Transcripts For FBC Varney Company 20170717 : vimarsana.com

Transcripts For FBC Varney Company 20170717



russia, russia, hurting his agenda. mr. trump wants to come back strong. investors seem to approve. 21,637, friday's close, 26th record of this calendar year. we'll open higher again, only just. this monday morning, how far we go and we're off to a start. and the world of money, don't you love it? "varney & company" is about to aga again. stuart: i'm going to call it a muted open for the stock market this morning. look, no selloff after last week's series of records. this, by the way, is profit reporting week and that's going to be important, especially for the big tech companies, we'll open mixed this morning, but no selloff. look at the price of oil, $46 a barrel and no impact on the stock market this morning. how about this, blue apron falling 8%, that's premarket, okay, down to $6 a share. is there an amazon link? >> following a news report at that amazon filed a trademark application for prepared food kits. so amazon is now the juggernaut getting into blue apron's space and it's now trending down, blue a-apron, 33% dropping below the ipo, they wanted to intro at 17 and now it's toward a third of what it had wanted. amazon getting into at-home delivery kits for food and it already sells tyson prepared home kits and amazon may have its own trademark, home meal kits. >> and let's stream the amazon effect. we've got another. this is from tech crunch. it reports that amazon may be working on a new messaging app. it's called, what is it? >> it's called anytime. the tentacles goes further and further in our lives. and amazon teasing the launch of a service, a messaging app, anytime. surveying customers about the service. it will give desktop and mobile users, the ability to make messages, share photos, play games, make a cup of tea, you name it, it will do it. another area that amazon is moving into. and taking over, anytime. >> i'm going to stay on the subject of amazon, and when you can get me the shot there. and-- >> amazon, and this is stuart varney this morning. anything, but amazon, over everything. judge napolitano, welcome back to the show. two weeks in italy, i think? >> good to be here. yes, absolutely. stuart: while you were away, all kinds of pressure saying, look you've got to rein in amazon at the other big tech companies, too rich, too powerful and too much money. can they legally be reined in? >> yes, yes, look it, if this type of argument, i've not yet seen being made by lawyers or legal scholars, i've seen it being made by market people, you talk about the new app. . >> president trump it taking the initiative, the lead on tax reform. it's working on the rollout. trying to sell it to the public. coming in on national review, he's going to barn storm across the midwest in a matter of weeks, selling, getting out front of tax cuts. >> they're going to wait to see what happens with tax reform win or lose. if the president does this, it will be a sign that he realizes the strategy for health care reform had limited success and he didn't push health care reform, he didn't go on television and answer a lot of questions about it. tax reform is near and dear to his heart and he wants to come out and ceo's will support him. >> he's looking for ceo's to come out and support it, for local and state government officials to come out and support it, he wants the supporters, the base out there, shouting and screaming, we're for it. it sounds like a pretty good strong push to me. >> it's necessary. the mid term elections are usually decided by the economy, can the current high stock market and the economic job increases, can they be sustained? the best way to sustain them is comprehensive tax reform that lowers corporate tax rates and creates incentives for businesses to grow. if tax reform fails, you may see a sputtering economy and trouble for trump. >> do you think that the party is nor -- more united on tax reform than health care? >> yes, you have a fifth column basically trying to sabotage it because they want the medicaid money and addicted to it. and as a result the republican party is more divided than it should have been. stuart: it's amazing how far investors have gone to bid up stock prices even though you have trouble with health care reform. liz: $3 trillion in stock values since the president won and consumer confidence has gone up. i think it's tied to tax reform. stuart: you're a nonmarket person, what do you make of this? >> i'm in the market. stuart: but you're not in the paid to analyze stock market. >> that's why i'm usually more right than wrong because i'm not paid. stuart: do you own the microsofts, googles, apples of these words? >> i bought them years ago and i did not buy them at these prices nor would i. stuart: did you sell them? >> no, didn't buy enough. stuart: did you know that one third of the entire rally in the s&p 500 is the result of five stocks, one third of the entire rally, the value thereof is five stocks. we find it incredible, we do. >> just like 2000 we have a new tech bubble and it's based on a few mature companies now. stuart: you're on dangerous ground there, son. >> you can't last forever. stuart: a bubble? do you think it's a bubble? this is not like the dot-com's. >> that's valuations cannot be sustained forever. stuart: okay, on that note we'll go back to politics. the dow as we keep saying, still near record highs and by the way, the president is tweeting about it. what did he say, e-mack. liz: stock market at new all-time highs. working on new trade deals that will be great for the u.s. and its workers. so, canada, mexico, china, south korea and the u.k., and reportedly where the administration is looking toward for new trade deals and should be noted at g20, there was a side meeting with the u.k.'s theresa may and the president said quickly we'll have a trade deal with great britain. stuart: he's sounding positive, is our president. and venezuela pivoted into a nonofficial referendum vote and here is the question, is venezuela now looking at civil war and what should we in america do about it? well, we'll deal with that shortly. first, a warning for your next weekend cookout. sabrett hot dogs, 7 million pounds of them recalled after bone fragments were found in the product. they were marketed between march 17th and july the 4th. cheer up. ♪ ♪ ♪ ♪ >> well, you're going to sit on the convenient in a moment. a historic moment for roger federer breaking the-- he won to tie the men's single, record-breaking wimbledon title. ashley: most successful man in wimbledon singles history. he's thrilled because wimbledon is his favorite tournament, he said. last year he limped out of wimbledon and didn't take part because of a knee problem. and people said he was going to go off in the sunset and what a great player he was. and pete sampras in 2000 won seven times and we know welcome renshaw in 1889. and covered it is an a cub reporter. he'll be 36 next month and a classy guy, very likeable. stuart: tears from both people, men's single finalists. tears for both. i did feel bad for venus williams who did not win the ladies title, but came close. ashley: she did. stuart: a totally different subject. this is called is segue to venezuela. millions dealt a symbolic blow to nichololas maduro, putting a blow to his plan. how american consumers unwittingly fund terrorists. from the consulting firm, asymmetrica. welcome. >> there are people advocating for weapons for the opposition, that's a mistake because you really will have civil war. stuart: wait, who wants in america that we should send weapons to the opposition? >> there are some very right wing people, lobbyists. stuart: in the administration at this point? >> the administration is taking advice on it. i'm speaking out that that should not be done because once the opposition has weapons, the government really will kill them. stuart: what can we do? >> stop doing business with the regime. they're about to crackup. i give this regime 60 to 90 days they are out. the military has issued a letter to the osf saying they will back the current national assembly, that they will abide by the constitution, which means the current people, the referendum yesterday means that they're losing-- heading to abyss with the july 30th vote that's going to make venezuela into cuba. venezuelans don't want it. stuart:'s he not going down without a fight. he's going to arm the them against the people on the streets and then you'll have demands for arms as well. >> the mlth military is not engaging in the violence and they're start to go negotiate already and after yesterday's vote they're negotiating more. they will he put him on the plane the way they did with the last military dictator in 1998. stuart: you think it's all, but over? >> i don't see how it could go object much more. he's going to send his thugs into the national assembly to remove them by force and put-- then you have had a clash, a bloody august and by then, we will be done. stuart: what takes the place of maduro and socialists? >> okay, we need a transitional government unfortunately we'll have to take some of the commanders, and make that now, not say too long and have a transitional government a mix of the different parties, with defense secretary. interior minister, vice-president and then call elections within 30 days. stuart: you probably can't say this or agree with it, but what about the cia having a quiet word with some of the generals in venezuela and saying, here is a plane ticket to america, just don't shoot your own people. stuart: well, i'm sure there are people trying to do that. i'm sure there are people in the u.s. government. i know for a fact that putin has even come out against maduro. stuart: he did? >> he had a private phone call. russians calculated that this is done and they have billions of dollars of interest, and the chinese, they have also backed away. the companies, they don't want to see their investments blown up. they're starting to back away and plan for what comes next. stuart: it's done and the end will be nasty. >> the end will be very nasty, but hopefully new elections before the end of the year. stuart: vanessa, thank you. we appreciate it. you come back. >> thank you very much. stuart: ann coulter running into problems with the unfriendly skies. find out what she had to deal with. that's coming up for you. h.b.o.'s smash hit game of thrones, so many people watched it, oh, that's-- . [laughter] >> i didn't realized i starred in game of thrones. i've never watched. liz: you're on the iron throne. stuart: i'm on the iron throne. ashley: where you always wanted to be. stuart: yeah, yeah, yeah. get rid of that, please. we'll be back. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. potsc(in unison) drive russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. 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[vo] progress is seizing the moment. your summer moment awaits you, now that the summer of audi sales event is here. audi will cover your first month's lease payment on select models during the summer of audi sales event. hit could be the next big thing i should totally get that domain name... get your great idea online too... get your domain today, and get... ...a free trial of gocentral from godaddy >> all right. 25 seconds to-- 20 seconds to the opening bell on wall street this monday morning. it looks like it's going to be a pretty flat opening. that's interesting. bearing in mind all the record highs that we hit last week. in other words, we'll open flat after a series of records, no big selloff. also, when you go up and up and up, the market comes down on a monday morning, not this week. looking at an opening bell, we rung it, down 11 points, down, know the that much in the early going. 10, 11, 9 points. some red shall green, it's a mixed bag. bottom line, no big selloff at this point. remember, please, it's the beginning of earnings week when the big companies tell you how much they made or didn't make over the past quarter. that will influence stock trading throughout the week, especially the big five tech companies. there you have it, we're 30 seconds in and down just 9 points, that's it. full screen for you, we have with us ashley and liz, of course, keith fitz is with us and welcome back todd horowitz. we'll get the second quarter financial performance on the big companies. first quarter was fabulous. keith, what do you say about the second quarter, how is it going to go profit-wise? >> i'm looking for a pretty darn good quarter. despite the high jinks out of washington, the numbers are good for defense, the medical that we talk about frequently. stuart: todd horowitz you're much more than a commodities trader. you're across the field here. what do you see about second quarter profits? >> good morning, stuart. i think that the profits will be good except one of the things that we have to look at, the companies are contracting and not growing. we're not having enough jobs. yes, their earnings are going to be great, but the overall growth of the economy is shrinking because the big companies are gobbling up everything and reducing their own costs and expenses. that's where this is coming from. if we continue to contract, we are not going to have good jocks. we will full employment and that would indicate a false bottom somewhere. stuart: interesting. liz: first quarter 15% growth rates for earnings for the s&p 500. this quarter 6%. what's parring the growth rate? half of it is the earnings sector bombed out the first quarter last year. quarter to quarter comparisons are not really clean right now because the energy boom is running really high under president trump compared to how horrible it was last year. stuart: plus, a small gain in profitability is expected for this-- >> that's correct, 6%. stuart: small gain. take a look at the stock market since the election. all the main averages are way up. since last year, whopping great big gain, 21% for the nasdaq since the election. todd horowitz, if the president makes progress on tax reform, how high will we go? >> i don't eknow if there's a lot more room here. and assume we're working on hopes and dreams, if they can get all of these programs done. if they don't get them done, i think we're set up for a little bit of a correction. whether or not we get it or not, that's another story because there's still the chance for yield. the overall setup. a lot has been priced into the market and more likely we'll see a little more of a correction before we go higher. and i don't think that will be affected immediately. >> your take on the question. if we get tax reform on the growth agenda, how high does the market go. >> we get 5 to 8% for correction. this is why traders are not selling off to your point when you open the show, they can't afford to be out of the market if there's land making decision out of the white house. >> we deal with every single day, and every show deals with amazon, always. several stories on amazon this morning. >> blue apron, down big with on talk that amazon is launching a rival service, it's down a fraction over the 7.8%. then we have avis, going to let you book a rental car, and the amazon echo, we're going to report a new messaging app, it's called anytime. come back in again, todd. you're not happy, you're not comfortable with amazon. you're not bullish on it, are you? >> i think we're a great company. i use them all the time and i think over time they'll be good soon. and i think that they're good, but i believe, as i-- i texted or e-mailed you a couple of weeks ago, 990 and came down to 940 and now back up. i think there's more if it goes lower, but eventually it will climb higher. i wouldn't bring in new money here, i think it's too overpriced at this point with the market conditions we have, i'd more look to buy lower later on. i don't think it's the right time. stuart: i've got a laughing elizabeth mcdonald with me. liz: i love that he said that amazon could go into on-line dating. the amazon alexa, you say, anybody free on saturday night, alexia? anyone? anyone? >> don't laugh. starting a messaging app, that's huge. look at facebook for heaven's sake. it's big. the stock is at 1007 as we speak. enough amazon for the moment. h.b.o.'s app crashed last night. thousands of people, maybe more than thousands tried to log on to watch "game of thrones" season premier. did you watch, ash? >> i did not. stuart: good. liz. liz: yes, and i watch it with subtitles, i want to capture everything and i'm going to watch it tonight. stuart: subtitles. liz: you see dialog you don't hear, you miss a lot of dialog. stuart: you've got me there. okay. let's move on quickly, to netflix. they've got a popular series narcos. they start september 1st and netflix reports financial situations and profits at the closing bell this afternoon, liz. liz: i've gone through the balance sheet and doing the math on it, they are borderline, it's going to sound tough. insolvent. $20 billion in debt. stay with me, half their debt is off the balance sheet things like buying content. only half a billion in crash, securities on the balance sheet. again, $20 billion in total debt. half is off the balance sheet. they have to sell themselves to apple or disney and netflix is saying we're going into countries around the world. countries around the world, people there would not pay $10 a month. there's a lot of pirating going on overseas, cheaper content services overseas. netflix, i think, is in trouble. stuart: well, well, well. first thing i'm going to look at when i see the earnings reports this afternoon is how many new subscribers did they bring in? >> it's the money they're spending on content. stuart: todd, are you with us. >> i think they're in trouble as well. i agree with liz. they've got great programs, but they don't have enough capital to push it through and they're having trouble with their fees and slower than they were on the up take. stuart: what's your point, keith? >> absolutely, functionally insolvent and liz nailed it. they're a one-trick pony. they don't generate content. they don't generate business and right now don't have cash for either. stuart: very suspicious on netflix at the moment. a go nowhere market thus far on a monday morning. 21, 626, a no selloff there. blackrock, the company says it's second in earnings and sales, both rose and the stock is $12 down at 426. that's blackrock. how about this? practice and-- procter & gamble the largest company to face a proxy fight. he wants a seat on the board and what does it tell you about procter & gamble, keith? >> it makes me very suspicious. because activist investors tend to be out for one person, the activist investor, they're not for america, contrary to what people think. if he's not aligned with my interests, i'm concerned. stuart: he owns $3 billion worth of procter & gamble stock and figures he can make it a more profitable company, more expansive with him on the board. it doesn't look like the market agrees with that, virtually unchanged on p&g, but i've never seen a company that size taken on by an activist investor. it's a new era, keith? >> it is. look where we are as a market. more money is chasing quality stocks, so the stocks are getting bigger. this is the first out of the gate in the big boys' league. stuart: dare we call this a positive economic indicator? google searches on buying a first home are up. is that an economic indicator. ashley: 11% to 44%. searching is great. buying is a whole different animal. you could argue it's a trend. first time home buyers are moving up and they're critical because they create demand and that allows home owners to move up the rung of the housing market and spurs home construction. but millennials are still struggling right now to come up with the money. stuart: got it. i want to say thank you very much to keith and especially to you, todd for coming back on the show. all good stuff. we'll see you very soon. as i said, it's a go nowhere market thus far, no serious decline, we're down eight points. it's wedding season. what happens when a popular wedding store shuts its doors? find out, you'll want to see this. a terrible story. j.p. morgan's chief tough words for d.c., the swamp. that we'd be much better in shape if we had some intelligent minds in d.c. he cut through the gridlock, he says, and have a go at the media as well. >> down 7, i believe right now. make it down 9. look at the level. 21,628. facebook just hit another all-time high. the company's putting ads everywhere. give me the latest on this one, please, nicole. nicole: ads everywhere in order to make revenue grow. when you scroll through our favorite news stories, pictures, whatever, and within that are ads. now, facebook is saying they are ad load maxed out and might hurt revenue growth going forward. they're trying so hard to find other places to put their ads. if you use instagram regularly and look at instagram stories, they're sticking them in there and putting them in facebook messenger, as well as in the marketplace and mid roll video ads. this is all to get their cash cow to continue to grow. but they have warned their ads are maxed out. watch out, revenue growth could stall some because of that. they've got to find them. stuart: still hit 160 a share. nicole: new all-time high. got to love it. stuart: bacon prices are soaring, so i'm told. is that the actual bacon prices soaring or the hogs. ashley: the hogs, the wholesale pork belly users. the price is up 71% since the start of this year, so your bacon cheeseburgers, blt's and everything, the prices are starting to get higher partly because there's a bit after tightness in supply and also, this is a high demand time of year. put those two together and there you go. prices are higher. stuart: i'm laughing because with a british accent, get your bacon cheeseburger, whatever it is. ashley: blt. stuart: welcome to america. [laughter] >> serious stuff. the top banker, j.p. morgan chief, jamie dimon, he says, quote, it's embarrassing to do business overseas. he slams d.c. gridlock. here is the quote. there would be much stronger growth if it were more intelligent decisions and less gridlock. joinings us is peter mauorici, n economics kind of guy. america's top banker saying, look, do something about red tape and rules and regulations loosened a bit. i'm sure you're on his side? >> absolutely. if you look at the quote closely, he used stronger language that we can't use on a family show and i agree with him. what's lacking is leadership from the white house. conemen -- congressman and senators are going to be entrenned owing to the constituencies and things of that nature. someone has to bridge the divide. on taxes, mnuchin and cohn's responsibility. that's not happening. and mcconnell is not letting them in the discussion. at some point they have to be involved. >> we got a report from usually the well informed saying the president is going to get out there and barnstorm the midwest and push hard with ceo's and supporters, get in tax cut done. he's out front on that thing. >> that's great. what's he outfront, where does he stand on the border and the interest deduction-- >> the report says that they've got the big six people working and they've got a plan. a couple of details not worked out, i agree with you, border tax is one of them. they're out with it. >> they better agree on the border tax or they can't cut taxes a lot. if he has a plan and willing to go out and sell it, that's the missing link and that's what dimon is complaining about. there's also regulatory reform. they have to have a big win on taxes or health care so they can start to spring loose the legislative process and frankly work with the democrats. thisser' getting the votes in the senate to start to look to meaningful stream lining of regulations that provides protections without excessive costs. >> amazon and the other big technology companies, they're under serious scrutiny because they're so powerful, so big, so dynamic, they're hogging the overall market here. do you think they should be reined in. look at amazon, up 11 bucks, $1013. do you think they should be reined in in any way, peter. >> as a general rule, no, i find that apple is a one-trick pony, a great phone and everything builds out of that, but they've got plenty of competition from samsung. amazon's big thing is its website to tell whatever you want. jet.com is out there, there are aggregators, i'm writing a column about it now, that provides meaningful competition. and it's jealousy. and reality, amazon wins because it's good. apple wins in cell phone because they're good. we have worldclass in the technology markets not pulling on their coat tails. stuart: fair point, one last thing. have you ever seen the american economy dominated, such small-- just five companies really dominating the entire economy? i'll bet you've never seen that before? >> i think if we go back to the '80s and think about the role in the capitalization of the oil companies, and general motors, and ge, combined together. and if we go back to the turn of the century, remember those guys at standard oil? my feeling they're not dominating the economy, this is a diverse group of companies that are doing a lot of interesting things and putting heat on incumbent competitors, i mean, it says something about the gang at general motors and ford when alphabet can threaten them by saying i'm going to build a car or elon musk can grow and subsidize a car that performance as well as as a bmw his first crack out of the box. they're smart and doing smart things. you look at telepathy, and you think about something and it's on the screen. they're doing these things. they're doing great stuff for the kip. stuart: wait until amazon breaks into the on-line dating business. >> uh-oh. stuart: and another industry. >> maybe find somebody for-- might be okay. you never know. stuart: morici, you're all right. and check the market, there's plenty of red, we're only down three points and we're at 21,633. now this, vice-president al gore, climate crusader, he says there are twice as many slor jobs than there are -- solar jobs than they are coal jobs. here is what he said next. whoooo. i enjoy the fresher things in life. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest prices. so if you're anything like me... ...you'll want to check tripadvisor. we now instantly compare prices from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices. your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. >> you know, there are several companies which are hitting all-time highs today. one of them is alibaba. it just hit the new high of 153, earlier this morning we told you about facebook at 160. new high there. and amazon is approaching its all-time high and so, too, is microsoft. there's a lot of stocks going straight up again today. a different kind of story now from brides scrambling for dresses after alfred angelo stores closed with little or no warning. details. liz: yes, it left brides and bride maids surrounding the stores saying what the heck is going on. they shut the store on thursday. paid $1,000 on average for dresses and they're stranded at the alter with no dresses. and one woman says i've got 12 weeks until my wedding and i don't know what to do. they've been left to resort to their seamstresses, and contacting their seamstresses to find out the whereabouts of their dresses and 60 stores shut and 14 locations around the world and panicked brides not knowing what to do. stuart: we had a wedding in our family in may and the run-up to the wedding and dresses went smoothly. i can only imagine the difficulty if the store closes with your dress on the inside . liz: without warning. stuart: al gore talking about climate change. ashley: thank god for solar energy, it's saving u.s. jobs. he made this comment on sunday morning, take a listen. >> there are now twice as many jobs in the solar industry as the coal industry. solar jobs are growing 17 times faster than other jobs in the u.s. ashley: there's mr. gore, that kind of tennessee lulling voice of his, makes you feel better about everything. one of the bright economic spots in our revival and the business community doesn't believe any of this at all and maybe some of us on the set. stuart: later on this morning they are going to be taking a look at the white house south lawn because displayed will be products made in america from all 50 states. the president is going to make a statement, including this one. he's going to say our nation honors the skills of trade people. they were pushed aside as they've been stretched and jobs sent overseas. . ashley: sounds like the campaign. stuart: made in america and hire in america. and then there's this. i have, shall we say, a harrowing story about my weekend. incredibly, refreshing at the same time. here it is, i spent 48 hours without my phone. we'll be back. . . stuart: have you before lost your phone or misplaced it. my question, do you know what it is like to be phoneless? here is my story. as soon as show finished, 12 noon, last friday, i drove out of the city for a weekend? the country. i was making pretty good progress getting out of the city. i had beaten the traffic. then i realized my phone was back in my office. if i turned around to come back to get it i would have lost a pressure hour or two. do not mess with weekend getaway new york traffic. i kept going. i figured i could just handle anything for a couple of days. bad move. without my phone, i was lost. some would say i was free from my electronic leash. it doesn't seem like that to me. i'm a texting kind of guy. no phone, no texts. ugly. incoming or outgoing. no texts. i don't wear a watch. no time checks without a phone. i like to check the weather constantly. you can't do that. you have no phone. i have no sense of direction. without my phone, the the gps, m lost. i check stocks constantly. can't do that without a phone. i'm sure you ask, plug in a laptop. i don't have one. i was taking photos, texts, youtube and market, i was cut off from the varney team at fox. no emailing. i didn't really like it. so what did i do? i got up at 2:00 on sunday morning and drove three hours back to the city to retrieve my phone. now i did that because, a, i really need my phone to do my job, really. and b, i really don't like being out of the loop. i enjoy being hooked into the phone. it is like a electronic companion that keeps me in touch with the world. i don't think there is anything wrong with that. i have a big family spread all over the planet. my phone keeps me in touch all the time. i like my phone. i need my phone. thank you, mr. jobs. second hour of "varney & company" is about to begin. ♪ stuart: well, despite my phone loss, it's a narrowing loss for the markets this morning. we're only down two points. i keep saying look at that level, 21,635. the amazon effect is making itself felt on blue apron. it is down big, 9%, it is talk that amazon will launch a rival service. blue apron down to six bucks. blackrock, world's largest money manager, second-quarter earnings, sales are up, stock is down 2 1/2%. figure that one out. facebook just hit an all-time high. they're putting ads everywhere to boost revenue. 160.62 on facebook. obama obama we call them the amazon of china, that stock hit all-time record high. alibaba. joinings now, foxnewspolitics.com editor chris stirewalt. is this delay for health care a good thing for haven't all passage of health care or bad thing? >> depends on whether or not somebody has a good idea. more time is bad for this bill as currently constituted. think about it this way the very fact absence of one senator halts any discussion or progress on the bill, that tells you, reminds every other senator this thing is hanging by one vote, and has been all along. they can only afford two defects. they already have the two defects all likelihood. the question, can you innovate? can you use this time to change the debate, change the discussion because if they keep grinding out the same points they will find out they don't have the votes in the end. stuart: as a d.c. kind of insider, hope you don't mind me calling you that? >> i know you mean it with love. stuart: as a d.c. insider do you have any idea if there is, if there are new ideas for health care reform? >> well the big question is basically this. can moderates be, i say this with love, bribed. is the money that is there enough to offset their concerns about the cuts to medicaid in the out years, or decreases to the increases in the medicaid to the out years. if it is enough, they feel like there is enough here. the other thing that will happen in this period of time is, it lets the senators advisors, and pollsters go to work to see how this really looks for them and how this is really going to affect them. if you're rob portman in ohio, shelley moore capito in west virginia, you have the more time to get the lay of your land in the home state. if the news comes people like the legislation i think they will be okay. what people will find out in most states this legislation sun popular. stuart: what do you make of the report that we received this morning president trump will barnstorm across the midwest in the middle of august stumping for tax cuts? he is lined up his tax-cutting team. they're in good shape. they pretty much have a plan finalized, president trump will lead the push? you're smiling. why? >> they won't be done by middle of august. john mccain will be out for at least a week. whatever the senate passes will go for consideration between both houses of congress. it has to go back to the house. we're weeks or months being away from finished with the health insurance question and then the government shutdown date looms at the end of september. in middle of august taking up new issue about tax cuts is a tough proposition. i would say this. if the president wants to barnstorm for something, if he wants to do, that, do it on this. get out there to sell the health care legislation. tell the base voters it is absolute necessity. it is not mitch mcconnell, that in fact this is crucial issue for rest of the country around go sell that. if you don't, what will happen, congress will gag on this legislation and move into shutdown mode at beginning of september with a month to go before the fiscal cliff. at that point nobody is talking about taxes. stuart: i'm reading between the lines. you don't seem confident we'll get much of a tax deal done at all, do you? >> look as i maintained all along, it is possible to do tax cuts. i don't think it is possible to do tax reform. tax reform would be harder than the health insurance, there are even more moving parts and more constituencies involved. i don't think you get broad reform. i think it is possible as part of a final budget deal, tax cuts, peaceally deficit funded, you could see tax cuts and republicans would get behind it. lord knows they would like to do something somebody liked. stuart: you may have helped the market there, because this market needs any kind of tax cut. i think you made it go even there. thank you chris. i'm breaking in early. i have breaking news on health reform. president trump trying to whip up some votes. ashley: working the phone lines apparently. according to aides close to senator mike lee. apparently the president called on senator lee on saturday, where do you stand on the health care bill. he apparently told the president i'm still undecided he is concerned that the ted cruz freedom amendment is not in the new bill even though senate leadership argues it is. there is still lot of in the weeds arguing what is in, what is out. bottom line the president is on the phone, having just got back from france. straight on the phone to get these republicans in order or try to. we know he will get out front on tax cuts in middle of august barnstorming the width mess. ashley: right. stuart: he is on the phone actively working for health care reform which is what a lot of people have been urging him to do, get involved on stronger basis. ashley: apparently he heard that message. stuart: he did indeed. the market turned around, we're not up by much, three points as we speak. 21,640,000. i'm really amazed. wife of senator bernie sanders charged with bank fraud allegations. she calls this sexist. i find it sexist he is going after i my husband by destroying my reputation and that is not okay. joining us kristin tate, author of the book, government gone wild. kristin, break this down for us and your reaction please. >> i have to laugh, stuart. the sexism card is always last refuge for liberals with no arguments. this is the same stuff from hillary clinton and her people for months now. she lost the election because she is woman. not because she was a terrible candidate who couldn't contact with voters. people can see right through this stuff. jane sanders is being accused of committing bank fraud by illegally obtaining a loan for a now former college in burlington, vermont. now that she is being called out on it, crying racism. guess what, jane, there is no waiver in committing bank fraud because of your gender. justice is blind. it doesn't know your gender. 2 doesn't know who you are married to it doesn't know if you ran for president in the past. it doesn't give out waives because you're a woman. politicians have to be held to the same standard and if jane sanders committed a crime she has to be held accountable for it. stuart: as a woman involved in politics do you feel like you're treated in a sexist fashion because you're a woman? >> absolutely not. if anything i feel i have a advantage because i'm a woman, because of media so-called feminist movement there are so few women who have the courage to come out as conservative. few of us who do i think have an advantage, there are not as many of us saying the message, the conservative message but there are a lot of women out there across the country who are conservative, they like hearing a conservative message from other females. it is empowering, unfortunately because of the mood he yaw we don't get a lot of those voices. stuart: there is lot written about identity politics, as who you are, opposed to your policies you would suggest. do you think that movement, i think this has been the case for a generation, more and more stress on identity, rather than policy, do you think that trend has run its course at all? >> 2016 showed that identity politics are no longer effective. hillary clinton's main campaign issue she was a woman. to campaign on that, to stand in front of women and act like the only issues we care about are women's issues like abortion, that is just demeaning. women are like men, more or less, we care about the same issues. we care about government spending. we care about security for our families. we care about jobs and the economy. to stand up there and pander to us if we are a special group of people of victims it is demeaning. people see right through that stuff. so, no, identity politics is no longer effective and 2016 proved that. stuart: kristin, nicely wrapped it up. stay there. i have more for you in just a moment. i want to talk momentarilily roger federer, stunning win at wimbledon for the 8th time. that is a record. he is 35 years old. he is 36 in couple weeks. he could play until he is 40. how about that. the president is about to barnstorm through the midwest to pitch to voters directly. senator grass i also, member of budget finance committee, look at this. stuart: president trump appearing at the u.s. open westminster course. what do you know? he was met with protesters. no surprise there. you're watching second hour of "varney & company." ♪ we're on to you, diabetes. time's up, insufficient prenatal care. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. ♪ stuart: i have no, i have no desire to sit on the iron thrown, okay? this is all about season 7, the premier, "game of thrones." it debuted last night. mack, hbo's website crashed. what is with that? liz: streaming hbo now. they couldn't get "game of thrones" until the second half of the show. this is second year in a row. peep taking to social media and twitter. it also happened as well in latin america. stuart: glad we knew that. health reform vote delayed because of john mccain's surgery and absence from the senate, president trump taking the lead on tax reform. secretary mnuchin, economic advisor gary cohn, they're working with congressional leaders on the tax code rewrite. joining us senator charles grassley, republican from iowa. mr. senator, we hear president trump is taking the lead on tax reform, barnstorm through the midwest, push this, appealing directly to the supporters. are you in favor of him taking the lead on this issue? >> absolutely. when i was chairman in the finance committee and 2001 and 2003 tax bills there was, that was after four years of paying down a lot of money on the national debt, $500 billion. i think there wasn't so much of a concern about what the tax bill ought to do as just, reducing taxes because there was more money coming in than going out. it is an entirely different reason for having tax reform now, and not quite as easy to accomplish. so having presidential leadership is absolutely essential. i can vouch for what you said about the president and his cabinet being involved with it. because i've been involved in several the meetings where senator, or secretary mnuchin and and the economic advisor was there as well. and it really helps to have some coordination between the mouse and senate. i'll stop with this. their goal to have something that both the white house, the senate finance committee, and the house ways and means committee can agree on, at least for a format. maybe not a detailed bill at this point. stuart: at the end of the day what most people really want is some form of tax cut. you think we'll get that? >> absolutely, before christmas. stuart: before christmas. >> it really needs to be done before thanksgiving because irs needs those extra days to get ready for people filing their tax taxes in january. stuart: there is a lot of talk about big technology companies that they should be reined in because they're so powerful and so wealthy. do you think we should be reining in our big technology companies anyway at all? >> if you're talking about it from the standpoint of legislation, i think not because i think we have seen for 120 years the antitrust laws worked very well without a whole lot of changes. maybe some court decisions have made some difference, in the final analysis it isn't a question of congress acting, it is a question of enforcement of the law. if you want to ask me another question, do you think the antitrust laws ought to be enforced? the answer is yes, but i look that as non-political or apolitical sort of an approach that the people that are experts in administrative law, i mean, with antitrust law, whether it is at the justice adopt or the federal trade commission, they ought to be in charge of making sure that nothing going on is anti-competitive, because we believe in competition to make the free market system work. stuart: okay. senator grassley, a pleasure having you on the program again, sir, we really appreciate it. thank you very much. >> thank you very much good-bye. stuart: yes, sir. hundreds of women took to the streets in the d.c. to protest the nra, national rifle association. they're upset over the nra's ad we showed you last week, watch it next. whoa that's amazing... hey, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... so put your idea online with a domain name from godaddy. enter your idea and we'll find you a one of a kind name. we've helped 17 million people find the perfect domain name for their website. get your domain name and start building your website for free! your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. stuart: whirlpool in the news. "barron's" magazine says they found one fund manager who i thises the share price is a bargain at the moment. that one fund manager thinks this then will go up 35% this year. that is good for near 2% gain for whirlpool right now. higher profit and sales at blackrock not good enough for wall street, not as much as was expected, there is that word again. the stock price is down 3%. >> we're about to run side by side video, organizers behind this year's women's march, returned to d.c. this weekend, to protest a controversial nra ad on other side of your screen. kristin tate is back with us. kristin what is your reaction to the women's march, i believe it is 17 miles long or they're trying to march for 17 miles? your reaction to their reaction to the nra ad? >> this is just another excuse for people to march and protest. we all know what this is about. this is about getting media attention and looking for any excuse to bash the right. while these women's march people were protesting the nra, their own leaders were surrounded by armed guards. this is just hypocrisy on full display. everybody sees it. the left continues to cling to these untrue and overused claims that the nra promotes vie license, but many of the folks that the women's march openly embraces are guilty of the same things that they accuse the nra of. for example, one of their featured speakers during the inaugural march, a woman named donna hilton, spent jail time for murdering raping and kidnapping someone. another one of their speakers is on the top 10 fbi most-wanted list. then you have folks like madonna who shows up and say she wants to blow up the white house. are these marchs are promoting peace? i don't think so. this is more about politics and people can see right through it. stuart: i'm intrigued the way these protests are reported. now, the video that we just showed our viewers is usually tightly shot so that the protesters fill the screen. they don't pan back, so you don't really get a good impression of how many people were actually there or which people were actually there. can you tell me how many people really were at those protests, the one in washington, d.c., that we have on the screen right now? it looks like maybe couple hundred people at absolute best. >> yeah, it was a big flop. that is what usually happens with these protests. media builds it up as if something will be really big and not a whole lot of people show up to these things. stuart, if these people really cared about gun violence they would take their picket signs and go to downtown chicago where the gun violence is actually happening. it is very easy to march in d.c. surrounded by armed security but chicago, that is where people are getting shot. even though that city has some of the strictest gun laws. this weekend, 55 people were shots just this weekend. one was 10-year old boy. people don't want to acknowledge why this continues to happen in chicago. stuart: you made your point, kristin. we'll see you real soon. you did make your point. jpmorgan's jamie dimon said fake news is distorting democracy in america. we're all over that story and we'll be back with it too. ♪ ♪ i'm... i'm so in love with you. ♪ ♪ whatever you want to do... ♪ ...is alright with me. ♪ ooo baby let's... ♪ ...let's stay together... ...is not just something you can see or touch. home...is a feeling. it's the place where you feel safe to have those little moments that mean everything. at adt, we believe that feeling should always be there. whether it's at your house, or your business, we help keep you safe. so you can have those moments that make you feel at home. ♪you are loved wherever you are. i ...prilosec otc 7 years ago,my doctor recommended... 5 years ago, last week. just 1 pill each morning, 24 hours and zero heartburn. it's been the number 1 doctor recommended brand for 10... ...straight years, and it's still recommended today. use as directed. ♪ stuart: a minor loss for the dow industrials after one hour worth of business. we're down 10 points. look at that level, say it every day, 21,625. we have all-time high for facebook and alibaba on your screen. it actually reached 160 and small change. facebook just dropped back a couple cents at 159.89 as we speak. netflix they will be reporting their financial situation after the closing bell today. investors will be watching very carefully for any subscriber growth. not to mention the overall debt level. netflix at 161 this morning. bearish comments on tesla from hedge fund manager david einhorn. he says it is no apple. tesla does not make money selling cars and mr. musk, the founder, shows little interest in profits. that is taking tesla down 10 bucks, 316. 3% down there. president trump bashing the media again. here is the quote. with all of its phony unnamed sources and highly-slanted and even fraudulent reporting fake news is distorting democracy in our country. jpmorgan's chief, jamie dimon, also criticizing the media in harsh terms. look at this! the united states of america has to start to focus on policy is which is good for all-americans and that is infrastructure, regulations, taxation, education. why you guys, that is the media, why you guys don't write about it every day is completely beyond me. joining me now fox news "mediabuzz" host, howard kurtz. howard, this is the first really senior executive i've seen come out and say you guys in the media, you're not doing your job? >> i'm sympathetic to the argument. many business people feel this way, why can't the two parties get together to hammer out some kind of common sense compromise on all of these economic tax and regulatory issues. but as far as the media not pounding the drums here, the state of utter gridlock here has been going on 15 years through several administrations writing every day, the humidity is really bad in d.c. this time of year. political polarization contributes to that. stuart: but they're not talking about the issues which really affect people's lives. the president's growth agenda. hess job creation agenda, what impact tax cuts would have on the economy. you don't see that written about. when i look at headlines in the morning or watch broadcast news first thing in the morning, all i see is russia, russia, it never stops, howard. >> i agree with that indictment. health care is stalled in legislative quicksand. so faded a little bit from the news. we haven't yet seen the administrative tax cut proposal. whether or not the press should focus on issues, pro or con, healthy debate, endless reporting on russia, it's a legitimate story particularly in the past week, stuart, it has come to dominate the media landscape. stuart: you watch these stories very, very closely. you really follow this very closely indeed. is there anything when it comes to any there, there, when it comes to donald trump, jr.'s meeting with russians? >> i've been saying for months now that there doesn't seem any there there, in terms of collusion, donald trump, jr.'s meeting with the russians apparently didn't go anywhere, what was reported was not fraudulent reporting, it was not fake news, confirmed by the president's son, confirmed by emails, it showed willingness to collude or accept opposition research on hillary clinton. first part of this story, plus it has weird colorful characters like british tabloid hack and pop singer made it more interesting for the press. is it absolute game-changer in terms of the overall story? no. it has not been a good week for the white house. stuart: i don't think it will go away anytime soon. we have to get to the bottom of it. there are still more questions. you can say that next 25 years, you will never get to the bottom of it. there will be always more questions. it's a political ploy to disrupt the president's program. that is my opinion and yours? >> i think that is a fair comment. at same time the white house could have this be a two-day story getting all information out, not having drip, drip, another guy at meeting soviet former counterintelligence officer. i can't completely blame the press for the fact this has been strung out, but at the same time, there are a lot of people out there in the audience, talk to us more about issues that affect our daily lives. we're falling down on the job. stuart: got it. howard kurtz. always good to see you, sir. president trump attended the u.s. women's open golf championship at his bedminister golf club in new jersey this weekend. "usa today" writer christine brennan says golfers should use the opportunity to criticize the president for his past comments about women. the article is titled, time for woman golfers to stand up and speak out. before the tournament, one golfer said this. hopefully, maybe he doesn't show up and it won't be a big debacle and it will be about us and not him. joining us now, katrina pierson, former national spokesperson for the donald trump campaign. first of all, katrina, the reporting that i saw never mentioned how many women were protesting at the golf course. the reports always, began with, protesters were out at the golf course related to president trump. how many were there? how many protesters were actually there? >> this is actual a big part of the problem. there was a lot left out of this opinion piece. you know, it was quite interesting because this writer also mentioned that trump was a controversial host, an if memory serves me correctly, this country has been extremely polarized with class warfare, gender warfare, any keep of warfare you can think of under the obama presidency, i wonder if this particular writer would have mentioned a controversial host if president obama had ever created anything or a job during his tenure? stuart: i think that president trump has done a lot for women's golf. i think he supported the lpga. >> absolutely. stuart: now he is hosting at his own golf course the lpga championship. >> not only that, stuart, it is unfair criticism, just to say the least considering donald trump has been some within since the '80s who promoted women, even in his own company. putting them in charge in engineering positions where other companies wouldn't. he has proven time and time again, even with his policies as president, that he does prioritize women's issues and yet, here we are again today, with someone trying to cause more division between women and president trump. it is truly unfor the the gnat. she also said in this article compared to the other tournaments, i.e., comparing them to men, she said these women were more like second class citizens. i hate to break this to that writer, stuart, the average salary of a woman in her 30s in this country is less than $100,000. these women are making 200,000 to $8 million. that is just, this article is just a smear against president trump. stuart: the argument is and was, look, president trump and did some things concerning women which embarasses the country and embarasses the presidency and your response to that? >> my response, i think what president bill clinton did far more to embarass the country and his actions and his words against women. stuart: katrina. good to see you as always. >> thank you. great to be here. stuart: voters in venezuela showing opposition to president nicolas maduro in an referendum. it was not a official are referendum. it was unofficial, liz. liz: it was symbolic vote with no legal impact. 7.2 million people turned out and said no to maduro's push to have special assembly to rewrite the constitution to grab more power. one woman shot. thugs in motorcycles drove by started shooting in the crowd. almost as many people that voted for maduro in 2013 turned out for this symbolic he vote. he is still pushing ahead july 30th to rewrite the constitution in order to seize more power as this country is in a state of collapse under socialism. stuart: he will seize power. you can see it a mile offer. bridal shop chain suddenly closed its doors last week. that forced brides to be, to scramble, where is my dress. ashley: this came out of nowhere. filing for bankruptcy, chapter 7 liquidation in florida. they have a 60 stores, 1400 worldwide, leaving a lot of brides to be crying, angry, what happens now. which is a very good question. the company says it will do everything it can to fulfill all orders that had already been purchased from the store. bottom line this came as up such a surprise not only people had dresses brought from the store, even the store managers had no idea until they find out that they're locked down and filed for bankruptcy. stuart: the point, chapter 7 bankruptcy which is liquidation. not like you stay in business when you try to settle with the creditors. you're gone. you sell everything. that includes dresses that these poor women have gone for. ashley: awful. stuart: dreadful story. up next, generation z. that is people dorn from the mid 90s to about 2010. generation z more conservative, more conservatives than millenials. we'll hear from a professor who made the discovery. he is is on the show today. the trump administration seems to be taking lead on tax reform. senator grassley says we get reform by christmas. karl rove weighs in next hour on that. more "varney" after this. ♪ ♪ ashley: economics professor peter morici says america's top tech companies are not dominating the economy. roll tape. >> i think if we go back to the '80s and think about the roll and capitalization of the oil companies and general motors, and ge combined together f we go back to the turn of the century, remember those guys at standard oil? my feeling is they're not dominating the economy. this is diverse group of companies that are doing a lot of interesting things and putting heat on incumbent competitors. it says something about the gang of general motors and ford when alphabet can threaten them by saying i'm going to build a car. ♪ (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ringing) (audience cheering) stuart: amazon stories for you. several of them. first up, blue apron gets amazonnized. amazonned. there you go. amazon has talk of launching a rival service to blue apron. look at it go down 9%. avis -- teams up with alexa. can rent a car through the echo, amazon related story. there is report that amazon so working on new messaging app. called anytime. three amazon stories. there is always one every day. now there is three. apple shares leading the dow after morgan stanley raised its price target on the stock to $182 a share. now the stock has just hit 150. our next guest says generation z, which includes people born from the mid 90s to 2010, much more conservative than millenials. keystone college professor jeff bauer says this, politically generation z, is liberal, moderate with social issues like support for marriage equality and civil rights and moderate conservative with fiscal and security issues. generation z's inclinations generally fit more moderate republicans. he joins us now. where did you get this now? how did you come to this? that is exactly contrary to what we've been told? >> hi, there, stuart. there is research done by academics and also by marketers out there on generation z. i've been particularly looking at their voting behavior. comparing what happened in 2012 to what's happened in 2016. one of the problems is that pollsters and pundits have been getting things wrong obviously lately in 2016, including myself, but we look at numbers -- stuart: okay, look, in general terms, would you say that this generation z is in favor of tax cuts, less regulation, in favor of growing the economy, rather than sharing things out fairly? is that the side that they're now on? >> yes. you know, generation z grew up in the time of the great recession and you know, personally with school cuts, budget cuts, they're much more conservative when it comes to fiscal issues. so they're much more interested in less government spending, less government regulations and making sure that their tax dollars stay in their pockets. they want stability. they grew up during the great recession saw their parents and their parents friends lose their jobs, and didn't get better jobs. so they definitely much more conservative when it comes to fiscal issues and also security issues. stuart: why don't we heart more of this? all we ever hear about from our nation's campuses is the left going after anybody who is even slightly conservative? >> this is kind of the message that i'm trying to get out there because people are getting it wrong. we talk about the youth vote and the youth vote runs from 18 to 29. and the youth vote up until the last election real just included millenials. millenials have been consistently democratic and consistently liberal. now the youth vote is half of gen z and half of millenials. people are not taking that into account. pollsters and pundits and political parties need to pay attention that the gen zs will be half half of the youth vote and be entire youth vote. democrats, part i.d. from youth vote went from 44% to 37%. that is seven-point drop. during the election in 2016, there were a number of states, especially the economically hard hit swing states where democratic support went down greatly. in pennsylvania went down 20 points. in ohio 20 points. in wisconsin, even in states that hillary clinton won like nevada, the youth vote for the democrats went down over 20 points. stuart: whoa. i didn't know that. fast forward to the year 2020 when generation z will be a larger proportion of the youth vote. do you think they will be, that generation z will be the trump generation? >> well i'm not sure the trump generation. i do think that, you know, there are certain aspects they were attracted to trump, at least during the election. he was seen as more transparent, say it like it is type of candidate. generation z is very attracted to that type of attitude. they are not really attached to political parties at the moment. they're still very young. they're much more, see themselves as independent, but idealogically they would certainly align themselves if they were attracted to political parties more so, i think as people get older they do, they would be more like a moderate republican. good old-fashioned rockefeller republican which we don't see as many out there in the country at the moment but i think the republicans have the opportunity to pick up on this. the democrats can't just take this group for granted which they have for the last few decades. stuart: thank you very much, indeed, professor. appreciate you being with us this morning. thank you, sir. come back again. >> you're welcome. stuart: disney has fans buzzing with a clip from the upcoming sequel to wreck it ralph. details? ashley: just finding it right now. apparently a big deal. we have nine princesses of the disney area, of the disney era are together, stu. we'll bring you up to speed. it is a big buzz. stuart: everyone we have the dow turning around. we're up slightly. we'll be back in a moment. people would ask me in different countries that we traveled, what is your nationality and i would always answer hispanic. so when i got my ancestry dna results it was a shocker. i'm everything. i'm from all nations. i would look at forms now and wonder what do i mark? because i'm everything. and i marked other. discover the story only your dna can tell. order your kit now at ancestrydna.com. approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ stuart: $3 million comes out of homeowners and business's pockets and goes into political campaigns, forcibly. one candidate endorsed by the socialist party has cashed in $129,000 worth of vouchers. 2/3 of total amount of voucher money dispersed to the socialists. in the opinion of this american citizen seattle is profoundly un-american. oh. yeah, that was a spark there. that was my take on seattle's political voucher program last week. as you may i called seattle un-american. many of you wrote in on that. this came in from john. seattle is lost cause. the people are not even in this country. they're narrow-minded liberals looking for a free handout. they disagree with the principles of founding fathers. thank you, john. marilyn says this. i was planning a trip to seattle in november. i changed my mind and my plans due to their socialist leans. will be on vacation elsewhere. ashley: that is the backlash. it is very, very real. you know what happens? everyone who has money, this is going to leave. their tax base will crumble. that city council should be held accountable. stuart: these political vouchers are paid for out of the property tax. liz. this is unbelievable. it is literally buying the vote with your tax dollars. i've never seen anything so brazen and craven. there are real first amendment constitutional issues here, that literally taking money from people who have no say how that money is used to get, to elect these officials you may not agree with. stuart: right. liz: to me i have never seen anything so blatant and wrong. ashley: ever been a program like this? i have not heard of it? stuart: there may have been. i have not heard of it. liz: listen you do want to get the poor and lower income classes involved in the vote but you do it by making your case for what is the best policy, not by literally buying it with other people's tax money. ashley: on the backs of the rich, ridiculous. stuart: $100,000 to the socialist party. do the people of seattle know about this?ia ashley: they do now. charles: we made our mark. so let me ask you this... how does diabetes affect your heart? 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that it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters. stuart: president trump is about to take the lead. you are about to see a full-court press for his growth agenda. he's going to be right out front. the usually well-informed website says president trump will ban storm the midwest next month and revying up the crowd. growing the economy is bedrock trump policies and supporters want to know it is still the priority. the health care mess come fate it is news, russia, russia dominates the media. they're on saysed of bringing him down. he needs to go ahead of media and swamp and appear before supporters making the case. he has the ultimate bully pulpit use it. that campaign gets a push today. on the south lawn of america made in america products will be on display and the president is going to say, here is what he's going to say, our nation honor it is work of skilled peoples and too long interests have been pushed aside. he's going right to his base. good. for the last six months much of the growth agenda that is languish. now more than ever, the president needs to lead from the front and he's starting now. the third hour of varney & company is about to begin. ♪ ♪ ♪ stuart: we would use kanye west. why not? nine points higher for the dow industrials. 21,647, record territory, ladies and gentlemen. smile when you open up your 401(k). no selloff despite gridlock, despite the democrats' obsession with russia. we are up 10 points. listen to what he said on this program last hour. >> what most people really want is some form of tax cut. you think we will get that? >> absolutely. before christmas. stuart: slitly, before christmas. fox news contributor karl rove joins us now. all right, karl, if the president gets out front storms across the midwest, does that make it more likely to happen? >> yes, as long as it's consistent and well thought out and executed in the right places, absolutely having the president's bully pulpit, he owns the biggest one in the country and if he uses it right he can pass legislation. stuart: what do you make of delay on getting vote for health care. mccain might take well more than a week and recover and get back to dc and vote, that seems like you can say good-bye to health care reform. if he's not in the chamber, you don't have 50 votes. >> they won't take a vote until he gets back. i was by accident talking to one of the senior leaders republicans of the senate and i asked him that question, is this a good thing or a bad thing that mccain's health emergencies are not going take care of this week and the senator said it depends whether or not they are able to use the time effectively and educate members in the senate as to how this bill is a good bill and sell that bill. i thought there was a great piece by fred barnes who made the point that rand paul says it doesn't get rid of all of obamacare, if you take that attitude, and then this bill goes to obamacare remaining in place and susan collins whom i have great respect for, this doesn't solve the problems in obamacare, fine, if this bill goes down, tall problems will remain and have lost the opportunity to make problems in repealing and replacing obamacare with something better. incremental progress is important. stuart: that kind of debate, that discussion, is it going to move us closer to a yes vote when a vote is finally taken? >> that's very much up in the air. if they use the time wisely, look, identify had some conversations with people around some of the senators and they say, well, this bill was bad because this bad thing will happen, turns out the bad thing isn't going to happen and then so the more information people have, the more education they have in the senate about this and the more the clarity is, if you don't get this done, the american people are going to think you're not capable of getting anything done and that will be very harmful to the republicans in the 2018 midterms. stuart: are you with me on this, karl, i say something is better than nothing, are you with me in. >> i believe in that. here is my point. i think this is a pretty good bill. fundamental reform of medicaid, biggest reform we've had of entitlement program in the history of our country. a better form to deliver health care, it gets rid of mandates and get rid of taxes, reducing the pressure, upward pressure that we had for premium increases, will it solve all of the problems, no, the federal exchanges are broken and will remain broken as long as they are around. this will diminish some of the problems but create new opportunities for consumer choice and people oh to move out of the exchange into a refundable tax credit where they are in large of picking health care coverage that their family needs. stuart: if the republican party doesn't get it, they are toast next year. that would be my personal opinion. varney eyes. >> we can say amazon, we need to start using varney eyes. stuart: you watch the show. thank you very much, karl, we will see you soon. >> thank you. stuart: let's bring in don, the president is going to be out front stomping in the midwest, you to cut taxes, you have to do it, if we get some form of tax cut, i don't think what -- i don't care what form it is, do we get growth next year? >> we saw numbers and were on the soft side. stuart: down in the second row. >> if we need tax cuts, they've got to be directed toward middle and lower-income americans to get retail spending again. if that's the case, businesses would take advantage of any stronger incentive to invest, expand production capability. >> if we don't get tax cuts? >> we will be stuck at 2% growth. 1 and a half, 2%. that gets to be dangerously slow. fewer than 100,000 jobs sometime in 2018, we will be knocking on recession's door. i have to tell you, i don't get it. surely there's a lot more money in the economy and we have sales down, department sales down for two months in a row. what's going on. >> part of the problem is there's been a slowdown on wage and salary income growth even though we've had good numbers of jobs created. we are looking at an aging economy n. the past each year we would add to working age population, 2 and a half million people. the retirees will grow by half a million. that's being switched. we are growing the retiree segment 65 and older 2 million and on the other hand, the working age population growing 600,000. that makes it tougher to grow consumer spending. stuart: they have to have tax cuts. >> they need a break. stuart: i want to get to jpmorgan's chief, he slammed politicians on dc about stalling growth, there will be much more growth if there were more intelligent decisions and less gridlock. i've never heard that from a senior executive before. >> well u stated i i would say that there's too much ideology in washington and we have problems in this country, let's look at the black and white and see how we can best solve them. you can't get everything you want from ideological perspective all of the time. you have health care, you have to compromise and push the country forward. stuart: thank you very much, john, yes, sir. look at amazon please, look at the stock price. lots of news on amazon as usual. tech crunch reports amazon may be working on a messaging app called any time, later this hour joined by judge napolitano, he's back, i want to know if there's any way to rein in the big technological companies like amazon which is up again at a thousand 6 as we speak. organizers between this year year's women's march this type to protect the nra. march came after nra released video that march organizers says incites violence. dana loesch, one of the women they're protecting against is next >> it's not too late to join these women out here. [cheers and applause] >> you're a women too. don't let the nra use you as a pretty face to sell guns to men. stuart: that was one of the protestors protesting against the nra, specifically against denia loesch who has appeared in somewhat say controversial ad for nra and dana loesch joins us now. you were in that commercial which we have run many times in this program, the protestors are now going after you. it's not too late for you to join them they say. i want your response, dana. >> well, it's so good to be with you, stuart, thank you. first off, that clip that you showed, that clip that you showed, that is the height of sexism. i don't need to be man explained by some progressive male in a protest and become descended to by some man that believes that women are not evolved to appreciate and enjoy the shooting sports or exercise our second amendment rights. we have the right to bear arms, right the bear arms before we had the right to vote and you can come out of my cold hands. they're mad about what, they're mad about my participation with the nra, it's not a video that at all advocates for violence, to the contrary explicitly condemns violence. furthermore, one of my lines in the ad, until the only option left is for the police to do their jobs and in the madness. now, i don't know if that's true and triggers progressives, the idea of respecting police, or you know what triggers me if we are going to have the conversation, to sea peaceful protest conflated with violent riots and peaceful expression conflated with burning down buildings. the only people who need to worry about my ad are people that i called out, the burning buildings people. everybody else, we are cool. stuart: your ad, we put it on air, we put it on immediately. i think it had impact because you were straight at it, actually you went on the attack and that's not something that we are used to. most conservatives, most gun folks, second amendment people, they are always on the defense but in that ad you went right out and stuck it to them and that's why it stood out and that's a mark of your success with that ad. >> well, you are spot on, stuart, as always, that came came to fruition because we had so many of our members, millions of members of nra and so many were worried, legitimately concerned about the violence that they saw as being mainstreamed by a mainstream media coverage of it. i know that you remember in washington, d.c. the riot that is took place and in seattle and in portland at berkeley, in chicago and the way that media reported it, our members felt as though they were attempted to mainstream, we will hear people protesting and the language they used to describe it, that's not peaceful protest. our members know what peaceful protest is. i think most americans do but it's the violent group that's trying to agitate on the thanks for joining us. see you soon. >> always good to see you. stuart: yeah, you too. prompter &gamble. sales and profit growths are stored the p&g. the news to put the stock up half of 1%. look at this. look at it. would you buy a house that sits on top of a landslide? this is a home for sale in san francisco. it's listed at 850,000 bucks. it is getting bids despite the fact that it's too dangerous to live in. the city had red tagged the home, the foundation needs massive repair but it is being bid on. got it. your daily dose of star wars and archaeologists and i use that word adviserly. we will tell you where he found it and disney releasing new pictures of what their new star wars hotel would look like, you want to stay in that? we will be back whoooo. i enjoy the fresher things in life. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest prices. so if you're anything like me... ...you'll want to check tripadvisor. we now instantly compare prices from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™. liberty mutual insurance. >> the whole world is focused on escobar. cali became the biggest cocaine in risk my. to pretend this guy wasn't as evil as the guy that is came before them. stuart: that's a teaser of narcos, follows the life of kick pen pablo escobar. plus hbo smash hit game of thrones last night. so many people try today watch it that hbo.com smashed. the website and the app were up and running by the second half of the show but a lot of fans not happy about the hiccup. this is a story, archaeologist has found long lost sets from the first star wars movie. he found them deep in the sahara desert. 20 years to find them. producers lost track of the original locations after filming in 1976 and the archaeologists found a bunch of debt decor and props sitting where george lucas and the crew left them. >> interesting. stuart: more exciting news for star wars fans. disney is opening a star wars hotel in orlando. the hotel completely with guests in star wars universe. the hotel itself is designed to look at a massive spaceship and if you look out the windows it looks like you're staring into space. hotel opens in 2019 and hopefully the star wars media maintains itself then. it's been around 40 years, why should it disappear now. [laughter] ashley: true. stuart: here it comes, here he comes, i should say, the man himself, he is with us next, he's been awaken, he's been on vacation in italy for a couple of weeks. he has a suntan and he's back. stay right there. >> the judge. stuart: the judge is next. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ringing) (audience cheering) ♪ ♪ ♪ [laughter] stuart: you maybe wondering why we are playing christmas music in july. well, it is christmas here in july on varney & company. why we are doing that? senator charles grassley last hour said we are going to get tax reform tax cuts by christmas. ashley: under the tree. [laughter] stuart: look at this, please, ladies and gentlemen, the dow has turned around. okay, not much but we will take it. about half of the dow are in the green, the dow is up 11 points. i say it every time. look at the level, 21,649. i want to get back to tax reform. president trump is leading the charge, joining us now congressman sean duffy, republican from wisconsin. congressman, we heard this morning that the president is going to get out there on the road barn storming across the midwest in particular, in the middle of august pushing, leading the call for tax reform. is this something that you republicans want him to do? >> think back to george bush and barack obama doing the big rallies, that's important the get people excited about the policies that you're trying to push and donald trump hasn't done much of this. he has to start doing that. i agree with that. the problem, though, that we have is that we are using budget reconciliation, funky senate rule and the rules on tax reform is -- it has to be revenue neutral, you don't get tax reform on that, stuart. so what we do use trillion dollars of obamacare taxes to move a trillion dollars, we use budget -- i'm sorry, the bother adjustment tax which that's getting pushback and i know you've given parentback on that. if we don't get health care done, you don't get tax reform. stuart: that simple. no matter what the president does? >> unless the senate break it is filibuster rule and they go nuclear and open this thing up. stuart: do you want them to? >> absolutely. coldheartedly. when the democrats get the senate, they will do it. america is frustrated because of lack of action. stuart: get rid of filibuster rule, it's straight 51 votes in the senate. you have tax reform. >> that's right. stuart: okay. >> i don't want the wholesale reform -- stuart: you have the rules in place as of now. the health bill that's before the senate requires 50 votes, that's all, just 50 and the vice president breaks the tie. that's what you've got with health care reform and you still don't have a bill that's going to pass. >> take a step back. the health care bill that's before the senate is one that is still fitting within the budget reconciliation rules. you here phase one is this, phase two and phase three. if you get rid of filibuster you can do wholesale tax reform and they love the power that the filibuster gives to the senator. it only takes 51 votes to change the rule. republican senators can change the rules themselves and fix this thing and they are not doing it. i'm telling you what, when i go home, americans are so angry that we have made this promise on taxes and health care and it's not happening and if you want to win reelection, grow the economy. get rid of rules and regulations and fix the tax code. stuart: latest report is that they can't vote in the senate on health care reform until they get senator john mccain back from his surgery. the late report suggested it'll take more than a week to get him to recover and come back to vote on it. that means you have even further delay on health care reform. that's not good news. >> it's not. let me make two points. tax reform is being worked on right now. stuart: true. >> the negotiations and the work is happening so we can move pretty quickly on tax reform if health care gets done. the benefit of the little bit of wait time, stuart, is because republicans are so angry, usually the house and the senate have only heard from the resist leftist socialist movement. now we are starting to hear from republicans who have been silent to go, if you don't get this done, i'm going hold you to account, if you leave me to obamacare, i'm going to be so angry, not only are we going to give you a dollar for reelect or vote for you, i will sit on my coach on election day and you will lose. stuart: before i close it, i have to tell you, i don't think the republican party realizes what it has done to itself. i don't think they do. >> many of us that do, stuart. this is serious stuff. i hear you. but i think time can benefit on health care which will get us to taxes. this is convoluted and crazy but enough time to get it done. i'm optimistic that the glass is half full. stuart: you have to be. you're up for reelection next november. you have to be. >> i have to be. stuart: congressman duffy, you're a good man. jane sanders, the wife of presidential candidate bernie sanders, jane sanders says sexism is fueling the investigation into her alleged bank fraud. judge napolitano back with us from vacation and in the studio this morning. >> another example of a -- we have one in the oval office, a celebrity client not taking the lawyer's advice. this is a very close case whether she committed bank fraud. it can way one way or the other. why do you taunt to alligator before it cross it is stream, why do you accuse the fbi of sexism. the case is a close one as to whether or not she engaged in bank fraud. the money didn't go to her, it went to a college to which she was a president. the college defaulted on the loan and the property was pledged security for the loan never materialized. it was promised from donations of wealthy alumni and you taunt investigators saying you only come after me because i'm a woman. stuart: she's accused of fraud saying i've got x amount of dollars coming in, that will finance the loan and repayments which i'm going to get for this college. >> close call taunting the people that are investigating you or impugning their motivation, it's sexism, not law firm, is going to have a negative effect on whether or not she is a defendant in a criminal case. stuart: i want your judgment again. you passed judgment, the big 5 technology companies specially amazon have acquired an extraordinary level of power influence, press eenl -- prestige and money, is there anyway of reining them in. >> as a defender of a free market, i'm sorry to tell you, yes, there is a legal way to rein them in. stuart: by the way i'm with you on this. i don't want to rein them in. >> some cases free, the government if it wants to could rein them in by forcing them to split up and have separate ownership. stuart: i don't gheat. >> they did it to rockefeller with standard oil of new jersey. he made the price of oil so low, it was a beautiful thing after they broke up standard oil of new jersey, what happened to the cost? went up. supreme court opinions interpreting the language are so broad that a gaggle of antitrust lawyers in the doj could look at amazon and say, it's time to break them up. five lawyers saying, it's a good thing what they're doing. it's so subjective. stuart: if you took them on, we are checking you out, that would be very bad news for amazon. >> absolutely. stuart: the stock would almost certainly go down. >> remember, i told you the latest thing about the medical prescription, the doctor scans it in, am stone fills it and deliveries to your home. the prescription is in your house before you get home from the doctor's office. stuart: amazon proposes that maybe they will sell the transcripts of your relationship with alexa with third-party developers. >> do you know anybody that reads the fine print and objects to fine notices -- >> other than you, no. >> nobody else objects. stuart: buy the alexa. >> right. the government i can't avoid but the alexa i can. [laughter] >> he's a good man next to you. stuart: the judge is point ago cross the table. [laughter] stuart: thank you, everyone. check this picture out. we have bill clinton peeking through statutes of his predecessor and prepredecessor. >> that is funny. [laughter] >> next we are going to be joined by usa president, he was deputy secretary of health and human services, a big sticking point in health reform, a bail-out for the health insurers, his take on this in a moment. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] mmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to save $500 off bath walls with your walk-in bath or visit kohlerwalkinbath.com for more info. nicole: i'm nicole petallides with fox business brief. another day, another record for facebook and today we are seeing it right now slightly lower but hit an all-time high of 178. winning year thus far, in fact, this year it's up almost 40%. today we focus on facebook as it does hit an all-time high. they have noted that they are figuring out where to put more ads and with that they will see more rev mui growth once they manage to do so. they added 76 million new users and have roughly 2 billion as of now. stuart: latest on health reform. the senate will delay voting on the bill while senator john mccain recovers from surgery. we are joined now by hhs deputy secretary, former hhs secretary alex. alex, we now hear that senator mccain will be out probably for more than one week, so a vote on the bill will be more than one week hence, that looks to me like pretty bad news for health care reform, what say you? >> well, i think as karl rove said earlier on the show, it depends on how you use the time. if you take this window and allow the democrats to keep creating a narrative of taking insurance away from people, increasing cost, et cetera, that's a bad thing. if instead you use this time and the president, the vice president, the leadership, our educating senators and congressman about the good elements of this program, what it's going to do that is certainly better than where we are under obamacare now, if you educate the people about this and bring them along, then that's a good use of time but folks have to be out there talking about this to the point that they almost want to throw up, they're so tired of explaining all of the good things and the change and unfortunately that's not really happening right now. stuart: in the next couple of days, maybe tomorrow, latest cbo scoring of the latest bill and inevitable that is going to come up and say x million people will be dropped from coverage. inevitable it is going to be a negative. that's not helpful. >> that's right. that's right, stuart, every time -- i don't know why everyone keeps thinking that when cbo comes out with a new score, somehow it's going to be a miraculous thing here. cbo is notoriously bad at predicting dynamics of the insurance market. they have never gotten it right. they do fine job as normal economists but when united health care, aetna, anthem, when they can't predict risk pool, enrollment levels for the coming year in obamacare, how the devil do we think that a bunch of economists in washington in the government are going to do a better job than them predicting ten years out. stuart: they never got it right in the first place as i recall. >> miles off, miles off. that's where republican leadership ought to be creating a narrative explaining the good things they are trying to do in this bill. stuart: you have to fight the media. x million off, it's a terrible thing. it's guarantied. the other side of the coin is senator rand paul, vocal opponent of the bill, he says this bill before the senate would create a super fund to bail out insurance companies. is that accurate? >> i don't think it's accurate at all although rand paul's concerns certainly ought to be listened to. he's a good voice on the right to help keep the debate honest here but frankly these payments to insurance companies in the states are what you and i talked about before, risk adjustment, reinsurance, risk corridors that help efficient insurance place market function in the unpredictable world of not knowing who is going to enroll in your plan. listen, these can be implemented in a way that end up being sub said -- subsidies and could also be implemented in way that is lead to lower cost insurance and stable risk pools and very healthy stable market specially with the cruz amendment that currently seems to be in the package because what that's going to do, i think, pull out of healthy young kids and leave older and less healthy in the exchange and what senator cruz said, let's put $70 billion to support but let's not do that on the backs of the young and healthy which is what obamacare does. aurt stuart would you vote for this bill as it's currently presented in the senate, if you were a senator, would you vote? >> stuart, you and i generally agree that the status quo is pretty bad and any change to productive is a good thing. i would like to see more changes. i was disappoint today see removal of reduction in personal income tax that is are in here that are killing growth. stuart: i'm sorry, to interrupt you, alex, if you cut right through to it, i keep saying that something no matter what it is, something is better than nothing, where do you stand on that? >> it's very diernlings let the perfect be the enemy of the good specially when you to get 50 people in the u.s. senate to agree to it. [laughter] stuart: you're a diplomat. alex azar, you know what you're talking about and we appreciate that. >> thank you. stuart: historic moment for roger federer, record-breaking eighth wimbledon title. what a performance who is 35 going on 36. we will be right back. >> wow. >> i totally see myself playing here this time next year because it's far away and because of what happened last year, i would like to thank the opportunity to thank the people in the very moment and make them understand that, yes, i hope that i'm back, there's never a guaranty specially not at 35, 36, but the goal is definitely to be here again next. stuart: he might be back. ashley: why not? stuart: first man to win eight single titles at wimbledon and topping the all-time grand slam title as well. i want to move to golf, president trump attended the u.s. women's open at the trump national gulf club this weekend in new jersey, 22-year-old won her first lpga event. she won the whole thing. the red sox and the yankees played three games in two days. a double-night -- a day night double header sunday following a 16 inning marathon saturday. the team split the double header. aaron judge robbed of two-run. ashley: you like that. stuart: is that him? whoa. he caught it. now, that's a catch and a half. [laughter] stuart: okay. bob wolff sports broadcaster for nearly 80, the only man to call play by play, including don's perfect game in 1956 world series and also called the colts--giants 1958 championship. bob wolff died yesterday at the age of 96. i'm going to check the big board for you because we have no movement at all. worthwhile checking in. >> dead flat. stuart: thank you, elizabeth. netflix, earnings come this afternoon. liz chimed in earlier saying they have a lot of debt and that might come up today. >> a lot off the balance sheet. stuart: 160 on netflix as we speak. this may be positive news for the economy. new data from google, it shows more people are searching for information related to home buying, that would be new home buying. first time home buying, right? >> 11%. people looking in google and critical to industry, we are suffering with lack of invent other and because of that prices are going up. it's kind of stagnated a little bit but millennials still struggling because of stagnating wages to get enough money together to buy a home. that is the problem. >> that new york fed study on that issue was illuminating. after the housing bubble, after fannie mae, freddie mac bailouts, after everything, the democrats wanting to fix income inequality with everybody getting a home. home ownership rate is still same level in 1985. the reason is because millennials are not coming into the market and merely half live with their parents, that's up from a third in 2004. ashley: they are not sold on home ownership. after the financial crisis and everything they saw what happened to a lot of people, maybe they want to spend it on experiences instead. stuart: in my opinion, what a mistake. first thing i did when i came to america, buy your first house. >> no matter the rate. stuart: 12 and a half percent. all right, there will be more varney after this . . . . stuart: key points pro today's program. senator grassily told us there will be tax cuts by christmas. item two, amazon may be thinking about a messaging app, may be coming up with competition for blue apron. blue apron in the doldrums, way down, below its ipo price. my time is up. neil cavuto, it is yours. neil: thank you, stuart, very, very much. we're following those developments. we're focusing on health care delay because john mccain recuperating at his home. making opponents make their case, torpedo this thing maybe for the umteenth time. amy, to you first, i just see trouble afloat here longer this is delayed. i don't think it helps, i think it hurts. what do you think? >> i definitely agree with that statement. senator heller is in a bit of a pickle, no matter which way he votes we come from a state that expandedai

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