Transcripts For FBC Varney Company 20160511

There is Movement Towards him. Disney, moving down in the stock, the trouble with espn and thats disneys cash cow, its going to be down big. But the big money story, the long list of big names hitting record highs. Amazon leads the charge again and, yes, Varney Company is about to begin. Well, i wont back down. [laughter] you hear that, you know, the producers select very good music. No, i wont back down. All right. Bernie sanders is not backing down, he won another state. The economy, one of the big issues for democrat voters yesterday. A third of those democrat voters in West Virginia said theyd go for trump in november. How about that . More coming up on that issue, but right now, well check the market for you. Here is how were likely to open today, ever so slightly lower. But what do you expect after a 200 point plus gain yesterday. That was biggest gain in two months. It will open lower, but thats mostly because of disney, which is a dow stock, which will be down. That will cost the dow about 40 points and look where disney is going to go, down to about 101 per share. Liz, youre going to sort out for me, whats this about espn as disneys big problem . Liz still losing customers despite bob iger. And they lost 7 million espn customers within the last two years. Stuart 7 million in two years. Because of competition, you can get your sports programming elsewhere. Disney is concerned that its lost its magic and ceo bob iger plans to step down in june 2018 so plans are in play here. Stuart espn again is the problem, the bottom line liz thats right. Stuart okay, lets get to politics, why not . The economy front and center. Bernie sanders beat Hillary Clinton in West Virginia big time. 15 points. Hes not going away and even the republicans, theyre paying attention. Look at what rnc chair reince prebus. Its nothing short of embarrassing, Hillary Clinton has been beaten over 20 times for a 74yearold socialist. Shes going left. Yeah, she actually won West Virginia, and the effect of coal miners and Coal Companies. For her, in health care, shes moved over to health care. He says he wants of course, single payer. And she says maybe we should let people buy into medicare. So if youre already going to have trouble finding a doctor, imagine how much more difficult it will be. Hes pushed her off to the left on minimum wage. He says 15 an hour, she says maybe 12. Well, many people wonder why not 30 or 40, if youre going to start mandating that dynamic for small business. So shes putting herself in a box, but her trouble is shes going to be the nominee, that there are so many millennials supporting him. She cant define herself yet. The number you noted about the people voting for her. Shes in real trouble. Stuart shes being defined by Bernie Sanders,almost. Its a strange position to be in when youre supposed to be the women supposed to be the first woman president and most powerful in the world and a man is famous for having a bird land on his podium is beating you. Stuart wait a minute, a man famous for having a bird land on his podium. In one of the northwestern states, he was giving a huge rally to tens of thousands of people and a birdie flew in and landed on his it was portland. They put a bird on it, a birdie flew in and sat on his podium. The crowd went wild liz magical. It was magical and i loved it and now i call him birdie sanders. Stuart oh. So shes being beaten by birdie liz you dont call it sanderista . 44 of the voters will vote for trump. 44 , the millennials. Stuart hold on a second, im looking a the West Virginia democrats who voted yesterday. One third of them who will vote for trump come november, okay thats one third. And 44 of Bernie Sanders voters, millennials will go to trump. A third of democrats, and thats not just West Virginia, youre going to see that nation we had. Stuart come in, governor Mike Huckabee, you heard those numbers. In particular, focused on the third of West Virginia democrats voting yesterday who will vote for trump in november. Now, theres a story, if i may say. Well, it is a story, but i thought it was very poetic moment. This is not the only time that brny sanders has been giving the bird to hillary. Oh. He did it again in West Virginia. A wipeout and look, this is significant, what a significant turn from eight years ago with hillary when the homecoming queen and now she couldnt get a date. This is an amazing thing. Bernie sander has become a court jester and keeps tripping the queen and she had a face plant in West Virginiament democrats have to be panicked not just because of her losses, but because of the fact she is not pulling those Traditional Democratic voters cause theyre as angry at their party as republicans are at their party and thats why donald trump is really waxing away with the field because he is looking, as a guy thats neither of those guys. Stuart and look on the other side of the fence for a second. Theres a billionaire, he was supporting ted cruz, james simons there, i think he gave 13 million, him and his employees to ted cruz, now he switched, because cruz is out. Hes switched and not giving to donald trump, hes giving to Hillary Clinton, given 2 million already, what do you think about that . I think its a great time for donald trump to remind people, meet the old boss the new boss. And sanders the old boss. Thats wrong with washington, the same donors fund republicans, they fund democrats, they dont care, they make money either way, but its the working class who is getting gut punched and when donald trump goes out there and says he does not belong to that group, hes not going to be a wholly owned subsidiary of the wall street donors, i tell you, its resonating with people and why hes done so well and why democrat voters are flocking to him as well as working class republicans. And it scares the day lights out of washington because keep in mind, stuart, the reason under the house republicans, nothing changed. We still had no advance on immigration, no repeal of obamacare, we didnt do a darned thing about planned parenthood funding, we increased the debt ceiling. Everything republicans hated we went ahead and did it, why . Because the donor class wanted it that way. So the donors who gave to cruz, who by the way was pretty much a corporately funded guy like the rest of them, theyre not going to trump. Theyre not republicans, theyre people who wants to make sure that their nest keeps getting feathered. Stuart i know your daughter works for the Trump Campaign and it sounds like youre about to endorse donald trump yourself. Well, i have endorsed him because i said i would wait until he got the nomination, i wasnt going to endorse before because i felt thats what voters needed to do, but im not one of the republicans, fold my arms and say never trump. No, i think that donald trump will be an excellent president and by the way, im convinced he will beat hillary and i know the clintons very well, stuart. Ive known them my whole adult life and went into the last race saying nobody knows hillary better on the republican side. Donald trump will beat Hillary Clinton. Stuart theres a prediction for you. I think its may the 11th, 2016, he said it. Governor huckabee, thank you very much for being with us. Appreciate it. You bet. Stuart ive got some corporate stories for you know you. First off, the share price of office depot is going to be down big today, try 30 down. And so will staples, down about 15 , why is this going on . The feds are blocking their proposed merger. Tammy, let me bring you into this. It seems to me like the administration doesnt care about private enterprise. Cheese these companies are wanting to get together and they want to keep them apart. I think they care about private enterprise, but in the process of having it not work. This is an action thats in fact very aggressive in keeping companies what would normally be a basic thing, in order to survive and work, the agreement and the marketplace, but this is where this administration hasnt been passive. You know, that they should be doing more. They actually take action that makes things worse and were seeing this of course, in general politically, but especially with business and the controlling of business. Stuart right. And i think that americans need to take note of that. Stuart its a bricks and mortar story. They said you cant get together because that decreases competition. The competition for these companies is internet, online. Coming from costco and walmart. Stuart amazon, too. Just last week the federal government blocked the merger of halliburton and baker hughes, a 34 billion dollar deal. Stuart a lot of mergers have been blocked. On grounds that i personally dont approve. Now this, oh, dear, its been a long time since britains soccer hooligans made headlines, but theyre back. Hundreds of them attack the bus carrying mach uniteds players, in canada. A london club. Beer cans thrown, bus windows shattered. The players couldnt get out of the bus. Please, remember, were bringing you the story because these players trapped inside a bus with rioters around them. These players are valued at hundreds of millions of dollars, and they were trapped in the middle of a riot. The riot police eventually dispersed the crowd and the game was delayed. Hooliganism is back in my home country. We have word from nasa, more than 1200 new planets discovered, some of them may be able to support life, but theyre awful long way away. Check out the town this is incredible. The town of mckenny texas, showing off plans for a High School Football stadium, the most expensive ever built. Holy toledo. Well tell you how much it costs, you will not believe this. Next, the 14yearold inventor who is making a big splash in the tech worldment. He came up with a special vending machine with first aid products he reportedly turned down a 30 million offer for his company. You can be sure well ask him about that and he is next. Well, will you look at this . Macys is going to fall out of bed today when the market opens. Thats about 15 minutes. Lower outlook, lower sales, were calling this whole thing about retail the retail ice age. Theres a whole lot of bricks and Mortar Stores that are not doing well on the internet and there competition there from, thats the reason. Look at this one, keep an eye on disney, its down about 5 , know the a great Earnings Report yesterday. That will affect the overall dow, disney is a dow stock. Will you please look at this . Amazon, here is where its going to open, around 7 03. Way up in the last couple of weeks. Jeff bezos, the founder, made about 2 billion yesterday alone. Hes now the fourth richers person. I dont know if i made any money yesterday. [laughter]. Stuart didnt make 2 billion. How about the price of oil, were going to get some important numbers how much supply there is in the pipeline. Thats at 10 30 eastern time. And in advance of that, the price of oil is right there at 44 a share. Now this, our next guest is a 14yearold young man from alabama and he invented a vending machine for first aid products. He brought it to new yorks tech crunch event. Here he is. Taylor rosenthal, 14 years old. [applause] you got a round of applause. Nicely done, sir. Stuart how can you come up with the idea, tell me. I started out in the 8th grade class called the Young Entrepreneurs Academy and its a class that helps you start up your own company and they say one night, go home and brain storm an idea so i played baseball for ten years now and every time i got hurt at a travel Ball Tournament or something and nobody could find a bandaid. I kind of wanted to come up with something to help that. Stuart really, you went to the baseball game. Somebody had a minor injury, nobody had a bandaid and you create a vending machine for bandaids and the like. Youre had a smart young man, you figured out if you sold these products, first aid stuff, youd have to pay somebody to sell them. You dont like that. Thats why you went the vending machine route . Yeah, i actually, my original idea was to start off sitting at sporting events selling first aid kids that were pre packaged, but i knew how much it would cost to pay somebody to sit at the tournament for six hours. 15 an hour. Stuart thats right, so the vending machine gets around the minimum wage and cost of labor. Yes. Stuart we dont have one in the studio. Is it a special kind of vending machine that you invented or did you invent the products that go in that vending machine . We created the vending machine ideas itself. We didnt actually create, like, selling you didnt build a new vending machine, you built an idea what to put in the vending machine. Yes. Stuart thats what you did. First aid products. Have you got it out and about yet. We have not. Were hoping to start by the fall. Stuart whats this about you got a 30 million offer for your company. Is that for real. Yes, it is. Stuart who offered, you dont have to use their name. What kind of company or person offered the money. It was a Major Health Care company. Stuart really . Yes. Stuart and you turned it down. I said earlier youre a very smart young man. What are you doing turning down 30 million at the age of 14. It took a lot to think about it, but we had felt like the time wasnt right. We want today grow and develop the company a little bit more and maybe later on it would be worth more. Here we go. Stuart and you wanted to grow your company. What a strange idea in this day and age. Im joking, im joking, a good idea, young man. Whats your next step, youre going to get the vending machines out there with first aid products in them. Is that the next step. Yes, the next step is to put our vending machines out on the market. Stuart how long will that take . Hopefully we should have them out by the fall. Stuart i hate to do this, but if somebody offered you 50 Million Dollars today for the idea . You would take it, wouldnt you . Yes. [laughter] excellent. Does your company have a name . It does. Its called recmed. Stuart spell it. Recmed. Where did you get that. We thought of a cool name, recreational and then medical, med. Stuart have you invented anything else . Actually we have a second idea behind the first one. Of course. Stuart and you cant tell me that because somebody will steal it. Thats right. Stuart maybe if you put out for 50 million, you had a he have your second idea roped in with the first idea to get the value up. Yes. Stuart fantastic, fantastic. Loving it. Stuart it was great to have you on the show, young man. I hope you can come back and tell us how youre doing with your idea because its a very good idea and youre a smart young guy. Thanks for joining us. Thank you. Congratulations. Stuart thank you, congratulations. And next case, nasa announcing its discovered more than 1200 new planets. Nine of which may be able to support life. Now, what do you know about this . Its the kevlar telescopes, its zooming in on stars, nine of which could support life possibly. And pluto is this a planet . Theyre finding that there are, yes, more than 1200 milky way planets. Theyre trying to get obamacare to each of those planets and theyre going to regulate all of them in about ten minutes. [laughter] nothing will happen in space, we already know. Stuart we cant get there because, what, light years away, im sure. Light years away. This is just the milky way. Stuart im making fun of it, but the whole point is, there may be life elsewhere out there because the universe, the galaxy is so vast. Right. Stuart odds are, something is out there. Theyre going to need some first aid vending machines because they have none right now because theyre out there. Stuart they need 14yearold inventors who turn down 30 million. Shocked at that one. And this planet, dude, its 1200 more, buck up. Stuart all right. Youre free to go and ladies, will join me later. And Silicon Valley getting political. Peter teal, founder of paypal, an early founder of facebook, he says hell support donald trump. A california delegate for donald trump. Details next. You bang up your car. Not too bad. But bad enough to need an appraisal. How hard could it be for one little accident . Except one little accident is now one massive headache. Finding time for an appraisal . You usually cant find time for lunch. Your husband asks if you can take care of it. You say, not a chance. Can you . Crickets. With the Liberty Mutual express estimate™ app, youll get a repair estimate in one business day or sooner, without leaving home or work. Call Liberty Mutual is available 24 7 so you never have to wait to file an accident claim. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Now, here is a stock that weve been following and why not . Because the thing keeps setting record highs and nobody not a lot of people expected this. Mcdonalds closed yesterday at a record high. Its going to open this morning just a tad higher maybe. Were following it, why not . Its a winner. Then we have the video game maker electronic art. Maybe you dont know what they do. Maybe youve never heard of them. Two words and youll understand what they do and why theyre up. Star wars, they make star wars, the game, and theyre up big time today. How about macys . Down big time. Thats premarket, it will be opening lower when the market opens in about three and a half minutes time. Theyve got a weak outlook. Theyre looking to the future and saying things aint great, guys, and down goes that stock about, what would that be . 15 , 10 at least . Theyre down. Then we have this the billionaire behind paypal is an early investor in facebook, bless you. That man there, peter teal, hes know you backing donald trump. And also reportedly on Donald Trumps Campaign Team and tammy, ithis is unusual. Silicon valley guys dont normally support trump or republicans. This is a statement to the millennial groups. This is a man who is rerear revered when it comes to Silicon Valley and brings in a different age and focus, remind you of the aei meeting in georgia with tech leaders and republicans leaders worried about donald trump, people like elon musk, tim cook, mr. Teal was not there. This is a man who understands that the economy matters and American People understand that and knows this is the direction. He makes good decisions liz hes on the board of facebook still. Stuart s he on the board. Mark zuckerbergs comments about donald trump, hes still on the board. Stuart we have news all week that facebook has been steering its users away from conservative website, aang lon he comes on board and supports trump, thats a contradiction. And weve had polls, the results of the polls were as follows florida and pennsylvania, trump and clinton virtually tied. Trump has come a long way in the two states. Lock at ohio, the key swing state, trump 4 points ahead of trump. And look at this, hillary is using these polls as a fund raising technique. The problem, she says here im losing, come over to my side. Thats how desperate it is. Mitt romney was 8 points behind mr. Obama in 2012 youre looking at that kind of a shift. Thats because independents, some democrats, people generally are now looking and all of his numbers are within the margin of error, he could be ahead in all of those liz whats working is crooked hillary. In ohio the trustworthy numbers. Shes coming back trump loose cannon, that too above the belt in terms. Its not bad to have a loose cannon these days and might frighten some of the guys of the world. Stuart very strong this morning. Now, look, its 20 seconds until the opening bell, the start of trading on wall street. We are expecting what, were expecting a very small loss, maybe 30 points, almost all of that is accounted for by disney, which is going to be down and disney is a dow stock. Therefore, in all likelihood, disney accounts for the dows loss. We were up over 200 points yesterday. 9 30, were up and running and down 15 points. Down 19 points. Very, very modest loss largely because of disney. Can we show disney stock, how did it open . What should we do . A 5 decline 5 down 101 at disney. Weve got espn problems. Tammy bruce still with us. Liz macdonald with us, and shah galani is with us and so is dan in chicago. Ive owned it for years and im surprised its taken this much hit, theyve got the Star Wars Franchise ahead of them and i think its a bit of an overreaction. Stuart i think theyre brilliant at exploiting a franchise. They are, absolutely. One of the problems, success in terms of iger, hes been brilliant at the company and who is going to take misplace. There are questions about that now. Stuart i once had dinner with him at four seasons in new york city, i tried to persuade him to put Rush Limbaugh on monday night football. [laughter] how did that go . Didnt go well and he didnt do it, it was a very short dinner. How about looking at macys, part of the retail stage, its down and down big. They give a weak outlook for the future. Theres lots of bricks and Mortar Companies are not getting foot traffic because of the internet liz thats right, lower sales versus last year. Coming in worse than expected and the Holiday Season is hanging on them because people have switched toward tj maxx, marshalls, h m, amazon to do shopping. Macys saw this trend and take its taking hold. One of the things about malls, theyre being toing the same. Theyre looking at what already is trending, theres nothing unique. You have a Banana Republic thats forgotten the nature of their buyer. You stop going to the mall and find unique things online. Stuart bricks and mortar retail, look at that, macys, pennys, target, kohls all of them down. I think this is the internet, i think its online selling. Is that the problem here . Absolutely. And exactly, thats really what its amounting to. The internet is taking over everything. The internet, everything is going to destroy retail and malls, too. Have you been to a mall recently . I have and this is what was striking. Youre seeing did the you can go online and find interesting things, but if you go into the mall, one store after the other seems the same. You dont find anything unique, youre not challenged and theyre trying to adapt to the internet interestingly and doing it the wrong way. People do enjoy a kind of microshopping, very specialty, unique items that normally theyd never be able to get. And at home in the mall its the same. Im in florida a lot, the mall traffic is down everywhere i go liz remarkable. Stuart and its noticeable. I find it fascinating. Target is down 3, 4 there and thats been affected by the bathroom issue, i suspect, of all things. Lets bring you a winner. Its called amazon. Winner and a half. Now its at 703 per share. Do you like this one at 703 . Or a bit toppy for you. It has a tremendous future ahead of it. I wished i owned it lower, a little too high. The cloud ver have services, and they do Cloud Computing and theres no overhead cost. Thats money coming in the door. Amazon bigger than industrials like ge and bigger than walmart in market cap by triple digit pe. Stuart dan is sitting out there in chicago, hasnt got in a word edgewise. Do you go to malls . Do you shop online and would you buy any Retail Stocks . Theres a bunch of questions. Two points on this, if you were to drop any one of us in any mall in america, what theyre saying is right, theyre the same. Am sop, the things that bricks and mortars are doing wrong, amazon is doing it right. Theyre targeting it, looking at what the consumer wants today. There is going to be bricks and mortar, but theyll have to veer away from what theyre doing. I havent gone to the mall in months except for the apple store because i had to get my computer. Stuart i know what you mean. We have another story and plays into the concept of the retail ice age. The feds kill the staplesoffice depot deal. Both the stocks are hammered there. Dan, this is an economic question, really. The white house, the administration and relationship to private enterprise. I maintain they dont like it. And you say what . I have to agree with you 100 . It seems like anybody tries to do something to expand, the government puts its thumb down. The government has to et get out of the way. This is not something thats going to create a monopoly. Other places you can buy and this is a bad move on the governments part overall. The government says if you get the two companies together. You decrease competition. Thats what we said five minutes ago, the competition is the internet, its its so 1985 thinking on the part of the government. Well said, i like that expression. More big names for you, all of them coming off lifetime highs this week. Where are they now, as of this wednesday morning . Start with being m mcdonalds, down a fraction. How about home depot, another alltime high recently and this morning its down a near 45 cents, thats it. Johnson johnson, another high earlier. Unchanged as of right now, and pepsi, yet again, another high. And its up a bit more. 106. 87. However, look at facebook. Justice hit a brand new lifetime high, hit 121 moments ago. I need commentary on facebook because a lot of people and this program, thats the tech stock. One guy said its going to be the first trillion Dollar Company. All right, shah, have at it. It wouldnt price me, last time i was on, this is the tech stock to own, nowhere to go, but up. Everything that Mark Zuckerberg is doing, hes doing it correctly. The mobile approach and everything hes got in this wheel house actually goes back into what it does for the subscribers for everybody who is on facebook and he extend that out. Its a Fabulous Business model and i think it will be a trillion Dollar Company. It will be a trillion Dollar Company and that stock would have to go to what, 2, 3, 400 a share. Nothing thats going to happen in a year or two, but perhaps in that time period. Stuart last word. The senate g. O. P. Launched an inquiry into the news cure ration scandal. Its moving into a serious arena. Its not affected the stock . Everybodys lives is embedded into facebook, and much more in the news. Stuart and broadcasting to an overseas audience, a billion users every day most are overseas and most dont want news about donald trump. Hes zuckerburg is catering to his foreign audience, i suspect. Ive got another winner for you, called electronic arts, thats the video game maker behind john madden football and i believe theyve got the star wars as well. Youre right on point, sta stuart varney. Projections going forward, better than expected. Star wars battle front. Theyve knocked on another million sales with this thing. 14 million copies to the retailers and madden nfl mobile doing very well and it turns out, players spent who are than two hours a day on. A playing star wars galaxy of heroes and a couple more names coming out. Titan 2 and effects. And madden, star wars, its a winner. Stuart thank you. Take a look at the big board. Now were down 64 points, but about 40 of those points are accounted for by the decline in stocks. Absent disney youve got a relatively flat market as you kick it off today. How about the price of oil . Again, relatively flat, i believe around 44 per barrel and at 10 30 eastern time. Well get the latest report on how much supply of oil there is inside america. That could move the market. Well give you the numbers, 10 30 eastern today. And now this, wait a minute, wait a minute, dan stestarch, youre the oil guy. Theres a gigantic glut and thats not going away soon . No, its going to take a long time for that inventory build to break down. Oil last night 3. 7 million barrel build and expecting 300,000 barrels and yet, the oil stays here, i dont understand that part of it. If we get a big build at 10 30 it will bring down, but a long time before we get rid of it. Stuart eric bolling colleague at fox news, he called the oil market the widow makers, a lot of widows createded by the oil market. Walmart suing visa because card users have to still sign their name even though theyve got the chip in the visa card. Here we go, this is a nasty fight. Walmart is saying, look it, visa, seven out of ten of our customers use their debit cards, which basically go right into the checking account. We need more security here. We need you to force the customer to put in their pin numbers, right . Visa is saying no, no, no, we want the flexibility and sign only, thats okay for us . Guess what, visa makes more money from walmart with signatures per transaction, so its a money game for visa, they want Customers Using only signature. They want the credit element versus the debit element. They make more money on the credit with the signature. I cant imagine walmart winning that fight. A gorilla in the room. And they would have to force them to pay more. Stuart im going to move on. I have no idea what youre talking about. [laughter] ive got a visa card with a chip in it and ive never had to sign yet. Go to walmart. You have the valet ahead of time. And maybe you use cash, maybe youre a cash man. Stuart quiet on the set. Netflix, oh, thank god that put that up for me, here is a statistic for you, netflix cuts out six days of commercials from your life per year compared to cable tv. Here is another one, i dont understand. Netflix has no advertising, so the Tech Industry survey group says its more than 150 hours a year of ads that netflix isnt imposing on customers. Netflix says we will never have ads, but shows you how powerful netflix could be if it did one day have ads on its site. Stuart powerful in terms of reven revenue. Stuart do you like netflix. You know the answer, its overpriced, but a great stock. Its got head wind right now, too many studios coming up and creating more competition for it, and a lot of the screenings online and i think that netflix is going to face more headwinds. Stuart one more question for you, microsoft. Okay, i own a little bit of it. Youre the guy who says it was going to 65. Yes. Stuart its not. Its at 50. Whats going on . I will say this, we owned it for a long time, sold it and made great profits and started buying back in at 50. And if goes lower, load up the bus. Stuart when you say load up the bus. Large position. Stuart youve got some now. Hoping it goes down more. If the markets slips here, and thats a good time to get in. Stuart i think 49. 50, you would buy big time at what . 48, 45, 43. I would buy, load up. Stuart its gone up, to 51. Im glad i own some. With his tie, he did not have a bus outside. And i kind of figured. This is shah galani. Yahoo mail has been blocked by congress due to a surge in Malware Attacks against the house of representatives. Oh. Listen a battle. It doesnt make any sense. Stuart the stock is up. Its not going to affect the stock. Here is whats going on. Yahoo s mail is so loaded with sick viruses that the house of representatives is saying, you know, stop to the workers, stop using yahoo mail at work and whats going on the house of representatives workers have a lot of Important Information in their accounts theyre getting hit with ransomware where they say you have to pay us money to get the files back. Stuart i understand that. Yahoo mail is loaded with malware, thats real bad. Thats really bad and the government unions are saying, you know what . We want our Governor Union workers to be allowed to use their personal yahoo and gmail accounts at work. Everyone in government should have their zone server, why not . At home. At home. Stuart the Dow Jones Industrial average right now, about 14 minutes into the session, were down 86 points, okay . 87 points. Dan, would you come in, please, just for a second. I know youre a commodity kind of guy, do you have any single big reason why the dow is selling off today, down 87 . Well, i think the fact that we had a rally yesterday and the market is toppy in my view. Not a lot going on. Earnings are here still and the market has go the to take a break, its too high and it needs to fall back some. Stuart thanks for joining us, dan. Great stuff. Disney not a great report and theyre down five bucks as we speak. Dow down 85. Disney is down nearly 5 . Remember, disney is a dow stock and helping the dow go south. Show me macys, please, thats a story. Another one of the retail giants taking it on the chin this morning. As we said so many times, so many people are going to online buying and selling, and thats whats happening and thats why macys is getting hit, i do believe. A couple of tech giants opening at alltime highs. Amazon has gone to 703 and facebook backed up a little. Look at the two stocks liz facebook hitting a record high. Stuart this remind me a couple of years ago, when apple kept going and all of a sudden you have amazon and facebook doing very, very similar things. I dont think that actually facebook has taken off the way the other big techs did in the past. Its going to, getting warmed up. Stuart i have a loser and you know what they do, theyre fossil, theyre the watch and accessory people. Show me, please, whats going on . Oh, man, right . Look at this one, down 31 , a stock that dropped nearly 70 last year. Turns out the company this is a company that used to set low bars and meet them and beat them. Now they keep lowering expectations and not meeting it. Retailers are watching the inventory closely, talking about currency headwinds, comparable in wearables. The big picture, theyre not merging the merchandise and this stock is crushed today. I think thats the right word to use, crushed indeed. Theres so much competition in their field. I dont think its bright longterm. Stuart it not just watching. Casual clothing. Stuart accessories. The price point where theyre at, theres too much competition, its a hard time getting. Stuart how would you like to wake up in the morning, you own fossil stock and you hear that the demand is not great, and youve lost a third of your money a one hit wonder, you have to know to sell at the top. Just as Jerry Seinfeld left early, you know when to life. Stuart are you telling me i should retire . Thank you very much. Were discussing fossils, arent we . Oh, low blow. Stuart thank you for a rapid fire wednesday morning, 9 30 opening bell. We appreciate it, thank you, one and all. Check the big board, were down 78 p points. 17, 850 to be precise. Exit polls from West Virginia last night. 91 of voters who voted democrat say they are worried about the economy Bernie Sanders has a 20 point advantage among those voters who say that the economy is a big deal. Come on in, rona romney mcdonald, a trump supporter. How does donald trump, and im aware of your name, im aware that romney is in there. Im not going to mention that for a moment, but how do you get Bernie Sanders people to go and vote for trump now . How do you do that . Well, you saw that last night in exit polls as well, with a third of the Bernie Sanders voters, their second choice, second choice was donald trump. So, Hillary Clinton is in massive trouble, voters do not trust her on the economy, they do not trust her to lead this country. Weve seen it here in michigan where Bernie Sanders won and donald trump is resonating with those voters, telling them with his business experience, with his leadership and the business community, that hes the one who is going to bring back jobs and the best to lead our country on the economy. Stuart now, if you support trump, and i know you do, are you prepared to forgive and forget all the nasty things, i with he has said . Are you prepared to put that in the past and say, this is the guy im with him . Im supporting our nominee, im supporting the millions of voters across the country, who made him the nominee. Of course, we have candidates who say things we dont agree with. Donald trump has said things i dont agree with, but i look at Hillary Clinton and her record and what she would do for our country, and i am 100 behind donald trump. Stuart okay. I want to get to those swing state polls, we brought them to our viewers yesterday. Donald trump had a 4 point lead over hillary in ohio. Hes statistically in a dead heat with hillary in florida and pennsylvania. Now the news this morning, those polls came out. The news is that hillary is using those polls as a fund raising tool, urging voters to change the trend. She appears worried, im not surprised at that, but she should be worried, i guess . She should be worried. Shes still in a nominating contest. We have a presumptive nominee. Youre looking at Bernier Sanders gaining traction and his voters and supporters are looking at the process and see how rigged its in favor of Hillary Clinton. The longer that goes on, young voters will look at what the clinton machine did to bern sanders and less inclined to support him, and with voters many second choice is donald trump. Shes not fit to lead the country and they do not trust her. Ronna ro many romney, i stress the middle name. Thank you for talking with us indeed. Thank you. Stuart a wyoming rancher threatened with 16 Million Dollars worth of fines for building a pond on his property. He sued the epa. And he won. Were talking to him in the next hour. And first though, the latest chapter in the Hillary Clinton email saga. Clinton aide cheryl mills walking out, storming out, were told of a fbi interview after she was asked about hillarys emails. Napolitano is here on that after the break. 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Why would she storm out when asked a question about emails . Okay, so the interview is voluntary, and when the fbi calls you in, you can negotiate and through your lawyer, well talk about this, we wont talk about that. So, her lawyer persuaded the fbi that when she worked for mrs. Clinton, she was mrs. Clintons lawyer. And therefore, the communications between mrs. Clinton and ms. Mills were attorneyclient and protected. So they werent going to talk about emails. Mrs. Clinton and ms. Mills obviously talked about emails in those four years, but ms. Mills was not going to tell the fbi what her client told her or she told her client and the fbi agreed to that. They get in the interrogation, its not one person interrogating her, its a group. One of them says, what about this email . And she leaves. Shes like i didnt agree to talk about emails, im leaving, i might come back and might not come back. She came back ten minutes later and realized this agent had pushed the envelope, had gone one question too far beyond what their ground rule agreements were. Stuart now, when i first saw this report, i was told that asking that question implied that the fbi knew the answer to the question. Whoever told you that in my view is correct. The fbi will not ask a question in this environment unless it knows the answer and its often trying to decide, is this person were interrogating a person we should charge with a crime, is this person a witness on our side . Is this person a witness on mrs. Clintons side . Thats the reason for these interrogationin interrogationin interrogations, they do it at the end. Stuart ive got 30 seconds, cut through the clutter and this storming out of an interview with the fbi worsen hillarys basic legal position . No, it does not. I dont think it does. I think r its news worthy because it doesnt happen all the time. Its news worthy because somebody in the room who saw it, obviously, leaked it. It does tell you this, the fbi is willing to leak when things dont go its way. Stuart thats very important. Thats the take away, mr. Varney. Stuart very important. You leave the best for last. See you at 11 00. Absolutely. Stuart ahead, colonel ralph peters, never afraid to express a strong opinion. Hes ready to go off on president obamas planned history to hiroshima. Visit to hiroshima. If you have a stuart it was in attendance are. 10 00 eastern time a president obama to hear what she meant highest Lieutenant Colonel ralph peters really fired. He calls it another apology to her. We will set him loose power. The wyoming rancher who fought the epa in 19 asked a million because of a pond on his property. Hes going to join us for a big dream. I have to ask him. He didnt get the fine, but did it cost you much in legal fees . A real estate listing from cleveland. Nice place. Chances are a few of you could actually afford it. First, the markets, where we this wednesday morning . M. 100point equity. Just hit the low mark in the bricks and mortar retailers, all of them calling it the ice age. The leading downside stock is macys which reported lower sales and have a weak outlook for the future. The competition on this latest online telling. Look at this. The king of online selling which is amazon touch 707 a share earlier. They backed off to 705 as of right now. Very different story at disney. Has had trouble with espn. Whats the trouble . Losing subscribers and customers. Espn hanging on. Even though the movies are blockbusters like star wars, along with other tvs. Sure into espn the cash cow. They been trending down for two years in terms of subscriber growth. Stuart weve got a few things are much indeed. Bright indeed. Brighten up the gop leadership is about to talk to reporters in washington. Speaker paul ryan is about to speak that we will take you there when i get the headlines. The Republican Party trying to get immunity with donald trump. No doubt paul ryan will comment on that pier to the election, Bernie Sanders not just another win in West Virginia. 10 of the last 15 stayed and is pushing hillary to the left. Liz peek is with us from the fiscal times. She is offering, this is hillary. Shes offering free day care for working families and you can buy in before you hit your 60s. A wouldve thought thought babysitters would now be something the federal government went to get involved in. There are 45 different programs that impact families with children under five. You can be pretty sure 40 of them are ineffectual. We do not need more programs targeted at this particular issue. Hillary is being pushed further left. Doesnt take a family anymore. It took federal government to raise a family. Its ridiculous. On the medicare thing, this is Bernie Sanders influence and Hillary Clinton is unable to put Bernie Sanders away, which is sent in democrats have to be concerned about. How can she compete against almost trump and beat him if she can put away Bernie Sanders. Stuart on that note, Geraldo Rivera is here. Good morning to you stuart i am taking hillarys been pulled to the left. Shes also more profoundly a weak candidate. She can put away a 74 euros socialist whose appeal is to people whove been totally unrealistic view of what the government should do and what the real world is like. Shes going to talk to. She is the nominee and i think Bernie Sanders and Paul Ryan Sherry stubbornness that i think is quite apparent. Note that im have to get on the respective trends of their parties if they want to contribute to success. Paul ryan now gives enough domestic forecast of donald trump on thursday is going to be like. That will be the first time that theres a gop unity. Bernie sanders can not win. He is stubbornly stayed in there. His voters on the other hand will not be migrating. Its ridiculous to think so. Their Climate Change people. Theyre not going to be blocking. Not fox news was reported last night, exit polls one third of the democrats who voted in West Virginia will actually vote for Bernie Sanders, will vote for donald trump in november. Those democrats vote for the republican every time. Those are the White Working Class people. They voted for Hillary Clinton or barack obama. Race is a big factor in 2008. I is that this coal mining thing that Hillary Clinton made the most colossal political blunder you can never expect in West Virginia and take all your remaining jobs when act is happening naturally. Natural gas is better than coal. Mechanization is making the job as obsolete as a buffalo hunter. Why she had to say that in rub salt in the one. Stuart it was a huge mistake. Thats for sure. Bernie sanders back in for a second drain huge cause in california. He thinks hes going to win they are in california. Very important. Listen to this. Right now we are about 45. 5 of pledged delegates. We think if we do well in the remaining states and if we do very, very well in the largest state in this country, california, we have a chance. Its a not so struggle. We have a chance to end up with a majority of the pledged delegates. If we do that, i think youre looking at the democratic nominee for president. Stuart hes picking california. He thinks he can win california. That would get upset and a half. It could happen. If i was a better looking be a star. If i was except by that be a basketball player. He is down by 20 in new jersey. When you start getting into states that look more like america than West Virginia, Bernie Sanders has proven he cant win. Hes going to get killed in new jersey. Hes done by 10 in california. This is a man on an ego trip. Stuart you are implying that hillary is the candidate of minorities. Minorities and women. This is the demographic election pitted people dont get that come if they dont get whats happening here. The gop candidate is going to be the candidate that appeals to the way people, mostly men. They appeal to every other group, asians and hispanics they time. It is going to be a demographic battle in common time both candidates, donald trump and Hillary Clinton to broaden their base. But its going to be very close as the service in the battleground state indicate. Its always been its horrible ever sent this strategy was revised. Im old enough to remember it. There was an appeal to white will write. Much of the expanded reagan democrats the same kind of combat. This has never been more exacerbated than right now. A stark Racial Division in the selection. Stuart i am still in california are effective. A California Republican Kenneth Mccarthy is number two in the house behind paul ryan. Hes going to service a trumped up again. You can fill momentum burning towards trump. Governor Mike Huckabee earlier showed that trump will win in november. Listen to this. Im not one of this republican fold my arm since they never trump. I think donald trump will be an excellent president. Either way, im convinced he will beat hillary. I know the clintons very well. Ive known him my whole adult life. I went into this last race baiting nobody knows hillary better on the republican side. Donald trump will beat Hillary Clinton. Stuart you are different there. Donald trump will beat Hillary Clinton. I do agree with that. Partly i love to be against the wind. The press has been so convinced it would be a landslide victory for Hillary Clinton and now were pulling out in three swing states may wait a minute, its extremely close. I think trump can go after hillary on so many different fronts. She will go after him on being on that income is scary. But goldwater kind of attack that shes a loose cannon, dont want a finger on the button which is something ted cruz prado. People concerned about the economy have more faith in trout being able to bring back jobs, make their lives better. I dont think hillarys attack is going to work. By the way, chuck and go after her for having had an incredibly empty experience as secretary of state. Liz clinton is scoring worse and trustworthiness than trump. Crooked hillary. What hillary happen next in moment and i am not a crook. Stuart surely she wont do that. Vice President Joe Biden talked about president ial candidate and their chances early this morning. Roll that tape. I feel confident hillary will be the nominee and i felt it should be the next president. I planned on running. Its an awful thing to say. I think i wouldve been the best president. It was the right thing not just for my family, for me. Stuart you heard quite clearly. Come back in, please. Joe biden says clinton is going to win. This question will be asked on the link between now and november. Who wins . Hillary or donald whoever can turn up their base. C. And governor huckabee and remembering he was really to chant and that the evangelicals when he won iowa back in 2008. The evangelicals stayed home in 2012. If they come out big time now, i think the republicans, specifically donald trump has a chance. If on the other hand. No state on the way they did in ll will turnout. Be routed. Hispanics turned out and trump did something around me from his 27 of hispanics, hillary will win. It will be an election determined largely by the turnout at the base. The demographic election. Dont forget to people or people people for Bernie Sanders. I agree. I dont think theyll be particularly energized. Stuart do remember a month ago, two months ago when there was the headtohead matchup, almost universally trump will lose in a landslide. That i had my notes out. It has changed big time. Nobody made any money betting against donald trump. Stuart not many people made any money betting for him because nobody batted on his side. A rancher in wyoming spot the fed said he wants. They are trying to find him 16 million for a ponzi built on its property. He is going to tell us how we won, but what it cost him. He is with the next we have a habitat of wetlands when there was none before we had deepwater fish habitat that there was not previously. None of this makes sense. We are improving the environment and when they feel they should become the, they are coming after us. At ally bank, no branches equals great rates. Its a fact. Kind of like grandkids equals free tech support. Oh, look at you, so great to see you none of this works. Come on in. At ally bank, no branches equals great rates. Its a fact. Kind of like bill splitting equals nitpicking. But i only had a salad. It was a buffalo chicken salad. Salad. Stuart we dont like to get technical. We dont like to show you charts very often. What you see right now actually is the place where the Republican Leadership is going to speak to reporters shortly. What are they going to do with donald trump . Youre about to see them emerge and will go to them paul ryan when he speaks. That is telling us the story. The top line is donald. The bottom line is wendys. To fast food chains. Mcdonalds has gone straight up. Darden stock this year. Pretty flat to slightly lower. Maybe when hes should put out all day breakfast. The president wants to change the rules on who gets paid overtime and why. Thats a subcommittee hearing in congress right now on that issue. The issue of paid overtime to simple management workers. How on earth do you do that . I want to broaden the definition. Again, another. Duration of a come any in companies broadly read. The truth is theres a reason why entrepreneurship there down in this country because people are really being strangled by all these regulations that apply not only to Big Companies that franchise operators and smaller businesses as well. Everybody talks about this. Everyones talking about politicians, business leaders, et cetera, but no one is going to confront it and the obama Obama Administration will this up as if it doesnt matter that it does matter. Stuart you want to regulate the absolute ownership. Entrepreneurs at the net new job creation sprang entrepreneurs. Thats where it comes from. It just takes a management time. It is done because people spend their time filling out forms and hiring lawyers to prove that their Management Practices stuart to get my teenage daughter job at a bakery required three sets of forms in a medical certificate. A job at a bakery at 16. Heres a story i like. Our next guest was threatened with a 60 milliondollar fine because of the building of a pond on his private property. Bat one on his private property. The epa said you should have told us before you built this thing. He had actually obtained a statement the definite lay not federal. Well, he sued anyone. They tried to chart a million bucks. I got mine right there, Annie Johnson is a wyoming rancher and if it does today. Hes sued, you want come as you dont have to pay the 16 million fine. My question is do you have a big legal bill . No, we dont. We were fortunate enough to have specific legal amounts, the Legal Foundation helped us free of charge. We had a whole army of attorneys help guys. It didnt cost us too much. Stuart its fortunate youve got people on your side. If you did that wouldve cost you an arm and a leg anyone up on. Lets go back to the beginning. Why did they try to find new . Because you had told them in a bid to rebuild in a pond . Well, we didnt ask for their permission because we didnt need their permission. The state of wyoming gave us a permit and we built our project just like everyday people do in wyoming. After the fact a common and tried to find us, given its administrative order. Dealmaking we had to do, the only option they left us was to file suit and thats when their attitude changed. Stuart why did they say you should not about the pond in the first place . You are a rancher. What is wrong with loading a pond . Well, theres nothing wrong with it. This whole case is not about clean water at all. Their violations of the clean water act are completely false. What this case is about is money and power and overreach. They were just trying to justify their job. I guess they figured we would lay over and do what they wanted but they were wrong. Stuart since youve been involved in all of this, its a long Legal Process he been through. Have you heard of other people in wyoming or other ranchers elsewhere whove gone through the same thing . Yeah, i have. There was a case a year and a half ago. Dave hamilton of wyoming spot and the winning against the epa. They just overstepped their bounds on the times. They make up lies. They push and push and tell people. Stuart they want to control you in your land and anything that has water on it. Thats what theyre looking for. They want to control your private property. I make an opinion here. You agree with me . No, youre absolutely right. They wont all total control of every drop of water that his theories. They dont care private property or anything. They wanted all because its on the money trail. They want all the funds coming in. They want to control who gets these permit. Its really not about the environment or clean water. Stuart mr. Johnson, we are very happy you escape this awful situation. Im glad its behind you. Congratulations. Tell us what happens in the future any time you like. We appreciate it. Thank you very much. A demographic story population shift. Fewer babies being born in america. Thats the headline. The trend expected to continue and that does mean quite a lot for the economy. We will. We will deal with it in a moment. [ soft music ] e. T. Phone home. When you find something you love, you can never get enough of it. Change the way you experience tv with xfinity x1. Stuart the Cleveland Browns done with troubled Quarterback Johnny Manziel and he is done with cleveland. Thats his house. What is he doing . Selling it. 52,000 about what he paid for it picks up on a golf course with access of a pool. I always think of the football stars as having millions of millions of dollars put into their home. 490 grand. Although a news story today, fewer babies are being born in this country. Look at that. All the way down. Expect it to last for many years to come. Is this an Economic Indicator. Is a downturn because of the financial crisis. Had i continued at that level, they have begun to inch back again. A lot of what is happening as women are waiting until they older and further along and then having children. The average age is 28 plus, which is unusual. But also what came out of the recent report is that teen births and unmarried women births are down actually. Women with careers who are educated and who can take care of their kids. In a way its a positive thing. What we dont have is the demographic collapse taking place in china and japan and some countries in western europe, which is a serious Economic Indicator for those countries as their labor force shrinks. Stuart i know a little bit about this. Japan has the most extreme demographics of any society in recorded human history. For history. For older people, fewer babies the sale of Adult Diapers in japan now exceeds the sale of baby diapers in japan. There is the story. Thats not good. Seniors in japan want to get arrested and health care. Thats right. The retired 6062 in japan. You dont spend much money in retirement like that. Ive got a go. Weve got the dow industrials down 89, 90 points. Just a moment the Oil Inventory figures for you. Find out how much oil is in storage. That number could affect the price. Back in a moment. Stuart 10 minutes to go before we find out how much oil we have in storage. How much more or how much less. Jeff flock in chicago with a number. Jeff we think that it will be more. Oh, my gosh. This is a huge thing. That is news, my friend. A gain of three and a half Million Barrels. A bigger draw down then we thought. Gasoline a bigger draw down they thought. Take a look at the numbers on oil right now. It is coming back. Coming up 0. 35. We have gained almost 1 here in the last 1015 seconds. Stuart telling us the story as it happens. Drawing down over 3 Million Barrels of oil. That means that demand is strong. The former president of shell oil. That was a surprise. I will repeat it in case you did not get it. 3. 4 Million Barrels of oil. Using a whole lot of gasoline, two. We love it. We are a mobile society. We will eventually use it up. Stuart wait a second, do you think that this is a single . The biggest ever. The numbers and oil are gigantic. 94 Million Barrels a day. In this country alone, 18 and a half Million Barrels a day. Just making our day. We are lovers of oil. We are lovers of the demand side. It is hard to keep up with production. Stuart driving our cars and using gasoline might this. Do you think it is enough to push above 50 in the relatively near future . I think in the summer we will push 50. Without a doubt. The bigger issue is, what is going to happen between russia and saudi arabia in terms of their overproduction in the fall . They are Still Producing too much. Do you think that the saudis will pull back . They have not so far. A are smarter than we think they are. They are playing the game with the russians. At some point, the russians have you blink because the economy is on the rocks. Stuart paul ryan is now speaking in washington. That unity in the Republican Party. Look after a tough primary. We are committed to putting that effort in. I want to be a part of the unified process so we are at full strength this fall. We cannot afford to lose this election to Hillary Clinton. Keep the obama agenda going. That is why we have to go through the actual effort in process of unifying. You have been very vocal in your differences on policy. What is it that you need to hear from him at some point to fully endorse him . I think that these are conversations we will have to have. I do not really know him. We had a very good conversation in march. We just need to get to know each other. We have a chance to meet with him. I would rather have a conversation in person. No offense. This is a big tent party. There is plenty of room for different policy disputes. We come from different wings of the party. Unifying the very wings among common principles. You spoke with ben carson last night. What was his connection with you . First of all, ben carson is a great guy. He wants to be enforced to help all of the various wings in the Republican Party. He wants to play a constructive role. The meeting tomorrow, can there be messages or is there a possibility where there are 10 nominees. We have a process where we are just Getting Started did just beginning the process. I really believe if we are going to be successful this fall, we have to unify our party. When the seven out of 10 americans do not like the path that this country is on and Hillary Clinton is promising to go down the same path, they have an obligation. Offering this country a choice. A better way forward did we just finished one of the most grueling primaries in modern history. It will take some work. That is a kind of work we are dedicated to doing. We are just keeping it going. Just in case. He is not going to. Briefly recapping what we just saw. The discussion is all about unity with donald trump. Paul ryan just came out and addressed reporters. We need to be at full strength to go into the election. He said he will not spell out in a kind of agreement which they have reached so far. Democrats. Have to bring you into this. What is your reaction to what you just heard . Ip feel for paul ryan. He is dedicated to his career. He has been consistent in what those principles are. Positioned himself as a conservative. All the reasons we know. Been around for a long time. Here comes donald trump. Taken his position. Whether it is defaulting on the debt, potentially. It is a complicated subject. Nonetheless you walk that back on the fox business network. I am glad that he walked it back. Something dreadful that donald trump has done. Getting the wrong side of the story. The taxes on the rich for donald trump. All of the things. He has walked us back. Some clarity here. He was on with Maria Bartiromo about cutting taxes. He said he would have to negotiate that tax cut here it is may be that some wealthy people get less than a tax cut and he thought. He has opened the door to carried interest. Clarity to exactly what he is saying. I think that that is what paul ryan is frustrated about. A house majority. Whether on women. Whether on muslims. Paul ryans estimation is not helpful to keeping the house majority. You are in a really bad spot. Potentially, they want to run intofour years. Stuart the bottom line is this, the meetings on unity has begun. Trying to rally house Members Around the con that this unity. What form that unity will take or whether they will achieve that, that we absolutely do not know at this time. I want to talk about Bernie Sanders. Fifteen points. Winning by a pretty good margin. The eligibility age for better care. I think that hillary is being drug to the left by Bernie Sanders. I do not think that you will disagree with me on that. You speak to any woman, any mom. I would like some help. [laughter] you have people in this very city, if not other places that spend one third of their income on child care. 45 federal programs dealing with child care. The people spending one third of their entire income. Women are driven out of the workforce this way. When will the left never understand that you cannot keep on giving everything away. How about an incentive to return back to the workforce. I know woman that cannot afford to go to work because they cannot afford the cost of childcare. Stuart i know what happened to gear up. I do not want to see it happen. It is happening as we speak. That is so simplistic. Going bankrupt the way half of europe is. That is what i am having to do. They need better subsidy. I am sorry. Will companies and other things. Childcare tax credit. 45 programs from the federal government already. You do not want a child tax benefit. You do not want that. Stuart i do not want to give you any more money. We are broke. It is your choice. Stay home with the child and not work but should work that is not my choice. You are telling women that they should not have children . I am fulfilling my responsibility. I am not looking for tax breaks. I can afford it. Most people are not as lucky as i am. They cannot afford to do it. Ralph peters is next. Varney company starts at 9 00 a. M. Eastern time. Here is what you missed last hour. Sounds an awful lot like you are about to endorse donald trump yourself. I have endorsed him. I would wait until he got the nomination. I felt that that was something that voters needed to do. He will beat hillary. I have known him my whole adult life. Nobody knows hillary better on the republican side. Donald trump will beat Hillary Clinton. President obama will become the first sitting president to visit hiroshima. Dropping an atomic bomb. Ralph peters is with us now. We are told, colonel, that he will not apologize. Are you comfortable with that . Just going there while in office is an apology. His mournful tone. This is a president who rejects the facts of history. Radical islam today. He feels so sorry for the sick tomes. He feels so sorry for the victims. The jews were killed in the holocaust. What about the torment. The tortures. The starvation. Hey, president obama who grew up in hawaii, what about pearl harbor . Why do you think that he is doing this . You are obviously vigorously opposed to it. Why do you think he is doing it in the first place . Because he never learned anything. The leftist doctrine of no nukes. He just cannot give up on it. Stuart, his trip is aa did trying up. The a. M. The bomb movement through american and european communist parties. Apologizing as though the United States was that evil player. I will tell you, they are our veterans are alive today who are on those islands off the coast of japan. On cruz ships ready to invade the home islands. We projected if we did that there would be millions of japanese dead did those people live because we dropped two bombs. Jobbing those bombs the Nuclear Umbrella was all that prevented world war iii. The european union, stuart, charlotte may, 46 years. A piece. The Nuclear Obama wants to apologize. We have to set you free and turn you loose and we did. You responded in your own special way. Thank you very much, indeed. More varney in a moment. You didnt read your Car Insurance policy. You just stuck it in a drawer somewhere and forgot about it. Until a dump truck hit your pick up truck and now you need a tow truck. Does your policy cover the cost of a tow truck . Who knows . You didnt read it. You cant even find it. The Liberty Mutual app with coverage compass makes it easy to know what youre covered for and what youre not. Call Liberty Mutual for a free quote today at coverage compass gives you the policy information you need at a glance. Available 24 7 on your mobile device. Switch to Liberty Mutual and you could save up to 509. Call thats see Car Insurance in a whole new light. Liberty mutual insurance. Stuart our next guest is a 14yearold man from alabama. He invented a vending machine and forth thursday and products. You have a round of applause. Nicely done, serve. How did you come up with the idea . Tell me. I started out in the Young Entrepreneurs Academy. It is a class that helps helped to start up your own company. I play baseball for 10 years now. Every time a kid got hurt, nobody could find a bandaid. I wanted to come up with something to help out that. Stuart really . You went to a baseball game. Somebody had a minor injury. You invented a vending machine for bandaid then the like. You figured out that you sold these products. You would have to pay somebody to sell them. You do not like that. That is why you want the vending machine around . Yes. So many minimum wage is out there. 15 an hour. That is right. What is this about you have a 30 million offer for your company. Is that for real . What kind of a person offered them money . It was a healthcare company. You were a very smart young man. I felt like the time was not right. Wanted to develop the company a little bit more. You want to grow the value. Stuart what is your next step . Getting these vending machines out there with your first aid products in them here at. Put the machines out on the market. How long will that take . Oh fully will have them out by the fall. We thought it was a cool name. Like recreational. Medical. Stuart have you invented anything else . We had a second one. Stuart you cannot tell me that. That is right. Maybe if you put out 50 million you will have your second idea broke in with your first idea. Fantastic. Fantastic. It was great to have you on the show, young man. It is a very good idea. You are a smart young guy. Thank you for joining us. Boycott chick filet. Look at these lines outside the restaurant. Our three is just three minutes away. If we do well in the remaining states and if we do very, very well in the largest state in this country, california, we have a fair it they live. Its alive. Stuart it was a resistible. We are talking Bernie Sanders here. In honor of Bernie Sanders. He took West Virginia. He is alive and well in this campaign. More on that coming up. More liberal lunacy on college campuses. A reporter asked students if america is exceptional. Not one of them says yes. Making those popular kind of bars. His product was not healthy. He fought him and he won. Ron paul is going to be here. While lawmakers are getting involved with a private company. Why . Ron paul wants to know. The government is spending millions of your dollars. We do not make this stuff up. The government is doing this. Varney company. The third hour is about to begin. The business on wall street. We are down about 100 points. Some of that loss is attributable to disney which is a dow stock. Down 4 . That takes about 40 points off the dow. Checked those retailers. This is not that, folks. They are way down today. Macys, pennies, target, kohls. 12 lower. However, this is the reason why the brickandMortar Stores are not doing well. The king of online selling. They are king of the hill at the moment. Amazon is up around 703 per share. Check wendys. Check mcdonalds. Topline. Mcdonalds going up. There is a tale there. It is about garlic fries and breakfast all day. How about oil. Oil storage. How much was in the supply chain came out earlier. Red i cohost. Elizabeth macdonald has been here several times before. Oil. Using a bot more of it. We have the canadian oil fires still raging. One of those fires is uncontrollable. All youll of 2 . Now i have something that is absolutely and completely different. The town of mckinney, texas. Land for a 1200 feet high school stadium. What do you think that would cost . This is a High School Football team. How much you think they pay to build that stadium. That is quite a bit of money. I know a bot of people are upset about this. I think that this will be really wonderful for the community. Three high schools going to be using this facility. You can use it for other large events. 63 million. Put it into art. You know what i mean. A stadium like that. Use it as a community opportunity. A piece of infrastructure. I think that she is right. You could hold a really good donald trump rally at a stadium like that and you would fill it. Would you not . Now, look at this. I have a number for you. All the Young Millennials that want to buy a new home. New home prices. That would, that is a real problem. You want to get into the market. I think that that will make me marry for money and not love. I will not be able to afford a new home on my own. Doctor right, not mr. Right. Yes. So more letters behind his name, the better. I do not know that a lot of people are really eyeing new homes at this time. All of those home flipping shows are huge. People want to invest in a property. Make it their own. I am shocked. I had no idea. That is a lot. The median is like to 20. We are a financial show. The government opposing 85. Stuart you are doing well. First appearance. Politics, come on. Bernie sanders beat Hillary Clinton in another state. He is not going away. The republicans are paying attention. Bernie did indeed take West Virginia. It is nothing short of embarrassing. Hillary clinton has now been defeated 20 times. A socialist from vermont. What is your reaction to that . I am sometimes happy for bernie. Rooting for the underdog. Hillary is top dog. I do not know why we are still kind of entertaining him. You were doing well. I should never think that a candidate for presidency is cute. His enthusiasm about the disk you. It will never work. I think that Bernie Sanders is really cynical. I think that his policies will collapse. I think that it is ridiculous. We would need venezuela. The opposite way. It would be sweet in. That is what he thinks. Denmark is saying knock it off, Bernie Sanders. Stop comparing your policies to us. Stuart i want to show you the swing state polls that we had yesterday. Trump leading by four points in ohio. Florida and pennsylvania. Bad news today sends hillary to the fundraising trail. If donald trump is doing so well, give me more money. I am really worried. In her fundraising email, she called the polls is erratic and unreliable. Stuart you are not a clinton supporter . I do not like her. Raising more money. Watch out, everybody. Just ignoring bernie at this point. She is all in on trump there. I do not think that you can ignore bernie. Okay. That is it. The 11 00 oclock. I will check the ratings to see whether or not you race. [laughter] thank you very much for your time. Staying on donald trump. He has promised me that these rallies will not stop if this campaign continues. He will rely on them. They are his key weapon. Come on in, katrina pierson. What do you make of it . You put this out that he will rely on these massive rallies. Not doing much tv advertising. Appearing on tv shows for free. This is what has worked before. These rallies are magnificent. If you go to a trump rally, it shatters every single state must that the meeting has placed on donald trump. There are young people. There are old people. That is why he always says what is more fun than a trump rally. They go to a trump rally and they go out afterwards. It will happen in the general as well. Okay. I have to bring up a thorny issue. He will not release his tax returns. I believe that makes him the first president ial candidate nominate since 1976 not to release his tax returns. He says we would not be able to understand them because theyre so big and so fat and so enormous. That will not go down well, katrina. I think that it will be fine. We are looking at the policies that mister trump does hold. Free and fair trade. That is what people care about. Worth the billions of dollars that you says he is worth. He revealed his tax returns, we would have a battle handle on how much he is really worth. We are going to have critics all the way through the inaugurations. It will be solely focused on getting out there. Having these rallies. Engaging with the public. Making America Great again. Fighting back against these horrible liberal policies that have hurt the country over the last eight years. The Republican Party needs donald trump because he is the new guy. Meeting the Republican Party for a billion and a half dollars. You know, he needs them. I think that it will be a joint effort. He tweeted after indiana that mister trump was a presumptive nominee. At the end of the day, the party will come together behind mister trump. We have seen recent polling. Extremely competitive in states that others would not even show up on the radar. Stuart you all mentioned it thirdparty. If thirdparty run recently. No. No it all. He said that from the beginning. We are really focused on bringing the party together. Those that want to come together. Moving forward in the general election. Next time, will you bring mister trump with you . I will do my best. We will talk to ron paul about the Senate Investigation on facebook and its anticonservative bias. Why are lawmakers getting involved with a private company . And despite new york city bill de blasio calling for a boycott, new yorkers love chickfila. Yes, they do. Lines around the block. What do you think . That aint right. I am coming. New york city mayor has called for boycotts. Chickfila is running away with the new york city fast food market. They are planning to build more. They plan to build a dozen in the news york natural area. He is for traditional marriage. That is why he is saying you should boycott it. The fast food chain in the country. In the term of number of stores. The security saying we are on track of being the fourth largest fast food chain in the country in just four years time. Stuart the senator. Mark zuckerberg. He wants an explanation. Why are news stories being purposely skewed left on facebook and away from rightleaning websites . Ron paul of texas is with us. I would have thought that you would have opposed a lawmaker getting involved in the affairs of a private company. Am i right . I do not know what his letter says, but i would certainly oppose. It is good to know that. The New York Times is a biased newspaper. Take it into consideration that you do not regulate those individuals that do that. I think that facebook actually started all this. Silicon valley is part of the state. They do what regulations. I think that that is really a big problem. They should not be involved in regulating. Stuart i think that we are on each other same page here. We want to listen to while paul ryan had to say earlier today. His meeting tomorrow with donald trump. I believe that we will be successful. Americans see that we have solutions to the problem. Seven out of 10 americans do not like the path that this country is on. Promising to keep going down the same path. Merging and unifying to offer this country a choice. That will take some Party Unification to do that. Unifying and coming together. That is the exact opposite. Congressman paul, i believe you said that a thirdparty is purely a dream. I do not think that it will happen. This is one area. I do not agree very much. I do not need the unification. I am must more interested in shrinking government. The party has failed. I did my best. Government never shrinks. Over and over again. Stuart do you think trump would shrink it . Just like all the rest of them do. They are happy. The Republican Party. The Republican Party on all of those old ones appalled that they have dealt with. A fifth of the people saying they will do this. Not making any attempt to do it. The principles of what this country is all about. Liberty is the answer to free market. Foreign policy is the answer. Not unifying ourselves around the conservatives that control the Republican Party. That is my big concerns. Stuart you are welcome guest on this program. We do appreciate it. Thank you for having me. Our government spends millions of dollars. What makes goldfish feels sexy. It is serious. You will not believe what else they are spending their money on. Heres the plan. You want a family and a career, but most of the time you feel like youre trying to wrangle a hurricane. The rest of the time, theyre asleep. Then one day, hr schedules a meeting with you out of the blue. And its the worst 19 minutes of your career. But you dont sweat it because you and your advisor have prepared for this. And when the best offer means youre moving to the middle of nowhere, the boys say they hate the idea. But you pretend its not so bad. And years later at thanksgiving, when one of them says what hes thankful for most, is this house, you realize you didnt plan for any of this you wouldnt have done it any other way. With the right financial partner, progress is possible. They are already 45 federal Program Supporting day care for the poor. If elected, hillary would make it 46. She is in the vote buying business. Using your money. Hillary has another proposal. Allowing people to buy into medicare before the qualifying age. It is more government care. Is there any dow not that it is Bernie Sanders that is pulling hillary ever further left. He has one of the last 10 primary states. He is splitting the democrats. Healing the split. Moving towards bernie. That is why, on the day that bernie wednesday, hillary feels compelled to make more promises. No problem using your money to buy them. You can fly across welcome town in minutes16, or across the globe in under an hour. Whole communities are living on mars and solar satellites provide earth with unlimited clean power. In less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. And if you thought that was amazing, you just wait. Thats why i run on quickbooks. Details. I use the payments app to accept credit cards. And everything autosyncs. Those sales prove my sustainable designs are better for the environment and my bottom line. Thats how i own it. Stuart sorry to say where 109 points. You are this is bit of a reaction when we are up well over 200. More bad news looks like Hillary Clinton with the whistleblower in the financial analysts. He is looking into the Clinton Foundation. He claims to have Found Charity fraud on a large scale. Judge in the napolitano is with us now. This gentleman, billy or tell looks at the books of the Clinton Foundation and spent a year and that doing this. They will publish a series of reports that they wait a minute, we dont know how much people took i and we dont know where it all went. Is also going to show a lack of authorization by the federal government and state governments to solicit funds in the amount in the matter the Clinton Foundation day peered is also provided the fbi with much of this information which has intrigued the fbi to the point it has begun with the relationship of the Clinton Foundation. President clinton speaking fees and secretary of state while she was secretary of state according to mr. Orr tells record for public documents to benefit people that had foreign entities attributed to the foundation. This is a public corruption investigation of primarily mrs. Clinton, secondarily the former president in their foundation. It is probably in the long run of greater political consequence than the email investigation. Its easier to understand of public corruption. Its easier to prove. Juries can understand this stuff better than they can be allegations of espionage. Stuart but judge cometh one more thing. Email scandal today, foundation scandal tomorrow, it better. It just piles up. And it all gets back to not is there enough evidence to indict but is there the will to indict . With the Justice Department present the evidence about mrs. Clinton or grand jury. If it does come up for sure sure she will be indicted. If it does not stuart you know what was said before. The president appears not to believe that there was malicious intent. I know that is not a legal expression. It doesnt matter what the intent was. Nonetheless, politically that flies. Mrs. Clinton never tried to fool anybody. She wishes to invest for whatever reason. The government does not have to prove intent for this crime paper 99 of federal crimes the government has to prove the defendant intended. You infer intent from the defendants behavior. Espionage by the way, lying to the fbi. The government does not have to prove intent, but if it wants to it can. There is an email in which mrs. Clinton says i want that document that says secret on it. Why doubt the worst secret and fax it to me from your home faxed in my home facts. That is an intention to remove a state secret im a secure location to a nonsecure location. What is that called . Espionage. Stuart you are such a nitpicking lawyer. You have this minutiae of expressions. What is that minutiae on your neck tie, mr. Barnett . Stuart tears. Will we see you tomorrow . Senator jeff lake out with this government report. List is with us and well bring us the three craziest, wild piece of nonsense. Liz this Cornell University researcher got a million bucks to study where does it hurt most on the human body to be stung by a beat. I couldve told you for free. He got stung in 25 different parts of the body. Lo and behold it hurts the most to be stung down there. Stuart wait a second liz 5 million to study due job burrs or when they sing. Yes, 5 million bucks they got. Moving along. What makes goldfish. Nearly 4 million bucks to find out what makes the gold fish feel. Its a raise because they become more sociable. Why this has to do much to begin with is because the mah one of 2 billion to daddy the zika virus. Gop megyn mccain is sending to my right. Youre blowing money on stuff like this. Transient that document out because they want to spend 2 billion nonzika instead of spending it there. Drunken birds. Drink or get a grip on it. A Reporter Asks College Students if america is exceptional. Not one of them said yes it is. Roll tape. America feels to me in relation to other countries wants to be at the top. Do you believe america is exceptional . No, not really. At some point weve taken a little downfall. All biscuits have ideas that we are better than everyone else. Train to megyn mccain, i dont want to argue whether america is exceptional or are not. I want to know why the youngsters think it is not exceptional. Its been almost 10 years since i was in college. In that amount of time we see stories over and over without a College Student dont seem to be living in the reality you an idea. The riots that broke out a yell because the professor dares say College Students can wear whatever Halloween Costume they wanted to. When i see things like this i want them to interview people pacific bell and veterans and people that join military because that is where greatness from people who believe in america still are. Theres real indoctrination happening on college campuses. Stuart didnt president up on the go to europe and say people americans think america is exceptional. Greeks integrates exceptional. So it was kind of putting a Playing Field out there. Everyone thinks they are exceptional so america is not exceptional. President obama has gone on one tour after another. It makes me sad about the College Student is when i went to columbia university, one of the most liberal of the United States. I was very liberal. By the time i left college i was a hardcore conservative because i saw a lot of hypocrisy when i was in college at the time. That does happen to some students. It happens in the workforce in the world and you have to pay taxes and see an individual account for yourself. The idea you are benefiting from americas great education system. Talk about student debt all you want. All the luxuries as americans than to say america isnt exceptional. Try rwanda or cuba and see what american exceptionalism is. Stuart the only country of any size and scope in the world that allows two citizens to be armed against a potential threat from the government. Just one area. The second amendment, where we are indeed exceptional. Property rights, too. You dont want to go the other way. You dont want that nationalism. You dont want that, do you . Im completely guilty of that. I think america is the greatest country. Im proud to be an american. I can come on tv and say whatever i want whatever i wanted i wont get whatever i want to stone industry for doing so. If you travel and often experience the road you the road youre really how Great America is. Kids are gone and done. I was young and once upon a time. We all grow up. Yesterday i was talking about a tattoo i got in college. People keep saying on camera we do things when were in college. Agree on tattoo. By the way thats another story. Megyn mccain, thank you for joining us. Hillary clinton losing to senator Bernie Sanders bigtime in West Virginia. Her position on cole surely did not help her. After the break, and ohio lawmaker, ohio part of ohio is in the middle of our country. This will respond in a moment to this. Will put a lot of coal miners and Coal Companies out of business. I am nicole petallide your thoughts business race. Down 121 points right now. For that doubt, the s p down half of 1 . Oil didnt be a draw down. Goodness or energy. Overall townhouse across the board. Caterpillar, microsoft, disney, walmart, nike under pressure. Also we have a 6 billion deal brought by the government. You can see here staples selling off over 15 , down nearly 40 with this deal by the government. And then we take a look here also see other movers. Hitting new lows all to the downside. Start your day at 5 00 a. M. Here on fox business. Totaled new car. The guy says, you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With new car replacement, well replace the full value of your car plus depreciation. Liberty mutual insurance. Stuart week numbers from fossil. Thats the company that makes watches and accessories. Week numbers down it goes. We call this the retail ice age, which actually attended the lecture retailers. Michael kors, all of them, read a rose. The problem here is not just a lack of demand, but the bricks and mortar problem. Buying stuff online, not bricks and mortar pit look at it go down. That percentage losses across the board. Then we have a new plan to make a highspeed billet traveled from l. A. To San Francisco in 30 minutes. The Organization Behind this idea has gotten some new partners. Who is backing it now . Liz ge ventures. Also the guy who founded Sun Microsystems pushing on 100 million financing. Ges big on highspeed rails in europe and china. So they are basically pushing for this product to be out on the market within less than a decades time. Stuart but back to his credibility. Ge is in there. You say that word in its got some credibility. So are we to believe within 10 years you might actually get this . Liz thats what theyre talking about. 750 miles an hour cuts to San Francisco and l. A. Stuart would have been to bullet train . Hillary clinton losing some of the Bernie Sanders West Virginia probably because the comments on coal. Roll that tape again, please. On the other candidate which has a policy about how to bring Economic Opportunity is in Clean Renewable Energy as the key in the coal country. We are going to put a lot of coal miners and Coal Companies out of business. Stuart coal country is a big area. Not just West Virginia appeared overspend bill johnson, republican from ohio is with us. If im not mistaken, part of ohio is very much coal country. My question to you is ohio is a very important swing state. This part of ohio vote against hillary because its coal country and because what she said about West Virginia . Absolutely, stuart. Good to be with you today. I knew when Hillary Clinton said that she was simply not going to deal with a while back. I knew it would be the death nail in her campaign in places like ohio, West Virginia and throughout the country were we still get a lot of our energy from the use of coal and what happened yesterday in West Virginia is proof of that. Stuart how much of ohio is actually coal country where mining takes place. Well, the mining takes place along the ohio river appeared eastern and Southeastern Ohio which is my district. Youve got to remember ohio itself, the entire state gets 45 to 50 of energy from coal. It is still a poll producing coal consuming state and that drives down the cost of utilities for manufacturing companies. Its a big deal for ohio. Stuart donald trump won big in West Virginia and West Virginia and does not get those mining jobs back. Ill restore those jobs. Congressman, im not so sure he can do that. I dont think you can bring back many coal mining jobs back because natural gas is so much cheaper. We are going to see market pressures like natural gas. Thats the beauty of a freemarket system like ours here in america that built the worlds greatest economy. We are going to see market pressures on coal. Thats exactly what we need to be doing. Get the pressure of washington d. C. And regulators like epa and interior department on the back of the coal industry and what to compete. I can tell you right now that is not what our friends in europe are saying. They are going to a higher mix of coal and Energy Profile because they cant afford the high prices of alternative energies like wind and solar, biofuels and not theirs. Stuart two questions. Number one, it do you think the procoal sentiment in ohio is enough to push trump over the top in november . Secondly, are you now a trend supporter . Lamented the first question first. Ive 18 counties in my district. District. 17 of my counties went for donald trump in the primary. As you well know i was an early supporter of our governor, john kasich because i thought he had the credentials to do the job. The experience and proven track record. The American People is spoken. Republican voters have spoken and it looks like donald trump is going to be the presumptive nominee. Im going to support the presumptive nominee because we cannot afford a cold shock killing president like bill clinton in the white house. Stuart congressmen much obliged. After the break, the ceo joins us. How does he feel about the government telling us what is healthy and what is not . He is with us in a moment. You pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . 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Plus, when you call now, youll get this magnifier with led light absolutely free when you call the experts at one reverse mortgage today, youll learn the benefits of a governmentinsured reverse mortgage. It will eliminate your monthly mortgage payments and give you taxfree cash from the equity in your home and heres the best part. You still own your home. Take control of your retirement today the Snack Company known as kind has settled a yearlong dispute with the fda over the use of the word healthy to describe those kind bars. Ginny lebowski is with us. Hes the ceo of the company. Welcome to the program. Why would the government say im a product like this come you cannot say its healthy. But the argument. There is a provision in the regulation 25 years old that defines the term healthy and everything that has, even if its healthy that was learned are really good for you like polyunsaturated, mono saturated we were not aware of that. Stuart you cant call it healthy if theres back. The in your kind bars i believe because id eat them actually comes from almonds. The number one ingredient is all meant. We didnt even promote it. It was just on the back of the rappers that have mentioned that our philosophy is to think healthy and tasty, socially impactful, wholesome and theyve now come around and recognized. Stuart you could put the word healthy back on a kind bar. Why dont you do it . You know, for us, going back to them and explaining why it needed to be changed was more an issue of principle. Nobody but a kind bar because of the language on the back so its not a priority to change it. We are now thankfully recommend not a claim, but more importantly regulation itself doesnt make sense. The current regulation you cannot something with with empty calories made of carved like a toaster pastry for children sugary cereal and that could be deemed healthy. Stuart youre kidding me. A sugary cereal can be deemed healthy because its got no. Correct. As long as it has low sodium and vitamins. The problem is we are discussing about macronutrients rather than real food and focusing on celebrating food. Stuart what you think about the government lay down laws and rules to say thats healthy, thats not. The trick is science is evolving a lot. Sometimes we follow these fats and reset or regulation and then we discover a dead but not all fats are created equal but you have this firm regulation. Stuart the alternatives is not the kind of regulation. Put anything you like on the label. This is healthy stuff and its awful. Im also afraid of. The most important thing is consumers and the industry self regulate in the media regulate and if you see something not ethical or correct that the markets make sure. Stuart dinner, i. E. Kind bars on occasion and i think theyre healthy. Im glad to beat the fda. Wyoming on occasion . Stuart very good. Ill answer that later. Thanks for joining us. Appreciate it. More varney after this. Stuart the most interesting story today. Liz the vendor came up with first aid dates, stadiums or recreation clubs. Turned on 30 million for it. Stuart thats right. It. Hes 13 years old. Hes up to 30 million turned it down. There is a story for you. Beat that, neil cavuto. It is yours. What a joke. Stuart hes sort team. Neil but he turned it down . Could they have made this work out . By the way, your candy bar guy stops me in the hall as im getting madeup and he threw one at me. You need this. I was really offended. Of never be on this program again. Neil he likes you i guess. Thank you very much,