Transcripts For FBC Varney Company 20180119 : vimarsana.com

Components, which will drop the dow 53 points. The market opens well, im not going to say strong but flat to higher, despite all the talk of a government shut down. They will be playing the blame game today all day long. The shutdown deadline is midnight tonight. Investors dont appear to care. Dont forget this and dont ignore it. America is now the dominant energy power. We call the shots. Boston, three to one favorite to get amazon headquarters. We had to get the bookies somewhere, we did your . Varney company is about to begin. This is like getting doggy doodoo and putting a cherry on top and calling it a chocolate sundae. Stuart thats a revolting image, in my opinion. Nancy pelosi sounding off about the tax bill. The president just tweeted this. Here we go. Government funding bill passed last night in the house of representatives. Now democrats are needed if its just a pass in the senate. But they want illegal immigration and weak borders. Shut down coming, question mark . We need more republican victories in 2018. What do you think . Are we going to get a shutdown . Give me the odds. Ashley yes. Stuart yes . Ashley i think so. I think its not going to be moved. We talked about the impact on the market. I sometimes dont forget, were in the computer age. Algorithms. And once you start getting key words popping up, there is an automatic sell function. So there could be a little blip in the market if they shut down. Even though weve had it before, not much happened, but, yes, theyre not going to get this thing done. Stuart i dont think theyll get it done. I think theres a shutdown. Liz yeah, i think theres a shutdown too. There are ten democrats in trump district; right . That trump wants. So thats the issue too. And the other issue too is that the average time of a shut down is 16 weeks. Or 16 days. 16 days. The president s state of the union is come up. Are democrats really going to hold out through the state of the union . Stuart they would love to. Ashley but theyll blame republicans because who runs the house . Who runs the senate . Whos in the oval office . Thats going to be their line. Liz that is this is the hardball bear knuckle politics right now. Stuart our opinion is, yes, they will shut it down. Liz yeah,. Stuart okay. Lets see. Look at dow futures. Up. Not that much but still up 25 points. Plenty of green right there. S p up about four. Nasdaq up as well. Now this. Ibm and American Express, theyll drag on the dow. Ibms revenue actually went up for the first time in nearly six years. But its outflow apparently fell short. American express recorded its First Quarterly loss in a quarter century. Those two stocks account for 53 points down on the dow. Joining us market watcher john lay field. Fresh off not the boat but, yes, im just joking. Honestly. Throughout the past year and a half, youve been on this program saying the markets going to keep on going up. You still saying that . I think so. Its hard to find a negative out there and one of the negativities is theres no negatives. Not much rational behind that. But i think one negatives is six to eight months out, commodities are up six to 8 in the last 12 months. China is pushing commodities higher. Stuart thats way down the road. Unless you have a geopolitical event, there doesnt seem to be anything to defeat this market. Stuart keeps on going up. Stay right there. More for you in a moment. Amazon, well, theyve narrowed down the list of candidates for the Second Headquarters to about 20 locations now. There they are on the screen. Do you live near one of them . They include new york, los angeles, dallas, chicago, boston, and toronto and a bunch more. Joining us, mike rollins. Hes the mayor of dallas texas. Your honor, boston is the 31 favorite according to the bookies. Austin, texas is second favorite at 72, and youre way down there at 201. What are you going to do to sweeten the odds . Ill put a few quit on us i think. Stuart that was a joke. The man is joking with me because he thinks im an englishman im not an american. Go ahead. Look, when we look at the questions that are asked by amazon, what they need, wall street journal did a kind of up and down score, we were number one. Weve got everything we need. Were really kind of soul sisters to amazon. Think about how theyve grown in the last 10 or 15 years, thats us. Weve created more jobs in america than any city in the United States. We know how to connect keep costs low. Our cost of doing business is so much lower than the medium. Stuart how much the mayor im sorry. The outgoing governor of new jersey offered amazon 5 billion to move to newark, new jersey. How much are you paying him . Im keeping my cards close to my vest on that. It was in the rfp, and they know that. And were not going to be outbid by number. Stuart youre one of the 20. Are you going to up your offer . Well, what im going to do is listen to them and see what they want, and then were going to make a package thats right for them. Look, these are other good cities, and its this has got to be right for the customer. All right . And theyve got issues now that theyve got to kind of work boom. Were going to listen to them. Stuart okay. Youve got big competition from the dc area because there are three locations in the final 20. You know this. Jeff bezos, you know, he has a house in dc. He owns the washington post. And amazons threatened politically. He wants to be close to the politicians. How are you going to fight that . Well, you know, im going to take him at their face value. If they wanted to go there, they would have gone there already. Los angeles is in it. Austin, denver. If they want to go to east coast time zone, thats we dont have that. But if you want to get to any place in america, go to either coast and back in the same day nonstop to any place in the world, its an easier place to do business here. Plus, weve got more technology than a lot of those cities on the list. So we match up pretty good, but it will be their decision. The customers always right. Stuart okay. I dont think jeff bezos watches this program. His politics are a little to the left compared to the politics of this program. But i know youre a democrat so maybe hopes brings eternal for dallas. Thank you very much for joining us. Appreciate it. Thank you for listening. Stuart thank you, sir. Back to lay field. Where do you think amazons going . I think newark, new jersey. Jeff bezos gave 100 million to newark schools. I think i guess the question, though, is this going to be like lebrons decision where lebron makes a decision and alienates everybody he turns down . Could this be a negative for everybody . Youre going to have 19 cities that are going to be very mad. They went through a lot of work to get amazon. Liz does break ground in dc. Trump will stand next to bezos when they break ground. Ashley probably not. Liz probably not. Just kidding. Ashley newark, by the way, 161. Stuart 161. Back to pure politics. The Consumer Protection bureau mcmulvaney says he doesnt need any more money for his agency. Doesnt need any more. Congresswoman who is on the Financial Services economy. Claudia, i cant remember any agency head in the history of the universe say i dont need more money. I love it. Its elizabeth warrens brainchild, socialism, and the fact that they have Mick Mulvaney there is contributing to the market and tremendous gains. Remember, we had the 201ks, 401 k s, im going for a 601k right now. Stuart what about the protection theyre giving us poor customers . Let me talk about government interference, then you get corruption and control of the economy by the government. Not regulating. But now look. The tax reform really hasnt gotten into play fully and youre seeing this huge up particular in the market, the Labor Participation rate, everything you talk about on your show thats been going on the last couple of weeks is because of the roll back on regulations. Csdb and doddfrank, the terrible bill passed by the democrats and problem has caused most of the stagnation in our market. Just that being there, the financial choice coming up, parts of that have now been passed in the senate through the committees hopefully good floor. Stuart to the barricades, claudia. Its a revolution. Now, ive got to ask you. I think were going to shut the government down, and i dont care. Where am i going wrong . You know, last time i was on here, i think it was a while. You said you cant get tax reform done. You remember that . Wheres tax reform . Im a republican from new york, and we got tax reform done. 95 of the people in my district, the middle income taxpayers are going to be getting a tax cut. Whats Governor Cuomo doing . Hes proposing a 1. 5 billion increase in taxes to punish the people who are getting a tax cut and to erase those gains. Now we have a government shut down thanks to another New York Legislature Chuck Schumer, crying chuck as the president affectionately is calls him. This is a schumer shut down. Those ten democrats in vulnerable states where trump won, they should be thinking twice about shutting this government down, taking pay away from our military, hurting our military personnel in harms way, taking away from a Childrens Health Care Insurance, taking away the nfip renewal, thats the National Flood Insurance Program thats affecting people all across this nation this year. Thats what the government the democrats own, and its diabolical. I think that they need to pay for this. Stuart diabolical. New word on varney company. Weve had plenty of others. Claudia, we like that. Come back and see us real soon, please. Thank you were getting things done here. Stuart ive got it. Thank you very much. Wheres the market going to open in 19 minutes time . Higher. Not by much but higher. I see green arrows for the dow, the s p, and the nasdaq. Now an aggressive statement from the pope. Hes accusing victims of the Church Sexual Abuse scandal of slander. What will father Jonathan Morris say about that . Well find out because hes joining us next. And government safety panel calling for strict, new guidelines on bloodalcohol levels in drunk driving cases. When you hear the new limit much lower limit, you might want to think twice about how many drinks you have before you get behind the wheel. More varney after this with adt, you can feel safe for only 49. 00. That includes security panel, keypad, key fob, entry and motion sensors and for a limited time, get a camera included and installed at no additional cost. Stuart just getting this in, and its important. Tech website its called recode. It says amazon is raising the cost of its monthly prime membership by nearly 20 . Thats per month to 12. 99 from 10. 99. And look at amazon stock go up on that news from one website. Twentythree dollars higher. 1316 on amazon. A Government Panel floats the idea of lowering the blood cell limit as a new strategy to reduce drunk driving debts. Ashley, what is the current level . Ashley the current level is. 08 . The commissioned report by the government would like to bring it down to. 05 . Now, before you say anything, most of europe is. 05. Germany, austria, theyve already been at this lower level. Cut their traffic debts in half because of alcohol. 10,000 people a year in this country die from alcoholimpaired driving. That number is up to 48 in rural areas, by the way, in fatal crashes. Stuart then you would have to have a very significant in the number of drinks you have. Ashley it all depends on how big you are, whether youve eaten. 150pound guy, two beers could get him to. 05 pretty quickly. Stuart really . Two beers. Ashley 120pound woman probably one drink could get her to. 05. Stuart now, this is a proposal. Ashley its a proposal. Gaining a lot of ground and, again, the u. S. Is behind the rest of the world. 120 countries have a lot less threshold than the United States when it comes to alcohol. Stuart interesting development. Ashley yeah,. Stuart ashley, thank you. Ashley sure. Stuart back to House Minority leader nancy pelosi and what she said about the budget deal. Roll tape. This is like giving you a bowl of doggy doo put a cherry on top and calling it a chocolate sunday. Stuart that was specifically she was talking about chip, the Childrens Health Insurance Program. Thats what she was referring to specifically there. Larry oconnor is with us now. Hold on a second, larry, this comes on top of the armageddon commend, the 80 million american tax increase comment, and whatever that was. Im not going to characterize it. What do you think of all of this . Shes absolutely churchil churchillian with her language, isnt she . Stuart no, shes not. This is a woman who wants to be speaker and, by the way, did i miss something . All week weve been consumed in this town over the president s alleged reference behind closed doors. Youre not supposed to use that kind of language and yet here she is with regard to Childrens Health care to doggy doo, stuart,. Stuart yes, i know. Shes kind of lost it. Heres the thing, though, its pretty ineffective. In fact, a handful of her own democrats voted with republicans last night to pass that bowl of doggy do. So she didnt do much to stop the train from rolling. Stuart nonetheless if the Senate Rejects a deal and the government shuts down, im pretty sure it would be the democrats get the deal, regardless of what Speaker Pelosi says. Yeah. I would like to think that. Its interesting to watch how the rhetoric goes. As usual, elizabeth is right in pointing out those states that trump won that now have democrats as senators. North dakota, florida, a couple of other states too because they have to present to their voters that theyre more interested in protecting Illegal Immigrants status than they are in funding the government, and thats not going to fly. Stuart well, i dont know about that. Look, i say shut it down. I dont care. What say you . Yeah. I think its been a boy who cries wolf kind of message the last several times the government has, quote, unquote, shut down. The American People have learned that it doesnt actually shut down and all those federal workers end up getting paid. Its actually the contractors who work for the government that get shafted in this deal, and i think theyre willing to stair each other down. The democrats have been saying that this was the first time in history that both houses were run by republicans and the white house was run by republicans and that may be shut down. That may be true but also a person like weve had donald trump sitting in the white house, and i think hes more than willing to stair them down across the table. Stuart if you shut down the government on behalf of Illegal Immigrants, i dont see how you avoid the blame, but they will. Larry oconnell and once again, elizabeth was right. I just want to remember that i repeat that. Shes always right. Stuart elizabeth as in macdonald. Yeah. Right there. Stuart hes talking about you. Liz thank you, larry. What a fellow. Stuart got to go. Larry, thank you. Get this. The attorney general of california says employers may not help federal immigration officials at all. You do that, well prosecute. How about that . More varney after this. Stuart now, were going to try to get to grips with this story. Employers in california could face legal trouble if they help with federal immigration raids. Okay. Let me see if i can work this out. Im ice. Youre the employer. I knock on your door. Were in california. I walk in, and i say is that an illegal immigrant youve got working there. Liz right. Stuart if you say yes, youre in trouble. Liz and i face a 10,000 fine. This is what california is now saying to all employers in the state. And theyre also going to issue new guidelines to all employers saying if you cooperate with the federal government ice agents, you better watch out what our laws say because our laws take precedent. Thats what theyre saying as well. And theyre also saying employers, if you try to verify the legal immigrant status of your worker, you could be in trouble for doing that as well. And, stuart, this comes as the federal government you know, the Trump Administration is saying were going to send ice agents into Northern California to start arresting Illegal Immigrants that are there wrongfully. But the b now it runs right up against the California Attorney general. Stuart ashley and i are shaking. Were immigrants. Ashley how can you demand rights when youre here illegally . It just boggles the mind. It makes my blood boil. Its insane. Stuart when you and i first came here, we knew dont overstay your visa. Ashley oh, yes. Stuart and if youre here illegally, youve got a problem. Ashley yeah, but we play by the rules. And the problem, john and i were just talking about this. Employers who hire Illegal Immigrants knowingly should be taken to task. Forget the ice issue. You should not be hiring Illegal Immigrants. Going to employers that stops illegal work. Stuart weve got to open the market with a gain of about 40 nearly 50 points for the dow industrials, and back in a moment with that so i got an offer on the business, and now im thinking. Id like to retire early. Oh, thats great sarah. Lets talk about this when we meet next week. How did edward jones come to manage a trillion dollars in assets under care . Jay. Sarah. So i have a few thoughts on that early retirement. By focusing our mind on whatevers on yours. 15 seconds the greatness ladies and gentlemen kaing off a remarkable week thus far a remarkable year. Above 26,000 again, futures indicate a gain of what 60 maybe 70 points when market opens and it is opening right now. Lets see where were going up were running away. Were up were oh, werent expecting that. When all dow 30 is open. We expect to be up. 50 or 60 points okay so far were down 4. But plenty of the dow 30 that have not opened. We are, however, now on the jupes side. Now were on downside. You know im