Skip to main content

tv   Varney Company  FOX Business  January 26, 2018 9:00am-12:00pm EST

9:00 am
>> all right. thanks for joining us. big thank you to everybody at home who made this happen this week, and i have a great makeup artist. stuart: time you came back to america where you belong, maria. >> everybody deserves it. thank you. thank you so much. stuart: get out of the alps. >> yes,, stuart, i agree with you. you're right. it is time to get home. stuart: yes. come on back. bigger than the state of the union speech. bigger than the inauguration. yes, the davos address. the most important speech yet from the president and, in my opinion, it was a winner. good morning, everyone, here are the main points. america is open for business. america is the place to do business. come to america to innovate, create, and build. on trade, it must be fair.
9:01 am
play by the rules. don't steal our intellectual property. and then answered questions on taxes. reform is as important as tax cuts. first to do it since reagan. bonuses. now it's who will give the most. repatriation. very happy to see apple invest $350 billion in america. overall, our president promoted america forcefully. as to what he brought to the table as president, making money, he said. i'm good at it. peculiar now disappointment this morning in the economy on the october through december period, it is growing at an annual rate of just 2.6%. not as strong as we've been hoping for. yes, it could be revised later but that's a disappointing number. no complaints from investors. stocks will open higher again this morning. we should be up about 26,400. the dow rally. i should say the trump rally has now added $8.4 trillion to the value of all stocks.
9:02 am
we do have two political headlines. the white house immigration plan spends 25 billion building a wall and allows 1.8 million illegals a path to citizenship. second, the media tried to spoil the president's speech by announcing trump tried to fire robert mueller last summer. fake news, says the president. "varney & company" is about to begin. ♪ ♪ trump: there has never been a better time to hire, to build, and to invest and grow in the united states. america is open for business after years of stagnation. the united states is once again experiencing strong economic growth. the stock market is smashing one record after another and
9:03 am
has added more than $7 trillion in new wealth. as president of the united states, i will always put america first. just like the leaders of other countries should put their country first also. but america first does not mean america alone. when the united states grows, so does the world. stuart: there you have it. our president in davos. you heard it right there. less than an hour ago speaking in switzerland. joining us monica crowley with the london center for policy research. i thought he would go to davos and stick it to them forcefully. he didn't. in my opinion, that was very conservetory. >> yes. in tone and in substance. make no mistake about it, stuart, this was america first in the belly of the globalist beast. and how refreshing to have an
9:04 am
american president stand up for the man. he was proud in davos that he was elected to represent pittsburgh. not paris. stuart: i was told it was well received in the auditorium. we were told to expect some people walking out. i don't believe anybody walked out. i think they gave him a good reception. >> oh, absolutely. and they wanted to hear what he had to say because frankly, they have no choice. he is the president of the united states. he's providing over an incredible economic boom. and when the traditional engine of economic growth in the united states is going, the rest of the world is carried along. stuart: stay there, monica. i know we're going to disagree on immigration, but let's save that for a couple minutes time. okay? >> okay. stuart: thank you, monica. i'm going to stay on trump's speech. listen to what he had to say about rolling back regulations. roll tape. >> regulation is stealth taxation. in america, those days are over. we have cut 22 burdensome
9:05 am
regulations for every one new rule. stuart: joining us now is jim with the investment research firm. do you think that cutting regulations is as important to the economy as tax cuts? >> i do, stuart. every time it actually may be more important. you only get these tax cuts every so often. once every 30 years in this magnitude maybe once every ten years. but you can cut regulations every day. this is not deadline some obscure regulation that affects some small businesses. but those businesses when they get the green light on a project, they go out and hire people right away. so this is very powerful. the thing i like it, you can just keep doing it. stuart: it's abing on going progress. >> correct. you're not constrained by the congress. stuart: regulations you cut last year. >> exactly. stuart: tell me about this 2.6% annualized growth between september and december. >> it is disappointing. it's not bad compared to where
9:06 am
we've been the last nine years. but we did have these quarters back-to-back at 3%. we've had back-to-back strong quarters in the last nine years but every time it fell off a cliff. this one quarter 4.5% and then 3% but then it went down to almost 0. so there's the history of falling back again. i'm a little concerned about the first quarter. remember -- stuart: but why? wait a second. the first quarter of the year, that's january through march. >> correct. stuart: that should be strong because you've got all of these bonuses going out. you've got people getting more money in their paycheck as of february the 1st. >> well, the history of the oil price declined in 2014 and 2015, yeah, it's real money in your pocket. but people aren't spending it. they're saving it and paying down debt. that's part of the leveraging cycle. we also know monetary cycle works for the lag. the fed has been tightening since 2013. it could hit hard in the first quarter. stuart: well, all right. all right. all right.
9:07 am
i just want you to listen to this one. i've got breaking news, and it comes from fedex. this is in response to the tax bill. you've got that response from fedex. have we got what it is? ashley: we do. they're going to commit more than $3.2 billion in wage increases, bonuses, pension funding, expanding their capital investments. they're going to do a big expansion on their hub in indianapolis. bottom line is a lot of the hourly workers for fedex are going to see a nice pay bump here by april 1st. so another example. we just had fred smith on last week. and you asked him that question. he goes, well, we have to get board approval but there you go. stuart: they got it. ashley: $2 billion in wage increases and a variety of things. hourly wages going up. also pension funding and bonuses. but they haven't detailed yet what the bonuses will be. stuart: but to jim's point when you raise wages now. ashley: right. stuart: you've raised them in the future. ashley: exactly. stuart: that's a bonus that you're going to get year after year. it's a gift that keeps on giving. liz: 242 companies doing it. stuart: 242 companies. that's right. and now fedex joins the list.
9:08 am
that is big news. check the futures. where is the stock market going this morning? that's fedex, by the way. that was yesterday, i think. right. we're going to be up at the opening we will. it's not a huge rally by any means. up about 30 points on the dow but a nice gain for the nasdaq up about 30 points there too. how about intel? they reported record revenue growth. a record amount, they reported it last night. will you look at that? that is intel. up 6.6% premarket. that's a huge gain for a very big company. however, starbucks, their revenue fell short. apparently, a lot of competition in the coffee market these days and look at them go down. 4% lower on starbucks. got to get to politics. after all, money and politics our bread and butter. here we go. president trump proposed a citizenship for dreamers. in exchange for building a wall. 1.8million dreamers and or illegals. build the wall, 1.8 million
9:09 am
coming legitimately. i know that monica crowley opposes this. but let me put my side here first. that's a deal. you build the wall, you change the chain migration, you end the lottery. okay. you get 1.8 million illegals coming in. what's wrong with that deal? >> well, the original framework was give me the wall, and i will give you the dreamers. but the number on the dreamers was always 800,000. now they're talking about 1.8 million, stuart, and a lot of estimates are that is upwards of 4 million. that was not the deal. stuart: so what. you get the moderates from both sides to come in and do a deal. >> well, that would work if this country still had a significant number of moderates. stuart: but you do. >> you don't. stuart: in the senate democrat. those who are up for reelection in november. what is it? eight or nine of them? ten of them? and they're in trump states. you think that they're going to say "no" when you're going to get. >> yes. but impossible you're going to lose the left because people like elizabeth warren have said this is dead on rival. stuart: that's not a cost.
9:10 am
that's a win. >> you're going to lose the right who already feel betrayed. i was watching social media. they're burning their hats. stuart: of course they are. >> but if you lose the left and the right you're not going to have a deal. this president, if you had to point to one issue that got him elected and a lot of things did get him elected but the single greatest thing was building the wall. now, i think he would be happy to give the dreamers in exchange for the wall but 25 billion isn't nearly enough. and if this is the opening gambet here, i think this deal is in grave trouble. stuart: okay. we shall agree to differ. ashley: 50 billion. would that be enough? >> that might sweeten the pot. ashley: okay. >> the whole thing is i thought mexico was going to pay for the whole thing. stuart: thank you very much indeed. totally wrong but great to have you back. wait a minute. i just got a message from fred smith. ashley: what? . stuart: because he was on the show. the ceo of -- founder,
9:11 am
actually, of fedex. he was on the show the other week. and he said he couldn't tell us about bonuses and what have you until he had seen his board. and now e-mailed me directly and said attache thanks for the press release. i read e-mails in realtime. ashley: my goodness. stuart: let's get to. now, let's yesterday's close. that's fedex down. that's not premarket. that's yesterday's close. where are we going to open? i'll tell you now. we're going to be up about 30 odd points. and 30 odd points on the nasdaq as well. so technology looking good. how about tiger woods back on the golf course? he took about a year off at least from the game. he shot an even par. 72 in the first round of the farmers insurance open. he hasn't performed this well at an official tour event since 2015. i got -- don't say it. i hope he does come back strong. ashley: yes. stuart: more sports news.
9:12 am
vince mcmann saying he's bringing back the xfl football league. he says the league won't get political. players will stand for the anthem and if they've got a criminal record, they don't play. that's is interesting. politics hours before the president makes his big economic speech in davos. the new york times publishing a story claiming trump wanted to fire bob mueller. the president's response? that is fake news. you'll hear it next [ phone rings ] hey maya. what's up? hey! so listen, i was taking another look at your overall financial strategy. you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.
9:13 am
9:14 am
9:15 am
. stuart: let's look at the headline from new york times. backed off when white house counsel threatened to quit. here's what the president had to say about that. roll tape. >> did you want to fire robert mueller? trump: fake news, folks. fake news. call new york times. fake story. stuart: characteristic
9:16 am
mr. trump. john is with us. republican from wisconsin. it occurs to me that this headline in the times, i got it right here, that was published hours before our president made the most important policy speech of his presidency so far. i call it a distraction. what say you? >> are you kidding me, stuart? this could be the distraction as president trump goes to davos? or it could be a distraction from -- listen, a dirty dossier or great economic growth or a four-page memo that will show potential issues inside the doj and the fbi? of course it's a distraction. but what is done is it set off a left-wing media to froth at the mouth and pontificate about, oh, did donald trump think about firing bob mueller? guess what? trump didn't fire him. he's still there. this is a nothing story when you compare it to everything else going on in the world. and, by the way, it's eight months old. ashley: yeah,. stuart: do you think that president trump has anything
9:17 am
to worry about from the mueller investigation as it relates to russia collusion and obstruction of justice? >> do i believe there's any evidence of russia collusion between donald trump campaign and russia? no. but should he be concerned? yes. when you bring in democrat donors. hillary clinton donors into the bob mueller investigation, yeah, you should be concerned. when you have peter struck and lisa paige as we've seen their text messages to each other showing an anti-trump bias and a pro hillary clinton bias. when you have those people running investigations, be of course you should be concerned because you're going to get a fair shake by investigators who should be impartial when really they're partisan. so i hope that mueller does this the right way, but we should all be concerned based on the people who are inside helping mueller run the investigation. stuart: understood. sean, i'm sorry to cut it short, but i've got a huge news day in front of me. thank you for joininguses, sir. thank you. >> thank you, stuart,. stuart: the company that makes crock pots.
9:18 am
i know it sounds like a strange story to be dealing with. but we're dealing with it. the company is in damage control mode after the hit tv show this is us kills off a major character in a crock pot-related fire. this is a bigger story than you might think. it has financial implications, which we will explain after this building a website in under an hour is easy with gocentral... ...from godaddy! in fact, 68% of people who have built their... using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.
9:19 am
9:20 am
9:21 am
9:22 am
>> the new xfl will have nothing to do with politics. it will kick off in 2020. again, i think it's a tradition to stand and appreciate the national anthem with any sport here in america for that matter and any country they do that. so i think it would be appropriate to do that. you want someone who does not have any criminality whatsoever associated with them. and even if you have a dui, you will not play. stuart: whoa. strict stuff there. vince mcmann there, you have to stand for the national anthem, drunk or disorderly, you can't play. he wants to go after the nfl. >> yes. ashley: he tried it before back in 2001, it failed. but he's going to kick this off in 2020.
9:23 am
going to start off with ten teams. an eight-week schedule. 100million all coming from mr. mcmann. stuart: whoa. ashley: all of it. he says it's all about me. i don't have to worry about partners initially. he's going to make these games faster. about two hours long. and, again, you know, the national anthem. you don't stand, you're not playing. all of you i criminal record of any kind, dui, you're not playing. stuart: and he sold wwe stock to raise the 100 million to put into the. ashley: or his own money. he's trying to obviously at this moment in time with the nfl. stuart: and now the crock pot story. actually facing a pr problem after the season premier of nbc's this is us. now, wait a second, lizzie. why am i talking about crock pots? liz: well, the stock went down about a fifth. it also gave out a bad negative forecast. but the benign, innocent crock pot is now a terrible villain. people are throwing out their crock pots. why? jack pearson, the patriotiac
9:24 am
of this family dies in a fire that was ignited by a faulty switch of a crock pot, puts the house on fire. and they're putting out a statement saying nbc, you have a duty to factually inform people that this is a low wattage device. it's not a high voltage device so advised a statement from crock pot. they say this. they understand the concerns brought by last night's episode of the show this is us. we too are heartbroken by the death of this character but slow cookers exceed all safety guidelines. and standards. but the federal government hasn't said nobody has died from the crock pot. stuart: i believe this is fiction. and people are taking this seriously? liz: social media people are throwing out crock pots. stuart: and the stock went down 24%. i'm told that the show is a huge hit. ashley: it's very good. it's excellent. but now we've just ruined the ending. stuart: is it about cooking? ashley: no, it's a tv drama
9:25 am
about families. stuart: this is the last mention of crock pots on this program today. liz: crock pots are not a villain. ashley: it's all about human feeling. i don't know where that came from. stuart: it's friday. ashley: okay. all right. [laughter] . stuart: something positive. look at this. this is how our market's going to open up this friday morning and when i say open up, i say open up. it's going to be up about 40 odd points but look at the nasdaq. home of the technology companies. up about 30. points. stop laughing, ashley. ashley: sorry. liz: i'm going to bring a crock pot meal in for you. stuart: now you're talking. okay. all right. the open of the stock market after this
9:26 am
9:27 am
9:28 am
each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group.
9:29 am
we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. . stuart: heading into the open of the stock market today, we have a full plate of news. first off, our president rocked it in davos. earlier got out there and sold america. america is open for business, he said. and not a single person walked out. they appeared to like what they heard. they clap nicely, should we put it like that. ashley: golf clap. stuart: golf clap. okay. first item, we got news how fast the economy is growing in the october through december period. not good. only 2.6% on a annualized
9:30 am
basis. that is not great. we have a stock market, however, which is poised to get to 26 400 level. closing yet at 26,392. here we go 9:30 eastern time. we're off, running, and where are we going? i will tell you right now we are up all-time high. 26,453. we're up 60 points as we speak. that's a gain of about one fifth of 1%. let's compare that to the s&p 500 where we have a gain this morning of about -- about a third of 1%. s&p up 8 points and the nasdaq i think is doing very well this morning. where is that going? that is up nearly half a percentage point. again, that has to be another all-time record high for the nasdaq. ashley: every day. stuart: it's just about every day. ashley: yeah, pretty much. stuart: who's with me on a friday morning? well, the entire conspiracy has arrived. we have ashley webster, liz macdonald all and mike murphy
9:31 am
and watch out. jeff seeker as well. okay. seeker, i'm going to start with you. 2.6% annualized growth rate october through december. disappointing. >> disappointing but you have to look. there were two positive numbers consumer spending improved dramatically from a year ago and business spending improved where the disappointment came in was the trade deficit, which trump is addressing in davos. they have to get the trade deficit under control or they're not going to get the gdp over 3%. stuart: okay. mike murphy 2.6 annual. i call it disappointing. you say. >> the top number, yes. there's a lot more to this. as jeff was pointing out, consumer spending. business spending up 6.8%. that's very important. that talks about the strength in the economy. small and medium-sized businesses. how they feel going forward. so i think top line numbers disappointing. but underneath, this is a strong number. stuart: i have to talk about davos about an hour and a half ago, our president got up and made a major economic address
9:32 am
to the assembled multibillionaires and political leaders. he mentioned trade. and there's been a great deal of talk about trade and nafta recently. but mike, i have not seen any response on the stock market for all of these trade stories and trade war stories. >> right. i think if you listen to the president this morning, stuart. basically what he was saying was we want rules to be fair across the board. for everybody. it's no longer going to be good for the other people and bad for the united states. basically what he was saying is we are open for business, but we want the business to be fair across the board. so if you -- as a businessperson, that's all you want. that's all you expect, and it has to be. so i think it's actually what he's saying makes sense and people realize that. stuart: okay. it looks like he hit a home run. that's my judgment. okay? i'll make that judgment. now, we've got the bonus parade continuing. fedex has come out with bonuses and pay increases. what have you got? ashley: the president in davos called it a beautiful water if
9:33 am
you will of bonuses not just fedex. all of them. yeah, we have fred smith sitting right where seeker was last week. and now they're giving out $3.2 billion. this is how this breaks down. 200million will go to wage increases, most of which will go to hourly workers, so that's good. 1.5billion going into the pension fund. another 1.5 billion to expand a minneapolis hub and memphis headquarters. fedex has been up 17% over the last few months. liz: democrats still doubling down on their narrative that this is still crumbs. nancy pelosi saying that. stuart: again? liz: yes, just the other night. supposes them as being capable of insults but not capable of policy. have made sticking to that this is tax cuts for the rich narrative. stuart: okay. stick with it. ashley: mike murphy and i are saying at what point at what point will nancy pelosi walk that back?
9:34 am
>> but also a lot of news outlets saying this is only tax cuts for the rich. only going to go to the ceos of these companies. and that was three weeks ago and now we're seeing companies give money to the everyday man. the blue-collar workers. the fact are these are tax cuts for all people. liz: and wages. stuart: 3 million people are getting the bonus checks now as we speak. tens of millions next month get an increased paycheck because of the tax cuts. ashley: yes. stuart: if that's peanuts and crumbs, i'm sorry. i disagree. now, we've got such a market rally here. especially in the big name tech stocks. i want you to take a look at what's on your screen right now. if apple gets to $194.77. if amazon gets to $2,075 and if alphabet gets to $1,439, guess what? those three companies would've a value each of a trillion dollars. liz: and your microsoft would've to be in the 130, 140
9:35 am
range. stuart: i'm praying. all right. but let's leave that out for a second. that's where they've got to get to. that's where they are now. apple 171. amazon 1389. alphabet 1177. mike first. who gets to a trillion first? >> apple. although, it doesn't have the most growth, it's the closest there. it has the shortest road to travel. i feel very confident saying all three of those companies on the screen will be-trillion-dollar companies. stuart: in what kind of -- >> 12-month. stuart: in 12 months? you've got to be kidding me. >> that's where -- people talk about the past, stuart, and how they've related over the course of the last year and two years and three years. these are companies where you're getting the growth. look at a company like amazon. if amazon continues the way they've been performing, they could actually jump ahead of apple. but i believe apple will be the first one to get there. google will be there and amazon will be there. stuart: almost with a straight face; right? liz: one company would be four
9:36 am
times the value of russia's entire stock market. stuart: which one gets to a trillion first? >> i think you know who i want to get to a trillion first. stuart: amazon. >> amazon. but i will tell you, amazon it is the dark horse in this race, but they have the greatest likelihood, and i will tell you why. it's because they have the most aggressive acquisition strategy in place. amazon could theoretically get themselves there before apple by gaining market value of a few hundred million within six months by acquisitions. i -- i'm looking at their acquisitions now. i've been on the money with some of their acquisitions, and i think they're going to make a very, very big one soo s. stuart: you've been on the money with their acquisitions. and you've made a ton of money on their acquisitions, haven't you? >> yes. stuart: it's okay. it's okay. it's okay. for the people of new jersey to make a lot of money. it's all right. check the big board. where are we? it's friday morning. we're well above 26,400.
9:37 am
we are at 26,439. a gain of 45 points. now watch this. there's a dow component. it's called intel. it's an old established company. came in with record revenue growth. whole ton of money coming at them. and look at the stock. 6% higher. you don't see that very often from major company like intel. other side of the coin. starbucks, the amount of money coming in, not so good. stiff competition in the coffee market. that thing is down 4%. nike, the big investor william ackman, his hemorrhage fund. they made a new bet on nike, and it's already earned them a 30% return. nike not moving on that news this morning. colgate says growth this year will be challenging. don't say that. down goes the stock 4.5%. now, this is 9:37 eastern. at this moment, there are three dow stocks hitting all-time highs. how many will it be by the end of this session?
9:38 am
i don't know but walmart -- ashley: it's always caterpillar, visa, united technologies. it's the same group. it's amazing. day after day after day. stuart: look at walmart at $107 a share. visa 125. ain't that something? on my prompt i see the word amazon. that means we've got an amazon story of the day. they've reportedly met with the ceo of boxed to discuss a merger. why am i big on this? because boxed, the guy the ceo regular guest on this program. we have given him so much free advertising. liz: yeah,. stuart: and now it's highly likely that that young man who started the business about four or five years ago in his garage, he could be selling to somebody. maybe amazon for a half billion dollars. liz: kroger is the one that's going to buy it for half million. but now amazon's in the mix? . stuart: he's talking to them. >> i say it often, stuart. technology, startups are changing the way we live. boxed, i had lunch with one of
9:39 am
the board members of box earlier this week. i think there's a deal there in place for them because how we consume goods. how you get products to your door is changing and boxed is at the forefront of that. they're not the last startup to be acquired by these companies. stuart: no wonder you have a smile on this face. you come on this program, you meet people like jay, you have lunch with him, introduce him to real money, and then here you are smiles. >> i love jay too. stuart: good man. >> but the reality is that the grocery acquisition, what amazon did with whole foods, they are going right for the throat of costco. they will buy grocers, they will continue to buy grocers and boxed is an incredible acquisition for them because it allows them to be a serious challenge to costco. right now they're a little bit behind costco. this would give them a little -- liz: so that's why walmart is popping right now to record highs. they just signed a deal to do
9:40 am
online grocery delivery hooking up with a company in japan to do it in japan. stuart: really? liz: yeah, that's why walmart is hitting record highs. stuart: 107 on walmart. $1,387 on amazon. how about that? it's that time. didn't it go fast? speeds along. big smiles from mike murphy. this young man right here. whorer going to say goodbye to. jeff and mike, thank you for being with us. check that big board now. we're up 61 points and climbing slowly. 26457. now we're up 66. wild video from france. a brawl breaks out at a grocery store. what caused it? the answer, you won't believe this. i can believe it, actually. new tell a. ashley: yeah, i get it. stuart: a riot. and the former mueller team members lisa page and peter struck revealing they were worried about being too tough on hillary. more varney after this nah. not gonna happen.
9:41 am
that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please...
9:42 am
[ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lowr than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. everything is installed in as little as a day by a kohler-certified installe. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of min. call for a free kohler night-light toilet seat with consultation... or visit for more info.
9:43 am
. stuart: noddest gain. 63 points higher at 26,458 as we speak. look at ge. now they're flirting with a $15 handle again as wall street likes that expression. flirting with a handle. more problems with the tesla model 3. >> let's take a look here. we're watching tesla. tesla is coming out strong, and we're rebeautying. everything that says -- that they're not going to be on target saying we're not going to be on target for our model
9:44 am
3. obviously what everybody is waiting for. it's most affordable. it's $35,000. there was a report that there were production delays again at the gigafactory battery plant in nevada. they said they are sticking with their plan, which they already gave out earlier this month. it was a toned down plan. 2,500 model 3s by the end of the first quarter. about half of the original plan a while back. but they said they are on track for that. in fact, they are on track for 5,000 per week by the end of the second quarter. so they're saying this production delay talks. that's all hogwash, and they are right on track. stuart: hogwash. >> direct from. stuart: also thanks, nicole. we will take that hogwash. here's a story for you. deep discount on nutella caused a riot at a supermarket in france. ashley: yeah, and i totally understand it. there was a rumor -- that there was a severe discount in nutella in french supermarkets.
9:45 am
70% off. the french go nuts about nutella and this is what happened. huge fights. people pulling hair. bloody noses. riots, fights in the parking lot. apparently the french consume about 100 million jars of nutella every year. they absolutely love it. second only to which other country? . stuart: u.s. ashley: no. germany. liz: really? ashley: yep. so there you go. stuart: move on. ashley: yeah, we'll move on. stuart: we like it. it's a surprising story. and now something completely different. a series of missing texts between struck and paige have been found. they were said to be too tough on hillary. here's a quote from the text. first of all, paige says this. one more thing. she might be our next president. the last thing you need is us going in there loaded for bear. you think she's going to remember or care that it was more doj than fbi? and then struck says agreed. i called bill and relayed what we discussed.
9:46 am
he agrees. i will e-mail you and redacted same. mike huckabee is with us. i think most of our viewers are completely lost with all the names and who said what to who. bring us up to speed. what do those texts imply? >> well, they imply that peter struck and lisa paige didn't have enough to do for we the taxpayers are paying them and neither one of them should continue to be employed. that was not, by the way, video fighting in france for nutella. that was people scrambling to get one of those fbi jobs where all you have to do is sit around and text each other when you're having an affair with one of your fellow employees. but, stuart, the big story here that we cannot overlook is that this indicates that the highest levels of our most trusted law enforcement agency. there were people who were trying to actually influence the u.s. election. when i hear people say, well, what about russia? russia was trying to influence the election, they well may have been. but far less of damage to the
9:47 am
american people is that a foreign government would try to influence then that our own government would try to influence and swing an election in favor of a candidate. that gets to the very heart and soul of our constitutional process. stuart: governor, i have to tell you that this is my opinion. the idea of collusion with russia. russia interference changing votes in the election. that's yesterday's story. it's a nonstory. bring on within the fbi, which was trying to undermine the annual-elected president trump. that's the story now, isn't it? >> it most certainly is because it turns out that most of the story about russia was based on a dossier paid for by the hillary clinton campaign and the dnc and orchestrated by people who had direct ties to the fbi and justice department like bruce orr whose wife worked for fusion
9:48 am
gps. that's why this is so incredibly important, and i hope the american people don't get sucked out of the vortex of reality and listen to people like the washington post and the new york times and instead will focus on the actual texts. not even what we say about it. just look at what these people were saying. focus on that and tell me you don't smell a rat. stuart: by the way, governor, on our screens, you probably didn't see it. but it was president trump officially leaving davos, climbing onboard air force one. he's on his way back to america. now, i have one more for you, sir. the sinner cher lashing out at your daughter white house press secretary sarah huckabee sanders on social media. here's the tweet. will someone please tell sarah huckabee sanders to stop dressing like a sister wife. okay. go at it, please. >> well, of all the people to give fashion advice on how to professionally dress like a businessperson, are you serious, cher? you're going to be the one? the person who dresses like a cigarette girl at a casino on
9:49 am
stage, and you're going to tell my daughter how to dress? i just find that beyond laughable, and it shows you how utterly out of touch and what kind of "la la land" these celebrities live in. but, you know, sarah's doing just fine, and i think the way she dresses is far more in maybe let's just say comfort with the american people than the way that cher would dress on stage. so if cher wants to give fashion advice to my daughter, let her go ahead and let her become the laughing stock of the nation doing so. stuart: you know, governor, i think you just nailed it very well, sir, with a smile on your face. that's pretty good. governor huckabee, everyone. we like him. thanks, sir. appreciate you being with us. >> thank you, guys,. stuart: check the dow 30, why don't we? the rally continues up 68 points and about two-thirds of the dow 30 i'm calling it 20 dow stocks are up. nancy pelosi at it again doubling down on her comments that those tax cut bonuses are just crumbs. you will hear it again.
9:50 am
more varney after this building a website in under an hour is easy with gocentral... ...from godaddy! in fact, 68% of people who have built their... using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.
9:51 am
9:52 am
9:53 am
. stuart: 8:30 eastern time this morning the governor reported that the economy grew at a 2.6% growth rate at the end of
9:54 am
last year. i think that's disappointing. come on in, kevin, chair of the white house council of economic advisers. big smile, but i do think it's disappointing. what say you? >> well, actually, i think that might even be the best metric of how strong the trump economy has become is that we can get a number that's almost half a percent higher than the average over the obama administration, and disappointing; right? i mean, let's dig into the numbers a little bit, though, because i think there's interesting stuff in there. we've been thinking like it's the pregame warmup. and we've got our tax cuts enacted. they kick in january 1, and we're going to start to see the growth lift up above 3% going into next year. stuart: hold on a second. >> but we're carrying three in. and i think -- just let me finish. i know you've got lots of good questions. but if you take the average, we're averaging about 3% going into next year over the last three-quarters. stuart: so your forecast is that when we get the numbers on the first quarter of the
9:55 am
year january through march with the bonuses kicking in and the tash are tax cuts, you think it would be significantly above 3% for the first quarter of this year; right? >> well, there's always ups and downs it and if there's blizzards, some of it moved to the next quarter. you said it would be a surprise. so i think it would be a surprise to lots and lots of forecasters if we didn't have a 3% year next year. and the 2.6, there was an interesting thing, which is something we were looking for as an early effect to the tax cut, which is that firms because their tax rate was higher in 2017 than it will be in 2018 had an. >> no, i was not. stuart: load deductions into last year and so one of the things we thought might happen would be there would be a surge of imports in december as people, you know, got their deductions under the high rate and then make the sales of the low rate this year. so the big negative surprise really was that. that there was a surge in imports, which we think is related to tax timing issues.
9:56 am
stuart: real fast, kevin. can you see any quarter in this calendar year 2018 where we will hit 4%? any quarter at all in this year? >> if you go back and look at 3% quarters in history, then you are -- 3% years, then usually what happens is you've got, like, a 1% and then a 4.5% and then the average is three. you know, that would be a pretty common pattern. so i think that if we have a 3% year, the odds of there being a 4% quarter are probably like 50/50, something like that. stuart: we'll take that. thank you again. i'm sorry it's so short, sir, but it's a huge day for news. and that's the business we're in. thank you for joining us. appreciate it. thank you. now, president trump -- this story takes some believing. president trump asks the museum in new york, home of the elites, he asks for a van gogh painting to hang in the white house residence. the museum painting suggested, no, not the van gogh.
9:57 am
you can have a golden toilet. i think that is a flat out insult. my take on that in a moment
9:58 am
9:59 am
10:00 am
president trump this morning said america is open for business. he said it in front of the global elites in doorposts. >> there has never been a better time to hire, build, and invest in the united states. america is open for business and we are competitive once again. >> we will have much more on that ahead. the dow hits another all-time high. we have all the big stories coming for you. immigration and the muller probe, but first, this. this is a big day for money in politics. forgive me if i digress to
10:01 am
what might look like a minor issue. the story i bring you speaks volumes about the elites and how they look down on this presidency. this is a story of extreme disrespect. president trump asked if a van gogh painting with snow could be displayed in the white house living quarter. it hangs in the guggenheim museum in new york city. the chief curator said no. the van gogh was not available, but she offered an alternative, an 18 karat fully functioning gold toilet. this work of art had been displayed in the restroom at the guggenheim and had been used by thousands of people. i suppose you could dismiss this as tongue-in-cheek humor but i don't take it that way and i don't think most americans will be amused. it's a direct insult to the president and the first lady. it was a deliberate insult.
10:02 am
she is one of the elites and she did tests this president. she wrote this when he was elected. >> this must be the first day of our revolution to take back our country from hatred, racism and into holleran spread she railed against climate change. this is a minor but it is contempt. the guggenheim offers a toilet. it's not just a slap in the face for trump but it's a slap in the face for the presidency and the country. if she believes in our beloved country she should apologize and resign. the second hour of "varney and company" is about to begin. ♪ ♪ ♪ alright everybody, i will
10:03 am
come down. the dow is up 86 points. we at 26000, 480. look at that. we are 18 points away from 265. the dow component, intel, huge amounts of money and that stock is up 8%. that is a huge gain for that company. starbucks, not so much money coming across the transom, stiff competition and it is down four and a half percent. don't ever forget about general electric. it may be fading away. it's down another 1%. sixteen dollars and very small change on ge. i understand this is a big newsday but i have to address the golden toilet outrage that i described a moment ago. bill is joining me, a member of the wall street journal editorial board. i think i was rather restrained, what you think. >> i think so.
10:04 am
>> i think it's a damn outrage. >> it is, it's typical of a lot of the disdain for donald trump. it's incredible to me that probably the same person is one of the people who was supposedly outraged by his crude use of language during the meeting and they're always criticizing him for being vulgar and yet this is what they do. i would add, i don't think it's just meant as an insult to the president and the first lady but it's meant for his followers spread this is the language of the deplorable's. i think what they don't realize is that's how a lot of trump followers take this, as an insult to them. >> it will make them angry as hell. look at me. i can barely calm down. president trump and his big speech this morning at the world economic forum, he said america first. roll tape. >> as president of the united states, i will always put america first just like the leaders of other countries
10:05 am
should put their country first also. america first does not mean america alone. when the united states grows so does the world. >> america is the place to do business. america is open for business. come, innovate, create, build, he was basically asking for money. >> and giving them good reason too. it's kind of a chamber of commerce speech. i thought it was a good speech. i didn't agree with all parts but i thought it was done very well. two years ago, america first was taught to be a recurrent nation of lindbergh and cutting off from the world and you see what he meant. he goes on to say america first does not mean america alone. he is basically saying what's good for the united states is good for these people and all those businessmen the night before who got up and talked
10:06 am
about what their companies are doing, it's a good day for him. >> i think it was conciliatory. i don't think it was a poke at the elite. i expected him to stick it too him but he didn't. do you think it was a home run? >> i don't know who was a home run. it was a well-done speech. i think one of the underestimated things for donald trump, as a former speechwriter is that his set speeches are pretty good. the one he gave them poland, for example and they're a little unexpected. i thought he would grow a little more. i thought he was going to stick it to them a little bit. >> i was hoping for a little of that. >> it was more on a regular tune about being optimistic and we all benefit when the economy goes. >> he stuck to the teleprompter. >> yes. >> bill, thanks for joining us.
10:07 am
first time on the show, i think. >> i think so. come on back son. >> check the markets. look at this. we are up 78 points, 26470. i want to bring in ted, america first, i say it's a home run speech on the economy. what says ted oakley? >> we are hoping it is. everybody wants that pressure. >> are you not a trump fan. >> yes, i'm a trump fan, i'm a capitalist fan. i wanted to happen, i just want things to work. we are a little slower out of the box and people probably would be. >> muller, everybody thanks there is a pullback coming, and it has to be at some point. have you any idea what would cause the pull back and when it might come? >> the problem with this market and all markets at highs and major lows, they run
10:08 am
on momentum. you subtract, you basically disconnect and when you're running momentum you have to get something to break the momentum. it's the same way at the low and high. think what you have to have is you either have an outside item, that is not germane to the market, south north korea or something like that or you get to a situation where it just drops on its own weight but when you're in a moment a market has nothing to do with valuation. >> i know what you mean. it's up, up, up until it's not. the question about the big technology companies. we have three big tech companies that are approaching a trillion dollars in market value. in other words, they have apple, if it gets to 194, apple is worth a trillion. if amazon gift to 75 it's worth a trillion.
10:09 am
which one of these three do you think gets there first? >> i would guess apple, only because it's closest, but the other, google is right behind them and amazon is moving quickly, but my guess would be apple. it's interesting, but i don't want to guess, i want a prediction. i want ted oakley to say yes, it's apple. >> okay, yes, it's apple, but, but 2000 let me give you the top four in 2000. microsoft, ge, cisco, intel were the most valuable companies in 2000. only one is more valuable today and you own it. so when does microsoft get to a trillion dollars. >> i don't know. it's behind them, but you gotta give him credit because they been in there for 18 years'.
10:10 am
>> to wrap this up, you do think one of the companies we mentioned will get to a trillion bucks. >> you would think because it 18 - 20% up for them. >> we think we have people on the program who will get there in 12 months. >> while i'm not going to say that. ted, thanks for joining us. >> now, when i say different, i mean completely different. florida wants to make daylight savings time permanent. >> they don't want to keep switching the clock so they are moving to do that and they're also going to put the entire state on eastern time instead of the panhandle being on central time so now for the joins arizona and hawaii as having no daylight saving time. >> do you know why we are doing this story? four of the top markets are in florida. shout out to florida.
10:11 am
it will mean an extra hour at the beach and you don't have to sit around with clocks that i don't know how to change. don't get me started. now this, the olympic stadium in seoul south korea cost 100 million to build. it will be used a total of four times, opening and closing ceremonies at the olympics and paralympics, that's it. then they are going to tear it down. south korea doesn't want to become a ghost town. it's located in a remote area in the mountains 30 miles away from a big city. hundred million dollars, will be used for times. and stand for the anthem and no criminals allowed on the field. will work this time? we will see. we will discuss it. president obama touted a $40. hour increase in paychecks
10:12 am
pretty $7000 a year's a lot of money for a lot of families, but now nancy pelosi calls the same amount of money pathetic crumbs. were following this. we won't let it go. ♪ ♪ ♪ [ phone rings ] hi, tom. hey, how's the college visit? you remembered. it's good. does it make the short list? you remembered that too. yeah, i'm afraid so. knowing what's important to you... it's okay. this is what we've been planning for. thanks, bye. that's what's important to us. it's why 7 million investors work with edward jones.
10:13 am
with smart, revolutionary hhearing aid technology available right now, why does it take most of us 7 years -- when we know we have hearing loss -- -- to actually do something about it? will you continue to feel left out... to constantly ask people to repeat themselves... and to miss out on so much in life... for all that time? really? with the aarp hearing care program, provided by hearusa, why wait even 7 minutes? call right now. and receive the highest level of quality, care and value in the industry. which is why so many people have trusted us to get their lives back. because the time to enjoy virtually invisible hearing aids... to enjoy how they connect with your tv... to enjoy their extraordinary sound right now. discover hearing care beyond compare. attention aarp members. call hearusa today to find out how you can save an additional $500 off
10:14 am
your next purchase of a pair of digital hearing aids. call us today. my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images.'re done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy. he gets the best deal on the perfect hotel by using. tripadvisor! that's because tripadvisor lets you start your trip on the right foot... by comparing prices from over 200 booking sites to find the right hotel for you at the lowest price. saving you up to 30%! you'll be bathing in savings! tripadvisor. check the latest reviews and lowest prices.
10:15 am
fedex announced more than three-point to billion dollars worth of bonuses and wage increases banks to the tax bill. he hinted on this program earlier this month. my guess is we will be responsive to the tax bill. >> fob bonuses, it might be increased wages which we do every year anyway.
10:16 am
he e-mailed me and said here's what we've got. >> three-point to billion. 200million will go in wage increases. everyone is getting a nice boost. they will get another billion .5 into the pension fund and upgrade one in memphis. all of that is great for the economy. your spending money on upgrades but more importantly your giving workers more money. >> that brings us to debbie wasserman schultz. she is not impressed with the bonuses. >> it goes very far for almost anyone. >> what? she is not sure that a thousand dollars goes very far for anyone.
10:17 am
we did find this tape from 2011 showing president obama touting similar tax. >> our failure to do this could have an effect on the economy as a whole. it's not a game for families who don't have money to lose or families who are out there looking for a job who might lose their home if uninsurance doesn't come through. it's not a game for millions of americans who will take a hit when the entire economy grows more slowly because these proposals aren't extended. >> $40? would be. joining us, host of the blaze, lawrence jones. it seems to me like they are running away from tax cuts and the benefits thereof because
10:18 am
they don't want to know about the benefits. >> i actually believe they know the benefits to the american people have been so good for the american people that it's kind of excited the base. so what they're doing, they know the benefits. they see when they're going to this district and they want to distract. that's why you see him trying to shut down the government and talking about the president while he's overseas, leaking information. they know the benefits and they want to distract. >> i think it's a big distraction. the trump immigration plan, it would offer a path to citizenship for 1.8 million dreamers, but it would get a wall built. would you be okay with that
10:19 am
kind of deal? i know you are a libertarian. are you okay with that deal. >> actually, i am okay with it. the border security has to be first. if we get a wall, if our border agents are on the ground to get the tools they need to make sure they are safe, they get better technology and the wall, i'm okay with it. i am literally okay with that but that has to be first. a lot of democrats want to put the cart before the horse. if they can get him a pathway to citizenship, i think it's a fair deal. i think you can bring in a lot of moderates from both sides of the aisle. i think you've got a deal. what say you? they would accomplish a lot of
10:20 am
things. if he closes the steel, along with, he just finished tax reform and we have consumer confidence at an all-time hi, 45%, 45 year low in black unemployment, this is a big accomplishment. if he closes this, i think the reelection is pre-much one at this point. >> there is a good out. come see us soon. were anxious to have you on the set. still ahead, reports that president trump wanted to fire robert muller and trump call that fake news. we'll discuss that coming up next. ♪ ♪ ♪ ♪ ♪ ♪
10:21 am
10:22 am
10:23 am
10:24 am
president trump denies reports which said he wanted to fire robert muller, the special counsel in the russia probe. he said it's fake news. on the phone is judge andrew. i know you're going to say this is a really big deal, but i'm going to question that. there is no collusion, there is no obstruction of justice, why are these reports always such a big deal? >> you know stuart, it's always a pleasure to be here. i don't know that it's that big a deal because they don't know what happened. the white house inside version from our colleague john roberts is at the president used, allowed about how he could get rid of bob muller.
10:25 am
he mused aloud. >> i'm afraid we lost the judge on the phone. >> and i pushed back because the president can't fire muller. has to go through the attorney general's office and you don't need to say, to prove obstruction of justice. if there is intent by the president he could be charged with obstruction of justice. the judge is still there. come back in if you can. >> yes, i love all of you but i have to disagree. the president can fire anybody in the executive branch so he certainly could fire muller. but the catastrophic results, there would be no legal result other than someone else coming in to replace muller. but he didn't fire him and this was just an off brand comment. this is the new york times
10:26 am
trying to make a big deal story just as the president is giving a major speech on the economy. it stinks. >> i agree with you. , but the consequences of firing him would not stop the investigation. it would just handed off to someone else that he would appoint. >> i agree with the president. look. i'm saying it's a nonstory. judge, thanks very much for being with us. i know it's your day off. we appreciate you being with us. >> the speech, i'm in a caller homerun. president trump sold america big time, invited people to bring your money here. maybe someone will do it. by the way, the dow is at another high. we are all over the stuff. president trump and benjamin netanyahu meet and pledge
10:27 am
their support to one another and i want to know, why does america's jewish vote go to democrats overwhelmingly? i will ask that question in our next our -- in the next hour
10:28 am
10:29 am
10:30 am
we have a gain of 58 points on the dow industrial. check out those big tech names. most of them are on the upside. netflix, and amazon are up. alphabet is down a fraction. back to the big presidential speech today. here's what he had to say about trade. >> we support free trade, but it needs to be fair and it needs to be reciprocal because in the end, unfair trade undermines us all.
10:31 am
the united states will no longer turn a blind eye to unfair economic practices. john is with us, he is the ceo. in all this talk about trade in tariffs and a trade war, i have seen no market negative reaction at all. have you? >> i have not. you saw the campaign rhetoric, the adjusted tax that was dropped in this potential trade war, not apples to apples comparison. it was campaign rhetoric. now i think it's rhetoric to negotiate a better deal. when he keeps saying america first not america alone, i think that's a great point. i thought today was one of his best speech. a home run? grand slam. i thought was excellent. he stayed on., he touted the accomplishments of his ministration and he also said he might be willing to go back
10:32 am
into tpp. to me there was nothing wrong with that speech. >> that's a big deal. if you want to go back into tpp, that will be a big deal. now how come you like oil companies? >> why? >> i do. book, oil has been dead for about five years. they all have a 3 - 5 and half% yield but the market has been much better. there's been a replacement ratio of only 1 1111%. it's not something that will hurt oil prices huge right now but supply and demand is asymmetrical and now you are seeing these guys can make money at 50, i think these major oil companies are in a great position. you own most of the oil companies that's interesting.
10:33 am
>> all day long we've been asking this question to all our market gas. it is as follows. which of these three companies will be the first to get a market value of a trillion dollars? apple, amazon, alphabet. >> it's a great horserace right now. it will be tough but i think apple because there simply closest but i think google has something really important going for it, they have 50 of the top ai scientists working for them because ai is the future and amazon bought which is the website in the middle east," doubles the middle-class the united states and india. >> so answer the question. which gets to the trillion first. >> apple gets there first but i think amazon becomes the biggest. >> when does apple get there? >> i think it's this year. i do own apple, for full disclosure. >> i've owned it since the '90s when people said it was dead money then.
10:34 am
and i'm very happy right now about my apple stock. >> thank you very much but back to the tax cuts, you can add fedex to list of companies giving bonuses, however, debbie wasserman schultz and nancy pelosi are dismissing these bonuses again, not just once but again dismissing the bonuses as crumbs. what is behind us. i don't get that. thousand dollars to walmart employee, or for anybody is big deal. what are they up too. >> it's a huge deal because it's also more than the average american has in savings. that's three or four months of a car payment. it might be the vacation for your family, but what's up, this is clearly the new line. nancy pelosi has used it before. it's contempt for the american people and the fact that this does matter to them. if you look at what the democrats have had to deal with for the past several
10:35 am
months, their position on dreamers, they caved completely. you have this memo coming out and the text messages that were found, donald trump is doing extremely well and suddenly they are back. i don't think they can help themselves. tickets combination of contempt for the american people who they believe put them in this position, a condescending dynamic, nancy pelosi is the richest woman in congress. she is the seventh richest person in congress. these are individuals who genuinely don't understand all how a thousand dollars could make a difference. >> if they admit that the bonuses are good for american people and not because of the tax cuts, they are implicitly saying the tax cuts are okay and they cannot say that politically. >> so you've got that element, but it's what's feeding it is a genuinely believe that. they believe that who in the world would a thousand dollars
10:36 am
matter. this highlights the nature of the disconnect not just with pelosi but with debbie wasserman schultz who we now know it was a $14 million to these pakistani practitioners who try to flee the country. she is using taxpayer dollars to facilitate something like that and this is giving just a little bit back. >> you, along way. >> i'm more aware of the nature, especially as the government has grown more corrupt, how every dollar does matter and especially every thousand dollars. >> stay there for a second. i will bring the thin. we expect to hear details of the president's plan on infrastructure next week so come on in michael bellman, associated builders and contractors ceo. once this plan is in place, i understand you want to be able to do federal projects without using union labor. for that you have to get rid
10:37 am
of. [inaudible] is that what you want. >> no, that's not what we want. we are looking for a policy that does two things. first, it welcomes all americans to have the opportunity to rebuild america's infrastructur infrastructure, and two, it creates the best value for the taxpayer. what we are looking for is an inclusive policy that welcomes all of the 7.8 million workers to the table to be able to build america's infrastructure. >> i think you probably know this but i'm sure the davis-bacon act says you do a federal project like building a highway, you have to use union labor which means you have to get rid of it if you want to do what you say you do. >> actually, that's not true. there's an executive order by president obama that encourages the use of mandated, it mandates the use of project labor agreements which are essentially
10:38 am
collective-bargaining agreements for project spread we are asking the president to rescind that and that way it will welcome the 86% of the workforce that is nonunion and in the rebuilt. >> you think you can get that done? they would obviously love to get rid of that obama executive order. you think he will get it. >> i hope we do. i think there's been 24 states that have enacted fair and open competition which basically does not mandate union or nonunion labor. he could resend the executive order and put in an executive order that welcomes everybody to the table. we know that when everybody's there, fair and open competition can save up to 18% on construction. on it trillion dollars, that is a lot of money. >> thanks very much. good stuff. i'm in a breakaway to take a look at the dow industrial.
10:39 am
the high of the day, you're awfully close. we are up 90 and climbing as we speak. now we are up 90 at 26482. back to the story of rocio donnell and share, there's nasty stuff. here's what sarah huckabee sanders and her dad had to say last hour. >> of all the people to give fashion advice on how to professionally dress like a businessperson, are you serious share? you're going to be the one? the person who dresses like a cigarette girl at a casino on stage and you're going to tell my daughter how to dress? i find that beyond laughable. >> why are they so nasty? >> you might be surprised, this is jealousy. this is a young woman who has
10:40 am
confidence in herself and is handling herself and this was posted to the war against women. they are waging it. sarah sanders is a wonderful, fabulous woman who has power and i want to correct something, it's 4 million of taxpayer dollars. it's next to 10 million. it's really about women and power and the jealousy of other women who believe they should have the power when it comes to influencing the nation. >> interesting analysis. thank you. now this, the president
10:41 am
request of van gogh to hang in the white house residence and instead the guggenheim museum suggests they put a golden toilet, a used toilet in his personal living quarters. i call that an insult from the elite. what does pete think about it? we will find out because he's next. in our next our, can you believe california wants to penalize waiters that give customers plastic straws? that's not the only example of former liberal lunacy in the golden state. we'll be right back. ♪ ♪ ♪ ♪ ♪ ♪
10:42 am
10:43 am
it's disappointing, but let's dig in to the numbers a little bit. i think there is some interesting stuff. going into next year we been thinking that the end of 2017 is like the pregame warm-up next year is the regular season.
10:44 am
our tax cuts are enacted. they kick in january 1. we will see that girl looked up above 3% but we are carrying three in building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images.'re done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy.
10:45 am
the high of the day, 92 points higher. 26485. the price of oil, $65.76.
10:46 am
barrel. i have what i think is the outrage story of the day. the president asked the guggenheim museum in new york for a van gogh painting to hang in the white house residence. instead the curator offered a golden toilet, fully functioning, used, golden toilet. i'm sorry. i think that is a flat out insult. i wonder pete agrees with me. it's a disgrace. >> first of all, it's insult to america. the golden toilet was originally called america. it represents the 1% used by the 99%. when the president asks for a painting, it's an insult or country that's the toilets in this museum, but in the president, which is normal for them to ask to borrow a piece of art, they said no you can
10:47 am
have the toilet. this is the same curator that tweeted this must be the first day of our revolution to take back our country from hatred, racism and tolerance. don't mourn, organize. this is another anti- trump using a moment in the spotlight to get back at him. >> i think it's a disgrace. >> of course it is. can you conceive of a more perfect picture of how their thumbing their nose but they're actually exposing themselves. >> they haven't commented further because they know it's embarrassing. >> she should resign. nancy spector, the curator at the guggenheim should just resign. let's get serious. your military guy and i want to ask you a military question. president trump talked about investing in the military at his speech. listen to this. >> we are making historic investments in the american
10:48 am
military because we cannot have prosperity without security. to make the world safer from terrorism and rogue regime, we are asking our friends and allies to invest in their own defenses and to meet their financial obligation. >> he's sticking it to the europeans because they are not spending money on defense. >> the same prod he used when he went to nato headquarters. to think we live in a world without borders were we don't need armies and you can pay for your welfare state, somehow capitalism perpetuates. he stood up and said security matters, missiles matter, armies matter and if we don't adapt there are other references he made, he talked about state sponsored companies, china, north korea,
10:49 am
russia. they want to wish things on other people that don't affect them because they can live in their ivory tower. >> we been supporting them for three generations without any thanks. i'm glad he spoke up. >> join us this weekend. >> you're staying with us? >> i think so. >> and they are bringing the access fell back in a couple years time, going right after the nfl. we will tell you how he will do that in a couple minutes.
10:50 am
10:51 am
10:52 am
10:53 am
the right. let's talk football. roll tape. >> it will kick off in 2020. it will have nothing to do with politics. absolutely nothing and nothing
10:54 am
to do with social issues. i think the time-honored tradition to stand, appreciate the national anthem with any sport. in any country they do that. i think it would be appropriate to do that. you want someone who does not have any criminality whatsoever associated with them. even if you have a dui, you will not play in this league. >> let's bring in fox news radio jerrod max who knows a thing or two about football. i recall, the last time we had this it was a violent game. they went for injuries and clashes. so why is it extreme now? >> i think we have about two years to figure it out because it doesn't start until january 2020. last time smashed i'll football, we've learned a lot about injuries since then. i want to throw something out that extreme. we talk about extreme football league, if i were vince mcmahon, i would consider this.
10:55 am
create a flag football league. you want to be extreme and different from the nfl, why would i tune into your league. i wanna watch the best football. you're not going to get the best players. juergen have to do something different. >> so the actual format how the game will be played hasn't been decided. >> as far as we know it's regular football. >> you're going to stand for the anthem, you can have a criminal record. >> how does he figure that out? in some states it's illegal to ascertain whether someone has been arrested and if you have been arrested is the conviction? you go to nfl arrests.calm and you'll find that an nfl player gets arrested on average once every seven days. >> you don't sound very enthusiastic about it. >> i'm curious but i went to one game last time and that's it. >> there's nothing extreme about flag football. nobody will watch that.
10:56 am
i have to disagree. ultimately, the fan experience has been eroded. have to deal with the social issues and the preaching and deal with replay after replay after replay. the game takes forever, can't wear shoes, he can't say this, he can't do that, you put fun in the league and put the fan first you will have a market opportunity. he says the game should be under two hours. that's an hour shorter than an nfl game. a touchdown is a touchdown or not a touchdown. >> skipped the commercial breaks too. and maybe no halftime. wrap it up, you don't like it, you don't like the nfl, okay got it. president trump made a lot of news and had a huge impact on the world stage. my take on that, top of the hour. ♪ ♪ ♪ ♪ ♪ ♪
10:57 am
10:58 am
10:59 am
11:00 am
stuart: it was a very smart move president trump went to davos. he knew they assembled corporate and political elites knew they opposed just about everything our president stands for, but he went, and he told them very clearly, times have changed. our policies are not like yours any more, and we are winning. he's right about that. on the economic front the news is very good. if you've watched this program, you know the story. america is growing, wages are rising, unemployment at historic lows, bonuses are going out right now to millions and tens of millions get a bigger paycheck starting next month. the president was absolutely right to take that message and take it to the world, and what did the media do? at the very moment the message was delivered they ran banner headlines from an anonymous
11:01 am
source claiming that the president wanted to fire robert mueller last summer. classic distraction. classic diversion. accurate or not, they just had to release it as the president made the most important economic policy speech of his presidency so far. i'll say it again. the left has no clue how to return america to prosperity. they don't have a growth plan. nancy pelosi, bernie sanders, st eny hoyer, charles schumer, hillary clinton they're so yesterday and the future hopefuls, corey booker, carmella harris, elizabeth warren, john kerry again, bernie sanders again, they're filled with rage at trump's success. rage is not a growth plan. name calling is not a strategy. resistance is already failing, so good for you, mr. president. you confronted the elites over there. now come back and sort them out over here. the third hour of varney & company is about to begin.
11:02 am
president trump: after years of stagnation the united states is once again experiencing strong economic growth. the stock market is smashing one record after another and has added more than $7 trillion in new wealth. since my election, we've created 2.4 million jobs and that number is going up very very substantially. america is open for business and we are competitive once again. we lowered our corporate tax rate from 35% all the way down to 21%. as a result, millions of workers have received tax cut bonuses from their employers. now is the perfect time to bring
11:03 am
your business, your jobs, and your investments to the united states. i believe in america. i will always put america first. stuart: basically, he was saying bring me your money. bring it to america. the president there in davos today. mark is with us former speech writer for george w. bush. mark welcome back good to see you again sir. >> good to be with you. stuart: i thought it was a home, and frankly, i thought it was much better received than i thought it was going to be. what's your judgment? >> absolutely and it's also well -timed because if he had given a speech like this a few months ago we wouldn't have had all the progress we're having now. the reality is he has a very good message to sell. the economy is booming, he's passed the first comprehensive tax reform in three decades something only ronald reagan was able to achieve and we've got lower taxes, lower corporate tax
11:04 am
rate, middle class tax cuts, people are going to be getting more money in their pockets both from the left in their pockets by the irs and also more from their employers in bonuses and higher wages, we've got massive regulatory reform taking place when you think about what donald trump inherited. barack obama set a land speed record he's the first president to exceed 80,000 pages in the federal register in a single year in his final year if you count his last 19 days in office over 100,000 page in the federal register. land speed record for major regulations which are regulations over $100 million in costs, but yet almost 400 of those. donald trump has actually reduced the regulatory cost for the first time in decades of regulations that's like a massive tax cut he was able to implement on his first days in office so the economy is booming right now and he's got a great message to sell and good for him for going to davos and delivering it to the economic leaders of the world. stuart: so the success is
11:05 am
obvious, especially with these bonuses and the tax cuts. why do the democrats keep bash it consistently? >> because they don't want donald trump to success succeed. if it's succeeding under donald trump it wasn't succeeding this way under barack obama then it means their policies don't work and his do and they just hate donald trump. anything he does, i mean look at what happened on immigration. he just offered amnesty to 1.8 million people this is a president who campaigned against amnesty, against getting tough on illegal immigration and he offered amnesty for 1.8 million people and they're attacking him because they don't want to deal with him. they don't want him to succeed on immigration. they don't want him to succeed on the economy, they don't want him to succeed anywhere. it's trump hatred. stuart: hatred is a lousy political strategy. thanks very much for joining us. >> thanks stuart. stuart: check out we're still up solid gains 66 points high of 67
11:06 am
, 26, 460. the dow, the s & p both of them hitting record highs earlier this morning; however we have to tell you that in the fourth quarter of last year that's object through december, the economy only grew at an annualized rate of just 2.6%. i call that disappointing. joining us now is tom muchow, ceo of kbw, a stifel company. tom? i'm disappointed by it. what's your judgment? >> good morning stuart by the way. that growth is a little bit slower than we'd expected however it hasn't changed our outlook and we're optimistic about growth ramping in 2018. stuart: if you're optimistic about growth this current calendar year what are we going to get to back of 3% okay but will we at any point get close to four? >> that's a lot to happen fast. personally i think the stock market can keep working as long as we have very good progression in seeing president in this administration's growth strategy start to play out in the economy
11:07 am
stuart: now i know because i read your stuff that you're a big fan of the stock of big banks. >> correct. stuart: before we get into each individual one, why do you like the big banks so much? >> in about six weeks we're going to be nine years from a low in the stock market which is in march of 2009. the biggest banks took the longest time to recover. they went through a period where they're paying heavy fines, cleaning up a lot of it from the crisis. also we had an extraordinary amount of new regulation following dodd-frank. the cleanup is behind them. the economies getting better, interest rates are finally going up and we believe that we're at the turning point when maybe regulation will go from being too heavy to maybe something that's a little bit more neutral and that ought to help the earnings power of these companies. stuart: i know that your number one pick amongs the banks is bank of america okay? >> correct. stuart: tell me why you like that above the rest. tell me where the stock price is
11:08 am
going. >> okay, our target price is $36 from our analyst on that stock. stuart: where is it now? >> it's around a little over 30. stuart: 32 today and you think 36? >> yeah but our analyst every quarter review target prices so i think that analyst, he's very optimistic as it being his top pick but let me tell you why. it's an operating leverage story revenues are growing faster than expenses and they're also we believe is going to be a significant return of capital because the banking industry has more capital than its had in 70 years . it is built for an extraordinary crisis to happen again. if it goes back to a more neutral position, companies like bank of america are going to be able to buyback a lot of stock and we believe that the return on tangible common equity will go from 10.9% in the recent quarter to 17% in 2019 which is probably one of the fast core operating ramps i've seen in my career from a big company. stuart: let me interpret.
11:09 am
they've got a ton of money and they're about to liberate it go back into the stock and to the employees? up goes the stock. >> well also too they have a lot of cap capital to keep growing to serve their clients so the thing about bank of america is it's so big it's hard for them to grow faster than the overall economy but we think there are things they can do to help themselves to help earnings per share grow faster than the average company. stuart: we hear you tom and that's bank of america 32 now you think it's going to 36 we shall see. you're on video tape. >> [laughter] stuart: thanks for joining us here. >> thank you. stuart: all right, it's the largest privately held technology company in the world, dell. now it's reportedly considering going public again. it's also looking at buying the rest vmware a cloud service provider and dell is hoping to boost its cash flow as it deals with falling demand for pc's. got it. now this, reuters reports that cbs and viacon met recently to
11:10 am
discuss a possible merger. viacon owns paramount pictures, comedy central, mtv and other cable networks these two have been talking for quite a while. the latest twist in the fbi deep state scandal. newly-discovered texts between former mueller team members lisa page and peter strzok reveal they were worried about being too tough on hillary. more on that this hour. and we also have this for you. president trump and benjamin netanyahu meet and pledge their support to each other. i want to know, why does america 's jewish vote go so heavily democrat. we'll talk to one of the few rabbis who attended president trump's inauguration an a democrat lawmaker in california wants to punish waiters for offering straws, plastic straws to customers unless they specifically ask for one. what? that's another example of i'm going to call it liberal lunas it that will pass to if the republicans lose the governor's race wait until you hear the
11:11 am
other crazed proposals. we'll deal with them, i promise, next. [ phone rings ] hi, tom. how's the college visit? does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing what's important to you is why 7 million investors work with edward jones. (snap) achoo! (snap) achoo! achoo! (snap) (snap) achoo! achoo! feel a cold coming on? zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45%. shorten your cold with a snap, with zicam.
11:12 am
11:13 am
11:14 am
stuart: this is unbelievable. there is a bill in california that would punish waiters for offering straws to customers if they don't specifically ask for one. waiters can go to jail up to six months thousand dollar final about saving the environment. ridiculous but that's not the only ridiculous proposal from democrats in california. i've got more for you. anyone who gets a drivers license will automatically be registered to vote and that includes illegal immigrants who can't vote. they want to double the corporate tax to counter the gop tax plan. they want to ban all gas powered
11:15 am
cars by 2040 and they want to spend a billion dollars for healthcare for undocumented illegal immigrants. travis allen is with us a republican candidate for the governor of california. am i right in saying that if the republicans lose, and i think they will, i'm sorry, sir but i think they will, all of the above become law. that's what's going to happen? >> you know, actually that's exactly what we're looking at and i'll tell you right now we're going to win in 2018 because of all of these crazy laws and crazy ideas, so right now, we have jerry brown as our governor as you all well know. unfortunately, and jerry brown is actually viewed as a moderate in california if you can believe that. the people that are coming up past and this is antonio viragos a are far to the left so yes you're looking at waiters getting six months of jail time for offering you a straw at a restaurant. half of your tax cut savings from the trump tax plan, the government will now confiscate
11:16 am
and the list goes on and on. stuart: but what worries me is the idea you automatically register new drivers license people to vote and that includes illegals. >> unreal. stuart: i mean that is undermining our democratic process, undermining our constitution. you can't let that happen. >> and absolutely not. i absolutely agree so with the california dmv department of motor vehicles tell everyone is no this is not a problem we have systems in place but this is absolute nonsense. you see they gave undocumented or people illegally the right to get a drivers license in california years ago. i didn't vote for that law by the way, but then they said well this won't be a problem because we keep them separate in all this but now with the new motor voter law anybody that gets a drivers license will be automatically registered to vote , so do we really believe the government when it says that they're going to keep these databases separate? i'd like to but i'm telling you that's why i'm calling to for an audit of california's dmv, so we
11:17 am
can see the systems they have in place to keep california voters safe. stuart: please do so. nancy pelosi, she's not backing down from her comments that the tax cut bonuses are crumbs. she said it again. listen to this. >> he's cheating on them and it's called the middle class. they get the crumbs. stuart: what do you say about this travis? go ahead. >> you know, i think nancy pelosi and her husband whose gotten tons of government contracts are certainly getting the banquet but the bottom line is when you take a look at california workers getting thousand dollar bonuses when the average tax cut savings is well over a thousand dollars to every single american family that includes a lot of california families, these are not crumbs. this is real money, hitting the real middle class and the hardest working californians really. when you create $8 trillion of wealth in one year alone i think it's kind of difficult for
11:18 am
democrats nationwide to swallow that, that actually what our president, president trump has done has been phenomenal not just for the country but for california too. stuart: travis come back again keep us up to speed on what's going on in california. we're very interested. >> i would love to stuart. i've got to tell you we are going to take this governor seat in 2018 so hold on to your seat. stuart: wow i will. travis thanks very much indeed. gotcha. the trump immigration plan would offer a path to citizenship for about 1.8 million dreamers and the plan includes also spending 25 billion on border security, including building a wall. the white house will release more details on this next week. and look at this, please. almost unbelievable, chaos, riots in france after a supermarket chain offered a 70% discount on newtella. that is a nutella riot. people were fighting and pushing and shoving and a woman had her hair pulled and another a black
11:19 am
eye. >> totally understand. who wouldn't. stuart: now this one the dooms day clock set now at two minutes to midnight. last time it was so close to midnight it was back in 1953 during the cold war, the closer you get to midnight according to these scientists, some of them the closer we are to total human annihilation from nuclear warfare. okay? we're going to play that music. play that music. >> rem. stuart: the end of the world. don't worry. more varney after this. ♪
11:20 am
11:21 am
my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people...
11:22 am
...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images.'re done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy. retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
11:23 am
stuart: headlines here we go. a japanese company has invented a banana with an edible skin. the skin has the texture of a le ttuce, it claims the peel is an ex letter source of vitamin b and the bananas are expensive, $5.75 apiece, and only one store in japan sells them. >> what trees grow those? >> hurry. stuart: looks like marvel has another big hit on its hands. the newcomb ic book movie black panther out on february 16 expected to take in 120 million
11:24 am
first weekend. that would be the biggest opening for a movie since star wars the last jedi. check this out. the video posted online shows how technology in a tesla helps drivers avoid getting wet. the owner of model x used the company's summon feature to move the car out of a puddle and the car can back out of a garage or a parking space without assistance from a human driver. >> go get my mcdonald's coffee. stuart: why do you use a british accent when you do that? >> was that british? very badly rendered. stuart: okay enough of that another company making a big investment with a tax plan anheuser-busch spends 2 billion on upgrades at u.s. plants. the ceo says he's bullish on the u.s. market despite slumping sales of beer, especially budweiser. stocks up. and in a moment you'll see rabbi marvin heyer, one of six rabbis who attended president trump's inauguration and in a moment i'll ask him if he thinks
11:25 am
president trump can get more jewish voters to vote republican millennials often getting a bad rap for being laws it, laying at home but we have a study that says millennials may end up being the wealthiest generation yet. we'll explain it stay right there.
11:26 am
11:27 am
11:28 am
sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances.
11:29 am
♪ president trump: after years of stagnation, the united states is once again experiencing strong economic growth. the stock market is smashing one record after another and has added more than $7 trillion in new wealth. it has never been a better time to hire, to build, to invest and to grow in the united states. america is open for business and we are competitive once again. stuart: in other words bring us your money. that was president trump touting the economy in davos today. look at the big board this is the high of the day almost 26, 482 and a gain of 90 points. christian mcgoon is with us, the
11:30 am
ceo of amplify etfs. christian, now the president, he had a great economic story to tell and he told it, but as he was speaking, the government here reported that the economy only grew at an annual rate of 2.6% in the latter part of last year. that's disappointing: >> yeah, sure stuart it's a little disappointing but it's sure a great number if you look back to the obama administration so i think it's all relative here. president trump has delivered on what he said he was going to do be that cheerleader for the u.s. economy, the economy and the stock market has really had very good expectations and results. stuart: i've got a long list of goodies but i've got to go back to that 2.6% annual growth rate. do you think we're going to really improve on that in the first part of this year and going through the rest of the year? do you think we could hit maybe 4% growth in any quarter this year? >> i do, stuart.
11:31 am
i think this tax package is going to be very beneficial, we're already hearing companies on earnings calls this quarter talk about really bumping up their forecast for year-end. we're also seeing workers get some great bonuses, 250 some companies now and consumer spending is 80% of u.s. gdp that's probably going to boost overall gdp so yeah, i do believe that we're going to see an up-tick and let's not forget all of the sticky regulation is starting to roll in right direction for companies as well, so we're very bullish going into the rest of the year and think that target could be hit. stuart: christian we've got another very solid rally on our hands right now. the dow is up what 95 nearly a hundred points. can you point to anything that you think would stop this rally in its tracks? >> you know, two things i'm concerned about stuart. one is geo-political tensions flaring up with somebody like north korea andy i think that could cause pullback here and the other thing i'm concerned about is the federal reserve. they're probably going to raise
11:32 am
rates this year. we don't want them to do it too quick too fast. that could potentially stall some of this economic progress so those are the two things i'm keeping my eye ongoing into this next quarter. stuart: okay christian i know you've read this study from but is. they say that millennials may end up being the wealthiest generation yet. again i know you've read the study. why are they saying that millennials will be richer than say baby boomers? >> well it's a little bit of the law of numbers here. millennials aren't that big in terms of population relative to baby boomers. baby boomers are going to be passing on their wealth to millennials so they're going to get a disproportion at per person share of that wealth. in addition millennials are very entrepreneurial and in this current economy as you know entrepreneurial spirit is being rewarded especially in a trump administration. stuart: so you are determined to think positively, despite a 2.6% annualized growth rate. i'm just having a go at you. christian thanks for joining us
11:33 am
sir we'll see you again real soon. now, president trump and israel 's prime minister benjamin netanyahu well you could say they reaffirmed their support for each other yesterday at a meeting in davos. frankly looked to me like a love fest. joining us now is rabbi marvin h eyer. it really was a love fest. it was all smiles and handshakes and they were just getting along real fine so my question is this swhy is it that in america, american people, american jewish people tend to vote almost overwhelmingly democrat? do you think that president trump and his meeting with israel's leader can pull some back to the republican side? >> well, first i would say there's a long history, decades that all polls show that american jews tend to vote democratic but i don't think that plays a fact in president
11:34 am
trump's recognition of jerusalem as the capitol of israel. i think the overwhelming sentiment in the jewish community is that that was a great thing, long overdue and he corrected a great injustice. stuart: does the american jewish community care that much about israel? >> well, i think that, you know, in 1970, i bet i'll never forget what he told a group of young students that i brought. he said first, thank your parents for helping create the state of israel. second, you should recognize there will come a time when jews will be totally dependent on the state of israel which means if anything happens to the state of israel, there will be no jews. stuart: do you think that's in the minds of american jewish
11:35 am
people? >> i think that for those i think that it's in the minds of many and for those who think differently, i would urge them to look at the world today. look at the proliferation of antisemitism all over the world, in france, in germany, in england. one-third of british jews say they want to leave england so the state of israel is center field for what will happen to the world jewish community in the future. stuart: rabbi, tomorrow is holocaust remembrance day. do you have something to say to us, please? >> yes, i would say that when international holocaust memorial day was created, people thought it's because we want to remember the past, but if we see today what's happening in antisemitism around the world, we should remember the holocaust because tragically, it's a sneak preview of what could happen tomorrow if
11:36 am
we're not vigilant. stuart: okay, rabbi frequent guest on the program come back again and come back soon please, rabbi. we appreciate your presence, thank you sir. >> thank you. stuart: different subject. totally different subject switch ing gears. grocery store chain kroger reportedly in talks with alibaba about a partnership and likely wants kroger to accept its online payment system known as a li-pay. kroger has 2800 locations all across this country. three big tech companies approaching or fairly close to a trillion dollar in market value. on your screen right now, this is where their stock price has to get to before they're worth a trillion bucks. apple has to go to 194, amazon at 2075, alphabet at 1439. that's where they've got to get to to become a trillion dollar
11:37 am
company. now here is where they are now. some way away i've got to say apple is around the 170 mark, can we get that on the screen please? i want to know what i'm talking about. thank you. apple is at 171, amazon is at 1398 and alphabet is 1178. they're a ways off. apple is closest, we've got about 15% to go and they will be worth a trillion. liz: and you're microsoft you invested in it for 131. stuart: well, i would love 131. there are seven dow stocks, the number keeps rising throughout the day when you've got a rally now seven dow stocks hitting all-time highs wal-mart 107, visa 125, travelers 149, next screen is coca cola, nike, united technologies and 3 m, all of them record highs today. okay united tech has pulled back a bit but that seven dow stocks all-time highs again. some of the big name tech stocks
11:38 am
, they're at all times highs as well how about alibaba, netflix, amazon, alphabet all of them all-time highs again google pulled back a bit but not much. you have to include general electric not reaching a new high , just dropped below 60. liz: we haven't seen this low in six years . what's happening? jpmorgan analyst is saying watch out the bond guys are questioning the liquidity of ge. we've been talking about this ge swamps its book value so they're talking about the breakup value with everything that's happened new management problems at ge. i've got to tell you something i think ge started to go south when it made that bet on power and basically the world is going to renewables and to robots and factories are getting more energy efficient. i mean, maybe you could time it to that but this has been a slide for ge's devastating six- year low. stuart: $15 a share. never thought i'd see the day. i've got breaking news coming into us right now.
11:39 am
governor andrew cuomox just announced new york, new jersey and connecticut have seemed up to sue the federal government to challenge the tax bill. this is all about the elimination of the salt deduction. i don't know on what grounds they're challenging the tax bill but that's their policy that's their strategy and this. newly-discovered texts between former team members lisa page and peter strzok revealing they were very worried about being too rough on hillary clinton. more on that next. ♪ ooooooh snap!! every truck guy has their own way of conveying powerful. yeeaaahhh boy. kind of looks like a monster coming to eat ya. holy smokes. that is awesome. strong. you got the basic, and you got the beefy. i just think it looks mean. incredible. no way.
11:40 am
start your year off strong a new chevy truck. get a total value of over $9,600 on this silverado all star when you finance with gm financial. find new roads at your local chevy dealer.
11:41 am
nicole: i'm nicole petallides. google hit another high and they have new news expanding on something that benefits you stock right now at 1177. the new google chrome update allows you to mute sites. these are the annoying audio ads they follow you around and now, it's expanding and they're able to you can mute these ads now for 90 days used to be just 30 days so they're expanding upon that most ads run about 30 days and it will only impact the ads through google partnering with google in fact and they plan to also expand the tools to youtube, gomail in the coming months.
11:42 am
big picture here we did see that google hit a new high the stock is up about 40% almost over the last 52 weeks but now you can say goodbye to some of those annoying ads. whoooo.
11:43 am
when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... over 200 booking sites find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. stuart: oh, fox news confirms that jamil hill will no longer host espn's flagship sports center show andrea signed to a new role. hill you may remember called president trump a white
11:44 am
supremacist on twitter last year and later boycotted the dallas cowboys after owner jerry jones told players they would be bench ed if they did not stand for the national anthem. she's off that show. cbs is bringing back murphy brown, candice bergen returns to the role that ran her five emmys that ran from 88 to 98 and this follows the return of will & grace and roseanne on the other networks. stiff competition with the streamers, ain't nothing new on the networks these days and now this. the justice department found those missing texts from lisa page and peter strzok and one of them reveals they were worried that hillary clinton would think the fbi was too tough on her. joining us now is bob massi fox news legal analyst and the host of the property man. all right, bob. our viewers and myself are finding it very very difficult to follow the ins and outs of who said what to who when on what subject. can you bring us up to speed and tell our viewers in simple
11:45 am
materials what these new texts reveal? >> well surely in the world that i live in of law, it reveals a classic cross-examination of impeachment. what does that mean? it means that if you're on the witness stand and these text messages are part of the evidence, and you're investigate investigating a person, such as hillary clinton i could cross- exam and say now let me ask you something mr. varney. these are your text messages this is what it says this is what your intent was that you cut into those words to show that there was a pre-disposition of bias, that there was something they really could not do a thorough job. why? because they were worrying about the consequence, if she would become president and that in and of itself tarnishes that person and that investigation. stuart: does it mean, does it show that they went further from thinking that way to acting on their thoughts and their beliefs >> i think, stuart, this is a
11:46 am
case where people get to the point where they don't feel that they have to be accountable to anyone. they ran away with it. they ran away with their authority. i always tell my kids you're always smarter the next day. when they look back they have to be saying to themselves what was i doing here? and because of the fact that so much of the country felt this hillary clinton would be president which then brings the issue. if she would have been, we may have never known about this but what saddens me and what concerns me is the integrity of i don't want the fbi to be paint ed like this and this is unfair to the fbi good men and women when you have these type of people abusing their investigative powers. it's not right for them. stuart: okay take your legal hat off and put your property man hat on because these numbers i know you've seen them they show that the median home price in southern california, new high over $500,000 a house.
11:47 am
>> [laughter] stuart: now either that is a bubble, it may be or there's just not enough housing on the market so the price has to go up what's the going on here? >> well first of all, they should give houses away if you have to drive on 405 or 10 in los angeles that's first off, okay? but saying that, this is a perfect example. by the way, stuart, what they don't talk about, the median price how about the property taxes that have to be paid? that's another story for those type of hopes. you've got a supply and demand problem here. you definitely have because of the fact the demand there, the supply isn't there like we've talked before in vegas it goes up. the problem is let me give you an example. i know in the northeast i grew up in pennsylvania in pittsburgh but surely in new york people take the train to long island and to connecticut in the surrounding areas, new jersey. i know people that drive, stuart from victorville, california which is about 145 miles to los
11:48 am
angeles every day to go to work because they cannot afford. they spend two and a half to three hours each way to go to work every day because they cannot afford it. so i don't know where they're going with this except the fact that young people i saw your millennial thing about money. well, money can't wait for baby boomers for us to die so they get money that's for sure. stuart: [laughter] well we will be watching the property man on the fox business network and we thank you as always for joining us today on varney & company. thank you sir. >> thank you stuart always thank you sir. stuart: next case. tom brady could be the one to break the so-called madden curse there is a superstition that whoever appears on the cover for the madden video game is cursed either by injuries or a drop in production or a bad record but as you know, brady and the patriots are in the super bowl and some are saying if the patriots win, brady breaks the curse. next, a tom brady super bowl ring, along with some other
11:49 am
championship rings. ken golden will auction them off , not on this program but later but you'll see those rings ♪ building a website in under an hour is easy with gocentral... ...from godaddy! in fact, 68% of people who have built their... using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.
11:50 am
11:51 am
11:52 am
11:53 am
stuart: do we have some cool sports memorabilia for you? they are going to be going up for auction, the man doing the auction is ken golden with golden auctions. he often brings good stuff for us and he's got a lot today. ken, welcome back to the program >> glad to be with you stuart. stuart: i'm going to pick this up. i shouldn't but i'm going to do it, this is tom brady's nfl super bowl ring correct? >> correct this is an official super bowl ring tom brady. it is not the ring the team presented him with it's called a family ring because, you know, they're able to get an additional ring so this is a super bowl brady ring. the ring has 260 diamonds, has an appraised jewelry value, just the jewelry for 30,000. we expect if it was the one given to him by the patriots we'd expect it to go for about 2.5 million and this particular
11:54 am
ring we expect to go well over a hundred thousand possibly approaching $200,000. it is the only known award ring associated with brady that's ever hit the market and i expect it will be the only one ever to hit the market. stuart: there's a selling point. you've got a monopoly. >> absolutely. stuart: now i see two more rings i'll pick up the first one here whose this from? >> this is from a staff member of the denver broncos when they won the super bowl a few years back. stuart: a staff member not a player? >> not a player correct. stuart: the staff get a super bowl ring as well? >> staff get the super bowl ring as well and we expect that one to go around $40,000. stuart: hold on. >> this is another gigantic ring this is from 2012 it's ray lewis ' last season with the ravens when they won their super bowl and we expect those are very popular because they're so gawdy. we expect that to go probably in the range of 55,000 dollars to $60,000. stuart: we used to call these a knuckle duster. it's just a joke so 50 grand for
11:55 am
that. >> yes and all the super bowl items are available right now at golden stuart: okay. no, i'm done with the rings. i want to move on to the tennis racket there. >> this is the bobby riggs battle of the sexes. of course they made the movie of course battle of the sexes last year bobby riggs lost to billy jean king and billy jean king's racket came up for auction last year and sold for 125,000 so we were contacted with bobby riggs, and bobby passed away long ago but he gave it to one of his employees which typically doesn't happen a lot he actually wrote a detailed letter of authenticity about the racket and the individual had it framed with the letter. we expect this to go for $50,000 plus and is very historic. i mean one of the most-watched sporting events of all-time certainly the most watched tennis event of all-time. stuart: it's broken. >> yes a lot of people think he smashed the racket and that's why it broke. what happened is he chipped the
11:56 am
racket during the match and switched rackets and over time, the strings are wound so tight and it's aluminum it folded in ward, and that's what happened so i don't want anyone to think he got mad, lost and smashed it. stuart: mickey mantel rookie card how much? >> $150,000. this is one of the holy grails of sports, it is perfectly centered, it is really perfectly centered. stuart: beautiful. i've got to get this in because you're wearing what looks like an olympic gold medal. >> yes this is a 1984 team usa basketball olympic gold medal that's important because that was michael jordan's year and it was the last year a u.s. amateur team won a gold medal. this is the medal that belonged to starting power forward raymond tisdale, we expect it to go between 100 and $200,000. stuart: okay hold on i've got to get this right. this is golden auctions. what's the website?
11:57 am
>> it's and the auction is running live now it opened up this week. the final day of bidding is saturday night, february 17 at check us out we've got over 1000 items of course everyone is talking about the brady ring but there's tremendous other items up for bids at all price ranges. stuart: well you did it again you intrigued me that's not hard to do. thank you ken. >> thank you stuart. stuart: there will be more varney wherever you are. there you go. more varney after this. ♪ e. so to breathe better, i go with anoro. ♪go your own way copd tries to say, "go this way." i say, "i'll go my own way" with anoro. ♪go your own way once-daily anoro contains : t.
11:58 am
anoro is not for asthma . it contains a type of medicine that increases risk of death in people with asthma. the risk is unknown in copd. anoro won't replace rescue inhalers for sudden symptoms and should not be used more than once a day. tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. these may worsen with anoro. call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. ask your doctor about anoro. ♪go your own way get your first prescription free at show of hands. let's get started. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors.
11:59 am
1, 2, 3, go. e*trade. the original place to invest online. . stuart: i express my disgust at the guggenheim museum and specifically the curator who failed to give and failed to offer president trump a painting for a private residence in the white house, and instead offered that, a golden toilet. i thought that was a flat-out
12:00 pm
insult and disgrace. it's been picked up in the media. stuart varney, this is what they're saying about me -- don't you love it? i made the media, neil! [laughter]. neil: glad they got my e-mail! [laughter]. stuart: that's good, that's really good. neil: you have every right. that was tacky! come on. what a disgrace. we live in a real world, whether you are right or left, people think it's fair game to be tacky. it's never fair game. stuart: well said. neil: thank you, my friend. a market rally despite disappointment on the gdp figure coming out a little less than the 3% that some hoped to see again which would have been something we hadn't seen a better part of a decade to see three back-to-back-to-back quarters. this might not be revised up. way too early to tell. another report


info Stream Only

Uploaded by TV Archive on