Brandnew high right there and the nasdaq, poised for another 30 , 30point gain, 9,000, getting close to 9,300 actually, the latest rally very well received the china trade deal, signals new economic relationship between worlds two biggest economists, formers, manufacturers, Tech Companies and they all get help with this and the economy likely insulated from my threat of recession this year. Theres more trade help on the way for the market as well, Mitch Mcconnell says the senate will pass usmca legislation at 11 00 oclock eastern time this morning, so in a matter of days, america concluded deals with four new partners, mexico, canada, china, japan, all good stuff and theres a lot more to come, here is a tease for you n a moment you will hear exactly what senator warren said to senator sanders in the Heated Exchange right after the debate, you know, its fascinating to hear socialists call each other liars, stay right there, its coming for you, promise, Varney Company is about to begin. I think you called me a National Liar on national tv. What . You called me a National Liar. I dont want to get in the middle, i just want to say, hi, bernie. Good, okay. Stuart who is that billionaire . Tom steyer. When parents are fighting and you say, look, dad, i drew a fire truck. [laughter] stuart we shouldnt be laughing like that, but i am, holland hill can with us, what you saw was dramatic split within the Democrat Party between progressives and the split is bigger, the whole party is split, they are split along ideological lines. Theres a war, theres a civil war but should never play out in a personal way on on National Television the way that Elizabeth Warren has tried to do here and this isnt about being offended, the fact that shes dropped 8 points in nevada, plummeted in iowa and shes seeing her path to victory to democratic nomination getting very narrow and this is her way of elevating herself to the top of the discussion in that debate, otherwise she was irrelevant. Stuart reminds me of the split back in 2015, 2016 between hillary and bernie that was a bitter fight. This is even worse, if youre confronting Bernie Sanders on stage like that, i mean, that was brutal and it was embarrassing and unprofessional and a party that needs to demonstrate unity at this point, theyre just continue to go rip themselves apart. Its getting worse. Stuart you love it. Well, yeah. [laughter] stuart wait a second, the senate is going to pass, what, the north American Free trade deal coming up at 11 00 oclock this morning, but, you know, the democrats keep claiming that they could do a better job, they can do better job, listen. We can do much better than trade deal. This new trade deal is modest improvement. It will give relief to farmers, it will give some relief to workers, i believe we accept that relief and we get up the next day and fight for a better trade deal. Yes, it has been improved, it is not perfect. Theyll be no trade agreements signed in my administration without environmental, environmentalists and labor at the table. Stuart what do you say that, holland hill . No trade deal signed in his administration, the leadership have heard people in the midwest clambering for some solution to their communities being gutted by trade deals that send their jobs to china while simultaneously importing the cheap labor that drives down wages, both parties have had a chance for decade to come up with a solution and joe biden when he was in the white house, they did nothing, it got worse, trade deficits spiraled out of control, immigration continue today pour across the border driving down wages, democrats arent going to do about this, the first president that has the gut to do this in decades was donald trump. Stuart when you first came to this program you were a bernie supporter . I was. Im a working class, thats who i want to advocate for and bernie spoke to that and i was a democrat and i didnt like anything that he said but between him and Hillary Clinton it was a binary choice, they are getting increasingly radicalized and obsessed with the culture and politics of division, dividing us racial lines. Not only a supporter but work for the president s Reelection Campaign and work every day to help reelect him. Stuart holland hill, welcome back, here in new york. Absolutely. Stuart the president just tweeted moments ago, one of the greatest trade deals ever made also good for china, our longterm relationship, 250 billion will be coming back to our country and we are now in great position for phase 2 start, never anything like this in u. S. History, usmca, its right there, itll pass the senate at 11 00 oclock this morning, usmca, look at Futures Holding up nicely, thank you very much, indeed, 8 on the dow, 10 on the s p and 3 on the nasdaq, gary, market watcher of the day joins us now, the rule surely when you have a meltup situation, get out the way, is that right . Yeah, or you get run over or if you are stocks like tesla, youre getting murdered. Combination of tons of cash, accelerating economy, earnings are coming back and Central Bank Liquidity is doing the way, by the way seasonality, the bear market is the last thing half an hour right now and until that changes, you go with it. Stuart what do you make of the suggestion from larry kudlow that there may be tax cuts coming either this year, if you can get them through congress, or next year after the election of donald trump, is that a plus for both the economy and the market . Well, its zero chance this year, but if the republicans can get the house next year, keep the senate and the presidency, i suspect they will put more on the table and, look, all you need to go back is the last 3 years what happened with the economy and why it really accelerated, tax cuts and big regulatory cuts, letting the economy keep more of its capital throughout history its worked and working well again, that Going Forward, nothing but good news for the economy. Stuart 30,000 on the dow, when, gary . 2 00 p. M. [laughter] i think we are going not withstanding, we have to get scare days soon and we have to have down days, only 3, 3 and a half percent at this point, probably this quarter or the quarter after and then we will take it from there day by day, for me its about earnings reports, earnings look okay, nothing special. Stuart gary, thanks for being was, see you soon. Look at lulu lemon, they came out with rosy forecast, the stock is up another buck 40 at 2. 44 a share, as for target its upper just a fraction, 24 cents, it was way down yesterday after reporting weak holiday sales, not much of a comeback for target, we are still moving higher for all 3 averages, nearly 90 for the dow, 11 for the s p, 35 now for the nasdaq, its onward and upward for President Trump, he signed the china trade deal, now hes working on those tax cut, tax cuts 2. 0, hope to go hoping to roll it out during the campaign, more trouble harry prince and Meghan Markle telling them theyre not welcome there, i dont know why but we will find out, now we will bring Speaker Pelosi on impeachment, roll tape. And it would be done in fairway, in a way thats solemn, prayerful, i solemnly and sadly open the debate on the impeachment of the president. Stuart so why is a somber and prayerful speaker smiling while signing articles of impeachment . Get this she was handling out commemorative pens in gold, yeah, we will have more of this after the break, ashley, thats a promise, we will be back. Stuart the tax credit for tesla buyers ended in california at the end of last year, now we find that new tesla registrations in california are being cut in half, thats not helping the stock premarket, its down whopping 23, 4 and a half percent. Speaker pelosi as weve showed you not sounding so solemn about the impeachment process, roll the tape, please. The integrity of our election has taken us to this place. We were making progress for the American People, progress in support of our constitution. Make it very clear, this president will be held accountable. Stuart i meant to show you Speaker Pelosi joined the signing ceremony all smiles, signing commemorative pens, taking selfies with impeachment managers. I honestly didnt kind of like that for a solemn occasion, congressman republican from alabama joins us now, i didnt like it, i just thought that was wrong, what about you . Good morning, stuart, well, basically its this, the socialist democrats hypocrisy and deceit knows no limits, they have been lusting over the impeachment of donald trump since before he was even sworn into office, it was an election, theories fell apart and they have ukraine hoax that does not meet the constitutional requirement, treason, bribery, high crimes or misdemeanors, yet they are forcing it on the American People with allies, cnn,msnbc and other leftwing outlets in the Mainstream Media. Stuart what do you expect in the senate . I hope that we will have justice and a fair trial, whatever that might be, let me be clear about something involved in the constitution, the constitution does not allow congress to lightly trash the votes of the people who have elected a president of the United States, so the framers of the constitution set a high bar, it has to be treason, it has to be bribery and cant just be any crime or misdemeanor, it has to be whats called a high crime or misdemeanor and what is the word high mean under these circumstances, it means the betrayal of the United States of america in favor of a foreign power, if you look at the articles of impeachment, they have failed to make out a case for that constitutional requirement and as such it ought to be dismissed but maybe they will go pass the dismissal stage and have actual trial with witnesses and i will differ to the good judgment of Senate Colleagues but what the democrats are doing is a sham and effort to trash 0 million votes 60 million votes. Stuart you sound angry. Everyone is angry about the effort to defraud the American People and to trash the lawful votes of over 60 million americans, yet the socialist democrats seem to believe they can do this with impunity, i hope that the voters will take them to task in 2020, time will well. Congressman brooks, alabama, good to see you. My pleasure. Stuart yes, sir, republicans calling for democrat senators running the presidency, the republicans want them to remove from impeachment process. Literally they cannot sit in judgment on the very president they seek to replace, we will show you candidates shes referring to. Senator sanders, klobuchar, warren and michael bennett, we dont talk about that much but there he is as well, shes saying how can they really be impartial in any kind of vote, senators by the way to be sworn in by Justice Roberts and nobody really expects them to recuse themselves, however, shes making the point. Stuart shes making the point, theyll be tied up in the senate for the duration of the trail. Some have said is that going to benefit the front runner joe biden, yes or no. Stuart might be a way of tamping down the argument with Elizabeth Warren and Bernie Sanders, who knows. We are on the subject of impeachment and listen to this, jeopardy contestants could not identify house intelligence chair adam schiff. Ashley hilarious, should have been under the recovery most forgettable lawmakers but category u. S. Representatives and the clue was 153rd of california house delegation, they showed the picture, cricket, cricket, 12,000dollar clue. Yes. Intelligence committee chairman. His name is adam schiff. [laughter] by the way, lets play, we should explain the sound on the tape. Stuart yes, sorry. This would have been from october but he was very much in the news and so on and on and didnt register. Those contestants are supposed to be way up on all kinds of they are amazing. Stuart adam schiff is a california congressman, represent part of la and santa barbara. Thats no excuse. Most unforgettable lawmaker. Thats the category. That would be funny. Stuart lets move on, look at futures, we moved up a little bit more now we are up about 90 for the dow, 34 for the nasdaq, remember when Elizabeth Warren falsely claimed that she was fired for being pregnant, we have the sound. I was visibly pregnant, wished me luck and hired someone else for the job, i was visibly pregnant, wished me luck and hired someone else. I was visibly pregnant and he wished me luck and hired somebody else for the job. Stuart why should we believe her claims that Bernie Sanders said a woman cant be president. Yeah, we are all over this one all day today. Hey, saved you a seat. This rounds on me. Hey, can you spot me . Come on in. Find your place today, with silversneakers. Included in most Medicare Advantage plans. Enroll today by calling the number on your screen or visit getsilversneakers. Com car vending machines and buying a car 100 online. Vented now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. The president directed me to produce what we are calling tax cuts 2. 0. It will be published sometime during the campaign as a message for future trump Economic Growth policies, its on middle class, i dont want to do any specifics because there are no specifics and we are pulling it together. Stuart okay, no specifics, but we do have some idea of the kind of tax cuts. Our sources are saying reduce payroll taxes but you heard larry kudlow say this is meant to help the middle class if, in fact, it it is put through, itll be part of it and in earned income tax credit being increased and, again, the point to support the middle class, remember in 2017 when the Trump Administration last big tax act, people said, great, that helps corporations which it did and helped rich people, didnt do enough for the middle class in theory this is the answer to that, details will be released during the president ial campaign. Im sure they will. Look what you get. Next tuesday World Economic forum kicks off in duvos, im not going to be there but the president will be. Ashley the president is expected to go, the last time he was expected to go you remember he had to cancel because the government was shut down, this time hes expected to be there. Ironically, though, by coincidence irans foreign minister decide today cancel, its going to be all about the green revolution, the threat of Climate Change, Greta Thunberg will be there, i wonder if she will throw auditory look at the president. Stuart we will be up right from the getgo, new records coming almost across the board here, stay tune for this. Stuart seconds away from the opening of this market, jack is with us, dierdre and ashley webster. [laughter] stuart jack to you first, it took 40 trading days to go to 28 to 29,000. Yeah, only a few percent. I stuart i ask when do we hit it. Are stuart right from the getgo we are up 120 points. Its a sea of green, alltime for the dow. We are up 138,000, 29165. Can i revise my forecast . Stuart show me s p, yes, it is, 3,300 on the s p, straight up. Half percentage point gain, not bad, how about the nasdaq composite, this is how we find out how good is technology. Very well is the answer, 4. 57 , alltime highs, all the cross the board. Ashley we have trade deals done and usmca coming up and latest data continues to be strong, as gary kalbaum says get out of the way. Stuart nasdaq above 3,900. China trade deal signed yesterday, tax cuts being dangled in front of the electorate for this current year, anything to add . [laughter] thats good enough, right. I would add that prices are not crazy, people are calling this the meltup, this is no meltup. We can always point to a couple of instances but for the market as a whole have been building for the past decade, layer on top of last years results so we are moving gently higher. Its been a good january, has it not . Now we are up 150 points on the dow industrials, google, look at that, 1443 is your price on google, if it gains another 2 bucks thats a new trillion dollar company, the third american trillion dollar american behind apple and microsoft, that is a new alltime high for microsoft, 164,029. Can you saw me big techs, they are all up on fabulous run, amazon is up 16 bucks, microsoft as we told you, apple now at 3. 14. All right, jack, can the big techrunup continue at this pace. Amazon will be the biggest cast generator in america in just 3 or 4 years, its going past apple most likely, apples valuation is getting up there, its not the fastgrower it used to be, you mentioned alphabet, facebook, show me companies with this valuation that are growing this quickly, companies that can grow the top line. Microsoft you talked about and apple they are ear buds which sold amazingly well. Microsoft at 164 and i sold most of the stuff, 159. Stuart 5 bucks per share. Im sure you still have somewhere. I hear you. [laughter] stuart can you put that up there, its way down, below 500 points and you will tell me why. Ashley registrations in california which is a bellwether for the rest of the country, down 46. 5 in the last quarter year over year, 7500 bucks now gone away, once you hit 200,000 sales of your car those credits starting to away, the tax benefits have gone away and registrations have gone way down. I think they caught a downgrade from Morgan Stanley, i havent seen the note yet, there migh