of cases symptoms have required little or no medical intervention. now just 14 cases in the united states. all right, investors are showing their concern, we don't know when this things ends, we don't know what, how impact it's going to have on the economy, we are down 150 for the opening bell, for the dow, 16 down for s&p and big 65-point drop on nasdaq, let's get to politics, democrats split, bernie versus the establishment, joe biden fades the so-called moderates panic that they don't have anyone who can beat the president in november. so the democrats fall back on investigations, impeachment and sliming the president, this time around they are going after the president because the administration intervened in the sentencing of roger stone, this could backfire, wait till you hear what the stone jury leader was up to before and during the trial. varney & company is about to begin. stuart: yeah, look at your screen, varney favorites, charles payne, dan henninger and laura trump later on the program. first let's get to the markets, stocks coming off record highs definitely after china reports the big jump in virus cases, market watcher gary kalbaum is with us, i read your stuff, do you think it's a temporary blip, that's it? >> i do, since the day at the christmas 2018, dow up 35%, nasdaq up over 55%, we are just way overdue, this is event driven right now, we had news a week ago when they upped the numbers, my only complaint right here is that the nasdaq and technology is sticking straight up, the amount of money that i've made since november and mega cap names is just off the charts right now and we need to pull back and i wouldn't mind, i don't care -- think it's a big deal. stuart: you would not be boying the dip? >> i wouldn't today, we have a little more to go, this is an outlier event if it really worsens or start to see some numbers break out in other countries in a bigger way i think market wills take a bigger hit, that's something that has to be watched for, overall, i think the market looks great and i have to tell you the institution all money has been pouring in and i don't think it will end in dip like this. stuart: i want to deal with alibaba, the stock dropped sharply on news that 15,000 new virus cases, the stock came back a little and alibaba reported -- -- alibaba reports strong revenues, alibaba ceo has called the virus a black-swan event. >> potential global implications and it does, second largest second in the world slows down to maybe one to 4% down from 6%, that's going to have reverberations around the world. he also says a delay of employees returning to work will affect merchandisers and logistics and have impact on a company like alibaba, if you listen closely to earnings call and cfo people want to spend on services because of the coronavirus, you may not see the sales in the first quarter but they are saying a black-swan event in reference to one-off event if that makes sense, short-term event that will impact the markets and the economy. >> thank you, i want to get back to gary, your comment, please. >> in china most definitely and lots of asia most definitely, when apple shuts 42 stores, starbucks shuts stores, you see what's happening with cruise lines and airlines not flying there, black swan and how long this will go on for and how bad it's going to get and to be clear as much as i do like the market actually, love the market here and love it on pullback, if this thing really does get out of hand market wills take a pretty darn good haircut, this is an outside event that must be watched on a minute by minute basis. stuart: okay, gary, let me move onto other stocks with global exposure and poised to lower open today, i will start with am, they are down 3 bucks at 323. how about boeing, down a buck 89 at 343, cisco, they reported lower sales, they get a lukewarm forecast, this is not related to the virus, down 5%, big drop for cisco, how about tesla, they've announced a 2 billion-dollar common stock offering and they are down 24 bucks, back to 742, now look at barkley's, in connection with sex offender jeffrey epstein. the stock is down 1.4%. ashley: his name is jeff bailey, this goes back to 2000. he met jeffrey epstein at jpmorgan private bank and epstein was a client there and stanley says this, obviously i thought i knew him well and i didn't, for sure with hindsight with what we now know i deeply regret having any relationship with jeffrey, the barclays's board that if you had any time, regulators are looking into there to see what his relationship with jeffrey epstein was. stuart: ouch. thank you, ash. bernie sanders is clearly picking up steam after iowa and new hampshire and new gallup shows 53% of us would not choose a socialist, gary, come back in again, does the far left still pose any kind of threat to the market and my 401(k)? >> i want to know what's wrong with the other 47%. let me be clear, if he ever gets in the presidency and gets his policy in place look out, you know, i keep this little list, stuart, and very quickly proposals present and past from this man, higher individual tax and that's 29,000 above, corporate tax, state tax, payroll tax and 8% wealth tax, carbon tax, financial transaction tax and exit tax, if you want to get to heck out of here, social security tax, war tax, the green new deal, kick 150 million people off insurance, break uptakeover shutdown energy technology healthcare insurance, education and nationalize all of this and my favorite let the boston bomber elect in the elections, happy new year. will wealthy will not be affected, you know who will be affected the most, millennials. they will be taxed more and more and more, bernie sanders called for 100% tax making a million and $1, try getting somewhere in life, he has a lot of marks on there unfortunately. >> i have to show you the fox news analysis, fox voter analysis, shows bernie sanders and elizabeth warren, they are the top choice by voters on who should handle the economy, that's taken from democrats going into the new hampshire primaries, i think, but nonetheless the top two choices to handle the economy, bernie sanders and elizabeth warren, my question; gary, we should maybe support sanders in his bid for nomination because if he gets it, he's not going to be the president of the united states and he will drag down the down ticket in the senate races, he will drag them down as well and probably allow the president to take control of the white house and the senate and maybe win back the house. >> boy, you this planned out, stuart, let me be clear if the economy stays strong and it's sanders versus bernie sanders, there's no way shape or form he gets the middle of the country, there's no way he gets most of the independents and i've said this time and time again between michigan, pennsylvania, wisconsin and florida, the president won by only 190,000 votes out of 23 million, total of 75 electorals, there's no way sanders wins those states, so i do agree with you but i must tell you i would rather have a moderate against trump just in case because you never know what happens, i still remember right before the election with mccain and obama you had the -- mccain was leading coming out of the convention and then look out, so i'd rather not have them around i would rather go into the dust. stuart: a blip on the signal but we understood exactly what you had to say. check futures again, we will be down, it's not a huge selloff in the dow, down half percentage point, same for s&p, but maybe down two-thirds for the -- there's a 1%, that's for the nasdaq, now this, a prominent leader of the jewish community literally thrown out of an event after challenging squad member rashida tlaib with this question. you better watch it. [inaudible] stuart: i'm sorry, folks, i could not tell what the question was, the gentleman there, he will join me in our 10:00 o'clock hour. next coronavirus surging in china, more than 15 now cases reported, later this hour i have a doctor joining me who says she believes china is not telling the truth about the virus, she's on the show. impeachment, total failure but now speaker pelosi has a new strategy, now she's now trying to down play the booming economy and we will deal with it next. begin to tell you... how bright you shine. how strong you are. how brilliant... unique... how you're... my rock. my diamond. for the diamond in your life, there's only one diamond store. it's the valentine's day sale. get 25% off everything. including these special deals. at zales, the diamond store. it's a masterstroke of heartache and redemption. the lexus nx. modern utility for modern obstacles. lease the 2020 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. stuart: more big names for you heading into the opening bell, look at goldman sachs, it's not down that much but it's down. big tech, some of them, microsoft, back to 183, down a buck 166. don't forget nike, big china exposure. we have a tweet, fourth person in the jury of roger stone case had significant bias, add that to everything else and this is not looking good for the justice department. the tweet comes in response to newly-revealed social media post that is show the person in charge of the jury that convicted former trump adviser stone on obstruction charges clearly very antitrump this person. come in arizona senator martha mcsally, senator, they are still trying to slime the president, i think this one -- they are trying to investigate him, they are even talking impeachment because of this, i think it's going to backfire? >> stuart, it already has backfired, they have been trying to impeach the president since they got elected, they have not accepted the outcome, they are trying to throw him off the ballot as you saw and they overreached once and they can be the handle it, it is backfiring, in arizona people want to be foe cushion on lower the cost of prescription drugs, providing more job opportunities or training for people so they can fill the jobs that are out there, things are going well and there's more that we have to do to make a difference for the people who represent and these guys are still in derangement syndrome, investigation, impeachment, it's ridiculous. stuart: impeachment clearly failed and now speaker pelosi is looking to undermine the president on the economy, there's a report from politico that says this, nancy pelosi hosted special speaker's meeting with economic adviser to explain to democrats why the economy isn't actually a strong as trump claims and how they can miami that to -- message that to voters, what do you think of that? >> i think it's laughable, i think they need to come out of bunker in dc and listen to americans, in arizona we have single mom that is have gotten raised, lowest unemployment of hispanics, veterans, parents are happy because their 30-year-old kid moved out of the house and got a job, over 60% of americans feel optimistic about the economy and the future, once again, the liberal democrats and allies are out of touch with what's going on in america. it's laughable that they are trying to message something different. stuart: i have a tweet from the president on one of your favorite subjects, i will read the tweet for you, ending surprise medical billing moving ahead, thanks for congress for sending bipartisan bill to my desk, i know, senator, you want to lower prescription drug prices, you want to end the surprise billings, look, my question is when is this going to happen, can you get it through congress now? >> we have to get it through the congress, stuart. stuart: will you? >> absolutely we can, everybody can agree that when a patient, an individual goes in to the emergency room that they should not get a bill, $10,000 months later because the insurance companies and the providers can't sort out the in-network situation, i have a constituent who lost her home and sell home over this issue; it's time for us to move on, this i'm a cosponsor of the cassidy bipartisan bill, let's get it on the president's desk and end surprise billing. stuart: i have to end it senator, before i do, do i want to say thank you very much for the response to that reporter who is jamming a microphone in your face and you called him -- well, we won't tell you, a liberal, that's what you called him, we appreciate it. >> good see you. stuart: okay, now this, the chair of the iowa democrat party has resigned after the caucus debacle, of course, is he taking -- he's taking the fall for the dnc. ashley: falling on the sword. troy price, long-time leader in the democrat party in iowa, in fact, he was the chief political operator for hillary clinton, tony. troy price is what it says here. stuart: oh, okay. what is it, tony or troy? >> i have troy according to this article. either way he was the political operative for hillary clinton in 2016, so, yes, he's gone and he says after debacle of the caucuses, he says i'm deeply sorry for what happened and i take responsibilities for any failures on behalf of the democratic party, yes. stuart: i think i interrupted just as the video tape was showing the sign on the front of the podium falling off. [laughter] ashley: oh. stuart: oh, boy. ashley: that sums up the caucus, does it not? stuart: let's get serious, the government is investigating harvard and yale secret funding, how much. >> 6 and a half billion dollars according to materials viewed by the wall street journal and stems from a case where the head to have harvard chemistry department, the chairman in fact, was arrested last month on several charges on lying of receiving millions of dollars of chinese money through the program and subsidized program by $15 million and so the officials and this is the energy department, the education department, accusing schools of actively soliciting money from foreign governments and then not reporting it because they may have outside influence in research departments which are looking into innovative future technologies and also, you know, there's a lot of students that come from international countries now, so do they get easier access into the program, there's a lot of questions about that? stuart: investigate that, please, thank you, susan. i've been following the round-up cancer lawsuit closely, bayer wants to put an end to the suit bus they still want to keep on selling the product, right, ash? ashley: yes, they, do they are in a very difficult place n other cases similar to this, in order to try and finish and end all the lawsuits companies would discontinue or alter the product or even putting a warning label on it, well, round-up is on the shelves as we speak, and, you know, that could suggest future liability as the cases go on, look, beyer does not want to go in front of a jury again, they have done it 4 times and lost 4 times and handed out a lot of money even though a judge brought it down it's still multi, multimillions, there's word that a settlement could be on the horizon totaling out $10 billion, now that would make it one of the most expensive corporate litigation cases in history. the bottom line is, though, they say that the roundup does not cause cancer, all the government agencies agree with beyer and say, no, it does not, however when the cases go to court beyer is in trouble. a difficult one for them. stuart: something about the tort bar going after major american corporations and extracting money i think unjustifiably, that's my opinion. that's just my opinion. futures, we will be down this morning, it's thursday all day, we will be down at the opening day. that's what my mom used to say. what day is it, mom, thursday all day. 15,000 new cases, i have a doctor joining me shortly who believes this part of a cover-up and we will be back with that. when it comes to using data, everyone is different. which is why xfinity mobile created a different kind of wireless network. one that saves you money by letting you design your own data - giving you more choice and control compared to other top wireless carriers. now you can choose unlimited, shared data, or mix lines of each and switch any line, anytime. no one else lets you do that. design your own data with xfinity mobile. it's wireless reimagined. simple. easy. awesome. and my side super soft? yes. with the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. can it help me fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. so, you can really promise better sleep? not promise... prove. and now, during the ultimate sleep number event, save 50% on the sleep number 360 limited edition smart bed. plus 0% interest for 36 months. ends monday stuart: trend in the market as we walk up to opening bell, i will start with mcdonalds, premarket, down half percent, down almost a buck. as for disney, i think they are down, yes, they are, not much, just a third of 1% to the downside, another financial, jpmorgan, 50 cents, one-third of 1%, visa, they are down as well, i do declare, yes, they are, only 16 cents. if you take a rook at futures overall, we are down 160 on the dow, s&p down, nasdaq down considerably, down 3 quarters of 1% and as we head towards opening of the market, let's bring in marketley joining us as well. scott, you first, i wouldn't call that a particularly serious selloff. rather muted, what say you? >> pretty orderly so far, stuart, we have seen these before, whether it's overreaction to earnings reports, whether it's coronavirus fears t markets have sold off but they've been very quick, so if you have some cash on the sidelines, shopping list out b ready to pounce because the selloffs have lasted not much more than 2 days. this stuart: this is a response to the virus explosion, 15,000 new cases. >> yeah. stuart: muted response, would you actually tell people to go out and buy something this morning? >> i would. fears that people aren't going to use credit cards now and another thing that we saw the other day, another opportunity to pick up great names. stuart: susan, i think you can confirm, this we don't know when the virus peaks and we don't know what impact it'll have on chinese economy? >> hard to handicap, you are looking at volatility in the stock market, goldman sachs tried to put number to impact in the u.s., maybe half percent but they tend to bounce back very quickly with the economies and kudlow says so far from what they've seen internal government numbers, impact .2% or so. not huge. stuart: not huge. >> demand stuart, that gets pinned up, basically delayed and not destroyed. yes, we could lose half a point in gdp, likely to show up. >> towards 70% what the companies have reported so far, companies are still making a lot more money and more money than expected once again, so you know, we have earnings up from 2% so far from the s&p, they are expected to fall, profit was expected to fall in the first last 3 months of last year, didn't happen, so you're jumping off from a pretty positive basis with strong economy. stuart: outed the virus, you still get the feeling the market wants to go up. ashley: sure, i think so. before this came up the market was continue to go make, you know, meltup as we say, earnings have been strong, certainly better than we hope for and the economy is humming along and then along comes the coronavirus and that, of course, maybe a black-swan event. >> bring it back to politics a little bit. stuart: please. >> talking to traders in the new york stock exchange encouraged by the fact that elizabeth warren seems to be fading, no breaking up big tech, there's relief there -- >> i love what you said, democrats are doing their part. they are coming apart and that's giving this boost to the market. you to love it. 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