tv Cavuto Coast to Coast FOX Business December 19, 2023 12:00pm-1:00pm EST
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6 keys laying. lauren: 5 golden rings. david: four mockingbirds, three french hens. lauren: two turtledoves. and a partridge in a pear tree. david: we think it is made a milking. did we put it up? it is, we got it correct. lauren: we miss a lot. lauren: it was first published in 1780 in london but the version we know best today was composed in 1909 by frederick austin. you've heard of austin, texas, that is who austin, texas, i am kidding. besides our awful singing a good day for the markets, the dow is up. all the indices are up in a hardy way. that is it for "varney and company" today. coast-to-coast with neil cavuto starts now.
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>> markets firing up even more. what does this iceland volcano have to do with the markets, welcome, i am neil cavuto, what's amazing about these twin developments when it comes to the markets. it is happening in the face of higher energy prices and all these constant rebel attacks widened to the point the seven major companies saying we are out of their. we are following that. it would normally rattle investors. my next guest has been bullish when it wasn't cool to be bullish. good to see you. i what is going on here? it is still coming on strong. >> reporter: there was so much
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doubt we could engineer soft landing. and yet i call it the ghost of covid. we got so pummeled with bad news, we found it difficult to find hope and to find a way forward. because of this thing called america and grit and hard work and everything in spite of washington which can't get everything right these days, this economy is moving forward and that is why inflation is coming down and the fed is off our back and stocks. david: when urging patients, now, and this is nice. i'm getting scared.
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>> my response to that. the nasdaq is 8%. >> the dow has been making, still lagging, the small caps are down double digits? david: how do you get the market going forward? a lot of people say multiples getting stretched? >> they absolutely are which is why you need to manage your portfolio one stock at a time but what is the stock doing? you need to set a target. i learned that from my mentor, you're only rational ones before you buy the stock.
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neil: buying on the dip, you are bad at that. what do you know? >> palo alto software, microsoft, they have all hit their targets in the past week. david: jpmorgan -- >> famously responded. how is it you became so rich, you sold so soon. neil: what about the magnificent seven, even more magnificent. they are disproportionately weighted in them. >> microsoft did sell half the position. i bought it a year and 1/2 ago, almost doubled my money on that so i should sell half the position. neil: a lot of people look at stocks with endless potential
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or long-term societal -- so you don't subscribe, microsoft comes to mind. >> you are getting at the difference between a value investor and a broke investor. r-value investor would say it's trading more value. it is fully valued at -- they are playing that range, a growth investor but not look at bank of america but sophia technology, first ever bank that was created to be an online bank and this could be really big. not just where that is but how are they growing every year, or growing gdp but 30% because -- neil: what about the background noise, the higher energy prices spreading, houthi rebel attacks, it could rattle everyone's cages here.
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>> the world is well supplied with oil. i'm an oil trader. i say that with the degree of confidence because the way i trade oil is a value play. you need to trade like a value play, and so oil stocks, it is self-correcting. when a lot of oil is pumped the price goes down but when price goes down you stop pumping. neil: great article in the wall street journal about 401(k) investors, a little emboldened by this, getting really aggressive, what do you tell them? >> two things. number one, timing the market and point number 2, put a little bit of money in it, don't necessarily have to be a hero, no one buys or sells the top, that was good enough.
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neil: you really want to load up on tach, how do you handle that? >> take a deep breath. never as bad as you think, never as good as you think. keep the ball in the bill of the fairway? adam johnson, have a merry christmas, we will chat that again. we told you about this effort to deal with all these red sea attacks. there's a plan to get a task force in the area. it's too late for a host of others, the better part of valor is to get out of there so what changes? let's go to edward. >> the administration has 9 energy companies including addition of the us 10 total countries that will patrol the red sea to make it safer for those commercial vessels, it's called operation prosperity guardian. of those 10 countries they will send a military equipment into
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the red sea, you see the list of countries right there making it safer for those ships to pass through the red sea, one. $5 trillion in goods passes through that area each year, it added cost for insurance premiums and increased costs for traveling father to avoid the red sea. lloyd austin put this group together. >> all countries have the right to move freely and lawfully in international waters but that foundational global right is under new threat today. these reckless houthi attacks are a serious international problem and they demand a firm international response. >> is in bahrain after leaving israel. ten companies have decided to divert ships around the red sea. that includes bp, which sent
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oil prices up yesterday and slightly higher, some of them up today. make the journey for oil and anything else on ownership about ten days to two weeks longer. republicans believe attacks have dragged on with too much talk and not enough action against the source of all the proxy money and that is iran. >> this administration on the one hand has been strong in terms of backing israel up in its response to hamas. i give them high grades for that, very poor grades in your overall dealing with iran. they want to keep the temperature low in the region. they understand israel, they are backing israel in that effort. >> reporter: a houthi spokesman told the news outlet al jazeera that the houthis plan to continue to attack ships regardless of who is patrolling the red sea. neil: as edward was outlining, i might add the six or seven
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shipping concerns that pooled out of the red sea are not going back or hinting they are going back anytime soon. they need to get assurances this is going to work. they are not really convinced just yet. a retired navy seal, smarter, not harder, best selling author, they are leery, they are very leery, to a company, including merits, they are not rushing to get back in. >> i wouldn't rush to get back in. you have to see some action creating a task force is just reorganizing. you are not showing any action and so far, this administration and the task force they are creating, they need to hit radar sites or missiles, targets inside yemen, an offense of posture rather than purely defensive. neil: they didn't realize they
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were so spread out. to the suez canal, it's getting out of hand. this is there water. >> these are international waters, the primary job of the u.s. navy is to protect lines of communication since the advent of navies around the world, that's a major role and we need to protect those traits and allow commerce to go, hitting targets in yemen. neil: the farthest were the most noteworthy of responses to various attacks. they have not gone to yemen or these other areas. don't the bad guys know that, and actually emboldened by that?
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>> we are in the worst position, and they are not directly involved in something but when you are involved and receiving direct attacks, responded to those with any forcefulness at all so they continue on. we need to take the fight to iran and impose costs on them, not physically in iran but economic costs, domestic costs on them, things like that so they stop this. neil: thank you for your service to this country, the genuine article here. retired navy seal commander, best-selling author as well. i want to throw your attention to this volcanic irruption we have going on in iceland, these are stunning images, 5:eleven p.m. their time. this eruption took place last night in the southwestern part
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of the island, reykjavík, the country's famous thermal swings, potentially in its path. if your residents in that neck of the woods, stay where you are. ♪ liberty mutual customized my car insurance and i saved hundreds. with the money i saved, i started a dog walking business. oh. [dog barks] no it's just a bunny! only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ salonpas, makers of powerful pain relief patches for 89 years... believes in continuous improvement... like rounded corners that resist peeling, with an array of active ingredients...
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adam: if the feds aren't going to get involved maybe the police in texas will cover the deal with the massive surge at the border that picked up considerable steam in the last 48 hours. this is an eagle pass, texas, processing area. sometimes you have a couple, and in this case, if you hundred number into the thousands. i know bill melugin is not. the governor taking the initiative, to arrest illegal immigrants, tell us more. >> reporter: this is bad all over the southern border, cvp sources telling fox there have
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been 12,600 migrant encounters, the highest ever recorded. in us history. we will take you to eagle pass. one of our contacts shootings to markable video showing thousands of migrants who crossed illegally, waiting for border patrol to apprehend them. i spent hundreds of days in eagle pass, never seen it this bad. to fox news drone in the skies above eagle pass, it is ongoing, you can see hundreds of migrants waiting for border patrol to pick them up. they already had 5,000 in custody out there and still trying to transport another 4500 of them. a massive influx. as a result you can see cvp shutdown the orange bridge, the railway bridge from mexico into the united states.
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they have done this in el paso. the reason they wanted to deploy cvp personnel to help border patrol with processing migrants hurting international commerce, union pacific not happy. union pacific urges eagle pass in el paso border crossings to be reopened. roughly 450,000 rail shipments move across these two gateways annually, one million trucks to move the same amount of goods. these locations represent 45% of union pacific business and include goods critical to the us economy and it is not only in texas, look at this video we shot a couple hours ago in arizona where i am, you had a massive -- in the overnight hours as well as of this morning, border patrol to apprehend them had them walk down a road to go to the outdoor processing tend area but they keep coming in from all over the world, some of
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them from africa including liberia, others from bangladesh and back out here alive and the problem gets worse. regarding those railway crossings, that could potentially hurt the us economy and what the biden administration is doing is shutting down international commerce from those locations to speed up migrant processing and mass catch and release. adam:'s are numbers on like we've ever seen. what triggered this latest? >> that influx into eagle pass, it would appear, we don't have concrete evidence but if you remember last week, fox news got that video of the train moving through mexico with thousands of migrants on it, that train was headed for the mexican city directly across from eagle pass so it would appear thousands of migrants who were trying to get on the train and head to the border and up doing so successfully in
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the last 24 hours have shown what happens when that many people are able to get there all at one time and we are told by our contacts there are more on the way so this is not over. neil: the senate committee on finance, key player in this battle as to what happened on the border, these deals to foreign countries. republican saying you got to attach something on security to the border, what we iron out for ukraine or israel. do you agree with that? >> it is contingent on the parties coming to gather, what they dealt with for 50 years,
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ukraine aid is critical, they insisted on this, they are having good conversations about this, the biden administration, in addition to $14 billion included in the supplemental package for israel, there is an even chance you won't get to a bipartisan deal on immigration that could make a difference. >> they are far apart on, defines reform and getting it going, what is already here, republicans calendar, lockdown the border first, where are you? >> i deeply regret, the gang of
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8, negotiated immigration bill years ago, 68 votes in the senate which is a shame because immigration, lawful immigration is a strength in this country going back for generation, driven about 1/3 of that. neil: we let in from 1.4 million each year every year, those the legally do so and what is happening now. >> in the next 7 or 14 days. these legal issues which are important, people coming lawfully to the united states.
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i do think, you say democrats and republicans disagree about the stuff, that's true, i would say this. i do not think the american people want transnational gangs in the united states of america. when you see the numbers of people to the biden administration, these gags, making billions of dollars smuggling human beings from all over the world with all the attendant consequences to humanity into the united states. and the united states should be in control of the border, not transnational gangs. >> >> whether he relayed that to
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the -- polls indicate, and when he paid attention to this earlier. >> and in those of us were saying, to do a better job going forward. the president has said the border is broken. homeland security adviser, has said in every single one of his congressional testimonies the border isn't working. we have the chance of $14 billion on the table, your own correspondent said part of the problem is they can't keep the train tracks open because border patrol has to do the other processing. with changes to policy, we can create a system on the border who is worthy of the american
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people's respect. i appreciate that i noticed this early, i said this on your program some time. neil: you've been very homeland reasoned, we should emulate that. cooler and calm her heads. hope you have a merry christmas. >> i'm going to come back with a person of your jacket. neil: i call it the used car salesman look. thank you very much, my friend. apple, this is something you don't usually see during the christmas season, has to pull very popular watches on the market in the buying season but it is an unusual feature that we will tell you about after this. in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence.
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neil: that volcano has erupted in iceland. i remember a few weeks ago we were covering it, covering all these other developments, did it smoothly, but something in brian is saying and there, to see it, what do you think? >> reporter: i was a few days too early. for the last 19 hours the world has been watching this live video, it's just magnificent, lava spewing from a 21/2 mile crack in the earth's surface, the intensity of the irruption is diminishing. at last check the fountains of lava are reaching 100 feet into the air and the amount of lava flowing out of them is 1/4 of what it was yesterday, the first hours of this eruption, 66,000 gallons of lava per second were shooting out of this fisher reaching 330 feet into the year.
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here's the moment the volcano erupted last night, 10:seventeen p.m. iceland time, 5:17 new york time, the irruption taking place in iceland's most populated peninsula about 30 miles southwest of iceland's capital of reykjavík, just 21/2 miles northeast of the fishing town of reykjavík, we were there last month and after the town of 4,000 was fully evacuated on november 10th, thousands of earthquakes caused damage and raised fears of an imminent irruption, iceland is monitoring this lava which at this point does not appeared to be flowing toward the end of it at least now. the government says there is no threat to life but officials promise they will finish building defensive walls to diverse the lava from a nearby geothermal power plant that powers 30,000 homes and the world-famous blue lagoon. there is good news just in time for the holiday travel rush, one of volcanic corruption canceled international flights
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for weeks thanks to huge plumes of ash and smoke, there are no disruptions displayed international flying roots, expect to stay open. this is the fourth and the largest volcanic eruption on this peninsula since 2,020 one. they expected to be active like this for decades to come. neil: i remember when it stopped air travel in 2010, you were 20 years old. great job as always. meantime, apple is doing something i don't believe i ever do in its history, has to prove very popular products from the market because of a patent dispute. two and purse pick taylor, what is going on here, kurt? >> kind of bizarre this hit into left field. the us international trade commission ruled that apple can't use the same technology
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owned by massimo, if you put that oxygen and ask that oxygen reader on your finger, that technology apple is using for the blood oxygen in the latest two models, and the watch series 9, those are the latest apple watches in the market, today and tomorrow. like your last day or to buy one in the us as apple suspended those sales trying to resolve this so you better hurry. i have a link on my website where you see various places you can find it and it will be interesting to see what happens on the black market unless apple is able to salvage this. we are waiting on a ruling. president biden could rule by the summer 25th whether to overturned that ruling allowing apple could continue.
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former vice president al gore on the apple board of directions i wonder what the black line might be as much as i've pried into that, back from apple. but another thing apple is trying to do is they have a team of engineers working on technical solutions to circumvent the ruling so they can do it for the blood oxygen reader on the latest watch to still work but wouldn't infringe on what it disagrees as is their patent. neil: we will watch it closely. all right. i don't know how you feel about tiktok these days, 50 one% were polled, support banning it outright. the other 49%. ♪
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particularly to a person of your persuasion. good news and bad news this morning, the bad news is there's a kid in that line screaming her little head off. neil: the odd thing is that child was quiet until she noticed jeff flock was about to give a report. you handled that very well. >> reporter: i have that effect on women. stuart: i'm got julie: the point, one rates you suck, we got one from stu, please stop talking about adele, this is fox business, not mtv. a lot of you are saying wait a minute, isn't that the devil's favorite? ardell can call it the same time i peter little every comes. you guys tease me, there's the control room where we are getting that call. time flies when you're having fun. one of my favorite funny guys responded.
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the fellow next to me now. charlie gasparino. charles: i heard there's a good way to make money, stocks. what you subscribe? you want the upper tier with me. neil: probably. what are you following now? charles: tiktok going down the rabbit hole. the short video very controversial. there's definitely bipartisan calls to remove this thing. neil: the other 40% are too busy dancing. charles: they will start screaming. jeff flock was talking about it. a short video apps owned by a chinese company. people believe chinese are
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somehow manipulating data. the company denies it. no doubt china regulates what sort of stuff their kids can watch on tiktok, while here in the us it is anything goes. all sorts of indoctrination into you know what. bipartisan calls to get rid of it. we are going to see something probably as soon as we come back from christmas and new year's. neil: to deal with the tiktok situation. neil: i don't know if president biden or donald trump can be fair amounts. neil: both sides loathe you. charles: hate me. neil: something is coming. more said than to do. charles: by the president or parties, does donald trump want
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to shut down tiktok? he had -- we broke the story. neil: started with we. charles: microsoft wanted to buy totally in 2,020 when trump was putting pressure the first time they backed off because they didn't want to sell totally. to bring oracle in. neil: the next administration. >> does he want to beat up on tiktok, grandkids screaming at him. neil: ever been in the dancing videos? charles: no but for that story. neil: fans to you on that.
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good to see you. have a merry christmas. charles: i like the jacket. neil: kevin hassett with us. i was thinking of kevin. it might be something similar. taking that leap, your own views on tiktok, do you think there would they and effort in a trump administration and should there be to police this thing, shutting it down? how would you feel? >> if you serve in the trump administration you have to wait and see what the president says about stuff, this is what he's going to do. happy to hear your opinions. not sure how it correlates, the
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chinese are potentially, and incredibly successful platform. feels like what needs to happen, it has us ownership charlie was talking about, the chinese has access to the data and potential propaganda value of tiktok. my guess is to engineer a takeover, might be something we needed to ban. the us platform, they don't allowing china. we have to be 18 to look at it because it is so intoxicating. neil: i think about how things change under a new administration whether it is donald trump or part of it you are rightly regarded and rightly so as a good economic
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read on this. let me ask how relations might be or should change in the administration. do you think right now, let china run roughshod, typical republican criticism and that would change. >> the foreign policy stuff is a little outside my purview. on the economy most of the harsh trump movement towards china has been left in place by president biden and the chinese economy is on the ropes. if you look at the cost of goods that we import from china they have been dropping sharply. i think donald trump put a lot of pressure on china, tariffs on china. that undermined the strength of the economy and he -- the
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president might ramp that up, something i've not discussed with him, it had the effect he desired and that seems like a bipartisan agreement we need to be concerned about china and need to take steps to stop them stealing our intellectual property antidumping goods and putting us factories out of business. neil: are you the next treasury secretary? oh gosh. >> extremely unlikely. neil: thank you very much. i planted a lot of landmines for you, you avoided each and every one. have a merry christmas. kevin hassett on all that. young voters totally befuddled by the economy and general voters saying they have had it and they want to change. a big worry at the moment. after this. ♪
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gets broken down into various segments of what is normally a reliable base for the party, then you get little concerned. young people in particular when it comes to their view of the economy, not good. that's a block that has been reliably democratic and in the last election overwhelmingly for. eliza collins following this and more. you are brilliant at pointing out these are snapshots of a moment in a moment. they are not looking good for the president. how does he turn this perception around, so members support what he says to support a good economy and markets are proof of that. is falling on deaf ears. >> that is exactly the right claim. voters are not feeling it even economic indicators are showing the economy is doing better, voters are feeling of the hit of inflation.
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your paul is not alone, biden was down. every poll we see biden is hit very hard. i will say generally in polls republican do do better on handling of the economy. with younger voters, with independents, the group of people that gave biden the white house in 2,020 they are saying they don't feel very good right now. i'm here in arizona. a key battleground state, nevada, new hampshire, battleground state, voters are not happy with biden. neil: when you look where we stand 11 months out or so, you're a student of political history, polls can change, sentiment can change, but impressions are a hard thing to knock. they take time to change. there is a delayed impact. the administration has been arguing there will be delayed impact in improving numbers because people will feel them months down the road but they argue about these improving numbers for the better part of
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a year and a half and still it is not registering. what do you make of it? >> we can expect interest rate cuts over the next year that will help but people, the numbers have been getting for a while. people are not feeling it. the white house is going to have to figure out a better strategy. voters i talked to are not excited about biden, they are not excited about trump either. the idea of a matchup between the two of them, the election of dread. a wall street paul had almost one in 5 voters want to support an independent candidate. that's a large number of people who don't want to those two choices. we are going through the primary season right now. biden is the clear front runner for the democratic nomination, trump is the clear front runner for the republican nomination, unless something dramatic changes that is the matchup and
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we could see people start to go back home as we get closer even if they have to plug their nose and vote for their candidate but right now if you are biden you are not feeling great about your reelection. lauren: 20 you might get a different strategy. kamala harris is going to try to woo those younger voters on the abortion issue that has worked for them in the past, not so much in the last go around but still reliable draw for them particularly among young people. what do you think of that stretch? >> that is a smart strategy for the white house. on abortion that is one issue democrats have seen gains. you said it worked in the last go around. it did work in 2,022 in a lot of states, exit polls, voters said that was a huge issue for the. majority of voters in arizona -- neil: the special elections earlier this year. >> yes, absolutely. democrats have done well on this issue and they should be talking about it because it is important to their base, the younger voters, to women.
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they don't have a lot going for them right now and where they are on abortion, republicans have continued to model their messaging on it, struggled to figure out a clear message. neil: thank you for that. the dow racing ahead. this is one of the things the biden folks point to. if they are doing so poorly wire the markets on fire, more after this. (singing )i'll be home for christmas. you can plan on me. please have snow and mistletoe. and presents on the tree.
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they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com at neil: other averages moving along.
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