Company survive . Well ask the question. Facebook is the teflon stock. Bad publicity, a 5 billion fine, an antitrust probe, not to worry. As long as it makes a ton of money and it still does, the stock stays strong. Teflon indeed. 207 this morning on facebook. Meanwhile, why dont you check your 401 k . Odds are youre looking at about a 30 gain since the election of donald j. Trump. The s p, nasdaq, they are at alltime record highs and the dow will go up another, what, 60 odd points at the opening bell today. Sit back, everybody. Watch your money grow. Its fun. Varney company is about to begin. Stuart we like to get right at it these days so take another look at that. President trumps Approval Rating on the economy remains near, very very close to an alltime high, 52 . Look whos here. Fox news contributor gary kaltbaum. All right, gary, that is a big number. How do you beat that in the election of 2020 when youre a socialist . If we get to november 3rd and the markets strong and were at 3. 7 unemployment its going to be tough. I must tell you, i talk about this every day, yesterday the left came out with another tax proposal, a 2. 8 trillion Climate Change proposal that does nothing to help the climate. I dont think there is a tax they have not proposed in the last few months and i dont think thats going to sell, and they better get it right or else. Stuart okay, well have more from you at the end of the block. Stay with me, please. Now lets get to tesla. A whopping loss for the stock, down about 11 . They reported a loss after the closing bell yesterday. This morning premarket, as we showed you a moment ago, we are down 11 . That is a gigantic drop for tesla. Car guy gary is with us now. How do they turn it around . They actually delivered more cars than they made so the loss could have been the other way around had they produced more vehicles. In the future they have this china factory coming out pretty soon. Theres no guarantee they will be making money in the china factory. They have a european factory coming in another couple years. They are losing a lot of money over there. Manufacturing is tough there. This is really the issue. A bigger one is the fact its high margin models, the s and x are becoming much smaller percentage of the mix here. Last night, elon musk on the call even said the tesla truck, pickup truck, would make up a pretty small percentage of its sales in the future and the model 3 and y are going to be its big sellers, the big volume and most important cars. These are the ones you cant make money on. You make money on trucks, on luxury cars. They are moving away from that. Stuart so short term, they are not going to be able to turn this around. By shortterm, what, next six months . No, i dont see a big change. Ace in the hole for tesla is this autonomous driving. If it pulls off a miracle and makes it possible within a year, two or three years, now its decades ahead of every other automaker because every one of its cars can drive itself. Again, miracles if they pull that off and are able to deploy that. Nobody outside of the Tesla Community thinks that will be possible. Stuart we have another car company in trouble. I want your comment on this. Nissan. The wall street journal says nissan will cut, what, 12,000 jobs. This is because of the firing and arrest of ghosn, i take it. Same question, can they turn it around . Sales in the u. S. Is really the problem here. They have been after years of growth, the last two years have been pretty bad. Their truck business a shambles in the u. S. A lot of their top models like the nissan rogue are due to be replaced. Sales are starting to drop off there. Their big new model, the Nissan Altima sedan, unfortunately, is a sedan. Its brand new, came out this year and sales are down on it even though its a brand new model because nobody wants to buy sedans right now. Stuart i wouldnt put my money into a standalone car company because there are so many Car Companies around the world who can create so many cars which people are not buying. And you look at nissan which isnt a standalone. It has alliances. You look at a company like tesla and see how much more difficult it is when you start from scratch. Stuart you know what you are talking about. We appreciate that. Thank you very much. See you again soon. Thank you. Facebook, got to get to that, they are still making very big money despite all the scandals, privacy investigations, et cetera, et cetera. Jim anderson is with us. His firm helps companies with their social media presence. Let me put it to you, facebook is an addiction and it doesnt look subscribers, not subscribers, users. I will say facebook is habitforming. For some people its addictive. Habitforming, absolutely. Lots of things are habitforming which are not necessarily negative. Exercise, for instance. But those of us who are parents, who have kids with technology especially these devices, we are absolutely concerned about addiction and unhealthy behavior. I think stuart i didnt mean to misuse the word addiction. Habitforming is probably a much better idea. But youre hooked. Youre in this thing and youre hooked. Yes. Stuart part of the reason is convenience. Yeah. Stuart i dont, but if i did, get on to facebook, i could get straight into all these apps without all the passwords. Thats convenient. Remember, facebook gives you a totally or would give you a totally different experience than it gives me. Its unique to you. Its tailored to you. They look at what you do and what youre interested in and they give you more of it. Its almost impossible for it not to be habitforming and addictive in a situation like that. Stuart people come to you and say get me on social networks. Facebook, for example. Are you telling them Something Different now compared to what you told them a year ago bearing in mind the privacy concerns and investigations . It is very different although its not because of privacy. Its the competition for attention. Facebook is about 85 mobile consumption. Its all about the phone. Its the hardest real estate to get your content on. Theres only so much attention. Youve got 24 hours in a day, ive got 24 hours in a day. Everybody wants me to swipe, tap, scroll through their content. Well, theres just an almost Endless Supply of content and youve got to compete with your content for my attention on that window of time on that small screen. Its hard. Stuart what do you tell them . What do you tell them . You will appreciate this. Have good content is a great starting point. Quality content matters now more than ever. It really matters. Secondly, timing matters a lot. When are you going to get your content in, 4 00 a. M. East coast time for an east coast audience is very different than 9 00 a. M. East coast time. Whats going on, is the Mueller Report going on, todays earnings season, whats going to happen tomorrow. The world is a chaotic place and theres news all the time. You got to stuart so when i get up at 2 45, and i do, and i look at my little phone, thats why i get all these messages . You are an anomaly. Stuart i am indeed. In so many ways. Stuart thank you. Teflon stock. Say what you like. Jim, thank you very much. Look at futures please. We are going up at the opening bell but not as much as we were going to go up, about a few minutes ago. We will be up about 20 on the dow. Down about three on the s p. Somethings going on with the nasdaq and technology because they are going to be down a half percentage point. Ive got to tell you, s p 500 earnings are up 3. 8 compared to last year. Come back in, gary kaltbaum. You say thats nothing special. Ill take you on on that. I think its pretty good. Its better than expected. Thats the good news. But i keep in mind theres been a lot of buybacks which helps these earnings. I dont think they are as good as they are and i do believe we are in deceleration mode and its something to watch very very closely. Just remember, the markets up 15 , 20 this year, 3 is not going to, you know, help that along. Its going to have to go 6, 7, 8 as we go along. Stuart of all the stocks i have, i shouldnt sell any at this point, or should i . I think the markets in good shape here. I think the only bear markets im seeing right now is like in energy and commodities and things like that. As i always say, the Semiconductor Stocks lead the markets and they have just been crazy to the upside for whatever reason, as long as that continues, i think were in good stead. Keep in mind we are in earnings season now. There will be big blowups, we have a few today, but theres also going to be some real good scores. Yesterday, texas instruments, a few others really had some good moves on strong numbers. If that continues, all good. Stuart okay. Got it. Gary kaltbaum, thank you. See you again real soon. There was a downbeat forecast from ford. When you do that, youve got trouble for your stock. Look at it, down 5. 7 on ford. Its dropped below 10 a share. The dow component 3m posted lower global sales but here we go with the expectations again, it wasnt as bad as wall street thought. So the stock is up 4 . American Airlines Profit taking a bit of a hit from the 737 max jet grounding. Its up just nine cents. Thats it. Overall, keep you in touch with the market. We will go up, not much, 30 points for the dow industrials. Now, remember this video . Conservative journalist andy ngo assaulted by a group of antifa thugs . Hes working with lawmakers to get antifa designated as a terrorist group. Hes on the show to tell his story. Ponzi schemer Bernie Madoff wants to get out of jail free. Hes lobbying for President Trump to commute his 150year sentence. Heres another headline for you. President trump agrees with Michael Moore, yes, that Michael Moore. Its all about yesterdays mueller hearings. We will tell you what they are both saying about it after this. Dont miss your golden opportunity to experience the luxury you desire on a full line of utility vehicles. At the lexus golden opportunity sales event. Lease the 2019 rx 350 for 389 a month, for 36 months, and well make your first months payment. Experience amazing. Stuart we are going up at the opening bell but not as much as we thought we were going to go up a few minutes ago. Maybe 29 for the dow but down 30, 40 points for the nasdaq. Southwest airlines stops operations at Newark Airport because of the boeing 737 max jet grounding. Southwest stock is down. Jeffrey epstein found injured in his jail cell in new york city. Susan . Susan convicted ped oophilpedo alleged sex trafficker found nearly unconscious in his jail cell and was transferred to a nearby hospital. There is speculation what actually happened, did he try to commit suicide, did he fake it so he can get out of jail, was he attacked by inmates. We dont have exact details just yet or an explanation but as you know, he was denied bail as he awaits trial on trafficking charges. Stuart there was some comment this morning, why are we wasting time on a man like this. Susan i agree. Stuart i think the answer to that is we want to know what he knows. Susan right. Stuart what happened at the island where he entertained lots of young women and some celebrities. What happened. Susan powerful people. Stuart what did they do. I would like to know that. Liberal Michael Moore tweeting on the mueller hearing. Here it is. A frail old man unable to remember things, stumbling, refusing to answer basic questions. I said it in 17 and mueller confirmed it today. All you pundits and moderates and lame dems who told the public to put their faith in the esteemed Robert Mueller just shut up from now on. President trump tweeted this. Even Michael Moore agrees that the dems and mueller blew it. Joining us now, brent bozell with the Media Research center. You know youre on to something when Michael Moore and President Trump agree, right . But stuart, at the end of the day, first, we have to ask ourselves what in the world was mueller going to do other than confirm his own study that said that donald trump was innocent. He was never going to say anything more than that. His performance across the board was disastrous. I think its very interesting to see the press, its a throwback to Election Night 2016 when they all thought that hillary was going to win and suddenly trump wins and they were so crestfallen. It happened again yesterday. I thought the news media were going to break down in tears. They know, i hope they know this damn thing is over for once and for all. Stuart ive got a headline for you from msnbc. Mueller testifies under oath that his report does not exonerate trump. Heres msnbcs political analyst, nicolle wallace. Roll that tape, please. I think there were some significant breakthroughs. If the public hears one thing and they hear that he committed crimes that would land anybody else in a jail cell, and he actually has three or four buddies sitting in jail with the situation, i mean, donald trump in jail is not some incomprehensible concept. Stuart they just cant get over their contempt. That kind of coverage is just appalling. No, they cant. Lets recall that since the very beginning, since donald trump said from the very beginning theres not a scintilla of evidence because it didnt happen, guess what, theres never been one we have to remember this, stuart, its so important theres never been one scintilla of evidence yet in a study we did, virtually onefifth of the Network Coverage of donald trump since he became president has focused on this quote unquote, scandal, a scandal that never existed. Onefifth of his presidency. Now lets see. Lets see how much attention they are going to give, which so far they have given virtually no attention whatsoever, now that it is unquestionable that hes innocent, what will they do about the false accusations . I just saw pigs fly because they are not going to. Stuart you are right on the ball, as usual. Thank you, sir. Appreciate you being with us always. Thank you, stuart. Stuart back to the market. We open in 12 minutes. We are going to be up 30 for the dow but down 37 for the nasdaq. It is official. Boris johnson is the new Prime Minister of great britain. I think this could be the start, this is my opinion, maybe the start of a new special relationship between us and the brits. I hope so. Nigel farage is with me in new york. Hes going to be sitting next to me two minutes from now. After the break. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. Stuart a few minutes ago, the dow was going to be up 100 points. Now its going to be up maybe 20. What happened . Mario draghi says the Economic Outlook in europe is getting worse and worse. Not good. Boris johnson is the new Prime Minister of britain, replacing theresa may. She couldnt deliver brexit. Boris is known as britains trump. Could this be a revival of the special relationship . Remember Ronald Reagan teamed up with Margaret Thatcher . That was a pretty good special relationship. Look whos here. Fox news contributor, nigel farage. Good morning. Youre all right, nigel. Welcome to the show. Thank you very much. Stuart i would love to see a new special relationship. Is it on the cards . What has happened here is the deeper we became enmeshed in europe, we were unable to have a special relationship. We couldnt talk about trade deals or any of those things. Add to that that theresa may was always frankly a remainor, not a lev leaver. Look who we have had, kim darroch, who made those comments about trump. Right now the relationship is in a bad place. Boris of course was born in the city of new york. Instinctively he will be more proamerican than theresa may but the key to all this is he has to deliver brexit. If we get brexit, the special relationship is back on. Thats what im looking forward to. Stuart would the brits support boris in an attempt to form a new special relationship with america . Oh, look, culturally and in so many other ways, the british people are close to the americans. We want a proper relationship on trade, defense, security, all of those things. I think weve got a real chance here that we can look back in five years time and say wow, we turned this thing around. But the key to everything is brexit being delivered. Stuart i was back in britain a couple months ago, just a quick family visit. I was surprised at the number of english people, they know what i do in america, they know im a trump guy and they walked up and said very quietly you know, we could use a bloke like that over here. Absolutely. We had three years of drift. Boris johnson is now saying all of the right things. He has to do that politically. The question is, will he deliver. Hes got 98 days to the next eu deadline. Stuart you are mr. Brexit. You are heavily involved in this. Hes now singing my song, using all my lines which is great. Hes just got to deliver. Stuart okay. Stay there, please. I want you to stay with us for the rest of the hour if you would do that. Thank you very much. Stay there. Look at futures again, please. Still on the downside after what mario draghi said about europes economy. Down 20 for the dow. We will be back with the opening bell on wall street. This is the couple who wanted to get away who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. E