The dow is going up another, what, 140 points plus when trading begins today. Its another big gain for the dow. Also for the s p. Look at it go, up another 17. The nasdaq, that looks like its going to be up another 1 . The win with mexico and the feds likely rate cuts, thats whats driving this thing. So, too, is the news early this morning that Small Business confidence has come roaring back to historic highs. That survey was taken in may, when everyone had the jitters about trade wars. Small business ignored the noise. They are investing, theyre selling and theyre hiring. All good stuff. Theres also this. Gas prices are tumbling. The National Average is down to 2. 73 and falling fast. That is another shot in the arm for the economy. I think its helping the market as well. Watch out, iowa. Here comes the president and his current leading challenger, joe biden. Looks like a setup for the 2020 election. Iowa farmers will be listening to mr. Trump after his win with mexico. Joe biden will be playing a little catchup. The latest poll of Iowa Democrats shows he has slipped a couple of points. Will he fight off the socialists today or join them . Watch out, iowa. Big show coming for you. Wait until you see what the president is saying about the fed now. Varney company is about to begin. Stuart lets start with sports and the nba finals. Golden state warriors play a kevin durant injured in game five last night against the raptors. This is a big deal. Ashley it is a big deal. Warriors star forward had been out for a number of weeks with a calf injury, had not taken part in the nba finals to this point but they said look, they practiced, the medical staff gave him the okay and this is what happens. Second quarter, he was having a great game, already had 11 points and then he goes down. Now, the fear is an achilles. It wasnt a calf, it was an achilles and the fear is mri which will be done today will show a torn achilles tendon. That is a very long recuperating period on that. It could be 200, 300 games before he plays again. Could wipe out next season. Stuart could wipe out next season . Ashley depending what the mri shows. Its such a big blow to golden state. Hes such a big part of their team. The warriors won last night despite him going out in the second quarter. Toronto lead 32 in the finals. A big blow to golden state. A real shame. Stuart thank you very much, ash. Lets get straight to iowa. Joe biden and President Trump both stumping in that state today. You better look at this poll from the Des Moines Register and cnn. Biden 24 and that is down three points from the last time the poll was taken. Sanders, 16 . Warren, 15 . Buttigieg, 14 . Joining us, chris bedford, editor in chief of the daily caller. Biden losing some ground in iowa. Could you say, would you say hes struggling . He could be. There are warning signs there because his campaign has had a couple of the oldfashioned biden stumbles everyone had been predicting would come around this time. They come around every time he runs for national office. But hes still in a very strong spot in iowa. Heres one of the things he has to worry about, though. Iowa caucuses lean to the extremes. The Republican Caucus is going to give you rick san totorum ord cruz and the Democratic Caucus is pretty far left. Thats not the lane joe biden is trying to make for himself in this primary process at all. It does leave a lot of room for someone like sanders or warren or buttigieg who are gaining right now to win. Stuart its an interesting preview of what may be the 2020 election. Its also a contrast in styles. I dont want to get too far into it but the president is the energizer bunny, the man never runs out of energy, and hes labeled his opponent sleepy joe. I think you are probably going to get a contrast in styles tonight. Yes, absolutely. One of the things biden is really going to have to do, what hes going to have to show, is hes got the energy to do it because right now, the rumor is hes a lot older or the fact is hes a lot older than most of the other candidates hes running against and he hasnt shown he has that energy. I think hes going to be riding high into the debates and those debates then will be a great referendum on how well he does and if he can convince the people hes their candidate. Stuart why is iowa important for the president . The president is there right now because its a place where all the democrats are, but also, iowa is a state thats one he worked hard to win. He didnt actually end up winning but he always said he would come back. I think iowa is leaning strongly republican for trump in 2020. Its some place the republicans won in the last election, midterm election, while taking losses elsewhere and its also been a place thats done well under President Trumps economic messaging and under his economic policies. Their unemployment is incredibly low, manufacturing is up and despite some of the farm problems and all these rumors that the farmers are turning on the president , every indication is that they are not turning and i dont know a single congressman in iowa getting phone calls from his constituents saying get rid of the tariffs. Stuart can you imagine, we are 18, 19 months away from the actual election itself and we are still engrossed in it all that time. I love it. I just do. Chris, thanks for joining us. See you soon. Thank you. Stuart back to your money. Look at this. You really have to take a look at this. Extraordinary stuff. After six Straight Days of gains, we are going into the seventh trading session and what have we got . A gain of another 150 points. Plus, this morning we got this read on Small Business optimism. Very strong, returning to the highs of what is it, october of last year. Thats despite all the headwinds from tariffs and the trade war. Come in, ed collins, author of the great book which i actually use for information. The upside of inequality. I love that title. You are really going against the grain with that one. Okay. Now, then, Small Business optimism, do you read much into that . I do. Yeah. Oh, i think thats definitely a good sign, whenever you see that, i think its an indication we will see good times ahead of us for the next couple of months. Im not surprised theyre not afraid of all this negotiation on trade because even paul krugman says, you know, hes won his nobel prize in trade, says these tariffs just dont have that big of an impact on the economy. Stuart wait, wait, wait. This is a revelation. Krugman failed to take advantage of tariffs, failed to criticize the president on tariffs . Krugman . He won his nobel prize in trade. I dont think he can bring himself to just blow smoke on that one. He has agreed in his blog many times this is just not as big as the market reacts to it. Stuart that explains Small Business taking no notice whatsoever of the trade wars and just expanding. I want to talk to you about the fed and President Trump. He sent out a tweet this morning, i will read just part of it, the fed, Interest Rates way too high, add it to ridiculous quantitative tightening, they dont have a clue. Want to take that one on . Is he right . You with him . Well stuart no, youre not. I think his argument is quite defensible. Let me put it that way. I will leave aside my fear of loose money and leave aside my belief the fed doesnt really have that much impact over Interest Rates. Did they raise rates and have a very negative reaction by the market and had to back off, clearly they did. Does that encourage imports, encourage trade deficits, it absolutely does. From that perspective, i think hes right. I also think hes playing a clever little game here which is he wants to be able to threaten china with tariffs and if that leads to slowing of the economy and the fed then cuts Interest Rates, that allows him more negotiating leverage because while the tariffs might slow the economy down a little bit or at least worry the economy, the rates will increase optimism so that will give him more room to negotiate with the chinese. Its clever. Stuart hes making sure the feds got his back. Thats what he wants. Stuart the economys got his back. Yep. Stuart the republicans largely have his back. Yes. Stuart hes going into the china negotiations with a strong hand. I think thats right. Yes. Stuart i think theres going to be a very limited deal. What do you say . Im not sure i know the answer on this. But i would say its hard to believe it can be anything more than limited. If it gets too big, the chinese are just gog ing to cheat anywa. Stuart its also hard to believe they both walk away with nothing happening. I cant see that. I think chinas economy has taken more of a hit from this than ours certainly has. They have slowed down, they have to be worried about this. I do think they are looking for a way to solve it. Stuart got it. Thank you very much for being with us as always. Thank you, sir. Why didnt we look at beyond meat. The stock is down 19 bucks, thats 11 . Jpmorgan downgraded the stock saying it is beyond its price target. I would like to remind everyone that that stock went public on may 2nd at 25 a share. What are you looking at, about 35 days ago it went out at 25. Its now at 149, down 10 from yesterday. We will check beyond meat throughout the program. Lets get back to futures. Why not. The markets going up again, up 140 on the dow and look at that nasdaq. Another gain of about 1 . Its on a tear. What a day to be watching the markets. Alexandria ocasiocortez wants pay raises for members of congress. Stay there, please. Wait until you hear her reason for that. The humanitarian crisis in venezuela, much worse. People waiting days to get gas. One man was killed while he waited on line. More on that terrible story for you. And a real bombshell out of north korea. Kim jonguns halfbrother was reportedly working with the cia before being killed with a nerve agent at an airport in malaysia. We cover it all. Varney company just getting started. Going back to the doctor just for a shot. With neulasta onpro. Patients get their day back. To be with. Family. Or just to sleep in. Strong chemo can put you at risk of serious infection. In a key study. Neulasta reduced the risk of infection from 17 . To 1 . A 94 decrease. Neulasta onpro is designed to deliver. Neulasta the day after chemo. And is used by most patients today. Neulasta is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome. Have occurred. Report abdominal or shoulder tip pain, trouble breathing. Or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes. Fatal crises can occur. The most common side effect. Is bone and muscle ache. Ask your doctor. About neulasta onpro. Pay no more than 5 per dose with copay card. Stuart the wall street journal reporting that kim jonguns halfbrother, who was assassinated in malaysia, was a cia source. Tell me more. Ashley fascinating story in the journal. Kim jongnam, assassinated by two women who put nerve agent on his face, turns out that he was, we believe, according to sources, meeting with cia operatives. In fact, thats why he was in kuala lumpur on that day to meet a cia operative because he had lived a lot of his life outside of north korea. In fact, in the chinese enclave of macao. They felt it was one way to try and get a sense of what was going on inside north korea was to make contact with him and see what information they could get from him. The problem with that, of course, is other countries would be doing exactly the same thing, including china. Ultimately, it was kind of believed he wouldnt have great information because he was not connected to the power base in pyongyang because he was outside and living a life outside of north korea. However, he was used for awhile there as someone who could perhaps provide interesting information. Stuart fascinating story. Ashley yes. Stuart you see what goes on way, way, way beneath the surface. Ashley in the shadows. Stuart ash, good stuff. Thank you. Look, in venezuela, fuel lines, nou about this, fuel lines getting longer. They are miles long. You wait days to get a gallon of gas. One man was actually killed on that kind of gas line. I want to bring in Mary Anastasia ogrady, who covers venezuela for us. It just keeps getting worse and never ends. First of all, as you know, because you are a businessman, shortages are caused by price controls. Venezuela has price controls on gasoline. Its super cheap. So you are always going to have shortages when you have basically, when you are giving gasoline away for free, you will have long lines. Now, as far as it never ends, as i told you, repeat after me, the cubans are not leaving. They are not leaving. Stuart so use force. Get the guns out. You have written about this. Okay. Theres two things you can do. Number one, on the communications side, i think theres a lot of covert stuff that can be done by not only the u. S. But its allies in the region to basically begin breaking up the control that cuba has over the cyber space in venezuela. Thats very important. This is a regime that stays in power because cuba has control over all of the Communication Networks. We should work on breaking that up. As to using force, i think the only way we use force is using venezuelans. Theres a lot of venezuelans outside of the country, they say they are ready to fight, so yeah, i agree that the allies, the allied powers, the u. S. And its friends in the region, could try to train those people to go back and make strategic strikes, basically try to weaken the regime. Short of that, by the way, short of that, nothings going to happen. Stuart is venezuela still shipping oil to cuba . They are. Stuart why dont we stop that . Well, we need ships and basically that would be an act of war if we started intervening those ships. Im not saying we shouldnt but im saying, you know, the Trump Administration has not been willing to do that. I think before we try to do that, again, we should work on breaking up the Communication Networks which is technology and you know, control over cyberspace and those kind of things. Stuart havent we started to do that . This has been going on for a long, long time. You know, the Trump Administration is very reluctant to get involved in foreign wars. He ran on a platform to say we are not the worlds policemen. I think there is some logic to that, because you know, the problem in venezuela is not just about getting rid of maduro. Its about rebuilding all the democratic institutions. This will be a huge project. If we go in there and you know, use force, yeah, we could get rid of maduro. Are we willing to stay for years to fix this country that has been so dysfunctional that it brought about this guy to power . And you know, basically, i would remind all of these people who are wringing their hands and crying about this, that they were actually supporting hugo chavez as he consolidated power. Why . Because he said im going to end corruption and im going to make people equal. Remember that . That was why everybody cheered him on. Not everybody. Stuart not everybody. Not us. But many people in the International Community cheered him on, you remember jimmy carter famously went down there and did lots of photo ops about how he was going to, you know, make things more fair in venezuela. So they have a lot to answer for. Stuart its communism is a cancer of latin america. Yes, and you dont cut it out very easily. Thats the problem. Stuart but you try hard. Dont you. I knew you were with me. You have to be smart about it. Raw power is not the way to fix this problem. Stuart next i will be a warmonger. It will be all over the networks. Thanks very much. You better take another look at futures because it looks good, up six days in a row. 1300 points up for the dow. Look at this. We are going to go up another 150 at the opening bell which is about ten minutes away. Well be right back. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company stuart President Trump tweeting about fox business again today and mexico. Maria, dagen, steve, stuart v, when you are the big piggybank other countries have been ripping off for years the a level that is not to be believed, tariffs are a great negotiating tool, a great revenue producer and more importantly, a powerful way to get to get companies to come to the usa and to get companies that have left us for other lands to come back home. We stupidly lost 30 of our auto business to mexico. If the tariffs went on at the higher level they would all come back and pass but very happy with the deal i made. If mexico produces which i think they will, biggest part of deal with mexico is not yet been revealed. China is similar except they devalue currency and subsidize companies to lessen effective 25 tariff. So far, little effect to consumer, companies will relocate to the United States. Okay. Theres a long triplepart tweet. In essence, the president is saying i played hardball with mexico and i won. It worked. Hard trump worked and we are also going to do the same with china and it will work again. I think thats the gist of the tweet, three tweets from President Trump this morning. We are glad the president is watching this show. Next, the market. Are we going to do aoc . I dont think we have time. Aoc wants a pay raise. We will tell you about that later. Bottom line, this market is going up again. Look at that. Up 150 for the dow, 60, 70 points for the nasdaq. The rally continues. Follow it with us after this. Everyones got to listen to