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tv   Varney Company  FOX Business  December 1, 2023 9:00am-10:00am EST

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place -- [inaudible] and granger, the ratings taking into with account hiring, pay and work culture. cheryl, all those things are important to employees. >> of course they are. these are large multi-nationals. unfortunately, it came from harvard. if i had a kid at harvard right now, i'd be furious. all they're doing is teaching anti-semitism at harvard, but anyway -- maria: ooh. joe, what do you say? >> pepsi fans across the nation will be -- maria: pepsi's a great company. i think cheryl makes the right point, a lot of people are thinking about these protests going on. real quick, rebecca. >> i agree. let's get less anti-semitism in academia right now, please. thank you. maria: all right. "varney & company" picks it up now. stu, take it away. stuart: good morning, everyone. a fascinating debate. desantis versus newsom, red state versus blue state. in my book, desantis won both on the performance of his state
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and on style. newsom got so many things wrong and came across as a handsome if actor. now, that's just my opinion. in a moment you'll see the highlights. more on politics. trump is running away with the race for the republican nomination. a new harris poll shows he has 68% support. desantis way behind at 9%, haley at 7. the iowa caucuses are january the 15th, and trump has a huge lead in that state. to the markets, and we're coming off the best month for stocks this year. and on this december 1st, no major selloff at this point. premarket we've got the dow down, what, 20-odd points, nasdaq down 54. look at bitcoin. that is holding on to its recent rally, and it's going to $38,000 and change this morning, 38,377. if not bad. interest rates little changed, the 10-year treasury yielding 4.34%. the 2-year coming in, where is it now? 4.69%. it's going up a little bit. okay.
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no change for gas, $3.p 24. that's crude oil. we got that. $76 per barrel. move on to gasoline, no change at $3.24 for regular. but look at a this, 11 is states are now below $3 a gallon. as for diesel, you're down one cent at $4.21 is. in the news today, fighting resumes in gaza. the truce ended. most troubling, we're hearing dreadful stories about the treatment of hamas hostages. children branded and drugged, female hostages caged. how anyone can support hamas is beyond me. on the hoe today, the u.n. say -- the show today, the u.n. says the world is miles away from meeting climate goals. separately, there's a petition circulating that demands an end to all natural gas production. a sure sign the inmates now run the asylum. and the cyber truck appears in austin, texas. the price? around $61,000. friday, december 1st, 2023, six days to the first might of
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hanukkah, 24 days to christmas. "varney & company" is about to begin. ♪ ♪ ♪ stuart: all fired up by petra. i like the idea of getting all fired up on a friday before a wonderful weekend. now, we're going to get started this morning with highlights from last night's debate between governors desantis and newsom. roll some tape, please, go ahead. >> so i was talking to a fella who had made the move california to florida, and he was telling me that florida's much better governed, safer, better budget, lower taxes, all this stuff, and he's really happy with the quality of life. and then he pausedded and said, oh, by the way, i'm gavin newsom if's father-in-law. >> you're trolling folks and trying to find migrants to play
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political games so you can outtrump trump, and and by the way, how's that going for you, ron? you're down 411 is points in your -- 41 points in your own home state. >> that's why he's running a shadow campaign -- >> i will take joe biden at 100 versus ron desantis at any age. [laughter] stuart: last night had its fair share of jabs and personal attacks. one big question for me is whether it helped or hurt governor desantis with his bid for the white house. well, to sort it all out, pete hegseth joins us this morning. all right, pete, who do you think won? >> good morning. i think desantis won on the substance, obviously, the policies in florida, because with gavin newsom was able to troll -- remember the alternative facts dust-up? he had his alternative facts. sean laid out the reality, he would say nothing to see here, we have more people coming to california, gas prices are lower here, our taxes -- there's no proof on the -- poop on the sidewalk. he just made up his own reality.
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but he's a really comfortable and skilled politician. you just can't watch that and not say he's formidable. stuart he looks good on tv. >> he plays to the cameras, you're right. he's an actor who plays a liberal politician who's affable in the way he conducts himself. so if you're an uninformed voter and you watched that, you come out with your open opinions. but he was right about one thing, desantis is not going to be the nominee. he's been a great governor of florida, and i think he stood up for florida and what he did there correctly last night. but a 68 approval rating -- 68% approval rating, that's unheard of heading, what, just weeks into iowa? if went desantis said neither of us are going to be the nominee, he was correct. we'll see what happens in the future. stuart i've got to turn very serious for the moment because we've got news out of the mideast. as you know, pete, smoke is once again rising from gaza. the ceasefire is over. more troubling, in my mind, hamas is accused -- israel
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accuses hamas of branding and drugging their child hostages and putting female captives in cages. how on earth can anyone even offer a modicum of support for hamas after this? >> well, because they've been undock try nate. they've been given an ultimate form of history. they don't know about a islamists. for our generation that hasp spent two decades over multiple deployments in the middle east, we know what us lappists believe, what they want to do, what their ideology makes them capable of. and that antibiotic's exactly -- branding of kids, that's isis, that's al-qaeda. that's exactly who they are. we know that enemy. and so with this ceasefire, the temporary pause done, netanyahu's been very clear. it is the absolute eradication and destruction of hamas, which is what israel must do considering that threat on their border. stuart: i think they're going to pursue the leaders of hamas who organized the initial october 7th incident, brew brutality. >> they should go to qatar too,
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by the way. stuart: they're going to kill them. >> as they absolutely should, because that's what hamas would do given their capabilities, and that's what a iran wants. stuart sorry, i'm going to go back to where i started from and pick up on trump. former cnn host chris cuomo, he's been notorious for trump bark. well, he's changed his mind, apparently, as if you care, but he's changed his tune. listen to this, roll it. >> i am always open. and i'll tell you this, people say [bleep] you never voted for a republican in your life. wrong. and not only have i, the first vote i ever cast was for a republican. i don't think there's any greater risk to america with him than with biden. stuart: no greater -- can well, i can't get through the entire sentence, but you know what i'm saying here. democrats are turning around --? >> that's an egomaniac looking for relevance right there. i mean, it just is. saying something a little interesting to be relevant in
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the conversation. but anyone with a brain recognizes that given the opportunity setting aside the hyperbole and the mischaracterization of trump, that's obvious. look at this country the way it was running under trump versus the way it's running now and the world looks right now. it's the easiest choice on the planet. they're going to talk about abortion and how trump is hitler. that's their campaign. and if you're smart enough to see through that, the choice is clear i don't know if cuomo is, but he's smart enough to find a camera. stuart can't get around the fact that everything that's going. wrong or is under biden. you can't get around that. pete hegseth, you're all right. thank you very much for joining us. >> you got it. stuart: now we're going to talk money. we'll talk bitcoin later -- >> i'll be out of here for that. [laughter] stuart: check futures, a little bit of downside action, but it was such a great november, that's hardly a sale off -- sell off of december the 1st. kenny kenny poll -- kenny polcari, is thisally for real?
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>> it was for sure. you can't argue that it wasn't real, it was very much real, but i do think we're at the top. 4600 on the s&p feels like -- well, it is certainly a top. we've attempted to pierce it just a couple weeks ago, we traded up to 4587 as we got close, and we background off, right? -- we background off. there's plenty of resistance, is so i think the best is done for the year. i think we pull back a little bit. we turn around and end somewhere in here, 4500, 4550 is probably where we're going to end, but there's always next year which i'm still bullish on. i think it's going to be a very interesting year for the markets. stuart: do you think there's going to be rate cuts in march next year? >> i do not, and it's beyond me that this rate cut is going to happen in four months from now, right? so this rally we saw in november is really built upon that idea that the the rate cut cuts are coming. jay powell has made it it very cheer that the door is open, can and he's still not confirmed or sure that the hike cycle has
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ended. we've got six other fed members that think the rate hiking cycle has not ended, yet the market is stamping their feet say, no, no, no, we need lower rates. we don't. the market can function with 5% rates, and you and i both know that over time and history 249 -- in the markets. stuart: well, if this rally is kind of over for the year and the fed is not going to lower rates next year, are we in for a big selloff? >> well, we're in for an adjust. , right? i don't think it's going to be a big selloff -- stuart: you're bursting your bubble. >> i'd love to see a big selloff, because aye like to jump in at much better prices. i do think we're going to see the market pull back a little bit, and that's okay. stuart: 5% on the 1-year treasury, there's something wrong with that? >> i don't think so. stuart: i'm out of that. >> oh, are you? there's a lot of people who are a little concerned over what's going to happen, so they're happy to put extra cash into a 1-year treasury and get 5%.
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if they're concerned next year's a presidential election year, a lot can happen. stuart: are you telling your clients to pull back? sell? >> absolutely not. as a long-term asset is management and investor, it's about being in the market, not timing the market. we don't whip 'em in and whip 'em out. we're not day trade ors. we build portfolios and let them work. stuart: okay. you're here for the hour. >> i am. stuart: okay. you're a glutton for punishment. i always use that expression. coming up, senator marco rubio did not back down to anti-israel protesters who tried to confront him. watch this. >> senator rubio with, will you call for -- >> no, i will not. on the contrary -- are you filming it? if i i want them the destroy every element of hamas they can get their hands on, and i hope you guys post that. stuart: way to go, senator. i love that. we'll get more of that. a new national poll has trump leading desantis by 59 points. he looks up stoppable. karl rove is going to be
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breaking down the numbers for us. he's brought his white board. caution, he is not a trump guy. we'll be back. ♪ ♪ keep on believing, don't give in. ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab.
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stuart: can't get around the
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we give veterans access to support from anywhere in the world. ♪ i'm leaving, never to come back again. ♪ found somebody who does it better than he can ♪ stuart: okay. the producers are playing this song because we're about to hear a story about a leaving california. you're looking right now,
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oakland, california. it's still dark out there. and then we have governor gavin newsom, now, he was asked about the mass exodus from california at last night's debate, you know with, leaving. kelly o'grady's with me. what was his response, kelly? >> reporter: well, stuart, he deflected and, ultimately, didn't give an answer even when pressed. it was a major point of emphasis for governor ron desantis. take a listen. >> i think california has more natural advantages than any state in the country. you almost have to try to mess california up. you know, that's what gavin newsom has done since he's been governor. he's the first governor to have lose population. >> reporter: and, stuart, the numbers are clear. over 700,000 left california between july of 2019 to july of 2022. during that same period, over a million moved to florida. there was also a moment when governor newsom claimed more florida residents have moved california than the reverse, but we haven't been able to find evidence of that. and when you fact check it,
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close to 5,000 californian with, 22,000 more than those who headed west. and that's why we find me on the iconic melrose ave. today. you look around at buzzes, because of the covid -- businesses, because of the covid policies, that's why you see the bra fitty behind me. the debate also focused on taxes. governor newsom pushed back on that last night. he said that california doesn't have the highest tax rate and, in fact, when you talk about working people, he claimed that people in florida pay more than the state of california. and, stuart, or when you fact check that, the average worker in california is being taxed, it's $9,000 versus $5,000, florida. stuart, by far the funniest moment was when governor ron desantis highlighted that gavin newsom if's own father-in-law left california for florida. stuart: yeah, that was a very good line, a winning line, i
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would say. kelly, thank you very much, indeed. now, let's get back to the polling. interesting. it shows trump widening his lead in the republican primary. the poll puts him 59 points ahead of send place desantis. and look who's here now, karl rove is with me. let's face it, karl, trump looks unstoppable. >> well, first of all, difference between the national polls and the early polls. and one thing is if you're that far ahead, lower the expectations. and he's not lowering the expectations. think about it. in the iowa poll he's at 43. in new hampshire he's at 42. so if you're 59 points ahead in the national polls, that's because everybody knows who you are and you're the former president. but better to look like you're running hard and not taking anything for granted in order to keep that up. stuart: doesn't he have a big lead in iowa and new hampshire? and no one has ever overcome or lost in a lead like that? >> well, one guy came close,
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walter mondale in 1984. in the 50s and 60s in the national polling, 49% in iowa, second place finish in iowa surprised 'em, gary hart with 6%. eight days later, gary heartbeats him. the contest takes until june 5th of 1984, to settle, and it gets settled when on the final day of the primaries, hart wins california, south dakota, new mexico. among the 27 contests he won, walter mondale was new jersey and west virginia and succeeds at clinching the nomination with 21 is delegates to spare. stuart: so you think there's still time for desantis or haley to overcome the deficit? >> look, the parties were stronger back then, they're weaker today. yes. is it a long shot? if absolutely. but if you're the front-runner, focus on two things, lowering people's expectations. saying, you know? i don't really even believe the polls. i'm ahead, but i'm running hard to the end. and then focus on uniting the party rather than calling your
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opponents bird brain and sanctimonious and fat boy. that's a little unusual approach to the election. stuart that is true. look at this op-ed heedline9 from the if new york post. i'll quote it for you. joe biden's obvious mental struggles makes it almost cruel to allow a '24 run. that's spelling it out, isn't it? >> yeah. well, and it is. it's sort of elder abuse in a way, political elder abuse. he's in the up to it, and three-quarters of the people in polling say that including 7 out of every 10 democrats. and a majority of americans think he lacks the mental a acuity and stamina to be president. stuart: how do you get him out? >> him, his wife or his sister, he is the one democrat who could lose in the general election to donald trump. the democrats, if they nominate any one of the big bench of successful governors and other officials, would have a competitive chance in a general election. but against biden, think about it. i mean, 3 out of every 4
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american say he's too old? he ain't gonna get younger. and when two-thirds of the american people say he doesn't have the mental acuity and stamina to do the job is, that is a problem. stuart: isn't it time for senior democrats to have a quiet word and say, mr. president -- >> yes, absolutely. stuart: just like they did with nixon in the '70s. >> look, people had the discussion with lyndon johnson in march of 1968. but the problem is that the parties are weaker. and this really does come down to joe biden, jill biden and his val truely biden owen make a decision. and for the sake of the country and the sake of his party, he ought to make a different decision than he now seems to be making. stuart: time's running out. karl, always a pleasure. see you later. nick -- nikki haley just released a new campaign ad. roll tape. >> a president must have moral clarity and know the difference between good and evil. today china, russia and iran are
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advancing. stuart: she also says it's time to leave behind the chaos and drama of the past. kenny polcari, that's a shot at trump. >> exactly. but i think she's right. i have to tell you, i think she's absolutely right. i think there's a large part of the country that's tiring of the drama. and to karl's point, the name calling and the way that trump does it, i think the country's tiring. so i do think there's a shot at nikki haley could be that dark horse in the race that nobody's been giving a fair amount of attention to. stuart: you going to dismiss that out of hand? >> no. i've been through this with iowa and new hampshire. we're now in the critical moments. the last 40 some odd days in iowa they take their time making the decision, and when they finally lock in -- think about it, president trump at 43%, 29 of the 43 say my mind is made up, but 14 of the 43 say i'm considering somebody else. stuart: you know, you should have brought your white board. [laughter] >> they're expensive, and i are to pay for them myself. >> oh, my -- you know what trump
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will never do? he'll never try to bring down the expectations. so to your point, he won't do that. therefore, that's going to, i think, be his undoing. stuart: thank you, gentlemen. check out futures, please. it's friday morning coming off a terrific november. just a miles per hour selling spree on wall street -- minor selling spree on wall street. a little red ink, let's put it like that. the opening bell is next, and we'll take you there. ♪ ♪ (adventurous music) ♪ ♪
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as a thank you and a reminder that you support those who serve please call or go online to helpdav.org right now. your support says thank you to our nation's disabled american veterans stuart: the futures show a little bit of red ink. the nasdaq down 50, the s&p down 10, dow down 22. points. as usual on a friday morning, mark mahaney joins us. mark, i have to give it to you, you had a great november. are you sticking with amazon as your big pick for december? >> well, we've had a great 2023 for large cap tech stocks. the magnificent seven really worked, and amazon's worked phenomenally well. the question is what happens going into next year, and you began this year with multiples that were so trashed because of '22, and for good reasons in the spike in interest rates. and now the setup is less constructionive going into next year -- constructive with a few
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exceptions, and i think amazon can still go up a fair amount. you've got a compounder in terms of the earnings growth, free cash flow growth so, yeah, amazon's still our number one pick in the space. and the key catalyst, the key unlock from here, what's the next step? this aws, amazon web services, cloud computing segment. i think that growth can accelerate or going into next year. we're only doing about 12% now. by sometime next year, i think we're going to be closing in, clicking along at 20% revenue growth. if i'm right on that because of e generative a.i. workloads, because they moved beyond what's called cloud on themyization, if i'm wriepg right, this stock going materially higher. stuart: you also picked uber, and i followed your pick, actually. i was buying in the low 40s, and you're now in the mid 50s. where's uber going from here? >> i think it still goes higher, we have a $75 price target. we think it can trade at 25 times free cash flow on 2025 numbers, so that kind of gets you to that $75 price target,
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maybe about 30-40% upside e from here. you still is these two value capitalists coming up, i think they finally start using that cash pile and start buying back stock. it's the right, mature, responsible thing to do, and i think they get added to the s&p 500 in the march quarter. so uber remains our number two pick. but, you know, again, the rewards aren't as great going into '24 as they were going into '24 because it's more of a popular long here. those stocks can still work, but you have to have a lot of earnings growth. stuart: okay. we hear you. mark mahaney, thank you very much, indeed. great november for you, we appreciate it. all right, the bell is ringing, that means the market is about to open on a friday morning. it's the first day of december. coming up -- coming off, as we keep saying, a wonderful november, a real bounceback. and now we're open. hits the button and we are open. modest lost for the dow industrials. flat to ever so slightly lore. you down 10 points on a 35,900 index. we've got about one-third of the
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dow on the upside, make that a almost half. it's an even split at the moment, winners or and losers. the s&p 500, please, where is that opening? down a mere fraction, .17%. the nasdaq composite, where's that opening? it is down a mere, well, one-third the of 1%. i, therefore, expect some big tech stocks to be down at the opening bell, and they are. amazon up, apple up, microsoft is down to 377. alphabet, 131, meta, 325. okay. tesla's loan awaited cyber truck, it's here. the price? $61,000 roughly, and that's up from the original price projection of under 40 grand, so they projected under 40, it came out at a 611. -- 61. they did that back in '19. this cyber truck has a rain of almost 340 -- range of almost 340 miles and a bulletproof exterior. is this a winner for tesla? >> listen, i don't think so. there's nothing attractive about
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that car. it's one of hose cars that people want to buy to say, look at me. i don't think it's a winner. it doesn't feel it to me. we'll see. stuart: do you recommend tesla? >> a i'm not a tesla owner, no if. and i don't own the stock, i don't own a car but, no, i don't recommend the tesla. stuart: let's move on to disney. the dividend was suspended at the tart -- start of the pandemic, but nelson peltz has launched a proxy fight. i think he's demanding board seats, why? >> because he doesn't like what's going on. he's complained about the streaming businesses, about the lack of a succession man. and, therefore, i think he wants to get on and create change, right? right at that level. stuart: he wants iger to boost the value of disney's stock. >> right. and so -- so how does that happen in do they get rid of the streaming business? what do they do? that's going to be part of what he, i guess, wants to do on the board. stuart: your folks own disney?
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>> we own disney. stuart: you do? >> i don't own it or personally, the firm owns it. stuart: are you comfortable with it? >> they're comfortable, i'm not. [laughter] stuart: moving on. novo nordisk has filed lawsuits against a few medical pharmacists alleging those businesses are selling copycat versions of their popular weight loss drugs. novo nordisk's stock is up 50% this year. any comments? >> it's been amazing. i mean, look what's happened. you talk to anybody who's taking those drugs, and they're losing weight left and right, and and they're very happy about it. we've seen that boost in both those stocks, lilly, novo nordisk -- stuart: i don't know anybody who will admit to using wegovy or whatever -- >> it's very interesting, because i know a lot of people. stuart: do you? it works? >> yeah, you can see it. i will say you can see it. and people, people are saying, listen, i'm just doing it because they struggle, they can't lose weight, they want to, they feel much better. so, yeah, people aren't
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necessarily hiding the fact. stuart: we've got some weight loss news that's kind of negative. it's from pfizer. they are discontinuing trials for a twice daily obesity pill after many apartments just dropped out. they -- apartments just dropped out. they experienced nausea, vomiting. this is not going to slow down the whole weight loss truck thing, is it? >> no, i don't think it is because people are not experiencing those same side effects, apparently, with the we dove i have and to semi-- ozempic. not to the point that story was suggesting. stuart: it's unfortunate that it's a pill, because some people would prefer to take a pillover an injection. >> well, that's interesting, the people who take the injection, they say it's not a big with deal, they stick it in their stomach or back side -- [laughter] stuart: good lord. of we'll change the subject, kenny. [laughter] ulta beauty surging. the ceo says they're offering more promotions this holiday season to help navigate rising prices for consumers. that's a surge, 10%. >> right.
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and, listen, women want to look nice no matter what's going on in the economy, in the market. it's the holiday season. it's been a great stock. it's been a great stock, certainly, for investors. it makes perfect sense that they're trying to attract more people many by offering promotions. stuart: and men, of course, don't want to look good. >> not to the point -- i'm not going to ulta beauty to put makeup on, i'm just looking good because i'm looking good. [laughter] stuart: you're having quite a performance today, aren't you? all right moving on. the "wall street journal" reports apple and paramount are looking to bundle their streaming services at a discount. apple and paramount have high higher customer defections. is this a good move? >> honestly, i've not paid attention. i guess we're going to find out. apple's, you know, under pressure, paraa mount is now up. so let's see what the market really think abouts about -- thinks about it. stuart: let's get to bitcoin. a half hour ago we were close to 38 and change.
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38,3, is where we are. it's the highest level since may of 2022, i believe. crypto problems behind us? >> i don't think they're really behind us. there's still a lot in front of us in terms of regulation and all that stuff but, look, it's been a great performer. i do own some of it. not enough now, but i'm in that game a little bit. i think crypto going to be part of the future, so i think you have to have some exposure to it. stuart: it's just an alternative investment. >> it is. i think you have -- it has to have a place in your portfolio without being overweighted. stuart: got it. you brought some stock picks with you, stocks that you like and think are going to go up in the future. start with ibm. >> i think that's the -- look, it has acted very well. down today, but it's acting very well. sold off 10% during that october flash, but it's taken all that back plus some, and i think it's underrated in terms of what's going on in artificial intelligence, and i think that's going to become with clearer in 2024. it's a name that i own and i
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like. stuart: 158, have you got a price target? >> i don't because i'm not an analyst, so i don't put a price target -- stuart: but it's going to go up. >> yeah. i think it's going higher. stuart: bank of america? >> it's been an underperformer. it's off this year compared to its peers, but it has also recently lifted its head up. i continue to like it. i'm up a little bit in it, but i also think it's going to be one of those plays that will come to its own next year in 2024 and catch up with its peers. stuart: here's one i've never heard of. >> alpha metallurgical resources. >> this is the one i gave you a couple weeks ago. i gave you two names, this was one of them, and it's performed well since two weeks ago. coal makes up 38% of the energy demand, and it's in the going away, i don't care what they say. fossil fuels if coal are not going away, and alpha metallurgical is my pick in that sector. stuart: all right, we hear grow. thanks very much, kenny. coming up, i want to know is
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the man flu real. do men suffer more when they're sick or are we just whiners? send in your answers, comments to varneyviewersfox.com, friday feedback. the house judiciary committee remember corps toed -- subpoenaed biden's former white house chief. i'll ask jim jordan, he's going to be here. migrant withs who cross the border cannot obtain a work permit until six months after their claim. should we let 'em work sooner? i'll ask new york congresswoman nicole malliotakis next. ♪
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it's amazing what real food can do. only at vanguard you're more than just an investor you're an owner. that means your priorities are ours too. our retirement tools and advice can help you leave a legacy for the ones you love. that's the value of ownership. stuart: on the markets after 12 minutes' worth of business, we have the dow up to -- 20, the
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nasdaq down 50. illegal migrants who claim asylum currently have to wait six months to obtain a work perfect bug cities want to change that. concern big cities want to change that. will william la jeunesse is with us. what do they want, william? >> reporter: they believe illegal immigrants can work soon after crossing the border, they won't need city services and shelter. it's all part of an overall debate on capitol hill right now, what the administration is doing or not to deter illegal immigration. in october it released or paroled 64% of almost 200,000 migrants which is why some republicans want to attach border security to a must-pass ukraine and israel funding bill. they want, one, to stop migrants from gaming the asylum laws, lying about being persecuted just to work here and, two, end so-called humanitarian parole
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otherwise known as catch and release. >> the statute says that many of these populations are supposed to be in immigration detention. but this administration if has not -- is not detaining really hardly any illegal aliens. they're releasing them. >> reporter: so the conservative heritage foundation opposes this proposed deal disappointing senate negotiators like republican thom tillis. >> we've got heritage, is that heritage action? if they're recommending to give something that's not even written on paperer. i mean, we've got outside interest groups against stuff that hasn't even been written down, and the democrats are dealing with the same thing. >> reporter: democrats propose to let illegal immigrants work almost immediately after crossing the border, not the current six months or one year. democrats say letting immigrants work will unburden taxpayers. >> it's unfair to migrants and
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asylum seeker, and it's unfair to new york city taxpayers. we should let them work. they want to work. >> reporter: one takeaway, stuart, in reporting this story, agents i spoke to and the lawmakers, even analysts say the solution is not money, it's policy. and until you close that asylum loophole, you're going to continue to have overwhelming numbers at the border that the administration will be forced to release. stuart: thanks very much, william. new york congresswoman nicole malliotakis is with me now. should we let migrants work, and if not, why not? >> i think it's a little bit more complicated than what the democrats are saying. and for my mayor who wanted people to work as, you know, this has been going on for well over six months. the vast majority of the people coming to new york city are now eligible to vote, and the president also allowed venezuelans to apply for illegal work status, and only 2,000 people of 100,000 actually
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applied. so the issue is more complicated. and i think the other problem, stuart s there's a real backlog at all these agencies. it's not just cbp who's at the front lines of the border who not handle these individuals and is being forced to release them into the country, we have immigration services. you're waiting 10 years to be able to get an appointment to go to court. i actually have constituents that have a green card, have to get it renewed and can't get it renewed and are in jeopardy of losing their employment because they are stuck in this system that has been inundated by this mass migration at the southern border. and so i think when we talk about this issue, it is about, you know, let's help those individuals who have been waiting in line, doing everything right first, and then we can issue visas and work authorization for people when follow the process and apply properly. but this mass migration at the southern border, it is really a problem, and the fact that 50% of these astyle lumbar case -- asylum cases are deny canned shows you that people are
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abusing the system to gain entry into the united states. stuart: got it. congresswoman, you have a bill to prevent migrants from being housed on federal lands. what's wrong with putting them on federal lands? >> look, as we've been saying in new york city, this has become an unsustainable crisis. the mayor has taken our hotels, our schools, priest catholic schools -- previous catholic schools, assistant living -- assisted living facilities if if now our open spaces, and it's becoming a tremendous burden on the taxpayer. we're talking about billions of dollars, and he's proposing a 15% across the board cut of city services the divert resources to supporting these migrants. and in addition to that, at a time when we're always talking about public safety in new york city, we are now down 6,000 cops. 2500 police officers left the work force this year and not be replaced because the mayor is diverting resources, again, to the migrants. it's unsustainable, and it has to stop, and if we continue to
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allow these encampments and shelters to open up in new york city, we will just continue to incentivize more people to come over the border. we need of to have a process in place for the safety of everyone involved. stuart: well, where are they going to go? >> well, again, we need to secure the border -- stuart: well, we're not -- i'm sorry, congresswoman, we're not going to control this border with this president in office. now, we're not, are we? >> well, we're hoping that this negotiation that's being discussed right now, that we will be able to accomplish some changes. but the reality is, these democrats need to recognize how out of control this crisis is. senator schumer should listen to his own mayor who's telling him it's destroying and bankrupting new york city. why won't senator schumer, if he doesn't like our border security act, pass his own legislation? it's really unfair what he's doing to husband own citizens. -- his own citizens. stuart: i agree with all of that, i just don't see how this mess ends. >> we're trying to use our leverage in this fight with appropriations to try to get them to do something.
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stuart: fine with me. congresswoman, thank you very much for being with us. we wish you the best of luck. >> thank you. stuart: the house is putting off its impeachment vote of homeland security secretary alejandro mayorkas. congresswoman marjorie taylor greene pulled her resolution, she says speaker johnson promised to move forward with impeaching mayorkas very soon. even if mayorkas is impeached and taken out, you've still got the same president, and nothing changes. >> that's right, nothing changes. it'll be all drama and fanfare, all this discussion. but what's really going to end up happening at the end? nothing. stuart: you don't know how many times on this program we've had people say, oh, we've got to control the border. it's not going to happen while this president's here. thanks, kenny. coming up, the president's mental condition is a national security threat. that's my opinion. he can't do the job is, but his backup vice president would be a disaster in the oval office. that is my take, coming up top of the hour. the end of tiktok isn't on the clock anymore in montana, a
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federal judge blocked a law that would have banned the app statewide. we have a report on that next. ♪ -- see the sun is light muck mix tick tock on the clock but the party don't stop, no ♪ ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines.
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stuart: okay. a federal judge has blocked montana's man on tiktok. why did the judge block the ban on tiktok? >> tiktok wins a reprieve from a montana judge who said estate law banning the apps can't go into effect in january as scheduled because it violates free speech guarantees. the federal judge granting preliminary injunction blocking the law which was passed by the montana legislature. a spokeswoman for the ag's office saying that this is a limiting matter at this point, the judge indicated the analysis could change as the case proceeds and the state has the opportunity to present an
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actual record. we look forward to presenting the complete legal argument. the stakes are high, the montana case, everybody is watching it. the apps owned by china based white dance is under scrutiny over accusation its share information on 150 million users with beijing at its impact on the mental health of younger users. tiktok has repeatedly said it does not share user data with the communist party government. we asked again and heard nothing back. no other state has implanted such a man but details on what other states are doing, you will see everybody is concerned about this. president biden tried to shut down tiktok in the us, chinese owners sell their stakes or face possible ban but so far the efforts of gone nowhere. stuart: i don't see a national ban on tiktok. i can't imagine. it would be dramatic in the extreme. the political party that bans
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tiktok loses votes. >> i think you are right. tiktok plays into the younger generation that if they alienate them it will be a big issue. stuart: it is a good platform. people like it because it works well. >> it does. liz: too well in some cases but efforts to push back on this on a national basis are unique. stuart: thanks very much. thanks for joining us. still ahead. tammy bruce on the left's dangerous indifference to anti-semitism. should we protect american ev makers by keeping china out? i will ask texas congressman pat phelan. a report card on california governor newsom on the debate last night was ohio congressman jim jordan on what he expects to hear from doctor fauci's testimony about covid origins and is linked to the wuhan lab. the 10:00 hours next. ♪
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