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tv   Varney Company  FOX Business  November 7, 2019 9:00am-12:00pm EST

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movie before. maria: good point. robert? >> i thought the idea of what you guys were talking about, disney and the stuff they are going to do in the future, i mean, they are the company to see. maria: yeah. netflix keeps paying up. >> u.s./china trade news coming right now from the china side. maria: exactly. take that into account. good to see you. right to stuart varney we go. "varney & company" begins now. stuart: don't give my story away. good morning, maria and good morning, everyone. you are about to see more all-time highs for stocks. i'm going to call it a year-end rally. we are going to add to the $10.6 trillion worth of wealth creation since donald trump's election three years ago. yeah, china trade. that's the reason for today's rally. the headline is this. the u.s. and china have agreed the a tariff rollback. the important words there are rollback. good for trade, good for consumers, and throw in a lot of farm product buying by china and you've got phase one.
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where might it be signed? how about london in early december, when president trump attends a nato summit? there's a lot of speculation that xi might be there. well, that is magic to the market. stocks are going up. look at this. the dow industrials will be up well over 100 points, maybe 140 points. the s&p 500 is going to be up about 10. that's .33%. the nasdaq will chime in with a 30-point gain. that would be about .33% or more. here come more record highs. all right. now, how is this for a headline? turmoil at one of the most powerful companies in the world. google. the board has opened an investigation and hired an outside law firm to look into sexual harassment and misconduct. shareholders and some employees are not happy with the big severance packages given to executives who are being forced out. at the center of the probe, andy ruben, who ran the android division, and david drummond, google's chief legal officer. this is not a story about the
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stock. it's a story about relationships, what's allowed and what's not at american companies. "varney & company" is about to begin. i paid over $10 billion in taxes. i paid more than anyone in ta s taxes. you know, i'm glad to have, you know, if i had to pay $20 billion, it's fine. but you know, when you say i should pay $100 billion, okay, then i'm starting to do a little math about what i have left over. sorry. i'm just kidding. stuart: you know, i think he could have been a little stronger there, when somebody is going to take your money off you, confiscate it, i would have thought bill gates would come out on the strong side of the argument. it was kind of tepid if you ask me. he was doing the wealthy -- the
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wealth tax. senator warren has announced she would be willing to meet with him to discuss all of this. ashley: yes, she did. she said this. let's get straight to the tweet, if we can. she says i'm always happy to meet with people, even if we have different views. at bill gates, if we get the chance, i would love to explain exactly how much you would pay under my wealth tax and in brackets, i promise it's not $100 billion. i will just say bill gates also argued that taxing too much, whatever that amount is, could jeopardize the u.s. status as the place to build innovative businesses. just a little crumb to throw to you there. stuart: i would just like to see him pound the table. ashley: he's not going to do that. not going to do it. stuart: he's not going to do it. ashley: no. stuart: we will move on. let's talk real money. that would be fresh records for the stock market. you are going to see them right at the opening bell. after that report that the u.s. and china have agreed to roll back tariffs. market watcher john allison with us now. i see every sign of a year-end
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rally, a santa claus rally. you call it what you like, but are you with me? is this going to happen? >> i'm actually with you, stuart, and i'm with you for the very simple reason i think you have even enunciated on your program, which i like a broken record have talked about for the last couple of years, which is the trade war has been a wet blanket on the market and a wet blanket on business confidence, and finally in the last few months, has actually revealed itself to really depress manufacturing. so the fact that things are getting rolled back, the fact that there is a lifting of the wet blanket even temporarily or in phase one, however you want to put it, i think is going to release the one big worry the market has had. the other worry which is slowing growth, which we have always felt was going to happen, is probably bottoming out this quarter and that means even if next year is slow, it's going to be okay as far as the market is concerned without that wet
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blanket. so yes, i would say absent any other weird thing that happens, out of left field, which we don't see, you're right. i think we are heading upward. stuart: john, just a moment ago we were talking about elizabeth warren. she is indeed i think waging a war on wealth. is wall street worried about this? >> wall street is worried about it not just idealogically, because people have their own doctrines that they carry around in their heads, but they're worried because what she's proposing, particularly this tax on unrealized capital gains, is simply unworkable. it's one of those things that will -- that any wall street person will tell you will number one, depress the market because the economics of it will depress the market. it will depress confidence in the markets. it will depress business confidence. so if you take people's capital gains and every year force them to pay a tax on their unrealized gains which is one of the things -- latest things she's proposed, is going to be a very negative thing for the stock
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market and for savings and for investing. stuart: it's called confiscation. stay there for a second. i've got more for you later. let me move on to some corporate stories here. first mcdonald's ceo fired. now google's executives are being investigated over inappropriate relationships. explain it all, lauren. lauren: i don't know if you can compare the two. because the circumstances for steve easterbrook at mcdonald's likely different from what has been going on for years at alphabet and google. remember this time last year that major walkout by mostly women in the company saying we are sick of the sexual harassment that is going on at this company, and the coverup of it. alphabet's board of directors has formed a special litigation committee to investigate executives and executives' handling of sexual -- allegations of sexual harassment and misconduct. they have also hired an outside law firm to look into this. because share holders which include union groups and pension funds, are saying it's corporate waste, when you are paying the former head of android, andy
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rubin, a $90 million payout exit package of that size. now alphabet's legal officer currently david drummond, he's alleged of having an extramarital affair, getting one woman pregnant and then marrying another woman. for those relationships, were they in the chain of command, was there a direct reporting relationship, what are the policies, what should the policies be and 2019, can you date someone at work. stuart: fair point. it's not a question about what's going to happen to the stock. the stock is up this morning. it's a question about corporate culture. can you have an office romance in this year of 2019. we are going to discuss that throughout the show, as we have discussed it earlier. lauren, thanks very much for wrapping it all up for us. now this one. roku slammed, look at that, down 15% almost. the stock has had a terrific run-up this year. it's up about 350%. but now it's down 15%. what's the problem? susan: they had a great quarter, right. they made more money. they lost more money or less money than expected. they're still losing money.
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but the problem is that the full year guidance missed. they didn't say they were going to make as much in ebita, outside of taxes. i know your eyes roll up when i use that term. but they are going to do less well than anticipated. but guess what? you know, looking at the statistics, you roku users stream 10.3 billion hours of content from the same time last year in three months. that's up 60% from a year ago. so people are still streaming. they are obviously watching on their boxes and roku has about 40% market share. i would say there's a lot of potential still for this stock. stuart: we've got guggenheim investment firm, they dropped their price target on roku. it was 170. now it's 150. the stock this morning is way down, close to 15%. here's another company in the news. netflix. okay, look, they spent, what, $15 billion a year, i think that was 2018, $15 billion on content. now ceo reed hastings says they
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are going to spend even more. john allison, come back on this one, please. you don't like all this spending and you don't like the stock at this level, do you? >> no. i like reed hastings, i like their team, i think it's an incredibly innovative company. don't get me wrong on that. but i think they are trying to chart a path with a lot of debt to fund content and that in and of itself might not be so bad if you didn't have very well-heeled competitors like amazon, apple, disney, coming into the market without that kind of debt load and competing for content and viewers' eyeballs. i think netflix is a stock we would avoid. i think it's got danger signs. stuart: okay. year-end rally, john says yes. netflix, he says no. might be going down some. john, thanks very much for being here on a very important day. we appreciate that. >> thank you very much. stuart: i've got three big names, they are going to report after the closing bell today.
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they are disney, go pro, activision blizzard. on your screens, premarket, they are all up. that's where they are as of now. let's see what happens after the profit reports. overall, this market is going up today. at least at the opening bell. look at futures, we are up 150 for the dow, about 11, 12 points on the s&p. the nasdaq up about 35. nice gains across the board. elizabeth warren's attack on the wealthy, still going on. growing number of successful people speaking out about it. they are worried about warren. there's the slogan. worried about warren. that's the theme of the day, sports fans. mike rowe, the dirty jobs guy, big on skilled labor. millions of job openings in america. why can't we fill them? i will be asking him that question, 11:00 hour this morning. president trump unloading on the whistleblower's lawyer at last night's rally. he says impeachment has been the plan since he took office.
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texas congressman lance gooden here with reaction. this is "varney & company" on a thursday morning. we're rolling. ♪ ♪ ♪ ♪ ♪ ♪ ♪ a more secure diaper closure. there were babies involved... and they weren't saying much. that's what we do at 3m, we listen to people,
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who has started whistleblower's attorney said in 2017, know when that was? that was a long time ago. it's all a hoax. they say january 2017, a coup has started and the impeachment will follow ultimately. it's all a hoax. it's a scam. stuart: all right. you heard it right there. that was the president last night and here's his tweet from just a few moments ago. i will read it for you. based on the information released last night about the fake whistleblower's attorney, the impeachment hoax should be ended immediately. there is no case except against the other side. joining us now, congressman lance gooden. i believe he's a republican from texas. i believe that's accurate.
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good morning, congressman. >> how are you? stuart: really good, thanks. sum it up. the impeachment process so far, what do you think? >> it's been totally non-transparent. it's been done from the basement of the capitol and democrats heard republicans saying for weeks this is illegitimate, you need to put this up for a vote so democrats thought they would get cute and put it up for a vote and silence us. now they are saying we have moved the goalposts but the goalposts have been the same since day one. that is give us the same rights that we gave, we the republicans, gave you during the clinton impeachment that the minority had during the nixon impeachment. stuart: they are allowed to make their own rules in the house and that's what they're doing. >> and the american people i believe are seeing through it and the american people want transparency and a few public hearings next week are just not going to cut it. stuart: how long does this go on for? because you're right, public hearings next week, i don't know whether they're televised or not, i presume they will be. after that, are we going to be hearing impeachment, impeachment, impeachment until next year? >> i think nancy pelosi, who really didn't want this from day
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one before she caved to the far left, is sitting in rooms with her leadership team probably every night saying how are we going to end this because i don't think they have an answer. stuart: you think so? >> i do. stuart: they set this thing going. you think she wants to end it? >> no, i think she wants to know how it's going to end because they know that once they impeach him and send it to the senate, then it's over. what are they going to do, stop investigating him and actually respect the wishes of the senate if they say the president is innocent? stuart: okay. if it drags on, throughout the rest of this year, because there's only seven or eight weeks left, and into next year, what gets done in congress? anything? >> before last week i would have said nothing. but in the last few days, we have heard talk from the democrats that they are feeling confident in the u.s. canada mexico trade agreement may actually move forward so i think they are hearing from some of their vulnerable members in these swing states that went for trump last election or in the last presidential election, they are saying we've got to pass this, we know we have the votes. speaker pelosi, please let this bill come forward. so i'm hearing talk in the last
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few days that it may actually happen before christmas. the senate seems a little less optimistic, but rumors from the hill are saying that that may be the one accomplishment. stuart: the one thing that could get done. congressman lance gooden, republican, texas, thank you, sir. thanks very much. now then, let's go to california, where the attorney general says he's going to take a closer look at facebook's privacy practices. tell me more. susan: the important part of this, part of this is this legal filing in california is they want access to some e-mails from mark zuckerberg and sheryl sandberg which is pretty important because this was excluded as part of the ftc $5 billion settlement and indications are maybe, maybe mark zuckerberg according to "wall street journal" reporting might have known about the problematic privacy practices at his own company that he was overseeing. now, california importantly, by the way, is not part of the 40 bipartisan state attorneys that want to look into possibly antitrust and these strong positions that facebook and
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google now position themselves in terms of advertising revenue, et cetera, et cetera. stuart: seems like almost every day there is a development on privacy, whether it's google or facebook. neither stock ever tanks because of it. susan: unless it has real teeth and there's implementation and a real threat of a breakup which only happens at the federal department of justice level, there is going to be no impact on the stock. stuart: that will be way down the road if it were to happen. good stuff. thank you. check out futures again. we have moved up a little bit more. this is going to be a good day for stockholders. up about 150 the dow, 12 on the s&p, 35 on the nasdaq. that's called a rally. how about mcdonald's. our next guest says the firing of the ceo for an inappropriate relationship earlier this week will drag the stock down. so when will it recover? we will ask. "varney & company" continues.
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stuart: let's see where mcdonald's stock is. it's at $195 a share. it's come down a lot, especially after the firing of ceo steve easterbrook over what's described as an inappropriate relationship, although it was a consensual relationship. mcdonald's analyst nicole regan is with us right now.
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it's at $195 now. down from i think $220. when does this thing recover? >> in the short term, the stock price movement is going to be more tied to same store sales and probably u.s. same store sales, so that's what's going to move the stock. we're not going to see what the new management team is going to do and their strategy until 12 to 18 months from now. stuart: so it stays down until such time as we see how the new guy's going to perform, is that it? >> there's nothing that's going to happen from here to year end. there's not really any new news that we are at least expecting. the companies have already reported, we already kind of have an idea where same store sales are. until we get into next year with new vision, new plan, new team and the release of fourth quarter same store sales that's helping their tracking for the year, we think we will be really range-bound here. stuart: in which case i'm not going to touch it with a ten-foot pole. thank you very much for joining us this morning. we appreciate that. thanks very much. short, sharp, to the point. just the way we like it.
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futures show a nice gain at the opening bell. good news on china trade. the u.s. and china have agreed to roll back some tariffs. we are up 160 for the dow, 12 for the s&p, 38 for the nasdaq. yes, it's a rally. we will take you to wall street in just a moment. does your broker offer more than just free trades? fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. there are zero reasons to invest anywhere else. beyond the routine checkups.
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stuart: i'm going to call it a rough week and now they promised to verify, verify every rental, airbnb. ashley: sounds good, right? seven million listings, they will verify them all, they say, by december 15th of next year. so about 13 months from now. what about all the other ones that come on? stuart: is it for party houses? ashley: it is for party houses. of course, there was tragedy at the house in the bay area where what was supposed to be a family reunion when the house was booked was actually a big raving party where five people ended up being shot and killed. so they have vowed to quote, crack down on party houses. what is the definition of a party house? the problem is, as people point out, what is it? a couple could book a home and you think oh, this is great rgs everything is great, but they are actually it's not a couple, just a bunch of young people wanting to have a big old party like we saw in the bay area. it's going to be incredibly hard. airbnb says we will try and
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install and risk rating, how long are guests staying, size of the listing, so many other factors but a lot depends on trust. if someone wants to do something -- susan: they're not going to tell you they are going to hold a party at your listing. ashley: that's the whole point. it depends on trust. how can you trust someone who says oh, yes, we are going to have just a couple over for a week and then what it is, it's just a big rave party. susan: airbnb has seven million global listings, more than the top five hotel brands combined in terms of the number of rooms available around the world. good luck with that verifying each and every one of these rentals. ashley: one other quick fact. they are going to have this rapid response team so if a neighbor calls up, a 24/7 hotline and there will be a human answering, saying this party is out of control, they have a team that will take care of it, they say, go out and assess the situation. that team is being led by the former police chief of philadelphia and washington, d.c. stuart: they've got to have that in all different areas. ashley: how could you cover
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around the united states and the world? stuart: that's the other question. they have bitten off a lot. let's see if they can chew it. all right. here we go, sports fans. it's thursday morning. i can tell you now, this market will open up. here we go. three, two, one, we're on. the dow has opened with a gain of, right from the get-go we're up 113, 119. okay. bottom line here is at this moment, we are roughly up about a half percentage point. that's certainly true of the dow. the dow and the s&p both at all-time highs as we speak. you've got a 12-point gain for the s&p. i'm pretty sure the nasdaq has -- ashley: nasdaq up 45. stuart: 45 points. there you go. half a percent. there you have it. this is a rally across the board. new highs for the s&p and the dow, not yet for the nasdaq. here's a stock we want to check, roku. yeah, they are spending big. investors apparently don't like it. the stock is down 15%.
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of course, it's had a huge run-up this year. more on that later. roku, way down this morning. party city, it lost money, sixth straight quarter of revenue falling short, as they say. down 47%. ouch. ashley: not a party. stuart: selloff and a half. strong earnings at the fox -- the parent of this network, that stock is up nicely 2.5%. okay. scott martin's with us along with susan and ashley. stocks in record territory right from the start. this is, what, a holiday rally, santa claus rally, year-end rally. are you into this, scott? >> halloween rally. yeah, let's throw out all the holidays because it's here. a couple things are going on. we have had the fed, don't forget, my friends, reintegrate some let's say liquidity, bond buying into the system which is helpful. they have three rate cuts on the books now after that big mistake in december last year when we thought they were going to actually even hike more this year so they totally turned tail there. and the fact that these impeachment concerns i believe
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are kind of fading away, at least the democrats maybe are losing some bite there. so with respect to all those things that are going on, the market wants to go up and the fact that we have earnings coming in that were better than expected, that's the fuel for the fire today. susan: the commerce ministry in china rarely, rarely is optimistic on u.s./china trade talks and the fact that they say hey, we might be repealing some of those tariffs from september, the december 15th ones might not be imposed, i think you have to take a lot of positive from that. they will be signing that phase one trade deal. depends where and when. it will happen before the end of this year. i think that's one hurdle that has been cleared for markets wanting to go up. stuart: i call that a positive, right there. the speculation that xi and president trump will get together in london for the nato summit. that's pure speculation. but it's out there. susan: it's iowa, it's london, it was chile. ashley: switzerland. sweden. stuart: my bet's on london. but that's just speculation. susan: you could fly over there.
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stuart: let's move on. let's move on. look at uber. drivers filing a class action lawsuit saying they were underpaid for years. this is new york city drivers, i think. susan: class action, 96,000 new york city drivers who claim they were underpaid over the course of those three years because what was taken out of their paycheck was the so-called black car driver fund or this black car fund surcharge, which by the way was around 8.8% or something like that. stuart: they're suing. susan: they're suing but also, uber has already compensated them for that. they paid out tens of millions of dollars when they ended that black car fund. but some drivers say they weren't fairly compensated. so they are suing once again. however, i would say this would be a tough one to win. stuart: new york city. you know? ashley: yes. stuart: how far can you run it into the ground? ashley: we're finding out. stuart: i'm not going to answer that question. dow industrials up 160 points as we speak. now, look at the stock price of roku. the stock is down big.
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they are spending an awful lot of money, apparently investors don't like that. look at it, it's down, what, $24 as of right now. scott, obvious question. at $116 a share, roku, would you buy it? >> no. i think it's going to go back to $100. $100 is pretty attractive. actually, the stock has been pretty predictable. it's about 100 on the downside, 150 on the up. that's why we are seeing the pullback on earnings. it's so weird, guidance too wasn't good. all that streaming stuff that's downi coming down the pike, all the things out there already, amazon prime, all that stuff, then roku which is kind of the software behind that stuff, everybody's kind of left figuring out what to do and for me, at my house, i'm left with like a really smart tv with all this great stuff on it and a dumb remote. susan: actually, no, because apple tv will be hosted on roku along with the apple tv app as well. so this is a hardware thing. but don't forget, they had 68% more streaming hours on roku in the quarter than they did last
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year. it's a growth stock. you just have to find the right entrance point. stuart: by the way, we did have an analyst on yesterday who said that thing is going north of $250 a share. that was yesterday. today it's down 17%. we will get the analyst back. why not. let's see how -- susan: see what she says. stuart: the big board says a gain of 152 points for the dow industrials. we have a new record high for the dow and new record high for the s&p. check back to mcdonald's. it's been a rough week but they are only marginally higher, 90 cents higher. how about better profit, better sales at ralph lauren. full disclosure, my daughter works for them and they are doing very well, thank you very much. up 11%. nice gain. shale driller chesapeake energy, that stock is now below $1. rough year for the energy sector. okay. it's up two cents. 93 cents a share. chesapeake energy. pg & e, the california utility, took a $2.5 billion hit
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from those california wildfires. maybe a lot more to come. the stock is down 5% at $6.55. we've got the nasdaq on the air for you because that's a new record high. so in the first five minutes of business today, record highs of the dow, record for the s&p, record for the nasdaq composite. we roll on from there. what's next? all right. first mcdonald's ceo fired. now google executives being investigated over what are called inappropriate relationships. look, i call this the death of the office romance. nothing to do with the stock which is actually up this morning. but make a cultural comment, scott. what do you say? >> oh, really? okay. you know, it's sad, i guess, because people, look, from the statistics, it's becoming less and less so, but people used to meet in the offices. that's where you would meet a significant other, maybe get married to somebody. that's kind of sad. in the case of google, though, tell you what's funny is the guy involved was like the chief legal counsel of the company.
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so if there's somebody there that should know this was taboo, it was him. ashley: that's a very good point. mcdonald's ceo mr. easterbrook and these executives, they know the rules. this is 2019. this is not very smart behavior. it doesn't mean that -- it depends what the company rules are. if the rules say you can't do it, then you are breaking the rules. there are some companies that allow it if the employees are not ceo level but they go to h.r. and say we are having a relationship and be open about it, it may be permitted. maybe one of them has to move on, whatever. is it the death of the office romance? not necessarily. bottom line, play by the rules, otherwise you suffer the consequences. susan: depends on the reporting lines of the company. i so loathe to combine google and mcdonald's. they are not the same case. you know, in the andy rubin, creator of android case, he was accused of actual sexual assault. i mean, these other ones are consensual relationships. you know, i really don't think we should be putting them together in the same boat here.
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stuart: welcome to this brave, brave new world of ours. isn't it fun to live in it, work in it? >> can't do anything. ashley: it's not the 1960s. stuart: is sarcasm allowed? am i allowed to be sarcastic? ashley: it's your show. susan: probably not all topics. stuart: disney reporting after the bell today and its streaming service disney plus debuts on tuesday. the stock is up this morning. ashley: so in other words, disney plus will not be part of this earnings report. it will be the last earnings report before disney plus. the big pieces of disney business everyone will look at is media networks, then the parks and resorts. both of those sectors have been waning in recent quarters, no doubt about it. we know cable subscriptions are taking a big toll on the networks and domestic parks taking a hit as well. but there will be a lot of talk about disney plus and maybe that can make up for some of the losses in the other areas. by the way, one analyst says he
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believes disney plus will have ten million subscribers by the end of next year and within the next four years, that number will go to 90 million. stuart: that's a big number. ashley: a huge number. stuart: i would like to know within the next year, how many households will have three streaming services that they are paying for? susan: i think that's the average. stuart: that's the average. how many we going to have after one year from now? susan: you have 100 million subscribers in the u.s. on netflix. i would say probably 60%, 70% -- 60 or 70 million. stuart: i think you could say disney is up there. >> probably netflix and the last one is a weird one. it's like the hulu, amazon, somewhere where the third one comes in. stuart: how about apple and amazon? they are all major players here. it's a revolution in entertainment. what you do watching your screen is going to change. susan: also, i think the one that suffers is probably the traditional cable companies.
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the unbundling, cutting of the cord. stuart: welcome to the fox business network. >> i need a better remote. stuart: i will buy you one, scott. don't worry about it. >> thank you. stuart: scott, thank you very much indeed. check the big board. i think this is the high of the day for the dow. we are up 173 points, about .66% now. 27,670. take a look at twitter. two former employees charged by the justice department with spying for saudi arabia. we will break that one down for you in our next hour. senator kamala harris has introduced a bill to extend the school day across the country by, is that right, three hours? susan: wow. stuart: is that right? three hours? can you believe that? basically that's the government raising your kids, if you ask me. i think it's absolutely outrageous but we are on it. susan: poor kids. stuart: black friday, three weeks away but holiday shopping
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deals are already advertised. what's the rush? i will ask former toys "r" us chief gerald storch, is this the year of the consumer? answer, yes it is. this is the age of expression. everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office, we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual.
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about being a scientist at 3m. i wanted them to know that innovation is not just about that one 'a-ha' moment. science is a process.
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it takes time, dedication. it's a journey. we're constantly asking ourselves, 'how can we do things better and better?' what we make has to work. we strive to protect you. at 3m, we're in pursuit of solutions that make people's lives better. stuart: what have i got here? look at that. almost a 200 point gain for the dow industrials. almost .75%. we're at 27,700 almost. okay. the watch maker fossil down big, 23%. okay. expedia are down. they've had a drop in bookings. they are down 21%. i tell you, there's some serious big moves here, up and down. qualcomm, that stock is up 7%,
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primarily due to its technology licensing segment. now, have you noticed a rash of black friday deals being advertised lately? black friday just over three weeks away, the day after thanksgiving? former toys "r" us guy, look, this guy has run every retail operation in the world. his name is gerald storch. why all this very early advertising for black friday? i heard christmas music in a store yesterday. >> some retailers are panicking because thanksgiving moves around, it's based upon the fourth thursday in november so every once in awhile like what's happening this year, you end up with a compressed schedule between black friday and christmas because thanksgiving moves. but act like it never happened before and it does happen. when it does, guess what? the customer knows christmas is december 25th. it actually doesn't make any difference at all. it's not like you're not going to get johnny his favorite toy or your aunt mary will get a lump of coal just because thanksgiving moved. it's absolutely ridiculous. but people worry about it, it happened in 2013, just six years
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ago, exactly the same thing and holiday sales were fine. holiday sales this year are going to be spectacular. stuart: repeat that. >> they are going to be spectacular. that's what it's going to be. everyone forecasts at least 4% year over year growth. i think it could even be more the way it's lining up. unemployment is low, wages are high, people feel good, you look at consumer sentiment, it's holding really, really, really strong. consumer spending has been up for a very long time. now, there's no reason whatsoever for a slowdown. some people were worried about tariffs, always felt that was an overstated concern. looks like they may not even happen. but certainly, you look at retail results, it's like where did that go, i thought it would be a tragedy. maybe for some companies. i actually don't see it. there's no inflation. if tariffs are so big, where's the inflation? you don't see it. i take a look at the whole thing, it's lining up to be a spectacular christmas. it would take a shock to the system to change that. meanwhile, retailers are aware of the short season so they are
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moving things forward, everything. it's really an old wives tale. it was pre-internet that people really thought about that. now you are worried about running out of time, go online and buy it, it gets delivered the next day. stuart: we have been reporting this week, i think we reported yesterday, that amazon is going to be able to deliver ten million items, separate items, next day delivery. that's a real -- i think that's a game changer. >> they keep moving it forward, moving the ball forward, raising the goal posts for the other guys so they can't keep up. now, you see it in their p & l, you saw a big increase in amazon's expense rate, deployment costs through the roof. i don't know if you noticed, there is a lot more fulfillment themselves. they are spending a fortune like they always have, to stay ahead of the other guys and they are going to do it and they are going to be great. meanwhile, everyone else sort of relies on federal express and ups to get the job done and by and large, they do. this season the internet will grow like crazy. i think we will have a trillion dollars in internet sales this
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season, by the way, in november and december. overall. stuart: this is interesting. everyone thinks it's online. that's where all the growth is. 86% will be in brishcks and mortar, about 14% online. online will be growing high double digits while bricks and mortar, may not grow at all. ashley: wow. stuart: trillion here, trillion there, pretty soon you are talking real money. gerald storch, you nailed it again. thanks for joining us. >> my pleasure. appreciate it. stuart: news alert indeed. bernie sanders just released his new immigration plan. i am told it is bold. what is it? ashley: as you would probably expect. he would decriminalize and demilitarize the border, ensure migrants get due process, fully fund independent immigration courts, break up i.c.e. and the cpb, customs and border patrol. he will place a moratorium on deportation and bring a complete end to i.c.e. raids. restore daca. remove hardship waivers to prevent barriers to legal status
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and citizenship for as many undocumented immigrants as possible. stuart: wonder if he likes you and i. ashley: just open the doors wide open and that's it. come on in. stuart: well, let's see how that works out. only time will tell. all right. check the dow. not quite up 200 points but we'll take up 187. left-hand side of your screen, 28 of the 30 dow stocks are in the green, they're up, and there are three dow stocks which hit all-time highs just this morning. in the last 28 minutes. not a bad day so far. then there's this. americans, that's us, we received a record, received, i don't like that, we've got 5.7 billion robocalls just last month despite congress taking action to put an end to them. nebraska congressman backed the bill that was trying to end them. he's with us today. what went wrong? we'll be right back. only one thing's
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stuart: three dow stocks have hit all-time high, apple, united tech, morgjpmorgan.
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5.3 million robocalls just in the month of october. what is going on? the gentleman on the left is jack fortenberry, republican from nebraska. didn't you support the bill that was supposed to stop robocalls just a few months ago and it passed and now we've got all these robocalls? what went wrong? >> first of all, thanks for having me on on the television this morning. i appreciate it. look, the reality is this has gone through the house of representatives and if you want your ratings to go up, and if you want the sunshine to come out in the country and find a way to unite america, keep talking about this issue, because i'm telling you, i will raise it in town hall meetings. it's 100-0 issue. it has gone through the house of representatives, the additional enhanced mechanisms by which we empower the federal communications commission to put a stop to this practice. stuart: wait, wait, wait. has it not gone through the senate? is it not an act which we can use to stop this?
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has it not gone through yet? >> right. so why don't you have a senator on and ask him the same question? it needs to go through the united states senate. we have done the work in the house of representatives. the bill has passed. it was one of these bills that passed 430-3. everybody is recognizing just how awful this is. frankly, i got a call myself and i have a pretty protected phone, from the social security administration asking for my private numbers and privileged information. you imagine a person who is not aware that the social security administration does not make this type of phone call, it frightens them and they give out their private information. this is pernicious and wrong and it's happening more and more and it frightens people. i'm telling you, it's fake. if anyone is getting a call from the irs or social security administration, that does not happen. they will send you a letter if they need to talk to you. stuart: congressman, i really didn't mean to try to blame you for this situation. but i will ask you this. >> it sounds like it. stuart: i'm very sorry about that. welcome to the show.
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great to have you with us. but listen, if it does go through the senate, you supported this bill. >> yes. stuart: if it goes through the senate, are you convinced that it will indeed stop robocalls? >> look, you know the state of the world. you are on the leading edge of business technology. you are following the stock. it is very hard for government and regulators to keep up with the advancing technology in which bad people are trying to fool and trick american citizens into giving them their private information. however, this takes a step to empower the federal communications commission to go after them more robustly. it calls upon telephone companies to give call blocking technology an authentication technology to understand who is actually calling you, and that should go a long way toward helping. it needs to go through the united states senate. if president trump is watching your show, i would urge him to sign the bill when it finally gets through. stuart: i will see what i can do. congressman, thank you very much for joining us. we do appreciate it. >> pleasure talking to you. stuart: yes, sir.
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two former twitter employees charged with spying for saudi arabia. they are trying to get information on people who were critical of the kingdom. napolitano, the judge, is here to weigh in on that one. the pentagon just ordered nearly 500 new f-35 jets from lockheed martin. we have the chief test pilot. are these the best jets in the world? bar none? i'm going to ask him. elizabeth warren's medicare for all plan trashed by all sides, republicans and democrats. i will tell you why she's dug a hole with this one that she's going to have a hard time getting out of. that's my take, coming at you in just a moment.
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see why a medicare supplement plan from a company like humana, just might be the answer. it was in this small little village- in connemara. right! connemara it is! there's one gift the whole family can share this holiday season, their story. give the gift of discovery, with an ancestrydna kit. stuart: all right. that's the high of the day. close, up 210 points for the dow jones industrial average. that is 3/4 of 1%. we're at 27,700 as we speak. this is a rally. by the way it spread across the
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boar here. that is a new record high for the dow industrials. earlier we had a new record high for the s&p 500. we also had a record high for the nasdaq composite. so, all sectors, all groups, all exchanges, all indicators, record highs. right, bang, 10:00 eastern time. you know what that means on a thursday morning? mortgage rates. ashley: on edge of my seat as always every thursday morning. here we go. freddie mac, 30 year fixed 3.69%. that stuart, is down from 3.78% last week. we've been showing a steady creeping up on rates. now we're coming down. a smile on your face. stuart: i like a steady creep. love them. just got a steady creep. stocks in record territory. market watcher dennis gartman. thursday morning with dennis in. i say we are in a year-end rally. santa claus rally. call it what you like. are you with me, dennis. >> it's a bull market. it has been a bull market.
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write this down. it will continue to be a bull market until it stops being a bull market. when i wrote my newsletter at 2:00 in the morning i expected markets trade higher because we had gone sideways for four days actually in quietest activity we've seen in a while. tops are not made out of quiet that looked like consolidation. i short ad amount of derivatives to hedge a portion what i'm long. i was hoping i could cover that at unchanged. we're breaking out to the upside. it is still a bull market. anytime you sell it short you find yourself scurrying to buy it back. anytime you're a buyer you be happy, go lucky. it will continue to move from the lower left to upper right. interest rates move down. mortgage rate 3.69. my mortgage 25 years ago was 9 1/2%. what amazing move. stuart: mine in the late 1970s, was 12 1/2%. ashley, early 1980s was 16%.
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ashley: that was a steal. stuart: absolute steal. >> i remember trading fed funds at 20.25. it is amazing world which we live. stuart: it is. tell me, you said we'll keep on going up. the graph will go from lower left to the top right. can you put some numbers on this? are you prepared to tell me that the dow will hit 29,000 in january? can you say anything like that? >> if you do, you will only make a fool of yourself and i've been able to make a fool of myself on rather consistent basis over course of past 35, 40 years. putting a number on it, really down make any sense. the best one can do, the best in the market, get direction right. it's a bull market. it will continue to be a bull market. we'll walk in one day, you will open up 2 or 300 points higher. it will finish day 3 or 400 points lower. outside reversal day. that marks the top. until then it is still a bull market. it surprises me as i said this
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morning we're nose bleed territory. we'll get nose bleedier. stuart: that will live forever, dennis. i'm the grammarian. that was bad grammar. >> thanks for having me on. stuart: president trump talked about impeachment at a big rally in louisiana last night. watch this. >> just handed me a story, whistle blow's attorney said in 2017, you know when that was? that was long time ago. it was all a hoax. 2017 a coup has started and impeachment will follow ultimately. it is all a hope. it is a scam. stuart: come on in please, jordan sekulow, one of president trump's legal team. the whistle-blower said the coup started. separate quote impeachment will follow immediately. that sounds to me like a set-up.
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i'm sure it sounds like that to you. >> absolutely. this is the whistle-blower's attorney back the same month president trump took the oath of office. what is it about, stuart? it all goes to policy disputes. they don't like the policy of the president. they didn't like the order what they call the travel ban. guess what? the supreme court said that was okay. 5-4 constitutional. sally yates was fired because she said she would not enforce a duly enacted executive order by the president. that is when this all started. this whistle-blower's attorney has been a partisan looking at ways, here is what happened. mueller failed schiff. mueller failed this whistle-blower's attorney. that is where they thought they would goat the president. the president did nothing wrong. there was no conspiracy with russia. no collusion with russia. the house judiciary committee failed when they tried to bring corey lewandoski for it on obstruction issue. you don't hear from nadler much.
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it all goes back to schiff starts this off with four pinocchio "washington post" lies about his team's contact with the whistle-blower, and i'm sure the whistle-blower's attorney is a partisan. process from the beginning. we're called the conspiracy theorists stuart, when we talk about deep state actors. cia people are working with partisan attorneys to take down a duly-elected president of the night less than a year before the election. stuart: let me pose this. if there was evidence, clear evidence of a quid pro quo, that is you get aid, ukraine, if you investigate my political opponent. if that were the case, if that were clearly revealed, is that an impeachable offense? >> there is certainly, we don't see any laws on the books. so if you were a normal person, not the president, who is subject impeachment but normal person you would not see any laws on the books that would say
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this is not a way to conduct foreign policy. could be something again people within the bureaucracy. they don't like this kind of policy so they come forward said i don't like this. there is correct ways to do that. and there is ways to blow it out of proportion like a whistleblower. a lot of people on the phone call, yet one individual it must be raised to adam schiff and raised to the level of impeachment by nancy pelosi and by adam schiff and her team. the truth, the house makes the rules, they get to kind of decide what is impeachable to a certain extent. that is a political question, not a legal one. we're not afraid, i heard democrats, macy hirono, we're afraid to talk about the substance of this like we're doing right now. legally no, there is no issue here. it is all policy based. the reason why we're focusing on process as attorneys you don't get to the merits of anything until you look at the process.
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was the process right? from the beginning, this has been done in secret. even these public hearings next week, stuart, these are not public hearings. i will tell you why. these people already testified. and there is still no cross-examination available for the president's counsel, for the agency's counsel's can't be there. so the state department will not have counsel present. witnesses have to be approved by adam schiff, if they're republican requests. that is a big question if he would approve any witnesses. this is not open and transparent. by the time it does get to that point, we're at the house judiciary committee. they may not have any hearings. by the way under their rules, stuart, they don't have to let us participate at all if they decide the white house isn't cooperating the way they want. this is absurd. we have evidence it goes back to 2017, a coup attempt. it's a witch-hunt. it is the deep state. stuart: i'm short of time i have got to go. jordan, thanks for pointing all of this out to us.
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this is very important stuff. we appreciate you being with us this morning. jordan, thank you very much. >> thank you, stuart. stuart: quick check of the big board. we come off the highs. not by much. we were up 211. now we're up 188. this is a rally. and now this. rarely has a policy proposal met with such ridicule. senator warren's plan was trashed by the start from republicans and democrats. the criticism has been a absolutely whiterring. as soon as details were announced, steve have been rattner, democrat, said in "the new york times," the mountain of new taxes make as quote, a warren presidency a terrifying prospect. that was "new york times." critics have not calmed down. they are piling on. this is a crescendo of
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criticism, medically, politically, economically, the "medicare for all" plan is being laughed out of court. look at this, warren care will make you wait and wait, so says the manhattan institute. warren's plans gives hospitals fixed amount of money per year, if the hospital budget doesn't stretch through the year you have to wait for treatment just like government care in canada, the wait for a new nee stretches painfully to 39 weeks. also for doctors, "medicare for all" caps reimbursement too. here comes the doctor shortage. politically warren's plan is disaster. dan henninger in the "wall street journal" calls it the democratic left chernobyl. it's a lasting catastrophe because warren dragged most of the other presidential contenders to the unelectable left. economically senator warren already admitted means her plan means 2 million lost jobs.
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what about the other job losses when her multitrillion dollar tax hikes produce a nasty recession? lastly, there is her gross deception. she says the middle class will pay nothing. if you believe that, then i guess you believed president obama when he said you could keep your doctor, keep your plan, and your premium would go down. no going back. she cannot use "medicare for all" just to win the primaries, then pivot to a less damaging plan for the general. so, she and democrats are stuck. this thing won't fly. the ridicule will keep on coming i want to bring in dr. marc siegel. what is his opinion here? i'm saying, let's stick to the medical side of this thing. long delays in hospitals for treatment because of socialized medicine. doctors leaving the field. am i right? >> you are 100% right. with the doctor's office, with private insurance i get to make most of the decisions in
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coordination with my patient. sometimes there are insurance hurdles to jump. with the government in the doctor's office, forget about it. they will dictate what care i order for my patient. the delays are real. up in canada it is months to get an mri. it is months to get a cardiac stent. 39 weeks to get a hip replacement. guess who decides if you get a hip replacement? the government. doctors are paid 40% less. many will leave the profession. in the hospital, stuart, hospitals told me on the record or hospital record, they rely on private insurance to pay for research, pay for medical students, pay for all the quality care you're used to. they get a flat fee from the government for things, the government will not differentiate between great medical centers and great care, something of lower quality. they will pay the same fee. hospitals will go belly-up. stuart: if it came to pass,
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"medicare for all," the warren plan, you as a doctor you would be working for the government and your pay will be decided by the government, is that accurate? >> absolutely right. i would be paid less for doing more with more regulation. stuart: how do you know you would be paid less? >> several studies have shown that. clearly true in all countries with socialized medicine. it is true in western europe. it is true in canada. i interviewed a australian physician from canada, she is making 30 to $40 for a visit. at the most. they make about one-half of what primary care doctors make here. we are, i don't want to plead poverty here, primary care doctors are underpaid in the united states. we would make half what we make now. even more than being paid less, what we would be asked to do. a poor patient isn't necessarily going to get the mri they need. i have to wait a month to figure out if someone has a problem up here? i'm having a stress test. how about a cardiac stent?
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bernie sanders got his stent right away. maybe, bernie would still get his stent right away and we wish him well. stuart: you just laid it out for us and this is a disaster. >> disaster. she will sink her like a stone. can't be viable candidate. stuart: you never know. >> how about the jobs lost like you said. stuart: dr. siegel, you're all right, appreciate it. the pentagon scored a deal with lockheed martin. they signed the deal. they will buy 478 f-35 fighter jets. we'll talk to lockheed's chief test pilot. i will put it to him. what makes these jets the best in the world? i'm told that is what they are. could we wage a war on drug cartels in mexico? one senator says he thinks we should put troops down there,
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stuart: the pentagon reached a deal with lockheed martin for 478 of the world's most advanced fighter jet, that would be the f-35. look who is here? lockheed martin's chief test pilot al norman. al, it is great to have you on the show. i want to let you tell our viewers why the f-35 is the best fighter jet in the world. make your case. >> good morning, stuart. thank you very much for the opportunity to do this. i will tell you what, the f-35 is what we call a fifth generation fighter. by that i mean, we take attributes of stealth, advanced avionics that give a pilot complete situational awareness of the airspace and battle space around us, combine that with the
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ability to share that information across all the f-35s flying that gives pilots flying the f-35 a quantum leap in capability than what we had before entering the battle space. not only allows the men and women in our services to effectively fly the missions but makes sure the men and women will come home each and every time. stuart: can i ask you a question? is that the last fighter jet will have a pilot? are we going now to pilotless drone style planes in the future? >> well, stuart, i don't know. i don't have a crystal ball to tell you that. i know that we in industry, we at lockheed martin, are most concerned about our men and will in the military. we're trying to provide solutions to the united states government for solving those problems and i think that the solution set involves everything the government might want not
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only to stay at par with our threats, but always be ahead of them. so we're always looking to do that. i will tell you, the f-35 gives us the ability to grow. of all the airplanes i have ever flown, this is the most adaptable and flexible airplane to continually bring in new technology. this airplane will be relevant now, about the not only decades to come. stuart: decades to come. i like that. al norman. appreciate you being with us. always appreciate it. thank you, sir. separate storm. two former employees are charged with spying for saudi arabia. judge napolitano breaks that one down. the judge is next. ♪.
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stuart: two twitter employees charged with spying for saudi arabia. what were they up to, jack did i dee dee? reporter: they're being accused of having access to twitter's database. they were accused of going in there to give private information on dissidents for the kingdom of saudi arabia, funneling that back to the government. so this is a case that sort of talks about saudis, why they're worried about social media. why they're worried about uprisings in their kingdom. it speaks to the privacy issues surrounding technology that all of us are vulnerable to. stuart: so an insider could leak whatever you and i, anybody else is saying to interested third parties. reporter: absolutely. stuart: that is a form of espionage. i don't know whether it is spying for not. but it's a form of getting
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really under your skin, isn't it? >> this is very crucial to mbs in for example, saudi arabia. as the one of the supreme leaders there. you think about the arab spring. how twitter was used to take down two dictators at that time. this is serious stuff. stuart: it really is. jackie, thank you very much. you say this is not espionage. define what it is. >> this is not espionage because it doesn't involve theft of government secrets. you could argue commercial enterprise, involves espionage -- so there is three defendants. two are saudis. one is american, they're all, according to the government's complaint, they were not indicted yet, they were charged and arrested yesterday. foreign agents directed by a member of the saudi royal family from riyadh, who is wiring funds into the bank accounts each time they report on the twitter activities of saudi dissidents
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in the u.s. and saudi dissidents in saudi arabia this is the first time we know of that present government of saudi, saudi arabia, under the crown prince has actually employed, dispatched, employed foreign agents to spy in the night without the knowledge or approval of the night government. stuart: do you know how we found out about this? i don't. do you? >> we don't know how they found out, they haven't told us that but we do know there were recorded conversations. the fbi was on to them for a while. i will guess they found out about wire transfers. stuart: because of the money. >> where the money came from. then these people not understanding their rights when the fbi came knocking they spoke to them and they did not tell them the truth. now they will be charged with lying to the fbi which is an additional five years if they're convicted, tacked on to the hacking and spying charges. the hacking can only be
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described as massive, massive hacking. because they had all the tools. as jackie points out, they worked at twitter. they knew every nook and cranny, tool, to get deeply into the computer system. stuart: that is frightening. appreciate it. >> you're welcome. stuart: another big tech company under the microscope. that is google. the parent company looking into allegations of misbehavior by several senior executives. including a consensual relationship with an employee. i will have a my take on this coming up at the top of the next hour. how is this for being extraordinarily outrageous? senator kamala harris wants children to spend more time in school. wait until you hear how long she wants to extend the day. we'll tell you that next. ♪.
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♪. stuart: i like this. i like this. [laughter]. susan: thank goodness. thank goodness. stuart: the producer is saying thank heavens i like this, because he is trying to make me happy. this is the kind of song you were singing when you were 16 years old. you got your girl. you are having a lot of fun. it takes me back 55 years. ashley: that's about right, yes. stuart: all my lovin. where does the time go? where does it go? it's gone. we're learning, look, i think that is pretty close to the high of the day. we'll take it.
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up 214 points. better than 3/4% higher. up 212. 27,700. new highs for nasdaq and s&p. fed chair powell will testify on the economy before the house budget committee on november 14th. not making any difference right now to the dow industrials. but look at ralph lauren. strang sales in china and europe my daughter works for them. the stock is up 12%. she is not yet in the 401(k). ashley: come on. stuart: she is not. terrible thing. now this, senator kamala harris introducing a bill to extend the school day from 8:00 in the morning till 6:00 at night. can you believe that? "real clear politics" guy, reporter there from, phil wegmann is with us. phil, i'm astonished by this. first of all, is this for all kids or just selected groups of kids?
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who is it for? >> right, at the moment what harris put forward is a pilot program. it wouldn't affect all children in america f it would be passed, it would select certain districts keep kids in school for 10 hours but leaves the door open to extending this across the country. what is interesting here. this is not necessarily a education plan per se. it has more to do economics, boosting product tivity, keeping parent at work longer. allowing kids to be at school so someone else takes care of them. stuart: that is absolutely incredible. the senator proposes to make the school the parent of the child. i assume the school will feed the child, breakfast, lunch, maybe a snack before they go home. they have them for nine hours a day. that is the government taking over the responsibility of the parents on the grounds that it makes parents more productive. that is upside down, isn't it? >> i think a lot of parents will
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have that reaction especially voters in areas that are not on the coasts but i think what harris is doing here, she is trying to confront reality of the modern workforce where a lot of families cannot get by with a single breadwinner putting bread on the table there is expectation both parent will be working. some families already have their children in child care already. that is the choice they made. some voters will say we want agency here. we want to decide where our kids go after school, not the government. stuart: i want a school to educate, not merely take care of a child nine hours a day. are you with me? >> what is interesting about this if you look at school days of singapore or germany, they keep kids in school five 1/2 hours less than we already do now. the question, by keeping kids in school 10 more hours, will that necessarily increase test scores? is it going to help the entire
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educational process? we don't know. but again, the larger question here, i think a lot of people are going to be asking in real america, is that, should it be a policy of the u.s. government to separate parent from children so the parents can stay in the work place longer. stuart: what kind of propaganda will they drill into them for nine hours a day, i would really like to know that? >> it is certainly something that you have to ask yourself that question, because every time that a child is at school it is time they're not with their parents and yes, this is a proposed solution to a problem that a lot of parents grapple with but again this is time that children are going to be away from the parent if this bill does get passed, becoming a nationwide program. we don't know if it will have effect on educational outcomes. there is a lot of doubt, a lot of voters, a lot of parents will scratch their head over this one. stuart: i agree with that phil wegmann. we appreciate it, sir.
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>> thank you. stuart: elon musk, his boring company, as in tunneling, will break ground in vegas to build the high-speed rail train there what is it, goes under the strip? susan: goes under the strip with the las vegas convention center the main point where they build a system underground. they're looking to build three stations. the travel time between all three stations according to musk and the boring company should be one minute. that is fast rail they are looking to build. it is a expensive project. 51 billion. it will be one mile long between all three transit stops. the las vegas strip isn't that big. hopefully in the future it gets out to the international airport as well. stuart: it's a test. susan: it is a test. boring company drawn interest from several u.s. cities including los angeles and chick.
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they have hit environmental concerns. he launched a chinese unit to the boring company as well, so, in august of this year. maybe you can build these systems, tunneling systems elsewhere. stuart: okay. i take it. susan, thanks very much indeed. now this from chipotle. adding mental health benefits for employees. ashley: to help them keep up with the fast-food grind. they will extend these benefit to some 80,000 workers next year. they say it is important to invest in the well being of our employees and their families. the benefits extend to families of employees. just before this chipotle introduced debt-free college opportunities for select employees. starbucks took the same move. announcing employee benefit that target mental health. these kind of benefits, starbucks offering ride share options, professional development, these happen in very tight labor market where you try to attract people and
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keep them. these are the type of programs that work. stuart: got it. thanks, ash. ashley: sure. stuart: we'll put up on the screen. look at travel websites, expedia, book advisor, they're all way, way down in percentage terms. expedia. i'm squinting. 25%. susan: big miss yesterday from which is largest of the three. not only miss on quarterly numbers, they missed earning revenue estimates as well. they're getting downgrades from a what we saw bullish analysts, that includes piper jaffray. both lowering forecast from neutral to overweight, cutting their price targets as well., formerly known as priceline reporting after the bell. it's a tough go, they have to pay more to get advertising on the likes of google and other paid click sites. they are facing competition from elsewhere as well. stuart: my heart bleeds.
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they take a piece out of small hotels, really reduce their profitability. i know that from personal experience. the stock's down. thank you, susan. all right. senator tom cotton says we could send troops to the u.s.-mexico border, american troops after the american family was killed by the drug cartels. next, brandon judd, border patrol council guy, i will ask him, are we going to wage war on the cartels? we reported a lot about the anti-conservative bias on campuses. frequent guest, cabot phillips has more evidence for us coming up. he will break it all down. next we'll take to you the 9/11 museum right here in manhattan where a new exhibit on the capture of bin lauden just opening. we'll be back. driverless cars,
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or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. stuart: high of the day? new record. we're up 237 points at 27,729. rally across the board today. t-mobile. this is important. it will launch the nationwide 5g on december the 6th. here comes 5g. it will be big. the stock is barely moving. fox news's rick leventhal at the 9/11 museum where they have a new exhibit. take me through it, please. reporter: stuart, today is the media preview. you will see other cameras as we make our way through here. this museum exhibit opens
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tomorrow. it is compilation of dozens of artifacts and multimedia stories from the people who actually searched 10 years, tracked bin laden around the world to find out where he was, so they could capture him and kill him which obviously is what happened. there are stories from members of seal team six. you see them in the shadows. cia intelligence analysts, how they accomplished their goal, what they did, how they tracked him. one of the key points is right here, actually. this is a photo of bin laden's courier's vehicle. this is model they built in the compound to show the president. to help determine how they were going to go in and take bin laden out. they built life-size versions of
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these, one on the east coast, one on the west coast, so the seal team could train on life-sized replica. so they know what they would get into when arrived on scene. also a vest worn by seal team six and a vest worn by the bomb-sniffing dog. this exhibit opens up to the public a week from tomorrow. stuart: what a great report. rick, i'll be there. thank you, sir. now this, president trump calling for war against mexican drug cartels. yesterday senator tom cotton said we should use american troops for this. roll tape. >> if the mexican government can't protect americans inside of mexico, america may have to take matters into our own hands. this is only 50 miles away from our southern border. we can certainly defend american citizens inside of mexico if mexico is not willing or able to do so.
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stuart: fascinating, he used the expression inside mexico twice. come on in, brandon judd, member of the border patrol council. senator cotton sounded if he want to put american troops inside of mexico to defend americans. do you think that is practical? would you approve of that? >> senator cotton obviously wants to protect american lives. he is looking at this and he is saying this was a heinous attack. so he is saying what is it that we can do? if we can actually legally do that without declaring war against mexico i would absolutely be all for it. we have to look at the cartels, we have to say something must be done. we have american lives, not just in mexico that we're losing, we're losing lives here in the united states in suburban america because of all the drugs coming into the united states. the opioids these cartels are pushing, they are killing u.s. citizens here in the united states as well. so senator cotton, he is taking a very strong stance. i support him greatly if he is
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can find a way to do it. if he can find a way to do it. stuart: that would be a extraordinary development. american troops in mexico, firing guns in anger if need be, they would become targets. that would be a huge step, huge? >> it wouldn't be in anger they're firing guns. what they're doing, trying to take control of the situation. we've already got the blueprint. we done this in colombia as well. we were invited by the colombian government to come in to take care of the drug cartels. not like we went in there to start shooting the place up. what we did, we took the individuals in custody. if we can take individuals in custody, bring them to justice, that stops the cartels. you have to look at how much control these cartels have in mexico right now. there is very little that the mexican government can do because they have let it get out of control. if the mexican government were to invite us in like president trump asked, to go in there, we
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have the blueprint. it has been done before. it was very successful in colombia. there is no reason to believe it couldn't be successful in mexico as well. stuart: i will wrap it up there. seems extraordinary to me. but you know what you're talking about. we appreciate you being with us. brandon judd. >> thank you. stuart: we have a tweet from the president of course, it is about the stock market. short, sweet, to the point. stock market up big today, a new record. enjoy. yeah he is right. it is a new record high. we're up 230 points for the dow industrials. next case, senator elizabeth warren "medicare for all" plan is getting a lot of heat from all sides. dan henninger calls her plan the chernobyl of the left. there will be a media circus, we'll dig into that with our own bret baier. that is in our next hour. ♪.
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hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower 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 bubblemassage. everything is installed in as little as a day by a kohler-certified installer. 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 mind. call... for a free kohler® nightlight toilet seat with in-home quote or visit for more info. stuart: we have got a real strong market rally on our hands. roku is way down, off 12%. back to $123 a share. i want to bring in beth joining
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us on the phone. yesterday morning on the program. you said roku will go to $250 a share. i think by next year. are you standing by that? do you think it will bounce from here? >> hi, stuart, yes, absolutely. the thing about roku, that i have lived through two 50% pull backs. so a 15% pullback is nothing for a long term roku investor. two weeks ago, the stock was priced where it is today. so. stuart: wait a second. is that, this is based on roku being the streaming stock, is that it? >> yeah. this story is the connected tv ads. actually roku beat on all numbers yesterday, on all earnings estimates t beat every single number. wall street is having a knee-jerk reaction to the company. it has a lot of these reactions to roku. it's a company where if you know the story and you understand it, you understand what the company's doing, it is easier to
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have high conviction even during pullbacks and i mean, like i said, people have been long on roku lived through 50% pull backs, the stock will come back very quickly. this stock has been, was priced exactly where it is at today two weeks ago. stuart: that is very interesting. interesting to hear you will stick with 250 as target price in the not too near future. beth, thanks for joining us. thank you. >> thank you, stuart. stuart: come on in please campus reform editor-in-chief, back on the show, man on right-hand side there, i want you to, that is cabot phillips of course. i want you to be our reporter because you got another example of anti-conservative bias on a college campus. take me through it. report. >> a student was writing a paper describing different political ideologies. they started describing some conservative ideologies, putting forth examples, citing donald trump, citing a few other conservative figures as some of
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their sources, the professor gave them a failing grade on the paper. in all the annotations, this wasn't written well, there were grammatical errors, they said all of these political exclamations. donald trump is upholding white supremacy in america. for you to cite him is wrong. candace owens, famous black conservative very vocal on social media, she is upholding a new form of white supremacy. you talk about a merit-based system in your paper. merit-based systems are inherently racist. all the political claims the professor making, clearly making known their own opinion on conservatism, giving the student a bad grade what appears to be politically biased grading. stuart: it was a professor wrote things on the paper that the student had submitted. >> it was the instructor, instructor for the course that was doing the grading in this paper. again, i've been on over 100 college puss with leadership institutes, campus reform, the
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most common question i get asked without a doubt, conservative students coming to me what do i do when i know my professor is treating me differently when my professor doesn't like my political beliefs. some professors are more subtle. this professor is clear with their own political motivations. this is problem totally unique to the right. you simply do not have liberal students losing points on a paper for defending marxism or defending new world feminism. these are problems exclusive to conservative student because professors are so overwhelmingly liberal, comes out in the grading process. stuart: this is fairly common. cabot phillips. thanks for joining us this morning. i would love to see you come back on, say i got a conservative who got a grade a across the board. i'm not holding my breath. cabot phillips. see you soon. how about google? more headaches. not about profits. this time about sexual
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harrassment and misconduct. the employees are not happy about how the company handled a couple cases. i will give you my take next. we'll be joined by mike roe he had a show, dirty jobs. he talks about the people who he encounters. you have to guess who he is talking about. he doesn't reveal it until the end of the hour. that will be the third hour. we'll roll into it after this. ♪ >>i'm searching for info on options trading, and look, it feels like i'm just wasting time. wasted time is wasted opportunity. >>exactly. that's why td ameritrade designed a first-of-its-kind, personalized education center. see, you just >>oh, this is easy. yeah, and that's >>oh, just what i need. courses on options trading,
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plans change every year. use the new plan finder at . comparing plans really pays. look how much we can save. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking.
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the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. peyton, what abrad, welcome to peytonville. what's this for? song inspiration. i started in my garage, but nationwide protects so much i had to expand. nationwide helps protect everything you see in here, brad. every family, every business, every dream. see mrs. hoffman? nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. oh, they have backstories. of course they do. here, i got more to show you. keep up, now. a little hustle. stuart: one of the most powerful companies in the world is in turmoil today. it's not about profits. it's not about the company's product. it's about sexual harassment and misconduct. this is google. master of search, huge in online
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advertising, android phones, self-driving cars and so much more. it's worth nearly $900 billion and google is indeed in turmoil. here's the story. the board of directors has opened an investigation. they have hired an outside law firm. some shareholders and some employees are not happy with the way google has handled misconduct cases. chief legal officer david drummond had an affair with another google lawyer, reportedly they had a child. when h.r. was informed, they said one of them has to go. well, the female lawyer was transferred to a different department. drummond stayed on as chief of the legal department. andy rubin, who ran android, had a sexual encounter with a subordinate. he was forced out, but he got $90 million on the way out. there are many other examples of misconduct which resulted in big severance packages. that's what has shareholders and employees angry. it comes on top of the refusal
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of some google workers to work on pentagon contracts. come on. quit the moral lectures, please. mcdonald's firing of its ceo for a consensual relationship with an employee is also part of all of this. in the case of mcdonald's, the firing i thought was harsh and the severance package was very limited. but there's a bottom line here. call it a sign of the times. but the office romance is over. the pendulum has swung from one side to the other and for the immediate future, the message is clear. no business can allow an executive to have a relationship with another employee. welcome to this oh, so brave new world. the third hour of "varney & company" is about to begin. stuart: all-time high for the
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markets, that's the dow industrials to start with. we are now up 250 at 27,700. the nasdaq, new high of 65 points, 8,475. s&p, closing in on 3100. all three indicators, record highs as of this morning. let's get to my editorial. i hope you heard it. heather zumarraga is with us. you are writing a book, you describe it as a man's guide to workplace culture after the #me me too movement. i just said it very clearly. i say the office romance in american corporations is over. what do you say? >> that's very true. that's very true. unfortunately, 22% of marriages actually were first created and formed at the workplace, so when you think about it, if you spend over 12 hours a day with somebody at work, especially a ceo who has no time outside of the office, it might only be human nature and natural to meet
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someone at work but you can't do it anymore. you cannot date anybody you work with. stuart: i see that as a negative. i don't think thisat's a good thing. that's why i ended with welcome to this oh, so brave new world. you think this is good? >> no, but whether you think it's good or not, that is the world we live in today. like you said, perhaps the pendulum has swung too far in the opposite direction. now you have consensual relationships that may not be, although mcdonald's' mr. easterbrook was the case of a supervisor with a subordinate, sometimes you have employees dating other employees on the same level and perhaps that should be allowed. but now you can't. post #metoo movement even if there was something in the policy handbook prior to t the #metoo movement it wasn't as enforced as it is today. you are not going to get away with it. that's the bottom line. stuart: i understand it. i understand that corporations have to play defense here against the liability of a lawsuit which may just pop up and ruin the company.
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i understand it. but i just think it's a little harsh, frankly. i really don't like to see a company being in control of who you fall in love with. on this issue, last word to you. >> i agree. 58% of employees have admitted, this is according to studies, they have had a romance in the workplace. if you don't want it to be a double standard and women are fighting for equality, as in the case of mr. easterbrook being ceo of mcdonald's, if he was fired and it was consensual, not harassment, not rape, something should happen to the woman as well. stuart: okay. let's move on. i want to talk about twitter. two former employees charged with spying on users who were critical of saudi arabia's government. and giving their information to riyadh, the capital of saudi arabia. now, the stock is down 15 cents. this is not a stock story, is
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it? this is not affecting the company's profit and performance of the stock price, is it? >> no. it doesn't seem to be today. that's a big difference between what happened with twitter and what happened with facebook on the issue of privacy concerns, is that facebook, it was a corporate decision where they said we are going to allow user data to be sold to third party apps. these were spies. this was hacking. twitter did not allow this. that's why i don't think it will be as impactful to the stock because this wasn't a corporate decision. these were spies. stuart: california's attorney general investigating facebook about privacy concerns, apparently facebook would not comply with a subpoena of some sort but look, we get these reports constantly, privacy concerns, facebook, but the stock doesn't budge. the stock does not react. how do you explain that? >> that's a winner, right? despite all of these -- all of the new regulation and when he was testifying, when zuckerberg was testifying in front of
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congress, i mean, the stock is still doing very well, $192 today. so i think that regulation is coming for facebook but it's not going to impact users. for the most part, if you use facebook and you hear about facebook misusing your user data, i don't see too many people logging off and saying i don't want to take part in this anymore. at least not yet. stuart: yeah, okay. let's talk big picture market for a second because we've got record highs across the board today. i have been calling this a year-end rally, a santa claus rally, call it what you like. are you with me on this, we are going up from here? what do you think? >> i love a santa claus rally. who doesn't. but i think it's important for investors to remember what happened last year and that was because of the fed. i get it. fed was hiking rates in the fourth quarter. so i think that the market could pull back a little bit. we are up 20% year to date so in the fourth quarter you have some profit selling, we have cash levels on the side, 3.4 trillion on the sidelines. but that may be a bullish sign because if you have all this
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cash and investors are pulling out with markets where they are, that means that the market pulls back. it's the mentality, people have cash to buy back into the market because they don't want to miss out. stuart: it's a great time to be an investor, ain't it just. >> yes. it sure is. stuart: heather, thank you very much for joining us. i'm sure we will see you again real soon. now, we are talking all day long about records for the market but look at this. here's a stock that's taking it on the chin. this is roku, the streaming guys. i'm going to call it the stock of the day even though it is down so sharply. yes, it posted earnings yesterday. users are streaming more than last year, but roku is spending a ton of money trying to get more people to buy their boxes. that's what has investors worried. the stock is down, but just a few moments ago we had beth kindig on the show, analyst of roku. she says she's sticking with it. it's going to $250 a share or more next year. she likes the stock. got it.
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netflix. they are bleeding cash for content. that's an expression i like to use. expecting to spend, what, $15 billion on new shows this year alone. next year i think they will spend a whole lot more. the stock is up seven bucks, just shy of $300 a share. how about disney. they report their earnings after the bell today. their streaming service, disney plus, comes out on tuesday. they are back to $133. that's disney for you. got a big hour ahead. we have former dirty jobs guy mike rowe. i want to know why we can't fill the millions of blue collar jobs that are open. he will tell us why. we are also talking to the "wall street journal" guy dan henninger. he calls senator warren's medicare for all plan the chernobyl of the left. wait for him. and fox news' bret baier will join us. i say the impeachment hearings will be one big media circus. what does he say? stay with us. third hour of "varney & company" rolling along. ♪
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i paid over $10 billion in taxes, i paid more than anyone in taxes, but i, you know, i'm glad to have, you know, if i had had the pay $20 billion, it's fine. but you know, when you say i should pay $100 billion, okay, then i'm starting to do a little math about what i have left over. sorry. i'm just kidding. stuart: i guess you could add gates there to the list of billionaires who are against warren's, elizabeth warren's wealth tax, but frankly, deirdre, i thought wait a minute, that was tepid. we are going to just confiscate your wealth, take it off you and all you've got is a big smile?
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deirdre: what would have been interesting if he said don't try to take my money, i'm already giving it away through the bill and melinda gates foundation. they have given away billions of dollars. that's their business. they can give it away. stuart: i would like to hear a more forceful response to the confiscation policies enhanced by elizabeth warren. ro deirdre: more interestingly, this is giving elizabeth warren a kind of win. she's had the best week she's had in a very long time attacking all of these billionaires. i think any time somebody attacks a billionaire, somehow in this current environment, the attacker looks good. she, by the way, for this wealth tax, raising it to 6% from 3%. ashley: let me just say this for mr. gates. he did say that overtaxing really threatens the u.s. place in the world as the top place for innovation. deirdre: great point. ashley: there was a little crumb. stuart: i'm real glad he got that in. thanks. now i want to get a quick check
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of the ten-year treasury yield. i bring you this because it's important. the yield is all the way up to 1.92%. now, that is a bullish signal. in part, that's why we've got a stock market that's rallying this morning. when that yield goes up, it's a sign of strength in the economy and that's helping the market because we're at record highs all across the board. plus this favorable news on china trade as well. all good stuff. next one. president trump's in louisiana. he was there last night for the big rally. it was all about getting a republican elected in louisiana's governor's race. cassie smedley is with us, rnc deputy communications director. i have to challenge you here. i think the president has a real problem with the suburbs. that's why virginia turned blue in the elections on tuesday. he didn't do well in the suburbs in '16, in '18 or in the elections earlier this week. what are you going to do about that? >> well, to be clear, the trend in virginia happened before
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donald trump. but we did win 12 out of 13 states -- stuart: please, please, address the suburbs. because he ain't winning. >> but let's look at those 12 out of 13 states. great night in ohio, great night in new jersey, great night in new hampshire. we won a mayoral spot we had no business winning in aurora, colorado. republicans are turning out and voters are voting for republicans. stuart: with all due respect, look, he's not winning the suburbs. white well educated women are not voting for him. how does he get them back? >> well, to be clear, he hasn't been on the ballot yet. but what we are seeing is when you were just talking about elizabeth warren. she's not just attacking millionaires and billionaires. she's attacking everyday americans with her multi-trillion dollar plan. same with joe biden. saying you go down the line of every democrat candidate. when you put them in a head-to-head, for example, i think you just had kayleigh mcenany on earlier this week.
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head-to-head against joe biden, we gain ten points with women. we expect those trends across the board in head-to-head matchups because when you look at the policies and the issues that american voters care about, suburbs, urban areas, rural, doesn't matter, it's the economy. that's where donald trump is winning and delivering. that's where everything the democrats are talking about is just inconceivable and would be so destructive. stuart: i'm with you. tell me how impeachment is going to affect voters. you have to hope that voters are turned off by impeachment. because if they are turned on by it, you are going to lose. >> well, we have data that suggests they are turned off by it. in fact, polling we just got back shows that 70% of voters in these battleground states, the 17 battleground states we have identified, they are fed up with democrats continuing to go after the president. they want to see congress work on the issues they care about, economy, trade, health care, immigration. 70%. that is a huge number that we are working with to make sure we
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are engaging with these voters to show them who is working on their behalf. that's donald trump and republicans. stuart: okay, look, i want to thank you very much for being with us. i didn't mean to give you a hard time here. but i think there's some key issues here which have just got to be addressed if you want your guy to win a second term. cassie smedley, thank you. we're obliged to you. thank you very much. i will check some travel web sites and the reason i'm doing this is because they are way, way down. i've got expedia. they had a rough earnings report. revenue down over $100 million from this time last year. $100 million down. that's dragging the others down as well. trip adviser, booking holdings, all of them down in big percentage terms. you know you've got a selloff when you say down 20%, 30%, 10%. whatever. okay. walgreens teaming up with google's drone company wing to bring food, drinks, over the counter medication straight to your doorstep. next, a live demo on how this thing's going to work.
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stuart: well, well, well. walgreens has a new drone delivery service. they have partnered with google to do this. hillary vaughn in virginia, take
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me through this. soup to nuts, how's it work? reporter: stuart, you order items on an app through walgreens, people pack up the packages with the items you ordered and now we are showing you the process live. they take that package to the drone that gets dispatched from this drone nest, and the drone lowers down, you will see a cable drop down, they will hook the package on to the drone and then it takes off. the benefit of this in suburban communities especially, drones can travel up to 65 miles per hour, it's a lot faster, there's no traffic lights, there's no speed limit, so you can get something you order on an app within minutes to your doorstep. google's drone company wing is partnering with walgreens as part of this. they are also partnering with fed ex, who comes by and drops off packages and these drones complete what they call the last mile delivery, where they take the packages and then deliver them door-to-door. so there is a huge convenience
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factor for anyone who is wanting to get an item to their door within minutes, and not have to wait and not have to leave their house, and there's also a big economic incentive for local businesses to participate in this type of program, stuart, because virginia tech did a study and found that especially for local businesses in the area, they can boost sales by 27% by including drone delivery because of course, if you can get something to your door, there's huge incentive to order from the local business in your area as opposed to somewhere else. stuart: may i congratulate you because that was the best drone delivery report that i have ever seen, because you actually showed me how it works, the package carried by the guy to the drone nest, hooks it up to the cable, off it goes. we have never seen that before. we always get models or something, or this is how it's supposed to work. but you did it. that was really good. you better come back and do it
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again. reporter: thank you. stuart: hillary vaughn, what a star. reporter: i'm here all day. stuart: good. thanks to all those guys who helped you as well. that was excellent. thank you. thank you very much. it's remarkable. deirdre: very cool. stuart: senator elizabeth warren's medicare for all plan getting a lot of heat. from both sides. coming up, we are talking to the "wall street journal" guy dan henninger. he calls her plan, wait for it, the chernobyl of the democratic left. ouch. we are also joined by the former dirty jobs guy, mike rowe, big on skilled labor. millions of job openings in america. why can't we fill them? he has some ideas on that one. and he's next. ♪ orlando isn't just the theme park capital of the world,
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they are on the ballot officially. got it. the markets officially at record highs. we will check a few stocks for you. let's go through them. first of all, the dow industrials now up 230. we had been up 240 but we will take this. 27,725 is where we are. the s&p, new record high, nasdaq, the same. look at the left-hand side. the nasdaq is up 63 points at 8,474. the s&p up 16 at 3093. we've got some big winners. yes, we do. here's the list. first, united health. these are the biggest winners among the dow 30. united health up nearly 2%. walgreens up about 1% plus. goldman up 2.5%. lots of big winners among the dow 30. now, which stocks in the dow 30 hit all-time highs? three of them did. here they are. apple, $259 as we speak. jpmorgan, $131.
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united technologies at $148.96. how about that. it's called a rally. it's a big deal. our next guest has a new book. the book is called "the way i heard it." our guest takes the stories of 35 famous people, lays the story out but he doesn't tell you who the story is about until the very end. you've got to figure it out for yourself. who's the author? mike rowe, the man right there, left-hand side of your screen. you know him as the dirty jobs guy. all right, mike, can you give me an example of one of these stories? >> sure. spoiler alert. i will tell you about the first one in the book. it's a story about a famous corporal named kaminsky, a man who was 18 years old during the battle of the bulge and he was hunkered down in the trenches with his mates listening to the german propaganda songs that were being blasted through the
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forest through loudspeakers. this enraged corporal kaminsky and so he set up a record player which he carried with him, crazily enough, and some records, and he climbed up a utility pole, and he jerryrigged the loudspeakers so the sound that came out of the speakers was al jolson singing "tootsie good-bye." it absolutely broke up the nazis because suddenly, this guy, corporal kaminsky who by the way, is now a target at the top of a utility pole, imagine playing one of the most famous jewish songs to a forest filled with nazis. this guy, kaminsky, goes on years later to have a career that you know very well, and that moment in his past explains why melvin kaminsky went on to write songs like "springtime for hitler" and "don't be stupid, be
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a smartie, come and join the nazi party." melvin kaminsky is mel brooks. everything you need to know about that career in my view, you can understand in that moment during the second world war when he took an incredible risk just to get a laugh. stuart: mike rowe, not only do you have a fantastic broadcaster's voice but you are going to -- you just sold an extra 10,000 books with that story right there. that was a killer entree. great stuff, man. great stuff. let me talk about -- >> thank you. stuart: just for something else, just for a second, you like to get guys into blue collar jobs, get them trained to do blue collar jobs. i mean, you are big on apprenticeships, i believe. here we have, what, seven million unfilled jobs in our country. are we just not training people for these jobs? is that the problem here? >> it's not just that. it's that we have unintendedly
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maligned an entire section of our work force by promoting one form of education, in my opinion, at the expense of all of the other forms. 40 years ago, college needed a p.r. campaign. we needed more people to get into higher education. but when we gave the big push for college, back in the '70s, we did it at the expense of alternative education. in other words, we told people if you don't get your degree, you are going to wind up turning a wrench. that attitude led to the removal of shop classes across the country, and the removal of shop classes completely obliterated from view the optical and visual proof of opportunity for a whole generation of kids. the skills gap today, in my opinion, is a result of the removal of shop class and the repeated message that the best path for the most people happens to be the most expensive path.
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this is why in my opinion, we have 1.6 trillion of student loans on the books, 7.3 million open positions, most of which don't require a four-year degree. we are just disconnected. we are rewarding behavior, we should be discouraging, we are lending money we don't have to kids who are never going to be able to pay it back to train them for jobs that don't exist anymore. that's nuts. stuart: you are a really good broadcaster. you are a really good author as well. that story that you started off with, we are still talking about that. deirdre: more, more, more. >> tragically, i only own one shirt, as you can see. i had no idea this was going to happen. if the book is a hit, i'm going to go buy something in a nice snappy red, i suppose. i don't know. stuart: don't do that. the book's a hit anyway. i promise you that. mike, it's always a pleasure having you on this show, seriously. that was just a great book. thank you very much, sir. thank you.
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>> thank you for including me in a list of winners. stuart: yes. you are a winner. mike rowe, everyone. thank you very much indeed, sir. okay. now, next one. yes, it's thursday. you know what that means. yes, it is mortgage rate day at 10:00 in the morning. "wall street journal" dan henninger day also. look at that. that is his headline from today's article. he writes an article every thursday in the "wall street journal." i read it every time. that's today's. has elizabeth warren wrecked the left? part of this is about medicare for all. that's her plan. which dan henninger describes as the democratic left's chernobyl. another great broadcaster. here we are. the left's chernobyl. explain yourself. >> well, elizabeth warren released this medicare for all plan last week, and it was thought that it had done a significant amount of damage to her own campaign. but i think what she has really done is significant damage to the entire democratic left wing
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project. let me explain. after the 2016 election, as we know, the left took over the democratic party. kind of because of bernie sanders. fast forward to when the democratic candidates start running this year and what are we talking about? we talked about it on this program earlier in the year. medicare for all, the green new deal, free college tuition, and these are left wing ideas that get proposed and it was remarkable how quickly the democratic candidates saluted all of them. kamala harris, cory booker, green new deal. they signed a resolution with alexandria ocasio-cortez to support it. so this is rolling along and we get to last week and elizabeth warren releases her plan for medicare for all. and what does it say? this is what nationalized health care is really going to look like. 177 million people are going to lose private insurance. stuart, that's half the american population. it's going to cost $51 trillion
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over ten years. there's going to be an array of taxes to pay for it. if drug companies don't comply with her price control program, she will abrogate their drug patents. so on and so forth. she has done to the left the worst thing imaginable. she let the cat out of the bag about the details of what they are proposing. what she has said is -- made clear is they can't pass the most basic test of fiscal or politic political plausability. stuart: she cannot roll it back. the details of this plan, well studied, big plan, big thick stuff like this, might get her advancing in the primaries, i think it probably will, but when it comes to the general, she can't reverse course. she can't say we're not going to do that, we're going to do this. can't do that. she's committed the democrat party to an extreme left wing position. >> yeah, exactly. but they have done it on the green new deal, free college
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tuition, so that when any of their opposition, let's say donald trump says but what is the price tag going to be for all of this, that's not just the political question. that's because of what she has done with medicare for all, becomes an absolutely legitimate query to put to any democrat running for the presidency. now, the answer is always going to be something that is utterly implausible and unaffordable, a pipe dream. stuart: doesn't this give more impetus to joe biden, the so-called moderate in the field, the leading moderate of all the candidates, wouldn't the extreme leftism of warren and sanders, wouldn't that push people, more ordinary democrats, towards biden? >> theoretically, if joe biden stands his ground. the question is, can joe biden stand up to the democratic left. as i said, we saw early on in the campaign how few of them were really able to stand against it because they think the democratic primaries are completely controlled by
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progressives, young millenial voters who embraced all these ideas. joe biden to some extent, his worst days, kind of nods in that direction. i think they really need a candidate who is just, as elizabeth warren has done, blown the whistle on the democratic left. stuart: i'm waiting for that person to appear. >> do not hold your breath. stuart: i shall not. dan, great stuff. thanks for joining us, as you do every thursday. appreciate it. now, quick check of a couple stocks. first of all, uber. more bad news. what is it, 96,000 drivers, uber drivers in new york city are filing a class action suit against uber. they claim they were underpaid over the course of three years. now, the stock is, what, up five cents but look at that price, $26.99. they went public at $45. they are way, way down and staying down as of this moment. microsoft. more good news for them. on track for a record close. it's got to finish above $144.61. if it does, that is a new high
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for the stock, of which i own a tiny thin sliver. but a sliver is good enough for me. next week, the impeachment hearings begin and they are going to be public. sounds to me like this is going to be a media circus. coming up, we are talking to bret baier. what does he make of all this? we'll be right back. ♪ ♪ ♪ ♪ ♪ ♪
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stuart: another edition of varney on the road. what if i told you could have a land rover change colors? don't laugh. blue one day, green the next. is this a reality? deirdre: yes, it is. it is called amyled body work. long story short, it turns the entire interior of your car into
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basically an ipad. you can change the color on the outside but you also couldave these wrap-around dashboards, color change body panels in the car. not clear when this is going to be brought to market. but essentially this technology is not just fancy for fooling around with colors, it is also actually lighter than a lot of materials in there so for those interested in fuel efficiency, it is showing great promise. stuart: changing colors and flashy dashboard -- deirdre: the fun part. stuart: yes. yes. it's kind of cool. i'm in. deirdre: all right. ashley: oh, boy. stuart: talk about a change of subject. let's talk impeachment. that's a real change of subject. congressman adam schiff announcing that public hearings will begin next week. bret baier's with us, host of "special report" on the fox news channel. bret, i think this is going to be a media circus. i think you will agree with that. >> that's a no-brainer. i agree with you there.
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this will be democrats' efforts to put their best foot forward as far as selling impeachment to the american people. they've had all of these closed door depositions. you have seen some of the transcripts already. we will see more of them as we get closer to the public hearings. but the public hearing really is the time where they are lifting up their argument and saying this is why the president needs to be impeached and removed from office. stuart: but it's not a completely free debate, is it? i think congressman schiff controls which witnesses will appear. the republicans are not guaranteed to get their own witnesses and their own questions in. kind of a biased to one side, isn't it? sounds that way to me. >> it is set up that way. the republicans can request to either subpoena witnesses or call witnesses, but they have to be approved by adam schiff and the majority of the committee. so one would think that if a witness is not lining up to where schiff wants it to go, that they wouldn't approve him. you're right, the one thing that
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republicans have in this format is the ability to cross-examine in public. and that sometimes can be very effective which is why you're seeing an effort to put people like jim jordan, people like adam zeldin and others who have talked out eloquently in defense of the president on this committee, to be able to do so in front of the american people. stuart: look, this program dabbles in politics. we do a lot of political analysis, we do, but we are basically a financial program. i'm going to make -- why are you smiling? >> well, yes, you are. but you do other things, too. stuart: but i'm making the call that our viewers are much more interested in this remarkable bull market, this remarkably booming economy, not so much in the politics of these impeachment hearings. what do you think? >> this is the double-edged sword for democrats. because the economy is booming, because there is this sense that things are going pretty well economically for the country,
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once you get to the new year, which is an election year, the onus is on the democrats because republicans could easily say hey, listen, if you want to kick the president out over this, which is murky, they will argue, then american voters should do it and they should do it at the polls in november 2020. so time is on the administration's side when it comes to this impeachment battle. stuart: how long will these hearings go on for? i ask because you are going to be working eight days a week and 25 hours a day. >> right now, we only have the schedule for next week which is wednesday and friday. likely to take up most of the day. we will have coverage on fox news channel. and i don't know what it's going to look like after that. so far they only have three witnesses publicly announced. there may be more as time goes on. but there are some witnesses who are not getting called, why, because maybe they don't tell the story that adam schiff would like to tell. stuart: you think this could wrap up fairly quickly, if the hearings don't go well, will
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somebody pull the plug on it? >> maybe. and i think that you -- no, i think you saw with two democrats voting against the impeachment inquiry, that was shaking some democrats to the core, the fact that they lost two democrats and there was a completely partisan vote, that's exactly what republicans in the senate would like to see by the time as expected it gets over to them. they can just say it's a partisan thing and we are standing with the president. stuart: well, our eyes are on the market, which is doing fine. thank you very much. bret, we will watch tonight, of course, 6:00, fox news channel. love to have you on the show. thanks very much for being here. >> thanks, stuart. stuart: now then, let's talk the irs, let's talk tax rates because the irs has just released the new tax brackets. ashley: oh, goody. stuart: we can now tell you which rate you are going to pay next year depending on your adjustable income, of course. deirdre has the numbers but we will save them until after this break. ♪
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stuart: you see that? yes, we are invested in you. to prove it, i will tell you about this. the irs just released an update
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on what next year's tax rates will be. deirdre? deirdre: okay. we will pay more. let's cut to the chase. so your amazing team, we have some graphics we can show everybody. basically, what happened, those are a lot of lines there but essentially, i did a lot of calculations. whether you are a single filer, whether you are a married couple filing jointly or whether you are married individuals but yet filing separately, essentially all of these numbers have gone up, the ones you will file by the way in april 2021, they have gone up on average about 1.6%. i sort of did the average for all those categories. stuart: here's where you need your iphone. whip it out and take a screen shot of what's on your screen right now so you can refer to it later. deirdre: essentially the income level you will be taxed at has been increased by 1.6%. you think you are going to make more and you are happy with that, the government will be
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taking more. stuart: by the way, okay, you don't need to use your iphone. go to, where the full story are listed. bottom line is, they have shifted the tax brackets so you pay a little bit more on your income. that's it. that's what they've done. deirdre: if you are going to speak to the department of treasury, they will tell you we are keeping pace with inflation. stuart: yes. okay. all right. ashley: 1.6%. that's about right. stuart: we will give them that. deirdre: begrudgingly. stuart: what's next, producer? tell me, please. i'm totally blind here. market. why not. look at this. the dow industrials are still very close to their all-time record high. we were up 240. we will take it. now up 216, 27,700. that's the level. that's true of all the indicators, s&p and nasdaq as well. left-hand side of your screen, what have you got? ashley: i wanted to mention gold.
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we know the ten-year treasury is 1.91, 1.92, down $28 today. deirdre: yeah. ashley: another -- leaving safe havens and going risk on. stuart: 1.9 whatever it is percent -- ashley: almost $28. stuart: a big drop. the biggest drop i have seen recently. that really is. it's the biggest rally we have seen in the stock market for some time. a big down on gold, big up on stocks, big up on the yield on the ten-year treasury. deirdre: the idea that china, right, saying it agreed with the u.s. to roll back tariffs or at least not impose the december round. however, i just think it's interesting, china is saying this. china says that china and the u.s. agree. the u.s. has said nothing. we don't know if they are actually front-running the white house. stuart: god forbid they come out with a statement, i'm not going to preempt that by any means. we have some stocks on the watch list. stocks that are in the news and moving. let's start with roku. came out with profits yesterday. it was a nice report. but the thing really sold off
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today, down 10%. i should tell you that one of our analysts, an analyst who follows roku on the show earlier today, stuck by her prediction that roku goes to $250 a share next year. fox corporation, they just reported, nice profits there. they are up 4%. pg & e, the california utility, in deep trouble. down to $6 a share. that's a 10% loss today. have we got any more on the watch list? i think we probably do. yes, we do. fossil, watch maker, okay, down 21%. i guess they produce -- i don't know exactly the story there, but they are way down. expedia, travel booking company, down 24%. my goodness me. what a drop. polo, ralph lauren, nice gain there. doing well with sales in europe and with china. the stock is up 11% today. deirdre: disney after the bell. stuart: disney after the bell today. let's not forget that. all-time
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highs. show me those, please. i think we've got three dow stocks that are at all-time highs. yeah. we got them. apple at $259. morgan, $130 a share. united technologies, $149. they are dow stocks. those three have reached all-time record highs. ashley: big rally day. stuart: it's a rally day. year end rally. santa claus. call it what you like. stocks are up. more "varney" after this. ♪ driverless cars, or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. . .
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stuart: i want to remind our viewers of one terrific guest on the program, mike rowe, the "dirty jobs" guy. there are 35 characters. you don't find out who the characters are until the end of the story. he brought us the story of mel
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brooks,. in case you didn't know it, he displayed chutzpah in the battle of the bulge. took a radio to top of a poll to play jewish songs for the news sys. what a guy. neil: thank you, stuart. it is dictating course where stocks are trading. stocks magically going into a melt-up right now. edward lawrence what is all prompting that. hey, edward? reporter: neil, we're getting last minute information. we're telling you u.s. and china are rolling back tariffs. they agreed to roll back tariffs as this trade deal lays out. that is according to the chinese commerce ministry. we're hearing a source within the administration that is accurate. that if this deal gets on paper, gets finalized, the phase one part of


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