Is everywhere. Get this, 167,000 people placed a bet that they would be there would be a fighting incident. They won. Varney and company is about to begin. The big story of the morning was the shock of the morning. The economy contracting at a 2. 9 annual pace in the first week and month of the year. The fastest decline in five years, fastest pace in a non recession period, in 58 years. However, the stock market is up. Dow jones industrial average 61 points higher. Charles is here. Hes back, the white house is blaming the weather and less spending on health care. I you buying that excuse . Health care spending impacted personal consumption which was down dramatically, one of the biggest areas where there was an adjustment. If you obamacare heard this number and the darker cloud over what happens in the future. Rich the success of obamacare hurt the economy. Charles all the enrollees us seriously ill. This is expensive. Stuart if you have a contraction like that in the economy, you have a doubt that is up 61 points. Charles rear view mirror stuff hints for the future that didnt get a lot of press this morning on the durablegoods side. Businesses spending more money on big time items like factories, also purchasing services, managers. The market is up 63. The highest in four years. If businesses spending big time money, they see something Government Data hasnt seen except remember yesterday we had better than expected confidence and housing number we down 100 points. Stuart were 16. 78. Look at the s p, record highs recently. As of right now we are up six points at 19. 56, that is not a record high beware of 6 points. Gold staying above 1,300 an ounce barely budging today, 13. 19 is your price. This is the yield on a ten year treasury, all the way down to 2. 54 . When you get a lousy gdp numbers a hint is that the economy slows down, down go interest rates. I have a big name, you know it, General Mills is down 3 , a big drop. Disappointing sales. Struggling with serial and yogurt sales down 3 . Watch out apple and amazon, google is expected to unveil box that its Developers Conference that starts in the next hour. Google and another 6 points at 5. 78. Mcdonalds testing and ordering apps. Some see this as an antidote to the 15 minimum wage. We will see. Mcdonalds at 101. 48. Now really big winner, binds and noble, that is a surprise to me. Tell me how much it is up and why. Nicole a new high is what we should start off with, it is of 7. 5 and 22. 13. This is on the news that by the end of the first quarter, as they will in fact be shredding their Retail Business and of course the ceo saying this would bring the best shareholder value, stock jumped on the news of this split which is why you are seeing this today. You know the nook has had trouble, revenue dropping for the nook and everything digital the goes with it. Those have been dwindling so the separation ultimately should bring more shareholder value. Stuart thanks, billionaire environmentalist tom spiers pledging 100 million to democrats who support Climate Change legislation. Than the one hundred Million Dollars bottom access with none other than the treasury secretary, jack lew will meet with him to talk about the Economic Impact of Climate Change today. Robert bryce is in manhattan and joins us now. Am i being a little crass and crude . 100 million buys you a seat at the table with the treasury secretary . I am being acidic. How do you see it . I would be the last to call you a cynic. What is remarkable about this new reports that hank paulson and Michael Bloomberg have released, just yesterday called Risky Business and how the white house is framing this is it is more a message from the climate catastrophe but there are no policy answers or solutions, no hints as to what exactly they want to do with regard to climate. The journal quoted the ceo or the chairman, gregory page who said he signed on to be part of the project, specifically because they didnt offer any solutions. Is a remarkable turn of the events. Stuart this is not an exchange of views. Is not a comfortable little sitdown, this is the environmentalist saying are you in line with us. We have 100 million here. We are only going to spend it if you are in line. This is these guys laying down policy to the treasury secretary of the United States of america. That is the way i see it. What is clear, when you look at it and you read what the white house calculus is, they clearly see Climate Change as a wedge issue in the Midterm Elections possibly to appeal to Young Democratic voters but what is remarkable to think about what has happened here, just look at the release of the statistical data last year and compare that to the latest move by the epa who earlier this month released their Nuclear Power plant and their objective is to cut 700 million tons of co2 emissions from the u. S. By 2013. Last year alone, global co2 emissions rose by 600 million tons in one year, global emissions rose by 90 of what the Obama Administration wants to cut over the next 16 years. Stuart your position has always been that the way we get around this problem, what the environmentalists are proposing will not work, is not worth it. That is your position. You are not a Climate Change denial. The u. S. Is leading the world and reducing its co2 emissions. We could in the last ten years over 400 million tons, six times in absolute terms what has happened in germany which has spent one hundred billion dollars subsidizing renewable energy. The u. S. Is showing the rest of the world how to cut co2 emissions and replacing call with natural gas to the extent that it is possible but we dont have any sway over what is happening in asia and the middle east and africa. It is a global warming, not u. S. Warming, not u. S. Climate change but global Climate Change and yet we have no leverage with the rest of the world so i find this release of the latest report another example of how the climate catastrophe is trying to instill fear but theyre not offering any real world solutions. Stuart we hear you, thanks for joining us. Lets get to the irs story. We have the latest fox news polls on that issue. Look at this. 76 say they believe irs emails were deliberately destroyed. This is not a split along party lines. Look at that, 63 of democrats think the emails were destroyed intentionally. Joining us from washington is allison bobber. I am surprised that this is such a bipartisan disapproval. I am surprised this issue goes that far. I am not surprised. I actually really was not surprised when i looked at this information because any time you are in an investigation you have data go missing or damaged and will always look suspicious and everything about this situation and the questions surrounding the email have defied logic. They said actually we lost six months of her emails at staffers surrounding her, that was suspicious. Was suspicious the irs didnt retrieve emails from a six months backup server and is suspicious they delayed telling congress what happened so when you look at those and couple down those questionable things it is not surprising you see a lot of people this doesnt add up to me. Stuart i will tell you why i am surprised. The issue, the loss of emails didnt receive that much coverage in the national media. It is a story that has been ignored yet you still got this bipartisan disapproval. You cant deny there has been no coverage. It is interesting because most democrats said this was a nonissue selling is interesting to see apparently their constituents are taking a different view of it so what this shows us is initially may be some people saw this as a political issue, they might be looking at it differently because there are a lot of things that like i said earlier dont seem to add up and for a lot of people they cant reconcile or justify how someone who is chief of that taxexempt renovation, her emails go missing and there is no way to recovery and the irs had to wait months to tell them. Anyone can say usually when you are waiting withholding information that is not a good sign so something looks fishy and im not surprised people recognize that. Stuart the news of the day they agreed to pay 50,000 to the National Organization for marriage, conservative groups they said the irs release their private donor list to a rival group, a bunch of liberals, they did this treaty is ago and only the irs only has to pay 50,000. That is a minuscule amount of money compared to what they have actually done here. And most people would say any amount of money is an indication of guilt and i dont think anyone would necessarily be wrong. Dont think you could fault anyone for making that assumption because of what we spent the last few minutes talking about, the irs hasnt done anything of late to warned people trusting them. People hear about that settlement and even though it seems small land it is small in the broad scheme of things i cant people look at that and they think wait a minute, is this an admission of guilt . We cant blame them if they are going to take them away from this settlement. Stuart we will take an admission of guilt if we can get it like that. Thanks very much, see you later. Half the people of detroit not paying their water bills so the city cut 46,000 off, no water. Now activist group has appeared to the United Nations and says access to water is a human right. America is in default on that. Former ambassador john bolton coming up next on that subject. Your awkward video of the day, perhaps the year, democrat republican lawmakers joining hands on capitol hill singing we shall overcome to one of the 52 anniversary of the civil rights act. When you see you have to believe me i dont think they really want to be there. Certainly not Holding Hands and singing. Watch and listen. [ female announcer ] we love our smartphones. And now telcos using hp Big Data Solutions are feeling the love, too. By offering things like onthespot data upgrades an idea that reduced overcharge complaints by 98 . No matter how fast your Business Needs to adapt, if hp Big Data Solutions can keep wireless customers smiling, imagine what they can do for yours. Make it matter. Let that phrase sit with you for a second. Unlimited. As in, no limits on your hardearned cash back. As in no more dealing with those rotating categories. The quicksilver card from capital one. Unlimited 1. 5 cash back on everything you purchase, every day. Dont settle for anything less. Ill keep asking. Whats in your wallet . Stuart look here, lousy gdp numbers but the market doesnt 62 points. The price of gold, hardly any change, 13. 19 an ounce, the price of oil on is the week, america, will export leavitt, first time in 40 years, 106 a barrel, a little. Check the price of big media companies, decision of the Supreme Courts 63, moments ago against imogen lloyd webber. It says that company, aereo, cannot rebroadcast Network Programs without paying for them. Rich edson has more on this. Got to run this by you to see if i have got it right. The Supreme Court says you cant take content from cbs, rerun it, make a profit from it and not give Something Back to cbs. Exactly it. Aereo argued they were a glorified d v our service and every customer was a sign a small little antenna, a piece of a hard drive space and all they read doing was taking an over the air broadcast signals and recorded for people. This green court found your of violating copyright law and essentially rebroadcasting it, that cant stand. The Obama Administration argued in this case. Aereo is not a legal entity, what is doing violates copyright law but what we want you to do is to rule narrowly enough on this, dont touch cloud computing. We agree with the solicitor general, the administration and other novel issues not before the court as to which congress has not plainly marked squarely presented they are not going to decide on so leave cloud competing alone. They have this narrow lead and say that Business Model doesnt fly. Stuart thanks very much, we appreciate that. Welfare Rights Groups in detroit are appealing to the United Nations over water shut offs for president s with delinquent bills. We brought this to you yesterday. Here is what you had to say on our social media page. Chris says water is a right, clean water is the bill and you got to pay for it. Matt says take buckets to the lake if you want free water. If you went to clean and delivered to your house and that good pressure that costs money. Joining us now weighs former un ambassador john bolton, a trivial story here, there is an issue where detroit activist groups go to the United Nations, they are trying to shame america in an antiamerican forum. What do you say . You are on the mark. It is even worse, this is a silly, trivial episode because obviously nothing is going to happen. It reveals of broader feeling on fromemtictis answers they want y orgas aniniolneationsou w a favohor t l i yowa dba warmf an tl gontres,th theefcan majof they to inatna. Ofpects thetitr gh to wateia stua ian tve tshingan. Hereretsratia few months ago. John kerry says the fall of mosul was a complete surprise. What do you say about that . Hid we knowbo thifo haisicatio ihinkuslyhe oformaon hot decss iiseafromrrys circs th h yinhemss in vintaerusegy depd00 a he thfft aidin in gerous theision on againt flated anit simply doesn adeate attention to acan natiol urity unle sittion is writing hi aant aid it. maybe thesident is the voterthk. Ion to what i am n sing a pol on thi am military volvement i iraq ey want sout dhe presidens doi exa th. Ey probably dont wa either and i dont favor military intervention although that is what obama is doing. Here is the more basic point. Foreig policnt b d pub a dresstole i tnk tpresids aer onjoainie is ill t nacurity is. Stua has for ining an dissses dive beeen to adrsith e cl ayo can pbly gete nd tre ithenn ce thy real a assoaty mbs, the ry cse. In hillary saying that the irs scandal isnt the real scandal which the Obama Administration build saying the obamacare is a flawed law that needs to be faxed and hillary is the person to fix it, were going to see more and more of this as hillary goes into post Midterm Election mode and declares for the presidency which i think she will do. She will put more and more space between herself and obama. Stuart that was ed klein discussing his new book blood feud which details the growing divide between the obamas and the clintons. Not all of you appreciated mr. Kleins point of view. Roland said, quote, where else could you find edward klein, a dried up right wing lackluster writer promoting a book with about hillary with no sources, on varney and company. If you watch the interview we did ask about his Anonymous Sources and he said he has never been questioned about their validity before, never successfully challenged. Listen to what former clinton adviser doug shoen said about the new book. Are you buying the premise of the book that there is indeed a blood feud between the two . Yes, id buy it. Stuart he went on to say hillary will run for the presidency and guaranteed she would be the democrat nominee in 2016. Lets go to the market, up 57 on the dow and i have a stock that is moving up, a new high you are looking at, very big names stock. They have an improved outlook that does the trick at 126. Some primary results to report this morning. A win for the republican establishment in mississippi, senator corcoran defeating his tea party back challenger in a tight run off. Mcdaniel not conceding. He is waiting in he is weighing whether to challenge the results. Listen to the combative speech he gave to his supporters last night. They can take some consolation in the fact they did something tonight but once again compromising, once again reaching across the aisle, once again abandoning the conservative movement. Stuart when he is referring to a lot of democrats who crossed the line and voted for corcoran in the republican primary. That is what they did. New york city what you are looking at is 22 term democrat congressman Charlie Rangel defeating his challenger who is refusing to concede. Charlie rangel has held his seat in Congress Since 1971. Charles is with me, he looks like he wants to say something. Charles what was interesting was Charlie Rangel and cochrane interjected the tea party as a nefarious organization looking to harm black people and obviously it worked in mississippi but the idea that worked in harlem where there is no tea Party Presence is amazing and tells you the hatchet job the media has done on the tea party. Stuart successful hatchet job. Demonized them. After the break an update on obamacare. More than a quarter of the sign ofs have Serious Health conditions like diabetes and Heart Disease so who will pay for this . We have the answer in a moment. And it is a story everyone is talking about, louis whar as fighting an opponent during world cup and is not the first time he has done it. We will update and detail the bite in a moment. Fourth of july is coming, and that means this, this, and definitely this. So if youre looking to buy a car, dont wait because the savings have already begun. Just make sure before you buy to go to truecar. Com or use the truecar app for guaranteed savings. Happy fourth of july. My dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take my warfarin every day. But it looks li