President trumps criticism . Yesterday the president called for lower Interest Rates just like our foreign competitors. Event that far from now the market opens, interesting on the day impeachment hearings to start, stock prices are out at record highs in the dow jones will be down about 80 points. Closed unchang. Statistically unlikely, but it happened and s p 500 down about a, nasdaq down about 20, no serious selloff at the opening bell a halfhour for now and then there is this, extraordinary scenes from hong kong overnight. Battles on the streets. The city, paralyzed the Central Business district shut down. Schools closed. Its open warfare, a revolt against beijing, serious stuff. You are about to see a important day. We will find out if the democrats really can convince voters that President Trump should be thrown out of office and we will find out if the economy can keep growing in the stock market keep rallying. Varney co. Is about to begin. Stuart moments ago we set it, its open warfare in the streets of hong kong. There may be implications with china trained, political implications and senators are pushing for eric though, but in my opinion the real significance is the destruction of a basket of freedom and that is a terrible thing. Susan lee, more on this, please. Hong kong society is on the brink of a breakdown, total breakdown in the largest stock market and therefore the fourth largest Financial Capital in the world. Third straight day of disarray, talking about right outside central, the main part of the city and this is where the banks are situated, where most of the big foreign multinational are and as you see open warfare on the streets with Subway Service stalled as well. Kids are from going to school and offices closed and as a result the stock market is down another 2 . Two out of three days the stock market has seen major decline and when money moves like that its when people really pay attention. Stuart at this point its attention its reporting whats happened, the implications and what follows will come shortly, but right now this is warfare. And the worst violence weve seen in five months with two people shot monday. Stuart we have both lived there come a work to there, terrible thing. Very terrible. Stuart less than an hour from now, we will see the first impeachment hearing in more than 20 years in joining us mark green republican from tennessee and a member of the House Oversight committee. Opinion, full of opinion this morning took my think we will get bogged down in legalistic details turning off anyone except trump haters. Where you come from, sir this thing will get into a quagmire quickly and whats frustrating presses adam shift is the one who said it would hurt the country. This would be damaging to the country if this was a partisan impeachment and thats exactly whats happening i guess he doesnt care about hurting the country anymore. We are in it and today starts the schiff show. Stuart do you think voters will be convinced on the basis of these hearings at the president should be removed from office . Not at all. Theres no substance here. There is no quid pro quo they dont like that word so they had gone on to bribery which essentially you ought to have a quid pro quo to have a bribery. Everyone in america has accepted the process, which you described aptly in your intro is unfair and violates the constitutional protections of due process, facing your accuser, all those things have been thrown to the wind and they are moving forward so the process and the substance, this thing fails on both of those in the American People will see that. Stuart thank you for appearing with us. I know its important for everyone and you took time for us and we appreciate it. Thanks, stewart. Stuart President Trump took a shot at the Federal Reserve yesterday in a speech at the Economic Club of new york. He wants lower rates and he was them now are joining economist john wilensky. That was a big taunt from the president to the fed yesterday in the fed testified. Will he respond . I think he will tell us listen, if the economy doesnt pick up speed i should say Business Sales if they dont start again speed soon the fed will have to cut rates, no question. The way the press the president is wrong on this issue that we begin to see some very substantial meaningful pickup in the rates of growth for growth for Business Sales. Stuart what im looking for is where is the economy going in the future and are the good times going to continue to roll . I think the fed can afford to allow the good times to continue to roll right now inflation seems to be well contained. Theres no reason for the fed not to go ahead and lower Interest Rates so we can keep moving. Unemployment rate lower and we could keep expanding business activity. Stuart what you make of the president as he repaired yesterday to the europeans with their negative rates where the lender pays the barrio. Theres a reason for these rates are cueto went it because it so lousy, those economies are barely growing by maybe 1 annually and thats the case for some time we dont want negative rates are that type of growth. Stuart could it be forced on us . If they go to negative rates, they are just pushing money out of the euro and into the dollar which hurts our trade position. I think we would only be forced to bring our rates below zero in the event that the Dollar Exchange rate appreciates by so much relative to the euro that we have no choice, but we are not there yet. Stuart you are an economist. You see this economy just keeping on rolling for the foreseeable vote future; right . I think i see a growing through 2020, no sign of a recession. Stuart growing through 2020. Into 2021. I dont think there will be a recession prior to the 2020 election, unlikely. Stuart thank you, sir. My pleasure. Stuart day one for the disney plus a streaming service that was yesterday had a few glitches lauren, what happened and has a been fixed . 8200 glitches at the height with a few hundred recorded now folks had trouble streaming certain shows. It was a bust launch for disney im a but not a failure because there was much demand for their streaming service. What will be challenging for disney is the transition. Are they a tech company that they had to deal with glitches . They bought a streaming company to help this go smoothly. It wasnt entirely successful, but that is something they did not use the to think about and also the change in their business model. Us get you to the theater and the themepark and now wanted to just sit home on the couch and stream our stuff come as a transitional time. Stuart apple tv plus, in talks to add a former hbo executive. Is that a big deal . The ex ceo, guess very big deal because if the report is to he is the guy behind game of thrones and others and apple tv needs him. Stuart at ts warner media will launch its new streaming Service Called hbo max launching in the spring. This is big because my daughters watch this show. Whats it about, bring it back and show . They are talking about it. They had to get the six main cast members on board, so at the end of this year netflix no longer has friends. Who gets it for 425 million . Hbo max in time for their new streaming Service Content with a builtin audience. Your older or younger daughters . Stuart all of them. I grew up with friends, but younger kids didnt, but they seen reruns on netflix and other sites so its that new audience. Stuart i have watched it so many times that i know the scripts for several of those episodes. Who is your favorite . Stuart schwimmer, the one who ross. Stuart unlike the one where he is suntanned and the one with the white teeth. I think its the same one where he over tends and has the white teeth. Who was ross dating on the show . Stuart jennifer aniston. The characters name . Stuart rachel. Its one of my daughters names. I do remember these things. We just spent a minute talking about friends and is up we are about to see the president impeached. Thats what people care about what he comes to streaming, real people shows. Stuart it matters, important stuff. Bigmoney, by the way 400 million for streaming rates. Stuart for a 20year old show, a lot of money. Seinfeld, same thing. Stuart allie baba has okay to list shares on the Hong Kong Exchange for the stock is down in new york because that might dilute the new york shareholders i own a some of that jerk smile direct club, that down after its first earning report going public, not a rosy forecast. 10 a share. I have forgotten where it went on the ipo, but way above that one. Of the stock is up 4 . Some of them are red or white. Stuart originally they were always black and i like them. I had one. What happened to it . Stuart it was too big for me so i get it to someone bigger than i. It was 800 bucks, i remember that. Check futures, we will be down but not that much, 95 the dow jones, 10 s p, 29 for the nasdaq. Disney plus as we said launched yesterday in their big thing is animated films. To compete netflix has its very own animated movie. Netflix going for the youngsters. We have the director and the first look at that movie coming up. Google getting into finance. Is partnering with the banks to offer Checking Accounts we have details on that. And Hillary Clinton says she is under enormous pressure to throw her hat in the 2020 ring saying many, many, many people want her to get back in. More varney co. After this most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. Stuart lets open pandoras box. Looks like google may be getting into banking. Offering Checking Accounts to consumers. The latest Silicon Valley heavyweight to get into finance and banking. At they are going to launch accounts partnered with citigroup and the credit union at Stanford University codename cachet. Guess this is it googles the latest one to get into banking and finance. We had a course face trying to launch crypto and libra and then amazon looking into offering Checking Accounts. What do they do with the data . Is the most important part, do they protect your data . Is their privacy when it comes to Financial Information and how important that is because it goes back to our livelihood. Stuart heres one more, senator warner says google fits bit deal needs a lot of scrutiny. Im sure does especially after the latest federal increase inquiry launched into google and its partnership. Its been basically loading that the million of its patients. Dot into the cloud in partnership with google, but they have access to lab tests, i mean very sensitive personal data and they also bought a fit that four, 2. 1 million so basically senator warner says we need to review this and review google if they are getting into banking before they launch into new businesses when there is no regulation against it stuart everything is out there, just everything. Theres this one, the starbucks chief executive was in chicago for the opening of the worlds biggest starbucks he was there, spoke to him, come on in, jeff. What did he say about the economy and super spending . Unlike his predecessor, Kevin Johnson doesnt want to run for president and he said anyone who thinks that economy is in trouble they are thinking wrong. He says the economy is in great shape here and in china to take a listen. So thus far the us, i think we see very healthy Consumer Sentiment. Reporter worries about the future . Look, we have been business 49 years and have had to navigate microeconomic and geopolitical situations and we will in the future but now i think we see a healthy consumer. He says there is no backlash in china even though us and chinese officials may be arguing about trade there is no backlash against starbucks in china with 4100 starbuck outlet chart outlets in china and the biggest one in the world is now here in new york, but i dont even drink coffee. Stuart you should. Its lost on the. Jeff, thank you. A look at futures on the day one of impeachment. How will they open and are they related . Dow jones about 90, s p nine, s p 29 and i dont think its related to the impeachment hearings thats a real stretch to relate the two, but we will be down. Lots going on as we talk impeachment hearings starting at 10 00 a. M. Eastern. J powell from the fed at 11 00 a. M. And politics and money coming together, thats what we do and thats why you had to stay with us. We are over the whole ball of wax. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. 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Giving you more choice and control compared to other top wireless carriers. Save up to 400 a year when you switch. Plus, get 50 off when you buy any new lg phone. Xfinity mobile. Click, call or visit a store today. Stuart dare i say that Hillary Clinton has left the door open for a 2020 run, tentative. She says shes under enormous pressure from many, many, many people to jump back in again. Lauren . Shes probably look at joe biden who is the moderate choice or what they thought would be and hes not doing well in the polls and mayor pete is at the top of a new poll in iowa, 37 years old so biden has been a disappointment and now Mike Bloomberg is saying this is maybe my time and Hillary Clinton is saying the same. Two things to note about hillary as well as mayor bloomberg, they are not that radical. They would come in and they are not these leftists candidates that Bernie Sanders and Elizabeth Warren, so there is a riff in the party, infighting and the party. They dont have their candidate yet. Stuart seems to be chaotic. 10 candidates have qualified for the next debate november 20, with another six to want to get into that debate. We have do ball patrick former governor of massachusetts who may jump in and former attorney general eric holder may jump in. Bloomberg is registering all over the place to get an. Thats chaos. Yes, so with 18 potential candidates for the democratic nomination i think it comes down to who has the biggest coffers, who can outspend everyone else. Stuart bloomberg. In terms of getting their name out there. Stuart all these candidates will spend an arm and a leg, a fortune to make themselves known way before the actual election. Yes, i mean, we are still 12 months out on the actual votes and i think by march there will be a shakeout with a closer look at who actually has tracks. Stuart march for sure. Now this, this is the first day of these impeachment hearings. This from capitol hill, Speaker Pelosi arriving on capitol hill just ahead of the impeachment hearing. Heres what she said, we have a responsibility to keep as custodians of the constitution, we are defenders of our democracy. Im prayerful, thoughtful and actually sad today that our country has come to a place where the president , the president doesnt understand what article to does not say that he can do whatever he wants, but he was not above the law and he will be held accountable about was from Speaker Pelosi as it she walked into capitol hill to attended the hearings today. We are going to take you to wall street in a moment. We will be down not all walk, down 90 in the dow jones, 10 s p, 32 nasdaq i dont think this minor impeachment and has more to do with what President Trump said about china trade yesterday. We will be back vo the moth without hope, struggles in the spiders web. With every attempt to free itself, it only becomes more entangled. 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