot interfere with the next election. For them to make these claims, lets get back to doing the work of the American People<\/a>, theres a crisis at the border right now, the president submitted a request for emergency funding to take care a lot of these kids that are coming over to have real serious dire health needs and Speaker Pelosi<\/a> will either bring the bill to the floor. It is been over a month. When barack obama asked for that request for crisis of the border, when barack obama was president. We responded less than a month and passed the full amount the president requested. Its time for Speaker Pelosi<\/a> to take action and deal with the real problems, stop the namecalling, lets get to work. Stuart it is great to see you back. Great to have you can thank you steve. Listen to this. Amazon facing a new lawsuit over alexa voice assistant. The company is accused illegally recording kids voices. Full story for you next. Stuart bad pr for amazon echo. The alexa product, according to a new lawsuit, they have been illegally recording and storing the voices of children without their parents consent. Jackie joined us from the exchange. It is a new lawsuit, filed in seattle and alleges that alexa recording of children storing the recording and violating the rights at least eight different states. Here is what the plaintiffs are asking for. The student speaking in junction. That means that to get consent before a records of minors and also to safeguard against future instances of this happening in each case there could be up to 5000 penalty for each specific instance. The student is looking for class action certification and as you know when plaintiffs join together and file in that way it makes it a larger situation. Big black guy for the company dealing with this. Obviously because its dealing with minors not even necessarily adults. Heres what they had to say on the website about it. If you have not given us information to walked child personal information we may make available certain Voice Services<\/a> intended for children and they going to say, we may process your childs voice recordings for services, but we will not store these voices recordings. El cariso problem because sometimes the devices are triggered when they are not spoken to. Regardless of just hearing the sound in the room and they can overhear things that are private. Kids dont necessarily understand all the rules of privacy and didnt really know how to protect themselves. Stuart i dont want anybody listening in or recording any conversation in my house. Its as simple as that. Good story and thank you for covering for us. Kim kardashian returned to the white house again pushing for criminal justice. We will cover this from the white house and what kind of prisoners will this apply to. My old friend announcer more details incoming involving volkswagen and the growing scandal. Dissatisfied customers filing complaints against the german auto maker. Because a vision softly creeping left its seeds while i was sleeping and the vision that was planted in my brain still remains within the sound of silence in restless dreams i walked alone narrow streets of cobblestone when my eyes were stabbed by the flash of a neon light that split the night and touched the sound of silence thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. Its soft. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, and the door ensures a watertight seal, so you never have to worry about leaks. Kohlers walkin bath was designed with convenient handrails for added stability and safety. The wide, ergonomic seat is tilted back for comfort and stability. 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Stuart two hours into the trading day and down 30point into even split 5050 between winners and losers on the dow 30. The chipmakers are taking on the chin. Rod come says its going to take a big financial hit because of the restrictions on wall, the Chinese Company<\/a> that sorting all the companies prepare down 6 . Theyre all done today. Now this, more than 600 companies warned President Trump<\/a> about tariffs on china. They sent a letter to him. That is a long list. Stuart the timing, right before a proposed meeting which is jumping, 600 companies. Walmart, target, costco, levi, footlocker, they are saying the trade war with china will damage the u. S. Economy leads to job losses and harm millions of consumers in escalated trade war between u. S. And china is not the best interest. They cited this letter that they wrote to the white house, 25 of tariffs on an additional 300 billion of good would add 200 in cost for the average American Family<\/a> of four. I think youre right, the idea of timing before the president goes, they dont want these additional tariffs. It is really intruding right in the middle the tense negotiation. 600 is a big number. Stuart not on the president xi. Thank you. There was indeed a big meeting from the white house. He will come can kardashian west and Business Leaders<\/a> two. All about his Prison Reform<\/a> initiative. This morning they called it to fox and friends on the Fox News Channel<\/a> and this is what he had to say about it. The whole criminal Justice Reform<\/a> has been amazing because it is very conservative and very liberal and it is unbelievably bipartisan and nobody can get it done, they all said it was impossible, the Trump Administration<\/a> got approved. Nobody writes about them. Because they dont want to write about it. The time has really covered it. And if i were a liberal democrat and i did jump onto criminal Justice Reform<\/a> it be the biggest story of near time. Brooke rowlands is with us for the strategic initiative. This is not the kind of issue that i associate with a republican president. Why is he so gung ho part. What an honor, yesterday was a great day and to see the president lead on i believe its one of the greatest issues of the time criminal Justice Reform<\/a>. It is been really, really awesome and why you not necessarily associate republicans with criminal Justice Reform<\/a> in fact the states have been working on this for more than a decade. Texas led the way and now the white house working on the issue here. It really is, its become a republican issue, a very bipartisan issue, its a leadership oversight that is made this happen. What kind of criminals, what kind of criminal will be getting out of prison because of this initiative . Is a wholesale approach of coming of Justice Reform<\/a>. America has 4 of the world population. But 25 of the worlds incarcerated. If you think about what that means for taxpayers, families, it is terrible. The ever focused in the safe in washington is on the non violent offenders and mostly low level drug users that instead of making are transcended into rehabilitation or drug courts we put them in jail. So changing the entire report so other prison they have educational programs, the we figure out what kind of jobs they can get when they come out. It is overly important and part of the package be what is it possible to talk in terms of thousands of people getting out early . It is really in the hundreds probably lower thousands and frankly that is again, they are all coming out again, 95 eventually, back into the community, the lower one thousands were coming out under this approach truly what were doing is increased Public Safety<\/a> and these efforts have worked in the state, texas crime is down 30 after closing a present and moving more to the education and rehabilitation side. So kudos to this president who is fighting for the forgotten american every single day and more forgotten the demented women in our criminal justice system. Stuart thank you for being with us today on a very important issue. Is an honor to be here. Stuart what are bringing someone else who is in the room with the president yesterday, that man is depressing, the ceo of goodwill. Igood morning. Stuart are you hiring for goodwill former prisoners. Absolutely, we do two things, we are not for profit social enterprise and we employ 130,000 people, many people coming out of incarceration, they get hired into a network and we provide supportive services, train them, they get a job right away but also very portly as we find many workforce developing programs within our network for people who are moving into other industries. We provide people with Digital Skills<\/a> training, credential, partnerships with over 140 community colleges. So we provide a comprehensive suite of services to help people who are coming out of incarceration so they can navigate the difficult task back into a sustainable lifestyle. Stuart they will say the president is bold in this because he wants to appeal to the minority vote. What is response that cracks. I am not here to question the president notice, im here to say the first step back which is the legislation we were talking about was passed with bipartisan support. If youre at the white house event yesterday it was great to see people from both sides of the aisle, people from government, entertainment industry, this is really not about politics. This is an issue for our country and you asked about a number, we have 50000 people coming out of incarceration everything on month. Probably the most important thing for them ultimately so they have a sustainable path forward is to get employment that brings them selfsufficiency, gives them a place to go everyday gives them a place to contribute and very importantly gives them a place to support their families. So this really is a critical issue in the other thing i would mention, one of the things we have seen for people coming out of incarceration when they walk out of the prison they are walking into a minefield. They may not have money in the bank, they made a hunt transportation or housing so the extent that we can support them in critical ways we see that rate absolutely plummet. Its important to understand that there is not only a Significant Community<\/a> benefit but Community Deficit<\/a> for the community to help along the path. Stuart you are good man. We let goodwill on this program. Thank you for joining us. It has been a devastating year for farmers in the midwest in particular. Constant flooding, and on occasion its impossible to turn a crop in a profit of course. Last night some of those affected farmers in illinois have put on a no plant party at a local restaurant. It was meant to vent to one another the issues and blow off some steam. And he is more on this. The producer was there until 3 00 a. M. Eastern time and the farmers want to talk to him and say we want our voices to be heard and we are willing to talk about this. We have more video showing this. You have corn kneehigh or even higher with all of this flooding which is been unprecedented. The farmers have not been able to get the seat in the ground. Essentially we have seen corn futures from here in new york opening assessment. Most people say theyre likely to keep heading higher because supply will be lower and it does have a real effect in the market. Essentially the farmers have missed this painting window, not their fault, it is too risky for them to go so they tried to make the decision, do we file for insurance or not file for insurance. But of course there is always a legal attached if they do not plant, technically they cannot get insurance money. So now theyre in iraq and a hard place, do we plant with the cost losing the seed and incur in the hope of getting Insurance Coverage<\/a> or do we except its a loss. Thats why the meeting and discussing and tried to help each other. Stuart you think farmers in this business i have family members in boston. Its a good report. Thank you very much. A couple of stocks, fedex, china launches an inquiry that fedex made with Package Delivery<\/a> of wall products, fedex is down a couple of bucks. Southwest extended Flight Cancellations<\/a> all the way through september the second because of the boeing 737 max jet grounding. Southwest is up 51. Were gonna talk tessa woodstock callaway. He says tesla stock is going to take a dive in the next year we will let him make his case. Buckle up for life, the semi trucks coming to your state. We will tell you when they arrived next. My insurance rates are probably gonna double. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Here is a headline for you. Big rigs coming to florida. Watch out sports fans, tell me more. It looks like a lot like a videogame. Im sure this company has a plan. Its a San Francisco<\/a> starter. It is only a test for the moment, however, by the end of 2020 they say they will have completely autonomous trucks on the road and physical drivers for the first and the last mile but in between unbeknownst to you the motors on the road and florida, the semi will be moving on its own. They are getting mckenzie the Consulting Firm<\/a> seems a 2024 project, they say no we arent 100 people we want to train them to drive remotely and by the end of 2020 we will have these on the road. Florida law for the moment does not require anybody to tell you anything. So you could be driving alongside in the qaeda semi and nazi driver. I cannot wait. Especially the way i drive. Stuart we like bold statements on this program. The wishywashy stuff. Our next guest says tesla will take a dive dropping below 100 a share in the next year. And they will be bought out by a bigger company. That is a bold statement. Jon Scott Galloway<\/a> is with us and a professor at a New York Institution<\/a> it is a store for socialism. Were in a gangster capsul cat and remarkable young capitalist everyday. Tesla . Why will it drop below 100 a share. I made the sculptor hit a month ago when it was at 300 bucks, its halfway there. Its a single brand automobile manufacturing doesnt have the skill to compete in a capitalintensive industry. They have overpromise and undelivered on every dimension and never made a production target. You have a revolving door of senior management, greatness is achieved in the agency of others, almost every Senior Executive<\/a> over the course of the last two months. The question is, is this a genius whose change the world for the better, is tesla a great car, i own one. Or is this Company Going<\/a> out of business and will not be a company. I would say the answer is yes. There is real value that i think itll be a standalone automobile manufacturing is one of the centeno. I believe the whole car industry is a deep cup into trouble. There is so much capacity. Tens of millions of vehicles which we are not going to buy. Tell me about the electric car market. I dont think it is going to be a strong as you think its good to be. I would argue, the most positive impact tesla has had it has woken the germans in detroit on the electric slumber. There is now more r d and innovation around electric, i dont know if you have an electric car but its nice to never have to go to the gas station again. I personally like the feel of an internal combustion engine. The numbers might not be as great as we would like to think but it is definitely happy. You want to talk about bold statements with the verge on not being truthful. Elon musk said the two years theres going to be 2 million drivers driving tesla taxes. You know the tweet taking the Company Private<\/a> 420 a share, i said on the boards of public company, if i said that he would be out the next day. That is market manipulation and for some reason we decide that one set of standards and ceos and another set for innovators. You stated rely will hundred dollars the next year end someone will stop them up and pick them up. Its a prepacked bankruptcy. 11 billion in liabilities and warranty liabilities. This company could go under a death spiral and be bought out of bankruptcy. This is a terrible stock to own and operate. Facebook, you know the get involved in the crypto currency, the early have big backers. I think it is going to be a very, very big deal. Yep to a half billion people in the network so to speak. What do you say . We were talking about this on camera. This could be huge. Within 90 days your talk about something that could end up being the full currency globally. They are being quite smart about this parade theyre putting in place an Advisory Board<\/a> is independent of facebook, lets be honest, nobody trust facebook. When youre talking about currency that could potentially have more power than any central bank that starts to get serious. 2. 4 billion active users. Stuart its a Payment System<\/a>, a network, to a half billion people on the platform so to speak and theyre going to uses crypto currency to pay each other. Is that it cracks. Within a year to a half billion people of the population start using more currency, youre the currency that is become effectively the default of currency globally. That has tremendous power and ratification. To think its a backup for the dollar on a global state cracks. When you have this many people on a platform and they contentedly crept the backend and make it easy to transfer money from the people and quite prickly i dont know if you do wires, theres so difficult in such a pain. There are so many things that you see on facebook, Instagram Stories<\/a> and beautiful images of product the idea that the payment is secure and you can send your friend back in britain money easily this could overnight become one of the biggest currencies in the world. I am not a big fan of facebook but this could be an extraordinary innovation. This is very exciting, itll be interesting to see what happens. The white paper coming out in about a week but no getting around it. This could be a seminal moment in history of payments and business. I like bold statements. One thing our issue, i dont have any friends in england. [laughter] english people who support a guy like me on fox you the new james bond. Thats how you get invited to that. Stuart [laughter] Stuart Elizabeth<\/a> warren wants to cancel student debt for millions of youngsters. We will tell you what the plan is. We will tell you about that but first you have to show you this again, the raptors won the first nba to be chip, they beat the warriors. More on varney after this. Look at them go. I cant tell you who i am or what i witnessed, but i can tell you Liberty Mutual<\/a> customized my Car Insurance<\/a> so i only pay for what i need. Oh no, no, no, no, no, no, no. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Stuart what you are looking at now is a 119 the open at pebble, that is tiger woods, that he is not on the putting green, he is using his driver at their at the moment tiger is tied for 30th place i believe. In the tournament continues today. You can watch it all through the weekend on fox. You can stream it live on fox sports. Com. You can also watch soccer i am on my recliner watching both. That is the way it is. You can watch continuing coverage of the womens world cup, remember team usa place to late on sunday noon eastern time, watch it all on fox, lets get serious. Elizabeth warren, senator warren wants to cancel student debt for millions of people. Canceling all student debt . 42 million americans. Not everyone, it depends on Household Income<\/a>, if the Household Income<\/a> is under 100,000 youre in luck. Paid off. Above 250,000 sorry here are luck. In the middle, 100,000 to 28,050,000 is negotiable. Stuart what happens if i just paid off my student loan last week. You did the right thing and you will be punished. Stuart now have to pay for those people who havent paid what he think of that . I dont think thats right. Stuart of course is not. Especially for those who did it right and pitiful the lungs when they were supposed to. Elizabeth warren has your back. The student debt is really hurting the economy. It is after mortgage debt, it is the number one pot of debt that we have, one and half trillion dollars. It needs to be found but this is not the right one. I think that is a lot and if you talk to millennials theyre not buying houses, cars, they cannot move on. Stuart the solution means forgiveness donut. Dont it. Them have suggested that an terms of being three years and it can extend ten or 15 in which case the bank would be given a profit. 2 of people with 50 billion in assets, the 3 above a billion. And they claim that would generate two and threequarter trillion dollars over the next ten years if we pay for it all. And for college which is also proposing. [laughter] i guess i can go along with all of this, not. We have to take a break and as i usually do i promise there will be more varney after this. Stuart golf music. Come on, i want to hear some cheers, i will be watching pebble beach u. S. Open this weekend. Ashley itll be glued. I love the course, everything about it. Just look at the scenery, right . [laughter] stuart who is going to win . Ashley i might go with koepka. Stuart koepka is underappreciated champion. Leader at the moment is justin, 5 under. Ashley 6 under. Stuart thank you very much, fill in my sentences. Ashley youre struggling. Stuart very good. You can watch it all on fox, pebble beach, u. S. Open, all week long and you can watch, of course, soccer. [laughter] stuart chile noon eastern time sunday. Neil, all yours. Neil you think the world is going to the dogs, look at ipo, dogs too but cats too, animal toys online, multibillion dollar company, came public at 22 bucks a share earlier this morning, now more than 35 a share. My dogs love it. Im done, sort o","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia803004.us.archive.org\/16\/items\/FBC_20190614_130000_Varney__Company\/FBC_20190614_130000_Varney__Company.thumbs\/FBC_20190614_130000_Varney__Company_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}