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tv   Varney Company  FOX Business  July 12, 2019 9:00am-12:00pm EDT

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matt, mike, thank you for joining us. have a great day. stuart, take it away. stuart: just gave me an extra ten seconds. what am i going to do? maria: i owe it to you. i owe it to you, and more. stuart: good morning, maria. good morning, everyone. who would have thought the day donald trump was elected the 45th president of the united states, the dow was at 18,000. now it's crossed 27,000. that remarkable trump rally has added nearly -- no, exactly, exactly $10 trillion added to the value of all stocks since the day the man was elected. who would have thought? nobel prize winner and "new york times" columnist paul krugman forecast a stock market crash. how wrong can you be. the pundits got it wrong on the economy as well. how many of them figured out that tax cuts and deregulation would set up a boom that's still going strong? they have been whining about trump's prosperity ever since.
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who would have thought we would be looking at nearly five million new jobs, record low unemployment for minorities, rapidly rising wages and no inflation? that's what we've got. i think they're all blinded by their contempt for all things trump. so look at this. the market rally continues this friday morning. now we have no idea how this market closes but i can tell you that at the opening bell, we will almost certainly hit a series of new highs. the dow at the opening, up about 70. s&p, up about six. nasdaq, up about 14 points. all right. i promised a big day. we are going to deliver. at 10:00 this morning, the young radicals defend their statements about the border in congress. are those detention facilities really concentration camps? you are going to see it. and you will see history being made on wall street. "varney & company" is about to begin and we're going right at it. the alert. i was missing that. okay. we ran it.
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all right. who's with me now? market watcher jonathan hoenig. big smile from chicago. here's what i'm hearing, jonathan. the market goes up some more if the profit reports next week and the week thereafter are strong. what say you? >> it's a bull market, stuart. the old saying is there are no tops in a bull market. look, this bull market has overcome many pieces of bad news, whether it's in the middle east or even some less than savory profit reports. stocks are turning upward but what's interesting is the leadership. you know, the year and a half ago, two years ago, it was all technology we were talking about. now it's reits, utilities, even gold stocks. some of the more defensive names. look, the trend is up. i think people should be bullish. i do think, however, they should take this time and say look, the news is good, take this time to get your financial house in order, pay down some of that credit card debt. now's the time to do it to really be a contrarian in this
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market. stuart: okay. but for our viewers who may have a little money on the side still available for investing, should they put it straight into the stock market now? >> yes, i think you can buy stocks but i think you need to be selective. you just can't buy any old thing. for example, a lot of the small stocks have underperformed by almost 12% or 15%. they are underperforming. i always say investing is like bar hopping. you have to go where the action is. take a look, for example, at some of the weak dollar plays like gold or some of the utilities offer reit. go with what's moving now. stuart: bar hopping at my age? good lord, man. jonathan, stay there. i'm going to move away from money and into politics. i will get back to you in a second. aoc and other freshman members of congress are testifying this morning on what they saw at those detention centers. joining us now is fox news contributor tammy bruce. good to see you.
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>> good morning. stuart: i see this hearing today as high political theater. i see it as the radicals firing back at nancy pelosi and further splitting the party. what say you? >> the word high might be a little bit too generous. i think it will be low political theater, right. and this is -- the people want results. they want their money to be spent properly. we are tired of theater. we are tired of people prancing around and making accusations and getting nothing done for the country. so this i think will backfire. at the same time, it's interesting, the fight with nancy pelosi is also backfiring. we have seen that play out publicly on social media. representative clay i think from missouri has actually -- democrat -- has said something very very striking, that he suggested that this squad, this team of young women, should wait and mature, he used that word, so that they could become effective legislators. it seems that the caucus is
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coming around nancy pelosi. even radical is too good. you need to be somewhat mature to be a radical, to actually try to have an impact on your environment. in this case, there is a level of immaturity, of people who think that this maybe is reality television, but it is a serious dynamic and the problem is they are making nancy pelosi look serious herself. this is the interesting thing that the left does, goes so far to an extreme that they are actually somewhat extreme individuals that begin to look normal. they reset the center that way. stuart: i think nancy pelosi tried to placate the radicals with her statement yesterday about the i.c.e. raids that start on sunday. speaker pelosi, she's telling illegals how to avoid the law. don't let the i.c.e. agents in. can you expect that from someone who is third in line for the presidency? >> see, that's where she herself is a problem. so this becomes a big distraction.
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keep in mind what the speaker is telling people. that she is suggesting to that community to ignore law enforcement because when someone's knocking on the door, the general message they're hearing is you've got permission to ignore and not follow the commands of law enforcement, but also, these are just 2,000 individuals who have been ordered deported, but -- and there are so many in the communities that are not those individuals, but those people are damaging the hispanic and the immigrant communities because that's where they're living. she is telling the innocent people, the super vast majority, we are going to protect those who are criminals and, you know, defying the law, that's impacting those lives first. it is an amazing abandonment of the hispanic community and the chaos, someone very well could get hurt. we saw hillary clinton tweet the same kind of thing. it is an amazing abandonment for
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an attempt to get some political benefit from. it's just extraordinary. stuart: what a pleasure to have you on this program on a friday morning to get us all fired up. >> the news never ends, does it? stuart: never ends. thank goodness. tammy, thank you very much indeed. we are watching money very closely. it will be a huge day. i'm looking at bitcoin. i'm also looking at the dow, going to set a new high at the opening bell. now look, president trump slammed bitcoin. he says i am not a fan of bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on thin air, unregulated crypto assets can facilitate unlawful behavior including drug trade and other illegal activity. similarly, facebook libra virtual currency will have little standing or dependability. if facebook and other companies want to become a bank, they must seek a new banking charter and become subject to all banking regulations. just like other banks, national and international.
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we have only one real currency in the usa and it is stronger than ever, both dependable and reliable. it is by far the most dominant currency anywhere in the world and it will always stay that way. that was a long tirade against the cryptos. i don't think that met with your appreciation, jonathan. tell us, where's the president wrong? >> i don't know, stuart, during the president's tenure, u.s. steel is down by about 60%. the u.s. dollar is down by about 4%. but bitcoin is up by about 1,000%. he might not be a fan of virtual currency but the marketplace is, stuart. this is an aerea of innovation many have embraced and with great profitability. what's inappropriate is for the president to get involved in this. look, the president would have shut down the wright brothers in 1903. stuart: wait a second, jonathan. i understand the talk about principle here, but what about the reality? bitcoin is used in the drug trade big-time.
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bitcoin is used to extract ransom from cities whose computer systems have been broken into and broken down. surely you've got to do something about that, haven't you? >> those are crimes, stuart, whether it's extortion or -- those are crimes that should be prosecuted. stuart: the nature of bitcoin is you can't find out who did it. surely you can have some regulation there. >> stuart, stuart, stuart, the president is dumping on a product that hasn't even been released yet. that's the whole point. facebook hasn't even come out with libra and you have both democrats and republicans saying oh, we got to shut it -- what happened to a free economy? as i said, these are the same type of autocrats that would have shut down the wright brothers in 1903, oh, we can't have anyone flying in a plane, they are going to kill everyone. let the market innovate and go after those bad actors that are trafficking in drugs or whatever. but to come after a profitable successful company that's just innovating is the antithesis of real american innovation. stuart: that was a rotten analogy.
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we can have a smile on our face. mr. hoenig, see you again soon. thank you. good stuff. president trump's getting ready to leave, he's taking a trip to wisconsin. susan, what's the -- what's he going for? susan: usmca, the new nafta. he will be selling it in his sixth trip to wisconsin. he will be visiting a lockheed martin subsidiary and he will make the case again for this new nafta replacement which he says is good for farmers, ranchers, for workers and for business. the expectation is the new nafta which by the way is the trillion dollar trading relationship across mexico, canada and the u.s., they are looking to put this to the floor hopefully before the end of this year, try to get a vote to get it ratified. of course, they need democratic approval to get it on the floor. nancy pelosi holds a lot of cards. she could indefinitely suspend fast-track authority if she wanted to. stuart: but what's the world
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going to say if nancy pelosi with a split caucus says no to usmca? susan: especially with bipartisan support. stuart: that's not a winning political situation. i don't think it is. thank you. check futures. friday morning, we are going up again at the opening bell. about 70 points up for the dow, 12 for the nasdaq, six for the s&p. google is facing a privacy headache this morning. it is admitting that its contractors are listening to recordings of people using its voice assistant, google home. watch out. they're listening. the coast guard releasing wild video of crew members jumping on to a drug smuggling submarine or submersible, i guess is the word. it carried more than eight tons of cocaine. what a story. we've got it. tropical storm barry moving through the gulf, expected to hit louisiana tomorrow morning. going to drop a ton of rain on new orleans. not good. we got a live report from the ground plus we will show you how the storm will affect the price of oil.
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stuart: president trump is getting ready to head to wisconsin. he's going there to tout, as we might say, the usmca. he's visiting a subsidiary of lockheed martin. now, we expect him to speak to reporters before he leaves. if he does, you will see it right here. let's get to that tropical storm called barry. it's heading for new orleans. the city's already been hit by extremely heavy rains. fox news reporter casey steagall is there for us now. can you feel it coming? reporter: sure, we absolutely can. when we woke up early this morning, you could really hear the wind whipping outside. then when we walked out, it was raining. it was really coming down about 15 minutes ago, and now it's dry. that's as those outer bands of the storm that are out in the gulf reach land here in central
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louisiana, and that's what we find happening during storms. it will rain very heavily for one minute, then it stops, then another band comes along ten minutes from now. so we want to show you what really the primary concern here is. not so much a wind event but a rain and flooding event, and this is largely why. the mississippi river back here, look how close it is to the levee, to the top of this levee. these are the new levees that were put in after katrina. remember they were fortified, they were raised. the highest ones are 25 feet and because of all of the flooding in the midwest and recent rains down here, the water in the mississippi is so high, in fact, 16 feet, 17 feet or so, so you do the math there. when you've got levees that are 20 to 25 feet and a river that's already 16, 17, any kind of a storm surge, not good news
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because on the other side of that levee, you see a house. that is a neighborhood back there. in fact, the lower ninth ward, which we know was totally underwater during hurricane katrina. so we have been talking to people who actually are out here and they have been sort of driving through, they have been walking up to take a look at the water levels for themselves, and stuart, so many residents who live here are mighty nervous about how high this water is and the storm is not even here yet. again, landfall expected sometime tonight overnight into tomorrow along central louisiana. stuart: what worries me is that when the water rises in new orleans, the snakes come out. that always bothers me. casey, watch out. we'll see you later. reporter: lots of stuff does. stuart: let's get the impact on the price of oil. carl lowry joins us on the phone, oil analyst.
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we've got iranian and venezuelan exports virtually cut down, half of the oil wells in the gulf of mexico are shut down because of barry, the storm. but we've got no real spike in the price of oil. it's only at $60 a barrel. how do you explain this? >> i think it's a lot like the markets in general. we have become more reactive than acting before it happens. so we need to see how this affects everything and i guarantee you it probably will. we're looking at imports that can't come in, exports that can't go out and all of a sudden, you know, we're a day or two later. as we've seen with most storms, the aftereffects, the things that happen after we discover pipelines, refineries or docks out, that's what people really see and that's when we see action happen. stuart: all i've got to say, thank heavens for american frackers who are supplying a market very well. thanks for joining us. we'll see how the price of oil works out. right now it's $60.31 per barrel.
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let's get back to futures, because we're opening up this market in 11 minutes' time. we are going to be up all over again. i want to remind everyone, so far, since the election of donald trump, the value of all stocks has gone up by $10 trillion. we are going up some more this morning. google not the only company facing privacy issues. apple dumping an app for its watch due to a glitch that allowed people to eavesdrop on others. that story for you in a moment. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance,
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stuart: i'm showing you the yield on the ten-year treasury bond because it is way up. this time yesterday it was 2.07. now it's 2.14. what does that tell you? it tells you that money is coming out of treasury bonds and going into stocks. as susan would say, this is risk on. susan: this is interesting. because we are expecting an interest rate cut still from the federal reserve at the end of this month but we're going up for treasury yields. stuart: i think it's the flow of money out of treasuries into stocks. that's the way i see it. let's get to this privacy issue with technology. the "wall street journal," i think this is kind of disturbing news on the google home virtual assistant, google home, i think it is. susan: that's right. basically, this is nothing new.
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we know that amazon's alexa apparently there are employees, groups around the world, that record some of your conversations and yes, they are listening to you. so a report came out this week that alphabet, the owner of google, they employ contractors around the world to listen to some of the recordings of conversations on your google home. that includes google assistant and android devices as well. google said yes, we do. in fact, we record .2% of all the conversations around the world. stuart: we have to get used to it. they're there. they're everywhere. susan: this is to improve our services as amazon has said. it's just a small snippet for speech recognition and languages. stuart: you used to wear an apple watch. susan: i never had an apple watch. i do wear a watch. you haven't worn one in 40 years and you said it's all in your head how you keep time. stuart: i've just been nailed. i raised the subject of the apple watch because apple has pulled the walkie-talkie app on
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the apple watch why? susan: basically, we have a great audience here. stuart: laughing away. susan: the watch, the operating system on the apple watch, there's a walkie-talkie feature where two people who own the apple watch can talk to each other by pressing a button. apparently there was a glitch in the operating system where i could listen to the other person without them knowing it. two times this year, that's happened. you could actually dial and hear someone else on their own phone. stuart: all right. the market's going to go up. it's friday morning. we are going up in about four and a half minutes. we will be up 70 on the dow, 11 on the nasdaq, stay there, please. big day coming. jardiance asks:
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and get a 60-day money back guarantee. free shipping and free returns. order now and you'll also get our most popular treatment boosting accessories, a $50 dollar value absolutely free. go to right now or call... that's stuart: have i got a number for you. left-hand side of the screen. since the day of the election, 2016, the wilshire 5,000 has gone up 39%. that means the value of all stocks is up $10 trillion as of right now. who would have thought, susan li? susan: i disagree, because the markets actually went up after president trump was elected back in november. stuart: right. krugman didn't think it was going up. susan: the stock market knows better than krugman, obviously.
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trillions being created -- stuart: wait, wait, wait. this is my show. i'm going to get my word in here. how many people thought we would be $10 trillion higher within two and a half years? susan: not many. stuart: who would have thought? susan: not many. stuart: i'm glad we're agreeing, just as the market opens up this friday morning. settle down, children. we're up, we're up 50 points. 51 points. we are up. starting out from an already record high. now already we're at 27,150. that's a gain of a quarter percent on top of the other gains. the s&p 500, show me, please. yes, it's up. only three points, though. not much of a gain but still above 3,000. that is an all-time high. 3003. the nasdaq is up 13 points, 82 sod 8209. not a new high, but pretty close. the yield on the ten-year treasury, 2.14%. that means the yield is up which means the price is down which
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means money is coming out of bonds and yes, it is going into stocks. risk on, as susan would say. price of gold, $1,411 an ounce, up four bucks this morning. big day today. it's friday. who's with me? david dietze, john lonski, susan li. john, first of all, the market at record highs. is it going up from here? >> it should go higher as long as we set new record highs for aggregate measures of profitability, and provided that benchmark interest rates remain well contained. yes, it's going higher. stuart: it's all about profits? >> with steady interest rates, yes, you are going to get new highs. stuart: room to go higher still, david? >> absolutely. two key components. one, what are you going to pay for earnings and of course, the fed has our back. interest rates are coming down. that's the positive. but year over year earnings are going to be actually a little bit below the flat line. stocks have been up 10%. all eyes have to be tuned into what companies are reporting next week.
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the foundation is shrinking a little bit, there's only so high we can go. stuart: okay. all right. you're a little cautious. >> i am a little cautious. selective. that's what it's all about. >> we are getting the steeper yield curve now. end of july rate cut will no longer have an inverted yield curve. the ten-year treasury yield should at least -- that's a positive. the fed acted quickly enough. stuart: let's talk serious money. let's talk amazon. they are now a trillion dollar company, valued right now at $2011 per share. would you buy it? you are a cautious kind of guy these days. would you buy that? >> well, it's hard to be bullish on the market without being bullish on amazon because it's such a large component of the market but we are more selective in other areas. here's the problem. the valuations are very high. all the money is being made in cloud and of course, you know, at this point, they are facing a raft of government investigations and so forth, antitrust, new taxes in europe and in france, so there are some
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reasons to be cautious. stuart: but it is prime days next week, two of them. susan: 15th and 16th. i think analysts have been racheting up their expectations of sales up to $4 billion over that two-day period. that's, of course, if the website doesn't crash like it did last year when it was overflowed with too much demand. stuart: we have the person who runs amazon prime, he's on the show in about ten minutes' time. he will answer all those questions. the big board right now, after three and a half minutes worth of business, up 76 points on the dow industrials. price of oil, only $60 a barrel. i say that because half of the oil production in the gulf of mexico has been shut down because of the storm barry, and you still don't really have a spike in the price of oil. price of gasoline, holding pretty steady, $2.77 is your national average. volkswagen investing billions of dollars in ford's self-driving operations. why are they doing that?
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>> well, the most challenging technological thing in our time here to get this autonomous driving off the ground but it's going to cost billions. there's a number of companies in joint ventures on it. they are trying to consolidate to cut costs and pool their resources. this makes all the sense in the world. stuart: i just don't see this self-driving thing. susan: it's very expensive. stuart: you don't think i will live long enough? susan: wow. stuart: i set myself up for that. i really did. susan: it's an expensive venture. as i was talking to uber's head of automotive and self-driving, they just got an $8 billion to $10 billion infusion from softbank and the like. they need this money. 's t it's an expensive venture. lit will it be a reality? they say in 20 years it might be in terms of cars being able to go into any city, drive anywhere under any road conditions. >> which begs the question. stuart: have i got 20 years left?
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susan: i think you do. >> it also begs the question that when you have a shrinkage of profits that are severe enough, there's going to be a lot of cutbacks in spending on autonomous vehicles as far as r & d is concerned. stuart: okay. look at bitcoin. we have covered stocks and bonds. bitcoin this morning is up $350, $11,700. it's up this morning after president trump really laid into it, slammed it, and the president criticized facebook's libra digital currency. do you agree with the president's criticism? >> i think his warning is well taken. on bitcoin. the only reason to buy bitcoin is because you think it's going -- somebody else is going to pay more for it than you did. otherwise, i don't see its utilities. libra, i will use libra if i could buy a product at a cheaper price by using libra. otherwise, why bother? stuart: i would leave bitcoin alone if they would get out of the drug trade and ransom
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business. >> i couldn't agree with mr. trump more. libra, bitcoin, it's all out of thin air but guess what, the u.s. dollar is out of thin air. that's why we're all here, investing in stocks, investing in companies actually making something. i wouldn't invest in any of these nonstable units of value. >> but they still price gold in terms of u.s. dollars. that tells you there is still value in the dollar. susan: there's only one reserve currency in the world, the u.s. dollar. it's impressive, you got a lot of insight from the social media summit yesterday but that is exactly what libra is, to change the entire dynamic of the global banking system and make facebook a player when it comes to actual having currency. stuart: get yourself a banking license. get a license for it. i'm going to move on. sign of the times. you want to talk about this. starbucks will stop selling newspapers. what's the big deal? susan: okay. basically when you go for your morning coffee, you would pick
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up your newspaper in the morning, the likes of "usa today" and it won't be sold anymore after september 1st because there isn't that much more demand for it. you have your digital phones to read the newspapers off of. will that hurt some of the circulation? they say a little bit, not a huge amount. the fact that you get your coffee, you don't get newsprint anymore, it's a change in the times. >> i have a slightly different take. they were too popular. people were just taking the papers and walking out without paying for them. they weren't returning them to the racks. this is a way for starbucks to increase the cup of coffee. used to be a cup of coffee and free newspaper. no longer the free newspaper. stuart: let's look at big tech, please. including microsoft. look at that. is there any stock on that screen, apple, amazon, facebook, alphabet, microsoft, any one which you would buy now, david? >> well, i certainly like microsoft. i love their leader.
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they've gotten increasing and are right on amazon's tail in terms of the cloud. they still have the windows franchise. i like microsoft. stuart: okay. any other offers of what you might buy? you don't have to say microsoft to stay on the show. >> what would i take right now? boy, i would go with apple. they have success bringing out new products. why should that come to an end? stuart: old tech? >> come on. don't get into something new. you'll see. stuart: sorry, i've got to move on to something that's truly interesting. put that script on the screen again. hold on. susan: we were talking about the rotation of money. i was looking at this. $28 billion has rotated into u.s. money market funds since the s&p 500 hit a record past 3,000. people are getting on the band wagon. there's more money, liquidity flowing to u.s. markets. that's why they expect these record levels to continue, especially with interest rate cuts at the end of this month. stuart: we have breaking news coming at us momentarily. i will get it worded precisely
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correctly. i don't think it will affect the stock market. in fact, it clearly hasn't. labor secretary acosta has just said, he's the labor secretary, acosta has just said he will step down one week from today. alex acosta stepping down one week from today. embroiled in the recent scandal about mr. epstein and what he was doing ten years ago. got it. now, that has not had any impact whatsoever on the stock market, nor should it, quite frankly. we are up 88 points on the dow industrials. now, this is -- i'm going to call this a sign of the times story. lauren, have you got the story on fake michigfish? lauren: i do have the story on fake fish. stuart: give it to me. lauren: would you eat seafood, fish, that wasn't fish if it tasted like fish? it's kind of weird. this is the whole beyond meat trend going into the seafood industry and possible -- impossible meats is coming out
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with this fake fish. it's strange. a lost peopt of people go for a because they care about the environment. they still like meat, they just care about the environment and want to eat less meat. will you do the same with seafood? stuart: my son is an organic farmer in new zealand and shocked me when he said they just introduced synthetic milk. fake milk. they can produce it. he's a dairy farmer. organic dairy farmer. he's worried stiff about it. lauren: impossible foods wants to have a replacement for every animal-based food on the market by the year 2035. i'm not sure that is scientifically or financially possible but that is their goal. seafood is next. stuart: give you a little more on alex acosta, labor secretary. he's stepping down one week from today. he was standing next to president trump when that announcement was made. i want to bring this to you again. alex acosta stepping down one week from today. now, we are going to hear what he had to say moments from now, because it's on tape. we are just waiting to get that tape ready for us all.
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susan: he was under fire for that sweetheart deal that he brokered back in 2007 when he was heading up the d.a.'s office in miami. was it too lenient on jeffrey epstein and did he allow this misbehavior to proliferate despite the fact that, you know, a lot of people said he was very guilty for a long time. stuart: that's really brilliant the way the democrats took the whole issue and made it about trump when it should really have been about bill clinton who was on epstein's plane heaven knows how many times. but i digress. lauren: a few days alogo, acost gave a press conference, no apologies, no remorse. now days later, stepping down. this turned very fast. stuart: thank you, everyone, for being on the show this friday morning. historic day. david, john, lauren, thanks very much one and all. check that big board again. the resignation of alex acosta, he's stepping down one week from
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today, has made no difference in the stock market whatsoever. susan: also some snippets. trump says secretary acosta has become a distraction. also, president trump says mr. acosta is a good man, we are going to miss him. they talked this morning and this is the decision they came to. acosta actually called president trump this morning and informed him of his decision to step down. stuart: got it. no impact on the market. we are still up about 100 points. then there's this. cnn's ratings falling big-time. viewers are leaving that network in droves. now, i'm a founder of that network and i'm not happy about this. my take on that in our 11:00 hour. we expect to get sound from president trump momentarily. speaking to reporters at this moment. when we get the tape, you will see it very quickly. aoc will be among four house democrats testifying today about conditions at migrant facilities on the border. any fireworks during her testimony, and we expect them,
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we will bring it to you. amazon gearing up for prime days, plural. it's a two-day event. it starts monday. next, we have one of the top people with amazon prime. "varney" continues after this.
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you need decision tech. but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar. stuart: it's a 100 point rally this friday morning. one third of 1%. the dow is well above the 27,000 level. it's almost 27,200. facebook is the one big technology company that's down today. it's really not down very much, 40 cents lower. it's still at $200 a share. this minor loss may be because president trump tweeted about libra last night. he doesn't like it. he's telling facebook if you want to be a bank, you get a bank charter. the market took that as a
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slight, slight negative. the stock's only down 29 cents, still, $200 per share. more on that breaking news. alex acosta, labor secretary, is stepping down. he will leave one week from today. the announcement came as president trump spoke to reporters shortly before heading out to milwaukee, wisconsin. as soon as we get the sound of what the president had to say, we'll bring it to you real fast. can you show me amazon, please? i want to see amazon stock because that thing is now way above the $2,000 per share mark. this i think is because you've got the amazon prime days, plural, two of them, coming up next week. susan, you know more about this than i do. you really do. i'm going back to 2015, the first prime day, they brought in $900 million. going to be a lot more than that. susan: oh, yeah. it's a two-day event. usually it was just one day. now it's a two-day event, maybe the numbers have now racheted up to $4 billion to $5 billion.
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this is being called christmas in july. it's because we have this movement from amazon prime day, now every other retailer is trying to match it. target will also have deals as well as macy's already has deals on their website and in stores, and other retailers trying to get in on this. if you're going to discount, we're going to discount, too. walmart is also getting into the game and competing when it comes to delivery and one-day delivery and two-day delivery. stuart: five years ago, christmas was huge, the holidays were huge. the day after thanksgiving was absolutely gigantic. back to school was fantastic, end of august. now what's the big retail occasion? i think it's prime days, with target and walmart and ebay coming on strong in the background. susan: absolutely. stuart: they have completely run over everybody else when it comes to retailing. in the middle of summer? it's like christmas in the middle of summer. susan: that's right. well, when you basically control more than 50% of the e-commerce market in the united states, you have that type of power.
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what will be interesting for amazon is the test of their promise for their prime membership of one-day delivery. talking about tens of millions of products going out in one single day, especially with this type of volume, it would be interesting to see if they can actually pull this through. stuart: we are actually waiting on the man who runs the -- he's the vice president of prime, amazon prime. he's getting miked up. he's on his way. susan: he's at the fulfillment facility near jfk airport. that will be probably one of the prime points for new york state and new york city area to get those prime day goods to those customers, especially in 24 hours. stuart: i would love to be there on prime days in one of these warehouses. susan: fulfillment centers. which are very high tech now. they have robots that basically wheel some of these products over to the delivery trucks. it's very efficient. seconds and minutes are crucial in that process.
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stuart: look at the market. we are up nicely, thank you very much indeed. 28 minutes in, we are up 125 points. sea of green amongst the stocks on the dow. they are all mostly, they are up. we will be right back. ♪
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stuart: all right. let's go through this market, because it's a nice day indeed
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for anybody who is in the market. start with the dow industrials. we are now at 27,218. we're up another half percentage point. that's $131. is this the same on the s&p 500? well, yes, it is, almost. that's a smaller gain, .2%. about a quarter of 1%. but you're well above 3,000 on the s&p 500. the nasdaq, 8,221. 25 points up. one third of a percentage point on the upside. all across the board this friday morning, that is a very solid rally, adding to the new highs that we've already seen this week. now, we're getting some of the headlines from president trump. he spoke to reporters before heading out to wisconsin. can you give me bullet points on what he said? susan: obviously the big headline is the labor secretary, alex acosta, stepping down. he will step down in a week's time. basically, president trump of course saying that alex acosta is a very good man. they had spoken this morning and
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informed basically president trump, acosta did, of his decision to step away. president trump also still speaking on the south lawn, saying that acosta had explained his decision on epstein and why that deal was brokered back in 2007 when he was the attorney general in florida, in miami. stuart: so alex acosta is out as the labor secretary. steps down one week from today. he is trump's labor secretary, forced out because of what he did or did not do with mr. epstein ten years ago. susan: correct. stuart: i think we are now beginning to learn where epstein's money went, to politicians. did hillary clinton get $20,000? susan: we know that epstein of course had this vast network of high profile, rich, influential people and that includes also donations that he made and contributed to then senate hopeful hillary clinton. she got $20,000 from epstein in 1999 through her joint
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fund-raising committee with the democratic party, according to the federal election commission. the filings that they made. also bill clinton's presidential campaign also received $1,000 from jeffrey epstein back in 1992. also, john kerry, another democrat here, this was hillary clinton's successor as president obama's secretary of state, he received donations from epstein during his time as u.s. senator in massachusetts in the '90s, also early 2000s as well, and chuck schumer, the senate minority leader, got about $22,000 from epstein. stuart: $22,000. susan: for his house and senate campaigns and other affiliated joint fund-raising committees in 1999. stuart: epstein gave senator schumer, john kerry, hillary clinton, bill clinton, given them money in the past, sometimes in the distant past. do they now give that money back? do they cough it up again? susan: very good question. stuart: that would be the demand if they were republicans. they're democrats. do they have to give it up? we shall see. by the way, new high on the dow this morning, new session
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high, i should say. right now we are up 143 points, 27,231. susan: you asked me that question about whether or not they would give back some of those epstein donations. chuck schumer has said that his campaign will be donating the same amount he did receive from epstein to anti-sex trafficking and anti-violence groups for women. stuart: all right. now, we do have amazon prime y day -- we do? i believe we do. joining us now, the vice president of amazon prime. welcome to the program. good to see you, sir. now -- >> thank you for having me. stuart: everybody wants to know how you're going to handle the volume, because you're looking at an enormous operation. the last thing you want is the slightest glitch. what have you done to prevent glitches? >> absolutely. you can see this place is buzzing with activity already. we have been working on preparing for this year's prime days since essentially last year's prime day was over. we're ready. we have been working very hard.
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stuart: in 2015, your first prime day, you brought in $900 million. what do you think you might bring in next week, the two prime days? >> unfortunately, we never disclose our prime day revenue or sales. i'm actually not allowed to do so because we are a publicly traded company. stuart: oh, dear. how disappointing. i have to tell you most people are predicting $4 billion, maybe $5 billion. i have even seen $6 billion but i do understand you're not allowed to make any comment whatsoever. let me ask you about -- >> we are expecting, what i can tell you, we are expecting a record-breaking year again. we have really been preparing. we have over a million deals this year, it is extended two-full day event. stuart: do you change the prices during prime days? i mean if you look at the competition, walmart offering something cheaper than you are, do you change your price? >> we're very price competitive
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and we're, if we think it's a fundamental part of the amazon experience to make sure that customers can trust that we have the lowest prices. they can absolutely expect us to have the lowest prices on prime day. stuart: do you sell some products at a loss? >> in many cases consideration of a long-term relationship with a customer. it is around a great deals event. we're trying to engage with as many customers as possible. super important to have the opportunity to find great deals. many brands launch new products. they see this as freight opportunity great opportunity to reach a large audience. stuart: are you taking precaution at fulfillment centers near the gulf because tropical storm barry is on the way? >> absolutely. we're prepared for weather-related occasions as well. stuart: if i were you, i were
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amazon, would i try to sell as many kindles as i possibly could, i would try to sell as many as alexis as i possibleky do, i virtually give them away, i get an income stream. people buy books on kindle or alexa and is that your strategy. >> devices are some of the hottest selling items we have on prime day. it is a more than a selling event. it is member engagement. we think prime day is one of core benefits for prime members. it is opportunity to showcase the best of shopping and best of entertainment amazon has for prime members. stuart: are you you allowed to tell me if any members dropped out because of price increase? >> it has gone to, we have adding more and more benefits over time. when we launched in 2005, it was
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a simple shipping program, ground breaking at time. two-day shipping on one million items. we're in transition to a one day program in the u.s. 100 million items available for two-day shipping. over 10 million items available coast to coast for prime members to get one day shipping. prime video has been phenomenal. it is breakout year with great shows like jack ryan, maze sell. it remains great value for customers. stuart: i know you're busy, good luke on prime days, cem shibay. thank you for being here. alex acosta stepping down one week from today. the announcement came as president trump spoke to reporters heading from milwaukee, wisconsin. as we get the sound from what the president had to say you will hear it. he spoke about jeffrey epstein,
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saying he is not a fan of epstein that he threw him out of the club long ago. he is also talking about immigration and other issues. when we get the tape, we'll get it right to you. dow industrials near the session high. we were up 145 moment ago. we'll take up 135. 27,223. who would have thought. big day your money and now this. we're about to see some real political theater. the young radicals who have so divided the democrats will be testify about the border. they made some wild statements. now they will have to back them up. are migrants forced to drink out after toilet? are border detention centers really like concentration camps? is america a gross human rights abuser? this is important because the squad as they call themselves, those four young radicals, has
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dramatically split their party on an issue that will be prominent in the 2020 election. these are the open borders people. they have had quite an impact. they pushed speaker pelosi into a corner, forced her to play defense. just think about this for a minute. immigration agent will start deporting illegals this sunday. the squad is apoplectic. they don't want anybody deported. speaker pelosi has to head off a rebellion. so she is telling illegals how to stay put. you got to watch this. >> an i.c.e. deportation warrant is not the same as a search warrant. if that is the only document i.c.e. brings to a home raid agents do not have the legal right to enter a home. if i.c.e. agent don't have a warrant signed by a judge, a person may refuse to open the door and let them in. stuart: speaker pelosi is third in line for the presidency, she
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is urging illegals to resist the law. she is desperate to get some semblance of order within her party. in a moment we'll see how alexandria ocasio-cortez, ilhan omar, and ayanna pressley respond to this. stay there, please. you will see great political tv as "varney & company" continues. ♪ stuart: let me repeat this. speaker pelosi told illegals how to avoid i.c.e. ahead of this sunday's raids. come in texas congressman lance gooden. your reaction to what speaker pelosi is suggesting. >> suggesting people to break the law is sedition. i think we're going down a difficult path, nancy and the gang they can't person back on. what we're seeing this week is
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total pass syification of far left by speaker pelosi. she started this week off, they were angry with her capitulating to the senate, voting for the budget deal two weeks ago. she started this week off calling the president racist, he wants to make america white again. two days later she is called a racist by aoc this is racist week in washington by the democratic side. they are placing the race card left and right. they have lost control. stuart: you're congressman from a boarder state. how do people in texas feel about it. >> they are sick and tired what they see from the border. potentially, allegedly, i'm not accusing anyone, i'm hearing reports members of congress are encouraging her staff to go across the border, encourage people helping them breaking the law. saying they're asylum-seekers, pretending not to speak spanish so they skirt the rules. that is illegal. that is against the law.
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i hope this comes up in the house oversight committee. the stuff we're seeing in the far left, when nancy pelosi is reasonable one in the democratic caucus we know they have gone crazy. that is what we're seeing. stuart: i'm being quite outspoken. i cannot imagine, middle america, american voters accept this invasion, this open borders policy. i simply don't believe that america america sates that. >> i don't believe they do either. i believe america is sick and tired of identity politics. congressional black caucus is outraged with aoc for the comment she made about nancy pelosi. we're seeing a war within the democratic party that has pushed them further to the left. they have been unable to accomplish anything except this extremism down at the border. i think it will continue through this election cycle. it will get donald trump reelected as our president. stuart: congressman lance gooden, republican from texas. >> thank you. stuart: on that note, by the way, missouri congressman william clay, william lacy clay, full name, called out
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congresswoman aoc for pulling the race card on speaker pelosi. lawrence jones with us. fox news contributor. lawrence that is real split between the black caucus and aoc and ad calls? am i going too far, is not such a radical split? >> it's a split. i'm enjoying every bit of it. they have been making this game for years throwing accusations of racism. i'm sorry, i don't feel bad for nancy pelosi when somehow the mob that she gasoline on, allow i had it to raise on republicans is now scorching her. i don't have a problem with it at all. it is about time these people got a taste of their own medicine. just earlier this week when the president just wanted to know if these people that are in this country, he wanted to know who were citizens, people that weren't citizens, she said that was racism. knowing is in your country.
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so don't cry when they accuse you of racism. stuart: when you chuck out that charge, racism, racist, you hear it all the time, it loses its sting. it loses its bite, it loses its currency, if it is used all the time. if everybody is declared a racist for whatever reason, you have lost the argument because it has no meaning. what do you say? >> problem is, stuart, the accusation is used to shut down the debate, okay? every time there is a spirited debate someone throws out the accusation because it immediately makes someone step back, the worst thing you can call someone. everyone, the get out of the way, they let them decide when. you're right, stuart, it is losing its steam. a lot of americans are sick of it, but i got to say it is very exciting watching the democratic party fight each other on this. she, she started this. nancy pelosi started this.
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now she has lost control of her caucus? look i actually agree with aoc. they do have a strong following. they may only have four votes when it comes to the electoral process in congress but they have a huge following. the energy of the progressive base is with those people. for a while nancy pelosi tried to keep them happy, giving them committee assignments they weren't qualified for? these were freshmen member of congress, they are on the oversight, committee, house financial services committee? she tried to please the base. now the same mob is turning on her. stuart: brother, that was pretty good. we fired you up on a friday morning. i'm used to doing that when you sitting next to me. we're here in dallas being more difficult. got you going, lad. >> thank you, brother. stuart: man, see you soon. thanks a lot. moments from you will hear testimony from aoc on her visit to the border, those detention
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facilities. she will be under oath. will she say she actually saw migrants drink out of toilets? find out minutes from now. joe biden's comments on trump's foreign policy, the former vp is complaining about trump's twitter tantrums. here what else he had to say in a moment. also first amazon's alexa, now google's smart home devices. are listening into your private conversations. we have details on that for you. ♪ welcome to the place where people go to learn about
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remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs. oh, and happy birthday... or retirement... in advance. stuart: where are we now he asked? not quite the high of the day but certainly pretty close. we're up a half a percentage point. 127 point up for the dow at 27,200. how about that? we're awaiting a tape from
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president trump for the remarks this morning, when we get it, we'll show it to you. joe biden lays out the his foreign policy plan. he will restore world order. roll tape. >> erratic failures to uphold basic democratic principles have muddled our reputation and our place in the world. american foreign policy i think has to be purposeful an inspiring. based on clear goals, driven by sound strategies, not by twitter tantrums. stuart: okay. joining us now, jack keane, fox news strategic analyst. general, is our standing in the world better now than it was under obama in your opinion? >> it is absolutely no doubt about it, indisputable. i've been to europe, the middle east, southeast asia, the far east, all since president trump has been in power and what they most appreciate is the
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fundamental change in policy which was disengagement from those areas to engagement. we are now confronting our adversaries. right from the get-go president trump's national security team identified accurately the strategic framework the united states is dealing with. big power competition, russia, china. two regional powers, north korea, iran, both belligerent, both oppressive, both dangerous, confront them. isis and radical islam in general, don't walk away from it, stay engaged. so that is a fundamental shift. i think the world is a safer place for it. by far, so are americans. stuart: but turkey, a member of nato accepted a big shipment of russian missiles. got one minute before we get the tape from president trump. tell me about nato. isn't it breaking up when the turks are doing that kind of thing? >> the number one strategic objective the vladmir putin has to weaken the transatlantic
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alliance and eventually break night toe, this is a huge step in that direction. turkey, second largest military in nato, strategic location, invaluable because they touch the middle east and the entry to asia. they need to stay in nato. it is tragic what is happening before our eyes. stuart: general, thanks very much for joining us this morning. i do apologize cutting this short. we're just getting a tape from president trump. he spoke to reporters shortly before he left for milwaukee, wisconsin. he is going to wisconsin today to take a look at, or rather push for usmca, that's the new nafta. i believe we got the tape. are we ready to roll it? yes, we are. reporter: how do you think your labor secretary did? >> i think he was a great labor secretary, not a good labor secretary. he has done a fantastic job. he is a friend of everybody in the administration. i got a call this morning early from alex.
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i think he did a very good job yesterday under a lot of pressure, he did a fantastic job. he explained it. he made a deal that people are happy with and then 12 years later they're not happy with it. you will have to figure all of that out. but the fact is, he has been a fantastic secretary of labor. alex called me this morning, he wanted to see me. i actually said well, we have to press right out here. perhaps you want to say it to the press. but i just want to let you know, this was him, not me. because i'm with him. he was a, he is a tremendous talent. he is a hispanic man. he went to harvard. a great student. an in some ways i just hate what he is saying now because we're going to miss him. but please, alex. >> thank you, mr. president. over the last week i've seen a lot of coverage of the department of labor and what i have not seen is incredible job
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creation that we have seen in this economy, more than five million jobs. i haven't seen that work place injuries are down, bucking a three-year trend. work place fatalities are down, bucking a three-year trend. that we had the safest year ever in mining, lowest ever fatalities ever in mining. i have seen coverage of this case that is over 12 years old, that had input and vetting at multiple levels of the department of justice. as i look forward i do not think it is right and fair for this administration's labor department to have epstein as the focus rather than the incredible economy that we have today. and so i called the president this morning, i told him that i thought the right thing was to step aside. you know cabinet positions are temporary trusts. it would be selfish for me to stay in this position and continue talking about a case that is 12 years old rather than
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about the amazing economy we have right now. and so i submitted my resignation to the president effective seven days from today, effective one week from today earlier this morning. reporter: [inaudible] >> there is no need at all, as far as i'm concerned. i would, i watched alex yesterday. i thought alex did a great job. you can always second-guess people, should have been tougher. they do it with me all the time. i make a great deal with anybody. then they say like the democrats, oh, it could have been better. i got $1.2 billion settlement fine from a company, from zte. and the next day, everybody couldn't believe it. the next day the democrats said, oh, you should have gotten more. you can always be second-guessed. that is what people do. i just want to tell you, this is a person that i have gotten to
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know, that hasn't been an ounce of controversy at the department of labor until this came up. and he is doing this not for him seven, he is doing this for the administration. alex, i think you agree. i said you don't have to do this. he doesn't have to do this. [reporters shouting questions] we have, as everybody knows, we have pat pisella, he is a deputy. he will be acting for a period of time. i think you know pat. he is a good man, highly recommended by alex. but pat is going to be acting. we've already informed him. [reporters shouting questions] reporter: why did you have a falling out with jeffrey epstein and did you ban him fromage mawing? >> yes i had a falling out. i banned him a long time ago. the reason doesn't make any difference. i haven't spoken to him in 15
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years or more. i wasn't a big fan of jeffrey epstein. now if you look, the remnants hurt this man. i hate to see it happen. i will say this, and i say it again and say it loud and clear, alex acosta was a great secretary of labor. what he has done with plans, you see the plans, coming one after another, you're just about done with 401(k) and -- >> that's correct. >> things nobody would even think of. so it is very sad but at same time he wants focus to be on accomplishments. not on what you're talking about. [reporters shouting questions] port port [inaudible] >> alex believed that. i'm willing to live with anything, john. i think you know me. i lived through things that you wouldn't believe. alex felt at that way and he also felt we're so good, we're doing so well, the economy, the stock market just hit the
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highest point yesterday in the history of our country. our unemployment numbers are the best they have ever been. if you look at specifically certain groups, african-american, asian, hispanic, the best unemployment numbers in the history of our country, you know there are some good things. he didn't want to distract from that. i understand that 100%. reporter: did paul ryan present you -- [inaudible] >> what? reporter: did paul ryan resent you for making bad decisions? >> so paul ryan was not a talent. he wasn't a leader. when the people in freedom and great congressman wanted to go after the dems for things that they did very badly he wouldn't give subpoenas whereas nancy pelosi hands them out like they are cookies. paul ryan was a lame doubling a
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long time as speaker. he was unable to raise money. he lost control of the house. the only success paul ryan had was the time that he was with me because we got taxes cut, i got regulation cuts. i did that mostly without him but for paul ryan to be complain something pretty amazing. i remember a day in wisconsin, a state that i won, where i stood up and made a speech. then i introduced him and they booed him off the stage, 10,000 people. for him to be going out and opening his mouth is pretty incredible. maybe he gets paid for that, who knows. maybe he gets paid for that. reporter: [inaudible]. >> so people come into our country illegally. we're taking them owl legally, very simple. it is not something i like doing, but keep come into our country illegally. we're focused on criminals. we're focused on if you look at
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ms-13 but when people come into our country, we take the people out, we take them out very legally. they all have papers. it's a process. i have an obligation to do it. they came in illegally, they go out legally. what the democrats should be doing now is they should be changing the loopholes. they should be changing asylum. i've been talking to you about this for a long time. they should be changing asylum. there are some things. now let me give you the good news. mexico has done an outstanding job so far. if you look at the border, it is down 30%. that is only one week inclusive where they have gotten it together. the june numbers just came out. it is down, looks like it will end up a little above 30% down. it is going to be down more and more. they have 21,000, and i say 21,000 mexican soldiers on the
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borders. both their so you were border and our southern border. we really have it in control. the problem is, we have a big problem. the laws are so bad. the democrats have to help us fix the immigration laws. but even with that, because of the job that mexico is doing, and yes, they maybe did it because of tariffs but they're doing a great job. i appreciate it. [reporters shouting questions] reporter: [inaudible]. >> no, no, who said that? reporter: [inaudible] >> anything you do the democrats will say is not good. in the meantime, they had a disaster. they have these laws that are so bad, catch-and-release, you look at different laws. stuart: visa lottery, that was a chuck schumer law, a disaster. a lottery you pick them out. the democrats have caused tremendous problems. what they have let china get
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away with for years and years, china has been ripping us off. they're not ripping us off anymore. right now companies are fleeing china because of the tariffs and right now we're taking in billions of dollars. by the way, our people are not paying for it. they're paying for it. they're paying for it by depressing their currency and they're putting a lot of money. look, nobody has ever done what i have done with china. that's fine. we'll get along with china. but you know when i see a guy like biden who is weak and ineffective, everybody that knows him knows, he is a weak man. he is an ineffective man. president xi laughs at guys like that. with that being said i would say this, president xi, putin, all of these guys go to bed at night and they pray that joe biden or somebody like him becomes president so they can continue to rip off our country. [reporters shouting questions]
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reporter: [inaudible] >> no, i had no idea. i had no idea. i haven't spoken to him 78, many years, but i did have -- reporter: secretary acosta, now at that you're -- [inaudible] >> i have already, i have already talked about the epstein matter. i gave a press conference, according to the media was longer than any other cabinet official in this administration. i will reiterate i said previously. my point here today, we have an amazing economy. we have unemployment lower than we have seen literally in my lifetime. the focus needs to be on this economy and on job creation. on decrease of fatalities in the workplace, mining, going forward, that is where this administration needs to focus, not on this matter. [reporters shouting questions]
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reporter: [inaudible] >> we are looking into it. the platforms are absolutely in my opinion 100% crooked. they discriminate against republicans and conservatives. they are 100% dishonest. that is my opinion. something is going to be done but i can tell you from personal experience, i see it. i had something happen this morning. i won't tell you about it yet but these platforms are 100%, they're 100% dishonest. reporter: [inaudible] >> i was not a fan of jeffrey epstein and you watched people yesterday saying that i threw him out of a club. i didn't want anything to do with him. that was many, many years ago. it shows you one thing, that i have good taste, okay?
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now other people, they went all over with him, they went to his island, they went all over the place. he was very well-known in palm beach. his island, whatever his island was, whatever it is i was never there, find out people that to the island but jeffrey epstein was not somebody that i respected. i threw him out. in fact i think the great james patterson, who is a member of mar-a-lago made a statement yesterday that many years ago i threw him out. i'm not a fan of jeffrey epstein reporter: [inaudible]. >> yes, yes. what? you know what? they came in illegally. they have to go out. we have millions of people standing in line waiting to become citizens of this country. they have taken tests. they have studied. they have learned english. they have done so much. they have been waiting seven,
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eight, nine years. we have some waiting 10 years to come in. it is not fair somebody walks across the line, now they become citizens of the united states. reporter: [inaudible]. >> well i wish the british ambassador well. some people just told me, too bad, but they said he actually said very good things about me. he was sort of referring to other people, and i guess quoted lindsey graham, he said things pretty nice from the british ambassador. look, i wish the british ambassador well but they have got to stop their leaking problems here, just like they have to stop them in our country. reporter: [inaudible]. >> i would not giving warning. we're not giving warning. there is nothing to be secret b can he tell you what? there is nothing to be secret about. i.c.e. is law enforcement. they are great patriots. they have a tough job. nothing to be secret about. if the word gets out it gets out
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because hundreds of people know about it. it's a major operation. so if the word gets out it gets out. it starts on sunday and they will take people out and bring them back to their countries or they will take criminals out, put them in prison, or put them in prison in the countries they came from. we're focus the on criminals as much as we can before we do anything else. reporter: [inaudible] >> for instance, ms-13, very important, we're taking them out by the thousands. we've already been taking -- we didn't stop this. we have been taking criminals out for the last year. these people have been here for many years, ms-13. we're taking them out by the thousands. we're getting them out. reporter: [inaudible] >> i think we'll have it in the end where it will be actually more accurate than the census because we have information,
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gotten through other means, whether you look at social security or other places, we have including loan applications. we have information that is probably more accurate than the information we could get by going in asking somebody are you a citizen. a lot of people are not going to tell the truth. reporter: [inaudible]. >> no. no. not only didn't i back down, i backed up, anybody else would have given this up a long time ago. the problem is we had three very unfriendly courts. they were judges that weren't exactly in love with this whole thing and they were wrong but it would have taken a long time to get through those courts. you understand that better than anybody, john, would have taken a long time, john, back up to the supreme court. so i asked, is there another way? and somebody said there is a way that might be better. it might be more accurate. they explained it. then what are we wasting time.
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we'll be in court the next two years. what are we wasting time? by law we have to have printing done. the printing is started, we're already finding out who the citizens are, who they are not, i think more accurately. he when i heard this i said i think i that is actually better. i think what we're doing is actually better, only the fake news which there is plenty, no -- [inaudible] [reporters shouting questions] reporter: [inaudible]. are you worried at law enforcement putting them at risk? >> these are great professionals. these are people that have done this for a long time. we're really looking for criminals as much as we can. we're trying to find the criminal population. which is coming in into country over the last 10 years. we know who they are too. we've been taking them out by the thousands, specifically gang members from ms-13 and other
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gangs. we've been taking them out by the thousands. so we are really specifically looking for bad players but we're also looking for people that came into our country not through a process. they just walked over a line. they have to leave. reporter: [inaudible] >> some do. some do. the mayors in sanctuary cities like a mayor like de blasio who is probably the worst mayor in the country from new york, i don't even know what his attitude is, nobody does, because he doesn't work very hard. nobody knows what the hell he does. a guy like de blasio probably wouldn't want the raid but many mayors do. most mayors do. you know why? they don't want to have crimes in their cities or states. reporter: [inaudible] stuart: forgive me interrupting
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president here. i have got news. it is not affecting the market, but it is very important news, the mueller hearing has been postponed one week. it was supposed to be next wednesday. it is going to be july 24th, postponed for one week. no impact on the market. that is a political development of some significance. back to the president. >> wait, wait. for 44 years, we're looking at that. for 44 years they tried to get veterans choice. i got it. nobody else could have gotten it. [reporters shouting questions] >> okay. go ahead. reporter: [inaudible]. >> say it? reporter: [inaudible]. >> well i think, how many bites at the apple do you get? we've gone through 500 witnesses, 2500 subpoenas. i have let them interview my lawyers.
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i let them -- because i had nothing to do with russia. that has come out. there was no collusion. how many, how many people, how many times, this has been going on for 2 1/2 years. rush limbaugh said there is nobody es in the world that he knows could have taken it. on top of taking it, i've been a great president. i've done more, listen, listen, i done more in 2 1/2 years than any other president. nobody is even close. including we just said, veterans choice and all of the other things i've gotten. but for 2 1/2 years, so now they have mueller go make a speech. that goes. now they want to have him again. they want again and again and again because they want to hurt the president for the elections because i see what i'm running against. you got "sleepy" joe biden. he doesn't have the energy to be president. and the people that are nipping on his heels, they don't have what it takes. i can tell you that china, russia, and i've been rougher on
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russia than any president in the last 50 years. china, and russia, and try north korea where i have a relationship. you don't have a man testing nuclear anymore. you have a man -- wait, wait. you have a man that was so happy to see me, that is a good thing, not a bad thing. you have a man that doesn't smile a lot. but when he saw me smiled. he was happy. you have a man that, when i came into office all he was doing before under obama was testing nuclear weapons and blowing up mountains. and now he is not doing it. reporter: [inaudible]. >> there is nothing he can say. he has written a report. the report said no collusion and it said effective no obstruction, because there is no obstruction. and the other thing is very interesting, so they find out there is no collusion. the whole thing is about collusion. so they find out there is no collusion. now actually it was different.
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it was bad crimes committed by the other side. we'll find out about that. i'm sure that is looked at right now. so, so, there is no collusion and there is no obstruction. now we have a great attorney general now. he is strong and he is smart. and he read it and he studied it along with rod rosenstein, who worked it from the beginning and rod rosenstein and bill barr said there's no obstruction. that is also interesting. number one, there is no crime. how do you obstruct when there is no crime? also take a look at one other thing. it is a thing called article 2. nobody ever mentions article 2. it gives me all these rights at a level nobody has ever seen before. we don't even talk about article 2. so, they ruled no collusion, no obstruction, very simple. [report earth shouting questions
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>> you can only get some bites at the apple. we have to get on to running a country. you have immigration, infrastructure, drug prices. the democrats are not working. all they're doing is trying to hurt people like alex acosta. a man who is has done, a man, i have no idea. are you democrat? >> i'm not, no. >> i have no idea. you know what i know? you know what i know about alex? he was a great student at harvard. he his hispanic which i so admire. maybe it was a little tougher for him, maybe not. but he did an unbelievable job as the secretary of labor. that is what i know about him. i know one thing, he did a great job. and until this came up there was never an ounce of problem with this very good man. go ahead. >> let me just add, let me, let
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me just add, you know, i hear a lot about how individuals got jobs and whatnot. before our interview, we had negative met, we had never talked. the president selected me as it should be done. it wasn't that we knew each other. not that we had a long-standing relationship. i think that is a testament to his selection process. [reporters shouting questions] reporter: what do you make of infighting going on with democrats of congress, nancy pelosi, alexandria ocasio-cortez and the squad? >> i think cortez who kept amazon out of new york and they don't like her for that, thousands and thousands of jobs, i think cortez is being very disrespectful to somebody been there a long time. i deal with nancy pelosi a lot. we go back and forth. that is fine. but i think that a group of people is being very disrespectful to her.
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and you know what? i don't think that nancy can let that go on. a group of people that came, i don't know where they came from. i'm looking at this omar from minnesota. and if one-half of the things they're saying about her are true, she shouldn't even be in office but cortez should treat nancy pelosi with respect. she should not be doing what she is doing. i'll tell you something about nancy pelosi, that you know better than i do, she is not a racist, okay. she is not a racist. for them to call her a racist is a disgrace. reporter: [inaudible] >> very importantly today in a few hours, vice president pence and the head of homeland security are taking the press and congresspeople into detention centers.
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we're the ones that said they were crowded. they are crowded because we have a lot of people but they're in good shape. the reason is because the fake news "new york times" wrote phony stories. what border patrol is doing, they have become nurses, janitors, doctors and they're not trained for that. what they have done is so incredible. so they're touring detention centers. that was my idea. because i read a phony story of "the new york times" today or the other day about the detention centers, about the conditions. and i had people calling me up at the highest levels from border patrol and i.c.e., almost crying about that phony story. they never saw anything. they have phony sources. they don't even have sources. they write whatever they want. "the new york times" is a very dishonest newspaper. they write what they want. and what they do, is a tremendous disservice to this country. they are truly the enemy of the people, i'll tell you that.
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they are the enemy of the people. and what they wrote about the detention centers is unfair now, i believe it is going to be the center they wrote about, they're taking a tour. i would love to be there, i am going to ohio, to which is. i'll be going. i'll be going. but i've seen it. i've seen it. these centers are, i mean, to have ocasio to say they're drinking out of toilets. she made that up. that is a phony story. she made it up. these people, i'll tell you what, been i.c.e. and i've been with border patrol a lot, they love those people coming across the border. they love them. i have seen it. they have love them. reporter: [inaudible]. >> so one of the reasons the democrats don't want to have a census is because of the number of people in the united states
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for many years, you know for years you heard 11 million. it is far greater than that. but we'll find out, because i'm going to do something much more accurate than the way we, the way we did it in the census would never have been very accurate. what we're doing will be much more accurate. the wall is being built. the wall is being built. we had a couple of very good decisions. we had one bad decision. it is very tough. again paul ryan let us down. paul ryan was a terrible speaker. frankly he was a baby. he didn't know what the hell he was doing. the wallet us down. the in all fairness with, when we had both houses in the senate you need 60 votes. well we don't have 60 votes. we had 51 last time. now we have 53 because we won during the 18 election which nobody wants to say. so you understand, the wall is being built. we had one setback. we had one tremendous victory.
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i had a tremendous victory rarely covered by the press. two days ago i won the emoluments case. that was the biggest case of all. i won the emoluments case. people don't know my being president i lose billions of dollars. especially money i can't make, because i don't do deals. but i lose billions of dollars. another thing i get a salary of 400 or $450,000 a year. i don't think any other president ever gave it up. a lot of money. almost half a million dollars. i give it up. i don't think i ever seen anybody i say i give up my salary. i'm not looking for credit. i give up my salary. i get zero. you know what makes me happy? that we're doing a great job. and i want to thank alex acosta. he was a great, great secretary. [reporters shouting questions]
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reporter: about a iran, not the wall, update about iran? >> iran better be careful, they're treading on very dangerous territory. iran, if you're listening, you better be careful. reporter: [inaudible]. stuart: there you have it. president speaking to reporters before he jumped on to his plane, taking him off to wisconsin. you ask this president a question, he will answer it. so he got into a lot of different subjects. let's go through them real, real fast now. alex acosta, labor secretary, he will step down one week from today. the president made a point of saying you don't have to do this. you don't have to do this but he is a distraction, he is indeed stepping down. he said he was a good man who will be missed. next point, he says the social networks are crooked. something has got to be done. they are 100% dishonest.
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something is going to be done. that is president about the facebooks, twitters of this world. he was very critical of joe biden. says that he does not have the energy to be the president of the united states. he was very supportive of nancy pelosi. aoc had implied that nancy pelosi is a racist. the president didn't like that. he went, said categorically nancy pelosi is not a racist. didn't expect that from the president but he came right out with it there. the raids, the raids by the immigration department to get illegals out of the country, they will start in 10 cities on sunday. that will be 10 cities with 2,000 people. they will try to get them out. one other point from that news, i guess you could call it a news conference, a impromptu news conference, the mueller hearing has been postponed for one week. it will now be july the 24th, not next week. i don't know the reason for
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that. that was announced, i'm not sure, president addressed it. he simply said look, no collusion. no crime, therefore no obstruction. that is what you got to say. we're moments away from alexandria ocasio-cortez's testimony on capitol hill. she will be following up on her visit to a migrant detention center. she is a witness. she will be under oath. she is about to testify and she is going to be asked about well, do migrants really, are they forced to drink from toilets? are these facilities really cons tracks camps. -- concentration cams. she will have to defend them. that is what she said. brandon judd, border patrol council president is with us now. we're waiting for aoc's testimony. it will be pretty fiery, she will be pressed, pressed under oath to say yeah, what i said was true. go. >> i wish i could be there doing the questioning because i would point out to her immediately
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that if she says anything that is under oath it is not true, we'll be able to find out because the surveillance cameras we have in the facilities that she visited. i have a very, very hard time believing that what she said about what she saw has any credibility whatsoever. it just doesn't happen like she says. we do not force people to drink out of toilet. we are very quick to give all of the people in our custody as much care as we possibly can. stuart: now so far we've heard from republicans, we now have one democrat who is testifying, witnessing, i guess you could say, that is congresswoman escobar. when she has completed her testimony, it will pass to aoc, who you can just see on the right-hand side of your screen. so she is testifying next. brandon, i just want to make one point here. you said there are surveillance cameras inside of the detention facilities which she visited and they can tell us the real truth,
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is that true? >> that is absolutely correct. again i'm not going to deny or question that somebody might have told one of the detainees, detained females might have told escobar and aoc she was told she has to drink out of toilets. we have false allegations made against us over time. the fact if this did in fact happen there would be surveillance record of it. just because somebody makes a false allegation against our agents, doesn't mean it is true. escobar and aoc, they had a responsibility to try to verify and find out if in fact those allegations were true instead of just coming out saying, well she told us this, so it has to be true. false allegations are made on a daily basis. just because allegations are made does not make it true. stuart: i.c.e. raids begin sunday. speaker pelosi has been telling illegals how to avoid the i.c.e.
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people, don't let them in your house. what do you make of that? >> i agree with the president that speaker pelosi is not racist but what i will say is that speaker pelosi is absolutely helping people evade the law. she is helping people avoid the consequences after their due process has already run out. these individuals had the opportunity to go before the court systems, present their cases, judges did not find that they had a reason to stay in the united states, whether it was for asylum or any other reason, those judges ordered them deported, those individuals refused to leave. this is the proper step by the president. he needs to enforce the laws. he has to send that message across the world. otherwise the pelosis of the world will invite more people from everywhere around the world to come to our country illegally and that just can't happen. stuart: i want to make the point, brandon, there are 2000 people involved here, all of them have already had their day in court.
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they did not return after being told to leave our country. so this is legitimately backing up the rule of law. brandon judd, i want to thank you very much indeed. i will break it off now, i believe, aoc, alexandria ocasio-cortez is about to start her testimony. we'll go to that, we will go to that when we, when she starts to speak. i want to keep you up to speed on markets, none of what is happening on capitol hill had any effect on the market, the testimony about the detention facilities not affecting the market at all. nor did president trump's statement to reporters. he covered awide array of subjects. the market barely budged. we were up 140 points when we started. up 129, 130 points right now. no impact from that. this is a historic day for politics. i hate to see politics wipe it
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from the screen. susan: record for the dow jones industrials. 3,000 for the subpoena 500. this is the second record for the nasdaq under the trump presidency. 89th for the s&p, 88th for the dow. stuart: i'm interrupting here. i want to go back to brandon judd, i want to get to your article here. you have an opinion piece, maryland gives illegals benefits, other u.s. citizens not entitled to. one county in maryland, total free pass to illegals? is that right? explain it please. >> that is what is going on. this law enforcement official, top ranking law enforcement official in that county, he has decided he is not going to honor i.c.e. detainers. he decided he will give these individuals a pass. my question is, if he is going to give illegal aliens a pass, will he give united states citizens a pass for civil disobedience? will he say that the fines that the united states citizens have been given in his county, is he
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going to just completely, totally disregard those fines? if they don't show up to court, a warrant of arrest is issued because it's a civil offense, is he going to let the united states citizens go? he is creating a completely different class of people within his own jurisdiction. and that is absolutely crazy. i really hope that voting public in that -- stuart: sorry, brandon. a oc is before congress. about to speak. >> swearing in, but do you want to be sworn in. >> yes. >> all right. okay. do you, stand up, please. do you swear or affirm that the testimony you are about to give is the truth, the whole truth, and nothing but the truth, so help you god? >> i do. >> you may be seated. let the record reflect that miss ocasio-cortez answered in the
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affirmative. you may proceed. >> good morning, chairman cummings, ranking member jordan, distinguished members of this committee. when i was asked to testify today i frankly didn't know where to begin after our visit to the border. much has been made about the fact that we have said that this is a manufactured crisis. in many ways it is manufactured in that it is wholly unnecessary. it is unnecessary to separate children from their families. it is unnecessary to have a policy to detain innocent women and families that have harmed no person in our legally seeking asylum in the united states of america. it is unnecessary to have a policy that calls children unaccompanied when they arrive with older brothers, sisters, and grandparents, treat them no differently than human
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traffickers. and in speaking of trafficking, it is completely unnecessary for this administration to choose to emme plenty policies, metering, so-called remain in mexico policies that dump innocent people in dangerous territories, puts them in the cross-hairs of human traffickers ripe for picking. this is a manufactured crisis because cruelty, because the cruelty is manufactured. this is a manufactured crisis because there is no need for us to do this. there is no need for us to overcrowd and detain and under resource. there is no need for us to arrest innocent people and treat them no differently than criminals when they are pursuing their basic human rights. much has been made about cpb agent in this hearing as well. and, that this is not their fault. in some respects, in many respects i agree because it is a
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policy of the dehumanization implemented by this executive administration laid at the feet of stephen miller that creates a tinderbox of violence and dehumanization where hurt people, hurt people. i would like to seek unanimous consent to submit the records of names of 17 women i met during my trip to the border. i think one of the reasons, what has been spoken of is that there are two different universes, it feels like we're speaking in two different worlds. one of the reasons for that, i believe is because when i, when i and when we took our tour of the border one of the things we were told are we were not allowed to speak to the migrants. we were not allowed to have contact with them. we shouldn't. this was given for reasons of quote their safety or reasons for, or for the expediency of the tour.
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after we were asked to surrender our cell phones at the beginning of the tour, we went in, one of the cpb officers, after that morning, it being revealed by "propublica," i would also seek by while it was revealed by pro publica a secret facebook group, where cbp members were planning to harm or encouraging harm of myself and congresswoman escobar as well as mocking the deaths of migrant children. into that environment, we walked into this facility. we were asked to surrender our phones and be guarded by the people without a guarantee that no one there was in that facebook group. we went in and one of the officers attempted to sneak a photograph, photograph of myself and other congressional members. at that point, we asked to enter one of the cells. we were allowed to speak to the
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women and these are the women that we spoke to. it's their handwriting and while we are being asked to speak only to officers, we are not getting the accounts of migrants, of their treatment, of what they are experiencing, so when these women tell me that they were put into a cell and that their sink was not working and we tested the sink ourselves, and the sink was not working and they were told to drink out of a toilet bowl, i believed them. i believed these women. i believed the cankor sores i saw in their mouths because they were only allowed to be fed unnutritious food. i believed them when they said they were sleeping on concrete floors for two months. i believed them. and what was worse about this, mr. chairman, was the fact that there were american flags hanging all over these facilities, that children being separated from their parents in front of an american flag, that
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women were being called these names under an american flag. we cannot allow for this. stuart: we are not sure exactly what has happened but there has been some kind of interruption on the side of the hall there. someone appears to be on the ground. why that person's on the ground, and who it is, i do not know. what happened, we don't know. but it has interrupted the testimony of alexandria ocasio-cortez. she has still not resumed, as
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you can see. at the very moment when this incident occurred, she was extremely emotional. i thought she was on the verge of real tears. i didn't see that. she did not burst into tears. then the incident occurred. whatever has happened on the floor there is now being removed and i think momentarily -- the chairman cummings is saying -- cummings has just said the person will be okay. i think we're now about to resume the testimony of aoc. >> we will give you a minute to wrap it up. >> thank you, mr. chairman. i know my time was wrapping up at that time. again, we have to be sure that over and over again, we spoke to these folks, whether it was agents, whether it was hhs officials, oftentimes because the thing that we need most is
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not resources. we need policy change. we need to change our metering policies. we need to change our detention policies. we need to change our policies on who we call unaccompanied. and that is one of the key areas in addition to changing our policy on foreign affairs, on investment, on being an equal partner in latin america and the western hemisphere. thank you very much. >> thank you very much. miss tlaib, again, i want to thank you. stuart: the much-anticipated testimony there of alexandria ocasio-cortez, telling what she saw, what she heard, when she visited those detention centers on the border. remember, please, she had called those detention centers like concentration camps. that's her word, to the shock of many, many people. today, she was testifying what she saw, what she heard and backing it up. she says it was wrong to detain
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people who are simply asking for asylum. there is no need to detain, she said. she said that she had spoken to 17 women who had told her that a sink was blocked, that they therefore had to drink out of a toilet. that was i guess in legal terms, that's hearsay. they were only allowed to be fed unnutritious food. that is the expression used by alexandria ocasio-cortez. she wrapped it up by saying we need to change our detention policy. that was the gist of her remarks. okay. what else do we have here? we've got more breaking news and here it is. it's about the debt ceiling, of all things. edward lawrence, what have we got? reporter: yeah, stu. the treasury secretary steven mnuchin sent a letter to house speaker nancy pelosi saying the u.s. government will be out of money, by their projection, in early september. now, here is the letter that he sent. reading from this letter, it's a
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very short one but very to-the-point here. it says since there is a reasonable uncertainty in projecting government cash flows, it is impossible to identify precisely how long extraordinary measures will last. we modeled various scenarios for our cash projections. based on updated projections, there is a scenario in which we run out of cash in early september, before congress reconvenes. now, this is the treasury secretary notifying the house speaker that they probably have to deal with the debt ceiling before they go on their break in august. this is something that federal reserve chairman jerome powell testified to yesterday, saying this is part of the uncertainty that he is looking at for the economy going forward. stu? stuart: all right, edward. i've got the gist of that. thanks very much indeed. i will repeat that. it's not had any impact on the market. the treasury secretary mnuchin, let me make sure i've got this right, said we run out of cash in early september, we run out of cash before congress gets back from its august recess, so deal with it before you get out
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there on the august recess. i think i got it right? reporter: that is exactly what he is saying. stuart: okay. reporter: congress is on notice. stuart: thank you. that's a good expression. good man. thank you very much indeed. as we said, that's not had any impact on the market, although it is just breaking. the world is now learning that we are running out of cash in early september. deal with it before they go on recess in august. we now have a gain for the dow industrials of 120 points. it's a big day. we've had a very long news conference, given by the president, in which he touched on all kinds of different subjects. then we've had the testimony of aoc, what she saw at the border. frankly, i think the most important story of the day is the one on your screens right now. the extraordinary gain for the stock market yet again. you know when you're dealing with a stock market rally, there's one guy you really need to have and he's sitting right next to me. he scrambled down from the 20th floor. he's with me now. charles payne.
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look, we're up 120 points, 27,200. everybody is asking me the same question. can we go up from here. answer the question. charles: i think the answer is absolutely yes. yesterday i showed a chart of the nasdaq and showed the last two times we broke out from new highs, you know, in other words, through a triple top, and 2012, we made a breakout and back then, the chorus was don't chase this market. well, if you didn't chase it, the nasdaq itself was up over 160% since then. 2016, same thing. we broke out to new all-time highs. the chorus of folks, you don't want to chase it. here's the problem. here's the real problem. people watch this, procrastinators have procrastinated a decade of rallies, you know. people just simply don't buy bottoms. people, if you are uncomfortable buying this market now, what makes you think if the dow is off 2,000 points you will go in
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and buy? you're not. if you're looking for long-term gains, long-term prosperity, i think you got to, you know, you can be selective. we know what the winners are. i do appreciate the fact that this is a broader rally, about 470 stocks are up this year, but we know the big winners in our society right now and they don't have a lot of competition. stuart: the people in our audience, i don't think there's that many people who are in and out of a stock. charles: i agree. stuart: they're not traders in and out. they buy this morning and sell this afternoon. the viewers of this program are in it for the long term. charles: i will say, dealing with investors on a day-to-day basis, there are points of anxiety. so may, for instance, was a terrible month. a lot of people sold because of anxiety. that's what you have to be careful of. these anxious moments where you may want to sell and regret it 30 days later. stuart: no idea how many anxious moments i've had in the last 45 years. charles: i thought you were going to say 45 minutes but we get you. stuart: we were trying to cover
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all this news. the president, aoc, the market, mueller delayed for a week. it's great stuff. charles: it really is. can't wait for my show at 2:00. stuart: that's right. 2:00. i shall be there. good luck, charles. now, drama on capitol hill. aoc, alexandria ocasio-cortez, has just testified. look who's here to cover this. lisa booth is with us. you know, she was very emotional. i think you saw it. i think she really, tlaib is in tears right now. rashida tlaib, another one of the four, the squad, she's emotional right now describing what she saw at the border. they're really talking about -- you want to go to them? okay. hold on. sorry. let's listen to this. >> the separation policy isn't working, he said. he knew about the separation policy that he was enacting. cbp morale is one of the lowest among law enforcement agencies, mr. chairman, since between 2017
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and 2018, we had a high of 100 agents committing suicide. that needs to be put in record. the dehumanization is not only with those families but also with the agents that we've had -- told to do this to these families. thank you, mr. chairman. >> thank you. thank you very much. thank you very much. stuart: appearance by rashida tlaib and also alexandria ocasio-cortez. ayanna pressley is about to testify about what she saw. lisa booth is with me. look, i see this as a flat laying out of an open borders policy. aoc doesn't want any detention, no detention at all. >> she doesn't, and we have even had people like jeh johnson who worked for president obama say that's an untenable position to have, that we don't want catch and release. that's not something this country wants. he also said look, the system is completely overwhelmed. he said i cannot fathom seeing 4,000 apprehensions in one single day.
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the trump administration as well as immigration officials have been saying for awhile now that they are overwhelmed, the system is overwhelmed, they need help, they need congress to address the underlying issues and my frustration with someone like alexandria ocasio-cortez is of course if you go and see the conditions at some of these facilities, it probably breaks your heart but she isn't doing anything about it. and in fact, she has voted against the aid to help a lot of these people. one thing that you are not hearing from these democrats, part of the reason we have seen children separated from adults that they have been accompanied with is because it's not their parent or that individual is a criminal. that is a problem that we are seeing along the southern border, the fact that these cartels, this is a billion dollar industry for these cartels, human smuggling, we have seen stories of people coming across the border, paying for children to use because they know that it is easier to get across the border if you are part of a quote unquote, family unit. stuart: 30 seconds. i don't think that an open borders policy, no matter how emotional you are in putting it
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forward, i don't think that works for the american voter. you? >> what's the point of having a country, then, if we don't have borders and don't have laws? they are advocating for a completely lawless system. also, we already have 22 million illegal immigrants living among us. nobody can figure out what to do with those people in congress and you want to add to the problem, making it even more complicated and difficult? further, you need to know who is living in our country and who is not. stuart: lisa, i'm sorry it's so short. thank you for taking time. we appreciate you being here. thanks very much. all right. total change of subject. why not? let's lower the temperature a little bit, shall we? look at this. that's not lowering the temperature. great video from the coast guard. they intercepted, wait for it, a submarine loaded with tons of cocaine heading towards us, america. we will tell you what happened. robocalls, we all get them, we all hate them. i think most of us do. what's the government going to do to actually flat-out stop it?
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s.e.c. chairman ajit pai with us this hour. i will ask him. we'll be right back. is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪
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stuart: it's getting real bad at cnn. the viewers are fleeing in droves. i'm a founder of that network and i'm not happy. this spring, cnn's ratings fell off a cliff. they're getting fewer than half the viewers that tune in to fox news and in prime time, that's 8:00 to 11:00 p.m., they get less than a third. during this ratings period, the mueller report came out. joe biden geared up his campaign. a dozen candidates announced. that's cnn's democrat turf, so why did the ratings plunge? answer, cnn is hate trump 24/7 and america is not buying it.
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i have tv monitors in my studio and i check out what they're covering. it is so predictable. every single news event is skewed to show contempt for the president, every single one, no matter what it is. and in prime time, it's downright insulting. at 10:00, don lemon goes out of his way to be personally nasty about our president. his ratings have really fallen off a cliff. it wasn't always like this. cnn went on the air on june 1st, 1980. i was there. so was my colleague, lou dobbs. back then we played it straight. we covered the news. but in the mid '90s, the network changed direction. cnn became the clinton news network. bill could do no wrong. by the time 2016 election rolled around, the entire network was gung ho for hillary. she could do no wrong. when she lost it was almost comical. check it out on youtube.
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their election night anchors went into mourning, apoplectic with grief. the hate trump coverage then began in earnest. don't expect anything to change. cnn has signed most of its hate trump people to contracts extending beyond the 2020 election, and in the debates at the end of this month, guess who is one of the moderators? don lemon. the man who has questioned the president's sanity and calls him a racist. gee, i thought journalists asked the questions. there's a bottom line here and it's this. cnn, along with the establishment media, and much of the democrat party, has to be overwhelmed with pure hatred of president trump. it is a self-inflicted wound. >> first you had the classic covfefe. that stands alone. then you had smocking gun. toi typo? he did it twice in the same tweet. a great speller? i don't think i can give him
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that. i just don't think i can give it to him. >> it's not an excuse that he says that oh, we put it out there when he misspelled. he's the president of the united states. get it right. >> he is very good at blaming others for things that he does. and this spelling thing has got to be on him. stuart: oh, that's just a tiny taste of the anti-trump network that i mentioned moments ago. they get a lot worse than that. they are in crisis mode. that's cnn. come in, jack kingston. he's a former georgia congressman and former cnn contributor. did they fire you? >> pretty much, stuart. what happened, i had a two-year contract, was very proud of it because i want to say as a georgia boy, i was very happy when cnn started back in the days that you were there. we were tired of dan rather and sam donaldson. you guys were pure news. that's what cnn built its brand on. but this year, i saw over and over again as i worked with them that it was all about trump, it was all about trump hatred, and what they basically did on my
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contract was non-renew it and they wanted to replace people like me and jason miller or stephen moore with republicans who hate trump. so we were pushed exit stage right, i guess you would say, and replaced by people who would say oh, yeah, no, i totally disagree with donald trump. some of them aren't even republicans. stuart: do you think it's going to change at all? i mean, look, the ratings are in the tank. they are way down there. ratings are important, whether you like it or not. are they still not going to change? >> i don't think so. i think it's become a left wing opinion platform as opposed to a news channel, which is what it started out being. you know, unfortunately, they were wrong so much. that was to me one of the ironies and the disappointments. night after night being on these shows and hearing the commentators and contributors saying i have inside information, the shoe is about to drop, next week you will see a bombshell that's going to wipe
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out the entire trump administration, and they were wrong time and time again. but all of them are still working at cnn while all the rest of us are out. so i don't think there's going to be any changes. stuart: sir, thanks very much for joining us. sorry about that contract. >> well, thanks, stuart. it's great to be back on fox again. stuart: you're back and you're here. thanks very much indeed. appreciate it. see you soon. this is a very busy day. we have had all kinds of things happening. we will bring you some sports history a little later in the show. at auction, for auction, michael jordan's first ever chicago bulls jersey. it's not going to come cheap. this thing could cost, fetch, i should say, a quarter million dollars. we've got that jersey, it's on the set. we will show it to you shortly. we are tracking tropical storm barry, moving up the gulf of mexico. could slam new orleans this weekend. we will go to the fox weather center for the latest forecast and do that after this. ♪
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stuart: moments ago, we witnessed the emotional
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testimony of alexandria ocasio-cortez, seen on the left-hand side of your screen. she gave way to rashida tlaib, who also gave an emotional testimony about their visits to the detention centers at the border, which they have described as concentration camps. that panel involving rashida tlaib and aoc, that has now been dismissed. a second panel is now being convened and they are officials from the department of human services -- the department of homeland security and health and human services. they will be on the hot seat, and aoc will be asking them questions, although she didn't have to answer any questions at all. okay. so that's still going on on capitol hill. elsewhere, another huge story here. the gulf coast preparing for maybe the first hurricane of the year. it's now actually a tropical storm called barry. it's set to make landfall later tonight into early tomorrow morning. fox news meteorologist is with
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us. rick, this seems to me, look, i'm not in the weather business but you are, seems that the big threat seems to be rain, lots of it. is that right? >> yeah. that's totally it. and that rain is a big threat because of the rain that's already in place from a really wet or snowy winter and really wet spring. this right here, stuart, is the mississippi river watershed. basically any drop of rain that falls in this area, it's either going to absorb into the ground, evaporate into the air or run into one of these rivers that eventually exits out at the mouth of the mississippi river, which is just to the southeast of new orleans. because of the flooding that we saw this year which was historic all over the place, from nebraska, illinois, you know, anywhere south, kansas, we've got flooding going on across the mississippi river currently that has nothing to do with the storm that's coming. now we've got a storm that's on its way. it's not super well-organized but it's going to bring a lot of rain and some storm surge. the mississippi river is at 16
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feet level in new orleans and the levees are at 20 feet. so only about four feet of space there. we are going to see a storm surge that's going to come on in and rainfall totals that are going to be somewhere around the 10 to 20 inch range. that's going to be somewhere between new orleans and baton rouge. that's our big concern with this storm. hopefully, that rain will not be that strong but we need to certainly project just in case it is. stuart: thank you very much indeed. now, check the big board. we are all about money on this program. we are up 138 points, a half percentage point for the dow industrials. big number, $10 trillion. that's how much the value of all stocks has gone up since president trump took office and won the election. so why doesn't he get more credit for the booming economy? well, we will get into that one for you. back in a moment. ♪ so are you feeling?
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how about this for that number. i'm going the repeat this number. $10 trillion on your screen, that's the wilshire 5,000. that's the value of all stocks traded in america, up $10 trillion since the day president trump was elected november 2016. market watcher heather zumarraga is with us now. look, i think this is the trump economy. i think it is the trump rally. but i don't see him getting much credit for it. i think he deserves the credit. you agree with me? >> i agree that president trump deserves credit for the economy. definitely for the stock market, because he's pushing policies of deregulation and tax cuts and when you cut that red tape for small businesses, and get rid of unnecessary regulation, that is what is causing the stock market to soar right now. stuart: do you think it can go higher from here? i mean, at this moment, we're at all-time highs, s&p, dow, nasdaq
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is close to the high. would you think that we could actually go higher from here? >> yeah, i do. i think it might be hard for the average investor to fathom a repeat of the stunning first half of this year, the stock market performance that we've had, but the second half may be even stronger because of the economy. stuart: whoa. whoa, heather, come on. >> i've always been a bull. you know. stuart: really a fantastic first half. i don't know the percentage we're up, but we are up. we can do better than that in the next six months, really? >> well, look, there are two wild cards of the china trade situation as well as geopolitical tensions in iran, for example, but even with the chinese trade situation, tariffs are currently on pause and we have a fed chair that is willing and wanting to keep the expansion going. stuart: what about profits? they start reporting profits next week and the week after. those have got to be strong reports if you want to push the market higher, right? >> you're right.
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i think they will be stronger than the second quarter, definitely think that q2 earnings reports will be a big indicator of where the market is headed. stuart: we can't wait. heather, thanks for joining us on a very busy day. i'm sure you're busy. thanks for being with us briefly. thank you. president trump heading to milwaukee, wisconsin. he will be touring an aerospace facility owned by lockheed martin. he will be speaking there early afternoon. jeff flock is there, waiting for him. jeff, this has got to be an economy speech, right? reporter: you know, the president has done a whole lot better lately at pointing out just how much success he's had with the economy, in the face of this loss yesterday of the bid to get the census question on the citizenship question on, talk about the economy, his folks say. that's what he's going to do today. this is derco aerospace. they take care of military cargo planes. this is an important state. he won this state by a scant 22,000 votes in 2016, less than
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1%. this is the sixth time he will visit since his election. we know how important all of that is. you talk about the economy, you talk about this all the time but it's worth putting the numbers up, how well the dow has done, how well the nasdaq has done since the president was elected. even here in wisconsin, which was doing well economically, even before the president took office, 3.8% unemployment, it's now down to 2.8%. pretty soon, you know, everybody's going to have a job, pretty much they already do. i will leave you with this point. this was one of those blue wall states. pennsylvania, michigan and wisconsin, that the democrats said, you know, that was their wall. well, it collapsed for them and i think this is one time you're going to hear democrats say let's rebuild that wall. stuart: that's a very good line. i'm going to steal it from you. that's just the way i am. jeff flock right there in milwaukee. thanks very much. see you soon. reporter: sincerest form of
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flattery. stuart: i want to bring in cassie smedley, rnc deputy communications director. i don't think you're getting the message out about the strong economy and the very strong market. what are you going to do about it? >> well, we appreciate your efforts but you're right. when your peers are spending 93% of their time on negative news about the president, it is hard to break through so we look for these unfiltered moments. you saw it today with the press conference. you just mentioned the great event in milwaukee where undoubtedly the president will talk about this great economy, and then for us at the rnc, we focus on a neighbor to neighbor model. you will hear a lot more talking about your 401(k) with your neighbor and for 35 million americans who do have 401(k)s, they are benefiting greatly from this economy and we are trying to empower our volunteers to have those conversation. that's really where the message will be delivered. that's really where we will get people to vote for president trump next year. stuart: you really got a jump on this. as i understand it, 55 million americans have a 401(k).
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most of them invest in stocks. i think it's another 35 million who have got an i.r.a., most of it invested in stocks. that's tens of millions of people doing very well indeed. i want to talk to you about labor secretary alex acosta. as you know, he's stepping down one week from today. leaving his position. watch this. >> alex acosta was a great secretary of labor. what he's done with plans and you see the plans coming one after another, you're just about done with the 401(k), things that nobody would even think of, so it's very sad but at the same time, he wants to focus to be on accomplishments not just -- stuart: this resignation is all about jeffrey epstein but i want to know what about the money that epstein gave to leading democrats, chuck schumer, john kerry, hillary clinton, bill clinton. he gave them money. what's going to happen to that
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money? they have to give it back now? >> isn't it interesting that that's been left out of the narrative much of this week since epstein was back on the radar. i'm so glad you are bringing up that point. it is a question that they should be asked if you can find anybody in the mainstream media to ask it, that is. but getting back to what the president said today and what secretary acosta said, we got to talk about the economy because they're not going to talk about it for us. that's why he brought them out here today. he's clearly done a great job, the president agrees with that, and it seems like the president is at least on message today going into milwaukee to say let's keep the focus where it belongs and make sure people know the good things that are happening as a result of the work of this administration. stuart: i do want to point out that senator schumer has said he will give the money he got from epstein to a charity that fights human trafficking. let's straighten that one out. as you may have seen, earlier, aoc testified on capitol hill. she became quite emotional, talking about conditions at the detention facilities on the border. watch this, please.
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>> this is a manufactured crisis because cruelty, because the cruelty is manufactured. this is a manufactured crisis because there is no need for us to do this. there's no need for us to overcrowd and to detain and underresource. there is no need for us to arrest innocent people and treat them no differently than criminals when they are pursuing their basic human rights. stuart: okay. that sounds to me like an open borders policy, but what do you make of it? >> i think aoc has some manufactured sympathy because when she's had the opportunity to do something about it, to not only help solve the border crisis but from a humanitarian perspective, work to make sure people are getting the care that they need when they come into our country, she voted against it. so she was really upset with the speaker of the house but she still voted against it. i think people see right through her. but i would point out who has
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been talking about wanting to solve this crisis, help people here both legally but then also people coming across our border? president trump. that is the clear message. if aoc was sincere in her tears, she would be working with president trump to resolve it. stuart: thanks for being with us. appreciate it. president trump took on facebook and cryptocurrencies in a series of tweets yesterday. deirdre bolton has more on the president's i guess dislike of the libra and bitcoin and all the rest. deirdre: crypto critic. take a look at some of the tweets, we can show them to our viewers. i'm not a fan of bitcoin or other cryptocurrencies, not money whose value is highly volatile and based on thin air. we can scroll through as well and essentially he's saying listen, there's one true currency, it's the u.s. dollar, it's dominant and dependable and he called out libra as being unreliable at the moment. listen, at the end of the day, this has a lot of regulation.
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we heard jay powell, fed chairman, talking about this in front of congress saying this project for facebook is not 12 months away. it's going to take a lot longer than that. i think facebook knows this. i think that's why you heard from c.o.o. sheryl sandberg saying we want all regulators involved for a long time. going to be an uphill slog for facebook. doesn't mean it's not worth it. stuart: the president said about this libra currency, you want to start a bank, get a bank charter. deirdre: that's right. that's right. and be subject to the same regulations. stuart: something completely different. we are all over the place today but it's all happening. a dairy queen employee out of a job after she made the cake you see on your screen. the customer asked for a milana theme cake and the employee thought she said marijuana. cracking down on the pesky robocalls. is there anything that can be done to stop them completely? i'm going to ask. ♪ hi walter.
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it's a lot of money. lending tree, may the best loan win. stuart: it's no secret that i and a lot of other people just can't stand robocalls. they are a constant nuisance. i just want to stop them completely. let's see if our next guest can make that happen. come on in, please, fcc chair ajit pai. mr. chairman, you got a big smile on your face. you know what i'm going to ask. here goes. no matter what phone i've got, no matter what plan, no matter what carrier, can you tell me that you will stop these robocalls dead? kill them dead? will you do it? >> we are doing everything we can to make that result happen, and i can tell you it's something that drivers consumers across the country crazy, drives me crazy. i get them all the time. my mom gets them all the time. we need to stop the scourge of civilization, as it's been
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called. that's exactly what we have been trying to do the last two years. stuart: the problem seems to me as soon as you come up with one way of killing them, it's like whack-a-mole. it pops up some place else and you have to fix that problem. that's what it's like, isn't it? >> it is, but the good news is these scam artists i don't think are counting on a cop on the beat that is willing to take every mallet in the toolbox and start whacking. that's exactly what we have done by empowering carriers to block these robocalls by default by demanding carriers adopt caller i.d. authentication and by taking aggressive enforcement action. we want to make sure the consumers are protected and that means in part, getting some safety and some sanity when it comes to these smartphones. stuart: do you know if there is one primary company and one primary person who is putting out these billions of robocalls? do you know that name and that company? >> unfortunately, because of the way technology has been developed, pretty much anybody in the world with an internet connection and the desire to scam consumers can launch these
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robocalls. we have seen some call centers set up in foreign countries for the express purpose of sending these robocalls. that's part of the reason why i have been working with foreign counterparts from brazil to india to tell them if we find these call centers, we want you to take law enforcement action against them. it's all too easy to launch these robocalls. that's part of the reason why we were addressing very heavily the demand side so to speak, the people who are getting these calls, to try to empower them so that they don't get these calls anymore. stuart: okay. give me a time frame. when can i expect to see the number of robocalls coming to me and everybody else really come down? >> i can't give you a specific date, but what i can say is last month, the fcc empowered companies to block robocalls by default, which is something that has not happened before. additionally, i demanded that the phone carriers adopt caller i.d. authentication by the end of this year. essentially, digital fingerprint for every single phone call. if they don't do that, we will take regulatory action to make sure they do. i would imagine over the next several months, as these services are being rolled out, as this framework is being
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implemented, we will see the number of robocalls start to go down and ultimately, consumers can reclaim a little bit of peace of mind when they hear that phone ring. stuart: see the smile, mr. chairman? see the smile? go get 'em. please. >> absolutely. stuart: great to have you on today. >> always a pleasure. stuart: thank you, sir. appreciate it. next case. more news from amazon. their prime days, plural, start monday, go to monday and tuesday. wait a minute, deirdre bolton. they are working on a robot in your home? deirdre: they sure are. you know the echo device very well and of course, it had scandals maybe listening to people while it shouldn't. the idea is put an echo device on wheels, call it a vesta and it follows you around your home, for example, for all the places, i know you don't have one, where people don't have an echo, say you are listening to music or a podcast, you want this thing to follow you around. they say they will improve the quality of the speakers. i want to point out, this echo
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device has more than 60% share in the u.s. they really have this huge footprint. sonos 1 has great sound so music lovers tend to buy that. apple home pod, not so successful. google has home max. bottom line, it can follow you if you want. stuart: know what i think? i think these home devices will be in everybody's home, we've all got to get used to it. that really is the future. deirdre: it is the future. but i'm with you on a -- stuart: i don't like it. got to accept it. thank you very much. now, sports fans, attention, please. a pair of baseball gloves that helped the chicago cubs win the series in '16, they could be yours because they are up for auction. they might go for $750,000. we've got them on the set, along with a lot of other good stuff. after this. ♪
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but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar. hey! i live on my own now! i've got xfinity, because i like to live life in the fast lane. unlike my parents. you rambling about xfinity again? you're so cute when you get excited... anyways... i've got their app right here, i can troubleshoot. i can schedule a time for them to call me back, it's great! you have our number programmed in? ya i don't even know your phone anymore... excuse me?! what?
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i don't know your phone number. aw well. he doesn't know our phone number! you have our fax number, obviously... today's xfinity service. simple. easy. awesome. i'll pass.
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stuart: i think you could say that the disney movie mowana sounds a little like marijuana. it does. well, a georgia dairy queen employee thought it sounded alike and she -- that led to a very awkward cake.
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deirdre: awkward. she lost her job over this. but it's worth pointing out in fairness to this employee, she said she had worked there for a year, did not have one problem at all. she misunderstood the lady on the phone. the mom, obviously, this is for a small girl, honestly went bananas when she saw the cake. but the employee had actually gone to the manager and said is it okay if i make this cake because they had to google that marijuana symbol. manager said fine. the manager even brought the cake out. but because this customer was so up at arms, this poor woman was fired. what i do want to say is another dairy queen, not the same one, another one near that town did offer this lady another job and i think this lady is so offended, she just said forget it. stuart: you know what's going to happen here? the dairy queen employee will go the a different dairy queen and make a franchise out of marijuana cakes. deirdre: the entrepreneurial thinking at work. stuart: that pony was smoking a joint, i do declare. deirdre: exactly. stuart: all right. i want to end the week with some
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big ticket sports items. ken golden is back. he's on set today. he's with golden auctions. he's brought with him some extraordinary stuff, as he always does. okay. let's get at it. first of all, these two gloves, right there, a black one and a brown one, okay, what's so special about them? >> okay. these are the gloves that anthony rizzo and chris bryant wore for the final out of the 2016 cubs world series. so you have the put-out by the first baseman rizzo -- stuart: can i pick them up? >> absolutely. that's rizzo. that held the final out. it's national news. i predicted the baseball itself, the final out ball, would be worth over -- he's a left-hander. stuart: thank you. my producer is all over me. i got the wrong hand. >> he's a lefty. he caught the ball in that glove. the ball itself would probably be worth over $5 million.
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the owner of the cubs owns it so it will never be sold. this is the closest thing. we have an opening bid at $250,000. we expect it to go in the $750,000 plus range. stuart: the glove? >> these are the two most important pieces of cubs history you can own. stuart: put them back before i ruin them. number two, you have this jersey. is that michael jordan's first ever jersey? >> it is his first ever jersey. i will hold it up so everyone can see it. the reason we have a bit of a chicago theme is if you go to, the auction is live right now, and it culminates at the national sports collectors convention august 1st in chicago. we have a chicago theme. this is jordan's first ever bulls jersey. literally the first. it comes with a letter from a bulls representative as well as photo match. it is the jersey they presented him with when he signed his contract in 1984. so there is a famous photo of him holding this jersey. look at the material. look what they wore back then. this was a game jersey from 1984. very very different from the high quality --
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stuart: the quality. >> it's very very light, very different from what they wear today. this jersey, i would be shocked if it didn't go for $100,000. i would not be shocked if it went for $500,000 or more. truly iconic michael jordan piece. stuart: can i reach across, touch this. >> absolutely. look at the quality of that signature. stuart: that's babe ruth. >> yes, it is babe ruth. on a scale of 1 to 10, that is graded a psa 10. let's show, you can see how dark it is right here. which camera you want me at? stuart: don't worry about it. how much? >> this we expect to go for about $100,000 or more. it is literally on a scale of 1 to 10, graded a 10. it is a perfect babe ruth signature. some people say we saved the best for last. this is a game-used jackie robinson bat from the 1955 world series, the only world series the brooklyn dodgers won in their history. it is graded a 9.5. this and over 1,800 items, this
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we expect to go for probably $200,000 plus. all these items, 1800 more are up forbidding right now at remember, g-o-l-d-i-n auctions. stuart: i hope you do well. >> i do, too. stuart: spectacular stuff. >> thank you. people have said thises our best auction since we have been in business. stuart: i'll take that. thanks very much, sir. ken goldin. more "varney" after this. ♪
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stuart: i love it, what a day for news. look what weewe had. president trump impromptu press conference. he answered any and all questions. secretary acosta stepping down.
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mueller hearing will be delayed until july 24th. emotional testimony from alexandria ocasio-cortez. she doesn't want any detention at the border at all. look at that left-hand side of the screen, all-time highs for the dow and s&p. stocks gained 10 trillion since trump was elected. take that, connell. connell: i'm connell mcshane, i'm filling in for neil. welcome to "cavuto: coast to coast." s&p looks like if it holds the gains it can close above the 3,000 mark for the first time ever. if you look at tech stocks, the nasdaq is on pace for what would be a 7th record close so far this year. one thing both political parties think could pose danger ahead. we'll talk about that. soon facebook be treated


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