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tv   Varney Company  FOX Business  January 20, 2017 9:00am-11:01am EST

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0 >> final thoughts. >> unity. >> dagen. >> great day. >> dagen mcdowell, we'll see you later. "varney & company" begins now, stuart, over to you. >> well done. you set the perfect mood. good stuff. now, we are precisely three hours from donald trump's presidency. the press and the pageantry have begun. good morning, everyone. donald trump, well, he transformed politics. he has a trance to be a transformational president. his cabinet is by far the most conservative of any president. all business with thi team. he promises to change the nature of government, the opposite of obama's all government all the time and promised to restore is a conservative majority to the
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supreme court. this is going to be very, very different. 18 months ago he came down that escalator at trump tower and his presidency had begun. he claimed the prize, concerts, fireworks, and this appearance at lincoln memorial. a tapestry. you see the family at the lincoln memorial. flanked by the military. it's not a universal celebration. the trump haters out in force, violence in washington. and there was a protest. they've failed to bring down the mood. supporters across country.
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the parade route is jammed. it's a special day, sit back, you have a front row seat as history unfolds. ♪ proud to be an american where at least i know i'm free ♪ ♪ and i won't forget the men who died, who gave that right to me ♪ >> tomorrow, we have a speech, probably around 12:00, it may rain, it may not rain, i don't care. doesn't matter. i mean, the truth is, if it really pours, that's okay because people will realize it's my real hair and that's okay. [laughter] >> probably around 12:00. no, it's going to be at 12:00 mr. president elect. he set a patriot mood for
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today's inauguration festivities. the president-elect clearly pumped for today. he was up early this morning, tweeting up a storm and it all begins today. i will see you at 11 a.m. for the swearing in, the movement continues, the work begins. on the phone from the presidential inaugural committee, boris epstein is with us now. boris. >> hey, stuart. stuart: a lot of protesters out there are trying to spoil the day. what say you? >> well, here i am on the steps of st. john's and i will tell you that the mood is resolute, it's jubilant, it's excited and we are so honored to be able to be a part of the moment when we come together as a country and move forward stronger. stuart: boris, do you have any idea what will be in president-elect and now almost president trump's inaugural speech today? any idea? the key message and theme will be what woof he a--
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we've talked about you, prague matism, getting america work again and the tax burden down, making sure america is a leader and a beacon around the world. stuart: boris, can you confirm with us that the president, president trump will get down to work as soon as he's inaugurated and signing executive orders right around, just after 12 noon, can you confirm that? >> i can't confirm the specific time, what i will tell you this president-elect in three hours president, donald j. trump is here to get to work. that's why throughout the planning as part of the inaugural committee we put things in a shorter parade instead of a parade sometimes as four and a half hours, it will be an hour and a half a little more, instead of ten inaugural balls we'll have three wonderful exciting inaugural balls, and two official balls and one saluting the armed services and first
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responders, the police, emt's, fine men and women who keep america safe all over the country. this president is here to get to work, stuart. stuart: boris, thank you very much, boris is on the steps of st. john's episcopal church in d.c., the president-elect and i guess,what, the future first lady, the future lady, first lady elect? they're in the church left-hand side of the screen, st. john's episcopal. later they'll be driving to the white house for coffee with mr. and mrs. obama in the white house, a few minutes away. look at this, new fox polls just out this morning, take a look, please. 66% now say they're optimistic about the economy. way up from january of last year. that's a huge gain in the optimistic component if you'd like to put it like that in just one year.
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46% say it's extremely important for president trump to focus on the economy first and jobs first. tammy bruce is with us. i want to focus on the optimism because i do perceive a change in the mood of the whole country since the election. >> look, the last time we felt this of course was with regul rn coming in after carter. many watching don't remember that, they're too young. it's about the sense of self, the potential for the future and the economy, of course, he's worked on the economy because the economy relies on optimism, doesn't it? you've got two-thirds of americans already in the right space to make this work, i think it's exciting, but what they also realize, this is the important thing about this president, the difference between having elected a president in barack obama who had no background, and a president who has one in business. so we know that he's able to deliver. he's already been doing it. and i think that they expect even more as they should. stuart: we've had a long
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farewell from president obama, a very short farewell tweet from vice-president joe biden. here it is, 15.8 million new jobs, 20 million more people, 165,000 from war serving as your vice-president was the greatest honor of my life. >> i have to tell you we've been sending troops into poland, recently where we've had to bolster up the border. obviously, part-time jobs that took away that people moved into when their regular career jobs were destroyed. it's about the facts of the matter underlying the comment. lizzie. liz: obama created 10.9 million jobs not the 15 million, wrong what joe biden cited becse they knock out 2009. when you include reagan's first year, reagan's first year, and through his whole term, he created 16.1 million jobs. stuart: when the population of america was 30, 40, 50 million
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lower. liz: and biden inflates. ashley: closer to 14 million of which 11.8 were on medicaid, deceiving the way they-- >> it's topspining. stuart: we deconstructed that vice-presidential tweet, did we not? let's move to the markets briefly. it's inauguration day, but the markets are open and we'll have a very modest up-tick at the opening bell and i expect volume to be very low. when president trump speaks at noon and we find out what's in his opening speech, then we may see the market move, but look how far we've come just since election day november 8th, the dow is up 7%, s&p 5, nasdaq up 6%, a very significant rally just since election day. we're going to give you a live look at capitol hill. in less than three hours, you will see donald trump on that stage taking the oath of office. watch history unfold, we say that many times.
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that's newt gingrich walking in there and that's the stage that donald trump will occupy in less than three hours from now, i do believe. okay. president-elect trump ready to hit the ground running. he plans to sign orders, undoing some of president obama's policies in the first hours of his presidency, we're on that one. then there's this. new york mayor's bill deblasio organized a star-studded anti-trump thing, the same tired thing, trump is a racist, a sexist, a bigot. let's get rid of that. shocking, a bow at a protest in d.c. last night lights in fire in the street and says he did it because he hates the president-elect. we bring this stuff to you because you really ought to know who is saying what. where are the parents? we'll be back. [vo] quickbooks introduces jeanette.
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>> now, the market, as in the
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stock market. it will be open today. we really don't expect a great deal of activity, but some individual and some big named stocks will be moving. tesla is going to go up a little bit at the opening bell. they're not going to face a recall or a fine resulting from that fatal car crash with the autopilot system in florida last may. no fine, no recall, stock goes up. ibm posts its 19th consecutive quarter of falling revenue. in other words, rest money coming in for 19 straight quarters. the stock will open just a little bit lower this morning. that's a couple of stocks that are moving. now this. a boy, he's a protester, he's out in d.c. late last night. where his parents were, i have no idea, but he starts a fire to protest donald trump and then brags about it. listen to this. >> this fire was started, in fact, this young man you're participating in the fire, what's your name? >> my name is carter and i kind of started this fire.
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>> why did you start that fire, carter? >> it's cotter. >> sorry, why did you start that fire? >> because i felt like it and because i'm just saying (bleep) our president. >> lovely. ashley: isn't that great? >> really. kevin jkz is with us. my comment is this, kevin, you saw that, you heard it. where are the parents? >> geez, it's unfortunate, stuart when this type of thing is being taught to these young kids. he didn't come up with that on his own and you know, we're about to enter into an amazing time in american history where we've jetson the losing ideas of left. i wish i could put some money in the markets how blacks are going to do, how women are going to do, how the economy is going to do overall. let me tell you it's an amazing time and this kid unfortunately has been taught to hate something he doesn't realize what's going on.
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stuart: it's interesting you raised those three elements there, black folks, women, et cetera, et cetera, because there was a big protest last night in new york city organized by mayor bill deblasio, a lot of celebrities with there and came out with that same old tired theme, trump is a racist, a bigot, et cetera, et cetera. that seems to me to be a tired theme and i don't think-- i don't want to hear that on this day of inauguration. how about you? >> right, exactly. this is the wedding day of america. we've jettysonned our old beau and we should be celebrating it and they're going to ruin the wedding. as far as deblasio goes, we could play the trick and say if this were obama would any mayor dare do something like this? no. it okay to go after trump because we are in a time where going after rich white
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republicans is in style and in vogue. i'm glad it's going to end. and when they're back to work they won't focus on secondhand smoke and we'll get things in order. i'm saying that mr. trump has the chance, the opportunity, if you like, to be a truly transformational president. >> i agree. stuart: you agree with this? he's proposing such a radical difference from almost anything we've seen in the past. he could truly transform america. >> there's no question, stuart. he's already started and the first thing i will tell you, donald trump will do more for relationships with race in this country than barack obama could do in five lifetimes and it will start with blacks being able to go back to work. but beyond that, just look at what'slready happened. i don't believe in any transition period in my lifetime, i've seen anybody do so much good, whether you look at the beginning of it, with carrier, and you look at what
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he did with ibm, boeing, softbank, ali baba and many others and i'm sure you've talked about the companies and these are real jobs created not fake jobs. stuart: on the left-hand side of the screen, kevin, i don't think you can see it, but our viewers can see, that's the scene in washington d.c., tens of thousands of people arriving. and most of them, by the looks of it that we're showing are trump supporters. i don't think the protesters are going to spoil this, kevin. >> not going to happen. last night i was at an event and they ended up throwing some, i believe, not pepper spraying, but whatever they put to move the crowd back, but it wasn't as bad as people thought. the other thing i can tell you, it was evident that these people were paid. they'd had no idea-- it wasn't-- were told to be anti-trump, but they weren't, they were paid, and that's what they were there to do, to be disruptive.
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nothing is going to happen today. going forward and who knows whether trump will go to work immediately. i've heard from insiders that he's going to go immediately that he'll issue executive orders so today will be the first day. i'll tell you this, the world is optimistic, not just america, we have a real leader, a person who knows how to run an economy. stuart: kevin jackson in d.c., wish i was going there for the big day, but i'm stuck here in new york. [laughter] i can take it. thank you for being with us, sir. how about this? mexican drug kingpin el chapo extradited to america last night. and there are reports that mexico did it before president obama left office because they didn't want a president trump handling a transition. ashley: and el chapo means
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shorty, by the way, but his extradition protests were overruled by mexican federal judge, who promptly released him and put him on a plane and he arred at long island as islip. he's facing half a dozen indictments, homicide, kidnapping, drug. and famous for his houdiniesque escapes. >> he'll be in court 2:00. >> and do the perp walks you don't do the perp walks with the if he understands. >>. liz: would he don't know the political implications of obama and some say it's not trump. stuart: the timing is very, very interesting. liz: sort of remind you of reagan with the 1981 hostage release, which the carter administration negotiated. stuart: last point? >> there are guest protests
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happening in mexico, and lowest in history because of the gas tax hikes, that might be a distraction for them. stuart: on your screen now, the left-hand side, i believe that's outside the st. john's episcopal church where mr. trump and his wife are attending a prayer service. on the right-hand side of your screen, people are assembling, waiting for the big day, the big moment i should say, gnawing of donald trump. check this out, it's the bible used by abraham lincoln in 1861 when he was inaugurated. a few hours from now, president-elect trump will put his hand on the bible and swear the oath of office. we'll be back.
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>> throughout this historic day, you're going to be seeing scenes like this as the day unfolds. left-hand side of the screen, st. john's episcopal church. there's a prayer service in progress there. shortly they will be leaving there and donald trump and his wife will go to the white house. you will see them leave the church and see them go to the white house, they'll be entertained for coffee with the current occupants of the white house, president obama and first lady, michelle. you'll see it all unfold right here. you're about to see something
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that is historic. this is the final walk of president obama as he leaves the oval office for the last time. i guess you could call this history 'cause just let this thing play out. you're about to see the president. he's going to be holding a letter, which he wrote to donald trump. you'll see him emerge very, very shortly. that's a letter, he's holding it, who knows what's in it, but he's going to put it on the oval office desk, walk out, and off we go. history is being paid and you'll watch it unfold right here. stay with this until it happens. stay with it until we see mr. obama-- no, i'm sorry, president obama, this is history, we're watching it very, very closely. he's put the letter to donald trump on the oval office desk and he will emerge very, very shortly. throughout this day you'll see history made.
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you will see the incoming president and the first lady go to the white house and meet with president obama and first lady michelle. first lady michelle and president obama leave the white house and there he is with the letter putting it on what's called the resolute desk. that's a letter for mr. trump. that'shat hs doing right now. i keep referring to this, sit back, you have a front row seat as history unfolds on this inauguration day. in two and a half hours, donald trump will take the oath of office. he will swear on the bible, used by abraham lincoln in 1861, he will then be the president of the united states of america. he will make a short speech, well, it may be 20 minutes in length, i guess that's not exactly short, but it will be a speech and he will outline his goals, i believe, for what he intends to proceed with. talk about transition, there's a ladder in there and that's
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the president leaving the oval office for the last time that he will do that. yes, this is history. january the 20th, 2009 he walked into the oval office first time. january the 20th, 2016 he walks out for the last time. don't get seasick, the camera is moving a tad there. i want to get to the market and running it for you again, he's waving, that's the president. ashley: he's going to smile. liz: it was ronald reagan that started the tradition of leaving a letter, leaving it for george h.w. bush. >> that's a tradition, one more of them. the dow has been up 1,000 points since the election. a fox poll in, 23% trump did it, and 13% obama did it and over 60% say the market did it.
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that's vice-president joe biden with his wife jill also walking around just outside the oval office. we're bringing you history as often as we can, because it's unfolding right there. look who is with me now. this is history, charles payne is with us. i want you to comment, first of all, on the overall sense of optimism not just in the market, but in the economy and the overall society. >> oh, it's there in every single measure that you could see. we saw it yesterday, philadelphia manufacturers, the highest level in two and a half years and plan on hiring people. every single day something comes out, whether from small business, large business, but also we're starting to see it material-wise, we're seeing it in early earnings reports and hearing it from corporate executive and so it's manifesting itself into reality and also we want. stuart: aot of people-- let's refer to the market for a second and you hear this all time, you buy the election and people did because the stock market went straight up, you sell the inauguration.
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>> yeah. stuart: well? >> i'm really-- i'm pleading with individual investors, or would-be investors watching this show, please don't fall for this. remember, this is being put out there by the same wall street crowd that, a, said donald trump wasn't going to win, that, b, said the market is going to crash. and i worry, when markets break out to all-time highs, people often don't participate. don't fall into that trap again. stuart: i'm reading between the lines of what charles payne is saying and appears to me you're saying there's another leg up for this stock market. >> right. stuart: after the inauguration. >> i'm looking for a massive leg up over the next two to four years, obviously, we'll have bumps here and there, i think it would be a shame for people who voted for this maybe not participating. stuart: you only get that rally if donald trump does what he says he's going to do. >> right. stuart: cut taxes, deregulate and obamacare, it's got to come
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fast. >> it's got to come fast. let's not put an artifical time frame on it. we help sabotage the rally. as long as the market goes it's happening, i think we're okay. stuart: the market is opening now. it is 9:30 eastern time. this is friday, january the 20th, and the dow has gone straight up at the opening bell. how about that, charles payne? >> not too bad. [laughter] >> 81 points up. what's this nonsense about, you buy the election and you sell the inauguration? this is inauguration day and gone straight up in 30 seconds. don't listen to the wall street elites. stuart: the choir getting underway and look at this. up 85 points. 19,800. listen to this music for a second.
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please. ♪ every mountainside, let freedom ring ♪ ♪ my native country thee ♪ >> it is. ♪ >> now, we don't have to bring you this music, but we do because it is beautiful. it's a wonderful day, a bright, sparkling upbeat and positive mood and these youngsters singing that wonderful music for us. why not watch? there is mr. trump, emerging from st. john's episcopal church in d.c., the prayer service has concluded. first lady melania, i make no comment on the outfit. >> i do, it's absolutely amazing. >> great color. >> jackie o-esque, the gloves
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will come back in style. ashley: they drive to the white house, the mode cade and grated by barack and michelle obama. stuart: president obama still and first lady michelle. ashley: soon we can drop the elect. >> you said that donald trump would swear on the bible. i think swear-in on the bible. stuart: i think you're adding-- >> jovial. stuart: the stock market 80 odd points higher. mr. trump emerged from the church service at st. john's episcopal church and gotten into the motorcade. that's vice-president pence and his wife. they will shortly be moving en masse to the white house. they will be greeted at the white house by president obama and first lady michelle. they will go inside the white house to be entertained for
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coffee so that should last about 15 minutes, i think. liz: i think we're getting the tweet ready to show the viewer what mike pence tweeted out. we begin this historic day as we do every day with a moment of reflection and prayer, the work to make america great again today. stuart: it's historic and i think we're deeply privileged that we can sit here and comment on this unfolding of history on an extraordinary day. >> i agree. and even watching president obama leaving that letter, you just-- the whole thing, the whole transition, it mas you proud. all of the noise who is on what side and that side, this is one of these days where everyone should have some sense of pride in this country. stuart: yes, and absent from the picture you're looking at now are those demonstrators who are determined to spoil this occasion. they're nowhere in evidence at this point. they may well make an appearance later on this morning, i'm sure they will, but they're not at this point
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spoiling in any way this mood of patriotisational celebration. liz: and so what will we expect from trump's, the president-elect's speech, the fulcrum of optimism and we're looking for messages in his speech. will he come up with one-liners that are memorable, like jfk, reagan and the issue for american, it's for the forgotten man who i'm saying this, the forgotten man and woman has been kicked in the teeth by globalism. paul ryan says society is at the center of american life, not government. you may see hints of tones of those messages in donald trump's event. ashley: maybe the first blue collar billionaire to appeal to the masses and we heard from sean spicer that basically gives donald trump's personal vision where this country is and where it should be.
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stuart: charles payne, do you want president trump when he makes the initial speech, do you want him to say let's all pull together, let's have unity, let's come together or issue a ringing endorsement of economic growth and progress for our society? >> i think they're the same message and he said it last night on the steps of the lincoln memorial. he says i'm going to unify the country and i love hearing him say that over and over again. if he connects the dots, folks in rural america and the inner city, every time he speaks he connects the dots they have so much more in common than not in common, ignored by the elites. liz: go ahead, ashley. ashley: he will be the oldest person to take the oath of office, 70 years and 7 months, ronald reagan, 69 of the years old and the first president not to have any political or military service, a true outsider. stuart: charles, i'd love to have half of the man's energy.
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half of it. >> in the final days of the election process he hit five cities in three time zones and hillary was somewhere holed up in manhattan sipping a latte hoping she could run out the clock. >> van down by the river. stuart: and 91 points up for the dow jones industrial average. and president-elect trump is behind that secret serviceman, we heard a beautiful choir singing lovely music as this inauguration proceeds. i am not quite sure who that is getting out at capitol hill, entering the building. not sure who it is. the dow industrials are up 0110 points. whatever happened to that nonsense, you buy the election and you sell the inauguration? it's now positive for this year. the calendar year, it's up 107 points, 19,839. no, i am not going to say that on this inauguration day we'll
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hit 20,000, not going to say that. [laughter] >> thank you. >> and maybe monday when the executive actions come in. >> exactly. stuart: look at the crowds assembling on the right-hand side, look at that, those are trump supporters and they will be issuing forth loudly when the president takes office, formally 12 noon today. liz: there were notes of kindness and elegants last night at the lincoln memorial. toby keith sang to president obama for his service to the country. it's ironic that obama started-- president obama started his office with that vision of hope, remember that poster you have in your head of hope and now, it's interesting that hope is here in the markets, i say that because small business optimism is up, purchasing managers index is up, consumer sentiment is up. will this hold though, that's the issue. stuart: who is that on the
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right-hand side. >> dan quayle. stuart: former vice-president dan quayle with the red trump make america great hat. they're going inside the capital building and they will be there before they come out on the steps right there. >> a lot of observers try to say who is donald trump like with regard to previous presidents, they came up with andrew jackson economic populism. richard nixon's renowned dislike of the media and ronald reagan's mainstream values. that's as like as you can come to donald trump. they are actually a little early on the schedule. the president-elect was not pposed to emerge from the church until about five or six minutes from now. he's already out. already in the motorcade. and it looks like the motorcade is beginning to move forward a little bit. . ashley: getting down to business. >> he's probably already saving us money. [laughter] love it. stuart: can we just listen to a little more music as we see the
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motorcade move away? are they still singing? just bring it up full, please, i want to hear this. oh, i'm stopping the singing for a second because that's vice-president elect pence's motorcade arriving at the white house because they are also going to -- inside there and that is vice-president joe biden greeting the vice-president elect and his wife jill, they're greeting them right there on the steps of the white house, about to go inside. shortly thereafter, donald trump will arrive with melania and they will be greeted by president obama and first lady michelle. now, are the youngsters still singing, he asks? they are not. i'm sorry i missed that. liz: you loved "my country 'tis of thee". stuart: it's a very, very special day, i'm determined the demonstrators and protesters
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will not under any circumstances mess with the mood.
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