This morning 50 points but all eyes on big tech, they took a big hit yesterday, from premarket action some investors nibbling at tech stocks at lower prices, maybe buying the dip but not that much. Now the overthetop nancy pelosi describing the tax bill as armageddon and the end of the world, tried to rally democrat opposition to the trump growth agenda hardly surprising the left does not want to go into next years elections with a strong economy. Embarrassed steny hoyer the end of the world. Political bias in the Mueller Probe sure looks like it, turns out it was an antitrump prohillary fbi agent who changed the language on the email activity, from grossly negligent which is clearly legally wrong to extre bias. Theres a reason this show is three hours, we need that much time to get it all in. Varney and company is about to begin. Stuart saturday musicologists will understand why we are playing i dont want to miss a thing from the 1998 movie armageddon. Minority leader nancy pelosi on the tax bill. The worst pieces of legislation in either house but together, both pieces of legislation to come before the congress, this is armageddon. This is a very big deal because you know why . There is a hard way to come back from this. Steny hoyer looking embarrassed in the background. The president of the heritage foundation, is this the end of the world . Hopefully it is the end of the world as we know it, to move on to real Economic Growth, Job Opportunities and a new era for everybody. Poor nancy, first the obamacare bill 10 years ago, now this is the worst thing ever, she is really not living in the real world. Stuart the bottom line is the democrats are very worried about the state of the economy and next years elections, a booming economy, no inflation, they dont want that, induced panic in advance of it. I they panicked, the senior senator from virginia, one of the other sunday talk shows. On sunday he is really worried about that 1 trillion the joint committee is projecting on deficits going over the next we 10 years, where where you the last eight years when we had 10 trillion, with reasonable growth under trump wont be a deficit. The economy will grow, tax increases come in more than projected now and everybody will be better off. Stuart former clinton and obama official Larry Saunders is treasury secretary wrote, in the financial times, the conclusion followed the tax bill will result in 10,000 extra deaths per year. Will you nail that one . I will try, the relationship between the level of insurance and the rate of debt. When i hear about Tech Companies, 110, 120 years old. Im not worried but i read the Larry Summers piece, it will increase or speed up death, every day we live longer when they are closer to passing away. Get over it and get with the program. Stuart with these tax cuts. Up to four in my own optimistic, the president of heritage by january, the dow. Stuart no wonder you are popular, the heritage foundation, thanks for joining us. Where are we going to open . We will be up not that much, up on the dow industrials, smaller gains, s p and nasdaq. Lots of red arrows lately. We are looking at premarket trading. Facebook, amazon, apple down, marginal gains for alphabet and microsoft after their big losses so tell us all, why were they down . Dagen a tax bill michelle in the sausage making in dc that would hit Tech Companies hard having to do with the alternative minimum tax, the parallel tax system where you have to be sure to pay well and what that means is because of amt still in there for corporations Tech Companies will not take the are in the tax break or tax breaks for intellectual property or capital spending, the tech lobbyists going haywire knocking these things out, this is a lastminute bombshell they have to wrinkle out, that is why the tech company took its. Stuart they are not set in place yet. Wall street journal editorial for this kind of guy, the dip for the big tex, if you are worried, if you have microsoft stock like i do, half of it and secure the profits with the amount you sold. Had a great run, look at the multiples on a lot of these companies, amazon much more than the others, you like amazon as well. Longterm you like these companies, you like america, got to be optimistic about the policy framework we got moving forward. As a shortterm matter these stocks are impressive. Stuart see if they buy them today. Big names which didnt think we would do well but in the past few weeks they have done extremely well. Look at abercrombie, jcpenney, macys, up big time, urban outfitters, gap, nordstrom, 20, 26 gains since the middle of november. Is this because everybody is expecting a good solid Christmas Season . Focused on november 15th, since then some good news october retail sales, what happened since then, retail pays the highest affected tax rate of any industry sector, this thing goes through. Consumer getting a lot, consumers with tubes, are they feeling more flush as they look at toys this week and next week . Yes. Stuart they are worried about amazon until the middle of november. Celebrating a good at the margin a lot of good news on the tax front on the consumer front. Stuart not going to call this the New York Post reports people finding hidden cameras in their a air b bs. In the bedroom, the Smoke Detector seeing a hole in the Smoke Detector. There is a hidden camera spying and recording some. The owner of the condo faces felony charges for video voyeurism. Also finding hidden cameras in air b bs in book, life, and two way mirrors, some of these cameras you can get overnight with amazon, 50 and hooked up to the internet so filming people Walking Around naked and doing whatever in the air b b condos. Stuart that is a big deal. Thanks very much. The daily caller uncovering Sexual Harassment scandal, reportedly using taxpayer money to pay off a staffer he fired after she told the congressman she was being sexually harassed by his donors. The guy who broke the story is on the show in the next hour. Newbill in congress if you can carry a concealed handgun in one state, under this bill you bring it to another state no matter how strict the laws are in the other state, is that a good idea . Imagine a hit around times square, not sure about that. One congressman wants to lock up officials who shelter Illegal Immigrants from deportation. You will hear directly from him after this. Unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart the retailer autozone higher profit, better sales, good for a 6 gain for the stock. What else have we got . Free market, g3 apparel, they have come out, i lost prompter for a second. And andrew mark raised its forecast for an 11 gain. Good job. One hour from now, michigan congressman john conyers expected to announce he will not seek reelection. Ashley intense pressure to resign over Sexual Harassment allegations. Im not going to resign according to a relative, and the longestserving member of house of representatives and his grandnephew, 29yearold ian conyers says i will run for my great uncles seat. Conyerss name might not be going away. It could be called nepotism. He has to win the election, but paul ryan, this guy needs to go but best that i retire. Stuart we leave it at that. The steinli murder, imprisoning officials who shelter Illegal Immigrants. Republican indiana with us now. Lets get this clear, which officials are you talking about . It couldnt be the local sheriff, hes just obeying orders, going after politicians . If you are local, state and local official ignoring federal law, constitutionally valid law, if youre going to behave like a criminal you are to be treated like a criminal, lock them up too. Stuart do we need new legislation for that . I believe so especially in this case. I dont see it on the books, theres legislation for harboring immigrants, that could go to the Death Penalty if that immigrant later kills someone. This is the least we could do for elected officials who are not following valid law. Stuart one year from now will we still have sanctuary cities in america . We have to end st. Mary cities. Stuart are we going to have it when youre from now . Got to get this lot passed, call your viewers, we got to pass this act and get donald trump the tools they need. Stuart i want your verdict or judgment on the Supreme Court, announced the full enforcement of Donald Trumps travel ban. I say this is a win for donald trump. Not a longlasting Supreme Court ruling. 72, they look at it, the fact of the matter is they recognize the president s executive authority, many of us supported, on the right side of the law, it will validate that. Stuart you are a happy guy. The economy is growing, donald trump wins one, going after officials to protect Illegal Immigrants. Liberal politicians, got to treat them like criminals. We will see you again soon. They are suing donald trump, to shrink the size of two National Monuments in use our accusing the president of stealing land from the american people. More varney after this. Stuart not great resulted Toll Brothers, the homebuilders short on the revenue side, they have higher labor costs, raw material cost, full disclosure i did just by a Toll Brothers house so didnt help them very much. This is a classic. Patagonia sued the white house, donald trump reducing the size of two National Monuments in utah. This is suburbanites telling country people you cant use that land, you will spoil it. Your definition might be narrow. I would include urbanites, there is a reason the president wanted to fly out to utah, share this news, this is generally seen as good news, you can use the land and for people on the coast should understand the federal government owns enormous swaths, it is a monument, doesnt mean it is a unique pristine areas that will be destroyed by the footprints of man, simply means that is the designation president s have applied to huge areas. Stuart all they are talking about it local people who want to go hunting, fishing and ranching as opposed to blasting for oil or something or knocking down the mountains. Ashley go to the webpage the headline reads the president stole your land. Possible you would have some mining and some of the areas, we are talking about huge areas of the west. People would like to be able to use the land, as they have for a long time until some of these restrictions came in to be able to use the resource, that is part of life and you have to wonder, they live out there. Do they want to destroy the environment in which they live . Probably not. But patagonia is doing the right thing for their shareholders, speaking to a coastal crowd that likes the idea of a pristine wilderness, undisturbed by commercial interests. I am assuming this is a winner in terms of their marketing and they know their customers very well. Stuart i own a farm out in the country in upstate new york, the environmentalists wanted to pass a law or a rule from the epa which meant i had to get a permit to move any rock within 20 yards on either side of a running stream, i had to get a permit, had to put in place a special plan, how i was going to remove that rock and the impact on the environment, thousands of dollars just to show no harmful intent in moving the rock. What would it cost for sending a bureaucrat to check your rocks and land. The Trump Administration said that rule is not going to fly. A big reason donald trump got elected. You talk to a lot of business people, regulation has replaced taxes for a lot in terms of the biggest headache they have. Stuart look at the futures market, we are going to open the market in 41 2 minutes, we will open higher, the question of the day, our investors going to buy big Tech Companies which are currently at much lower or significantly lower prices. We will take you to wall street for the open of trading very soon. Stuart we have 13 seconds, 12 seconds to go, i will count it off, dont know what to say, 7 seconds to go, we start this trading session tuesday morning. A modest gain yesterday, the 81st high since the election, we opened 53 points higher and i got a message from a 0. 4. Slight move, nasdaq, home of the technology stop, huge drop yesterday, down this morning, this doesnt seem like we will do well on the Technology Stocks with nasdaq down. The bigname tech stocks, all of that down again. Facebook, amazon, microsoft, apple down again. Ms. Mcdonald with us this morning. Mike murphy, james freeman, starting with big tech. Would you buy any of the big tech stocks on this dip . I would buy any of them. If you look back since the rally started it is driven by tech. What you have seen the market has gone higher over the last five days, big tech has dropped by to present to listen stocks are down 5 , that is a buying opportunity because this is where the growth is, money is rotating out of tech into Companies Like retailers where there is no growth, no reason to be there for the longterm. If you want to own these companies you need to buy them. Ashley why would you get out of a growing company and jumping to something is not going anywhere. You want to take a profit, at a trade, macys trading at midsize earnings. Do you want to on macys or amazon. And and they have done extremely well. Abercrombie, penny, macys, huge gains. And we picked 6 retailers, 52 , and we have seen them go up the highest effective tax rate, tax reform will alter their profit and tax position big time. 35 average affected tax rate. It is down to 20 even, the alternative minimum tax in the house, for retailers. Would you buy any of the money . If youre lucky to be on the retailer trade, just like it was two years ago it is under siege from amazon and will continue to be. Stuart you are a tough guy, by all the text, retailer. You know what people say about people who pick bottom they get stinky fingers. Stuart murphy what a shock is that a black tie you are wearing . I am intrigued at the story. Online programs called bots back there, buying up all the hot toys and selling them on the secondary market, secondary website at higher prices. Liz on ebay and amazon a dramatic markup, robots that go online, you saw it with ticket events, sporting and musical events, they buy them and sell them at a markup. With hot toys sold on thirdparty websites, Chuck Schumer is saying stop with the gingrich robots, sorry, grinch, sorry, grinch robots. Not the gingrich that stole christmas, the grinch. Stuart the toy. As much as 1500, as much as 1000 on the secondary market. The dow not much, 33 for the dow. Individual stocks, retailer, autozone, better profits up 7 , better revenue at length end. On land end, profit and revenue, at Toll Brothers, the homebuilder not good, down 7 . Moving on, dont forget ge, like to check that still rumbling below 18 a share. It is down 40 , down 40 , wouldnt touch it with a 10 foot pole. Down 21 a share. I would like to see a bottoming process. The new ceo is in place and will be able to right the ship. I like that it is putting a bottom at the 18 range, you can do a lot worse than owning General Electric at 18. Stuart moving on to that coin, perennials, always asked about this, jpmorgan touting that coin as an emerging asset class, not sure what that means. Do you own that coin and would you buy one . I do not own it, i would not buy, anyone who has been lucky enough to be on this speculative right off should take profits, dont know where the bubble popped but it is a bubble and i believe it pops at some point. Hard to say this valuation makes sense but jpmorgan report is off base saying that coin is for real because the Commodity Futures Trading Commission in washington approved futures trading for bit coin. All that means is chairman christian carlo likes to allow free markets, not an endorsement of the value of bit coin, that is not a reason to say it will rival gold or Something Like that. This is a really cool, Interesting Technology but to say it has a value that was recently trading, i dont understand. Stuart would you touch it with a 10 foot pole . Thank you very much. Wall street journal guy, we can work wonders on a tv show. Mcdonalds, new menu. Bringing back the one dollar and got the 2 and 3 menu as well. Look at that stock. 173 per share. It is a good deal. Dagen sausage burrito, cheeseburger, any soft drink. Stuart can you walk in and pay one dollar for those items and not walk out with Something Else . Ashley probably not. They are keeping people coming and although the push is to healthier food keeping people coming in for the value. Great for the company. Stuart mcdonalds is a wellrun company, they have done very well. I remember when they were down to 100 a share, now it is 172, 173, a big gain. People like me, i want it fast, i want my seniors coffee black to go for . 53, thank you very much. Youto, hiring more reviewers with videos, there was a back lash over kid content. Youto be is owned by google. Ashley a video aimed at children with violence and sexual themes. One stat i was looking at in this story, youto but gets 400 hours of new video uploaded every minute so they had to use algorithms and computers to flag video that shouldnt be there but also add the human component, 10,000 people will start looking at this video, to catch it before it comes through. There is an age restriction on you2, who enforces that . Four of the top five most popular channels on youto buy childrens programs, how does that mesh. As with all social media, hard to catch questionable content. Stuar