Transcripts For FBC Varney Company 20240714 : comparemela.c

Cents. The price of gold holding steady. Its up just a little. Have we got a price there . Okay. We will get to it later. Its 1300 an ounce. What did you say . 14 . Gold is 1400 an ounce this morning. Big gain yesterday, a fractional gain this morning. Got that. Investors do not know what to make of this. Chinas leader goes to north korea. Interesting that right after that visit was announced, President Trump called xi jinping and worked out an extended meeting. So its a threeway dance and no one knows whether it helps the trade talks or not. Look at this, too. After a big rally yesterday, no significant pullback this morning. Yes, the dow, the s p, the nasdaq, they will all open lower but all three are still at or very close to their alltime highs, despite whats going on around the world. Go figure, maybe. Friday morning. Varney company about to begin. Stuart want you to see the video. Look at it. Its cooling down a little bit now but that was a massive explosion at an oil refinery in philadelphia early this morning. Can you go through what happened . Deirdre yeah. It is the biggest one, i want to point this out, on the eastern seaboard. At 4 00 a. M. This morning, you had a huge fireball reaching to the sky, huge flames. Commuters taking photos of this. It was really a frightening sight. This is a 150yearold refinery and you are seeing futures for gas prices, even natural gas prices, move higher off the back of this. It is the largest one on the east coast, so 4 00 this morning, no injuries, cause unclear but it is affecting stuart the picture on your screen is the damping down after the fire. There was a fireball literally in the middle of the night. Deirdre going from that refinery to the sky. Stuart extraordinary stuff. We are trying to get that video a little later on. It is dramatic indeed. Now, back to iran. We have new video from the defense department. You can just make it out. That shows the trail of smoke after the drone was shot down. Fox news has confirmed that a strike was in motion overnight in retaliation for the drone attack. Then it was called off. Joining us, general jack keane. Sir, welcome back to the program. Any idea why there was a standdown, calling them back . Yeah. I have more than an idea. I know what happened. The president planned to conduct a strike, directed that strike and it was largely against the means that delivered the blow to knock down our drone. In other words, radar, missile command and control, et cetera, but they received Additional Information that followed the president s instincts. If you remember, when he was in the oval office, he said my instincts tell me this could have been a mistake possibly, but later, they got information that confirmed just that, that the Iranian National leadership was furious with the tactical commander who shot down the drone, because they clearly did not want that provocation to take place. Based on those facts, new information to the president , he called off the strike. And i dont think there will be a reattack based on now the conclusion by the Intelligence Community that this was not the National Leaderships intention to conduct this provocation. Stuart whoa. Now, that is fascinating. To get to that late stage where the planes are in the air, then you get new information and you call it off. General, thats very interesting. Im glad you found out for us exactly what happened in the middle of the night. But i do want to turn to john bolton. As you know, sir, hes headed to israel next week. My question is, is this all about Irans Nuclear program, uranium enrichment . Because israel said many, many times iran must not get a nuclear bomb. Yeah. There are two things in front of us now with this crisis. Obviously the crisis has escalated because of the impact of the crippling sanctions on iran, and iran is trying to get International Community support, particularly from our allies, to put pressure on the Trump Administration to back off the sanctions. So that is really their main objective. They are also using the threat of busting the jcpoa or the Nuclear Deals restriction on uranium enrichment which sits at 3. 67 , and threatening to go to 20 . That is alarming. Because to go from the restriction of 3. 6 to 20 is a major, major progress forward and to go from there to weaponization can be done very quickly. So that is the central issue thats on the table. If the iranians carry that out, right now what theyre trying to do is use that as a threat to leverage the International Community, create alarm, put pressure on the United States, back off on the sanctions. Ambassador bolton is clearly going there to talk to Bibi Netanyahu about this incident. Clearly netanyahu cannot accept 20 enriched uranium because they can move very quickly to a weapon. So that is the most dangerous thing in front of us on the table that the iranians are threatening. Secretary pompeo is also going to go to the middle east and hes going to shore up a coalition to actually stuart im just interrupting, forgive me, sir, but President Trump has just said he stopped the attack because the response would not have been proportional and he is in no hurry on iran. He literally just said that, sir. Your comment, please. Well, i dont know what the details of that are in terms of what it means by proportional. Clearly, i believe he was going against the means that destroyed the drone. I think the tradeoff in his mind also is one, they took out a drone asset that clearly is worth multi millions of dollars, as we know. The tradeoff in taking out missile batteries, radar sites and command and control would be loss of life. The second issue is the escalation itself. When you step on that ladder of escalation to do whatever the planned strike was, the iranians have to respond to that. They will not accept it. Then you begin the ladder of escalation. So all of those are in the factor of the president s mind, i think plus the information that the tactical commander was not operating in concert with the national authority. So yeah. We are where we are. I dont think well see a reattack of that mission. Based on this decision. Stuart as the president says, hes in no hurry on iran. Interesting. General, im so glad you could lead our show this morning, because obviously, you know what youre talking about. Right in the middle of this im not going to call it a crisis, but this standoff with iran. General jack keane, a valued guest on this program. Thank you, sir. Appreciate it. Great talking to you. Stuart yes, sir. We better get back to your money. Take a look at futures. We are down about 60 on the dow. Down about 30 on the nasdaq. Thats nearly a half percentage point. Not that much of a pullback despite whats going on all round the world. Joining us, market watcher john layfield. John, let me bore you with my theory. In my opinion, profits rule wall street and at this point, the iran standoff does not hurt profits. Thats why there is no huge pullback. What do you say . I completely agree. It also shows the fundamental strength of this economy. Corporate profits are still coming in around the mid teens so we have a really good economy, we have low historic unemployment, we have wage growth. This is not something that forbodes a recession like some have predicted. We do have what appears to be a slowdown but were not falling off a cliff. You have three political events that seemingly could derail the economy from the iran standoff to brexit to the trade war, but these things have not really affected this market because this economy is so strong. Stuart okay. Im just going to read the president s tweet that we received moments ago. Here it is. Its in four parts but im going to go through them. President obama made a desperate and terrible deal with iran, gave them 150 billion plus 1. 8 billion cash. Iran was in big trouble and he bailed them out. Gave them a free pass to Nuclear Weapons and soon. Instead of saying thank you, iran yelled death to america. I terminated deal which was not even ratified by congress and imposed strong sanctions. They are a much weakened nation today than at than at the beginning of my presidency, where they were causing major problems throughout the mideast. Now they will bust. On monday they shot down an unmanned drone flying in international waters. We were cocked and loaded to retaliate last night on three different sites when i asked how many will die. 150 people, sir, was the answer from a general. Ten minutes before the strike i stopped it. Not proportionate to shooting down an unmanned drone. Im in no hurry. Our military is rebuilt, new and ready to go, by far the best in the world. Sanctions are biting and more added last night. Iran can never have Nuclear Weapons, not against the usa and not against the world. All right, john. How do you think thats likely to affect the market . I know you are just hearing this for the first time but i dont see that as a negative for stocks. Do you . I love it. I love the measured response by the president. I was worried this thing would escalate very quickly. I still worry that its going to escalate. There have been six tankers that have been mined or torpedoed in the strait of hormuz, from norwegian tankers to Marshall Islands to uae to saudi arabia. For some reason, everybody looks to us to defend the waterways of the world, especially when Oil Transport is involved, and now the president is showing some restraint. I think that an autocratic regime that when they get into a corner and i agree with what the president is doing here but i think iran, the chance of them doing something stupid here is slightly better than 50 50. Im proud that the president showed some measured response so far. Stuart john layfield, thanks for joining us. An important day. Appreciate it. Check futures. Any movement there in light of the president s tweets moments ago. No. We are still down just a little, 50 down on the dow, 28 down on the nasdaq. Take a look at amazon. Wants to use its delivery drones for surveillance. Says they can be used to protect you by spotting intruders and other criminals. Quite a story. Were on it. Give it to you. The Border Patrol chief going after aoc for comparing migrant detention facilities to concentration camps. You hear what she had to say. We are just Getting Started on varney. Carvana is six years old this year and is the Fastest Growing place to buy a car in the nation. Its because we have thousands of people working hard to make our customers experiences the best. Its because we have tens of thousands of cars ready to be delivered to your doorstep. And its why hundreds of thousands of happy customers have ditched the dealership and bought their car online, earning us an average 4. 7 stars in the process. So if you didnt know about us before, you do now. Were carvana, and we want to give you the car buying experience you deserve. This is Something Bigger. [ movin on up by primal scream ] that is big. Not as big as that. Sure thats big. Thats bigger. Big. Bigger. Big. Bigger. Big. But thats bigger. Wow, big. So much bigger. This is big. But thats. Well, you got this. Stuart Border Patrol chief taking aoc to task for comparing detention facilities to concentration camps. Watch this. Recently a member of congress has referred to those Detention Centers as concentration camps. Would you care to comment on that . I personally find them offensive. My men and women as well as the men and women in i. C. E. Are doing the best that they can with the limited resources that they have. Stuart i think we need a more significant response. Here is Fox News Contributor tammy bruce. Good morning. Stuart your response, please. Well, this is what i like about alexandria ocasiocortez is that we dont have to wonder about how ignorant she is. We know. This is the issue. And its not just her. We have now at least one generation, close to two, where in schools theres no history taught. There is no context taught about world events. Unless youre watching and at least maybe you get some on the History Channel but she clearly doesnt watch that, either. So you are looking at the use of words for shock effect. She knows its a phrase thats important. Shes clearly using it in a context to imply a seriously bad situation but shes also incurious. Shes not asking well, what does that really mean because the concentration camps were a factory to use slave labor to abuse people to death, to also then accomplish the mass extermination, the mass murder of a group of people because of who they are, and then to say that for those who do know what this means and im giving her the benefit of the doubt that she really didnt know. If she does, its even worse. That for the world listening, it then implies to people who dont know and then learn that we are like the nazis. This is a theme. And the problem for the left is when youre relying on manipulating peoples emotions, you must always up the ante. So now americans are not just nazis, weve got concentration camps and i guess that means we are using them for slave labor and then we are interested somehow in mass murdering people. This of course harms national security, it harms our relationship with our allies, it sends a message to people around the world maybe thats true and we dont know. It is a remarkably ignorant thing to say but also dangerous thing to say. Stuart did you also see this about the border. 1,500 migrants who came across in just two of these caravans, 1500 of them have prior convictions in the United States. Those are the ones we captured. This has been the argument all along. Not just when it comes to crime and the impact. Remember, these individuals then go into the communities of other undocumented people, of the hispanic communities who are then victimized first again by this movement of criminals into the arena, then youve got the same people on the left saying we should abolish i. C. E. Which then tracks down these people in the interior to get them out again. The problem here of course is the introduction of crime into those communities that the left says that they care particularly about, into the american scene in general, but then also theres the issue of infectious diseases, about what we know, what they have done, what we are able to track. This is for again, the First Communities hurt are the immigrant communities. Illegal and legal, because those are the communities that these people are being moved into. If the democrats are serious about being concerned about them, then dont lie about how we are trying to handle this influx with the Detention Centers and how we are holding people, and also be honest about the dangerous environment that the democrats are helping to create in the immigrant communities themselves. Stuart tammy bruce, thank you for bringing back the border on to the front burner. Where it should be. Thank you. Check futures again. Weve got a couple of tweets from the president this morning explaining why he stood down the attack on tiran overnight. The market has come back a little. We will be down about 40 on the dow. A florida city making headlines after it agreed to pay hundreds of thousands of dollars in ransom to hackers who had taken over its computer system. Big story. Weve got it for you. An fbn programming note. Charles payne will Interview White House trade adviser Peter Navarro on making money today, 2 00 p. M. Eastern. More varney after this. Incomparable design makes it beautiful. Stateoftheart Technology Makes it brilliant. The visionary lexus nx. Lease the 2019 nx 300 for 359 month for 36 months. Experience amazing at your lexus dealer. Quadrupled their money by 2012 . And even now, many experts predict the next gold rush is just beginning. upbeat music [announcer] today the u. S. Money reserve announces the Immediate Release of u. S. Government issued solid gold coins for the incredible price on screen. These Gold American eagles are official gold coins of the United States and are being sold for the price on screen. Pick up the phone and call americas gold authority u. S. Money reserve. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients world wide, u. S. Money reserve is one of the most dependable gold distributors in america. [announcer] today the u. S. Money reserve is releasing official Gold American eagle coins at cost for the incredible price on screen. These government issued gold coins are official u. S. Legal tender, made from solid gold mined here in america, and fully backed by the United States government for their gold weight, purity and content. Do not delay. Call now to purchase your Gold American eagles for the amazing price on the screen. Gold is now on sale at prices unseen in years. And this year could be one of the greatest gold buying opportunities of all time. Call now while vault inventory remains. As one of the largest u. S. Gold coin distributors in the country, the u. S. Money reserve has proudly served hundreds of thousands of clients worldwide. Dont wait another minute. Call now to purchase your American Eagle coins at cost for the amazing price on screen now. 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . 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 President Trump<\/a> called xi jinping and worked out an extended meeting. So its a threeway dance and no one knows whether it helps the trade talks or not. Look at this, too. After a big rally yesterday, no significant pullback this morning. Yes, the dow, the s p, the nasdaq, they will all open lower but all three are still at or very close to their alltime highs, despite whats going on around the world. Go figure, maybe. Friday morning. Varney company about to begin. Stuart want you to see the video. Look at it. Its cooling down a little bit now but that was a massive explosion at an oil refinery in philadelphia early this morning. Can you go through what happened . Deirdre yeah. It is the biggest one, i want to point this out, on the eastern seaboard. At 4 00 a. M. This morning, you had a huge fireball reaching to the sky, huge flames. Commuters taking photos of this. It was really a frightening sight. This is a 150yearold refinery and you are seeing futures for gas prices, even natural gas prices, move higher off the back of this. It is the largest one on the east coast, so 4 00 this morning, no injuries, cause unclear but it is affecting stuart the picture on your screen is the damping down after the fire. There was a fireball literally in the middle of the night. Deirdre going from that refinery to the sky. Stuart extraordinary stuff. We are trying to get that video a little later on. It is dramatic indeed. Now, back to iran. We have new video from the defense department. You can just make it out. That shows the trail of smoke after the drone was shot down. Fox news has confirmed that a strike was in motion overnight in retaliation for the drone attack. Then it was called off. Joining us, general jack keane. Sir, welcome back to the program. Any idea why there was a standdown, calling them back . Yeah. I have more than an idea. I know what happened. The president planned to conduct a strike, directed that strike and it was largely against the means that delivered the blow to knock down our drone. In other words, radar, missile command and control, et cetera, but they received Additional Information<\/a> that followed the president s instincts. If you remember, when he was in the oval office, he said my instincts tell me this could have been a mistake possibly, but later, they got information that confirmed just that, that the Iranian National<\/a> leadership was furious with the tactical commander who shot down the drone, because they clearly did not want that provocation to take place. Based on those facts, new information to the president , he called off the strike. And i dont think there will be a reattack based on now the conclusion by the Intelligence Community<\/a> that this was not the National Leaderships<\/a> intention to conduct this provocation. Stuart whoa. Now, that is fascinating. To get to that late stage where the planes are in the air, then you get new information and you call it off. General, thats very interesting. Im glad you found out for us exactly what happened in the middle of the night. But i do want to turn to john bolton. As you know, sir, hes headed to israel next week. My question is, is this all about Irans Nuclear<\/a> program, uranium enrichment . Because israel said many, many times iran must not get a nuclear bomb. Yeah. There are two things in front of us now with this crisis. Obviously the crisis has escalated because of the impact of the crippling sanctions on iran, and iran is trying to get International Community<\/a> support, particularly from our allies, to put pressure on the Trump Administration<\/a> to back off the sanctions. So that is really their main objective. They are also using the threat of busting the jcpoa or the Nuclear Deals<\/a> restriction on uranium enrichment which sits at 3. 67 , and threatening to go to 20 . That is alarming. Because to go from the restriction of 3. 6 to 20 is a major, major progress forward and to go from there to weaponization can be done very quickly. So that is the central issue thats on the table. If the iranians carry that out, right now what theyre trying to do is use that as a threat to leverage the International Community<\/a>, create alarm, put pressure on the United States<\/a>, back off on the sanctions. Ambassador bolton is clearly going there to talk to Bibi Netanyahu<\/a> about this incident. Clearly netanyahu cannot accept 20 enriched uranium because they can move very quickly to a weapon. So that is the most dangerous thing in front of us on the table that the iranians are threatening. Secretary pompeo is also going to go to the middle east and hes going to shore up a coalition to actually stuart im just interrupting, forgive me, sir, but President Trump<\/a> has just said he stopped the attack because the response would not have been proportional and he is in no hurry on iran. He literally just said that, sir. Your comment, please. Well, i dont know what the details of that are in terms of what it means by proportional. Clearly, i believe he was going against the means that destroyed the drone. I think the tradeoff in his mind also is one, they took out a drone asset that clearly is worth multi millions of dollars, as we know. The tradeoff in taking out missile batteries, radar sites and command and control would be loss of life. The second issue is the escalation itself. When you step on that ladder of escalation to do whatever the planned strike was, the iranians have to respond to that. They will not accept it. Then you begin the ladder of escalation. So all of those are in the factor of the president s mind, i think plus the information that the tactical commander was not operating in concert with the national authority. So yeah. We are where we are. I dont think well see a reattack of that mission. Based on this decision. Stuart as the president says, hes in no hurry on iran. Interesting. General, im so glad you could lead our show this morning, because obviously, you know what youre talking about. Right in the middle of this im not going to call it a crisis, but this standoff with iran. General jack keane, a valued guest on this program. Thank you, sir. Appreciate it. Great talking to you. Stuart yes, sir. We better get back to your money. Take a look at futures. We are down about 60 on the dow. Down about 30 on the nasdaq. Thats nearly a half percentage point. Not that much of a pullback despite whats going on all round the world. Joining us, market watcher john layfield. John, let me bore you with my theory. In my opinion, profits rule wall street and at this point, the iran standoff does not hurt profits. Thats why there is no huge pullback. What do you say . I completely agree. It also shows the fundamental strength of this economy. Corporate profits are still coming in around the mid teens so we have a really good economy, we have low historic unemployment, we have wage growth. This is not something that forbodes a recession like some have predicted. We do have what appears to be a slowdown but were not falling off a cliff. You have three political events that seemingly could derail the economy from the iran standoff to brexit to the trade war, but these things have not really affected this market because this economy is so strong. Stuart okay. Im just going to read the president s tweet that we received moments ago. Here it is. Its in four parts but im going to go through them. President obama made a desperate and terrible deal with iran, gave them 150 billion plus 1. 8 billion cash. Iran was in big trouble and he bailed them out. Gave them a free pass to Nuclear Weapons<\/a> and soon. Instead of saying thank you, iran yelled death to america. I terminated deal which was not even ratified by congress and imposed strong sanctions. They are a much weakened nation today than at than at the beginning of my presidency, where they were causing major problems throughout the mideast. Now they will bust. On monday they shot down an unmanned drone flying in international waters. We were cocked and loaded to retaliate last night on three different sites when i asked how many will die. 150 people, sir, was the answer from a general. Ten minutes before the strike i stopped it. Not proportionate to shooting down an unmanned drone. Im in no hurry. Our military is rebuilt, new and ready to go, by far the best in the world. Sanctions are biting and more added last night. Iran can never have Nuclear Weapons<\/a>, not against the usa and not against the world. All right, john. How do you think thats likely to affect the market . I know you are just hearing this for the first time but i dont see that as a negative for stocks. Do you . I love it. I love the measured response by the president. I was worried this thing would escalate very quickly. I still worry that its going to escalate. There have been six tankers that have been mined or torpedoed in the strait of hormuz, from norwegian tankers to Marshall Islands<\/a> to uae to saudi arabia. For some reason, everybody looks to us to defend the waterways of the world, especially when Oil Transport<\/a> is involved, and now the president is showing some restraint. I think that an autocratic regime that when they get into a corner and i agree with what the president is doing here but i think iran, the chance of them doing something stupid here is slightly better than 50 50. Im proud that the president showed some measured response so far. Stuart john layfield, thanks for joining us. An important day. Appreciate it. Check futures. Any movement there in light of the president s tweets moments ago. No. We are still down just a little, 50 down on the dow, 28 down on the nasdaq. Take a look at amazon. Wants to use its delivery drones for surveillance. Says they can be used to protect you by spotting intruders and other criminals. Quite a story. Were on it. Give it to you. The Border Patrol<\/a> chief going after aoc for comparing migrant detention facilities to concentration camps. You hear what she had to say. We are just Getting Started<\/a> on varney. Carvana is six years old this year and is the Fastest Growing<\/a> place to buy a car in the nation. Its because we have thousands of people working hard to make our customers experiences the best. Its because we have tens of thousands of cars ready to be delivered to your doorstep. And its why hundreds of thousands of happy customers have ditched the dealership and bought their car online, earning us an average 4. 7 stars in the process. So if you didnt know about us before, you do now. Were carvana, and we want to give you the car buying experience you deserve. This is Something Big<\/a>ger. [ movin on up by primal scream ] that is big. Not as big as that. Sure thats big. Thats bigger. Big. Bigger. Big. Bigger. Big. But thats bigger. Wow, big. So much bigger. This is big. But thats. Well, you got this. Stuart Border Patrol<\/a> chief taking aoc to task for comparing detention facilities to concentration camps. Watch this. Recently a member of congress has referred to those Detention Centers<\/a> as concentration camps. Would you care to comment on that . I personally find them offensive. My men and women as well as the men and women in i. C. E. Are doing the best that they can with the limited resources that they have. Stuart i think we need a more significant response. Here is Fox News Contributor<\/a> tammy bruce. Good morning. Stuart your response, please. Well, this is what i like about alexandria ocasiocortez is that we dont have to wonder about how ignorant she is. We know. This is the issue. And its not just her. We have now at least one generation, close to two, where in schools theres no history taught. There is no context taught about world events. Unless youre watching and at least maybe you get some on the History Channel<\/a> but she clearly doesnt watch that, either. So you are looking at the use of words for shock effect. She knows its a phrase thats important. Shes clearly using it in a context to imply a seriously bad situation but shes also incurious. Shes not asking well, what does that really mean because the concentration camps were a factory to use slave labor to abuse people to death, to also then accomplish the mass extermination, the mass murder of a group of people because of who they are, and then to say that for those who do know what this means and im giving her the benefit of the doubt that she really didnt know. If she does, its even worse. That for the world listening, it then implies to people who dont know and then learn that we are like the nazis. This is a theme. And the problem for the left is when youre relying on manipulating peoples emotions, you must always up the ante. So now americans are not just nazis, weve got concentration camps and i guess that means we are using them for slave labor and then we are interested somehow in mass murdering people. This of course harms national security, it harms our relationship with our allies, it sends a message to people around the world maybe thats true and we dont know. It is a remarkably ignorant thing to say but also dangerous thing to say. Stuart did you also see this about the border. 1,500 migrants who came across in just two of these caravans, 1500 of them have prior convictions in the United States<\/a>. Those are the ones we captured. This has been the argument all along. Not just when it comes to crime and the impact. Remember, these individuals then go into the communities of other undocumented people, of the hispanic communities who are then victimized first again by this movement of criminals into the arena, then youve got the same people on the left saying we should abolish i. C. E. Which then tracks down these people in the interior to get them out again. The problem here of course is the introduction of crime into those communities that the left says that they care particularly about, into the american scene in general, but then also theres the issue of infectious diseases, about what we know, what they have done, what we are able to track. This is for again, the First Communities<\/a> hurt are the immigrant communities. Illegal and legal, because those are the communities that these people are being moved into. If the democrats are serious about being concerned about them, then dont lie about how we are trying to handle this influx with the Detention Centers<\/a> and how we are holding people, and also be honest about the dangerous environment that the democrats are helping to create in the immigrant communities themselves. Stuart tammy bruce, thank you for bringing back the border on to the front burner. Where it should be. Thank you. Check futures again. Weve got a couple of tweets from the president this morning explaining why he stood down the attack on tiran overnight. The market has come back a little. We will be down about 40 on the dow. A florida city making headlines after it agreed to pay hundreds of thousands of dollars in ransom to hackers who had taken over its computer system. Big story. Weve got it for you. An fbn programming note. Charles payne will Interview White House<\/a> trade adviser Peter Navarro<\/a> on making money today, 2 00 p. M. Eastern. More varney after this. Incomparable design makes it beautiful. Stateoftheart Technology Makes<\/a> it brilliant. The visionary lexus nx. Lease the 2019 nx 300 for 359 month for 36 months. Experience amazing at your lexus dealer. Quadrupled their money by 2012 . And even now, many experts predict the next gold rush is just beginning. upbeat music [announcer] today the u. S. Money reserve announces the Immediate Release<\/a> of u. S. Government issued solid gold coins for the incredible price on screen. These Gold American<\/a> eagles are official gold coins of the United States<\/a> and are being sold for the price on screen. Pick up the phone and call americas gold authority u. S. Money reserve. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients world wide, u. S. Money reserve is one of the most dependable gold distributors in america. [announcer] today the u. S. Money reserve is releasing official Gold American<\/a> eagle coins at cost for the incredible price on screen. These government issued gold coins are official u. S. Legal tender, made from solid gold mined here in america, and fully backed by the United States<\/a> government for their gold weight, purity and content. Do not delay. Call now to purchase your Gold American<\/a> eagles for the amazing price on the screen. Gold is now on sale at prices unseen in years. And this year could be one of the greatest gold buying opportunities of all time. Call now while vault inventory remains. As one of the largest u. S. Gold coin distributors in the country, the u. S. Money reserve has proudly served hundreds of thousands of clients worldwide. Dont wait another minute. Call now to purchase your American Eagle<\/a> coins at cost for the amazing price on screen now. 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. They received Additional Information<\/a> that followed the president s instincts. If you remember, when he was in the oval office he said my instincts told me this could have been a mistake possibly. But later, they got information that confirmed just that. That the Iranian National<\/a> leadership was furious with the tactical commander who shot down the drone, because they clearly did not want that provocation to take place. Stuart that was general jack keane moments ago on the program saying why we stood down in the attack on iran. Moments after the general said that, President Trump<\/a> came in with a series of tweets. Ive got a couple of them for you. Here we go. On monday, iran shot down an unmanned drone flying in international waters. We were cocked and loaded to retaliate last night on three separate sites. When i asked how many will die, 150 people, sir, was the answer from a general. Ten minutes before the strike, i stopped it. Not proportionate to shooting down an unmanned drone. Im in no hurry. Our military is rebuilt, new and ready to go. By far the best in the world. Sanctions are biting, more added last night. Iran can never have Nuclear Weapons<\/a>, not against the usa and not against the world. So thats what we have just been dealing with in the first 20 minutes of this show. We have to take a short break. We will get back to the markets after this. I dont know whats going on. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. 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Decrease alcohol use. Use caution driving or operating machinery. Tell your doctor if youve had Mental Health<\/a> problems. The most common side effect is nausea. Quit smoking slow turkey. Talk to your doctor about chantix. Stuart you are looking at the aftermath of a huge fire at one of the biggest refineries on the east coast. That was a big fire overnight in philadelphia. Carl lowry is with us, an oil market analyst. Has this had any effect on gas prices on the east coast . You know, it will. It doesnt right now. We can see futures prices are a little higher right now. But it eventually will trickle down to the consumer, down to the pump. Its not a great time. Its summer driving season. Its an interesting play. We will see what happens. Stuart now, am i right in saying its the largest refinery on the eastern seaboard . Is that accurate . Thats right. Thats correct. So the eastern seaboard does rely on this refinery for a lot of gasoline, jet fuel and diesel fuel. A lot of the other stuff comes from europe. Thats going to be an issue going forward, especially if we see these tensions in iran really rachet up. Stuart you have ten seconds to tell me whether or not you think oil is going to go up from here bearing in mind whats happening in iran. Yeah. Lot of tension, lot of higher prices. We will see it higher. Stuart going to go above 60 a barrel . You know, i think we will get to 80. We will. Stuart oh, dont save the best until last. It will be there. Give it time. Stuart thank you very much. I know it was very short. Thank you. Stuart 80 a barrel is where he thinks its going. All right. The markets open, friday morning. We have opened with a fractional gain. Look at that. We are up three points, five points. 26, six points, well take it. This follows yesterdays very big rally. Look at the s p. Thats a tiny fraction,. 01 . Im going to call that flat. How about the nasdaq . Thats been doing well recently but today, its down a quarter percent. So the losses are on the nasdaq, not so much the s p and the dow. 2. 03 , that is the yield this morning on the tenyear treasury. Friday morning. That means david dietze is with us, so too jonathan hoenig, susan li, deirdre bolton. Jonathan, you first. Explain it to me. The markets at or near alltime highs and youve got all, forgive the language, all hell breaking loose all around the world. Why are we still near highs . I mean, where would you rather put your money, in a Government Bond<\/a> that is a negative yield, look throughout europe, look throughout japan, we have swaths of the Government Bond<\/a> market now at negative yield, so people have a question, they want the put their money in what are oftentimes very expensive but still profitable u. S. Corporations, or Government Bond<\/a>s with negative yields. Add to that, i will just add the u. S. Dollar has been dropping. It actually boosts the shares of so many of the stocks in the s p 500 and the dow because they earn in foreign currencies. Thats whats helping push the market up. The fed aint hurting either. Stuart you know, you and i agree. Money is flooding into the United States<\/a> because we offer an Interest Rate<\/a> positive and we offer safety. Good heavens, hoenig, better be careful agreeing with me. All right. Big tech names, check them, please. We do it all the time because this is where the moneys going. All of them opening lower. Ever so slightly lower this morning. Apple, alphabet, amazon, facebook, microsoft, all of them on the downside. Good buying opportunity, david . Any of them . What do you say . Certainly there are many that are good buys. For example, some of the semiconductors including intel offer dividends and growth. What we really like is the secular growth trends. Fact of the matter is people are not going to start looking at their smart phone no matter whats hammippening in the stra of hormuz. People want to incorporate tech in their life and i think that offers growth we are not seeing in other areas of the economy. Stuart so there is room for more upside move in those stocks on the screen . Absolutely. Absolutely. Stuart really. Yes. Stuart one extraordinary run already. Susan li raises her hand. Wants to make a point. Susan i just want to make sure we understand this is the best june so far for the s p 500 since 1955. On average, you know, the s p up above 4 , 4. 5. So far this month, we are trending higher by over 7 . You can thank the Federal Reserve<\/a> for that because nearly 100 believe there will be at least one cut, two, maybe three this year. Stuart other than the weather, june was great. Deirdre futures options indices, individual stocks expiring all today that normally increases volatility. Stuart okay. Hoenig, i know you wanted to get in. I heard your raised voice all the way out there in chicago. What have you got . You know, investing is like barhopping. You have to go where the action is. Look, the action is just not in big tech anymore. These are yesterdays winners. Yes, some have persevered. Microsoft and oracle are doing really well but i just dont think you can say buy big cap tech. Look at tesla, at a lot of these other names. These are the names that are at the centerpiece of the federal governments ire right now. The justice department. Thats going to hinder the big tech names. I dont think you can buy big cap tech, certainly not fang, and make money in the rest of 2019. Stuart david buys big tech. Jonathan does not. Moving on. Yesterday, we brought you those two big ipos. The message company, slack, the working messaging company. Susan corporate. Stuart heavens sake. Susan whatsapp for business. Stuart im talking slack, okay . Slack went up yesterday when the ipo came out and its up a little more this morning. Its at 39. How about the Grocery Outlet<\/a> . Can you show me that right now . It had a nice day yesterday. I think its up a little bit more this morning. Yes, it is. 29. Jonathan, is this the kind of company you like . I dont think people in general should buy ipos. Heres the game that oftentimes goes on. Ipos come out with very visible companies, a lot of media hype, and very low floats. There quite simply arent a lot of shares available for trading and they become almost day trading vehicles. I think these are going to be good stocks in the long term. You wait and buy them three months, even six months down the line. Trying to buy a stock on the first day i think is untested and generally bad way to try to make money in the market. Stuart david . I take it a step further. Slack was not even an ipo. It was a direct listing which meant of course, theres no road show, theres a paucity of knowledge. The company isnt getting the money itself. These are insiders unloading the shares. The Reference Price<\/a> to start at, it wasnt a negotiated type of price, less than 1 of all the users of the Slack Communications<\/a> are actually paying users. 750 million in revenue, 25 billion market cap. It does not make sense. Deirdre theres a question of what else can they do. You can collaborate via email but what else . The company has to keep innovating. Stuart but its new technology. America rules technology. This is a new way of using that technology. Susan it doesnt make money at this point. With a direct listing like this, its basically early investors trying to get out with 38 of the shares pretty much sold yesterday so they can get their money back. Stuart i have been shot down on uber and lyft and slack and a lot of other stuff. Susan its a growth stock. Stuart i did not buy beyond meat either. Susan you really missed out on that one. Im just saying, let me just finish my thought on tech unicorns. You are buying into growth. Ten million users, looking at still some pretty astronomical double digit growth returns, where do you see that and say an at t, perhaps . Stuart go ahead, jonathan. To echo the point, even microsoft, a growth company, but if you bought it in that 1990s growth period, you had to wait a decade for it to come back to its current high. Thats the problem i think with buying Growth Stocks<\/a> at growth multiples, when the multiple goes away, so does the stock price oftentimes for decades. For my money, i would rather buy gold, for example. I would rather buy commodities, something thats just starting a bull market rather than growth tech stocks which are probably towards the end. Stuart lets be clear. I waited several decades for microsoft to come back to a profitable position. I probably dont have decades left so i wont be making any other kind of investment. Okay. Im getting comments in my ear. Look at the big board, please. We are dead flat. Ever so slightly lower. Big rally yesterday. Down two points this morning. Got it. Walmart, they are going to pay 282 million to settle claims of bribery overseas. Market doesnt care. Not a new high but thats 110 a share on walmart. Beyond meat coming down by just eight bucks this morning. That is 5 . They are still at 156. Susan down for four straight sessions. Stuart thank you very much indeed. You are telling me, the producer is telling me down four days in a row. Okay. Got that. Bitcoin, 9,700 per share. Holding above the 9,000 level. A new amazon patent shows tech to the rescue. Amazon wants to watch over your home to protect you and maybe spot intruders. Lauren simonetti, got her two cents worth in earlier, will now get in her ten cents worth. Lauren i was just trying to help you with what slack was. You know, we try to frame tech or they try to frame themselves lately as a dogood company but theres a flipside of that, where its such an invasion. They want to use the drones that are soon going to deliver you your items to look around your house, your property, did anybody break in, is a car not in the right spot, is a window broken, is there a fire. They will alert you and they are going to alert the local Police Department<\/a> that this happened where you live. Hi, im your neighbor. I dont want that to happen because you could be looking at my property, too. Lets Say Something<\/a> nefarious goes on, you want to get away with doing something bad, you cant do that anymore because not only do we have security cameras, now we will have drones with footage of everything. This is privacy invasion times ten. Stuart i think we have to make the judgment that a car out of place or a door open is a security risk. Lauren it will alert you. Let the free market decide that. But this is why we have people are actually looking into the house. Is this any different than driving through the neighborhood and taking pictures so they can create maps . Deirdre google cannot function like that. Who doesnt use google maps. Its a great service. Stuart i want to make time for jonathan who i believe is a libertarian. What do you think . We should be building a statue to jeff bezos right now and thanking him for these amazing innovations. Lauren, what you are basically saying is this is going to make it more difficult for people to burglarize homes. Thats a good thing. Growing up, we were on vacation as a family, my parents would often call the cops and say hey, take a ride by the house, make sure everything so this is exactly what theyre doing. They will provide it in an accessible and benevolent way. People are always scared and it always helps us in the long term. Lauren what if someone can get into amazons system and get footage of what your property looks like . You know, security has been a question since the early days of the internet, but thats why they invest zillions of dollars and thats why these Companies Make<\/a> security a priority and do a good job. Lauren i dont want people looking at what i do in my backyard. I will just leave it there. What are you doing in your backyard . What are you doing . Lauren exactly. My privacy. Stuart hoenig, what kind of libertarian are you . We will answer it later. Thanks very much, gentlemen. Thanks very much for joining us. Lauren, thank you very much. The dow industrials, we are now ten minutes in. No pullback from yesterday. In fact, in the very early going we are up 11 points on the dow. Now this. President trump getting ready to issue a new executive order on drug price transparency. Health and Human Services<\/a> secretary alex azar joins us in our 11 00 hour. I want to know, is this a back doorway for the president to get some kind of health care done and passed . The executive order . Google, new report claims millions of business listings on google maps are simply fake and the company is making money out of it. Weve got that story for you. Maxine waters isnt the only lawmaker who wants to put the brakes on facebooks new digital currency. Next we talk to a republican congressman who says it could cause a lot of damage. Hes on the show. Stuart go nowhere market this friday morning, down just ten points on the dow. Democrat Maxine Waters<\/a> is not the only member of congress who just does not like facebooks new digital currency. Heres a tweet from republican lance gooden of texas. Quote, facebooks impact on social interactions went far beyond what its creators anticipated. If their crypto project were to impact our Financial Lives<\/a> similarly, the damage would be irreperable. The congressman joins us now, hes a member of the House Financial Services<\/a> committee. Reading between the lines, it seems like you just dont like the idea of facebook getting Financial Information<\/a> out of us. They have got so much on us already and have shown they have been unable to properly protect data and integrate our lives. I dont like shopping for something, then two seconds later im seeing a facebook ad about it. My constituents dont like it either. The last thing i think we want is facebook to be in charge of banking. With that said, i like the idea thats come out. Its intriguing, it could be good for the world. I just dont know if facebooks the one to be in charge of it. Stuart so its facebook you object to, not the concept of an easy Payment System<\/a> using a digital currency. Because that really would help all of those people that dont have a bank account or sure. Stuart theyve got some money or no bank account. Thats right. I think the actual concept of an innovative currency like this is great but it needs to be vetted. Normally i dont say we are the government, we are here to help, but in this particular case because this is facebook and Silicon Valley<\/a> has shown us they dont necessarily know whats best for americans, we need to have some here to discuss in more detail just what it is they want to do. Stuart you would call them in, you would question them and meantime, you put the brakes on it. Just like Maxine Waters<\/a> would, i think. I think we are all in agreement on that, yes. Stuart before you go, ive got to talk to you about the border. We had a report late yesterday, early this morning, that about 1500 migrants who came into america in just two of those caravans, they had prior criminal convictions here in america. You are from a border state. What do you make of that . 1500. Par for the course. We have heard this nonstop since day one. We have been talking about this since the government shutdown. President trump wanted a wall. Republicans wanted a wall. We want meaningful border security. Democrats continue to not even admit that we have a problem. This story doesnt surprise me at all. Stuart you are from a border state. Yes. Stuart youve got to deal with this firsthand. What do the communities, the local communities in texas, what do they feel about criminals walking in the door . They are outraged, they are upset about it, they are fed up. Thats why donald trump got elected the last time. Thats why i think he will get reelected this next time. Thats why i think republicans will take the house back over because democrats campaigned on doing something and since they have taken office, they wont even acknowledge that we have a crisis at the border. People are fed up across this country and something has got to be done. Stuart thats not showing up in the polls. In texas, democrats still lead President Trump<\/a> in headtohead matchups. You know what, these are the same wonderful polls that told us Hillary Clinton<\/a> would be our next president. So polls are what they are. Just that. Stuart what do you think, whats the proportion of hispanic voters in texas who will vote for President Trump<\/a> . Have you any idea . You know, i dont know, but i know that the hispanic vote is not necessarily a nonrepublican vote. The hispanics that i talk to in my district, they agree that laws should be followed, that border securitys important. Many that i talk to that i represent say we followed proper legal channels and we believe that others should as well. And i think that you are hearing a story from the left fake news media, some might call them, that we are not doing well in texas, i think you will be pleasantly surprised in the next election that texas is solidly red. Stuart got it. Congressman lance gooden, thank you very much for joining us. We appreciate it. Thank you. Check the market. The dow 30, where are we . Pretty even split, i think. No, predominance of red. And the dow at this point is down just nine points so far. Basketballs kobe bryant making a big investment in a fastgrowing Artificial Intelligence<\/a> company. Some of its clients include amazon, lyft, hp. The ceo of the Company Joins<\/a> us in a moment. Hes trying to fight what he calls the demonization of Artificial Intelligence<\/a>. The latest innovation from xfinity isnt just a store. 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 you got to say that is a very modest pullback after the 200 point rally yesterday, and a terrific month of june. This friday morning we are down just 25 points. Got that. Now this. Artificial intelligence demonized in parts of the media. Yes, it is. We have a guest who is going to defend Artificial Intelligence<\/a>. His company uses it to make sales calls more effective. Howard brown is with us, founder of ring dna. Before we get to your defense of Artificial Intelligence<\/a>, how are you using ai to make sales calls more effective . How do you do it . Well, we analyze sales conversations and Sales Activity<\/a> to make sure theyre doing the right thing at the right time. Artificial intelligence allows us to analyze hundreds of millions of conversations and their outcomes to make sure reps are performing at their top. Stuart okay. Now extend that to say surveillance, facial recognition. You are walking down the street. Artificial intelligence allows anybody to know everything about everybody on the street. Defend that. Well, certainly you could use Artificial Intelligence<\/a> in a security in a security manner to make certain that terrorists or suspects that you could be concerned about arent violating Citizens Rights<\/a> and arent going to create a dangerous situation for those of us that are walking down the street just trying to get to work. Stuart i see your point. I really do. Im not taking sides here. I just see a lot of demonization of ai in the media and also in tv news. I see it. I want you to defend it. I mean, whats wrong with this hostile approach to ai . Well, i have a far more optimistic view of ai. I see ai as a way to enhance performance. We look at ai in a sense and think about how the work force is really changing, right. If you think about athletes like kobe bryant or their teams, they have always used game film. They have always studied the performance of their athletes to help them do better. And we look at, theres not a boardroom, theres not a ceo anywhere that doesnt want better performance from their reps, better performance from their sales teams, and we look at ways to harness the analytics, the intelligence, to make businesses do better. Perform better. Stuart can you definitively say objectively that the use of Artificial Intelligence<\/a> in your company, ringdna, does improve results . Can you say that for sure . 100 . Companies that utilize our application see not only better performance in terms of sales, but better retention. What were doing is were helping were helping businesses truly be more human through the application of Artificial Intelligence<\/a>. Its like anything. If i can learn how to study my behavior, if i can learn what impacts change in a positive way, and what is impacting me in a negative way, i can do more of whats positive and less of whats negative. Rather than being afraid of Artificial Intelligence<\/a>, lets look at it as a way to empower human behavior. Stuart very interesting. Howard, look, thanks very much for being on the show. Its a very interesting subject and you handled it right at it. We appreciate that. Howard brown, ringdna. Thank you, sir. Now, heres a question. Is this good news or not for the apple ipad . The news is that google says theyre done with making tablets. Is that good for apple . Susan thats a good question because are people still buying tablets. Dont forget, google has had a really checkered history of trying to sell hardware. For instance, the first tablet, consumers didnt love it. It was released in 2015. Now google has confirmed that they are no longer making tablets. In fact, they are going to not release those unreleased tablets they had planned for this year and theyre not going to have a runup to the pixel book that was set to be released in october. I guess what google is trying to do here is they are going to still get into laptops, not tablets which i found interesting, because for awhile we were seeing the pc sales were dead, laptops were dead, it was more to the mobile and movable devices. I guess not the case for google itself. Stuart no more tablets from google. Got that one right. Check the big board, please. Now we are up about, what, five points. Thats what weve got. In a moment, a very important report coming your way for realtors. Could move the market. It certainly affects realtors. Weve got the numbers on existing home sales. Very important stuff. Weve got it for you after this. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Who used expedia to book the Vacation Rental<\/a> that led to the ride which took them to the place where they discovered that sometimes a little down time can lift you right up. Flights, hotels, cars,. This is Something Big<\/a>. This is Something Big<\/a>ger. [ movin on up by primal scream ] that is big. Not as big as that. Sure thats big. Thats bigger. Big. Bigger. Big. Bigger. Big. But thats bigger. Wow, big. So much bigger. This is big. But thats. Well, you got this. Stuart friday morning. We have latest numbers on existing home sales. Realtors, pay attention, susan . Susan positive number in the month of may. Existing home sales make up 90 of the market, 5. 34 million by the way. Stuart annualized basis. Susan month on month. Year to year is up 4. 8 . On top of that, lets look at, home sales up 2 1 2 , month on month sequentially. Were looking at 14 straight months of declines. This is a turn around for month of may. You know why . Mortgage rates, 30 year fixed at 3. 84 this week. It has been hovering 3. 8, below 4 , Something Like<\/a> that. That draws in buyers when paying less in mortgage payments. This is positive number for the u. S. Housing market which makes up 20 of u. S. Gdp. Stuart i think it is positive numbers for all realtors who watch this program. They are legion, so im told. That is the latest on housing. Susan strong, very strong. Stuart 4. 8 year on year. Lets have a look at the market. Were still down just a tiny fraction, big rally yesterday, were down 10 on the dow, down 25 on the nasdaq, that is 1 3 of 1 . There is losses in technology this morning but the rest pretty much flat to slightly lower. Now this. Joe bidens campaign it is in trouble. That means the democrats are in trouble. If his problems take him out of the race, who is left to run against the president . Just the socialists. No wonder is there is internal dissent among democrats. After all if it is not biden, can bernie or Elizabeth Warren<\/a> win . Put me in the skeptical column for that one. I dont care what the polls say today. What is joes problem . Answer, his past. And his attempts to reverse, explain or reengineer all of the things he has done and said in the last 46 years in politics. This week, his problem is his association with segregationists in the 1970s. Back then he sought their help in opposing busing to achieve racial integration in schools. On wednesday biden said i, it was just relationship, he had to put up with it. Back then he written letters saying he was flattered and grateful to the segregationists for their help. Those letters now emerged, joe has a problem. In todays Democrat Party<\/a> hard to be moderate on the issue of race. You cannot be moderate on abortion either. That is why biden had to reverse his position. For 40 years he supported the ban on taxpayer funding. He is now withdrawn that support. A few months ago he said Vice President<\/a> pence was a decent guy. He had to apologize. No democrat is now allowed to say anything nice about anyone in the trump team. He supported the 1994 crime bill. So did bill clinton. 25 years later that bill gets blame for mass incarceration of africanamericans. Now he says, i havent always been right. And then this climate change, uhoh. Joe biden wanted a middle of the road policy that didnt last long. Bernie sanders said, there is no middle ground. Joe caved, and signed on to the fantasyland of the green new deal. Next week the democrat debates begin. Joe biden will have a tough time of it. He is the frontrunner. He will be attacked and his opponents have plenty of ammunition. Then it will be on to the primaries, he will have to run the gauntlet all over again. You think activists who dominate primary voting will give him an easy time . There is no way. The democrats seem to believe, if they push biden out, a far left candidate can win. I dont believe it. If he is out, do not assume that another democrat gets in. Trumps prosperity beats socialism, period. We usually go to animation then, no, not this man is on the show. He is the doug schoen, Fox News Contributor<\/a> and a democrat. We are paying this man. Virtually, 99 to 100 agree with you. What is happening to biden is devastating for the democratic party, stuart. Stuart really . Spell it out. Look this is centerright country. This is not a far left country. Were not socialists. Swing voters are the no socialists. If we knock out only guy who set look donald trump by double digits, Elizabeth Warren<\/a>, Bernie Sanders<\/a>, mayor pete, theyre not going to be able, in my judgment to beat donald trump. Stuart i just, i dont think, former Vice President<\/a> is a bad guy. Im supporting him now. Of course he is isnt a racist. He was working with them on things like Voting Rights<\/a> act, civil rights act, what he said mall adroitly certainly, i needed to work with these guys to get positive change. That is what he was trying to say. But for cory booker and kamala harris, the rest of them to jump on him. They know he is a good guy. I know he is a good guy. You would think he is a good man. Stuart i agree. We would have a great election between he and jump. It would be a godgood debate, solid debate, one i could go either way. This is only hurting democrats. Stuart without a lot of people on the program saying joe biden not make it all the way through, all the way through the debates and nominating process, that he is not going make it all the way through, in part it is a energy problem. Now he appears to have policy problem and historical problem as well. Do you think he makes it all the way through . I hope he dues but i fear the left as you correctly said which votes in primaries will try to knock him out. Since he is maladroit with his language and raising issues dont need to be raised, talking about segregationists he is hastening that possibility. So something two weeks ago i would have said was virtually impossible i now say is within the realm of reason. Stuart if it is not joe biden, is there any other democrat who is in the race who you would consider a moderate, i mean middle of the road person, who could actually win the nomination . Is there such a person exists . As i look today the answer is no. Stuart are you still a democrat . Im still a democrat but i want somebody to vote for. I can be enthusiastic about joe biden. I was enthusiastic about Mike Bloomberg<\/a> who chose not to run. Candidly we need, moderate progrowth democrats who are inclusive and want a social safety net. Were not getting that. Stuart Bernie Sanders<\/a> or Elizabeth Warren<\/a> would you vote for trump . Not sure i would vote for trump but sure wouldnt vote for them. Stuart that is honest answer. That is the on back to private jet to florida. Absolutely. Stuart i want to talk about china trade. President trump and chinas xi xinping will meet at next weeks g20 summit. It is in japan. Joining us cathy entwhistle. Welcome back. Thanks for having me. Stuart we get a smile for the camera, hand sheikh deal, something is going on. Next week at g20 . Stuart next week at g20. Suppose we get that. I think market would react very well but i think the economy would react real well. I agree with you. Stuart but do you think the fed would have to raise rates . I think as you heard from susan, Housing Starts<\/a> and home sales positive and gdp and growing economy we might not see that. Normally would see them about raising rates, but inflation where it is today, at 1. 6, not 2 target, i think they would wait for that. I do not see them raising rates until the enof the year. Stuart goldilocks environment, handshake deal and that seems positive to me. If we get handshake deal and rate cuts considered for mex month, i think we would see the market get excited. Stuart get excited. Go up. Stuart we are already at or near alltime record highs. Absolutely. Stuart you think we bo higher from there . Im sounding skeptical because, i have been doing this a long time and i all about the numbers. When youre cutting rate, you will get easier rates, lower rates for borrowing, for investing, longterm Capital Expenditures<\/a> for companies, i think that could drive the market up little bit higher if it happens. If we have an agreement and we have rate cuts and if we have inflation sort of staying where it is i think we could see something positive in the markets. Stuart now you have to have an outlook on this meeting the meeting is going to take place . Yeah. Stuart you think there will be some kind of a deal . I think they will have a ceasefire. Stuart what does that mean . They will stay where they are, not add anything to it, maybe roll back some tariffs. Stuart that would be a big deal, if tariffs are rolled back. Reduced a little bit. Stuart china buy as couple hundred billion dollars worth of stuff from us, that would be a handshake deal, that is what you think might happen . I think that if it does happen it will be very positive for the markets. Stuart got it. Kathy, sorry to put you in a corner, you handle i had very well. Thank you for being with us. President trump says, yes he ordered military strikes on iran but then called them off. He says the response was not proportional. Well spell it out all for you. New york state, passes a law allowing Illegal Immigrants<\/a> to get drivers licenses, doesnt that mean they will vote, backdoor voting. Some county clerks are refusing to issue licenses to illegals. Former senator al damato coming up on this program shortly. A city in florida agreed to pay a bitcoin ransom to hackers who wiped out the citys computer sim. There is no guarranty it will even work. What a story. 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. Stuart dead flat to ever so slightly higher. The dow jones average after 43 minutes of business is up one, no its not, up a halfpoint. Well take it. How about walmart . Look at that. 111 a share, they agreed to pay 282 million to settle bribery claims overseas. The stock doesnt care. I think that is alltime high actually, pretty close. Check disney, toy story four hits theaters this weekend. Might bring 200 million in the opening weekend. Disney holding well above 140 per share. There is controversial law in new york state which allows Illegal Immigrants<\/a> to get drivers licenses. I got to tell you some county clerks are refusing to issue those licenses to some illegals. Joining us now, al damato, former new york senator, a republican. Mr. Senator, great to have you back again. Good to be with you. Stuart isnt the real issue here, if you give driver licenses to illegals r opening the doors to illegal voting, that is what is going on . It will absolutely take place. Because one of the prime identifiers to give you the ability to vote, gives you residence, et cetera, has been and is a driverss license. What do you think a clerk is going to do . Someone comes in. Gives them a drivers license. They cant ask for anymore under the law, that exists today. That is bonafide of proof, that you are a legal voter. A voter. Stuart but you can do that. Oh, yeah. Stuart it would be illegal, it would be illegal if an illegal did that in the voting booth. Yeah. Stuart there is virtually no check to stop them. How will you stop it . You cant stop it. Just no way, they have provided no way to check on this. They havent said it cannot be used, be punished if you violate the law. The law as it is now provides that if you show that license, youre bonafide. Stuart we have some county clerks who are saying no, were not going to do this. Right. Stuart what happens to them . They will wind up in court and the chances are, i would say, the chances are that the judiciary will say this is the law, you have got to issue the license. So you are opening the door. But that is not the least of it, right here in new york city. You know what they did, they passed a rent control law which is going to create the abandonment of apartments because now, if somebody wants to repair, owner wants to fix up the building, he can only get 2 for the money he invests in the improvement. There will not be any improvements. What you will do is create slum situations. You are going to have people losing housing instead of gaining it. That is the kind of stupidity that the legislature engaged in. Stuart that is what happens when a state is run entirely by the democrats. New york state is entirely democrat state. Im inclined to ask you, senator, what happened to the Republican Party<\/a> in new york . It doesnt exist any longer . Let me tell you, youre right. Essentially this last election wiped out the last vestige of some control. That was the republicans who had come along with the democrats, a number of democrats to form a coalition. That coalition doesnt exist. The democrats control the senate and the assembly by large margins. It is not just that theyre democrats who have a leftwing. Stuart right. That doesnt think, because if they were thinking about protecting renters, they wouldnt pass this law, which makes it impossible for investors to invest in good housing. Stuart do you still live in new york or have you gone to florida, yet . I live in new york. My two babies are here. I am here as long as i got them here. Stuart senator, great to see you fenn. Look forward to it. Stuart dont be a stranger. Thank you. How about this one from google maps. Millions of fake businesses are listed on google maps. See it all the time. They make money out of that. Were going to tell you how that works in a moment. When i got my dna results, it opened up so many doors. Its a lifelong adventure finding all of these new connections all the time. New features. Greater details. Richer stories. Get your dna kit today at ancestry. Com. The nations largest seniorliving referral service. For the past five years, ive spoken with hundreds of families and visited seniorcare communities around the country. And ive got to tell you, todays seniorliving communities are better than ever. These days, there are amazing amenities, like movie theaters, exercise rooms and swimming pools, public cafes, bars, and bistros, even petcare services. And nobody understands your options like the advisers at a place for mom. These are local, expert advisers that will partner with you to find the Perfect Place<\/a> and determine the right level of care, whether thats just a helping hand or fulltime memory care. Best of all, its a free service. There is never any cost to you. Senior living has never been better, and theres never been an easier way to get great advice. Call today. A place for mom you know your family, we know senior living. Together well make the right choice. Stuart returned to the upside, only just. The dow right now is up 12 points. Carnival cruise lines, the Trump Administration<\/a> has banned cruises to cuba. That could hurt their bottom line. They came out with a rather dull outlook yesterday. That took them down yesterday. Theyre down another 4 1 2 today. Carnival is all the way back at 46. Crocs, on their way for the best day in six months, look at them go, 6 higher. Got an upgrade on its quote, robust clog lineup. There is a recommendation. Dont you love them clogs . A lot of misinformation on google maps. That is not stopping google from making money out of this misinformation. Susan, lets define what is misinformation . Susan the wall street journal did an investigative report on google maps, they found, for instance, if you have a repair shot list at 11 wall street on google maps, if they find out difficult repair shop than actually listed. Now in the wall street journal report they found that in mountain view, california, the hometown of google out of 12 addresses for personal injury attorneys, only one was actually correct. Phone listings as well, they have the wrong phone numbers to actual competitors livessed on google maps instead. So a lot of these companies have complained in the past, a lot of these listing companies, including yelp, this is anticompetitive from google. People are complaining, in some cities 11 million of these fake addresses or fake phone numbers popping up each and every day, you make money from advertising you have to pay in order to list numbers and addresses, should google have this advantage, especially when they control 37 of the online ad market . 116 billion a year that they make in revenue when theyre not doing it accurately . Stuart i agree with you entirely. You have to be accurate on this stuff. No excuse for that kind of inaccuracy. Susan when it leans towards the other competitors, right . I mean, not good for consumers. Stuart i wouldnt be happy. All right. Susan, how about this one a city in florida paid 600,000 in bitcoins to hackers who breached the computer system. The hackers paralyzed this network. Its a small suburb, palm beach, 80 miles from miami. You mentioned the price, 600,000 will be there. Takes 65 bitcoins to be precise. The police and Fire Department<\/a> were handwriting on paper and pen 911 calls. To the extent of municipal system completely frozen, so the hackers target their small municipalities, because they dont have resources of bigger cities. It has proven profitable for them. Department of Homeland Security<\/a>, ransomware is now the Fastest Growing<\/a> malware threat. We think of big breaches, sony, ones grab all the headlines, but these smaller, small targeted ones perhaps employees may be less informed how to protect themselves. One employee clicked on a email link. That is what set off the whole malware system. They have been wrestling for three weeks, do we pay, not pay. At the end of the day they will pay. They need it. Municipality functions are frozen. Stuart with bitcoin you cant trace where money went. Hackers one and poor little city zero. Stuart that is problem for bitcoin. Susan money laundering. There is a lot of negative publicity. To your point no way to track it, if you want to trade arms, people, drugs, it is very easy way to do it. Stuart i have got a problem with that. Deirdre, thank you. President trump said he is ready to retaliate against iran but he called off the mission he received last minute intelligence that the iranian leadership did not authorize the drowning of one of our unmanned drones. Quite a story. Usa beat sweden 2 nil. That they are the clear frontrunner. Brian is with us. Well be right back. Sgt. Peppers Lonely Hearts Club<\/a> band stuart i like it. Play it super loud volume on this thing. The base is terrific. Susan has a lot of base, right . Stuart you are mocking me, and i know it. Susan [laughter] stuart great song. We have to move on, however. The dow industrials are up, not much but were up again. Up 200 yesterday. Up 200 now. Look at level of 26,774. Not that far from alltime closing high. President trump is tweeting this morning about how he called off that retaliatory strike against iran, called it off at the last minute because the response, our response to the attack on the drone was not proportional. General jack keane had some insight on that last hour. Listen to this. They received Additional Information<\/a> that followed the president s instincts. If you remember, when he was in the oval office, you know, my instings tell me this could have been a mistake possibly. But, later, they got information that confirmed just that. That the Iranian National<\/a> leadership was furious with the tactical commander who shot down the drone because they clearly did not want that provocation to take place. Stuart fascinating insight from a man who knows. This man is steven rogers, former senior military Intelligence Officer<\/a> on the Fbi Joint Terrorism Task<\/a> force. Welcome to the program. My pleasure to be here. It may be raining outside but sun is always shining on varney company. Always. Stuart you practiced that last night sitting on my right side. Lets get right at it. Yes, sir. Stuart seems to me the president does not want to attack iran, that his preferred policy is containment, am i right . Youre absolutely right. Varney, the president has been very consistent letting the world know he is not interested in going to war with anyone. He has demonstrated extraordinary leadership in addressing this issue. When the news broke that the president stopped the military operations going into iran as general keane, myself, my instincts said, wow, he got intelligence overnight. He got intelligence that allowed him to say hey look, were not going to do this. Stuart he found out that the senior iranians were really angry at the local commander who fired off the shot that brought the drone down. He found out also that the three targets he was about to attack would have killed a lot of people. He didnt want that. That is right, varney. He went back to military 101. They say he is not a military guy but military 101, give the opposition the opportunity to bow out gracefully. When he stated, probably a rogue general on the ground, i was sending a signal to iran. Here is your chance. You made a mistake, a chance to back out saving some face. In addition to that, we have a president who is not interested in killing people. He is interested in diplomacy. Interested in fighting a war across the table. He is very concerned about the collateral damage. To his credit he put a stop to that. Stuart i think perhaps a more pressing and urgent issue is john bolton, next week, going to israel. I think this is all about irans plan to keep, to enrich uranium over and above the limits set in the deal with on iran nukes. I think john bolton is either going there to say to israel, we got your back, if you attack iran, or he is going to say dont attack iran because the president doesnt want it. Which is it . I believe he is going to israel to confirm to them that were going to watch their backs. Look, Israel Stuart<\/a> thats a big deal, mr. Rogers. That is a big deal. It is. Stuart because if we say we got your back, they will attack because they dont ever want iran to get a nuke. Look it. The survival of their nation is at stake here. Iran gets a nuke, theyre committed to destroying israel. Keep in mind that, you know, for the president to do what he did, lets make sure, and he is going to make sure that north korea and other nations dont understand that as a signal of being weak. We are a strong country. We will use our military when necessary, but with regard to israel look, our best ally, our most coveted friendship, im sure were going there to say if you do what you have to do you can count on us. Stuart do you think the israelis say we got to do what we got to do . If they feel their nation is imminent danger, yes, they will not hesitate. Stuart that is the real crisis here . Yes it is. My opinion based on the history of israel and their relationship with our nation but i got to tell you its a different story, their nation, entire nation is at stake with regard to iran. Stuart sir, it was a pleasure having you on the show and in new york city. I love the sunshine here. [laughter] stuart thank you very much. Thank you. Stuart i will interrupt here with breaking news. Apple has filed to be exempt from the next round of tariffs on china. Do have anything more . We certainly do. Apple is the largest u. S. Corporate taxpayer to the u. S. Treasury. Pays billions in state, local, federal taxes, employee taxes. They say the tariffs would reduce apples contribution to the u. S. Economy. I will quote here this letter from apple, we announced our intention to make a total direct contribution to the u. S. Economy of 350 billion over five years. Were on track to achieve this contribution. We are creating new jobs in the u. S. We are opening several new sites in the u. S. So essentially theyre saying we deserve to be spared. Stuart by the way, i think it was 10 days ago tim cook was in the oval office speaking with President Trump<\/a>. I have to think that this was part of the backstory here . I think this is the result of that conversation. Stuart very positive for apple, for the whole idea of tariffs and china trade. Very practical, saying tariffs will hurt our ability to contribute to the u. S. Economy as we do. Stuart apples stock has not ticked up that much, up 40cents but pretty close up to 200 a share. The dow industrials ticked up a fraction. Were up 32 points for the dow. Maybe that apple story has something to do with it. Now this, amazon, wait a minute, wait a minute, amazon is getting into the travel business . How are they doing that . Susan wow. In india they quietly launched a test service happening in india as we speak. Airlines are concerned that amazons quiet launch selling domestic plane tickets that theyre encroaching businesses possibly in the future of expedia or other Online Travel<\/a> Companies Like<\/a> priceline this goes under the category should you be worried if amazon getting into your industry, Kind Pharmaceuticals<\/a> and grocer with the whole foods purchase. Were saying amazon selling discounted flights right now in partnership with clear trip in india. This offers discounts, deep discounts to prime members. Stuart theyre doing it. Amazon has bonn into travel before, remember in 2015 when they were offering destinations, that is when they were selling hotel rooms, say napa valley or highend hamptons resorts that didnt work because they shut that down in 2015. Not everything amazon gets into works all the time but should you be worried when 1000pound gorilla gets in . Yes. Stuart that is good. A good last line, susan. Well tell you which universities are changing the the admissions process to stop the gaming the system with the college scandal. That is the story. We got it. This is Something Big<\/a>. This is Something Big<\/a>ger. [ movin on up by primal scream ] that is big. Not as big as that. Sure thats big. Thats bigger. Big. Bigger. Big. Bigger. Big. But thats bigger. Wow, big. So much bigger. This is big. But thats. Well, you got this. Stuart nowhere market for the moment. Were up to 26,780. Show me big tech, please. Look at this. All are on the upside. I will concentrate on apple for a moment. That is moving a little higher, awfully close to 200 a share. As we reported moments ago, they filed for an exemption from the tariffs on china trade. That is helping them. The stock again right at 200 a share. Look at microsoft, now it is above 137 a share. That has been the best former of the big techs i believe in the month of june. They performed very well. Im happy. The university of california changing its admissions process in the wake of the admissions scandal. What are they doing, deirdre . They went through the internal audit saying we need to change a few things, ucla, uc berkeley were directly affected. They will have better policing of fraud, conflicts of interest. If you apply, conflict of interest, you will be flagged. Basically theyre looking for stronger verification of claims on applications, potential lines between donors and applicants, stricter scrutiny of those admitted for special talents which of course include artists and athletes. As we know some families were literally photoshopping their childrens heads on athletes and sending them in. Numerous people were charged with several felonies over this. Stuart i dont think this is over. This is not the only. This is not the only school system. Theyre targeting them saying what they were doing about it but they are not only ones. Stuart i want to say, this person a bribe facilitator, dont get me wrong, he was helping in the scandal, he handled 741 or 748. A massive numbers. These College Consultants<\/a> charge as much as 1000 an hour or flat payments we since learned stuart its a bribe. Add up to millions of dollars and other perks. Stuart that was the worst publicity for elite universities. Certainly was. Stuart elite applicants that you can possibly imagine. People always knew if your family donated money then your family name would be on a library wing, love it or hate it, at least other kids bet to use the library, all unfair but all transparent. This where you had people actually taking an s. A. T. Or act for the child or going back in changing that childs result, that was a level that nobody could even imagine was happening. Stuart no. Bad for the kids. Bad for the school. Bad for the parents. Bad image, you name it all across the board. It was just bad news. Okay, on your screens the big winners on the nasdaq. This is quite a day were having here. Netflix reached 368. I see dollar tree up again, intel up, facebook, reached 190. Been much higher than that in the past. Cisco systems, that is up as well. Now these are the winners on s p 500. I dont know what that stock is. Darden did restaurant is Parent Company<\/a> of olive garden. Great italian according to our producer. Stuart we have a bone to pick with them about italian food. Keycorp, chevron, goldman, jpmorgan, walmart, cant read exxon mobile. Oil doing well. Finance ago doing well. Across the board stock prices are holding at or near record levels. Aint that something when you got something all this stuff going on in the background in iran and china and north korea . It is up there, 26,787 for the dow as we speak. An ecigarette reportedly exploded in a teens mouth. Horrible story. Stuart damaged his jaw . Certainly did. This teen and his family happened to live in rural area in nevada. The parents drove him 200 miles to a Trauma Center<\/a> hoping it would live. They literally heard a pop in another room. He phrasally fractured his job. Blood everywhere. Pediatric surgeon said looked if he had a hole in his jaw. People not talking about the products. They can burn you, explode in your pocket. Some with lithium batteries mix poorly with couldnts can explode in your face. Some with lighter fluid are unstable. We welcome the movement as people try to quit smoking which by the way larger context for this story. The mom bought this ecigarette device for her son hoping he would quit smoking cigarettes. However it did not end well. Stuart what a dreadful story that is. Do we have mr. Dehaan on the phone. Do this first. We have important item to bring to you. First this. Mcdonalds testing robot fryers and voice activated drivethroughs. I can see this. Susan it is important from a labor perspective, right . We talk about automation, oozing jobs as you push for 15 an hour, there are stats out there we could lose a third of low income, lowskilled workers. Right now mcdonalds. Stuart more technology coming to replace workers who will make 15 bucks an hour. They cant bring in a profit. Also speed of service, drivethroughs, things fairly easy to make robot can do it. Susan streamlining men use to today that. Stuart let me get to this real fast. Extraordinary video overnight of a massive explosion of oil refinery in texas. That is video. A fireball going straight up in the air. It could affect gas prices on the east coast that is the biggest refinery on eastern seaboard. Patrick dehaan from gas buddy. He has more. Will we see any kind of increase prices on gasoline in the east because of that fire . We certainly could, stuart. This changes everything. We talked about less than a week ago prices look like they would go down. We have a tanker attack last week a drone shot down this week. Now spectacular explosion we saw overnight. We certainly could see the National Average<\/a> start to move up just in time for when most motorists hitting the road, that is july 4th. Stuart any kind of estimate how much per gallon prices will rise on the eastern seaboard because of this fire . I must caution you it is a little bit early but we could see prices drift up by maybe five to tencent but stuart, this is so early on, could get much worse, depending how much damage there is and how long the refinery is down. 30 of east coast capacity comes from one refinery. Stuart that is enormous number. Patrick, thanks very much for jumping in real fast. We appreciate it. What you have to say is very important. Got it. Thank you patrick dehaan. Completely different story now. Joe biden i think the mans in trouble, his campaign i think is in trouble. He is spending a lot of his Campaign Time<\/a> putting out fires. I will get into all of this with Brian Kilmeade<\/a>. He is next. Experience the style, craftsmanship and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 month for 36 months. Experience amazing at your lexus dealer. 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 the market is picking up a little ground despite all that is happening around the world. Were up 52 points at 26,800. Brian kilmeade joins me now. He is the host of the Brian Kilmeade<\/a> radio show. Before we get going in our discussion, i want to show you and our viewers what President Trump<\/a> said about joe biden. Roll tape. Joe biden, he looks like he is just exhausted. I dont know what happened to him, but he is exhausted. He doesnt do any work. He is not working. Stuart brian, a lot of people say he will not make it all the way through, doesnt have the energy to make it through to the nomination. What say you . Im one of them. Forget age, Bernie Sanders<\/a> you have great energy. You could run for president four years or eight years from now. Stuart varney comes here in jeans, youre like shot out african none. At end of the day youre still going. I look at Bernie Sanders<\/a>, President Trump<\/a>, they dont stop. But joe biden doesnt have the energy. Number two is, his handlers dont want him to have that engine. He makes so many mistakes. Already the touchyfeely explanation, joking about it next day on stage off script. What he said about china, not really a competitor. Come on, man, remember that . Now you have him going to a fundraiser, going back to the days of segregation using something as analogy which is obviously a huge mistake. He is not a racist but his opponents have a clear shot at his jaw. Stuart but look, if biden is out, if it at some point he is out of the race, what are the democrats legitimate with . Theyre left with the far left, theyre left with socialism. That is all they got. I maintain bidens problems are really problems for the Democrat Party<\/a> in the forthcoming election. What do you say to that . Yes. And alexandria ocasiocortez interview with Jonathan Karl<\/a> on this week with george stephanopoulos. He had so much reluctance, if he gets the nomination, i guess i will support him. She represents, whether you love her or not, a lot of people on the left. Bernie sanders never got on the Hillary Clinton<\/a> train. This guy, when Bernie Sanders<\/a> loses, it is inevitable, i dont see him rally. When, if joe biden wins, i see no reason for anybody else to go with him unless they want to be Vice President<\/a>. So theyre in a huge school of hurt. People say it is like the tea party . Not really. This segment on the left is a lot bigger than what is in the middle. Stuart you got it. Brian, talk to but the u. S. Womens soccer team. As you obviously know they beat sweden 20 yesterday. They will play spain monday in the round of 16. Im following this closely. I know you do too. Team usa looks strong. They have a real shot taking it all. Do you agree . Especially against sweden. Fitness was evident. Depth on the roster is so great. Carley lloyd, who has been with the team longer than anybody else, tied with mia hamm for scoring record or abby wombach. She said this is tight as unified team i ever been on, she is coming off the bench. They look lethal. Know how quick in soccer that can again. We know about 130. I thought never should do it, disgraceful. Winning 30, 20. Set up to play spain on monday. Spain is 111 coming in. This looks like the deepest, moat athletic, most determined squad to date but well see what has to be done yet. I love the fact that they already had seven new starters in game 2. That almost never happens. Stuart bench strength. One last one, im all in favor the womens team getting equal pay, getting money out of this, because theyre performing so well and revenues are great. 10 seconds to agree with me . If the revenue, if the revenues is equal, yes. But if the revenue and sponsorship and tv rights isnt, how can you do it . I cant force, mls soccer to give same payout as football, even though same athletes. All i say, adidas, puma, pony up the same money you pay for the men, distribute it the same way. Should be percentage of what is earned but, man, all for what they accomplished. Stuart got to go. You know how hard it is hard break. I have no idea what youre talking about. Stuart hard break. Worlds largest pot, as in marijuana company, Canopy Growth<\/a>, the sales went down in canada . What is going on . Well ask the ceo whats going on. Well be back in a moment. 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 when youre on tv, three hours live, doing a financial show, five days a week, a lot of people want to talk to you about their money. Recently, the questions have a common theme. Whats with this market . Why does it keep going up . I try to avoid direct answers, because i dont want to try my hand at stock Market Forecast<\/a>ing, thank you. But i understand where the questions are coming from. Thursday morning, for example, headline news, an american drone shot down by the iranians. Technically an act of war. The price of gold shoots up, a sure sign of anxiety. Money pours into treasury bonds. Another anxiety signal, but stocks straight up, right from the opening bell. Okay, that was motivated by a soft line from the fed about Interest Rate<\/a>s, but the way the mideast news was ignored, that was striking. Same again today. We woke up to news that our planes were in the air, our ships were at sea heading for a strike against iran. Then came the order to stand down. Clearly its a faceoff with the enemy and thats something that investors might be expected to react against, but no. There has been no significant pullback for stocks. They remain at or very near to their record levels. Whats with this market indeed . May i try to explain without issuing a stock Market Forecast<\/a> . The bottom line to me is this. The market moves in line with the profits that corporations are expected to make. Investors look to the future. Is this Company Going<\/a> to make money or not. Profit is everything. So long as iran, impeachment, investigations, the crisis at the border and all the other troubles of the day, so long as they dont hurt profits down the road, investors will largely ignore them. When china trade or mexican tariffs look likely to hurt us, the market went down. If and when those problems go away, the market keeps going north. So long as the fed encourages growth, the market keeps on going north. You see my point . Investors judge all news events by their likely impact on profits. Whats with this market . I hope ive kind of answered the question. We are, after all, a financial program. Stuart following on my theme from that little editorial there, look at this. Now were up 73 points, despite iran, despite all the rest of it thats going on. 26,826. Thats where the dow jones average is now. We were up 200 yesterday. Look at this. We are watching Interest Rate<\/a>s very closely. The yield on the tenyear treasury is now at 2. 05 . The money is still coming into it. How about oil . Up a few bucks overnight, 57 a barrel, thats because of iran but thats by no means a spike in the price of oil. 57. 49 right now. Take a look at the marijuana stocks. Sales of cannabis around the world could reach 15 billion this year, maybe 45 billion in five years. Big market. Take a look at Canopy Growth<\/a>. Earnings came out yesterday and their sales of Recreational Marijuana<\/a> actually came down in canada. The stocks up 8 this morning. Bruce linton is with us, Canopy Growth<\/a> ceo and frequent guest on the program. Great to have you back. What happened in canada . Sales of recreational weed down . What happened . So a couple things. We basically sell, if we grow it in this quarter, twothirds of what we sold in the next quarter and the rampup was a combination of the stores getting ready and us having the product people wanted. Its kind of down but its basically flat. Whats coming through right now is the demand is increasing as the stores open up and as we get to q4, rather than selling dried cannabis or oils in the gel cap form, we start being able to sell beverages, vape pens and edibles. Its a layering on of new products, more growth, so i would say the markets reacted more like retail markets. Whos selling today is mom and pop and whos probably buying is institutional. Because if you look at our sector, its just growing and getting bigger globally and its just starting. Stuart do you think maybe theres some pushback against Recreational Marijuana<\/a> . I notice that new york just tabled legal pot until next year. Legalization efforts seem to be slowing. Theres a lot of pushback coming here. Youve got to be looking at that. Youve got to be thinking i dont like this. Yeah, i would say the pushback should only come from people who are making a lot of money by operating illegally. Were not introducing cannabis, right. This exists. What governments are trying to do is regulate it. In canada, they have actually pushed through the next wave of topics which are going to be the beverages i described and other formats. We are seeing globally medical research is a big deal. We dont need the world to turn into a party. When you look at, weve got 60 Clinical Trials<\/a> we have either started or are about to start. So we can try to figure out how do we make people sleep better, how do we make adults in longterm care, you know, be less anxious, things like that. So i think, you know, this is just a flow of growth but its a lot of capital we put out. We had a business in q3, 2018, that was running about 600,000 square feet and had about 55 gross margin so good business. What we did is got 5 billion from constellation, began spending it and are now turning that up. It takes money but also dilutes your margins. Now we can think they will come back to where they were so this is shortterm selling. Were not the stock you buy in the morning and sell in the afternoon. Its the sort of thing you say i think this is a big topic for the next ten years. Stuart i introduced you as you are the Biggest Marijuana Company<\/a> in the world. Is that accurate . I guess i should refine my terms. Are you the biggest growers of legal weed in the world . You are . Correct. We are the biggest Legal Marijuana<\/a> producer, when you measure by total amount produced, market cap, head count, all the functional things, Clinical Trials<\/a>. And were just using this window, im not saying we are amazon, but amazon spent a lost time creating a lot of value and rewards came as they now turn up amazing systems and offerings people cant live without. What we are trying to do is use this window of time which is a once in a lifetime for this type of topic to create something that is very durable, and durable means intellectual property. Weve got 90 plus patents issued now. It means spending. Stuart big company. Bruce linton, Canopy Growth<\/a>, thank you for joining us. Thanks, stuart. Stuart couple of quick corporate stories for you. I will start with amazon. Im intrigued at this. They want to use their drones for something other than deliveries. Hold on. They are going to surveil me . Deirdre yes. Surveillance as a service. Its the patent they have applied for. The caveat is that amazon has a ton of patents that never see the light of day so this one is going to have to be debated, but the idea is basically they are going to give you an update on everything thats going on on your property. So somebody is graffitiing something on your wall or theres a fire in a garden shed or somebody is trying to break in, you will know about it from amazon. Go ahead. Stuart sorry, im just introducing interrupting here because i see, lefthand side of the screen, the dow has just passed its alltime closing high. Okay. Lets not get confused with the intraday high. Dont care. Its past the alltime closing high, up 112 points. Susan there are positive comments from the Vice President<\/a> mike pence, who says they are making progress on china trade. Thats helping boost all three benchmarks, hence we are up triple digits for the dow. Stuart thats it. It had to have been something. Sorry i interrupted you. Deirdre not at all. Stuart there had to be something because all of a sudden im looking up, i have a big screen here, there we have it. Triple digit gain all of a sudden. Its mike pence, Vice President<\/a> , progress on china. Susan on china trade. Deirdre looking forward to the g20 in japan, where we have of course president xi jinping, President Trump<\/a> meeting. Stuart yeah. Look at it go. Earlier, we had news that apple has asked for an exemption from china tariffs. That was a plus for apple. Apple is a dow stock. Apple went up a little bit. The dow went up a little bit. Now weve got this thing from mike pence and we are up 126 on the dow industrials. Surpassing the old closing record high. Its a milestone, folks. You just hit it this friday morning. Its been an extraordinary month. Deirdre extraordinary week. Yesterday, s p 500 new record. We are going up and up. Susan the dow stocks hitting records today, walmart, visa. Its up and up thanks to also indications we are going to get a rate cut pretty soon. Stuart i want an update on the big ipos from yesterday. Show me where they are. Start with Grocery Outlet<\/a>. That went up nicely yesterday, only a 2 pullback this morning. Check slack. That was up very nicely yesterday. Very slight pullback, just 1 down as of this morning. The overall market, put that back on the screen, please, because its going straight up. Now weve got the dow up 153 points. That puts it at 26,900. You are in the middle of a rally. It just started. All of a sudden mike pence says progress with china trade, up she goes. You are very close now well, about 100 points away from 27,000. Susan the s p just hit a new intraday record high. Assi stuart there you go. Broadbased rally all across the board. Stocks up. 26,951 is the alltime high. That will be the intraday high, if you want to be technical, but 26,951. If we get past that, we have broken another dow record this morning. President trump getting ready to issue a new executive order on drug price transparency, as its called. We will talk to secretary, hhs secretary alex azar. I want to know, this executive order, is this kind of a back doorway for the president to get something done on health care . We will ask him. San diego making real efforts to clean up the homeless problem in that city. They have cleared 3,000 tons of trash off the street and built a shelter. The mayor of san diego is with us this hour. President trump says he has support from the Latino Community<\/a> because of his tough stance on immigration. We are talking to daniel garza in a moment. He says President Trump<\/a> is better positioned with latinos than in 2016. Hes on the show after this. Your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. I come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. 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Stuart we told you that Goldman Sachs<\/a> had lowered their price target for teslas stock. Well, now it seems they are pouring salt into the wound. Deirdre yeah, they are saying Second Quarter<\/a> sales for tesla are as good as they are going to get, so this is really a backhanded compliment. Really not complimentary at all, saying this is the High Water Mark<\/a> and they are saying we dont think tesla can really execute from here. We know the model s, the model x, the model 3 and the model y which is a crossover suv, is slated to come out fall 2020, and goldman is raising questions of how much demand there will be and at the same time, as we know, tesla has difficulty with the manufacturing process of actually meeting deadlines, getting the cars where theyre supposed to be on time. I want to mention as you highlighted there, we are watching the stock at 220. The 158 per share mark for goldman. Stuart goldman said they will go down to 158. Deirdre 30 off. Stuart got it. Next case, the Trump Campaign<\/a> will kick off their latinos for Trump Campaign<\/a> with a miami rally next week. The president is not going but Vice President<\/a> pence will be there. That said, President Trump<\/a> did play to hispanic voters in an interview on telemundo. Roll that tape. I want to talk to you about the immigrants. You have been very tough on them. One of the things that you did you know my poll numbers with hispanics . Went up 17 points. Well, okay. Explain that. I have been tough. Yet my poll numbers with hispanics have gone way up. We went up 17 points. You saw that. I went up 17 points because im tough at the border. Because the hispanics want toughness at the border. They dont want people coming and taking their jobs. They dont want criminals to come because they understand the border better than anybody. Stuart you really didnt want to say that. That man is daniel garza, Libra Initiative<\/a> president. Welcome back. Always good to have you on. I have to ask you, why should hispanics vote for President Trump<\/a> when its widely assumed that the president had insulted hispanics right from the getgo . That was a projection from a lot of folks, when he first launched his campaign that obviously it was inartful, the language that he used, the words that he used, but since then, he has positioned himself much better with the Latino Community<\/a>. Theres more of a relationship now. Theres a track record. I think latinos are seeing that he has lessened the burden of taxes and regulations, theres energy production, he has appointed judges that latinos agree with who are going to honor original intent, so i think theres a lot of opportunity here, especially because of the increases in jobs and opportunities. Stuart it seems to me hes not looking at the ethnicity factor here, its not identity politics, its voting for prosperity. Its voting for a growing economy. Thats the appeal, isnt it . Thats what americans are seeing. What is an administration doing to create a climate that is progrowth, that is proopportunity, and that everybody is getting a square deal and equal opportunity. I think this president has shown himself to do or to advance a lot of these progrowth policies and latinos are for that. Stuart we assume the Latino Community<\/a> is monolithic but its not. There is a Mexican American<\/a> vote, a puerto rican vote and also a cuban vote. I noticed that rally will take place in miami. Thats the center of cuban politics in america. I think the president already has the cuban vote, doesnt he . Well, he does traditionally, the cuban vote has always voted a bit more gop. Theres no question about that. But i think its also symbolic that hes doing it in miami because it is a gateway for the americas and a lot of folks are fleeing socialist type policies, the conditions that these kind of policies have imposed on them and have wrecked the lives of many latinos who are not coming up to america. Honestly, i think that the democrats have a lot of explaining to do in their support of a lot of these sort of socialist type policies that have wrecked the lives of so many people and i think this debate provides an opportunity really for President Trump<\/a> to distance himself from that. Stuart what was that expression . Hes got a lot of explaining to do . You are so right. Thanks for being on the show. See you again real soon. Check the hold on a second. Yeah, look at airline stocks. Theres a lot of airlines who are doing reroutes or avoiding flights in the persian gulf or around iran. Susan because of the downing of the drone, especially close to the straits of hormuz. The faa has now warned airlines, talking about all Flight Operations<\/a> above the persian gulf and gulf of oman are prohibited until further notice due to what they call heightened military activities and increased political tension. Its not just american airlines. They canceled that flight from newark to mumbai because it has to go through and fly over that air space, but International Airlines<\/a> like australias qantas and klm and lufthansa all decided to avoid that region as well. This isnt the first time we have gotten guidance to avoid that air space. Earlier, united suspended flights from newark to new delhi because the pakistanis closing their air space. Stuart got it. Look at this, please. The military division of volvo released this concept vehicle but its for the french army. The front and back wheels can turn independently so it can move sideways like a crab. Look at that. Thats cool. I want one. Boeing joining the push to put american astronauts back in space on american capsules. The Starliner Mission<\/a> hopes to transport nasa astronauts to the space station by the end of this year. Next we get an exclusive look at the starliner capsule. We get it all on varney. Curiouser and curiouser, said alice. The rabbithole went straight on like a tunnel for some way. Ive seen a cat without a gri, but a grin without a cat. Hey, mercedes, end audio. Change lighting to soft blue. The completely reimagined 2020 gle. With Intelligent Voice<\/a> control and available third row. Your adventure awaits. Visit your local mercedesbenz dealer for exceptional lease and financing offers. Mercedesbenz. The best or nothing. Stuart Boeings Starliner<\/a> project aims to get americans back up to the International Space<\/a> station, wait for it, by the end of this year. Going up soon. Fox news at Cape Canaveral<\/a> in florida. Tell me all about it. Reporter stuart, spacex successfully did their first test flight in march and now it is boeings turn. Both of the commercial Space Companies<\/a> that are in charge of getting american astronauts launching back to space from american soil on american rockets, both companies hoping to do that by the end of the year. Boeing gave us great access inside their starliner Production Facility<\/a> an enormous building where space shuttles used to be serviced. Its now three starliner capsules in various stages of assembly. You can clearly see the shape of the vehicles that will eventually carry astronauts to space and return to earth with big parachutes and airbags on the bottom to soften the landing on land, not out at sea. All of which boeing has tested. Boeing is hoping to launch an empty capsule to the International Space<\/a> station by september and if all proves well, then launch a crude mission on the starliner with three astronauts on board by the end of the year. Spacex was planning to launch two astronauts on its second test flight next month but that has now slid, possibly all the way to november, after an april explosion of the crew dragon capsule during a test. In fact, the dragon that exploded was this same capsule that successfully flew to the space station with that space mannequin ripley on board in march. Boeings starliner will launch from the united alliances pad atop a big rocket and Chris Ferguson<\/a> will be on board the second test flight. U. S. Tax payers have invested 6 billion into spacex and boeings commercial crew programs. Its all about getting off of our reliance on russia which costs us 70 million per astronaut, and getting back to what the space shuttles used to do, launch u. S. Astronauts on americanmade rockets right here from Kennedy Space<\/a> center in Cape Canaveral<\/a>. Stuart i like the way you say that, phil keating. Youre all right. Thank you. Up next, gene munster, famed technology analyst. He says apple and google are leading the charge when it comes to technology in cars. I want to know, what am i going to see on the dashboard if i get a new car in the next few years . Whats in front of me . Gene will tell me. Hey, who are you . Oh, hey jeff, im a car thief. What . im here to steal your car because, well, thats my job. What . What . . What . laughing what . . What . what . [crash] what . haha, it happens. And if youve got cutrate car insurance, paying for this could feel like getting robbed twice. So get allstate. And be better protected from mayhem. Like me. This is Something Big<\/a>ger. [ movin on up by primal scream ] that is big. Not as big as that. Sure thats big. Thats bigger. Big. Bigger. Big. Bigger. Big. But thats bigger. Wow, big. So much bigger. This is big. But thats. Well, you got this. Stuart modest rally. Mike pence, Vice President<\/a> , said talks are going okay on china trade. He was positive about china trade. That put the market up. Now were up 85 points for the dow. Now take a look at slack. As you know, that went public yesterday. Did very well in the early going. Its only pulled back to, what, 2 today. 37. 80 is the price of slack as we speak. Tech watcher gene munsters with us. He says, wait for it, slack is redefining the way we communicate at work. So, gene, is it up from here for slack stock . Yeah, i think it is longer term. We look at this 25 billion, 30 billion type of market cap but i think that the opportunity around transforming work is large. Today, this market cap is largely based on the ability to change Communications Work<\/a> flow. Thats what they raised money on. But in the future, the company has an opportunity to use Artificial Intelligence<\/a> to help us direct our day. Basically you put input the things you want to get done and they help you actually manage the day. For example, that 30minute call youre doing actually should be 15 minutes and instead of spending 15 minutes on email, you really should be spending 30 minutes. Insights like that, nudging you in the right direction is something slack has a profound opportunity on. I think that there is stuart wait a second. Im not sure i want slack to be telling me how long i should spent writing an editorial or messaging my colleagues on varney company. Why should i take their word for whats the best use of my time . The problem is because humans get easily distracted. At the end of the day, if you ultimately want to get things done, you need nudging in the right direction. In the past its been through supervisors but in the future you could have an ai agent now, you may or may not take recommendations from those nudges but thats the basic concept is to help us just use our time better. Thats an opportunity, untapped opportunity for slack in the future of workers. Stuart do you look forward to that, seriously . Do you want a machine looking over your shoulder making suggestions about your use of time . Do you want that . I dont want that. But i do want accountability in terms of making sure that i get my work done. I think that if theres some way that it doesnt feel like someones looking over my shoulder, but in fact, im able to become more focused, that is something i would embrace. Stuart could you tell it to shut up and get off my back, ill do it my way . Can you do that . You simply turn it off. I think that would definitely allow you to do that. Stuart lets get serious for a second. You are big on apple and google and how they are integrating technology into the cars. So look forward for me, will you. If i buy a new car, say five years down the road, three years down the road, whats the dashboard going to look like . Is it loaded up with apple and Google Technology<\/a> and screens . Is that it . Yeah, its pretty exciting. When we think about the future of transportation, this is a big area for disruption from tech. Most of that conversation is around autonomy but in fact, theres a lot thats going to be happening in the actual cockpit of the car, the interior of the car. Thats what you just described. I want to quickly tell you where we are today is 90 of the cars that are sold in the u. S. Have an option to use carplay from apple. You plug with usb your phone into the car, then you would have a single screen. Starting next year, that phone will connect to multiple screens and allow App Developers<\/a> to start to build around it so theres going to be some new applications. But what is most exciting over the next five years is when we actually have a single operating system between your car and your phone, so google and apple are both pursuing this but the basic idea would be that you enter the car and you dont even think about plugging your phone in. The apps seamlessly work and the beautiful part is when you leave the car, because the car is in fact a shared device, all that information goes, private information goes along with you. So the experience is going to be very customized, very seamless, and the last piece, just to throw out there, there will be a Services Layer<\/a> inside of the car. Think of examples of ondemand insurance, better pricing on your insurance. You could even have access, allow access of your car to a third party like amazon to deliver packages to it. A lot of exciting things happening in the interior of the car in the next several years. Stuart im terribly sorry, but i do not find that exciting. I find it bloody awful, frankly. The idea that im going to turn over my life and my car and my phone to okay. Ive said enough. Gene, you know what youre talking about. Thats what we like about you, actually. Thank you, stuart. Stuart gene munster, everyone. Hes all right. He will be back. Thank you, gene. Okay. Breaking news. Here we go. Vice president pence is postponing a speech that he was going to make on china on monday. Chinese trade sources tells fox business that china was watching that speech closely to see if they will actually meet with the u. S. Thats because the last time the Vice President<\/a> spoke about u. S. china relations, he condemned china for the oppression and control of its people. The speech, canceled. I guess thats a positive sign. I think thats a very positive sign. Actually, the markets gone back up again on that news, i do believe. Susan no. Mike pence also says they are making progress as well on china trade talks. Stuart so just since that bit about the cancellation of the speech came out, thats put it back up some more. Now we are up 115 and rising. As we told you earlier, we have indeed crossed beyond and gone above the previous record closing high for the Dow Jones Industrial<\/a> average. Theres something. Another record. Check the price of gold. It is close to a sixyear high. Investors see it in terms of a flight to safety because of all the problems around iran. The price of gold is pretty close to 1400 an ounce. Thats nearly a sixyear high. Bitcoin, up to 9,800 a coin. Its a little shy of ten grand. Ive got to tell you, a town in florida shelled out big bucks in the form of bitcoins to get their computers back from hackers. How much . Susan 600,000. 65 bitcoin. And it is a suburb of palm beach, so 80 miles from miami. But there was an employee who made a mistake, clicked on a link he or she should not have, it infested this malware into the system and this little suburb was really held hostage. Policemen and firemen were writing down 911 calls with a pen and paper. For three weeks, this small town was trying to decide do we do it, do we not do it. Finally they just said we need our systems to work. We are going to pay the money. They are going to be paying it from the citys insurance policy. The department of Homeland Security<\/a> is saying this is really a very growing risk, rans rans ransomware. Stuart they hope you pay out 600,000 bucks and get your computers back. Deirdre but theres no guarantee. Obviously people who do this are not exactly operating according the a moral code. Stuart the money is gone, you cant trace it. Cant get it back. Tax analysts are saying you know the exodus from the high tax states is about to get worse. I know its bad. Why is it getting worse . Susan this is one of your favorite topics. So high tax states, talking about new york, new jersey and california, looking at a major exodus. Where are they going . Florida, texas and nevada. If you take a look at the individual one way, it looks like florida, of course, is the most popular place for a lot of these shall we say high tax refugees. Last year, florida saw movers of 63,000 coming from new york, believe it or not. Thats the biggest oneway shift from new york to florida. New york has the Third Largest<\/a> outflow of any state, 450,000 left new york because of the high taxes and a cap on salt. Dont forget, california, another high tax state, has the largest outflow of domestic residents. Where are they going . Texas, arizona, washington. Stuart why am i not surprised . Susan they have no income tax. Deirdre especially when you own your own business and can move. Stuart more news on new york. Are you looking for a new brooklyn pad . Are you a fan of hiphop . Notorious b. I. G. s childhood apartment is up for rent. 4,000 a month. Its in the clinton hill neighborhood. Three bedrooms, one bathroom, hardwood floors, a barbecue area outside. By new york standards, 4,000 a month . Thats pretty cool. Deirdre there will be a lot of interest in that. Stuart i think there will be. Listen to this. Los angeles trying to fight homelessness with more taxes. They want to tax landlords for every vacant room in their buildings. Thats one idea. Coming up, we are talking to the mayor of san diego. Homelessness is actually down in his city. What is he doing . Is he taxing landlords . I dont think so. We will ask the mayor. The department of health and Human Services<\/a> wrote a letter to congress with the department of Homeland Security<\/a> urging them to address the humanitarian crisis at the border. They want money. Are they going to get it . We have secretary alex azar next. Oh, yeah, thats gonna be a good one. playing did you know that nationwide has customized Small Business<\/a> insurance . Huhuh. Maybe thats a song. Yeah, maybe. peyton did you know nationwide is americas 1 provider of pet insurance, farms, and ranches . Now thats a song. Yeah, maybe. Oh, thats gold right there. Did you know that nationwide has an interactive retirement planner . music stops are we there yet . nationwide jingle going 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 . 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Well, today secretary of Homeland Security<\/a> and health and Human Services<\/a> sent a letter to congress saying look, the situation is dire, we want the money and we want it now. Alex azar, health and Human Services<\/a> secretary, is with us now. Can you paint a picture here of how bad this crisis is and explain to us and our viewers why nothings being done about it, why you cant get the money . Stuart, its exactly what you said. It is a dire situation. We have got kids who come unaccompanied across the border and they are coming across this year double what they did last year, and so by july, we are going to be out of money to take care of these kids. We have to shelter them, then we have to find them sponsors here in the United States<\/a> as quickly as possible but we are going to be out of money. Congress has got to pass an appropriation immediately to make this work. It is not about politics. Its not about immigration policy. Its not about gamesmanship. They just have to do this. Stuart with respect, mr. Secretary, it is about politics. The democrats are unwilling to give this money because they dont want to see a single win for President Trump<\/a>. I think im right. I dont want to sell this as a win on either side. This is really a humanitarian issue and the senate has been working in a bipartisan way, the house is working, we hope next week. We just hope we will be able to get a single package through next week immediately. We have got to fund these shelters. Stuart you are a diplomat but i will move on. Okay. President trump is going to sign an executive order monday. Its about Health Care Price<\/a> transparency. Can you explain what that is . Well, stuart, i make it my business to not preempt the president of the United States<\/a> but let me just say the president did say recently that Something Big<\/a> was coming in the next couple of weeks on health care, and i would take him at his word. Stuart is this the way that the president is kind of doing back Door Health Care<\/a> because you cant get something through congress, so he uses executive orders . Is that the strategy . Well, as you know, we have been driving through change using our administrative and regulatory powers, we are decreasing drug prices, creating more Affordable Health<\/a> Insurance Options<\/a> for people, decreasing the cost of health care, and we are doing that using the authorities that ive got in consultation and at the direction of President Trump<\/a>. Hes achieving all of those objectives using his powers. Now, we would love to work with congress, like on drug pricing. We are working on a bipartisan basis with the house and senate trying to get a package through but we are charging ahead with our own authorities and plans at the same time. Twotrack approach. Stuart can you tell us definitively that you are making progress getting the cost of drugs down . Absolutely we are. For the first time in 46 years, last year, the official measure of Prescription Drug<\/a> pricing went down. We saved tax payers 26 billion just in the first 18 months of this administration from our generic drug approvals. We are charging ahead, we are getting drug prices down and much more is coming. Stuart i wish you could get that out there, mr. Secretary, because i dont think many people understand or know what how successful you have been. What are you going to do about that . How do you get that out there . Well, thanks to you, we get a lot of the messaging out about the fact that we are just driving these changes. You know, just this morning you may have noticed in the official Regulatory Data<\/a> base here at the white house, we sent over to the white house a notice of proposed rule making to set up an International Pricing<\/a> index regime to decrease the price of drugs here in the United States<\/a>. Now, i cant go into detail on that, thats about all thats known is we sent something over here to the white house for review, but President Trump<\/a> you will remember came over to hhs and said we are going to end this foreign free riding. Other countries are buying their drugs at terrific discounts and in this one part of our program, we are not getting discounts. We are going to end that foreign free riding and stop having americas seniors propping up the socialist systems abroad at their expense and we are continuing to act. Stuart i think what you are doing will play quite prominently in the 2020 election. Alex azar, thank you for being with us this morning. We appreciate it. Thank you very much. Chief executive at google, sandar pichai, announcing they will be funneling about 1 billion into the bay area over the next ten years. This is to build affordable housing. They are looking to build 200,000 units when all is said and done. Thats google on housing. Still on the same subject, in california, im turning to san diego now, homelessness is down. Theres less of it, 6 less of it, so to speak, compared to last year. They built shelters, they cleared off the tents from the streets, they reunited nearly 1,000 Homeless People<\/a> with their family members who live outside the city. We are going to talk to the mayor of san diego, next. The lexus 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. 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 there is a homeless problem. Homelessness problem, in california, los angeles, san francisco. They have seen their Homeless Population<\/a> grow exponentially recently. But in san diego, its a different story. We have the mayor of san diego with us, kevin faulconer. Your honor, welcome to the show. Good to see you. Good morning. Thank you for having me. Stuart you have been saying, i believe, that the Homeless Population<\/a> is down, i think 6 in your city year on year. Tell us how you did that. Well, its down 6 countywide. It really is about challenging the bureaucracies that have been entrenched in the status quo and doing things differently. One of the things were doing in san diego that i think is really having a dramatic effect of getting people off the street is we have established bridge shelters with help and Wraparound Services<\/a>, a center thats helping clean up our streets and sidewalks and really, a sense of an overall attitude that says a sidewalk, a tarp or a river bed is no place for a home. Stuart thats what i want to pick up on. I would imagine that the aclu, American Civil Liberties<\/a> union, would have given you a very hard time about denying people their right to sleep and stay on the street. Did they give you a hard time . You are always going to get folks that want to push back but i say to some of those folks, we are giving people help and support. Thats what these bridge shelters are all about. We are also going to enforce our quality of life for our houses and our neighborhoods. You want people to get off the street. We need people to get off the street, particularly those that have Mental Health<\/a> issues or substance abuse. So providing the help, the Wraparound Services<\/a> is incredibly important but also, as i said before, the enforcement that says this is what we are going to accept and this is what we are not going to accept. Stuart how much did it cost . Can you give me kind of a budgetary number on how much it cost to get your Homeless Population<\/a> down . Well, i tell you, we are spending more money than we ever have because we need to. We still have a lot of work to do in san diego. Stuart are we talking tens of millions, sir . I have to ask. Yes, we are indeed, stuart. I will tell you, its money well spent. I just signed our budget yesterday, over 3 billion in san diego, and one line item alone for helping to clean up our sidewalks, remove trash, is 10 million. I feel strongly about this. I feel passionately about this. Thats how you have to run a major american city. We care about the cleanliness, we care about our environment and we care about getting people off the street and ensuring that thats happening. Stuart i know san diego very well. It is a beautiful city. Its always 72 degrees and sunny. If im going to be homeless im coming to you. Serious question. California is a sanctuary state. You welcome illegals into the state. How does that how do you balance that when youve got a homelessness problem . I would have thought illegals add to it. Well, theres a whole host of policies that unfortunately happened at the state level but what i try to do is focus on what we need to be doing in san diego. Again, you have to have political will. You have to say heres what were going to do. Stuart are you a sanctuary city . We never have been. No. Stuart why not . We take the balanced approach that i thought was right for san diego and right for the state. Stuart you are off base with the rest of the state. Everywhere else is sanctuary city. Well, i think were doing the right thing. Stuart are you doing the right thing . We are helping people, we are helping our neighbors but most importantly, we are doing the right thing for our entire city. We see the results that its working. Stuart are you a republican . I am indeed. Stuart there you go. Why didnt you say that from the getgo . Your honor, come on. Well, look, i appreciate that. But some of these things i think are common sense. Its not about partisanship. Im trying to do the right thing and show in real results and i think people are realizing that. As i said before, we have a lot of work to do but we are headed in the right direction. Stuart youve got a lovely city. Im glad youre preserving it that way. It was an honor to have you on the show. I hope you will come back, sir. Thank you very much indeed. Look forward to it. Thank you. Stuart thank you, sir. All right. By the way, it is the official first day of summer. That means its the longest day of the year. We marked summer solstice just a few moments ago, at 11 54 eastern time, the moment the sun is at its highest point in the sky. Just went past it. Its now summer. Well be back. Stuart the market is modestly higher, 6point up. I got to tell you earlier today, the big question was why did President Trump<\/a> stand down, back off from the retaliatory strike against iran, just as that strike had gotten started . General jack keane was on the show earlier this morning. He explained it. His explanation has been picked up by a variety of news sources. Now susan, tell me, what did he say . Susan said President Trump<\/a> was told the Iranian National<\/a> leadership was furious with the tactical commander that shot down the drone because they clearly did not want that provocation to take place. So it was untensional as President Trump<\/a> said that yesterday. Stuart jack keane told us, intel from the white house, the iranian high command was furious at the local commander, launched whatever it was that took down the drone. Susan right. Stuart as soon as the p found at that out, pulled planes back, pulled ships back, the strike did not take place. Susan yes. Stuart the president tweeted he didnt want a lot of casualties as well. Coming up a little later on fox business network, this man, Peter Navarro<\/a>, a very important interview. He is a hardline trade kind of guy. He is on with Charles Payne<\/a> this afternoon. My time is up. Here is neil. Neil stuart, thank you very much. Have a good weekend. We have developments on trade. Took one canceled speech from one president of the states got tongues wagging that a deal could be happening with china. We dont know that for sure. Dow is in record territory. S p 500 already is. Any gain would be another record. Blake burman at white house with more on significance of the Vice President<\/a> canceling this china speech. What do we know, blake . Reporter we know the Vice President<\/a> was supposed to give a speech on china next week but Senior Administration<\/a> official told me that speech will no longer happen. Here is the significance of","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia601003.us.archive.org\/29\/items\/FBC_20190621_130000_Varney__Company\/FBC_20190621_130000_Varney__Company.thumbs\/FBC_20190621_130000_Varney__Company_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}