Of people working. And throughout the week, our trade guys will be meeting their chinese counterparts in shanghai. Add all of this up, it looks positive for your money as we kick off the new week. The two democrat debates will dominate the week in politics. Tuesday and wednesday nights, cnn hosts. That should be interesting. Don lemon, a trump hater, is inexplicablejy a moderator. Stay there, please. Congressman nadler calls the president disgusting and racist. Its a big show. Varney company is about to begin. Stuart we got the video. Violent protests, more violent protests over the weekend in hong kong. The residents angry over the citys autonomy. Take me through it. Susan this is an escalation in the confrontation, first backtoback we have seen since they started these protests started in june of this year. The police are taking more aggressive tactics, firing tear gas, rubber bullets. Also, the protesters are taking it more seriously as well. They have started what they are calling starting these fires in occupied roadways as well. So both sides not backing down. In fact, its getting more intense, more scary and the fact you are bringing in the gangsters which are seen as a second tier law enforcer for the probeijing camp is getting ugly. Stuart xi jinping, chinas leader, has to be worried about this. Susan absolutely. Think about this. This what is the International Gateway was to china, hong kong. If all this international money, these Multinational Companies that have been headquartered in hong kong, start pulling back, which they have, by the way, according to the American Chamber of commerce, can you imagine what that means for business . What kind of message does this send for the rest of mainland as well that you can stand up to beijing and there are no ramifications . I think they are going to probably take a look at this and see what they can do. Stuart good point. Xi jinping has some trouble. Got it. Thank you. Now lets get to profits. Big names are going to be reporting this week. Beyond meat, thats not necessarily a big name. Its a sensation. Apple, exxon, they are among the big names reporting. We are about halfway through the profit season and thus far, profits are up 6. 6 compared to last year. I call that pretty strong. Brian westbury joins us now. Lets talk for just a moment profits. Are the numbers going to continue to be fairly strong . Semiconductors are weak, we have some weak numbers coming from the energy sector. Semiconductors have been weak because compared to last year, it was a bitcoin bubble and everybody was buying chips and semiconductors to run those mining operations. This year, those prices are down a lot and thats not happening. The other thing is that oil prices from last year are lower, so those two sectors are weak, but otherwise, youre right, halfway through the earnings season, we have really positive numbers, somewhere between 4 and 6 the way we measure it and remember, the conventional wisdom was saying that earnings were going to fall 2. 5 so they were 6 , 7 or 8 off on their numbers. Thats why the market is up and it wont stop. By the way, its doing this without a rate cut. We are going to probably get another rate cut. Stuart interesting. Quick look at the tenyear treasury. The yield right now, just above the 2 level. Wall street is expecting a quarter point rate cut from the fed on wednesday afternoon. Look, i think we are going to get a lot more than that later this year because the europeans are aggressively cutting rates, and we have to follow suit to some degree, dont we . Well, personally, stuart, i wish we wouldnt cut rates. I do not believe 2. 375 Interest Rates are too high. Thats not stopping any business or any bank from doing business. So i wish we wouldnt do it. By the way, heres one of the key things that i think about. That is what we are teaching is we are teaching people that the Federal Reserve can fix china, can fix europe, can stop the stock market from falling even though its not falling and that teaches people socialism. If you think about it. And i dont like that. I dont like the idea that people believe the government can come to the rescue at any point in time. What really drives growth is entrepreneurship, innovation and creativity. I dont want to count on the Federal Reserve to goose the economy. Stuart i still think you will get a few more rate cuts later this year and early next year to match the europeans but thats not opinion. Quickly, before you go, the july jobs report comes out friday morning. Whats your number . Number of new jobs created, what is it . Probably somewhere around 180,000, 190,000. Remember, these numbers that get revised all the time, theres a huge margin of error, theres 100,000 on each side, but this economy is strong. Initial unemployment claims are still well below 225,000. That is a strong economy. One of the interesting things, those initial claims, they come out every week, they are one of the true realtime leading indicators of the economy. Stuart i saw that. They show the u. S. Economy is in good shape. Stuart yes, it does indeed. Historic low level for the firing indicator, as i call it. Thanks for joining us. See you again soon. Lets get to the house judiciary chair, jerry nadler. He says President Trump richly deserves to be impeached. Listen to this. My personal view is that he richly deserves impeachment. He has done many impeachable offenses. Hes violated the law six ways from sunday but thats not the question. The question is, can we develop enough evidence to put before the American People so we have to do this whatever time frame there is, and we are doing it now. Stuart all right. Joining us now, jason chaffetz, author of the new book power grab. Why is nadler doing this . He surely knows that hes not going to be successful with an impeachment debit. Dont you love the way he does this . We have to impeach him, im sure of it, we just havent found any evidence. They just had this mueller hearing, they have no new facts, no new witnesses, they dont have facts to put before the American People. He said that in the interview with jake tapper. Im still trying to find some evidence to be able to do this. He is flailing, he is pandering to the far left of the party. They just went on a sixweek recess. Nothing is going to happen. But the true the benefit or the problem with this, i should say, is the opportunity cost. If you watch Varney Company you are pretty savvy, you understand opportunity cost. What the jiudiciary committee i not doing by chasing this rabbit tail over here, they are not dealing with immigration and other issues that really have to be dealt with. Stuart President Trump announced over the weekend that dan coats would be stepping down as the National Intelligence chief. The media says the president drove him out. Is that true . I dont think so. We owe a lot of gratitude to dan coats. His service as a senator, he served for years in a highly intensive position as director of National Intelligence. But lets remember, John Ratcliffe is highly qualified. He was a finalist to become the attorney general, hes a former u. S. Attorney who prosecuted solely on terrorism cases. Hes been a pivotal member in the house judiciary committee, on homeland security. He looked over cybersecurity issues. Hes an excellent, excellent choice and its a good time for a transition. Stuart give me 30 seconds on trump unleashed. Because i think the president is about to be unleashed. Muellers behind him, impeachments behind him, the mess is behind him. I think hes coming out swinging. What do you think . Hes got legs behind him, hes stronger politically than he has ever been. Hes had this cloud over him, its behind him now and we are moving on all cylinders. The economy will continue to rock and hes going to take the fight to the world and make sure that america is first. Its his strength and its what hes doing. Stuart jason chaffetz, thank you for being here again. We appreciate it. See you again soon. Check futures. Its monday morning. Where are we going on this market . Well, we are going up, not much, but we are going up 19 points maybe for the dow, about six for the nasdaq. Flat to higher at the opening bell. You see their products in the Grocery Stores all over. We are talking about goya foods. They make beans. They are the bean people. They do 1. 5 billion worth of annual sales but they are private, they are a private company. Why dont they go public . We will ask goyas president. Hes on the show, later this hour. Next hour, President Trump holds a signing ceremony in the rose garden for the 9 11 Victim Compensation fund. When it happens, you will see it. The president is tweeting about the 2020 race already. Here it is. If the democrats are going to defend the radical left squad and king elijahs baltimore fail, it will be a long road to 2020. The good news for the dems is they have the Fake News Media in their pocket. The democrat candidates holding two nights of debates. Start tomorrow. Is this make or break for joe biden after his weak performance in the first debate . We will ask that question. Varney company monday morning just getting started. I d the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. carrying up to 50 times its tbody weight. Essly marches on. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now stuart pfizer is a dow component. It will merge its offpatent drug business with mylan, thats the generic drug business. We have pfizer down on that 3 but look at mylan labs, up 13 . Big week for the democrats and their president ial candidates. They have two nights of debates. Matt schlapp is with us. Welcome back, matt. Chair of the american conservative union. Obvious question. Is this make or break for joe biden . Well, you know, stuart, the air of invincibility is over for joe biden. He was the clear frontrunner and now hes leading the pack, which is still a good position to be in. I think if he has another wobbly performance as he did in the first debate and he seems a little out of it, i think its really going to be rough for him to recover. But if he hangs in there, remember, we have a long way to go. We have six months to go before votes are cast. Stuart is it going to be whos going to be the major target here . Joe biden or President Trump . You know, thats a great question. I think for joe biden he would probably rather it be President Trump. For all the other Democratic Candidates they are still aiming squarely at joe biden. They know they have to weaken him further to give one of these say younger candidates a chance. Maybe bernies not younger. Maybe thats inaccurate. Stuart do you think theres any chance that the candidates will rein in their far left policies, their far left ideas, whether its the Green New Deal or ending private health insurance, you name it, will any of them walk that back a bit . Stuart, this is the question, right, which is you have asked the right question. If you look at polling, theres a reason why these democrats are going to the socialist left and its because its what the heart and soul of their party wants. Their nominating process on the democratic socialist side is all made up of these activists that want to see the government solve all of these problems in society. Of course, we know they wont work but thats what they want. So this is happening because the activists in these early states are demanding socialism, so these candidates will not change their point of view. Stuart i think thats electoral suicide. Am i crazy or what . Well, when you have a frontrunner who can afford to think beyond the primary into the general, they think rationally. There are so many candidates, think of it, they are filling up the stage twice, and their whole goal is to figure out how to get the brass ring of nomination for their socialist party. In order to get that nomination, theyve got to be hardcore left. The only thing thats a little different about that is the africanamerican support. Joe biden has done very well with africanamerican supporters. They tend to have a little more conservative views on social and family issues. The domination for the democratic party, a big piece of that is where do the africanamericans go. Stuart this might be the one occasion in the last 25 years when i actually watch cnn but thats another story. Stuart, one and done, okay . Stuart yes indeed. Matt, thanks a lot. See you again soon. Good stuff. Iran reportedly intends to restart activities in the heavy Water Nuclear reactor. If this is a threat it is who are they threatening . Ashley the europeans or the remaining signatories of the iran pact who are still in the deal after the u. S. Pulled out last year. Iran is really feeling the pinch of sanctions and they are trying every which way to try to regain Something Back for their economy. They say we are going to ramp up our Nuclear Activities unless the remaining signatories of this pact come together and help us, in other words, try and offload some of these sanctions, try and bring them some relief. What this tells me, of course, is what the u. S. Has done has really, really put the pinch on them. Stuart i cant see boris johnson, Prime Minister of great britain, i cant see him doing the kowtow of iran. Ashley he will be on the u. S. Side of this for sure. Stuart all right, its monday morning. How will we open this market . We will be up, not much, but up maybe 20 odd points for the dow and six for the nasdaq. Playing video games really, really paid off big for one pennsylvania teen. He made that young man, he made millions by winning a fortnite tournament. What a story. Weve got it for you next. Stuart here we go. President trump on the tweet machine. Here is the latest from the president. The fed raised way too early and way too much. Their quantitative tightening was another big mistake. While our countrys doing very well, the potential Wealth Creation that was missed especially when measured against our debt is staggering. We are competing with other countries that know how to play the game against the u. S. Thats why actually, the eu was formed and for china, until now the u. S. Has been easy pickings. The fed has made all the wrong moves. A small rate cut is not enough but we will win anyway. The fed deals with rates this wednesday. To the fortnite championship. This is extraordinary. A teenager walked away a millionaire, multimillionaire. Tell me more. Susan hes 15 years old from pennsylvania. He is solo champ at the fortnite world cup held in new york city this past weekend. His prize money, 3 million. Not bad for a 16yearold. Dont forget global esports revenue generated 1. 1 billion. A lot of players were in their teenaged years. They make six figures on average, six figures, in your teenaged years. Not bad. Compared to 3 million, the u. S. Open tennis championship, the winner takes home 3. 8 million. So 3 million for a 16yearold, not bad. Stuart who would have thought . Susan dont forget, global video and electronic games revenue excluding esports, 152 billion business. Stuart when i retired im going to play fortnite. Quickly, this is fascinating, United Airlines going high tech trying to help some passengers get through security. I dont have to show my i. D. Or boarding pass . Ashley yeah, basically what this is, either through a fingerprint or iris scan, if you belong to this technology, you can bypass the person asking for your boarding pass and i. D. That line can get pretty long at various times. You go straight to the xray machine. Not like you can bypass the tsa all together but it gives you a head start. Stuart if you can bypass that line because its a line to show your i. D. And boarding pass. Ashley right. Its 179 for the year. Delta already has a 7 stake in this. United will waive some of these fees for its most frequent travelers. Anything to get through. Stuart 179 a year. Would you do it . Susan it gets you past security as well, yes. Otherwise, no. Ashley you have to put your bags through xray. Susan thats the part that takes forever. Stuart no, standing in line for i. D. Id do it. The futures market shows a gain. We start the market up in about three and a half, four minutes, we will be up 30 on the dow, up five for the nasdaq. Well take you there in a moment. Jardiance asks while managing your type 2 diabetes why think about your heart . Because with my type 2 diabetes, im more likely to have a fatal heart attack or stroke. Lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event. Because type 2 diabetes is more than a1c. Wowthese are great answers and thats why theres jardiance the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known Heart Disease. Because jardiance can reduce my risk of dying from a cardiovascular event. And it lowers my a1c, with diet and exercise. Andits the 1 prescribed pill in its class. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, now what do you think . While my a1c is important, theres so much more to think about. Ask your doctor about jardiance today. Stuart can you hear me . I dont know. Can you hear just the music . Ashley just the varney theme. Stuart the remake made disney the big