Skip to main content

tv   Varney Company  FOX Business  January 23, 2017 9:00am-12:01pm EST

9:00 am
instead of my company buying it for me tax-free. i get that money and buy my own insurance and whatever i don't spend i put in a health savings account. maria: great ideas this morning, thanks for joining us, everybody. rudy guiliani, chrkristen. stuart, over to you. stuart: the president is off and running. it's action monday, president trump is sitting down with business executives and talking manufacturing jobs in america and he's on a roll. fox conn is considering a plant, 30,000 jobs here. realignment of trade agreements has begun. britain's prime minister arrives friday, a two-way trade deal possible. president trump meets canada prime minister and mexico president in early february. nafta tops that agenda.
9:01 am
in 90 minutes executive order signings, one will officially withdraw the u.s. from the trans-pacific partnership and the president signed an order not to enforce the obamacare mandate. there's more, the president will map out his legislative program with speaker paul ryan today. he'll meet union leaders talking trade ap jobs today. his cia pick will be confirmed today. this was the trump tweet three hours ago, started it rolling. busy week planned with heavy focus on jobs and national security. yes, this president is off and running. ignore the noise about crowd size, media contempt, or excellent tantrums, this is action monday. it starts the first full week of the trump presidency. "varney & company" is about to begin. ♪ >> yes, we're calling it
9:02 am
action monday, why not? you're looking at the white house and i'm going down the list for today's agenda. president trump's having breakfast with business leader. one we know, the under amour executive. he signs executive orders, meets with union leaders and house speaker paul ryan. a busy day, busy agenda and we're on it. and jobs m manufacturing in america, yes, little reaction from investors at least in the early going, there's no really clear trend thus far this monday morning. however, look at mcdonald's, had their numbers out about an hour ago, sales up globally, down in america. all day breakfast, they say, is still doing well for them. it's been in place for about a year. the stock will open pretty much flat. how about a price of apple stock? iphone maker fox conn is considering building a plant in
9:03 am
the u.s., apple is up 8% since the election. let's see what happens when the market opens later on this morning. i'm going to say though that that fox conn possibility is a trump win. ash, is it? >> how could it not be? this is part of that $50 billion investment announced last month. stuart: i think it's on top of it. ashley: it's on top of it. that came out and fox conn was surprised. it was not supposed to be made public. they feel under pressure, there's no guarantee, but a display panel making facility, could create from 30 to 50,000 jobs. so, it's a huge investment. liz: the big problem for-- because fox conn employs a million workers in china. china does not want to let fox conn goes. what happens in china, they could street protests ap rioting, when factory workers
9:04 am
get cut, apple gets a fifth of overall global sales from china and they've got to be diplomatic about this. stuart: producer, tell me again, we've got another list of executives arriving to meet with the president. tesla, corning, johnson & johnson, lockheed martin, international paper, whirlpool, all of them, their executives all in there right now, discussing jobs, and manufacturing in america. liz: when have you seen that? when have you seen that? >> never seen that before. this is radically different than any approach to business we've seen from a president in my lifetime and i'm an old guy. [laughter] now, lets he a-- let's talk about action monday for president trump. meetings all day long. marsha blackburn from tennessee, can you tell us what can you expect to get done today? firmly done, in place today? what's going on? >> what you're going to see come about today is, of course, the confirmations for the cia
9:05 am
director and stuart, when it comes to meeting with these executives, this is going to help the president, the administration, and later, in the president's meeting with speaker ry, termine where we need to go first. executive orders on their side, congressional review on our side? because it's important that these leaders talk to us about what hurts them the most when it comes to keeping jobs here, dealing with compliance, getting down the cost of compliance. stuart: okay. we've heard that one of the executive orders that the president will sign in about 90 minutes concerns the withdrawal from the trans-pacific partnership, that massive global trade deal. he's going to withdraw from that. and on friday he said you don't have to comply with the obamacare mandate. those are two big steps taken
9:06 am
already and he is inaugurated on friday. >> that's correct. what you've seen on obamacare side, it's relief for hundreds of thousands of business owners and individuals that have struggled in that individual insurance marketplace. when it comes to tpp, it sends the message that we're going to be more thoughtful, for thorough and more directional and look at bilateral, instead of multi-lateral trade agreements, and think about the american worker and the american economy first. how does this affect us? not just for today or tomorrow, but in the long-term. stuart: it's extraordinary that if i looked across the media this morning, they're all discussing crowd size, or hat-- forgive me for bringing this up, but it's astonishing what they're talking about. >> good talking to you. stuart: last word to you.
9:07 am
i'm sorry i'm moving on fast because it's a full agenda. marsha, we appreciate you being with us. >> absolutely, good to see you. stuart: sure thing. now, hundreds of violent protesters turned out at last week's inauguration. those who were arrested may now be prosecuted for felony rioting. that's a very serious charge. look at them. smashing windows, setting fires, up to 100 arrests. they're going to be prosecuted on felony charges. do i hear a round of applause? [applause] >> there you go, you've got it. stuart: on saturday, millions around the country marched against mr. trump. our guest was there, joining us is david webb from sirius xm patriot. >> and by the way, marsha blackburn, last word, you're right. stuart: you were there, at the woman's march and talked with the marcher and what was your
9:08 am
sense of what they wanted and where they're coming from. >> not much. we want our rights, and abortion rights, and i'm asking the question, how is president trump going to take your rights? they couldn't answer. you've got the hippy, and the younger generation, who is ill-informed which is dangerous, it's about money and control, the rn signs, yellow signs printed, all had emily's list. what was emily's list? created to get democrats and especially hillary clinton elected to the white house. so, this is a big money event to get a voting block together for the democrats. stuart: do you see this as the beginnings of what they would call a resistance movement? >> no, because here is the thing. if you have a loyal opposition, a resistance to the trump administration, then your battle is on policy. your battle is not scattered
9:09 am
all over the place, this is more about getting their contingent, their group together of women who apparently represent all women, but women on the right. this is not a women's march, it's a women who agree with liberalism march. stuart: i don't know, but i can't imagine women representing by people who are foul-mouthed in our nation's capital. >> you look at what madonna said, and would anyone-- >> and women brought kids and women were wearing obscene signs, obscene signs and references. we agree the right to be peacefully assembled and voice your machine. wh what-- opinion. the next generation, children, they should have a chance to make up their own mind. they're interested in enforcing a narrative. this is what you should believe
9:10 am
no matter what you think. stuart: and david, thank you for being there for us. >> and by the way, the congress woman in the red dress, and i had a red vest. family pictures. >> the super bowl lineup was set. patriots against falcons. the patriots beat the steelers. sunday, february 5th, that's super bowl sunday and you'll see it on your local fox station. bad news for beer drinkers, sierra nevada issuing a 36 state recall for eight different types of beer packaged in glass bottles. they say a packaging flaw could
9:11 am
have put little chips in the bottle. bad news. back to politics and money, president trump making plans to meet with the leaders of mexico and canada and wants to start talks to renegotiate nafta, says it's a bad deal for america. and on friday we have heard something from a president that we haven't heard in eight years, eradicate islamic terror. that's a tall order, can mr. trump get it done? general jack keane on that next. options trade. well, we're all about educating people on options strategies. i won't let this accomplishment go to my head. get help on options trading with thinkorswim, only at td ameritrade. (snap) achoo! (snap) achoo! achoo! (snap) (snap) achoo! achoo! feel a cold coming on? zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45%. shorten your cold with a snap, with zicam.
9:12 am
9:13 am
9:14 am
>> it's action monday, it started, top brass from big companies in the white house, right there. already talking manufacturing, and who is there, ashley. ashley: a wide range of folks, let's list the companies represented, whirlpool, u.s. steel, dell, dow chemical, under amour, tesla, elon musk is there, corning, johnson & johnson, international paper, it's a wide range of industries
9:15 am
and the chairmen and ceo-- lockheed martin. stuart: again. ashley: again. stuart: as we've said earlier we've never seen a president like this do anything like that before. liz: right out of the gate. and manufacturers, too. stuart: thank you, liz. president trump says he's going to eradicate islamic terror from the face of the earth, listen to this. >> we'll reinforce old alliances and form new ones and unite the civilized world against islamic radical terrorism which we'll eradicate from the face of the earth. stuart: how about that? jack keane, military analyst, eradicate islamic radical terrorism from the face of the earth. can he do that? >> he can start to do that. that's what we do have now. we have not had leadership on this issue.
9:16 am
the reality is, radical islam has spread into a global jihad. it has expanded four and five fold in the last eight years and we have no strategy, stuart, to deal with it. we don't have any alliances to deal with it. we don't share intelligence. we don't share training and technology. this is the leadership that we need right now and the president can provide it with his administration, the world is begging for this kind of leadership. it's not about u.s. troops running all over the world to fight radical islamists, no, it's about countries having the ability within their country to fight it, but also, we must undermine the ideology. what is radical islam? at its core, it's a geopolitical movement to dominate the world based on a religious ideology. we have to undermine that ideology and we need the countries in the regions who are largely muslim to do that
9:17 am
and we can help them do it. stuart: so you don't see as american troops going into action somewhere around the world, anywhere around the world to fight it head-on. you don't see it that way. it's not that kind of military operation that's going to happen here? >> it's not that at all. frankly, we could send troops to assist in training because when it comes to the actual fighting of terrorists, we're the best in the world at that and we obviously have a lot of experience. no, this is underlining the ideology at its core and you have to-- here is where the whole of government has to become involved. when you're undermining the ideology you've got to help these countries deal with what is causing young muslim males to join this movement. well, when you put a microscope on those countries, what do you find? you find political repression, you find lack of economic opportunity and you find a lack of social justice. these countries have to make
9:18 am
changes to those conditions, which are ripe for recruiting radical islamists. stuart: general jack keane as always, thank you for joining us, general, thank you very much indeed. >> good talking, stuart. stuart: and president trump as you know, meeting with business leaders. ashley: a few headlines coming out of it. and telling business leaders that he will have meetings whenever you need them. you need to talk to me, we'll meet and have them in person over the phone and says he wants to bring manufacturers back to the u.s., reemphasizes that, we know that and prizing lockheed martin chairman, terrific. and he's going to cut regulations, out of control, and these are headlines from the meetings this morning. says he's very big on the environment, but, again, regulation is getting in the way and promises advantages for companies that make products in the united states. stuart: let's not ignore this. ashley: no. stuart: because this is a major
9:19 am
push to keep jobs here, bring jobs here. . ashley: he has captains of industry in the white house and saying this is the deal. stuart:'s got an open door. ashley: yes. stuart: liz, you've said it before. keep going back to this, i've never seen this before, nothing anything like it, period, 9:18 monday morning. liz: i don't know any other president who has done that. stuart: no, neither do i. and i've got to-- it's all happening, jam packed full. some could take a hit if the border tax, more on the retail ice age. and damaging thunder, tornados, to north carolina. cut off power, homes destroyed. tornados, heavy wind, oh, 18 people killed.
9:20 am
>> from the business meeting that's going on right now inside the white house, it started about 20 minutes ago. ashley: it did, and again, just want to talk about some of the interesti interesting, we say wide range of businesses represented, meeting right there inside that white house. it's 9:19 monday morning, day one of the trump administration and we're off to a flyer. whirlpool, ford, u.s. steel, dell, dow chemical, corning, johnson & johnson, under amour, spa spacex. they're getting the same message, i want to bring manufacturing back to this country. i'll give you advantage if you do that, get rid of regulation-- >> just as the show was starting, 20 minutes ago, the dow industrials were down 20, 30 points. now, we've got news of this big meeting. who is there, what they're saying, and what they're being
9:21 am
told and the dow is down a mere one point as we speak and we've got 10 minutes to go before the stock market opens. i wonder if we'll open ever so slightly higher in part because of this discussion that's going on now in the house. liz: he's going to be meeting with union leaders as well. in his inaugural address he talked about rusted out factories scattered like tombstones across the landscape of our nation and he was criticized for being too doom and gloom there, others are saying he's telling it like it is, it's the facts on the ground. stuart: and i want to talk to scott shellady, the futures have just turned positive. scott shellady is with us. do you like this, scott. here you've got the president of the united states, starting the first full week of his presidency, bringing in chief executives from the biggest corporations in america, and offering them the carrot of tax cuts and deregulation, and maybe the stick of a border tax
9:22 am
if you don't watch out. do you approve of this, scott? >> yeah, yeah, i do. you know what was great about the inauguration speech, hey, i said what i meant and i'm going to do what i said. you know what? for the outgoing president that never had 3% growth in any quarters for the first time ever, he's got a gdp between 1 1/2 and 2%. although the unemployment is 4 point whatever percent we've proven hand over fist, quarter on quarter, you cannot rescue this american economy with $15 an hour job. notice the difference, trump is going after manufacturing not the $15 an hour job, we've proven that doesn't work. i wholeheartedly support these efforts. stuart: john layfield, investor, you manage money. how do you feel about what the president is doing right now? >> right now, as far as who he's meeting with. you look at the ceo of under amour, i own the stock, has
9:23 am
done in baltimore, he's rejuvenated baltimore almost by himself. certainly parts of it and his company under amour. look at elon musk, the american recovery, we gave hundreds of millions of lithium battery marsnd they took the money and moved it to china. elon musk has taken on china and brought rockets and space age back to america. i think he's meeting with the right people. stuart: john, of the ten company executives who-- companies who have their executives there in the white house, their stock is up, slightly, but up in premarket trading. so i guess investors like the presidential approach. hold on, john, liz. liz: leading this group to advice wilbur ross on things like border tariffs and not letting company manufacture jobs overseas.
9:24 am
and counter this with president obama when he stepped in. appointed ceo of ge to lead a jobs council. disbanded, did not meet regularly and the president was criticized for treating them as a nuisance. he focused on obamacare. and some said he should have focused on jobs first, not health care. stuart: bully, do you think that's legit? >> there was a time when gloria vander built jeans or jordache screens were more expensive, but cool-- >> hold on, scott. we'll watch video of the president, that will be president trump walking into the meeting room where he's talking with business executives and you're going to hear what mr. trump has to say. listen in, please. >> mark, was nice to come here
9:25 am
and i wanted to sit next to him. [laughter] >> thank you very much, everybody. this is really our first official meeting and andrew, it's nice to have you set everything up so well and i hear your company is doing well. and i really do, i appreciate, we'll get to know each other well, we'll have these meetings, whenever you need them, but i would say every quarter, perhaps. you could say monthly and all of a sudden, monthly becomes repetitive, as we know. sounds good, but then you have to do it and it gets repetitive, but i would say probably on a quarterly basis. you are great people, you've done an amazing job. and the biggest in the world, and this is a world-wide meeting. and what we want to do is bring manufacturing back to our country. vice-president pence, good morning. >> good morning, mr. president. >> is very much involved with me on that, one of my most
9:26 am
important subjects, it's what the people wanted, it's one of the reasons i'm sitting here instead of somebody else sitting here and i think it's something i'm good at. we've already had a big impact. i want to thank mark and ford because you've been great. i think that-- i think that maryland is going to be terrific, but we're going to find out soon, right? that's lockheed martin, and we are going to-- i think we're going to have a tremendous amount of business coming back. if you read today's papers, you'll see what's happening with four or five different companies announced they feel much differently, fox conn is going to spend a tremendous amount of money on building a massive plant and probably more than one, so that's what we want. we want people, we want to start making our products again, we don't want to bring them in, we want to make them here, that doesn't mean that we don't trade because we do trade, but we want to make our products here.
9:27 am
and if you look at some of the original great people that ran this country, you will see that they felt very strongly about that and make your products and we are going to start making our products again. there will be advantages to companies that do indeed make their products here, so we've seen it, it's going to get-- it's going to be a wave, you watch, there's going to be a watch. i always said by the time you put them in the massive ships and airplanes and fly them-- what we're going to be doing is cutting taxes massively for both the middle class and for companies. and that's massively. we're trying to get it down to anywhere to 15 to 20% and it's now 35%, but it's probably more 38% than it is 35, wouldn't you say? that's a big thing. a bigger thing, and that
9:28 am
surprised me is the fact that we're going to be cutting regulation massively. we're going to have regulation and it will be just as strong and just as good and just as protective of the people as the regulation we have right now, the problem with the regulation we have right now, you can't do anything. you can't -- i have people that tell me they have more people working on regulations than they have doing product. and it's out of control. it's gotten out of control. i'm a very big person when it comes to the environment. i've received awards on the environment, but some of that stuff makes it impossible to get anything built. it takes years and years, you know, you can look at some examples, i read one recently where a man's been trying to build a factory for many, many years and his vote was going to be fairly soon and he gave up because he wasn't going to win the vote. spent millions and millions of dollars. actually ruined his life.
9:29 am
and we can't have that. so, if somebody wants to put up a factory, it's going to be expedited. you have to go through the process, but it's going to be expedited. we're going to take care of the environment and safety and the other things we have to take care of, but you're going to get such great service, there will be no country that's going to be faster, better, more fair, and at the same time, protecting the people of the country, whether it's safety or so many other reasons where regulations are. we think we can cut regulations by 75%, maybe more. but by 75%. have in a certain way better protections, but when you want to expand your plant or when mark wants to come in and build a big massive plant or dell wants to come in and do something monstrous and special you're going to have your approvals really fast. >> thank you, sir.
9:30 am
>> the one thing that surprised me that i want to hear what you have to say, but one thing that surprised me in going around and meeting with a lot of the people at this table and meeting with a lot of the small business owners if i gave them a choice of this massive tax decrease that we're giving for business, for everybody, but for business, or the cutting down of regulation, if i took a vote, i think the regulation wins 100%. now, in one case, it's hard dollars and the other case it's regulation, you would think that the regulations would have no chance. it's-- i've never seen anything like it, and virtually is happier with regulations than even cutting the taxes. so the regulations are going to be cut massively and the taxes are going to be cut way down. you're going to have now incentive to build. the one thing i do have to warn you about, when you have a company here, you have a plant here, it's going to be in
9:31 am
indiana, or it's in ohio, or it's in michigan, or it's in north carolina, or pennsylvania, anywhere in this country, when it decides-- when you decide, if you decide to close it and you no longer will have a real reasons because your taxes are going to be lower, by the way, if you go to another state, that's it, that's great. if you can go from ohio to indiana, or from indiana to ohio, that's fine, so you have 50 great wonderful governors to negotiate with, it's not like we're taking away competition, but if you go to another country, and you decide that you're going to close and get rid of 2,000 people or 5,000 people, i tell you, united technologies was an example with carrier and i got involved, you know, two years after they announced. so in all fairness, that was tough, but united technologies was terrific and they brought back many of those jobs, but if
9:32 am
that happens, we are going to be imposing a very major border tax on the products when it comes in, which i think is fair. which is fair. so, a company that wants to fire all of its people in the united states and build some factory soplace else and think that that product is just going to flow across the border into the united states, that's not going to happen. they're going to have a tax, a border tax, substantial border tax. now, some people would say that's not free trade, but we don't have free trade now because we're the only one that makes it easy to come into the country. if you look at china, if you look at many other countries, i don't have to name them, but many other countries, they beli we bring in things free, and if you want to sell things to other countries, and china, it's very, very hard, in some cases, impossible. they won't even take your
9:33 am
product, but when they take your product they charge a lot of tax. so, i don't call that free trade. what we want is fair trade. fair trade. we're going to treat countries fairly, but they have to treat us fairly. if they're going to charge tax to our country, if, as an example, we sell a car into japan and they do things to us that make it impossible to sell cars in japan, and yet, they sell cars to us, and they come in like by the hundreds of thousands on the biggest ships i've ever seen, we have to all talk about that. it's not fair. it's not fair. never was. i just can't believe it took so long for somebody to come along. so that's the only thing i will tell you. essentially i'm talking no tax, when you say trump is going to tax, there is no tax, none whatsoever. i want to tell you all you have to do is stay, don't fire your people in the united states,
9:34 am
we're the greatest people and many other countries have great people, we all have great people, okay? this isn't that kind of a competition, everybody has great people, but if we're going to fire people and build a product outside, not going to happen. thank you. so with that we'll take some, some questions, marilyn, you want to start. stuart: okay. some questions coming inhere, i want to st recap what the president said because that's very, very important stuff. he's offering -- here is the carrot he's offering business to stay in america, make jobs in america, massively reregulate, huge tax cuts and speed up in the permitting process if you want to build a factory here. do all of that and you're fine, but if you open a plant here, with those encouragements behind you, and then you close the plant and move it overseas, you are in deep trouble. that's the stick. don't do it, that's exactly what he's saying.
9:35 am
he's not bullying, he's offering the carrot on the stick. ashley: that's exactly what he's promised on the campaign trail and coming through with his promises, with so many politicians don't do. he's not a politician, he's sitting there like he's chairman of the board of trump enterprises except now he's president of the united states. stuart: i've got john layfield with me and scott shellady with me and ask them the same question. john, you first. have you ever seen anything like this before? and is this good for investors? go. >> i think it is good for investors. i worry about the retail stock, especially the apparel stocks, if you're talking about a punitive tax of companies who have left the united states, that's one thing, but if you're talking a straight border, a tax of all imports, that's something different. as far as welcoming the business leaders, these are the right guys in the room and good for business. stuart: scott, have you seen
9:36 am
anything like this before and is it good for investors. >> ultimately i think it will be and he's not a republican, he's not a democrat, he's a common sense-ocrat. he's opening the doors by those being wooed to other countries and hey, i'm being offered if if we leave the united states, can you keep us here with something? those will be under the radar. i think that is fantastic and you know what? yes, we should run the government like a company, but at the same time there are those that need to look out for themselves. and the government needs to be there for them, ultimately, we can't afford $500 hammers and $1,000 for an aspirin anymore. stuart: he looked like the chairman of the board holding a business meeting for the country. liz: how he started was nuanced, i want to cut corporate taxes, that's the carrot, come home. the stick, the 35% border tax.
9:37 am
and even china and taiwan slaps a vat border tax on what we have there. the fear is that the costs will go up. hang on, stay with me one second. what he's saying is the 35% border tax with china i'll slap it on the china, maybe if you back off on your tax with our products, maybe we could bring those taxes down, i'd like to see that sentence in there. stuart: it's the start of a huge negotiation. ashley: the art of the deal. stuart: the art of the deal. one negotiating point. liz: trade and market in here, too. stuart: the market seems to like it. of all the companies represented in the white house, most of them have gone up, the stocks have gone up in the early going and we'll list them on the other side of the screen for you, by the way, the dow industrials turned around. this is not a huge turn around, we're up all of 4 points, but nonetheless, we were down and now we're up. the markets listened to what the president has to say and we're slightly higher. can we deal with some individual stocks which is are
9:38 am
in the news this morning, i'm thinking of mcdonald's, that's a dow stock. mcdonald's came out this morning and said that sales worldwide are up, that sales in the united states are down. they say it's still doing well with all-day breakfast and the stock is reacting to happening with the domestic sales. tesla is in the news this morning, they're going great up. this is a stock that's, what is it, 25% since the election, up by one quarter since the election, up a bit more today. less to $250 per share, up $4 as we speak. let's go to apple. here is the interesting story on apple, a, they've reached $120 a share, b, their partner, their assembly and manufacturing partner, fox conn has announced-- not announced, they say they're moving towards a $7 billion investment in the united states.
9:39 am
manufacture, assemble in the united states, $7 billion. that's apple's manufacturing partner. apple is at $120 per share. who is next? amazon, now at $810 per share, we have a report out showing brooks and mortar retailers are in deep, deep trouble if there is a border tax on apparel, clothing. the result is, that amazon, the on-line king, going up as the bricks and mortar people keep going down. what have i missed. liz: you nailed it. stuart: president trump is going to start talking renegotiate nafta. he's going to meet with canada's trudeau and-- >> jared cushner, his son-in-law is heading-- and. stuart: he's setting up the
9:40 am
meeting with the prime minister. ashley: it's happening, let's get jared cushner to talk about and a half ter. liz: it's talk that canada wanted its own trade deal with the u.s. stuart: it's breaking up. ashley: canada says it shouldn't have a beef with them because it's equal trade. the beef they say is with the united states and mexico. that's developing, but interesting. stuart: now, i want to try to work something out here. we've got enormous amount of news on the economy and on corporate america. it's just one thing after another and it's happening right now. the market is pretty much flat, a 6 points, 4 point. that's it, 4 point gain for the dow. do you want to explain that, scott shellady? >> yeah, right now, sorry, right now, it's just a thought in the cloud. it has to really come down to the numbers and we have to start seeing those things come through and our monthly or daily economic reports. until that happens, we are going to be in a wait and see, but slowly, but surely when you
9:41 am
start to see us move away from $15 an hour and organizing outside of mcdonald's, they talk about fox conn bringing jobs back here, and those will slowly and surely go through the economy. and when the numbers pan out then you see it go. stuart: why is the dow dead flat when you have the action on corporate. >> i think that scott said you've had a run-up since president trump was elected. before the election, the market was basically flat and didn't move at all and then a huge increst since president trump was elected. only optimism that this is going to be a business friendly administration. i think now the rumor is over, now the news is coming and i think it's going to have to happen in some type of systemic fashion. if it does, i think the market is going to move up again. stuart: i want to bring in nicole on the floor of the new york stock exchange. i see a big move, i think it's down by qualcomm, oh, yes, down 11%.
9:42 am
give me the story, nicole. nicole: the story says, qualcomm says that the lawsuit is baseless, but some think must be holding some clout because the stock is down 11%. qualcomm supplies to apple and samsung. in a lawsuit that filed in southern california apple accuses qualcomm for overcharging for the chips and refusing to pay $1 billion in promised rebates and saying they withheld the rebates and this goes forward. despite the fact that qualcomm says it's baseless, the stock is reacting down 11% today. stuart: i remember back in the day late 1990's, the quillnairs of qualcomm, and the stock went up $200 a day? and now a lawsuit. green arrows all around for the health insurers since the election and president trump used his first executive order late friday to ease what's called the regulatory burdens
9:43 am
of obamacare. i believe he's got the mandate. liz: which is striking, remember, we thought, could he do that right out of the box, get rid of the mandate? yes, he's moving and that's a osten ost ost ostentacious, and across state lines. stuart: with obamacare, do you buy them or not buy them? >> look, i own cvs and walgreen's and i think that's the way to play the health trends. i think those stocks will do well. and i think it's what president trump does. and president obama passed that. stuart: .
9:44 am
>> president trump needs to knock it out of the park. stuart: you buy cvs and walgreens, it's pick axes and-- . john, a smart move, let me tell you about that one. president trump signing executive orders the first few days in office. later on today, he's going to sign an executive order that withdraws america from this proposed and onward going tpp, trans-pacific partnership. apparently, we're out of that now. judge andrew napolitano is here on the whole issue of executive orders. he can do it just like that. >> the executive order that we were just talking about with respect to the individual mandate. i have one word to describe it, revolutionary. i have never seen anything like it. it basically says to the department of justice, treasury, and health and human services, the three departments in one way or another administer the affordable care
9:45 am
act. please be advised this will soon no longer be the law, i don't want to to settle fines, or taxes on individuals who didn't comply with the individual mandate. i don't want you to disobey the law, i want you to enforce it while it's still the law, but here is the revolutionary part. when there's a dispute between the individual and individual and the government, you will exercise your discretion in favor of the individual. that statement there is unheard of in american legal history. stuart: therefore, come april 15th of this year when we'll send in our tax returns for the irs. if one of us, any of us, does not have health insurance. >> i doubt that there will be the penalty/tax imposed on that bill. stuart: they're starting it right now with that. >> yes, yes. i tell you the funny part here, donald trump, who has had
9:46 am
notoriously bad relations with the irs. [laughter] is now their boss, not telling them what to do with his taxes, but is telling them what to do with everybody else's. this is delicious icht it's revolutionary. >> it's revolutionary to anticipate that the law will change and direct that tens of thousands of human beings that work for the federal government, to administer the law to anticipate the change, to dial back aggression and severity with which they enforce the law and in areas of discretion to exercise the discretion against the government. against the statute. stuart: it seems like the whole process is galloping forward. mr. trump, president trump i've got to get used to that. president trump is not willing to stand still, he's jumping all over it. >> it is truly, truly
9:47 am
astonishing, revolutionary. >> it's monday morning action day, that's what we've got here. side bar issue, judge, governor greg abbott of texas, we want to see what we've got here. greg abbott of texas has threatened to cut back state funding for one texas county that wants to scale back cooperation with federal immigration. not sure i understand this. >> i can tell you what its. the governor of texas has a fund, which is about $2 billion in size which is tentatively commits today various municipalities and states and gives the money ought and he can impose conditions on the receipt of it. so this one county in texas, the sheriff's budget is about $169 million, and the governor's holding back 1 1/2 million and saying, you want this 1 1/2 million, you start cooperating with the feds in immigration. you don't cooperate with the feds in immigration, you're not going to get the 1 1/2 million.
9:48 am
is it legal in texas? it is legal in texas. most governors don't have that magnitude and can't imposition conditions on the fund. governor abbott does and can. stuart: they are he a stipulations on the money. >> basically saying to a sheriff's department you'll have to tighten your belt. you won't get this money if you don't comply with the federal need for you on suary cities. stuart: and said that-- >> in fairness to governor abbott, he did this before president trump. stuart: i'm referring to the business meetings, laying down the law, new sheriff in town and executive orders. >> who was in that room this morning? he practically said corporate business tax is not going to be above 20%. i know he said 15 during the campaign. today he said 15 to 20. republicans in congress wanted a 20. he basically said plan on it not being above 20. stuart: bank on it. ashley: fabulous. revolution. [laughter] >> what are corporate taxes in
9:49 am
great britain? >> i don't know, i'm an american. [laughter] thank you, judge. check that market. i want a sense of the overall market here, a predominence of losers among the dow 30's the dow industrials are down 3 points. and reaction to president trump's address. we call them the dials and even the democrats gave him a passing grade. you did nt know that, did you? ♪ oh, taking some time off. no, i'm scheduling time to go to the bank to get a mortgage. ugh, you're using a vacation day to go to the bank? i know, right? just go to
9:50 am
get up to five loan offers to compare side by side for free. wow, that's great. wait, how did you get in my kitchen? oh, i followed a raccoon in through your doggie door. [chittering] [gasps] get a better mortgage on your schedule. not the bank's. lendingtree. when banks compete, you win. just think of him as a big cat. [chittering] with rabies.
9:51 am
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
9:52 am
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,
9:53 am
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™. ♪ >> we are going to cutting taxes massively for both the middle class and for companies and that's massively. we're trying to get it down to anywhere from 15 to 20% and it's now 35%, but it's probably more 38% than it is 35,
9:54 am
wouldn't you say? >> it was literally moments ago from the white house, president trump speaking very strongly about cutting taxes. now, how would voters react to that across the board? how would they react? we haven't had a chance yet to put dials on them. lee carter is the lady who runs these dials, but i want to ask your opinion. you know how people generally react to these issues as they come up. how do you think they'll react to that? >> i think that donald trump starting off day one in office on monday at a meeting with business leaders as he promised talking about cutting taxes and bringing jobs back, demonstrates that he's committed to the agenda that he promised the american people and i think it's going to resonate across the board. stuart: now, i'm sure that republicans will be in favor of it. >> absolutely. stuart: your dials also look at democrats. >> that's right. stuart: they have a history knowing how they react. do you think they'll react well to tax cuts for businesses? >> i think they will. democrats-- it's been fascinating. democrats haven't been willing to listen to donald trump at all and since he's been elected
9:55 am
there have been certain things, certain that resonate. one the inaugural address. two being his talking about bringing jobs back so i think that em pooh are willing to give him the benefit of the doubt. unfortunately what happened on the weekend with sean spicer and the press conference talking about crowd size alienated folks. i think what donald trump has to do saying that everything he should be talking about and nothing he shouldn't be. stuart: now, i want to know what voters reaction was to the inaugural address on friday, especially the line where he talked about american carnage. you ran a dial on it and hold on a second. watch the lines. republicans in red, democrats blue, independents yellow. roll tape. >> end the crime, end the gangs, end the drugs that have stolen too many liveand robbed our country of so much unrealized potential. this american carnage stops
9:56 am
right here and stops right now. stuart: okay. the reaction. >> you can see it's actually a very positive reaction among republicans and independents and even the democrats gave this a c. and voters say we want this to stop and want a new day in america and while some say it's a negative, but they say this stops now, i'm giving the country back to you, the american people and it did work across the board. stuart: lee, carter, thank you for being here. >> thank you. stuart: a live look at the white house, a half hour from now, inside the oval office, the president will sign more executive orders. this is clearly action monday. it's trump's first full week as president and we are all over it. and we were surprised over the weekend, you, the varney viewer, came out in defense of hillary clinton. wait until you hear why. hour two, "varney & company" is
9:57 am
about what, three minutes away.
9:58 am
. .
9:59 am
10:00 am
stuart: let's be clear right from the get-go, the media hates donald trump. okay, let me tone that down a little. the media is utterly contemptuous of donald trump. they will dwell anything on anything that is negative. they will invent negatives. they will create as much negative noise as possibility. they will keep a drumbeat of criticism designed to destroy this presidency. do not be distracted. there is real news happening. it is monday morning and mr. trump is off and running. he already held a series of meetings with ceos, talked about making products here, building factories quickly, fewer regulations and cutting taxes for organizations and america's middle class. he chalked up a big success. foxconn partnered with apple, is looking at a $7 billion manufacturing plant in america.
10:01 am
now in 30 minutes he signs more executive orders, starting the process of rolling back obama policies. one of them? he will officially withdraw the u.s. from the tpp. that is the trade partnership. wednesday, meets legislators from around the country. friday he talks with trade, trade with britain's prime minister. early next month it's nafta with canada and mexico. now, step back. if you tune into the establishment media all you will hear about is the dispute about the number of people at the inauguration, or sean spicer laying down the w to the horrified press corps. that is not what we're about. this is action monday, and we're still saying sit back, and watch this dynamic president in action. the second hour of "varney" and company is about to begin. ♪
10:02 am
♪ stuart: "hail to the chief" indeed. this is the start of a new week with a brand new president. executive orders expected this hour. one will deal with drawing us from the tpp, the trade agreement. president trump signing away mr. obama's legacy, or at least part of it today. but first, president trump, he already held a big meeting with top business executives at the white house. this was last hour. listen to this. >> we think we can cut regulations by 75%, maybe more, but by 75%. we are going to be cutting taxes massively for both middle class and for companies, and that's massively. we're trying to get it down to anywhere from 15 to 20%, and it is now 35%, but probably more, 38%, than it is 35, wouldn't you
10:03 am
say? stuart: that is a short list what he had to say. ashley: we talk about corporate tax rates down. cutting regulation by 75%, maybe more he said but then there is a bit of, that's all great if you stay in the united states. if you take advantage of this but then decide to close down, move your operations and make your products overseas, that is when mr. trump made it very clear he will have a border tax, a substantial border tax. now some people say that is not free trade he said but we don't have free trade now. this is fair trade, he says. in other words, you can move around the united states. you have 50 great governors to negotiate with, but things get a little tougher if you move your manufacturing overseas. that was the message for the leaders of the biggest companies in this country. stuart: fascinating. ashley: it really was. stuart: carrot and stick. tammy bruce with us this monday morning, action monday as we're calling it. a, i've never seen anything like this before. b, mr. trump this morning looked like the chairman of the board
10:04 am
running the entire country. >> ash was mentioning with this man is getting done. mr. trump, president trump, is getting done more in his sleep than barack obama was awake during the day. the fact when you look at, imagery, more than that the action, people are used to the obama administration about images, we're seeing liberal line of complaining what that boardroom looked like. apparently there were two many men. we're done with imagery. we're into action. this is what people are going to do, what the washington and president is going to do for the american people. we don't care what people look like. there are certainly women at the table. variety of individuals, great minds thinking of the american people first. that is what donald trump represents. that will have immediate impact on the quality of everyone's lives across the board. stuart: there is one addition here. we have a union statement, is that correct? liz: union leaders that represent factory workers are also meeting with the transition
10:05 am
team and with donald trump. we're talking teamsters, steelworkers, the machinists, even blue-collar work remembers expected to meet with donald trump today. watch this play. remember the union movement was thought to behind the democrats, right? now the progressive left is saying wait a second, now they're talking about jobs, trump is talking about jobs for them. hollow out this fierce voice of resistance democrats thought would mount with union leaders against trump's agenda. stuart: there is a lot more. trade and foreign policy, clearly a focus for the president on this action monday. mr. trump will meet with britain's prime minister theresa may on friday. possibility of a bilateral trade agreement. early next month, early february, he will begin renegotiating nafta with canada and mexico, and he will meet with benjamin netanyahu. lt. colonel allen west, is with
10:06 am
us. allen, we're calling this realignment of trade and foreign policy from the get-go. am i going too far with that, realignment? >> no, you're not going too far with that. good to be with you, stuart. congratulations to my hometown atlanta falcons going to the super bowl. when you look at donald trump and barack obama, barack obama's first phone call the mahmoud abbas, leader of the fattah. first interview with al arabiya. and then he gave another speech of cairo university which set the course. what you see is president focused on as you said trade and foreign policy they both go hand in hand. remember barack obama said to england after the "brexit" vote you will have to get in the back of the line. i don't think what donald trump is looking to do. instead of these large collective trade agreements like nafta, cafta, and tpp, donald trump wants to make sure we have trade agreements country
10:07 am
to country does benefit the american worker so we can get production and manufacturing here. i think another important aspect of trade and foreign policy how we export our energy resources especially oil and natural gas, especially to the countries tied to russia so we have higher ground when it comes to foreign policy. stuart: on friday, president trump, said, i will eradicate radical islamic terror. he will knock it out of the ballpark. can he do that, allen? you're a military guy, can he do that? >> that is a really tough word. words have meaning when it comes to military operations because it is all about the goals and objectives desired end state and effects you want. i would say we want to defeat the global islamic jihad. we want to undermine their ideology. when you look at all the groups out of there to boko haram in nigeria and abu sayyaf in the
10:08 am
philippines and al cade and other cats and sled in between, not that we can eradicate them but we can prevent them from having funding and resources they need to reach their goals and objectives. we have to denial them sanctuary. stuart: allen west, thanks for joining us on action monday, because that is exactly what it is. look at the big board. that is what president trump did. no reaction from the overall stock market. we're down 25 points. 19,800 is the holding. google at the bottom right-hand corner of your screen hit an all-time high. that is why it's on your screen. google otherwise known as alphabet. how about mcdonald's? global sales are up but they are down in the united states. all day breakfast they say is still working. it was launched about a year ago but stock is down a buck 30 at
10:09 am
120-dollars a share. qualcomm sued by apple for a billion dollars. qualcomm is the biggest loser on all stocks on s&p. it is down 12%. we hear president h.w. bush is improving. i like that good news, liz. liz: strong recovery. he was admitted to icu. he will be out of icu soon. he has pneumonia. barbara bush is staying one more night with bronc kite tis. he is 92. she is 91. they have been married 72 ars. stuart: god bless them, 72 years, my goodness me. we have more on president bush's condition coming up in our next hour. got it. get back to the news on foxconn, the company that assembles the iphone, it is the biggest manufacturer and assembler of electronics in the world. they're considering a $7 billion plant in the united states. here is the question we're asking, is that the trump effect?
10:10 am
we also have this for you. chief of staff reince priebus, he says the media is doing all it can to delegitimatize trump's presidency. it is becoming an obsession he says. media watchdog brent bozell on that next. ♪
10:11 am
10:12 am
10:13 am
stuart: truly wicked and dreadful weather in the southeast. what happened? ashley: now we have a total of 19 people believed dead and the search is for more. 14 or 15 of those in south georgia. this is a massive storm system that raked the area last couple day, spinning off tornadoes which you may think is unusual this time of year but it can happen. four people died saturday in mississippi. as i say a couple trailer parks, one in south georgia, looking
10:14 am
for people that may have been affected by the storms. stuart: thank you very much, ashley. now you can call this the amazon effect if you like. auto parts retailers all of them down, 3 or 4%. there are reports that amazon may begin selling auto parts on line. retail ice age for bricks and mortar guys. look at them go down. white house chief of staff reince priebus says the media is out to delegitimatize trump. watch this. >> he is ready to get to work. however the media from day one talking about delegitimatizing the election, talking about the russians, talking about everything you can imagine except the fact we need to move the country forward. >> are you saying there is conspiracy? >> i'm saying there is obsession by the media to delegitimateees this president and we'll not sit around and let it happen. we'll fight back tooth and nail every day, and twice own sunday. stuart: media research center
10:15 am
president, his name is brent bozell, and he's with us on this action monday. i don't want to look back at sean spicer. i want to look forward. seems to me there is a new and radically different relationship between the white house and the press going forward, am i right? >> we have never seen anything like this. this is an administration -- i agree completely with mr. priebus on this one. this is an administration that is not the going to put up with a quote, unquote, news media that are hell bent in destroying it. the news media are more radically concern with the destruction of donald trump than is nancy pelosi, than is senator schummer, believe it or not. these are radicalized people and what the trump administration is saying, not only are they not going to put up with it, but they don't have to put up with it. that is the problem with the old media. they are becoming increasingly
10:16 am
irrelevant. donald trump knows that because of social media. he has the upper hand on this one. stuart: but the establishment media can do a lot of damage to donald trump because for the average person, you get up, watch tv, read the newspaper, get your facebook feed and it ifhais repeated constantly, damage can still be done, can it not? >> sure it can, sure it can, stuart, but you know the old rules were, and i've had countless conversations with republican candidates and officials over the years, the old rules if the media hit you once, don't you dare respond because they will hit you twice as hard the second time. i have always counseled them, no you respond. if they hit you unfairly you respond. what donald trump is saying is if you hit me unfairly i will knock your teeth out, that is what he has been doing. stuart: you are proof of that? you watch the media. do you approve of this? i think you do. >> you know, i do. i think the old media need to be put in their place. enough of this.
10:17 am
they are trying to, they tried to destroy his campaign before he won. when he won, they tried to deit before, during the transition. and now that he is the president they're trying to destroy it, and they're doing it internationally, not just in this country. understand this. this is international. that whole thing that took place over the weekend, that was a soros effort internationally. and what donald trump is doing, is standing up to these people. he peeling the onion layer by layer. the public is seeing it. stuart: is that a fact that george soros is financing global, i'm not going to call it conspiracy a global effort to discredit and delegitimatize donald trump? this is george soros in action, is it? >> there is no question. this is a man who has put up billions into the electoral process but he is funding the most radical organization, which are anti-trump. therefore, george soros is funding anti-trump de, trying to
10:18 am
destroy him. stuart: smile, brent, i know you're having fun. we'll tell every one he is good man and he is with us this monday morning. see you, brent. thank you. total change of subject watch this. more than 150 piglets. liz: there they are. stuart: sound effects from tammy bruce. rescued from a fire in siberia. rescue workers passed the pigs from one to another. they were rescued. brought you that from siberia. how about this? a woman kicked off a plane for berating a trump supporter. the incident was caught on camera. we'll show you all of this. you will catch it all. this is action monday from donald trump. he promised you massive reductions in regulations and more executive orders, here they come. more "varney" in a moment. ♪
10:19 am
10:20 am
10:21 am
10:22 am
stuart: yes. now if you read the, look at media, you would think that the far left is increasingly important and increasingly popular. please, ladies and gentlemen, think again. i've got a poll just out from wbur, mass ink did this poll, shows senator elizabeth warren is not popular in massachusetts. 44% of those polled say she deserves to be reelected but 46% want somebody else. what does that tell you? >> this is extraordinary. certainly about elizabeth warren to a larger sense, massachusetts rejecting their liberal lion, if you will, it is a sign, this
10:23 am
revolution is continuing, that this is a rejection of what the democrats thought was going to be their bulwark, their leadership, and massachusetts is saying no, as a matter of fact, also the same poll found that republican governor there is more popular than this senator warren. it is a remarkable transition, when it comes to the attitude. liz: this would be one term. she was in office in 2013. she is up for re-election next year. joe kennedy iii i could go for the seat or businessman rick green, a republican. stuart: don't want to get ahead of ourselves. liz: that is next year. stuart: at this point all the publicity the far left has gotten, we find in massachusetts not that popular. liz: approval ratings are down. >> she was supposed to be the alternative hillary, why isn't she running? all of that apparently is now failed. stuart: now we'll follow that with this. because the two are related here, two stories.
10:24 am
a woman removed from a plane for heckling a trump supporter. roll tape. >> i would like for him to change seats with someone -- >> i'm going to get somebody -- well you -- >> don't pretend the you have the moral high ground but you put that man's finger on the nuclear button. that man doesn't believe in climate change. do you believe in gravity? >> my husband lost his mother. >> sorry for that but does not give the you right to -- stuart: there is a lady on a plane. she is heckling, being nasty to a trump supporter. she leaves. there is more to this story. fill out the rest of it. >> real lead, a lot of video, she was being very aggressive, but she was removed from the plane. when she was removed the plane applauded, a flight from baltimore to seattle, leaving the big event, the women's event, the plane applauded her removal. marshals had to come on to get her off. ashley: started chanting usa.
10:25 am
>> chanting usa. democrats came down, suddenly whole aisle came down and sat down next to him. we're sorry what we feel or what we think. stuart: wait a second, this plan from baltimore going to seattle? >> taking all the liberals from the march. the plane applauded her removal. another sign on the ground things are not as ashley judd and madonna think they are. stuart: not how the establishment media. ashley: people forget respect. >> exactly. stuart: we're having fun. however, i got to tell you, my team the packers, lost. it was a big weekend for football. the atlanta falcons beat the green bay packers, just really beat them, 44-20 one. some are calling it a blowout victory. the last football game that will be played in the georgia dome, by the way. the falcons will play the patriot in the super bowl. sunday, february 5th.
10:26 am
fox will broadcast the super bowl this year. happening right now, as of right now, president trump signing more executive orders at the white house. we'll show you when it happens, it is about to happen, i'll tell you that. action monday. we're all over it. ♪ at angie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. [ toilet flushes ]
10:27 am
so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list.
10:28 am
10:29 am
♪ stuart: coming to america. is that about me? i hope so. in that building, the white house right now, the
10:30 am
executive orders are about to be signed, more of them. republican from new york, comes from chris collins is with us. congressman -- >> what a great day in washington it is, stuart. stuart: sorry. i didn't realize you were going to say that. yes it is, it is action monday. i know you can not tell us specifically what executive orders the president is about to sign, i understand that, but in general terms, what kind of orders are going to be signed now? >> these are the orders that will help move our economy forward, getting us back to 4% gdp growth. we saw it with the executive order relative to all the taxes, fees and penalties associated with obamacare. he gave his agencies the ability to waive those on friday. i'm sure what we're dealing with is energy and energy independence and all the noense the obama administration had on the war on coal. we know today he met with business leaders and said that
10:31 am
under his administration we can see 75% fewer regulations that are getting into every nuance of their business. that will again spur job growth. stuart, all about growing the economy, growing jobs. putting america back where we should be on the economic front. i would expect those are the type of executive orders you will see come out today. stuart: i want to go back to the executive order, one in particular he signed on friday, that you don't have to enforce the obamacare mandate. can you explain that? seems to us that means if you were going to be fined for not having health care, you're not going to be fined, is that accurate. >> i think, stuart, it is safe to say he neutered all of those things. that includes the medical device tax. it includes the health insurance tax. i would interpret it, it even includes the 3.8% surcharge on unearned income.
10:32 am
and think of all employers cut workers back from 39 hours, just below 40, down to 27 or 2because of employee mandate. these employees had to get a second job to make ends meet. way i interpret it, any health insurance provider, any medical device-maker, anyone subject to fees, taxes penalties they can be waived and deferred until perhaps congress moves. to me we can get the folks back to working 39 hours instead of 26. all of sudden companies don't have to worry about these penalties. medical device-makers, health insurance companies, with one stroke of the pen he really put this economy back on overdrive and answered a lot of the concerns that we have. stuart: we're dipping back, congressman, we're astonished at the level of activity. that is a fact. one more for me, if i may, you're the gatekeeper for the new jobs in the administration.
10:33 am
one of the new jobs going to rex tillerson at exxon, going to be secretary of state. do you think, is he going to be nfirmed eier today or tomorrow? is he going to get that job? >> yeah, i think when we heard lindsey graham and jon mccain come out -- john mccain came out for support. lindsey graham and john mccain are supporting him, stuart, i think we're on a very good glide path to his nomination. stuart: congressman, i will jump in. we received a facebook post from senator rubio says he will vote in favor of rex tillerson. congressman, thanks very much. >> there you go. stuart: ashley with more details. ashley: exactly that. despite my reservations marco rubio said i will support mr. tillerson in the full committee and senate. he gave rex tillerson a hard
10:34 am
time. stuart: let's advance this, rex tillerson will be next secretary of state. lindsey graham and john mccain they're all in support. there is no opposition from the democrats, that is he in. new secretary of state. not a done deal. that is coming down the pipe. this is happening. check the big board. we have all this action on jobs and the economy but investors are selling stocks this morning. we're down 75 points, 19,752 is where we are. look at the big-name tech stocks, facebook, amazon, microsoft, alphabet, netflix, all of them are up except microsoft, the one i own. apple manufacturing's partner, i should say, apple manufacturing partner, that is foxconn, is going to build, they say, they're thinking about a $7 billion plant in the united states. 30,000 jobs. cheryl casone making a welcome return on camera on set with us this morning. >> good morning. stuart: you say, wait a minute, you say a $7 billion plant in
10:35 am
the united states, making technology stuff for the american market, how do you say that is, maybe bad news for consumers? >> can you tell me it will be the same amount of money to make a panel display for a television in the united states as cost you to make the same panel display in china? weused to cheap televisions. we're a consumption economy in this country. to bring 30,000 of these manufacturing jobs into this country is going to raise prices. and if that comes to the table, with donald trump in the negotiating process with foxconn, next thing you know it will be tax breaks, it will be free land, you bring thatbillion dollars but billions more in breakses to a company like foxconn. stuart: well, everybody is going to the got break of lower corporate tax rates. mr. trump said this morning, everybody gets the break of much, much less regulation. >> not if you're a company that is also, if there is a trade relationship -- think about china, think how much he went
10:36 am
after china on the, on the presidential, in the debates, in the campaign, that relationship overall with china, foxconn by the way already said they're supposed to build an $8 billion plant in china. now we find out today they will build a $7 billion plant in the united states. you're going to tell me that is really going to go through? i think there is a bigger story than what we're reporting. stuart: okay, cheryl casone, if you're going to chuck cold water on -- >> i want to see jobs here. i want to see manufacturing jobs here but the devil is in the details. and this is the chinese. let's not forget that. stuart: pulling us up short here, you're enthusiastic but you make a good point. we'll see these things through. next case, mr. trump meets on friday with the prime minister of great britain, theresa may. in february he begins renegotiating nafta with canada and mexico. he will also meet with israel's
10:37 am
leader benjamin netanyahu. governor mike huckabee is with us now. ♪ the animation there. now i can see the governor. okay. i say, this is a realignment, not just of trade but also of foreign policy what say you? >> it is a realignment, not only of trade but realignment of power, i think donald trump understands america can best be in a position to influence the world when it's strong. when it's weak, when it comes across as weak we really don't have much influence because no one takes us very seriously. i think his message is exactly spot-on. he makes it clear we'll not be the janitorial cleanup crew for the world we'll not be the policeman but we'll be a strong country. we'll defend our interests. we'll not nation-build other places. we'll nation build america as example of for other nations. that is who we've been. that is who we will be.
10:38 am
stuart: are you shocked that the message was delivered in stark fashion and following through on it with stark action? >> not at all. i think the message was delivered in a way that the average american can understand it. he didn't go in there trying to speak to the academics. he didn't go out there on the inauguration stump try to make it so all the people on the platform would feel warm and giddy of though don't need to feel warm and giddy. they need to feel scolded. they need to feel ashamed what they have done to this country and workers and wages. i think what he said was appropriate. i'm glad he was that bold. if it made people on the stage uncomfortable, good. they needed to feel as uncomfortable as a lot of americans have been feeling over the past not just eight years, but the past 40 years as their wages have disappeared. stuart: here comes some action on sanctuary cities. governor, i sure you heard of this, in texas, governor greg be a bolt is cutting off funding
10:39 am
okay, to one county. he will deny funding if the county continues support for sanctuary city policy this is a crack in the sanctuary city argument, is it not? >> it is not only a crack but i think an absolute earthquake in it. god bless the governor of texas for having the courage to say if you don't follow the law, we're not going to keep giving you money. isn't that the way it is supposed to work? i'm appalled the travis county sheriff decided she will ignore law. she says only people they will deare people who committed capitol murder. this is the opposite of what change new york city when bill bratton and rudy giuliani came in. they took the broken window strategy said if you take care of small things it will have impact on the big things. this is the reversal saying we're not going to take care of any small, medium or even pretty big things. only very biggest things. you will get a lot more big things when you start acting that way. i'm just grateful to greg
10:40 am
abbott, the governor of texas. smart move on his part. stuart: what an extraordinary start to the first full week of president trump. governor huckabee, thanks for joining us. always appreciate it, sir. thank you. all right. what's next? i'll tell you. bikers for trump. they were at the inauguration. promised to set up a wall of meat against the protesters. we'll get a full report how it all went down in a moment. thise so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade.
10:41 am
10:42 am
♪ ashley: millions march in protest around the country on saturday against president trump. fox news contributor david webb was there. he had to say this about it last hour. >> you've got the left over hippies. tree huggers were out in full force. then you've got a much younger contingent who are ill informed which is really dangerous because they will carry it on into the next generation. it's about money. it's about control. i can tell you that emily's list, all those signs, those orange signs, yellow signs you saw printed, professional ones all had emily's list. what was emily's list created? to get democrats and hillary clinton elected to the white house. this is a big money event for a voting bloc together for the democrats. ♪
10:43 am
10:44 am
stuart: a study from citigroup says retailers would suffer mightily if president trump implements a border tax. ashley. ashley: well you know a lot of their garments and what have you made across the border. this study shows kohl's profits in 2017 alone, if you had a border tax of 22.5%, their profits would drop 68% this year. lulu lemm moan, down 37%.
10:45 am
on top of that retailers are already fighting each other in a very competitive price game, and then they're fighting against online retail that's continue to pro. so you have those two things. you throw in a border tax on goods being made overseas, it's a retail ice age getting very, very cold. liz: ashley's point, walmart, amazon, macy's, they have a lot of leverage over their suppliers. the smaller guys don't have that much powerful leverage. stuart: that is true. there is difference between a border tax imposed as punishment for sending jobs overseas and there is a border adjustment tax part of corporate tax reform. ashley: the bottom line, they believe the apparel industry stuck in no-man's land as it stands with trump's policy but a significant portion of their profit cost hit very hard by border tax. liz: unless they raise prices. stuart: if this happens, that happens. ashley: you're right, exactly.
10:46 am
stuart: the bottom line to me is, don't be a bricks and mortar retailer at this moment in time. it is tough going. ashley: without a border tax, it is already worst. stuart: protesters threaten to shut doesn't inauguration. that was the threat last week. but the bikers for trump who flooded into d.c., they promised a to counter them with as they said, a wall of meat. chris cox, head of bikers for trump, he is back with us on camera this morning. wait a second, chris, where were you when these guys were trashing those stores and breaking windows up and down washington? where were you? didn't you have a confrontation? >> well, stuart, certainly we couldn't be everywhere at one time but we had many clashes of our own. we served many knuckle sandwiches. a couple of nose rings knock the out of protesters. stuart: i got to stop it. it did get violent. your guys were involved. you confronted your opponents
10:47 am
and fists flew, that is accurate? >> yes, sir, by all means. we had one protester spit on a biker. went to wave at him, forgot to use all but one of his fingers, you know which one i'm talking about. the biker gave him a knuckle sandwich. dislodge ad nose ring and massaged his face with his knuckles after that. the police witnesses it. they walked up. they believe the biker had reason to believe the protester was there to do harm to him. told the biker to have a nice day. on saturday, at our event, we had a burke get out of line and push, protester pushed a ber and he too was pushed down. then later was punched in the face several times. and, then they, protesters went to cut the power to our generator. our band was temporarily put out of order. we had to get our singer, harry frye, crown jewel of the biker community, we had to get him to safety. then we came back and continued to run our program.
10:48 am
none of this would have been possible without of help of keith schiller, one of donald trump's 18 years long chief of security, helped pull this together. all of our members donated to the gofundme page made it possible. more importantly, donald trump created a a brand new demographic, a sustainability, one a sweet spot for republican party to come. we're a quarter of a million members. soon we hope to be up to half a million members. stuart: any of your guys arrested? >> no. we have never had a biker arrested at any of our events. and, those are just two of the five encounters that we had with protesters. and, you know, there were a lot of entrances that were blocked off. a lot of guys couldn't get to us. we had guys scattered all over the area. there certainly were a lot of disruptions that we weren't aware of, we couldn't get to. but we did our best.
10:49 am
and you know, with a little bit of resources we have, we had guys come in from all over the country. we represented donald trump with the only pro-trump issued from the park service, there were 90 issued. if that tells you anything, bikers had wherewithal to be there, be organized and be permitted. stuart: chris cox, thanks so much for joining us. the knuckle sandwich story was very, very interesting. we appreciate that. >> we have video of that. i would be more than happy to send it to you, stuart. stuart: we'll see if we can get that on. chris cox, thank you very much indeed. >> thank you, stuart. stuart: all right. look at this, that's a popular beer company, right sierra nevada. they have a recall in progress, 36 states. the issue? a packaging problem that could cause glass to break off inside of the bottle. not good at all. recall it. first this from washington state. a police officer's body camera capturing the ment when he pulled a woman from a burning
10:50 am
car, breaking the window with his baton. then he reaches in, pulls the woman to safety. watch that. that is from an officer's body cam. he got her out. he did it. not bad, there you go. something that has never happened before on our facebook page. it is all because of this picture of hillary at the inauguration. find out what "varney & company" viewers are saying. here's hint. you would be surprised. ♪
10:51 am
10:52 am
10:53 am
10:54 am
[shouting] stuart: hillary clinton attended president trump's inauguration. now we posted a video of that on our facebook page although we didn't criticize pillory in the post, some viewers said we should leave her alone. here is couple incoming quotes. from mark, first of all, time to leave hillary alone. she showed up what had to be a difficult day. can't say that for the other 68 democrats that equipmented it
10:55 am
all together. from gail. she showed more class in past few hours than the last 50 years. no safe place or coloring books or puppies. i'm not fan of hillary clinton but she did the right thing. i admire her for it. linda said i'm last person to pay her a compliment. drop her from the news until the legal system announces her fate. ouch. from pearl, come on, leave her a loan. i'm not a hillary fan i give her tons of credit for showing up. that took a lot of fortitude to walk in there. i felt sorry for her. she looked very nice. give it up, people, this election is over, move on. personally i admire her for showing up the way she did. she did exactly the right thing. ashley: she showed up as bill clinton's wife, if she didn't she would have looked really, really bad. i don't think she wanted to be there but held her head high. i am not interested in hillary clinton.
10:56 am
i don't want to see her ground down, but it cast classy to show up. liz: she showed up as democrat nominee that lost and showed class and elegance. she tweeted about it. i'm here to today to honor our demook sy, enduring values. i will never stop believing in our country and future. she will show up, not like the 69 democrats that did not show up. you show up and fight. ashley: you couldn't help feel sorry for her what is going through her mind. stuart: a woman who spent her entire life chasing one goal, denied at last minute, that is a tough place to be. she handled it with class. got that wee will move on and be back in a moment.
10:57 am
10:58 am
10:59 am
stuart: welcome, everyone. you are tuning in to action monday. the first full week of the new presidency began very early this morning, around dawn. the first trump tweet of the
11:00 am
day. busy week planned with a heavy focus on jobs and national security. that's for sure. he's already finished his meeting with business executives in which he pledged to cut taxes and cut regulation, keep jobs here. he's already chalked up a success. fox con, biggest electron arics manufacturer and assembler in the world talking about a $7 billion plant in america, 30,000 jobs. he's already signed executive orders, one of them opens up nafta renegotiation. another dealt with the obamacare mandate and one that officially withdraws the u.s. from the trans-pacific partnership, another withdrawal from a trade deal already signed. top-level meetings are coming with britain's prime minister friday, israel's leader early next month, canada's prime minister, mexico's president, they're talking trade. the media doesn't think this is news. ey're still in a huff about
11:01 am
the new sheriff in town or the size of the inauguration. hey, they are still spewing their contempt. it won't change. but what is changing is presidential policy. under trump it's all about growth and jobs, and he's on it already, and that's what we are concentrating on. the third hour of "varney & company" is about to begin. ♪ ♪ ♪ let's get it started, let's get it started in here ♪ stuart: good one. [laughter] president trump getting started right out of the gate on this, his first full day, weekday i guess you could say -- he's always working, of course. this morning he laid out his plans for a number of things from taxes to manufacturing jobs. roll that tape, please. >> we're going to start making our products again. there'll be advantages to
11:02 am
companies that do, indeed, make their products here. what we're doing is we are going to be cutting taxes massively for both the middle class and for companies. but we're trying to get it down to anywhere from 15-20%, and it's now 35%. i have teem tell me they have -- people tell me they have more people working on regulations than they have doing products. and it's gotten out of control. if somebody wants to put up a factory, it's going to be expedited. you have to go through the process, but it's going to be expedited, and we're going to take care of the environment. stuart: well, he's certainly covered a lot of ground, and we will deal with all of those items throughout this hour. steve moore will join us in about 15 minutes. now, take a look at the markets. we are down today, we're down 52 -- i'm sorry, we're down 59, nearly 60 points as we speak. the price of oil barely budging,
11:03 am
still around $52 per barrel. come on in, please, keith fitzgerald from money map please, he's the chief investment strategist there. you're a big invest -- no, you're big into investor confidence. what have you seen in e last w days? >> wel investor confidence, by and large, is still there. i think the rotation you're seeing this morning is a lot of people saying, hmm, what do we make of tpp, of nafta? i think it's institutional hundred that's trying to realign because you're going to see the last vestige of the status quo if trump continues the momentum he's on. stuart: well, he's certainly got momentum as of this morning. you've heard what he's been saying to business leaders, he's meeting with union leaders. he's setting a cracking pace for getting jobs back to america and growing the economy. i take it -- obviously, you approve of that, but when are investors going to start approving and moving this market higher? the things he's talking about are not instant fixes.
11:04 am
there's nothing wrong with that, but it usually takes a quarter, sometimes two quarters to turn some of these big corporations around because they've got to realign thousands of pages of taxes, thousands of pages of legal stuff in order to get to the bottom line. now, again, that's gonna happen. i believe firmly that's going to happen. it's long overdue. we have had 50 years of failed policy, so i'm very excited to see the logjam break. stuart: keith, i'm sure you heard the news that fox con, building and assembling iphones, they're talking about a $7 billion plant coming to the united states of america. now, would you chalk that up as a victory for donald trump and the pressure that he's applying? >> i think it's a victory right now. i think it remains to be seen whether there's going to be tax credits, what kind of things are going to go along with it. it's carrot and stick, very much. but again, this is a corporation that is moving in the right direction because president trump has made it very clear what he wants to accomplish.
11:05 am
stuart: are you in favor of this? now, some people say, look, he's just bullying these executives. he's really bullying, that's the expression that they're using. are you in favor of it? >> well, you know, i don't think bullying is the right characteristickic. i think what he's doing is calling them on the carpet and saying, hey, for yours you guys have -- for years you guys have had a free ride, and now it's time to put up or shut up. i think he's calling them. uart: you ever seen anything like this before, keith? >> not in my memory. i think if you look to the twaid wars of the '20s and '30s, there's precedent with regards to what's happening with our currencies, but that too had a good ending because companies that did get in line did very well, and that's what i'm looking for this time. stuart: okay, we shall see. keith, thank you for joining us, always a pleasure. throughout the day i've been calling it action monday. president trump has already met with business leaders, he's already signed executive orders. joining us now is a.b. stoddard,
11:06 am
real clear politics associate editor and columnist. a.b., this guy is off and running and setting a cracking pace. he's looking forward. he's not looking backwards at the march or the press kerfuffle or the inauguration speech. he's looking forward. are you? >> i think donald trump is shrewd to get off of the events this weekend which were really a disastrous start and on to things that will deliver on the promises he made in the campaign for his supporters. i think action on tpp today will headache them very happy -- make them very happy, looking to renegotiate nafta with the leaders this canada and mexico will further that enthusiasm. and as you've been talking about on your show, looking at repealing regulations and looking at keeping jobs here at home. a lot of the businesses that he's been striking these so-called deals with had either made those plans in advance or they were on the horizon.
11:07 am
but, but i think the atmosphere, stuart, that he's creating before there is tax reform, before this is codified in statute and before it becomes a new law creating a new environment for corporations, it is sending the message that before he calls you, you might as well rethink your job scenario here at home. stuart: the energy level, i mean, applying himself full scale to changing the jobs market, changing manufacturing in america, i don't think i've ever seen anything like this before, have you? >> no. i think you often see a prenettic flurry in the first -- frenetic flurry in the first hundred days, first hundred hours of a new presidency. barack obama famously, in his exuberance, said on, you know, hour 36, i think, that he was going to close guantanamo bay. it never happened. there are ways -- this is a very critical time the create momentum and then try to maintain it. it's a really critical window, and donald trump needs to take
11:08 am
advantage of it. and it looks like he is to try to keep a pace going and to keep the pressure under congress. a lot of executive orders, stuart, actually are not so substantive. he can do big ones like scrap the iran deal, but many of them are actually regulations that will need to be overturned by congress. he needs to keep the fire under their bellies, and he needs to keep this pace going, so he's off to a good, frenzied start. stuart: i hate to throw this at you, a.b., but i've got this poll from a reputable organization in the massachusetts. i don't know -- you're smiling, you may have seen this. >> i have not. [laughter] stuart: well, i'll throw it at you. nearly half the people polled in massachusetts want somebody else to run for elizabeth warren's senate seat in 2018. that was a surprise to me. i thought the far left was getting her and more popular. -- more and more popular. what do you make of this? >> i think the democrats are stabbing around, stuart, trying to figure out why they lost, who
11:09 am
they are and how to go forward. largely it was, as you and i have discussed, hillary clinton was a disastrous candidate. they supported her nomination despite all her flaws, and they ended up with a devastating loss. they're looking around at who's going to lead the party. it can't be bernie sanders and elizabeth warren. they're too old. she's a scold, i think she's a terrible candidate for national office and and to sort of be the face of the party, so it's not surprising to me that sort of younger progressives are looking around and saying we need new blood, and elizabeth warren can't be the face of the democratic party. stuart: it's just absolutely fascinating, isn't it? i mean, it's a privilege to sit here and watch history unfold. and you're with us, a.b.. thank you very much for joining. we'll see you again soon. >> thank you, or stuart. stuart: all right. we have an update on the condition -- no, what you're looking at now, senators cassidy and collins, holding a press nference. they're introducing an obamacare replacement plan.
11:10 am
it is called the patient freedom act. we'll bring you any developments. this is one of several plans that are being put forward to replace obamacare. we're on it. we have an update on the condition of president bush, bush 41, that is. we're told he's been moved out of the icu, and barbara bush has been discharged as well. so there's some very, very good news from the bushs right there. how about mcdonald's? sales up globally, down in the united states. that's why the stock is retreating 1.50. it is a dow stock, remember. president trump says he wants to start talks to renegotiate nafta. mr. trump says it's a bad deal for america. he also says he's going to cut taxes massively for both the middle class and for corporations. steve moore is next. he is mr. trump's economic adviser. he'll be with us in a moment. ♪ ♪
11:11 am
11:12 am
11:13 am
11:14 am
>> there's a big debate, stuart, about whether to do the business tax cut first to really get some juice in the ecomy and then deal with individualaxes in my opinion, that would be the wise way to go. stuart: that was economic adviser steve moore discussing trump's tax plan on our program about, what, about a week and a half ago. okay? now listen to what president trump said moments ago, this day, while meeting with business leaders. watch this. >> we are going to be cutting taxes massively for both the middle class and for companies, and that's massively. we're trying to get it down to anywhere from 15-20%, and it's
11:15 am
now 35%, but it's probably more 38% than it is 35, wouldn't you say? stuart: wouldn't you say? come on in, steve moore, trump economic adviser. all right. to me -- >> by the way, stuart, you know what that clip means, you know what that tells us? that donald trump is watching stuart varney in the morning, and he's taking our advice. [laughter] because i think this is the big push. stuart: yep. >> this is the new emphasis to do the -- just as i said on your show, what was that, a week ago, you know? do the business tax cut first. there's a lot less opposition on the democrat side of the aisle of doing that. and then you do the big push push for, you know, the major tax reforms later. and don't be surprised if that's the tactic that donald trump takes in the next week or two. stuart: the important thing is that within the next, what, three months we're going to find out what is in that corporate tax reform plan, and we understand that it's going to be back dated to january the 1st. so relatively quickly corporations will know exactly
11:16 am
what the tax rate's going to be, they'll know about full expensing in the first year, and they will then be able to base their spending almost immediately on what they know is coming down the pike. i think that's very important. >> i couldn't agree more, and, you know, i've made this point to trump, if we do this, it should be if not january 1st from the date of the announcement of the bill which is sometime, you know, in the next couple of weeks. but here's the problem, and i'm going to, you know, talk about some land mines ahead that i think are holding back that market. by the way, what happened to dow 20,000? i think one of the things happened is that investors are getting a little nervous about whether donaldrump is going to put this on the front -- stuart: okay. hold on a second, i've got business leaders leaving that meeting with president trump earlier. dow chemical ceo, listen in, please. >> that we've heard on the campaign trail and we just heard it today if you bring jobs across the border and products back in, there's going to be a heavy tax. one, do you take him at his word for that?
11:17 am
do you believe that could be a possibility? and then, two, on the corporate tax side today he seemed to move the goalpost a little bit from 15 to 20. is that an environment that you would still be happy with? >> well, i can't speak for every company around us other than we did talk about the border tax quite a bit, and we did talk about the sorts of industries that might be helped or hurt by that. look, i would take the president at his word here. he's not going to do anything to harm competitiveness. he's going to actually make us all more competitive. recognizing there's a transition here in terms of you can't get things done overnight. maybe, mark fields, you would like to add some comments? did mark disappear on me? the auto industry, in particular. [inaudible conversations] >> thank you. >> mark fields, ford motor company. i think, you know, walking out of the meeting today i know i come out with a lot of confidence that the president is very, very serious on making sure that the united states' economy is going to be strong and they have policies, tax,
11:18 am
regulatory or trade to drive that. and i think that encourages all of us as ceos as we make decisions going forward. so it was a very, very positive meeting. and i think a very positive meeting for the united states of america and manufacturing in general. >> it is striking -- [inaudible conversations] >> thank you. >> any suggestions on the number of jobs that might -- stuart: that was a group of very senior executives from some major corporations leaving the white house after they'd held this meeting with president trump. steve moore, come back in again, please. those executives, i think, were referring to the care9 ott here -- carrot here. this is what mr. trump is offering. muchless regulation, he'll cut it by 75%, he says, much lower taxes. that's the carrot to entice executives to keep jobs here. it sounds like it's going to work, right? >> remember what i said on your show six months ago, stuart, remember? 2% to 4% growth. if you do those two things, if you cut those regulations by
11:19 am
half and if you get that business tax rate down to 15-20%, you just jump-start the economy in a major way. but i want to go back if i could, stuart, i think it's an important point, what i was saying before. there is some unease in the business community, among investors about whether donald trump was going to get this done. there was a lot of talk in the last few weeks maybe we'll address the tax bill in september or late summer, i think that's a mistake. i think he's got to jump out of the gates right away and get this done. and then i think you see the stock market respond in a very positive way once there's an assurance that this is going to get done. stuart: but there is widespread agreement, i think, that there will be a corporate tax reform -- >> i think so. stuart: -- plan. >> yes. but, stuart, here's the thing, what the congressional republicans have been saying is maybe we'll do obamacare first and then the budget and then the supreme court nominations, and there is talk about stalling this until late summer or maybe even late in the year. and if that happens, you might
11:20 am
not get this tng enacted, you know, until late in the year, and i think that's one of the reasons there's some anxiety among the investor class. trump should make a statement right away we're going to get this done right away. why can't they do in this the first hundred days, stuart? stuart: because they're bound up with obamacare. >> yeah, well, that's a problem. that's a problem -- stuart: they haven't changed the schedule. it's still obamacare first, tax cuts second, isn't it? they've not changed that. >> i don't understand, stuart, frankly, why can't they walk and chew gum at the same time? why can't they do these both at the same time? i want the president to say, look, we're going to have a jobs program. he should announce this in his state of the union, and i'm going to get this through congress and the first hundred days. this should be a very, very high priority. if you want growth, you've got to get the tax bill up. ronald reagan signed his tax bill by the mid summer of his first year in office. i want trump to beat that.
11:21 am
i want him to do it, sign this into law in the spring. my goodness, stuart, barack obama passed his $800 billion stimulus bill in the first weeks in office. i don't understand why this is taking so long. stuart: because if you start to roll back obamacare, you've got to replace it very, very quickly -- >> that's true. stuart: -- if not immediately. so you don't have room for a corporate and an individual tax cut -- >> i disagree. i dis-- stuart: really? >> sorry, stuart, i very rarely disagree with you, but do both things and don't let obamacare -- because it's turning into, republicans are getting a little tripped up on obamacare. don't allow that to intrude on the urgency of getting this business tax cut through. i mean, i feel very strongly about that. if we get this done in the next few months, you're going to see the biggest stock market explosion you ever saw. stuart: so that's what we're waiting for -- >> yes. stuart: right now the market's down a little bit despite all the activity on that front. well, keep pushing.
11:22 am
>> i will.stuart, don't go wobbly on me, all right? [laughter] stuart: me? moi? [laughter] steve is referring to that group of conservatives in england who backed away from margaret thatcher in the 1980s. they were wobbling. >> he's quoting margaret thatcher. >> that's right, exactly. [laughter] stuart: okay. >> just for this historical accuracy here, this is what margaret thatcher said to george bush, don't go wobbly on me. [laughter] stuart: and i think he did, actually. all right, steve, we'll see you again real soon. >> great to be with you. stuart: now, change of subject. gun stocks. look at 'em. we used to call president obama the greatest gun salesman on the planet, and he certainly was. but now president trump, big support for the second amendment, might be a different story. >> whole new ball game, as they say. look, the last 18 months have seen record gun sales, but now
11:23 am
the fears of restrictions on federal gun rights are fading away, at least that's what we believe under president trump. the firearms market in general has been very, very slow, and they're concerned. they don't know -- now they have to go back to another world where they have to focus on niche groups and what have you as opposed to just mass buying of guns. it's a transition period -- stuart: look at gun stocks since the election. second amendment guy gets in, and down go the gun stocks. >> fbi background checks just for the month of december plummeting year-over-year 16%, and smith & wesson now calling itself american outdoor brands. they ought to rebrand the outdoors, you know, activityings. stuart: let me go back to the extraordinary activity we saw earlier today when business leaders swarmed into the white house for a high profile meeting with president trump. now, he promised to scale back, i mean, huge scaling back of regulations. listen to this.
11:24 am
>> we're going to be cutting regulation massively. now, we're going to have regulation, and it'll be just as strong and just as good and just as protective of the people as the regulation we have right now. the problem with the regulation we have right now is that you can't do anything. you can't -- i have people that tell me they have more people working on regulations than they have doing product. and it's out of control. stuart: now, didn't he say, lizzie, he was going to cut back regulations 75%? >> let's look at it from his perspective. he's a real estate developer. he knows what it means when you have local bureaucrats stopping projects with out of the blue permitting rules, i mean, and it's frustrating. and he said it's about factories. he cited an anecdote about one factory guy who wanted to build a factory, he was stopped. it was put on ice. donald trump has traveled these states where he's seen cities hollowed out, cities a annihilated, the rust belt extending and growing, and
11:25 am
that's why wisconsin and michigan flipped and went for trump. he's talking about bringing that back. >> but he also said he would protect the environment. he's not going to jeopardize the safety of people. stuart: okay. >> we hear him -- stuart: because i though the critics are going to be saying -- >> let's see how he delivers on that. stuart: check those manufacturing stocks, please. president trump throwing in -- vowing to bring back jobs to america. stay with us, but listen to this first. >> we want to start making our products again. we don't want to bring them in, we want to make them here. if somebody wants to put up a factory, it's going to be expedited. we want to bring manufacturing back to our country. at angie's list, we believe
11:26 am
there are certain things you can count on, like a tired dog is a good dog. ♪ [ whimpers ] ♪
11:27 am
so when you need a dog walker or a handyman, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. because your home is where our heart is.
11:28 am
11:29 am
♪ ♪ >> washington flourished, but the people did not share in its wealth. politicians process mored, but the jobs -- prospered, but the jobs left and the factories closed. their triumphs have not been your triumphs. that all changes starting right here and right now, because this moment is your moment, it belongs to you. stuart: well, you heard it. the inauguration speech. mr. trump, president trump now, he wants to put the power back
11:30 am
in the hands of the people. doug schoen is with us, former clinton pollster. he has written recently that was, mr. trump's speech, was a unifying speech. wait a minute, wait a minute. you're a democrat. i thought that was supposed to be from the democrats' point of view the most divisive speech in history. >> stuart, i will repeat what i've said many times. particularly on inauguration day and thereafter, we are all americans. we're not partisans. i don't lead my life praying to a democratic god or republican god. [laughter] i see myself as an american who is committed to the greater good. donald trump was campaigning -- and i think campaigning is the right word -- for unity of the people against the political class. right now i say we need to bring the political class, the political leaders, both parties together to implement his vision. stuart: yeah. democrats were all saying almost entirely the democrat party was
11:31 am
saying that was divisive, it was dark, he was taking a grim view of america. we want no part of it. that's what st democrats said. >> thas not athis democrat says. i say that it reflects accurately the world view of an electorate, democrat, republican and independent. now we have to actualize it with a legislative solution, tax reform, infrastructure -- stuart: your party's not listening. >> stuart, i don't think you're hearing that i'm suggesting we have to rise -- [laughter] above the partisanship to solve problems. stuart: i know what you're saying, but i don't hear that from any other democrat. >> don't you think it's right, reasonable and responsible? stuart: yes, i -- >> that's good, thank you! i appreciate the endorsement. stuart: so where's the rest of your party? >> they're m.i.a., you're trying to get me to attack them, and i'll tell you, they're wrong. [laughter] i think if -- we are governed by marcheses, protests -- marches, protests and attacks, or you know who loses? the united states of america. you know who wins?
11:32 am
vladimir putin. stuart: no -- >> yes! stuart: you know who loses? democrats. you know who wins? trump. >> stuart, believe it or not, despite your accent, we live in a bigger world than just america. and that bigger world is at risk because of a lack of american leadership. and if we can't pull together as one nation, one people, trust me, we all lose. stuart: so why on earth do we have these huge marches all across the country, 68 or was it 69 democrats refused to attend even the inauguration? that doesn't seem to me like everybody's pulling together. >> no, it isn't, which is why i'm coming on this show and entreating all people of goodwill, whatever party, to get together. we've done that in this country, it's what this country is about. and you know it, you came here, and you've profited from it. stuart: you are using this show to make a clarion call to the left to pull together -- >> no, to all americans. i haven't spoken about the left. i've spoken about all of us. i continue to say that. this is a broad --
11:33 am
stuart: address the left, because they're the divisive ones. >> okay, i'll address the left. stuart: go. >> there are some aspects of the trump agenda you and be, hopefully, will agree with. others, you can't. but good graciou we've got to rebuild our roads, our bridges, we've got to bring back corporate venue that's overseas and is not being put to work. and unless we do it as one nation, one people, we will all lose. stuart: i think you should drag your party back to the middle ground, and you could win again. >> and i would welcome the chance to do it with you on a bipartisan basis. [laughter] stuart: doug, you're all right. >> well, thank you, stuart. stuart: you're all right. a fine american. >> i'd like to think so. stuart thanks very much, doug, appreciate it. [laughter] all right, reports -- [laughter] >> it was great. stuart: he was good. >> terrific. stuart: he's an honest man. totally wrong about politics, but he's an honest man -- >> no, i'm not. i'm a centrist who believes in coalition, sort of a torrey webb. stuart: there are no centrists left in the democrat party -- >> which is the problem, which
11:34 am
is why i'm on this show preaching and begging for people to see the light. stuart: okay, i've got it. stop interrupting my introduction of you -- [laughter] we hear, this is the introduction to the aforementioned laughing guy right here -- [laughter] president trump is getting close to nominating a supreme court justice. napolitano is here. very close, i believe. could be days away. >> i believe it is, it is close. he originally said he wanted to name the person before he was inaugurated. he said last week he wanted to name that person within two weeks of inauguration. i wouldn't be surprised if he releases that name very soon, as soon as this week or very early next week. now, in full disclosure, you know that i have been privileged -- stuart: yes. >> -- to confer with him on this. but i don't know who the nominee will be, i don't even know who's on the short list. stuart: now, when the nominee is
11:35 am
named, how long before there are hearings for his or her confirmation? >> pretty soon, probably within a month. it will take about a month to to gather all the information, to do an fbi background check, get all that in the hands of the senate judiciary committee, give them time to examine it. stuart: it takes 60 votes in the senate to approve sueme court nominee as the rules stand no >> yes. stuart: correct? >> when chris wallace was interrogating senator mcconnell yesterday, chris is so smart and so shrewd, he said are you going to pull the nuclear option, meaning get rid of the filibuster. he looked at chris and said the nominee will be confirmed. well, is the nominee going to be confirmed with 51 or 60 votes? chris, the nominee will be confirmed. so i don't know what they're going to do, but the president absolutely will want all the stakes pulled out to prevent the has of this first nominee, whoever it is. stuart: but it is an astonishingly rapid chain of
11:36 am
events going on here with changes in tax law, regulations, obamacare -- the pace is extraordinary. >> it is, it is. we talked earlier about the executive orders he's signed. he's signing more today. but we haven't had a president enter office with a vacancy that pre-existed his presidency in the modern era. stuart: judge, we always think of you as our point man on the investigation of hillary clinton for her e-mail scandal. we understand that congressman jason chafe feds, who heads a committee, is pursuing it still. is that accurate? >> it is accurate that he said he is pursuing it. it is also accurate that mrs. clinton and her husband, former president bill clinton, are still being investigated by the fbi under two investigations. is the clinton foundation a lawful charity, or is it a slush fund, is it a means just to enrich them? and the other is did mrs. clinton engage in any acts of public corruption when she was secretary of state. did she make decisions as
11:37 am
secretary of state intending to benefit the foundation, not intending to benefit the national security of the united states. stuart: that's still ongoing -- >> these are two investigations still ongoing, yes. don't be surprised if the be e-mail investigation comes back because of the recent fbi revelations that, in fact, mr. blumenthal -- who received confidential materials from mrs. clinton -- was hacked by the russians, the chinese and our friends, the israelis. stuart: i'm glad you're on top of it, and update us when you can, please. >> of course. stuart: president trump says he will bringack manufacturing jobs, he'll bring them bachere in america. roll tape. >> we want to start making our products again. we don't want to bring them in, we want to headache them here -- make them here. when somebody wants to put up a factory, it's going to be expedited. and you have to go through the process, but it's going to be expedited, and we're going to take care of the environment, we're going to take care of safety and all of the other things we have to take care of, but you're going to get such
11:38 am
great service. stuart: i gotta pick up on that, cheryl casone, the idea of expediting the permitting process is music to my ears. >> it is. well, probably not to the regulators' ears. what caught my attention this morning, he is in the middle of a room with a bunch of american ceos. they're trying to avoid the stick that donald trump is potentially going to hit them with. but then moments later he goes on to say this. listen to what else he said. >> foxconn is going to spend a tremendous amount of money on building a massive plant and probably more than one. so that's what we want. we want people, we want to start making our products again. >> you're going to offer, you're going to lower the corporate tax rate for american business, right? what is the incentive to somebody like foxconn, to a japanese company like soft bank to spend $50 billion in the u.s.? stuart: i'll tell you -- >> go ahead. stuart: a growing u.s. economy. if you cut taxes and regulations, you grow the economy. people want to produce here inside that growing economy.
11:39 am
>> i think there's another story here. i think that he's trying to get apple in particular. foxconn is a little stick that he is waving to bring apple back into the united states. that's the big money. that's where you get the major run on the u.s. economy. if you can get apple back here, you have a u.s. economy. foxconn, not so much. soft bank, and, remember, these are promises these foreign ceos are making, but they've already backed off just a little bit and said, well, of course, it would depend on the environment. that is all the breaks that foxconn's going to be expecting, as will soft bank, there there, you guessed it, the american taxpayer and the states where these plants may or may not be built. stuart: okay, we shall see. eryl, thank you very much, indeed. sidebar event here, look at the auto parts retailers. they're all of them down bigtime. look at that, 2, 3, 4% down. why? there are reports that amazon may begin selling auto parts, okay?
11:40 am
you could call that bricks and mortar retail ice age, i guess. how about google/alphabet? they hit an all-time high earlier. they're still up, 833 is the price. they got an upgrade from an investment bank. 833, google, as in alphabet. the super bowl lineup is set. the atlanta falcons beat green bay 44-21, big surprise there.en bay would win, including myself. the patriots beat the steelers 36-17, so there you have it, it will be the patriots and the falcons in the super bowl february 5th, it will be on fox, okay? i'll watch it all the way through. >> who you rooting for? stuart: who am i rooting for? not going to say. [laughter] >> they'll lose. you have a terrible track record. [laughter] stuart: yeah, don't jinx it. why do we have netanyahu and president trump on the screen there? because he will speak to president netanyahu this afternoon on the phone. now, president trump also
11:41 am
invited him to washington early in february. rabbi marvin hayer, one of the rabbis who attended the inauguration, is with us in a moment. >> bless all of our allies around the world who share our beliefs. by the rivers of babylon, we wept as we remembered zion. if i forget thee, o jerusalem, may my right hand forget its skill.
11:42 am
11:43 am
♪ >> i'm nicole petallides with your fox business brief. the dow down about 70 points right now, back into the red for 2016 as we are seeing markets under pressure, a weak u.s. dollar hovering around six week lows. the s&p 500 down 11 right now, and the majority of names on the dow jones industrial average do have red arrows. general electric had a couple of price target cuts, mcdonald's came out with sales, a little bit of weakness in the united states despite some demand for their all-day breakfast. exxon and merck also under pressure. yahoo! is now being investigated by the sec, questioning whether or not yahoo! violated laws by delaying the disclosure of their data breaches. key look at the airlines, oil is pulling back, but we are watching the airlines after a technical glitch for united yesterday. all those stocks are down about 2. and kate spade jumping about 3% as we see the interest reemerge
11:44 am
from coach and michael kors.
11:45 am
♪ ♪ >> yes. -- eternal god, bless president donald j. trump and america, our great nation. guide us to remember the words of the psalmist who hay dwell on -- may dwell on your holy mountain, one who does what is
11:46 am
right and speaks the truth, who knows that when you eat the labor of your hands, you are praiseworthy; that he who sows in tears shall reap in joy. stuart: and that was rabbi marvin hayer, he's the first orthodox rabbi to speak at a presidential inauguration, and the rabbi joins us right now. rabbi, welcome to the program, sir, it's a pleasure to have you with us. >> it's a pleasure to be here. stuart: why are you the first orthodox rabbi to speak at an inauguration, sir? >> i have no idea why -- [laughter] stuart: well, my question is, why have we not had an or the docks rabbi -- orthodox rabbi before? could it be that conservative and orthodox jews tend to be more conservative and in favor of mr. trump whereas reformed jews are very much in favor of democrats and president obama? >> that's possible, but i should
11:47 am
point out i don't think there was -- the last rabbi participated in the inauguration ceremony was, on ronald reagan in 1985. so this was, whether you're conservative or reform, there was no rabbi participating in any of the inaugurations of the clinton administration or the obama administration. stuart: well, welcome back, rabbi. it's good to have you back at the inauguration. good stuff. now, president trump is going to speak with israel's leader, benjamin netanyahu, on the phone this afternoon, going to speak about 1:30 eastern time, we understand. and mr. netanyahu has been invited to come to washington in february of this year. is this the complete realignment of america's relationship with israel? >> it is. and let he point out -- let me point out, the united states, if you look at the middle east, what other country could the united states rely on that is a democracy in the fullest
11:48 am
standard than the state of israel? so i think president trump is doing the right thing. he's realigning, he's saying, you know what? israel is a primary, great friend of the united states, and i want to make sure that the first move that i make to have a conversation with the prime minister of israel. stuart: why is it that 68% of american jews voted for hillary clinton? and before that, it was always above 70% the jewish vote went with democrats. why is that? >> well, i think that goes back to the roosevelt administration during the depression. i know my parents were mocrs. they believed at that time that fdr rescued them from the depression, and this became sort of cultivated. but i think today you have many, many jews around the country that are republicans. and so i would say that the odds
11:49 am
are, you know, it's still 70%. but nonetheless, a significant segment of the orthodox community voted for donald trump. stuart: yes, and we understand. rabbi, thank you very much for joining us, sir. it's a pleasure to have you with us, thank you. okay. >> thank you. stuart: moments ago president trump signing more executive orders. what did he sign? >> here we go. he signed an executive order to formally withdraw the united states from the trans-pacific partnership trade deal. he's also signed an executive order on federal hiring freeze. already. stuart: whoa, that's news. that is news. >> yep. stuart: a freeze on federal hiring. >> which he had promised to do. stuart: yes, he has. he's also suggested that he would cut spending -- >> yep. stuart: -- he would cut staffing level, and now he's got an executive order, no more hiring. >> all before noon on monday, first full day in office. [laughter]
11:50 am
stuart: it's a cracking pace, if i may say so. >> it really is. stuart: disney out with a title for the next "star wars" movie, star warts episode -- "star wars" episode eight will be called "the last jedi." no impact on the stock. you saw news on the aetna/humana merger, i believe it's off, liz? >> yeah, a federal judge just blocked it. it was a $37 billion merger. the two companies said, yes, we will keep pricing low. federal judge disagreed, and the argument was medicare advantage costs would go up because aetna dominates medicare advantage, so the judge sided with that and said the merger is off for now. stuart: what a mess in the health care -- >> big mess. >> it really is. stuart: yes, president trump, we are calling him the chairman of the board. first week in office and he is making deals. we'll tell you all about it. he's setting quite a pace. back in a moment.
11:51 am
11:52 am
stuart: okay. i'm breaking into that commercial break there because moments from now we're going to see president trump -- i have to get used to saying president trump, not president -- he's the president of the united states of america. moments ago he signed a series of executive orders. we're going to get tape of him actually doing that. look at here, some of his commentary over the top. i can tell you now, i can tell you exactly what two of those executive orders. number one, we are going -- america is going to withdraw from the tpp, the trans-pacific partnership. that was a global trade deal -- >> yep. stuart: -- certainly a pacific arena trade deal. we are formally withdrawing from that. secondly, and you brought us this -- >> yes. a federal hiring freeze. >> watch what he could do next. this is what he could do, he could suspend immigration from terror-prone region, he could do
11:53 am
that by executive order, he could also overturn protections for illegal immigrants, cially criminal illegal iming grants. stuart: okay, he could do all of that. >> the next step would be national security-related executive actions. stuart: this is important because the president is taking action that takes effect right now. and this is -- >> he said he would. >> right. stuart: the first day of the first full week that he's in office. >> right. stuart: and he's done an enormous amount of things. he's already held a meeting with top executives, and their stocks have moved. he's promised tax cuts, he's promised deregulation, he's cutting red tape by -- >> threatened the border tax. stuart: -- threatened the border tax, and now executive orders? roll that tape. here we go. [background sounds]
11:54 am
>> all right. we're going to sign three memorandums right now. the first one is withdrawal from the -- of the united states from the transpacific partnership. >> everyone knows what that means, right? we've been talking about this for a long time. thank you. [background sounds] okay. great thing for the more than worker -- for the american worker, what we just did. >> next, a federal government employee hiring freeze. >> except for the military. >> except for the military. >> except for the military.
11:55 am
>> next is the policy on regard to mexico city. that's it. >> thank you, press. >> thank you very much. >> mr. president, reaction to the lawsuit today? [inaudible conversations] >> without merit. totally without merit. >> thank you, appreciate it. >> thank you. >> thank you. >> thank you. stuart: okay. liz, the third executive order that he signed, i'm not sure what it's about, but you've dug into it. >> yeah. it has to do with abortion. it's basically the rule that says that -- it's about funding
11:56 am
women's health related to abortion. stuart: okay. so we're not funding -- >> correct. stuart: -- some aspects of abortion. >> correct. >> that's accurate. stuart: a little obscure. does it apply to -- >> cuts off funding for national groups that perform abortions. stuart: okay. it cuts off funding to international groups which perform abortions. >> correct. that's why it's called mexico city -- stuart: we're not paying. got it. what we just saw, ladies and gentlemen, was president trump sitting in the oval office signing three executive orders. reince priebus is right there, vice president pence is right there. i think i saw peter navarro off on the right-hand side there, economic adviser. he's standing in the room. and those three executive orders were as follows: we have withdrawn from the tpp, that's the trans-pacific -- >> partnership. stuart: -- partnership, thank you very much, ash. it's a trade agreement, we're out of it. secondly, a hiring freeze on federal workers with the exception of -- >> the military.
11:57 am
stuart: so they don't count. >> because he's talked about the military needs to be rebuilt, so that's why they're exempted. stuart: okay. item number three, america will no longer support and fund international groups which perform abortions overseas. >> this is basically defunding international planned parenthood federation. stuart: okay. this comes on top of a series -- i'm going to call it action monday. it started at dawn this morning when president trump made his first tweet of the day -- [laughter] in which he said, look, we're starting prompt, early this morning, meeting with business, meeting with -- >> yep, let's get to work. stuart: and we're trying to bring jobs back to america. at 9:00 this morning, that meeting was held. we counted enis ten senior executives -- we counted ten senior executives in the room, and president trump said, look, we are going to cut tax rates dramatically, and we're going to cut red tape dramatically. later, he's going to meet with
11:58 am
union leaders -- i think that is later -- >> and blue collar workers. stuart: and blue collar workers. >> that's the report, yeah. stuart: and later on he's going to meet with the speaker of the house, paul ryan -- >> yep. stuart: -- getting the legislative schedule in order. and now he's just signed those three executive orders. that's an extraordinary amount of business being conducted by, we're going to call him the chairman of the board. looks like the man is running the country from the oval office -- >> certainly is. stuart: every aspect of our daily lives is being affected. i've never seen anything like it before. >> no, i haven't either. and i dare say i don't think anybody who's ever been on yourn or democrat could say that of either a republican or democrat incoming president who's been so active on their first day in office. stuart: it's just an extraordinary thing, the reach of the man and the energy. i've never seen anything like it. >> be well, i never saw anything like it on the campaign trail, no one else had, and he's taken that into the oval office. it's remarkable. stuart: and as far as we're
11:59 am
concerned, the events of the weekend and the inauguration on friday are a thing of the past. this dispute about crowd size, the nastiness of some of the celebrities at the women's march and this fight between the media and president trump, that's all in the past. he has just rewritten the headlines. i wonder if the media -- >> listen, i'm for free speech, i don't mind the march. i support women marching for what they believe in. i'm fine with that. but what's happening now is he's taking action, and what could he do next? again, it could be national security executive actions. that's what we got -- he could actually deport on his own illegal criminal immigrants. stuart: well, we are going to get mike pompeo confirmed -- >> yes. stuart: -- as cia director. that's probably coming today. and very quickly thereafter rex tillerson will be confirmed as secretary of state. >> he will. stuart: you've got an extraordinary amount of action already. the man was only confirmed as the president --
12:00 pm
>> friday. stuart: friday at 12 noon. i might add the market has sold off, not that much, but we're down 75 points. maybe there's some concern about a trade war because we've withdrawn from these trade agreements. but nonetheless, an extraordinary degree of action. the market down 70. neil, it's yours. neil: all right, stuart, thank you very, very much. we are following market reaction to all of this. as stuart just told you here, the president signing three executive orders in rapid-fire just minutes ago, in the follows on top of the three he already signed on friday. but here's what this is all about. targeting trade deals, he says that aren't benefiting american workers including the trans-pacific pipbe partnership deal. he went on to say that that was a great thing for the american worker, this order, he said, to essentially take us out of it. the executive order itself doesn't necessarily formally take us out of it, it just freezes any more progress on those trade talks. the goal of the president is to get us out of this, something he


info Stream Only

Uploaded by TV Archive on