Transcripts For FBC Varney Company 20240713

2020 election. There is agreement on Government Spending. That takes the threat of a Government Shutdown off the table, at least in the short term. One more, and i consider this a plus. Chairman nadler suddenly called off the Impeachment Vote last night. No reason given. Debate resumes at 10 00 eastern this morning. Perhaps he wasnt sure the vote would go his way. Perhaps he wanted more tv time. Impeachment has become a democrat mess. Now look at this. A 220point gain for the dow yesterday and we saw an Early Morning rally today, faded only a little. The dow still on track for, what, 80, 90 point gain, up 8 on the s p, up 27 on the nasdaq following a big gain yesterday. December, no, ive got that wrong. A december to remember, thats what im trying to say. Varney company is about to begin. Stuart lets start, why not, with a president ial tweet. Here we go. Record stock market and jobs. Short, sharp, to the point, mr. President. We read it right there. Good news all around. Some big names you know are poised for fresh highs at the open. Im going to start with apple. Thats the premarket quote, up another roughly half percentage point, 272. 75 on apple. As for microsoft, i own a thin sliver of it, 153. 64, up about. 25 this morning, another record high. British banks, they are poised to rally bigtime after the conservative got that majority in britains parliament. Brexit shouldnt be far behind. British banks, look at that, up 11 , 7 , 2 . Big gains. Yes, we are waiting for the formal announcement on a china trade deal. Edward lawrence at the white house. Edward, give me the bullet points, please, on the deal thats likely to be formally announced. Reporter first theres a News Conference in about 30 minutes going on in china about this deal. Now, trade adviser to the president Michael Pillsbury laid out for fox business four of the main points related in here. One, the deal will protect intellectual property, have greater protections for that, open Financial Services markets and agree, the chinese agree not to manipulate their currency. Theres enforcement in this deal. The chinese vow their word, to keep their word on trade. A trade source tells me they also said they would buy 50 billion in agriculture but they would not put that in writing in the text. As you said, the phase two would be negotiated after the 2020 election. My source says there will not be a signing ceremony with president xi and the chinese have asked for the u. S. Not to publish the text of this agreement. Well have to see if that happens, on the december 15th tariffs until from a source, those tariffs will not go forward and will be a small reduction in tariffs that are existing on some chinese products. Stuart thats the good stuff. Okay. Thank you very much indeed. Let me turn to susan now. If weve got no new tariffs being imposed and a cut in existing tariffs, a cut, which products will avoid the tariff problem . Susan a lot of great Consumer Products that a lot of people buy. This is good for the consumer. Lets take you through them. Video game consoles, 5 billion worth of game consoles would have been tariffed on sunday, december 15th. We have computer monitors. We had 37 billion worth of laptops that would have been taxed some 15 if december 15th tariffs went into place. Also toys, 12 billion worth of toys, 43 billion worth of mobile phones, footwear as well, gloves, mittens, shawls, scarves, you get the picture. Stuart i do. Bow ties. Cravats. Susan at the end, the winner is the u. S. Consumer which is good for the u. S. Economy. Stuart got it. No new tariffs. Got it. Thanks. Lets get straight to the markets. Looks to me like the runway has been cleared for this market. Maybe its ready for takeoff. Lets find out with joel shulman, our market watcher of the day. Look at you. This is a great day to be in the market. Great day to be in the markets. Small caps have been on fire since october. We see this continuing with this news in china, we see this continuing through today and the rest of the year. Think we will have a christmas rally and a strong january. I think the markets are particularly wellpositioned again for u. S. Small caps. We have been kind of beating that drum for a couple months but also nonu. S. Because the u. S. Markets are starting to get fully priced but we still have room in small caps. Midcaps, by the way, small caps, u. S. Midcaps and i think the markets attention after january will be shifting to nonu. S. Where the value seems to be. Stuart i hate to raise what may be a negative, but i was around in 1999. I think you were, too. I was around. Stuart there was a terrific runup for the nasdaq. Until october 2000. Stuart all of a sudden you get into the new year and there was a devil of a selloff. Could there be the same thing today . Well, we saw this by the way a year ago, the Fourth Quarter of 2018 was a tough quarter. People forget that. As late as the second week of december, people thought it was doom and gloom. We have seen periods of 10 , 15 dropoff and people in the market have to know that the market is susceptible particularly those stocks that have a big runup stuart wait, wait. Amazon, microsoft, apple. Im not selling. Im not selling either, but when you think of amazon, theres been a lot of news lately on the Saudi Arabian oil company. Theres only two companies out of 62,000 companies we track that have over 250 billion in sales and have a 400 billion market cap or more and 100 billion of profits. The Saudi Company and amazon. Amazon is a company with over 100 billion in profits. Stuart they make 100 billion a year in profit . Yeah. Yeah. Stuart plows most of it back into the company, i take it . Yeah. Yeah. We dont think of it this baway because years ago they didnt have profit but they came back. Stuart the runway is cleared, im worried about a selloff next year but im not selling now. Well, lets worry next year. Lets get through christmas, january. Lets enjoy january. Stuart just great. Runways clear. Joel, thank you, sir. The video, which we are about to show you on your screen, is the leader of the Scots National party. Did extremely well in scotland in the general election in britain last night but it was a very very big win for Boris Johnson. Especially in the north of england. All right. Ashley webster has been over there covering this for us. Lets finalize this. Does boris have the votes to finally get the brits out of the European Union . Ashley yes, he does. He has those votes and more. He has a 78seat majority, so the conservatives could quarrel among themselves about the details of brexit, but it wouldnt matter. He has more than enough votes and that is great news certainly for the conservative party, for all of those who voted for brexit and what we saw last night was people thoroughly fed up with the dithering in parliament and a vote for Boris Johnson breaks the deadlock and for the labour party and Jeremy Corbyn, what an absolute disaster. Just to highlight this very quickly, theres a seat in south wales in a mining community, it has always voted labour going back to 1918. Yesterday, they voted for the conservatives. That just gives you an idea of how big a win Boris Johnson has enjoyed and certainly i see the uk getting out of the eu probably before the january 31st deadline. Theres nothing to stop it. The runway is clear and all the arrows are pointing green. Stuart real fast, ashley, i can see how the voters went for Boris Johnson to get the brits out and do brexit. Did they vote against Jeremy Corbyn because of his socialism . Ashley yes, they did. It was a very stark contrast. Boris was positive, he was amiable, he made people smile. Jeremy corbyn just cut a very grim picture, he was all gloom and doom, were on the road to ruin, and i think people are just fed up with it. It was a vote against Jeremy Corbyn as much as it was i believe for brexit. Stuart i hope you enjoyed your time in britain. Come back soon, ashley. Ashley on my way. Stuart good luck, ash. Thanks a lot. Earlier this morning, an economic number came out, retail sales for the month of november. Deirdre, i thought they were rather soft. Deirdre tepid. They grew at. 2 . October was 3. 1 so already worse than october. Economists were looking at a gain of half a percent. Basically, amazon and best buy are the winners. The losers here were essentially department stores, restaurants and clothing stores. So anyone who is buying tends to be buying online. Also, surprisingly, auto dealerships did pretty well. The three bright spots, auto dealerships, amazon, best buy. Stuart got it. Thank you. Check futures. We have come down a little, not quite in negative territory. We are now looking at a gain of, what, 17 points for the dow, maybe, and a fractional loss for the s p. Got it. At 11 00 eastern time, this morning, President Trump welcomes the president of paraguay to the white house. He could and probably will speak to reporters. If he does speak, maybe he will talk about china trade. If he does speak about china trade, you will know it real fast because we will cover it for you. Like President Trump, babe ruth was larger than life. Theres no bigger icon in sports history than the babe. The bat that the yankees player used to hit his 500th home run is up for auction. Of course we will tell you how much its going to sell for. Forbes has its most list of most powerful women. Ivanka trump made the list. But way down there at number 42. Can you believe who the number one was . Germanys angela merkel. Ivanka 42, merkel number one. I dont get it. More varney after this. 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[tina] youre an old lady. Stuart weve got a phase one trade deal with china. Phase two is discussed after the 2020 election and look whos here. Max baucus, former ambassador for the United States to china. Mr. Ambassador, welcome to the show. Thank you, stuart. Stuart let me go through the outline of this deal, the very broad outline. Stronger intellectual Property Protection, access for u. S. Companies to Financial Services, no currency manipulation, no new tariffs december 15th, cuts on tariffs, phase two after the 2020 election. Looks like its cleared the decks for china trade. We dont have to worry about it. What do you say . Well, well see whats actually agreed to. Stuart sound good . It sounds good in the interim. Stuart does it sound about as good as were going to get for phase one . For phase one. But phase two is the bigger question. Because phase two deals with structural issues. Thats something thats much more important to the United States manufacturers and United States businesspeople, but with china its going to be very reluctant to agree to. I think frankly, phase one could well be it. Phase two, well try in 2020. Im not sure how far well get. Stuart it seems like china doesnt want to be open about the terms i saw that. Yeah. Yeah. Stuart agricultural purchases, a verbal agreement i saw that, yeah. Stuart dont write it down. They dont want the people back home to know that maybe china has given a little . Well, thats part of it. My experience as ambassador over there, we just dont think it, then it doesnt really happen because theres no enforcement. They dont have an independent judiciary like we do. Stuart we were told, there was part of the note here that there would be some enforcement provisions in there. Not that weve seen them, but that theyre in there. There may be some kind of enforcement. My gut, somewhat cynical sense is theyre papered over and theres no independent arbiter. China says one thing, we americans Say Something else, whos right . Stuart mr. Ambassador, you dont seem to think much of this. No, its good. Stuart lot of cold water all over it. Its good to buy from china, buy a lot of soybeans, thats good. We should be happy with it. Im saying the bigger problems are really down the road. Thats going to take a lot more work. Stuart but they are off the table before the election. Yes. It looks that way. Stuart i would say thats a pretty good thing. Well, i dont know if off the table is a good thing because american businesses would still like better access in china. Stuart okay. Mr. Ambassador, max baucus, thank you for joining us. Always appreciate it. Thanks. By the way, as we were talking there, the market turned south. I think you had something to do with that, maybe. Im not so sure. Lets go to gerri willis at the new york stock exchange. What are traders saying this morning . Gerri we may be out over our skis a little. Thats what theyre saying here. They are keying this off the fact we have that 9 30 presser with china. Wall street journal has a story, china offers no confirmation on u. S. Trade deal. Big concerns here. Do we have it wrong . Is there no trade deal . Of course, the president tweeting just the opposite, that the wall street journal story is incorrect. Ive got to tell you, we have no signed deal. Lots of traders even before this rash of tweets and headlines saying not quite done yet. Youre seeing some weakness in dow futures here and we are seeing treasuries edging up a little higher this morning as well. So 9 30 will be really important here. We will be watching. I know you will be, too. Back to you. Stuart got it, gerri. Thank you very much indeed. Ive got to change the subject entirely. A lot of people will hit the road for christmas, got it. Well, there are some new features on googles wayz appear which i happen to use. Deirdre theres a snow warning tool which warns drivers about black ice, and drivers can also put that information in so you have this crowd sourcing effect. If you come across a tree, for example, across a street, you can put that in and future drivers, other drivers coming along that road will have the same information. Stuart i cant get around without it. Thats a fact. Good story. Deirdre useful. Stuart yes, very useful. Theres another headache for wework. This is news to me. Trying to get out of leases . Susan they have 17. 9 billion in global leases signed. This was a company on the verge of collapse. We had basically an ipo that didnt go through and they needed money from softbank. This company could have gone out of business this year if it wasnt for softbank coming in. In order to stem the tide and to minimize the losses, that they lost about a billion dollars in the First Six Months of this year, they are unravelling leases now up to hundreds of billions around the world. They are the largest commercial real estate leaser in manhattan. Stuart let me remind everybody, we have just turned south for the dow industrials. For our radio listeners, we are off 8 for the dow, 3 for the s p, 14 for the nasdaq. I promised i would no longer talk about this but here i go. Hasbro has unveiled its baby yoda toys. You have to wait to get them. We will tell you how long. Even elon musk has joined the baby yoda craze. He tweeted this meme today. Our next guest has a very strong opinion about elon musk. Hes calling him entitled and arrogant and he will explain why. You are the one. Nothing shines brighter than you. You are my rock. Nothing is stronger than you. You are oneofakind. I love every facet of you. You are my diamond. For the diamond in your life, theres only one Diamond Store. Zales. Its the you are my diamond event. Get 30 off everything including these one of a kind deals. Exclusively at zales, the Diamond Store including these one of a kind deals. vo thewith every attempt, strto free itself,piders web. It only becomes more entangled. Unaware that an exhilarating escape is just within reach. Defy the laws of human nature. At the season of audi sales event. Are ready for cartridges another school year . What does cyan mean . It means cyanara, honor roll. imitates shell fire, laughs the ink daaaad daaaad im so hosed. Yeah. You are. shaq the Epson Ecotank printer. No more cartridges it comes with an incredible amount of ink that can save you a lot of trips to the store. Get ready for the deans list. Whos dean . The Epson Ecotank. Just fill and chill. Available at. Stuart British Labour party leader Jeremy Corbyn lost bigtime yesterday. Now he says a new leader will be chosen by early next year and he will step down at that point. He lost big, the socialists lost big and i think that rubs off on the socialists here, senators warren and sanders. Well see about that later. We do like strong, definitive opinions on the program. Weve got one for you now on tesla. Joining us on the phone, market watcher bill blaine. He is very bearish on tesla. Youve got a big problem with elon musk. Explain, please. Hi. Pleased to be with you. The problem with elon musk is not so much what hes doing with tesla. Tesla has certainly reset the model for electric vehicles and has the potential to be a very successful company. The problem is elon musk himself. Do you invest in managers and leaders of companies who behave the way he did with the tweets he launched against the british caver who rescued these thai school kids . No, you dont do that kind of thing. Now, what we hear from the teslasphere is dont criticize tesla. If you actually speak to the Institutional Investors that are going to fund tesla, they are saying we want musk to deliver. We want him to deliver the company. We do not want to see that kind of behavior. It is unforgiveable. Any other company, people behaving like that would be sacked. Stuart okay. Thats an interesting opinion. We appreciate it. Lets see what happens to the stock. Thanks for joining us, sir. Appreciate it. Look at that market. We are going to be down a little at the opening bell. We had a trump tweet about tariffs and the story that was on tariffs in the wall street journal. I think that took the market down but not much. Down 15 for the dow, 3 for the s p, 16 for the nasdaq. Back with the market after this. Theres a lot of talk about value out there. But at fidelity, value is more than just talk. We offer commissionfree online u. S. Stock and etf trades. 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Gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. Stuart right before the market opened, the dow futures turned negative, just a short time ago. Maybe its because of this president ial tweet that just came at us. The wall street journal story on the china deal is completely wrong, especially their statement on tariffs. Fake news, et cetera, et cetera. I think that took the market down. What was the wall street journal susan the wall street journal report was basically saying china has offered no confirmation on the phase one trade deal. Now, we will be hearing from the state council of china in a very late, 10 30 p. M. Beijing time press conference. To be honest, i have never seen a press conference that late from the Chinese Government and that usually indicates they have some pressing news to get out there, and the attendees list includes economic and Cultural Office and Government Affairs individuals. I think its a positive for the phase one trade deal. Stuart you think its a positive . Susan i think its definitely positive. Stuart its wait and see, obviously, but it hasnt taken the president s tweet hasnt taken the market down that much. Lets see what the chinese have got to say. All right. The market has opened. We are dead flat to slightly lower, now were up a point on the dow industrials. I think we are pretty much the same story for the s p. Have a look at that. We were going to have a big rally at the opening bell but that really faded. As for the nasdaq, that too has opened ever so slightly lower. 05 on the downside. I want to check apple. Earlier, premarket, it had reached record territory. Its pretty close now that trading has begun. Pretty much the same story for microsoft. Record high before the market opened. Now its opened a fraction lower. You got 152. 89 on those two stocks. David dietze joins us this friday morning. I want to talk about apple and microsoft. Too expensive to buy them now . What do you think . You know, apple is up 72 this year. Im not betting on another 72 but certainly the drivers are in place because they are making a great shift from hardware into services. Its not just the iphone they are getting revenues but all the ancillary ways they can help you. Plus of course they are making pretty good penetration in china and i think whats going to be the next thing to take it higher is if we can get the postponement of the december 15 tariffs because that will keep iphones reasonably priced. Stuart we want to see that confirmed. Susan you will get that probably in hours time. We are looking at the best performance for the s p in six years. You have made 25 already in 2019. Now you have brexit cleared with that huge majority for Boris Johnson, you possibly have a phase one china trade deal and the fed is on your side. Thats sounding pretty positive heading into next year, 2020, as well. Stuart absolutely. I thought we would open up this morning on the upside and futures suggested we would be on the upside at the opening bell. But i said that because it seems like the decks have been cleared. China trade, kind of off the table. Usmca done. Great jobs report couple of weeks ago. Brexit, boris. All looking pretty good. A spending deal, to boot. Susan right. Stuart the decks are cleared, i would have thought we would have gone straight up. Absolutely. Retail sentiment has been good but i think some of the geopolitical developments can improve sentiment in the board room. If we can get corporations to start making more capital expenditures, i think the earnings estimates can move up north in 2020 and take the stock market to the next level. Susan yeah. We had disappointment in retail sales this morning as well. Maybe that dented sentiment a little bit. Just a little. Susan heading into the holiday period, its kind of important for big amazon retailers. Right . Stuart it was november, retail sales up. 2 . I just in my ear have heard the chinese briefing has been delayed by an hour and a half. So it will now be 11 00 a. M. Our time. I think weve got that. Okay. We will get more of a definitive word what china is saying about this proposed phase one trade deal at 11 00, in the 11 00 hour this morning. By the way, that will coincide, i think, with when President Trump greets the president of paraguay and when he may speak to reporters. 11 00 hour is going to be kind of complicated. Until we get there, weve got the dow industrials down 40, down 9 on the nasdaq and down 5 on the s p. China trade is holding this market back. Okay. Now lets have a look at costco. Yeah, their website crashed over thanksgiving. The ceo said that it did hurt. That really hasnt hurt the stock over the long term. Can you show me costco . There you go. It has hurt it, actually. We were over 300 a share on costco, now down to 293. Another delay for the max jet. The wall street journal says fixes not expected to be approved until february. That pushes back the time when they can get those planes back into the air. The tenyear treasury yield, 1. 88 . I call that a fairly bullish signal for stocks. Check the price of gold. Dont expect Much Movement there. Down up 3, 1475. Same with oil, dont expect Much Movement. Up 19 cents at 59 a share. Look at amazon. Top executives in china trying to lure Third Party Sellers to that site. What does that mean . Susan that means amazon cant operate in china, hence you have alibaba there. What they are trying to do is to lure Third Party Sellers so Chinese Companies go and sell on amazons website to the rest of the world, and there was a twoday event, you had nine amazon executives in attendance and we do know amazons online store internationally positioned because its not only operating in the u. S. , they also have 16 regions they operate in as well. Dont forget they operate in singapore, the middle east, india as well. So most of these companies are trying to sell to probably american consumers, and the rest of the world. Stuart the stock is down, though, 1755 on amazon this morning. Okay. Show me mcdonalds, please. I understand there is a big labor win. Mcdonalds is a dow component. Whats the win . Deirdre the win is its harder for workers to unionize. Most of Mcdonalds Restaurants are franchises so there was this question, are the workers part of the mcdonalds corporation, are they part of individual businesses. Long story short, its a win for mcdonalds. We should see some support on the stock even though right now we are fighting a downward draft. Stuart we are, but david dietze, come into this, please. Looks like the downward draft is because of the china trade uncertainty. Thats the problem here, isnt it . I think thats the last link to couple with the dovish fed we heard from earlier this week, from this fantastic election victory by Boris Johnson. If we can get a definitive phase one, i think this market could be off to the races. Stuart i thought boriss win would be a big win for us over here. Boris wants to do a trade deal with President Trump, he will get them out of the European Union, the socialists were crushed, thats good news for us questioning the socialists here. I would have thought this would be a bigger lift for the market. Everyone is focusing on brexit but the labour party also stood for a tax on the wealthy, stood for nationalization and they were so soundly beaten, i think that bodes well for whats going on in this country. Stuart absolutely it does. Okay. Information coming to us on lyft. They have announced a car rental service. I guess hertz and avis not happy about that. Susan no, shares dropped bigtime when that news was announced on thursday, late on thursday afternoon. Lyft is going ahead of the competition and allowing individuals to rent cars directly on the app. There are i guess no caps on mileage. You can refuel and this is something they are doing in competition with the likes of uber, et cetera. I tried to get in touch with uber. They have not announced a similar sort of proposal. They do allow their drivers to rent their vehicles in order to operate. Stuart well, lyft is doing a lot better than uber. Susan are they . Stuart well, lyft is still shy of its susan it went public at 72. Stuart 72 . Susan im not sure thats that close to getting back to par there. Stuart youre right. Hold on a second. I have to get an update on the briefing from china on trade negotiations. Expected to start around 11 00 eastern time, our time, this morning. Edward, what do you know about that . Reporter yeah. The delay, just about 30 minutes or so in the chinese. Whats interesting about this News Conference is the list of attendees in the News Conference, talking about some very big chinese names and officials that have some weight behind it. This is very unusual for those folks in china to be up this late on a friday evening, to have this kind of News Conference. So there is an expectation that they are going to talk about whats inside the phase one trade deal that the president says that we have, at least told my sources that we have Going Forward. It will be very interesting to see what happens and what comes out of this but again, very unusual to have this so late in the evening in china. Stuart thank you, edward. Susan, fill me in on this. Edward just said there are big hitters going to be at this press conference. Now, whats the significance of that . Susan its a big deal because im looking at the list of attendees and as i mentioned to you, the National Development and reform commission, basically they outline the strategies for the chinese economy over the next five years, one year, ten years as well. You also have the agricultural minister, the vice minister of agriculture, foreign affairs. These are people that are pretty high up there in the echelons of chinese rule. And i dont think they would be holding a press conference, scheduled for 11 30 p. M. Their time, there is a 12hour difference. Stuart 11 30 in the morning our time. Susan thats correct. I rarely see these type of press conferences being held this late. This indicates theres some big news for them to unveil. Yeah. Stuart you wouldnt have all those people in the audience for a press conference unless youve got Something Big to tell them. I doubt very much that you assemble all of that lot to say we aint doing no deal with them americans. Susan looking at the agricultural purchases, 50 billion is a big sum given that china only bought 24 billion worth of farm goods in 2017. So there are some details i think needs to be probably ironed out and probably needs to be specified in this press conference in terms of what exactly china has agreed to. Stuart david, i think we will spend a lot of time this morning waiting for china to say what theyve got to say. In fairness, its a lot easier to cut tariffs than it is to get the various chinese organizations to commit to more agricultural purchases, prices are moving second by second in soybeans market, some other trade links have been installed. In fairness it will take a little bit of time. As mr. Trump has said, china wants this deal and they wouldnt be staying up late, these top dogs, if they werent serious. Stuart okay. All right. Yeah. Its 9 40 eastern time. David dietze, thank you for being with us this morning. Thank you. Now, check that market. Ten minutes in, some confusion over china trade. The dow is down four, five points. Thats it. The results for the uk election, they are in. Socialism lost bigtime. Boris johnson and his conservative party won bigtime. I will tell you why i think this is very good news for us here in america. That will be my take at the top of the 10 00 hour. Retail data from november shows the consumer remains strong so how good is december going to be for retailers . I will ask gerald storch. Amazon is already delivering half of its own packages. What does that mean for ups . More varney after this. sure, the contents easy. But then you have to connect, download, edit, reformat, output, save, send, upload. Still uploading. And maybe eventually post. This isnt working. Introducing samsung business video solutions. With the galaxy note10, you can shoot, edit and post thumbstopping videos, all from one device. Samsung business solutions. Stuart were down 11 points on the Dow Jones Industrial average. Basically we are waiting for more definitive word on china trade which should come to us from a Chinese Press conference that they are holding over there late at night. Got it. Earlier this morning, we heard that retail sales for november kind of soft, up only. 2 . What does that mean for december . Former joining us now, our retail guy, the man with all the energy, gerald storch. Welcome to the program. Good morning. Stuart november, up only. 2 . I call that soft and slightly disappointing. What does it mean for december . Well, dont panic. Keep in mind as weve discussed, cybermonday shifted into december this year. Remember we had the late thanksgiving . Cybermonday is not in the november numbers. So when you add that back in, i think you are pretty much on course for a Great Holiday season. You are going to have to look at november and december together when all is said and done to find out what happens. I have heard businesses flying out there right now. With two more weekends until christmas, last 12 days, shopping is going crazy right now. People are out there spending that money that they have. So lets wait and see before we try to sing a dirge over Holiday Shopping season. Stuart this report about the december 15th, sundays tariffs, that theyre not going to be imposed and some might be cut, you were always of the position that tariffs didnt make any difference whatsoever to retail sales anyway. Thats what you are always saying. Well, they make an immeasurable difference. Thats what im saying. You cant really find it. If we look at these tariffs, 150 billion in goods, 10 on those, its a rounding error on a 15 trillion consumer economy. Its not going to affect the consumer. Its not going to affect very much of anything. There may be a few companies that are highly contrary in china who it might affect but every retailer that reports, they walk in and say guess what, we were able to handle the tariffs. They didnt make any difference. Our people are so good, we were able to negotiate better deals, move some product, do whatever we had to do, and costco reported, their margins were up. They are doing better on the profit line despite tariffs. I just dont think its that big a deal. We should be looking at fundamentals when we look at what stocks to buy, which companies will be winners and losers and forget about that right now. Whatever happens with tariffs is going to happen. Thats up to President Trump and the chinese. Really, theres just way too much overreaction in the market to every little news about these tariffs. Stuart yeah. We are spreading that news, too. All right. Hold on a second, ive got news here from morgan stanley. They say that amazon is already delivering half of its own packages. Susan, that cant be good for ups. Susan no, it definitely is not good for ups. Morgan stanley even says that as well. Amazon logistics is delivering 6. 5 billion packages each year by the year 2022. Thats far exceeding what ups is delivering at five billion packages per year. Fed ex is only at 3. 4 billion packages per year. So that means that amazon which now has its own fleet of planes and using its own lastmile delivery people, thats a big problem, big overhang for Delivery Companies like fed ex and ups Going Forward. Stuart i see a lot of people, ordinary citizens, so to speak, delivering amazon packages at odd times of the day and night. Theyve got this army of civilians brought in to do it. Susan its the lastmile delivery thats the big problem. Who do you use for the foot traffic to get there. Stuart gerald, come back in, please. That sounds like amazon is the behemoth. I found out this morning that amazon made 100 billion in profit a year. I didnt know that. Look, look out the window. Those new gray trucks they bought, they are everywhere. You have heard that amazon is investing a ton, particularly the second half of this year, in same day and next day delivery. They are Building Local hubs in every major market around the country. They bought the trucks to do it themselves. They are going to do it themselves. This is a huge competitive advantage versus other retailers who are trying to shift ecommerce orders from all the way across the country through fed ex or ups or ups or whatever. Huge advantage. Huge advantage for amazon. The only ones able to keep up are those who already have local dcs like target or walmart that are called stores and are delivering from the store. Everybody else is going to have a Terrible Service disadvantage if amazon is tightening that web. By the way, for ups, usps, they will keep some deliveries. Know which ones amazon is letting them do . The unprofitable routes. The big rural routes. Thats what theyre doing. They are going to own the dense routes with that last mile susan was talking about, can be done profitably and leave it to ups, usps to do the difficult stuff. Stuart i tell you, i was up all night watching the British Election so im a little sleepy this morning. Mr. Storch, i dont know where you get your energy from but youve sure got a lot of it. Thanks for joining us, as always. See you again soon. Check the dow 30. I think its pretty much lot of red right there. Twothirds of the dow are in the red, they are down. The dow industrials are down, what, just eight points. Okay. Babe ruth, hes the most i dont know why they put this in the script. I do know this. Hes the most famous baseball player of all time. I got it. I got it. Okay. First player to hit 500 home runs. Now about a century later, the bat that he used for that recordbreaking hit, the 500th home run, its up for auction. How much you think its going to sell for . Ill tell you later in the show when we have the auctioneer on the show. Nothing shines brighter than you. You are oneofakind. You are my diamond. For the diamond in your life, get 30 off everything including these one of a kind deals. Its the you are my diamond event. Exclusively at zales, the Diamond Store. Its the you are my diamond event. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Are ready for cartridges another school year . What does cyan mean . It means cyanara, honor roll. imitates shell fire, laughs the ink daaaad daaaad im so hosed. Yeah. You are. shaq the Epson Ecotank printer. No more cartridges it comes with an incredible amount of ink that can save you a lot of trips to the store. Get ready for the deans list. Whos dean . The Epson Ecotank. Just fill and chill. Available at. Stuart all right. Folks, we are dead flat, waiting to see what china says about this proposed phase one trade deal. We should find out very very soon. Expect the market to move on that. Right now were pretty flat. Big changes in drug policy at major league baseball. They teamed up with the Players Union and announced that marijuana will be removed from its list of banned substances. Deirdre, does that mean pot and booze are now the same . Deirdre exactly the same. Suspension for use of pot will be dropped from the program. In other words, no discipline, no disciplinary action can be taken against a player who tests positive for marijuana. I will say this, though. Players and team staff do have to attend, they are mandatory, programs, next year, the year following, on the dangers of drugs and practical, im reading from the literature, practical approaches to marijuana. Stuart okay. But pots in baseball. Deirdre they cant be punished for testing positive. Thats the big change. Stuart big change. Deirdre it is. Stuart yes. Attention, baseball fans. Babe ruths 500th home run bat goes for auction. Joining us is david kohler with scp auctions, the company which is running this auction. Welcome to the program, sir. Show me the bat, please. Yes. Well, here we have babe ruths bat that he hit the 500th home run on august 11th stuart okay. If you can hear me, hold it up a little bit. Then i can see it in the shot. There you go. Thats pretty cool. That was the 500th home run bat. You tell me, how much is that going to go for, do you think . Well, we estimate this to sell for over 1 million. Its already at over 750,000 at our website, scpauctions. Com. This is the bat that babe ruth started, hes the charter member of the 500th home run club. Hit it august 11th, 1929. This bat has been authenticated by the foremost experts, psadna. Its been discovered, ruth gave it to his friend in the mid 40s, and its been discovered after 90 years of the milestone home run. Stuart does the person who owned it, when it was discovered, so to speak, did they get the million bucks . Well, they will get a good portion of that when we sell it here. It ends tomorrow, saturday, december 14th. And its on the Auction Block at our website, all over the world. Theres been a ton of interest in this. Its kind of the holy grail of sports collectibles. Stuart is it . Would it be the most expensive and most valuable baseball bat in history . It has a great chance of selling for that. We actually sold another babe ruth bat, our firm, in 2004. He hit a home run out of Yankee Stadium on opening day and that brought 1. 265 million. But that was 15 years ago. So we feel that this could set the new world record. Stuart we wish you the best of luck. That is scpauctions. Com. Still going on, i believe. Thanks for joining us, sir. We appreciate your input today. Babe ruths bat. Million bucks. All right. Thank you so much. Stuart thank you. Now then, it really has been a pretty good month for President Trump. Phase one of the china trade deal seems like its done. The runway is clear for him in 2020. Guess what . I will get lou dobbs on that. Hes coming on the show in the 11 00 hour this morning. Mr. Dobbs will be with us. The classic Christmas Song baby its cold outside made famous by dean martin. Theres been a lot of outrage over it the last couple years. Martins daughter joins us in the next hour. I will ask her what she thinks about this internet controversy. Big election win for conservative Boris Johnson in britain. Socialism lost big. I will tell you why thats good for americans in my take, which is next. What i love most about being a scientist at 3m is that im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. We are solving problems that improve lives. To one that can take on a bigger challenge. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Nice rock. Its time to drop gold. Go digital. Go grayscale. Stuart it is 10 00 eastern time , almost i should say. Happening this hour, Chinese Ministry top officials there will hold a news briefing, this is unusual, itll be late at night their time. Theres a ray of high officials ready to go. Edward lawrence joins us from the white house. Edward they wouldnt be getting an array of top officials late at night unless theres something dramatic to say i take it . Reporter exactly were talking about 11 p. M. In beijing you have the top officials in the Foreign Ministry office, the Commerce Ministry who are ready to do a briefing here in front of reporters. Im watching actually on the screen here, the chairs are empty at the moment awaiting for those folks to walk in that briefing expected to start any minute. You know, the white house has not made a formal announcement about this deal. The president has not made a formal announcement but already some democrats in congress are starting to try and poke holes in this deal. Senator Chuck Schumer just released this statement talking about the president just saying this. According to reports, he has sold out for a temporary and unreliable promise from china, to purchase some soybeans. Weve heard this song and dance from china before. Our sources say the chinese agreed to spend 50 billion on agriculture but would not put that number down on paper. Those sources say the chinese also requested the text of this agreement not be published. I talked with one source and the reason for that is that some people on the trade team in china believe that hard liners may get a hold of the tax and start to poke holes in it which is exactly what happened last may when we were very close to a deal. Back to you. Stuart senator schumer would say President Trump has sold out i wonder what his judgment on president obama would have been. Reporter we havent seen whats in this deal yet and the sources that ive been talking with say theres stronger intellectual protection, or stronger intellectual Property Protection and enforcement, so we havent seen whats in that, and the senator obviously really seen a statement unhappy. Stuart sold out. Boy. Edward thank you, sir. I want to bring in jonathan hoen ig. I love the name of the fund, hes the manager there, jonathan welcome to the program. Great to be with you stuart good morning. Stuart it just seems to me the decks have been cleared, maybe china trade is off the table. The british have won the socialistic got beat et cetera et cetera. It seems like the path opened for a nice extra yearend run. What do you say . Well certainly, freedom is on the march, prosperity will follow, stuart especially when it comes to whats happened in the united kingdom. I know you were up late watching the results and i was as well and we should be cheering because the socialists have lost aoc has lost and Jeremy Corbyn in the uk, stuart as you know this is a real socialistic not like the democratic socialistic we have here like bernie this is a man who wanted the means of production and the old school socialistic so the fact that a more conservative, a more market oriented party many say the most has taken control in the uk bodes well for their economy, and their trading partners like the u. S. Stuart i just think it is, i think its a pointer towards what may be the 2020 election in the United States. I mean, President Trump is going to go up a democrat of some sort and they are pretty much left ring democrats it could be very much a mirror image of what we saw yesterday in britain. Yeah, if the democratic opposition of President Trump, who despite his flaws still represents much more of a capitalist solution than the democrats do, its his democratic representation opposition is as left as it was in the uk, stuart i think you can pretty much assure a president a win given the results in the uk. Stuart forgive me for interrupting here but the reason why the market has suddenly started to move up, its this. A top official has said to me again, please . The major progress achieved in the first phase of the trade discussions. The first phase trade deal. Major progress made. Thats what china is saying. Agreed on the context of the first trade deal, okay . So thats obviously a positive statement from china. Come back in beginnings jonathan thats whats moved this market to the upside, right . Yeah, and we seen this theres a little bit of a once burned twice shy, stuart as you know from traders who have heard these types of comments both from the American Administration and the chinese before, so the deal not set yet, but every indication that we get weve seen this for literally months now that a deal is there and youve seen the market move up once again in this case. Stuart one second jonathan. What was the statement on tariff s . So the u. S. Will followup on its promise to cancel tariffs on a phase basis according to the vice commerce minister and thats why the s p has hit another record high. Stuart thats all just coming out right now. This is from beijing. This is what china is saying. I think thats very important. Very important. Stuart weve been relying on leaks from our own, not our own trade negotiators but leaks from the talks. Now weve got it officially from the beijing authorities. The first that agreed on the context of the first phase of the trade deal, theyve agreed on tariffs. Yes, thats right and basically, being real back if you read between the lines, to cancel tariffs on a phase basis, as well. We dont have specifics on whether or not this is the existing tariffs. We do know there might be a delay in the december 15 tariffs , and as for the u. S. , what is the u. S. Getting in this some of the headlines coming through is that the trade deal will further protect the foreign firms interest in china. Stuart okay. Keep those bullet points coming, please. Because they are important and thats pushing this market up. Keith fitzgerald is on the phone , keith this is all about china trade this morning, with a back drop of boris win in britain, a spending deal, and a couple of other pluses, right . But basically this market moves up because of trade. Absolutely, it moves up, because there is value to be had the market is a forwardlooking mechanism so even though we are talking about record highs traders still perceive there is more to go and more to come in 2020. Stuart by the way, Boris Johnson is speaking now. Im not exactly sure, precisely what hes said, maybe that has helped the market, im not sure but if boris wants, do you want to look just for a second, please . There he is. This election to get Brexit Donald we will honor that mandate by january 31, and so in this moment of national resolution, i want to speak directly to those who made it possible, and to all those who voted for us, for the first time , and those whose pencil may have wavered over the ballot, and you heard the voices of their parents and their grandparents, whispering anxiously in their ears. I say thank you for the trust youve placed in us, and in me, and we will work around the clock to repay your trust and to deliver on your priorities with a parliament that works for you. And then i want to speak also to those who did not vote for us, or for me, and who wanted, and in fact still want to remain in the eu, and i want you to know that we in this one nation considered a government will never ignore your good and positive feelings of warmth and sympathy towards the other nations of europe, because now is the moment, precisely as we leave the eu, to let those natural feelings find renewed expression in building a new partnership which is one of the Great Projects for next year, and as we Work Together with the eu, as friends, and sovreign equals, impacting Climate Change and terrorism, in building academic and scientific cooperation, redoubling our trading relationship, i frankly urge everyone on either side of what our after three and a half years, after alan increasingly argument, i urge everyone to find closure and to let the heal ing begin, because i believe , in fact i know, because ive heard it loud and clear from every corner of the country stuart youre listening to Boris Johnson Prime Minister of Great Britain after a stunning electoral win yesterday. He has the votes to take the british out of the European Union and thats what he just said. Were out. They are out. January 31, move forward, with Boris Johnson, a stunning win and by the way, a stunning loss to his socialistic opponent. Now thats not what is moving the market this morning and the market is now beginning to move up. Thats not Boris Johnson doing. That is the chinese doing. That is, theres a press conference going on in china as we speak. So far, the chinese have said, now this is important, the chinese have said major progress has been made. There is a phase i trade agreement. Without going into detail, thats the sentiment thats being expressed in beijing as we speak. Theyve lined up ceo officials for across beijing, senior officials in the foreign minister, the agriculture ministry, theyre all there and they are being told that there is a phase i trade agreement. Dont know about farm product purchases by china. Dont know about that. Dont know the volume of it but they got a trade deal. Phase i major progress has been made. Thats why lefthand side of your screen, dow industrial is up 113, the nasdac up 44, the s p is up 10 points. This is a rally based on china trade, with a back drop of lots of good news for the economy and the market. Boris johnson won, beat the socialists, and maybe that implies that the socialistic will lose here in america in 2020 and usmca done, a spending deal done. A Government Spending deal has been done. An agreement has been reached. That means were not going to have a Government Shutdown, at least not in the shortterm and now here comes the newest from beijing. There is a phase i china agreement. Im looking out of the corner of my eye and i can see the House Judiciary Committee, the chair, jerry nadler, struggling to get some kind of vote on the two impeachment charges. He abruptly ended the discussion last night without a vote. The republicans went crazy. He reconvened at 10 00 this morning and it seems like hes got a mess on his hands. I would suggest that is a plus for our market. Its certainly a plus for President Trump. Im seeing out of the corner of my eye theres a rush of photographers going to gerald nadler, i think hes announcing the vote just stay right there. What a mess. Meanwhile the market goes straight up. What do we got next . Okay, what do we got . Keith are you still with us . I am, stuart. Stuart im saying consistently throughout the show today the decks have been cleared. Would you agree with that . Absolutely, because your traders had impediment after impediment after impediment and there was Something Holding them back and now they can focus onGoing Forward and the fact the chinese have lined up senior officials culturally is extreme ly significant because everybody doesnt just tow the line over there, they make the line, and thats significant, because china understands that. Stuart all right, keith thanks very much indeed. Jonathan still with us, jonathan , last word to you on the market and the decks are cleared. Yeah, its unquestionably good news. A little bit of concern as was reported there was a hesitance to actually put the deal in writing, especially if its going to be enforceable over the long term. But the market doesnt lie stuart and as our guests have pointed out a lot of reasons not to buy this market trade has been top of list. For me executives investors big and small and the fact were getting some clarity is certainly good for china and especially good for the u. S. As well. Stuart you said it thank you very much jonathan and keith. The dow industrials now up 120 points, s p, nasdac both higher, and now this. There was some very clear winner s and losers in britain and america in the uk election. The british vote has impact. Both sides of the atlantic and overall it was a terrific result wildly positive for anyone who believes in values, liberty and freedom. Conservative Boris Johnson won a landslide victory. He will take the brits out of socialistic europe, thats good. He says theyre on track to do that by january 31. Good. President trump strongly supported him. Our president clearly wanted him to win and promised a big trade deal. Boris win is indirectly a trump win. Boris, trump, trade, sovereignty , big wins. Socialism lost last night. Not just in britain but in america too. Jeremy corbyn went down to a crashing defeat and new this morning he announced he will step down after a new Labor Party Leader is chosen. He had taken his labor party way out to the left, just as Bernie Sanders and senator warren have done here. Corbyns loss is indirectly bernie and warrens loss too. They are fellow travelers, pushing the same extreme socialistic views. Corbyns utter failure, with the writing on the wall for socialism here and by the way, as the brits went to the polls, alexandria ocasiocortez offered support for corbyn. She seemed to endorse him, tweet ing about the hording of wealth by the cost of peoples lives. Thats the of course and equality feel. So beloved by the left over here and over there. At the very least, aoc has suffered shall we say a setback. I must confess to being delighted in the 1970s britain had a fully socialistic economy and it was collapsing. Thats when i left. I made my way to america and discovered the virtues of capitalism, and freedom, to see the country of my birth, thoroughly rejecting the failed policies of the past and to send that message resonating here, well that is just a plain wonderful thing. How about that . Ashley webster in london, what do you got to say . I hope you heard what i just had to say, go ahead. Ashley [laughter] i couldnt have put it better myself, stu and you know i lived here through the socialistic years of the 70s and of course that brought us Margaret Thatcher who came along and broke the back of the unions and the socialistic policies and Free Enterprise and freetrade economy sprouted and i think what we saw yesterday in the uk was a complete denial and a push back on socialistic strateg ies. Certainly brexit played a role, Jeremy Corbyn blaming brexit for his humiliating defeat but he should look squarely in the mirror and realize he was a terrible leader with terrible policies and the result speaks for itself and very quickly, stu , what i find fascinating is so many labor supporters turn their back on him and voted for Boris Johnson in areas that have never ever voted for the conservatives. He used to call it the socialistic republic of south yorkshire. Never voted for the conservative s, always the labor. That turned conservative yesterday. Some precincts that never voted conservative going back to 1918, they voted conservative, so to your point, i do believe its a strong rejection of socialism in this country and it could have some strong parallels to what we see in 2020 in the United States stuart well said young man. Now come on back to america okay im on my way. Stuart just one news note before we go to our guest. The house panel, judiciary committee, has passed both articles of impeachment. That was the russia photographer to gerald nadler. They wanted to see him say that we passed them both so thats now done. Whether that hurt the market or not im not sure, we were up 100 , now were up 70, and maybe the Impeachment Vote had some limited effect, but honestly i dont think so. I think this market is really all about clearing the decks and the china deal on trade. Lets bring in rachel bovard, she is with the conservative partnership institute. Okay, outlook. I think that yesterdays British Election will be mirrored in 2020 in our election because mr. Trump capitalism, Free Enterprise is going to go up against a leftist, put it like that. Yeah, one thing i thought was very interesting about this election was that corbyn ran in england like a lot of people here want our leftist to run and the result was not just that he lost. He got ahhinilated. Labor now has the least amount of seats since 1935. This is a historic loss, and so i do think it resonates here. We have to, our left has to take lessons from that. If we want to win they cant go full socialism. Stuart its a rearrangement of the political landscape. In britain, they had long long term labor voters, socialistic voters who switched and went to boris. In america, you saw the same thing with donald trump. Long time democrat voters switched to him. This is a rearrangement of all things political. It is and it really is a rejection of this sort of finger wagging elitism. Labor really has become a party of the cities and the suburbs where it used to be a working class party, it is not any more and you saw this from the exit polls. Labor lost the working class, very similarly to the way the democrats here have lost the working class in places like wisconsin and michigan that historically were democrat but went for trump. So i do think there is this notion its interesting youre seeing this with impeachment. Democrats here just like labor there are trying to undo the results of an election. You know in the uk it was trying to undo the brexit vote. Here its trying to undo the 63 million americans that voted for donald trump. Stuart aoc supported mr. Corbyn , Jeremy Corbyn, on the grounds that of income in equality. Corbyn would do something about it. She wants something done about it here. Do you think income inequality is the kind of issue that can really shift elections in america . You know i think its something of concern that the solutions that the left is proposing are what turn people off in the uk and here because again, theyre not promising to solve income and equality. They are promising re distribution of massive amounts of wealth not just money but wealth and i think that scares people. Thats a huge, huge drastic solution to a problem we can solve in a much more nuanced way stuart in my opinion, it is theft, and utterly wrong but thats just me. Rachel thanks for being with us on a very important day. Always appreciated. Thank you. Thank you. Stuart check that big board weve gone back up a bit more were up 90 points now and the reason for this rally is a China Press Conference in beijing, where leading officials have said major progress has been made on a trade deal, there is a phase i agreement. Dow is up 92 points, how about that . Well be back. Imagine traveling hasslefree with your golf clubs. Now you can, with shipsticks. 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You can give help and hope to those in need. Stuart were not even an hour into the trading session up 91 points very positive news on china trade, thats whats doing it. Check out the price of oil, where is it right now . 59. 92, almost 60 a barrel how about gold . I think that is that up a little bit . Its up 14. 73 and now lets concentrate on these major league headlines coming out of china. Bullet points please, susan . So basically, theyve agreed to everything that we talked about which means no new tariffs on december 15, the current tariffs that are in place on 360 billion were the chinese goods will be phased out over time, and also there will be more imports of u. S. Energy. They will buy more agriculture, pharmaceutical products, Financial Services as well into the chinese economy, and it looks like the followup will happen as soon as possible, and more access for u. S. Firms in china, something that President Trump has pushed for, every administration has really pushed for, and china again stepping up here, saying that they want to allow more Financial Services and Foreign Services products. Stuart this was not some kind of a leak. Its not some kind of speculation. This is a public announcement by a senior chinese official with a whole bunch of min its res lined up in front of him right . A lot. Stuart its a serious thing and a statement of fact. Absolutely. Stuart it is a phase i agreement and the markets gone up on that, not that much, but were up 78 points. Tammy bruce i want her to come on in now, fox news contributor. It occurs to me theres a juxtaposition here, youve got pretty good news on china trade, the market is setting record highs, ultimately, the economy growing, et cetera et cetera, and meanwhile, weve got the democrats just approving two articles of impeachment and they might get a vote on impeachment in the house next wednesday. Yeah, its a perfect juxtaposition. The difference whats happening in this country despite the resistance is real leadership, is a vision thats been implemented from the beginning, so these great things are happening not because in the moment, its been what President Trump has seeded this framework with. Creating a great economy, so that he can negotiate with china , so that we can actually get a good deal there, because we can withstand any trouble that coexist and also, here, youve got the democrats limping along, in a weird point where they cant stop themselves even though they see that theyre at the edge of the cliff, because they have nothing else thats a desperate dynamic. Stuart im sorry to interrupt but its the incredibly shrink ing impeachment. Theyre down to two charges, none of which mentions bribery, corruption or anything else, they are just charges. Well this has been the democratic partys 2020 Campaign Paid for by taxpayers. This is what it is. Theyve known from the beginning all this other stuff was just more rhetoric leading up to it, trying to persuade in this case, gaslight people into it. It hasnt worked. They dont have the courage to stop themselves because they dont know what else to do. It is, i have to say, perhaps a collapse in general of the democratic party, because there is no leadership, not only when it comes to whose running but when it comes to direction, and the American People like what we saw in england. It is about rejecting the voice of the people, saying that they know better, and free people dont like that, and we have patience but were going to reject it. England rejected it. This is a horrible sign for the democrats. I mean, i can tell you right now , they cant even really be excited about the impeachment because even they know what theyve done to themselves. Its like wanting to renovate your house so you set it on fire first. Stuart you are having far too much fun so well hold you there for a second and hold you over. Im just going to tell them whats coming up but you stay right there. Thank you. Stuart forbes has released its list of the most powerful 100 women in the world. Germany chancellor named number one, you wont believe the reason why tammy bruce will have more on that in just a moment. What a show. Were coming back. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. Trelegy the power of 1,2,3 trelegy 1,2,3 trelegy man with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. 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Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. Stuart a new trump tweet on china trade here it is. We have agreed to a very large phase i deal with china. They have agreed to many structural changes, and massive purchases of agricultural product, energy, and manufactured goods, plus much more. The 25 tariffs will remain as is, with 7. 5 put on much of the remainder. The penalty tariffs set for december 15 will not be charged, because of the fact that we made the deal. We will begin negotiations on the phase ii deal immediately, thats new, by the way that is new, and rather than waiting until after the 2020 election. This is an amazing deal. Thank you. All right, the dow industrials are up a little bit but basically, weve got here, the dow, s p and nasdac today, all hit record highs. Theres a lot of news in the background here. First of course china confirming the phase i trade deal is going to happen. In the meantime, the democrats just approved two articles of impeachment against the president , and the house may debate those articles on the floor on wednesday of next week. What a contrast, ha . Now, were waiting for this, we expect to hear from the president in the next hour, hes meeting the president of peri gay, cameras will be allowed in, thats vital. We expect he will answer questions and probably, probably have something to say about china trade. When he says it youll know it. Change the subject, were moving into Something Real important here. Forbes has its list of most powerful women, in the world, number one germanys angela merkel, number two, christine la guard, the president of the European Central bank, number three, House Speaker nancy pelosi, and tammy bruce still with us, and i cant get over this. Ivanka trump is what, number 42 . Number 42, and both of the trump women, the most powerful women in the world, Melania Trump quiet and yet the ear of the president , Incredible Program through children, Childrens Health and education, clearly one of the most powerful women in the world, not on the list and yet, this is a list really of awarding its like a popularity contest for the left. Its the femininist that bothers me because youve got three women who are the biggest failures on the world stage. Merkel who has destroyed germany stuart dont hold back, tammy. They say theres a sense of drift and purposelessness, and a government out of ideas in germany. She is retiring next year. Crime has increased doubledigit s since the Million Immigrants in 2015. Germany is moving into a recession and we see of course this renaissance we have because of trumps policies. The same with christine lagarde, and she is warning europe that yes, were heading toward a recession, europe is in trouble, this is why theyre also desperate about brexit now, because its socialism destroys things, and europe is heading down the drain and now they are just scrambling around. Those two women, responsible primarily for the collapse and nancy pelosi, San Francisco. Why not make her number three, because power does matter in how you use it, for liberals these are their heros. It shows us what not to become. Ivanka, they couldnt ignore because of her extraordinary work when it comes to paid leave , working families, healthcare, the influence on her father, and then of course, mrs. Trump who is these women are changing the world, not just to change it, like in San Francisco or europe or germany, changing it into a failure, changing peoples lives for the better and thats why this is really a punishment but america knows, Melania Trump and yes, they are active in policy frameworks. Different styles, but they are successful, and thats what makes our good news today valuable and purposeful, and whats going on in europe clearly, its a signal of what were avoiding and what england has just avoided as well. Stuart im going to sit back, tammy and just take the rest of the show because you are on a role. But its easy because no matter who you are, this is whats interesting and what were seeing. People recognize it no matter what your party and because your lives are better. You cant say that if youre in germany or in a european country and england will feel the power of this as well. Stuart i didnt really mean that you could have the rest of the show but youre pretty good. Thank you, sir. Stuart tammy youre all right thank you very much. Thank you. My pleasure. Stuart now check that market were up be its an up and down day. Im a little surprised because we did get the official announcement from china, that there is a phase i china agreement but we are up marginal ly. I want to take a look at the sector movers as well maybe because it looks like china has increased or they will increase their imports and purchases of energy, agriculture, pharmaceuticals and Financial Services as well, and a very interesting headline that just came out of this press conference is that china and the u. S. Have reached consensus on intellectual property theft, and protection. Now this is a big Sticking Point , in the 17 months of negotiations, also they have agreed on a crackdown on fake goods as well, and china goes on to say that they will rollback their own tariffs on u. S. Goods. Stuart do we know about enforcement of the intellectual property rules . We dont have any specifics. Stuart whats the details . Thats a good question. Detailing is very important here and thats what the market is reacting to as well. These are great headlines coming out but in terms of specifics we dont have a lot of them, but china says they will also import more u. S. Wheat and corn after this deal as well, not just soybeans. Stuart okay. Its all happening isnt it . Staying on top of it i think thats pretty good. I do. Now, im going to change the subject completely, for a good reason. You really should see what were about to show you, because it is flat out frightening. Weve got video that shows someone hacking into a ring camera and talking to a child. Watch this. Who is that . Im your best friend im santa claus. Stuart we didnt show you the whole video. The child is terrified. Flat out terrified and shes eight years old, a strange voice coming into her room in her house, frightened the poor child to death. The cyberguy is with us now. All right, that was just terrible. How do you stop it . Its a nightmare, when this especially is a parent gives a child or puts a camera like this one in a childs room, and that is able to let a hacker or a creep through, it is your worst nightmare. Stuart yes it is. The simple thing is the camera was only put in four days prior, and the family made one tiny critical mistake that a lot of us make. They did not turn on the two factor authentication in the security settings. What is that . Its that thing that makes them send us an email or text to say is this really you, stuart . Yes, it is my camera and this is me. Okay were going to let that go through. Otherwise, its likely that hack er would never have been able to get through the camera. Stuart but you wouldnt have to have the twostep authentication process every time you turn the camera on, or would you . When you do administrative stuff to the camera is when they do the twofactor and when you connect for the first time, its a twofactor but not on a repeat stuart the solution here is very simple. The solution is it may feel like a lot of trouble, but its a trouble we now have to do. We have to do this now, because there are going to be thousands of people unwrapping cameras like this one, or other home devices over the holidays, and they need to take that extra step to simply go to settings and look at your security and privacy and maximize it. Just turn it up and that means two factors. Stuart got it. Curt, good stuff. Thank you very much for joining us on a frightening story. Got it, thank you. Check that market please, we turned south. Now, maybe the impeachment charges which have now been voted on in the house, maybe thats a negative. Frankly, i dont think so. I think its more likely, go ahead. Okay one of the chinese official s at that press conference has said that the implementation or discussions of phase ii of the china trade deal would start after the implementation of phase i, so in other words, get phase i right, then well do phase ii. That is a little bit of a contradiction from President Trump and his tweet just 20 minutes ago, where he said that negotiations on phase ii would begin immediately. The chinese are saying hold on, we start phase ii, and weve implemented phase i. Thats a Minor Leagues negative. Also the fact that the tariffs will remain on 25 so while chinese imports while some goes to 7. 5 thats pretty disappointing as well since china in this press conference said they would be phased down but not on all. I think that was something the market was anticipating that basically 360 billion worth of chinese goods are currently being tariffed most of that would be removed. But not the case. Stuart not so, right. Complicated but important, and thats why the dow is responding to every single breaking item of news, right now, were down 5 points. All right, in our next hour, President Trump welcomes the president of paraguay to the white house. We expect him to report, to speak to reporters itll be the first time we hear the president speak since the china trade deal was announced. When he speaks, youll hear exactly what hes got to say, and then theres this. Singer dean martin made the song baby its cold outside famous. The song is getting a lot of backlash in todays canceled culture. Deans daughter, she joins us, on the set, and ill ask her what she thinks about all of this. We really do cover it all, on varney company. Baby its cold outside im happy to give you the tour, i love doing it. Hey jay. Jay . Charlotte oh hi. He helped me set up my watch lists. Oh, hes terrific. Excellent tennis player. Byebye. I recognize that voice. Annie . Yeah she helped me find the right bonds for my income strategy. Youre very popular around here. Theres a birthday going on. Karl he took care of my 401k rollover. Wow, you call a lot. Yeah, well its my money were talking about here. Joining us for karaoke later . Ah, id love to, but people get really emotional when i sing. Help from a team that will exceed your expectations. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. How can you do this thing to me, think of my lifelong sorrow, i really cant say, oh, but its cold baby its cold outside stuart there she was, dina martin singing baby its cold outside, to the Live Audience on fox friends, fox news this morning. She is the daughter of dean martin, the man who really made that song famous, and shes with me, now, in the studio. Now, theres a problem here, with baby its cold outside utility because a lot of people are saying its cancel culture saying thats a guy trying to persuade a woman to stay with him. Thats terrible. Thats bullying thats sexism. What do you say . I think that its ridiculous , because first of all you have to date, you have to go out, and i think that its a cute, flirty nice song, and you know, in the movie, neptunes daughter, where theyre chasing each other around, 15 minutes later, its Beverly Garland chasing around red skeleton, so i think that its an empowering song for women, i think that its a beautiful song and i mean , give me a break. Stuart give me a break. In 1,944, it won best song of the year inlet me see, 1949. Stuart really . Yeah, absolutely so i think that its a fabulous song. Stuart theres always somebody on social networks saying i dont like that. I dont like that. Got to be aware of this. Thats bullying thats whatever. Its a part of our culture these days. It is a part of our culture and what about all those rap songs that are just disgusting . You know, does anyone say anything about those . Stuart no. I dont think so, so what the hecks gone wrong . Stuart so you just power ahead. Sing that song. Thats right. Singing it whenever i can. I just did in las vegas, and for both of my christmas shows, and ill be singing it on monday night and joe was fabulous. You know, and so for him to just come in and sing it with me, we got up at 4 00 this morning, well you know about that, so it was all worth it and we love, you know, we love fox. Stuart you are a singer in your own right now. Yes, ive been doing it forever. Ive been doing it for about 50 years. Stuart 50 years . Yes stuart say it aint so. Well i know, im not going to say anything, but its so and i love to do it and i grew up with my dad, of course dean martin and uncle Frank Sinatra and sammy davis jr. And so the people that would come over to our house, and i just learned from the very best, so very lucky. Stuart maybe your childhood the people around you, and your childhood . Yes. Sammy davis jr. The rest of them. Stuart the rat pack. They were the rat pack. Stuart you grew up with the rat pack. Im kind of like the brat pack. Stuart [laughter] remarkably strongly if i may say so. Well were on the road 280 days out of the year. Stuart no. Oh, yes. Stuart how did you do that . Its hard. Boy are my arms tired. Stuart your husband is in the studio with us. Yes, john is my handsome husband, of course, hes my producer and the director and the manager. Hes the one, and so were together all the time. Stuart you got 280 days a year . Yes. Stuart so where is home . We have a home in branson, missouri and a place in Beverly Hills but branson is beautiful, and stuart i dont know how you do it. I dont know either. Stuart 280 days a year. Its worth it and i love it and i do a lot of concerts for the Wounded Warriors and veterans and we go to d. C. And do that all the time, so its important to me. Stuart you are wonderful. So all is alibaba today . Stuart youve got some stock . Yeah. Stuart its at 202, 203 a share. I own some of it too. A tiny sliver. Well we have a little apple. We got it at 42. Stuart you got apple at 42 . Yes, we did. A long time ago. Weve got a lot of things. Stuart you got microsoft . Really . You know what . I was very upset. We went into see our portfolio manager. We wanted to buy what was it yahoo . Google. We wanted to buy google and they said well no, we cant get that for you. I said what do you mean so we walked across the street to another broker, and we got it. Stuart im glad to hear that. We watch you, are you kidding me . You guys, yeah. Stuart you could have coanchor ed the show for the next three years if id known that. [laughter] okay well we will. Stuart we appreciate you being with us today. Merry christmas. Stuart check that market, you always got to check the market up and down all over the place driven by headlines and right now, we are up, ever so slightly , pretty much acrosstheboard. I have to tell you that we have some sad news to report. Actor danny iello, who starred in classic movies, godfather ii, moonstruck, do the right thing, he passed away last night. His agent says he was being treated at a hospital in new jersey for a sudden illness. Danny aiello was 86. Free . Theres no free here, im the boss. No freedom. Im the boss. You want freedom, there, thats free, you take an order and take it out. Lets be honest, quitting smoking is freaking hard. Like quitting every monday hard. Quitting feels so big. So, try making it smaller. And youll be surprised at how easily starting small. Can lead to Something Big. Start stopping with nicorette stuart we do expect to hear from the president shortly hes meeting the president of paragua y, may speak to reporters well bring it to you as soon as we can. Now earlier this morning we heard from the chinese side about this trade deal. Weve just heard from the american side. The u. S. Tr, theyre called says this. 25 tariffs on 250 billion worth of chinese goods will remain. 7. 5 tariffs on 120 billion worth of chinese goods thats a cut in that tariff rate. On the issue of Enforcement Mechanisms the u. S. Tr says there is a dispute resolution system in place, and our side, the americans say, there will be structural changes in the chinese economy. Thats just coming into us and thats a dispute resolution, maybe a little weak, structural changes in the chinese economy, cant be certain that may be why the market has sold up a little. Edward lawrence at the white house do you have anything else for it . Reporter well the president confirming that stuff in a tweet he sent out saying not only will the structural changes but also the chinese will buy a large quantity of Agricultural Energy and manufactured goods. Now the president says that now that this has been announced the phase ii agreements will start or negotiations will start right away. Now china confirmed that in their News Conference, but said they want to wait to see how the implementation of phase i goes, before going too far into those negotiations. Now, here is a statement from u. S. Trade representative Robert Lighthizer. He says this. President trump is focused on concluding a phase i agreement that achieves meaningful, fully enforceable structural changes, and begins rebalancing the u. S. China trade relationship. And the chinese say that the u. S. Has agreed to rollback or phase out tariffs. You mentioned those numbers there, on their products coming in and the chinese also agreed to do the same. This phase out tariffs on u. S. Products going into china. Now the chinese say this is in Nine Chapters and includes intellectual property but they go further saying it also talks about the force transfer of technology which is very important for Companies Going forward. Again, we dont have an exact number from the u. S. Releases, but my source tells me that the chinese agreed to 50 billion in agriculture purchases, so stu were going to have to see exactly how that goes. That number is not in the agreement. Stuart got it its very complicated and there is skepticism about whether a dispute resolution mechanism will work and some discrepancy about will they really be changes structural changes in the chinese economy. Perhaps thats why the market has turned just a little bit south. On that point though the chinese confirmed that the tariffs would snapback if they didnt follow through. Stuart thats the negative there. Edward thank you very much indeed. Complicated but you got through it well done young man. It is december 13, which means, were not even half way through the month, but its been a month of positive and exciting news from the jobs report, to the markets. The Boris Johnsons conservative landslide win in britain. I say that is a win for President Trump too. Two trade deals, the u. S. Mexico canada deal, and now a phase i china trade deal, weve got a jam packed hour ahead for you, with big names like steve hilton , lou dobbs, all on the show, plus were expected to hear directly from the president more varney after this. Look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. 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Stuart friday morning, 11 00 eastern time. Here we go. Theres a lot happening. We are waiting for President Trump. Hes about to meet the president of paraguay at the white house. We expect him to speak to reporters at some point. This will be the first time we will hear him speak, especially important if he addresses the china trade deal. Check that big board. President trump tweeted out details of the deal last hour. Ive got some bullet points for you. China agreed to massive purchases of Agricultural Products, energy, manufactured goods. The 25 tariffs will remain on 250 billion worth of goods. Thats probably whats taken the market down. There will be a cut to 7. 5 on the remainder, thats 120 billion worth of products. There will be penalty tariffs hold on penalty tariffs for december 15th will not go into effect. Phase two of the deal, phase two deal, that will be negotiated immediately. However, chinas vice minister says negotiations for phase two depend upon the implementation of phase one. Little discrepancy there. As of right now, the dow industrials are down 52 points. It has been an up and down day. Now this. We arent even halfway through the month but already this has been a december to remember. Chock full of blockbuster news events, most of them positive. Where do you start . Well, the month began with a stunning jobs report. It confirmed that america has the best performing economy in the world. Thats quite a statement. But with massive job creation, sharply rising wages and historically low unemployment, the statement is justified. We are indeed king of the hill. Speaker pelosi called the president a king and vowed to bring him down. Yes, impeachment is a blockbuster event but i get the feeling its turning into a bust. Its totally partisan. The democrats are split and scared stiff that they will frighten away moderate voters. For the democrats, december may turn out to be the month they would rather and like to forget. Heres another bombshell. Boris. He won big in the uks election. He really will take the brits out of the European Union and he will move towards a big trade deal with President Trump. Thats good for america. Even better, he, boris, clobbered the socialists. Lets put this trade news in context. It comes after the u. S. Canada mexico deal was announced and it comes as a phase one china deal is Going Forward. Lets call it dealmaking december. Shifting the worlds trading patterns. Heres good news on your money. In december so far, the market has gone straight up. The value of american business, up, up by a quarter trillion dollars and thats just from december 1st to the close of trading yesterday, december 12th. That is stunning. It has indeed been a historymaking month and we are very glad you have been with us. We make no prediction about whats to come for the rest of the month or the election year, 2020. Just keep it here. We follow politics and money and its a great ride. Okay. What have you got, lauren . Lauren its been a great day, a crazy day, friday the 13th. Theres a ton of stuff completely spooking the markets. There is a call from goldman sachs, im looking through the note, saying its going to be a great year next year if theres a divided government. The broader market, the s p 500, will go up 7 but if a unified government, meaning democrats sweep, they get the presidency, they get both houses of congress, he sees the market going down 17 . Thats a significant correction, the biggest reason would be they would just get rid of the tax cuts of 2017. So if dems sweep, market goes down almost 20 . Stuart my answer to that would be the likelihood of a democrat sweep, keep the house, take the senate and the white house, the odds of that i think are extremely thin. Thats what hes predicating his 20 drop on. Lauren that is exactly it. The markets will be 54 likely that democrats win the presidency. Stuart 54 . Lauren 54 likelihood they win the presidency. 74 likelihood they control the house. 35 that they take the senate. Stuart i doubt all of those propositions. After yesterdays election in britain, which i think is a mirror image of whats to come in america, lets not forget boris won big. And he just slaughtered the socialists. How do you know the same things not going to happen here . Lauren what i loved about the election in the uk, most polls said boris was going to win but right before the election, the polls really narrowed and we werent sure how much he would win by, maybe not at all. Exactly what happened in 2016. It was a landslide. Stuart you got it. Thats right. Thats right. Were ready to go to steve hilton. He is the host of the next revolution. Steve, i think you heard my take, december, the month to remember. What do you say . I think everything you said is exactly right, stuart, and the thing that connects it all, i think, both the story here and the story in the uk, is this economic boom were seeing here in america, which has meant that donald trump is now clearly seen as the proworker leader of this country. Hes made the republicans the proworker party. More jobs, higher earnings, exactly as you say. Thats the story in the uk as well. It hasnt happened yet but thats the pitch that Boris Johnson was making, and what you saw was those working class areas in the north of england, in the middle and so on, switching from labour to conservative in a way that you havent seen. Some of those seats in the north and the middle have never had a conservative member of parliament before. Boris johnson got them in because he made that same proworker appeal. Now, hes got to deliver in the way that President Trump already has delivered here. Thats the challenge for him. Stuart steve, it seems like its the same sea change in politics there and here. Look, i stayed up most of the night watching the election on sky and bbc, and i was shocked to see those midlands and north of england seats, socialist forever, suddenly go to Boris Johnson. It occurs to me the same thing happened here in 2016. Traditional democrat voters flooded over to President Trumps side of the aisle. I think this all looks very good for mr. Trump in 2020. Thats right. And the even better news is that actually, because of what happened, in this amazing month of december, it looks like the news is going to get better for the president because you have seen that shortterm deal with china, its just a start but its better than nothing, but the really big one is usmca, the trade deal with canada and mexico, which is the most proworker trade deal in history. That accounts for 40 of our exports. That is a huge impact on the economy. You are going to be seeing that all through next year, as soon as it goes into effect. So running up to the election in november, i think this economys just going to get better and better and better. Good news for President Trump and terrible news for the democrats. Stuart yes, it is. Steve hilton, we will be watching you on sunday nights on fox news. I think its 9 00 eastern time, if im not mistaken. Yes. You got it. Stuart we are glued, baby. Were glued. Thank you very much indeed. See you soon. Couple of items for you, individual stocks. First of all, apple. It has hit a new alltime high. 274. 80 now its gone up. 272. 90. The record earlier, 274. You get my point. A big new record for apple, well above the 125 trillion valuation. How about microsoft . I own a tiny bit of it. It just hit a new alltime high reaching 154. 60. Its backed off a bit. Alltime highs for two major league stocks. I say this is a december to remember. Weve got deals all round. China trade, usmca, even Government Spending, too. Coming up, lou dobbs. Hes on the show. I say all of this good news on trade clears the runway for President Trump in 2020. Only impeachment and that circus seems to be standing in the way. I will get the Trump Campaigns take on that in a moment, too. We are waiting for the president. Expect he will speak to reporters from the white house. I hope he mentions china trade because that would move the market. If he says anything, you will hear it. Well be right back. Oh, ho oh, ho, ho, ho you. You got me. Uh, what do you want . Ive got uh, ai robots, ive got vr goggles. I want your sled, please. No. [ chuckles ] timmy. Itd be a shame if this went viral. For those who never compromise. The mercedesbenz winter event. Whoa. He was pretty good this year. Stuart President Trump is expected to speak, hes meeting with the paraguayan president. He may speak with reporters. I just got this coming right at me. China, this press conference, senior officials, they say discussions on phase two of the trade deal will begin immediately. Okay. That brings them into line with what President Trump tweeted earlier today. Phase two negotiations discussions start immediately. Thats a big deal. Hasnt moved the market, though. We are still down 20 points. The House Judiciary Committee has passed articles of impeachment. They did that just in the last hour. The debate on the house floor could come as early as wednesday. They want a full vote next week. Trump 2020 Principal Deputy Communications Director erin perrine is with us now. Do you think impeachment is your biggest hurdle Going Forward . We dont necessarily see impeachment as a big hurdle. Unfortunately, today is really a dark day for House Democrats, who have continued this impeachment sham and hoax and they made sure to do it with the grandest of political theater. Last night, jerry nadler decided at 11 00 p. M. I dont like the timing of this, i dont have enough cameras, i dont have enough prime time right now, so im going to go ahead and adjourn and make sure we do this in the morning when more cameras can be on me as i go and pursue the most ridiculous impeachment hoax in the history of the United States. Every time the democrats have taken a step toward impeaching President Trump which they have aimed to do since before inauguration day, they have strengthened his campaign. In the first 72 hours after Speaker Pelosi made her statement of impeachment by press conference, the campaign brought in 15 million and of that 15 million, 50,000 new donors joined the campaign. 50,000 more americans raised their hand and said i support President Trump, im against impeachment and im going to put my hardearned paycheck behind him. Stuart im not going to suggest that impeachment is of no concern, it is the impeachment of the president of the United States. However, theres another side here. The extraordinary economy, extremely prosperous Holiday Shopping season, a trade deal with china, a trade deal with mexico and canada, a Boris Johnson win so we might get a trade deal with the brits, im running out of space and time to list all the good stuff. I mean, you really shouldnt complain too much about impeachment when youve got Everything Else going for you. Democrats can continue to be a side show and a circus and President Trump will continue to stay focused on the American People. Stuart, youre right. We got historic usmca last week. We are moments away from a nice big announcement on the trade deal with china. I mean, america continues to prosper. We are talking about recordbreaking economic spending from consumers, rising paychecks, recordbreaking job numbers month after month. I mean, americans should feel great about this country and President Trump is doing it in spite of historic obstruction and abuse of power by democrats in congress. Americans should feel very good that President Trump is at the helm. Stuart please share with us the internal polls which i know the Republican Party and the Trump Campaign has been conducting. I have seen the public polls, where in a headtohead matchup, the president beats all the democrats, i think thats in michigan, wisconsin and pennsylvania. Tell me about your private polls, your internal polls. Will you share them with us . Well, what i can tell you is that internally, we are seeing the same thing that you are seeing. Impeachment is a turnoff and it is a turnoff in important states that democrats would try and win if they thought they had a chance to beat President Trump. In wisconsin, we are seeing that independents across the board in the state, voters do not support impeachment. They support President Trump. In michigan, same thing. Voters do not support impeachment. They support President Trump. Pennsylvania, same thing. Voters do not support impeachment. They support President Trump. We see it internally and its good that the National Polling is reflecting that, because democrats should know and the 31 House Democrats who sit in seats that President Trump won should know that they are giving up their job in the house of representatives because they are politically pandering to a base that is not their constituency and it is not the right direction for this country. Stuart cheer up, erin. Its going your way. Thank you very much for joining us. We appreciate it. Thanks a lot. Thank you, stuart. Stuart okay. I would call them soft retail numbers this morning. This is the retail report for the month of november, up just. 2 . Thats not as strong as i was hoping for but youve got to remember that cybermonday came in december so you dont get it in the november figures. I think that makes a difference. Have we got retail numbers to quote . Yes. Amazon, strangely enough, is down. Never recovered that 1800 a share mark despite some excellent news on their holiday sales. Wayfair, up at 89 a share. Now this. The deadline to get your holiday items delivered from amazon, well, there are different deadlines. If youre on amazon, whats my deadline for getting in the order . Lauren if you are not a prime member, its tomorrow. Stuart got to order in tomorrow lauren to get Free Shipping. Stuart to get Free Shipping. Lauren right. Stuart what about for delivery by Christmas Day . Lauren absolutely stuart if you are nonprime, order tomorrow, you still get Free Shipping and you will get it in one or two days. Lauren correct. Stuart okay. Go. Lauren if you procrastinate like most people, this might be why the stock is down, amazon spent a lot of money, 40 billion a year to get you your stuff. Here are the dates. For the most part, prime members have until the 23rd to get the item by christmas. However, in some areas, same day shipping is available, you can order up until 9 30 in the morning on christmas eve. Stuart i love that. Lauren i hate that. I hate everything about that. You cant get a good gift if you are doing it that late. When are you going to wrap it . Stuart i just like brilliant logistics. Thats what amazons got. Ive got Something Else for you. Hold on, hold on, hold on. Morgan stanley is saying amazon is outpacing ups on delivery. Whats that . Lauren its unbelievable. Speaking of logistics. Amazon themselves delivers 46 of their packages. Themselves. So if you go fast forward two to three years, by the year 2022, amazon will deliver 6. 5 billion packages. Compare that to ups, its more, and much more than fed ex. That is unbelievable. But it does come at a cost. Stuart amazon astonishes me. They really do. Thanks very much indeed. Seems like we report on one of those robocall stories at least once a week. They never go away. They are getting smarter. 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Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Stuart almost session lows for the dow industrials. Were off 70 odd points. I think i know the reason. 25 tariffs will remain on 250 billion worth of chinese goods coming to the United States. I think there was some hope that the phase one china trade deal would get rid of or reduce those tariffs. Thats not happened. Maybe the markets disappointed. Lets get to the pesky robocalls which drive me nuts. Many people recognize and hang up on them. I dont think that really works. But they are getting smarter at disguising their calls. Bret larson is with us about this. Bret, we just said look, you get the robocall, it says on your i. D. , apple calling you. Right. Youre going to answer the phone. They have had the ability to spoof anybodys number for a long time. You look and think this must be a neighbor calling me, its a number similar to mine. Now they have figured out how to actually use actual spoof, actual apple phone numbers. So the apple support 800 number in some instances, you see theres the apple store at the montgomery mall. You may think how did they do that . Maybe you went to the apple store near where you live, and that number calls back, it pops up as them. Apple is saying if you are not expecting a call from us, dont pick up the phone. When you hear the voicemail, its this robotic voice telling you to call this 800 number thats not really a tollfree number. Hang up the phone. There are two apps you can get stuart wait a minute. You dont answer the phone. Dont answer the phone. Then they know the number works. Stuart right. Never answer a robocall. That doesnt really fix the problem. It doesnt really fix the problem. Stuart if im on another call, making an email to somebody or texting somebody, my phone is out of action for the 13, 14 seconds right. It lights up, maybe this is apple calling you. Theres a couple apps you can download to your phone. Ios13 has a builtin ability to block robocalls. The problem is that its only blocking based on whats in your address book. If people arent in your address book, they are going to go straight to voicemail. You arent going to know that they even called you. Which is sometimes good but if you are a small business, if you are a freelance reporter or, you know, shift worker, it could be anybody calling you and you may not have everybodys number and maybe they dont have time to leave a message. They are working on it. They are working on legislation to give the ftc more teeth. Stuart work harder. Drive me up the wall. That was good. Thanks, stu. Happy to share that information with you. Stuart ive got to get back to china trade. China has indeed confirmed that an agreement has been reached with america. I would say it was a pretty good deal. Thats the way it looks to me. Coming up, i will talk to christian whiton, get his take on it. He says its china that needs this deal. We will be back. We call it the mother standard of care. Its how we care for our patients like job. His team at ctca treated his cancer and side effects. So job can stay strong for his family. Cancer Treatment Centers of america. Appointments available now. Cancer Treatment Centers of america. vo the flock blindly flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. Stuart look at this. Not quite the session low. We were down over 100 just moments ago but we are down, down 100, 101. Onethird of 1 just at the 28,000 level. Let me bring you this. China has indeed agreed to phase one of the trade deal. Elizabeth macdonald with me now, evening edit lady. It occurs to me that the market is not liking this deal. I think its because 250 billion worth of chinese products will still be tariffed at 25 . Thought they were going to go away. Liz its an important point. Its also about the leverage in a deal, the enforcement of the deal. Will the president in other words, the lack of details, is there leverage in the deal, will they roll back in phases the tariffs. Thats the leverage. Thats the enforcement mechanism. The president tweeted out, the wall street journal has the story wrong, then the market started to drift to the downside. So you know, also, thats one big question mark. Also, china not giving any details on the size and scope and what kind of Agricultural Products they will be buying. Stuart they wont put it in writing. Liz they wont put it in writing. Thats correct. Stuart we dont really know the number. Liz thats right. Stuart the market doesnt like it but i suspect america largely will, because youve got it off the table, youre not going to hear all these headlines all the time. Liz yeah, thats right. Stuart tariffs really havent hurt the economy at this point. I think the people like it. The economy likes it. The market doesnt. Liz to your point, apple, they faced, what, 15 tariffs. That may be gone. Nvidia, micron stocks. To your point, this is important, because is it really about what the markets are saying for the future, for 2020. We are watching most of the districts that the republicans won in 2020, 20 of them were heavily blue collar manufacturing districts. The only one, Something Like a dozen or 16 in the prior election, so rolling forward, the expectation, you are going to get more manufacturing as the dollar strengthens. We always have that push pull. The ecb, lagarde is saying we will do more monetary easing so you have gold action there. So thats the issue. Stuart politically, economically, good for the president. For the market, the jury is out. Theyre not real happy with it. Liz its not like two heavy blacksmith anvils, the brexit deal and china trade, those appear to be lifting. Its the scope and the detail of the china trade deal thats an issue now. Stuart thats an interesting analogy there. Liz i dont know why i even said it. Stuart thats good. Liz thank you. Appreciate your appreciation. Stuart the evening edit is weekdays at . Liz 6 00 p. M. Thank you. The varney spinoff show. Stuart no, its not. Thank you for being with us. Appreciate it. I want to bring in edward lawrence, because theres one area of this trade deal which we have not heard much about, and that is the transfer of technology. What have we got on that . Reporter well, to your point, talking about we dont know whats in this, it does go into a little bit more detail than we thought. Originally, it was seven chapters, 150 pages. The chinese are saying its Nine Chapters and there are those intellectual Property Protections which is big for Companies Going forward but also, a section on forced transfer of technology. Thats where a u. S. Company goes into china, has to partner with a chinese company, they get 51 and then take all the technology and all the core of the business. There is a section, according to the chinese, on that, preventing that or ending that practice from happening. That is a longterm benefit to the economy. I think what you are seeing in some of this, weve got to get the details, though, is a longer term benefit to the economy here, with that intellectual Property Protection and forced transfer of technology. Stuart but those issues are indeed in this deal. I thought it was going to be a real skinny deal. You buy some soybeans or whatever. But its not, its a much bigger deal than that. Reporter it does. It appears to be more detailed. Yeah. Stuart it does. Youre on top of it. We appreciate it. Thank you very much, sir. I want to bring in christian whiton, former state department guy. Christian, i know that you have been saying in the past china needs the deal more than we do. So whats your judgment on the deal thats been announced, the details that have been revealed . What do you make of it . Well, i think its still frankly more of a victory for china than us. But the deal looks a lot better today than it did last night. Last night it looked like frankly, the indians who sold manhattan for some trinkets and beaver pelts would no longer be as embarrassed because it looked like a complete giveaway to china, basically some farm purchases and some niceties on intellectual property in exchange for tariff rollbacks. Today the president clarified that. The wall street journal got the story completely wrong, fell victim to chinese propaganda that was inserted from beijing into their reporting. So this is actually okay now. I just thought, you know, the president doesnt need this deal, the United States doesnt need this deal, our economy is good, q3 gdp was revised upwards. Consumer spending missed estimates a tiny bit but is still in great shape and is increasing. Wages are up, unemployment is at a 50year low. And china is the exact opposite. They are on the back heel economically, food prices have doubled, pork prices have. They are in political trouble in hong kong. Why throw them a lifeline now. I think theres a little bit for both sides in this. The one thing i would point out, this idea that we are going to go right to phase two negotiations, that just isnt going to happen. China is going to see this as a final deal and would have to be dragged kicking and screaming into negotiations. Stuart just moments ago, on the lefthand side of the screen, we saw the president of paraguay arrive at the white house with President Trump. They went inside. We are expecting them to sit down, you know, the photo opportunity, some journalists will be in the room. There will be questions asked. Im pretty sure that china trade will come up. Im not certain of this but i think its highly likely. What would you like to hear the president say if he answers any kind of question on china trade . I would like him to say that as soon as the chinese get caught cheating on this, and they will cheat on this, than the tariffs hes agreed to suspend which isnt very much, hes cutting 15 tariffs on 140 billion of chinese imports back to 7. 5 and the higher tariffs, the 25 that we have on half of chinese imports, those stay. But i think if he says listen, as soon as we catch them cheating, we are raising the tariffs, cutting and putting the ones we suspended on december 15th back up, because thats what the chinese understand. I am afraid, frankly, you know, again, 50 billion in farm purchases, its not nothing, but you know, creating constituencies in these countries, this country that is more dependent on trade with china i think is bad strategic thing to do, and the intellectual property stuff, i think its pretty looseygoosey. The white house has done a terrible job communicating this deal. They should have refuted the wall street journal report as soon as it came out last night. Frankly, i would like to see more details and more Enforcement Mechanisms. Stuart what you want is a much harder trump line. Thats what you want. Isnt it . I think so. You point out that the markets off today because they want the exact opposite, at least the guys who are in the the fast traders wanted capitulation to china and the market is off because they didnt get that. Again, this may be a Glass Half Full situation but, you know, frankly, keeping some uncertainty around china trade is a good thing, because you are seeing companies leave china, come back to the United States or go to vietnam, go to other Manufacturing Centers and it leads to the fact this has a little bit of uncertainty, i think might be good, you know, to start moving commerce away from our chief adversary in the world. Stuart christian whiton, thanks for joining us. We will of course be updating you on anything the president has to say from the white house. Christian, thanks very much. Ive got an update on the boeing 737 max jet. Fixes will not be approved by the faa until february, next year. Why is that . Lauren were not flying on a 737 max until the spring. The reason why, it seems the faa is really annoyed at boeing because they are publicly trying to push forward and get this 737 max ungrounded and the faa is saying absolutely not, we need time, let us communicate to the public, not you. Its a trust issue. Maef American Airlines and southwest say they dont expect to have this jet back until the end of april. Going to be a long time. Stuart stock at 342. Im going to keep saying it. It is truly a december to remember. Thanks to the president. Positive headlines on trade, pretty much everywhere you look. We have avoided yet another Government Shutdown. We are not even halfway through the month. Coming up next, lou dobbs on a december to remember. We are watching every move from the white house. Paraguays president has arrived. We expect the president to Say Something to reporters from inside the white house, as we always say, if he speaks, you will hear him. Well be right back. Step up, please. Empty your pockets. 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Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Stuart special deal. Hes just putting his microphone on, straightening out his notes. It is lou dobbs. He runs lou dobbs tonight if im not mistaken on this network. Is that correct . Absolutely. 7 00 p. M. Eastern. Stuart right, right, right. You told me you are bringing us news on china trade. Do it. Lou absolutely. The president of the United States has secured a deal with china that i think, and i have been looking at the averages here. You know, i understand the theory buy on the rumor, sell on the news. The news here is much bigger than what the market understands right now. The reality is that this is a deal crafted by Robert Lighthizer, the president s trade representative, that hits just about every element that he sought in the course of this negotiation over all of this time, and let me see what it is. We are talking about the president deferring planned tariffs that would have gone into effect come monday on chinese goods. Thats been suspended. He is maintaining, and this is what is going to stun a lot of people, 250 billion of chinese imports into this country, the tariff on those imports remains exactly what it is until further notice. And hes giving up 7. 5 of 15 on 120 billion on other goods that had gone into effect. So it is remarkable. By the way, for everyone 7. 5 of 120 billion, you got 9 billion, thats what hes giving up here. Stuart thats the news. Hard line trump. Lou it is hard line trump, but it is also the smart president we put into office. He is constructing a deal for the future and it is one in which as he has announced now today is going to be negotiated from now forward. This is not only a trade deal which is important, intellectual Property Protection for this country, structural change in china, access to chinese markets, critically important, trillions of dollars in the potential, and at the same time, creating a relationship because that negotiation is the foundation of what will be an emerging power and this dominant superpower for decades to come. I truly believe that. Stuart okay. Okay. But look, we do not know what the dispute resolution mechanism is. Lou we do know that Robert Lighthizer has said that that is critically important to him, that it is would be certainly part of the any deal. The president has said nothing will happen here that isnt is not a clearcut win for the United States and in my opinion, everything that he has laid out here today, and i have wellplaced sources within the white house, telling me precisely that that is what this is. Stuart ustr says the chinese will make structural changes to their economy. And forced lou you are talking about stuart we dont know the details here. Lou you dont know the details, but you do know what the u. S. Trade representative and the president of the United States are saying. Thats good enough for me. Stuart they are sticking right there. Lou youve got news organizations quoting chinese sources, they dont say it that way, but i think our sources are the highest possible on this, whom i have great confidence in, who have achieved, i think, historic agreement here that lays the foundation for great growth, great, Great Potential in terms of the relationship. I really think this is a historic moment and by the way, as you watch these averages, i think you are going to see them move much higher because this is better than anything wall street was talking about. Stuart thats your interpretation of this. Lou it is my interpretation. Stuart its not a skinny deal. Its a much broader base with intellectual property. Lou i would say it this way. Its a foundational deal. It may be at this point only part of what will emerge over the course of decades. I truly believe this will be the foundation of decades in this relationship which you are going to see massive Economic Cooperation in very difficult times but under the stewardship of this president , you are going to see great things happen. Stuart the only thing, from what i have seen, what i have seen lou you are seeing great things happen. Stuart the only giveaway, i hate to use that word lou thats fine. He gave away 9 billion. Stuart reduction of the tariffs to 7. 5 . Lou from 15 to 7. 5 . 9 billion. You know what he gave the farmers this year because of any concern about their injury . 26 billion to the farmers. And guess what . That was out of the tariff money that he transferred to them. This is a man who does not think in ordinary common and conventional terms. He is brilliant. He has focused on this as one of the signatures of his presidency and like every other promise hes made in the 2016 campaign, he is delivering. Stuart i was up all night watching the British Elections. Lou i thought you were going to say you were watching my reruns. Stuart out of the corner of my eye, they were there. I was lou were you cheering . Stuart oh, yeah. You kidding . Lou go ahead. Cheer. Here we go. Stuart not just brexit, but the utter defeat of the socialists. Because thats going to be transferred to us. Look at the election in 2020. Capitalist trump, dynamic trump versus some kind of leftist, trump wins. Lou trump wins. The president has made it clear that the uk will be a principal trading partner and that any amount of injury attempted by the European Union against the uk will carry with it, this is his clear implication, will carry with it some consequence in the trade relationship with the United States. Dont forget, the World Trade Organization is done. It is toast. Its over. Its going to be bilateral trade relationships from here on. When you think about that, its the president s brilliant idea. It is also the best possible economic idea because bilateral means its targeted, targeted means its efficient and balanced. This is the potential to reorganize the International Trading system which is beneficial to everybody. Stuart you dont ever name your sources in the white house, do you . Lou wellplaced, i must say. Stuart 7 00 tonight, lou dobbs tonight. Weeknights 7 00. Lou i do want to say that one of the brilliant advisers to the president , dr. Michael pillsbury, will be joining us on lou dobbs tonight 7 00 p. M. Eastern. 7 00 p. M. Eastern. Please join us for that. Delighted to be with you. Stuart thank you very much, lou. Come again soon. Thank you. As you saw earlier, paraguays president arrived at the white house. Reporters are in the oval office. The president is talking to them about china and the uk election. 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Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Stuart we do now have headlines from the president. Hes in the white house, hes addressing reporters. We dont have the tape yet but ive got the headlines. Here we go. On china trade, he calls it quote, a phenomenal deal. He says tariffs will largely remain. Well use them for future negotiations, he says, on phase two of the deal. China would like them off. They would like to start immediately. Well start them soon. This is kind of garbled sometimes but essentially the tariffs remain, the president will negotiate using them later. The negotiations will cover manufacturing, farming rules, regulations, all the big things covered. The farmers will have to buy much larger tractors, he said. Dont know where that came from. He also congratulated boris on his victory in britain and said this. Could be whats to come for our election. Calling it a tremendous victory for boris. On usmca, he says it will be approved by the house. On impeachment, he calls it a sham, a hoax, and says the democrats are trivializing impeachment. Lou dobbs still with me. You just told me virtually the same thing as the headlines. Lou how about that. Im a faithful reporter. Stuart wonder how he got lou he was probably watching stuart varney. Stuart was he watching . What he said is interesting. Lou it is interesting. And it is historic. What we are talking about here has immense potential. He complimented boris but he also, i think we need to compliment the president. He has moved this through despite the impeachment proceedings, despite the alliance of the establishment, despite the clever boys and girls on wall street trying to shape this, this president has stood tall and fast on this negotiation and the beneficiaries will be americans and chinese for years to come. Because of what hes constructing. Stuart impeachment looks almost irrelevant at this point. Lou you know, the president is so magnanimous, i wouldnt be surprised if he doesnt just say you know, why dont you people figure out a nice way to get out of this and we wont embarrass you further, because it is going to be a butt whipping of the highest order that hes going to give these radical dems. They are as dumb as they appear. This is a group of people who simply dont know when they have reached the outer borders of the absurd. Stuart by the way, senator schumer said this morning that the president s china deal was a sellout. Lou schumer doesnt know diddley from squat. Stuart 7 00 tonight, more to come from this man right here. Thank you, lou. Lou congratulations on your ratings. Stuart they are pretty good. Lou we have been at it for awhile. Stuart we have indeed. Lou congratulations to the fox business network. For having us. Stuart okay. Okay. Can i say this . The prompter says more varney after this. Thats what youre going to get. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. It. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Quitting smoking is freaking hard. St, like quitting every monday hard. Quitting feels so big. So, try making it smaller. And youll be surprised at how easily starting small. Can lead to Something Big. Start stopping with nicorette stuart what a show its been. And theres monday to come. Youve got to tune into this. I had an exclusive tour of trump towers christmas scenery with eric trump. Not only did we see the christmas tree, we saw santa, i even asked him what he got his wife laura for christmas, he would not answer. He suggested that i might put him in Divorce Court if he wasnt careful so he did not answer but most of all we rode down the golden escalator together, the same escalator that candidate trump rode down to declare his candidacy way back in 2015. We were on the air at that point , we watched him come down, ill do it again monday. Neil its yours. Neil all right, thank you, sir very much. Looking forward to that also looking forward to sorting out how the market is going to sort out phase i deal with china, that is done but investors are waiting for details on this. We do know that not all the tariffs are gone, the 25 ones that have been in place remain in place, its the new ones that were supposed to kick in on the 15th that will be pushed back. It could be sort of weighing the pros and cons of that, hard to say, but apparently, they are already setting the stage for a phase ii. In the meantime, we should let, you know, the president is meeting with the president of pa raguay, so obviously this kind of thing will come up and the impeachment and the president s thoughts on all that. Edward lawrence sorting it all