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tv   Varney Company  FOX Business  December 28, 2023 11:00am-12:00pm EST

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>> republicans deserve answers from president biden is he shouldn't be prot protected andu wouldn't see that the other way around or the sons of donald trump for example. >> let's strike the target. we have to shoot the archer, not the arrow. we have to hold the proxy groups accountable. >> americans need to step up and they can see the president is not being forceful [inaudible] our policies first, not mexico. >> if i'm a voter, i'm frustrated and don't trust the process. seems like my interest as a republican voter are not taken into account. ashley: it's a wet and windy day in midtown manhattan as you can see. it's not that cold for
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december 28th, but people are braving the elements and taking in the holiday christmassy scenes. very nice indeed. it's 11:00 a.m. on the east coast on this thursday. i'm ashley webster in for stu today. looking at the markets continuing the theme of going higher and second to last trading day of the year and the dow, nasdaq, and s&p all moving higher and very modestly so by a tenth or two tenths of a percent. a look at big tech names and they've been generally on the upside today and that is the case, they're all in the green, meta, apple, microsoft, amazon and alphabet, the best performer is meta, up more than half a percent. as for 10 year treasury yield, it's moving a little higher and under 4% at 3.82%. that's a look at your money. now this, top house republicans want to expand their impeachment
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inquiry into president biden. lucas 2078 linn son, lucky guy, is in st. c aroix where the president is vacationing. what do the republicans want? the committee house oversight written the white house council saying they're expanding theiring into into the president and leading to the impeachment inquiry and writing the council saying "in light of an official statement from the white house that president biden was aware in advance that his son hunter biden would knowingly defy two congressional subpoenas". here's just a minute comer last night on hannity explaining more. >> they can't answer a simple question, what did you do to receive the money? they also know that joe biden stating during the campaign he never met with the people that sent his family money and he had
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a wall between the government and his family ischia i did business schemes. reporter: our own peter doocy earlier this month in the white house press secretary room pressing karine jean-pierre if he knew about the son's subpoena and just the president's reaction to this overall. >> the president was familiar with what hunter was going to say social normed and, you know -- say today and, you know, he's proud of his son. he and the first lady is proud of his son and how he's rebuilding his life back and he's going to focus on what's needed for the american people. reporter: hunter biden makes first court appearance facing the new tax charges on january 11. of course, ashley, this isn't the first time a family member of a president has made some money off a sitting president. recall billy carter hawking his famous billy beer and speaking fees and hawking that southern
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good old boy per son that and eyebrows were raise when had he accepted more than $200,000 from the libyan dictator and maybe several trips to tripoli. ashley. ashley: thank you, lucas. appreciate it. douglas murray joins us now this morning. douglas, republicans say this conduct could constitute an impeachment offense. do you think biden was involved in this with regard to the subpoena and what his son ended up doing? >> well, this is such an interesting story, isn't it, because it's been unraveling for several years now. every month we get a new development and the story come as little closer to not just hunter biden but to the president. i think this drip drip of information has not helped biden and his family. you know, it would have been much easier if they'd have come clean earlier about things like
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the laptop instead of this endless sort of pretense at the beginning that it was no such thing or russian disinformation and we only learned a few weeks ago hunter admitted it was his laptop but everyone else knew years ago. with the contents of the laptop make it clear it was a family business going on. we know that, not least from e-mail hunter biden sends one of his daughters saying whatever you do in your life, i wouldn't have to pay you a percentage of everything i earn unlike my father. there was a huge set of questions and i think it has not done the bidens any favors they've been trying to drag this out. ashley: no, and seems like their story continues to change as time goes on and i want to move onto this one, douglas, a new poll found one in five americans have a positive view of osama
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bin laden and three in ten think his force was for good. that's got to concern you even if it's deemed ignorance. >> i'm not just concerned but amazed. sometimes i think i've lost the capacity for concern. anyone that republicans 9/11 and you said to us in 2001, those being old enough to remember, if you said in 20 years time, one in five young americans will have a positive view of osama bin laden, we wouldn't have believed anyone with that claim. it's several th things and it's ignorance and we've talked before about the fact that education in america is sorely lacking. look at basic literacy and pneumorick rates in new york city, one of the highest spends per child occurs on their
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education. basic lit ragaini think is not there and everything complete the catch the american politics is bad and teach them everything in their country is rotten, they'll look for other heros, even the darkest and worst heros of all. ashley: indoctrination is awful. one last one for you, douglas. nypd ramping up security ahead of new year's eve and ball drop in time square. officers taking precautions to prevent anti-israeli protesters from disrupting the celebration. this would be an event that the propalestinian protesters would very much like to target. what do you think? >> i amazing and they're not pro palestinian, they're anti-palestinian and pro hamas and anti-israel. that's all that motivated them.
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these people that do this, there's no end to the number of things they don't want to destroy. they want to destroy the happiness of people at the macys day parade, which they did and several israelis were standing there and were horrified and how generally concerned they were at the outbreak of protests there at when should have been a nice parade and the lighting o f a christmas tree in new york. there's nothing these people won't do. i mean, if they think they're getting anyone to their cause on this, i think they should think again. these anti-israel protesters are coming for christmas and new year and i don't think the american public are going to warm to that movement. ashley: i sincerely hope not and thank you, douglas, for taking time to chat with us today. appreciate it. >> thank you.
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ashley: back to the markets and moving higher and good mornings, ray, let's get to the magnificent seven that continues through the year and can we get to next year or does it branch off in other directions? >> ash, it's a great question and the driving factor is interest rates and they've benefited from the fact that these seven stocks dominated in the s&p 500 and more interestingly, if you look at profits, these companies have been gaining anywhere 39.5% of profit earnings in terms of revenue earnings and more importantly the rest of the s&p 500 down 2.3% and they've got scale, ai on their side and more importantly digital business models powering them through and growth in 2024 still.
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ashley: we don't talk about ipos very much, but i want to kind of tap into your brain a little bit. what do you see as maybe some top tech ipos to watch out for in the new year? >> ash, you're absolutely right. it's been a date of birth of ipo d dirth of ipos in the past year and it's been brutal. the real big one was arm. we're looking forward to a number of ipos popping up and bubbling up and shine, the big chinese retailer and data bricks, the competitive snow flake and that's an ai play for data and analytics and we've got stripe on the financial side and we also have companies like canva competing against companies like adobe, openai, scale ai and a couple others on the elon musk portfolio that might go ipo like spacex or star link or some of his companies people are really looking forward to, and these are multibillion dollar ipos out there. ashley: fascinating stuff. quickly while i have you here,
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ray, i wanted to talk about crypto and last year was the crypto winter, but this coming year, if we can -- if the etf, spot etf gets approval, that could signify a whole new generation for crypto investing, would you say and do you expect that spot etf to be approved? >> it's really looking likely that eft will be approved and what's interesting about that is that the crip koenen market is coming back and mostly block chain and what's happening on the bitcoin side f. you look at investment in dubai, the number of billionaires i've seen in dubai and number of startups being formed in dubai reflect that the market is coming back in the area and etf helps and of course interest rates coming down is another factor in the block chain and bitcoin boom coming back. ashley: laths to look forward to next year. thank you, ray and see you in
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the new year. thank you so much. now this, spac mania seemingly over and there was a surge to push a lot of companies to the market and at least 21 of them have file #-d for bankruptcy and investors are losing more than $46 billion and wall street does not expect this trend to end yet and 140 other spacs that will need more financing this year just to keep operating. all right. coming up, in just a few days, argan will put new laws into effect to crack down on state's drug and crime crisis. it's about time. the state has lost $1.4 billion because of retail crime and what the new law actually does. looking to buy a new home in california, you might be in look. zillow expects prices to drop in some major cities next year. we'll tell you by how much.
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the president of belarus said russia has given the country new tactical nuclear weapons and we'll ask george bb if we're on the brink of a nuclear war. we're going to talk about it next. ♪ 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 -hey there. -hey. -hi. hey there. how are you? i'm with disabled american veterans.
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want to take the time to thank you, honestly, for giving back. and when you gave to dav, you are supporting veterans like dave and myself. so thank you so much. thank you, you guys are amazing. thank you. thank you. you can say thank you to our nation's heroes, by calling the number on your screen right now, and giving your monthly support of only $19. say thank you by going to helpdav.org right now, and give just $19 a month. when you do, we will send you this dav blanket 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
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invasion of ewe rain last year and japan joined the western allies in imposing economic sanctions on russia. last week japan would ship missiles to the united states after revising the guidelines and japan's new export control still prevent them from shipping weapons to countries that are at war. but may indirectly benefit ukraine as it gives the united states capacity to provide military aid to kyiv. the administration will deliver an additional 250 in military assistance to ukraine. this as congress is stuck on approving actual new funds for the region. foreigner russia cia chief george bebe joining me now. how big of a deal is it that congress hasn't agreed to send more aid yet? >> well, it has significant implications for the course of
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this war. you crane is almost entirely dependent on the united states in europe for both economic and military assistance. if that really falls short, ukraine could be facing a very dire situation vis-a-vis russia. there's no incentive for russia to come to the negotiating table and com compromise the end to te war if the u.s. unilaterally ends this assistance. it's critical to the way the war in ukraine plays out, and the biden administration faces a significant challenge and congress is demanding it answers some hard questions: how is the biden administration envisioning bringing in war to a successful conclusion? the counter offensive that ukraine fought failed and what's the next plan? that's something that the biden administration has not been willing to answer so far. ashley: hothouses this play out
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and nobody knows and there's been a suggestion through back channels that perhaps putin would be willing to talk about a ceasefire and accept the ground he's gained and as opposed to taking more of ukraine. my question to you is, would the, can you see putin agreeing to something like that and see ukraine agreeing to something like that? >> well, this would be a compromise that no one would like and ukrainians have a swallow a bitter pill to agree to something like this and so would the united states and nato. but the alternatives to a compromise look even worse right now. time is not on ukraine's side. it's running short of manpower, it's running short of munitions.
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the west is not in a good police station and the russians have enormous population advantages and cranking up the defense ministries and swole low a bitter pill or face a situation that's worse for everyone involved including ukraine. ashley: clearly this is the case and it's not a great develop p.m. how much of a threat would that pose? >> well, i think what the russians are concerned about is ukraine or nato might make military moves on bell ruse to complicate the war on ukraine and they're trying to send a clear message, don't do that, if you do, it's risking escalation
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into nuclear conflict and the russians are retaining control and not turning over control to belarus but nonetheless it is a volatile situation and one that's going to remain after the war ends and difficult for all of us to deal with this. ashley: george, thank you for joining us and sharing your expertise. ashley: ukrainian partisan group claiming putin ordered revenge raids throughout the city and expected to punish the crimean air defense forces and images posted bay local telegram channel showing the landing ship completely destroyed and mr. putin not happy.
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>> the defense names we've been talking about the developments overseas and lockheed general in particular and the gainers up as well. coming up, thousands of people are calling for donald trump's star on the hollywood walk of fame to be removed. but some city officials are also backing off that move. we're going to tell you the very latest in that drama. also, owner of local stop shop in phoenix hailing the city's hopeless cleanup efforts as a "miracle". going to tell us how that move saved his business. we'll have the story next.
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ashley: we're about two hours into our trading day and as you can see, we've maintained, we're up across the board on the dow, nasdaq and s&p but overall you know what, it's continued the trend for the remainder of quarter you could say with the santa claus rally is alive and
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take a look at big tech name ifs we can and they've all been moving higher today and that's the case now. meta, apple, microsoft, alphabet, amazon all very up modestly, meta up about half a percent and 10-year treasury yield and that too up slightly and under 4% at 3.82% and the price of oil has been coming down a bit and those have been questions about demand for oil and barrel of crude down to $73.41. down another 1%. all right, now this, big changes are coming to oregon in the new year. starting january 1, new laws go into effects that target the state's drug crisis and retail theft. one law will combat the drug crisis with bills focusing on educating oregon's youth about the dangers of fentanyl and preventing overdose deaths and another bill addiction treatment staffing and speed up funding to get that out of the door. when it comes to retail crime,
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which has been another big problem, another bill will impose harper lanes cheryl: congressman penalties for those convicted. finally some consequences for crime. the state has seen a whopping 1.4 billion in losses just because of the surging retail crime. some laws get ago little harsher, stiffer in oregon. see if that helps. now this, a sandwich shop owner in phoenix, arizona, says he's seen a "miracle happen after the city cleared out a homeless encampment that his business completely returned since that's gone". he said he can remain open. oh, boy. joe is the owner of old station sub shop and he's joining me now. tell me how bad it was with the homeless encampment and how did it hurt your business? >> it was -- two things. it was the mental stress of
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being surrounded by a thousand to 1200, you know, people that were on drugs, mentally ill, depressed and nowhere to go. financially it was tough because nobody ped to walk to my restaurant, especially the women because, you know, i'm surrounded in the government mall and i have a lot of government employees, and a lot of the women and even the men were scared to walk through those encampments. ashley: so how long had that gone on for and had you asked the city for help? >> yes, we went to many meetings for about two years and nothing was done so -- two years then we decided -- i decided to join the lawsuit with my neighbors and we didn't ask for anything
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financial and we just 79ed our neighborhood back and wanted to feel safe and we wanted the homeless to be helped. they're not only hopeless but it's basically a different society now. it's just strange. there's a lot of different things going on and we just wanted to -- it to be fair like everybody else in phoenix. we wanted to be protected and the city did nothing to help us. ashley: you sued the city -- sorry to interrupt, but you sued the city to force them to clean out the homeless encampment, is that how it worked out? >> exactly, sir. exactly. and -- ashley: are you worried it's just a band-aid though, joe? >> we're seeing -- we're a little worried but there is a big change, i mean, it's amazing.
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it's light night and day, we were so scared to come here in the morning when it was dark, me and my wife, there's a big difference. there's a lot more police presence and -- were you close to having to shut down, joe? close to -- i mean obviously if you're not getting customers, how do you stay open? >> i've been here 37 years so i've been through some tough times. ashley: this must have been one of the toughest. >> it was the toughest by far. it was about four years, took four years to the day almost. ashley: wow. so how's business today? >> well, we're in a capitol mall area, the government area. it's quiet during christmas but november was one of the best novembers i ever had so i'm definitely excited. it's a nice change. nice to see people -- thank you.
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ashley: yeah, joe, listen, thank you so much for taking time to talk to us. congratulations on getting your business back and we hope that stays that way forever from this point onwards. >> thank you, ashley. that you can't so much. ashley: texas governor greg abbott called out by the mayors of three sanctuary cities. they accuse abbott of using asylum seekers as political pawns. we've heard this before. nate foy joins me now. nate, what actions are these mayors now taking? >> eric adams is threatening to punish charter bus companies that transport migrants from texas to new york city if they don't follow certain rules. moving forward, the companies have to communicate with the city 32 hours before dropping migrants off at a designated location and all dropoffs must happen between 8:30 a.m. and noon monday through friday. any bus company that fails to do that could be fined or face
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other penalties. mayor adams issued the executive order wednesday after a record 14 nigh grant buses arrived from texas and a single day last week and adams again criticized texas governor greg abbott but also said he can't even get a meeting with president joe biden to address the issue. >> we cannot continue to do the federal government's job. we have spoken to fema and other federal officials who have expressed concern about the boarders surge but not off it additional help. we need action and we need it now. >> ashley, the mayors of chicago and denver are asking for more federal help and they want more money and to ex- expedite the approval of work authorization for migrants and brandon julie with the national border council council say the problem will continue as long as migrants are incentivized to come here illegally. >> if we secure our border, we have to stop releasing these people into the united states. we have to stop giving that
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magnet that draws so many beam to cross our boarders illegally. as lon as we continue to give them aid, they're going to continue to come. >> secretary of state antony blinken and homeland security alejandro mayorkas met with the mexican president yesterday discussing the migrant crisis and seen record-breaking numbers for illegal migration and southern border on pace for the most migrant encounters ever in a single month with roughly 250,000 so far in december. that means more us bees could be coming up to sanctuary cities like new york city. back to you, ashley. ashley: yeah, thank you very much, nate, for that report. appreciate it. coming up, a popular trend on instagram where you share basic details about yourself can actually put you in a major risk. we'll tell you why you should avoid taking part in any of this. for the third year in a row, california's population has declined. how much is this population drop costing the formally golden
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ashley: all right, as the markets tick slightly higher and up about a tenth of a percent across the board. take a look at price of bitcoin very quickly. we saw earlier it was moving down and that's still the case, down $1100 at $42,472 and take a look at some of the entertainment names. why don't we do that and see how they're doing today. mixed bag, disney higher, paramount, amazon is up and netflix and wall green boots alliance is down just a bit.
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walt disney up a quarter of a percent. now this, a star has never been remomoved from the hollywood wak of fame and 4,000 people are calling for donald trump's star to be withdrawn. there's a picture of it on the screen. the reason behind the 2020 petition says that trump should lose his star because he att attempted a coup against the donald trump. since then the star was destroyed, vandalized and smashed with a pick ax in 2018. trump was awarded the star in 2007 for his work on the apprentice and miss universe pad pageant and still there on the walk of fame. california exodus isn't over yet apparently. the golden state population declining for a third year in a row. william lodge necessary has the
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reporting. reporter: you have to look at revenues and the state face ago $68 billion deficit. so the bigger story is these are the taxpayers that foot the bill for the social programs, wages and pensions. >> the 1%ers, about 150 to 160,000 in the state of are paying about half of the state's income taxes. reporter: no state is more dependent on the wealthy 1% here, paying 45% of the income tax. their rate is 13.3%. that combined with the state's
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cost of housing, double the national average, is driving people away. >> i'm seeing anywhere from 2-5 clients a month calling me and saying we're leaving and it's not the younger people anymore. it's the age bracket of 55 to 65. the reason that they're leaving that they're giving me is primarily for tax reasons. reporter: so take the loss of high income retiring baby boomers who are trying to stretch their 401(k)s along with the flight of the high earning professionals going elsewhere, that's create ago 25% drop in personal income tax revenues to the state and very volatile obviously depending on what profits people take with this rally through the end of the year, ashley, but where are people going? they're going to low tax arizona and no tax nevada, tennessee, texas, and guess where, florida. back to you. ashley: no big surprise there.
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william, thank you so much. staying in california, zillow predicts home prices in san jose and san francisco will drop over the next year. predicts san jose seeing the largest decrease with a 6.1 percent and san francisco 4.8% decrease and a number of factors at play and one high mortgage rates and limited opportunities for builders and look at builder stocks on the screen and they're mixed today. look at dow 30 stocks to get a sense of where we are. it's the holiday shortened week and two trading days left in the year and volumes are low and what we have on the upside and the dow up about 45 points so it's possible. a cyber expert warning that chinese hackers have the
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capability to cripple america and could look like something out of a dystopian movie. morgan right is here to share more. don't go away. they're waiting f. 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
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ashley: all right. as we take a quick look at these markets, we're moving higher and looking at numbers again and for the year, the nasdaq up 44%, the s&p up 24% and dow up 13, 14%. has been a strong year dia bit of setback in the third quarter and finishing strong and central rally going strong and big tech name ifs we can all in the green. meta, apple, microsoft, alphabet, amazon all moving higher and best performer is meta up half a percent and take a look at some cybersecurity name ifs we could. a mixed bag, palo alto and cloud flag down and crowd strike down about half a percent and cybersecurity names we're familiar with. now this. watch this clip from the movie leave the world behind. watch this.
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ashley: yeah, planes falling out of the sky, self-driving cars attacking people. zombie deer, no phone, no internet and paints a grim picture. the question is could this really happen? well, yeah, our next guest says, yes, it could. cyber expert morgan wright joins me now. morgan, okay, how could hackers turn the nightmare that's depicted in the movie into reality in >> yeah, i'm going to avoid the zombie deers. i don't know if we can do anything about that. that's true. you know, hollywood, is it fact
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or fiction? one of the missions was out of 9/11 and movies are about imagination but out of these are kernels of truth and what it's attacking if you look at the movie and the disaster movies, they go after the hierarchy of needs and we need safety, warmth, power and they're designed to attack and china has been playing in the space for a long time along with russia but looking at what xi jinping said just to joe biden about we'll reclaim taiwan and there'll be conflict and intelligence preparation of the battlefield and cataloging vulnerabilities and the two most wants to hit where you get the biggest impact in terns of chaos to the community is power and water. ashley: yeah, and the hackers are able to get through the toughest defenses. are you surprise that had maybe attacks on the infrastructure,
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the critical parts of our infrastructure are not interfered with more? at some point we managed to prevent the nightmare scenario that's depicted in this film? >> yeah, this came out of an article i wrote for the daily mail and wrote one talking about russia and same thins and why hasn't it happened and from the nation state standpoint and worry about nato and direct attack by a nation state and get folks like iran that are cyber avengers and went after the israeli firm that had controllers for the water supsupplies and water stations e in pennsylvania. you have these actors like that. here's the thing, people say why haven't they done it? the question is why haven't they done it and what haven't they taken for them to do it and is it an act of war or something along the line as black swan event that says now it's time to pull the things out of our tool kit and start using these as part of our way we prosecute a
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war? ashley: do we have the right defense? >> you know, you're never fully prepared and we're never as good as we ought to be and better than we were years ago and you've got these things called information string analysis center and more analysis in the community and we'll never be fully prepared and saying tom ridge dade it we have to be right 100% of the time and they've only got to be lucky once and some people might call taking out twitter and snap chat and other stuff, that's a disaster and disasters when there's no power to power anything and look at how people have the colonial pipeline is hacked and no loss of isle and ran into a perceived loss. ashley: i wanted to get to this quickly if we can, morgan, another cybersecurity expert getting the get to know me instagram trend and questions about the age, height, tattoos and phobia and more. why that and more?
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>> built for stupid people. give out information and play stupid games and it's just like what's happening with tiktok right now. why do they need your iphone passwords? you know, here's the thing, remember, when it's free, you're the product. they're collecting this information and it'll end up in the hands of adversaries sooner or later. ashley: it certainly will. bottom line, is don't even think about doing it. morgan, you're always have so much information and you deliver it in very short suspended ands suint measures and we appreciate that. morgan, thank you. >> you bet. ashley: right on it. time for the thursday trivia question, already, coming up at 11:55. which year did january 1 become the official start of the new year? 85bc, 60bc, 45bc, 22b? i have no clear bc. that's me but think about it. we're going to have the answer when we come back from this break. ♪
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(singing )i'll be home for christmas. you can plan on me. please have snow and mistletoe. and presents on the tree. right now all over the country kids at shriners hospitals for children are able to go home and be with their families for the holidays. and that's only possible because of the monthly donations from people like you. thanks to a generous donor every dollar you give can help twice as many kids like me and have double the impact. with your gift of just $19 a month,
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only $0.63 a day. we'll send you this adorable love to the rescue blanket as a thank you. and a reminder of the care you'll be providing so kids can be with their families. (singing) christmas eve will find me. where the love light gleams. it only takes a moment to call the number on your screen. or you can visit loveshriners.org. thanks to a generous donor your gift will go twice as far and help more kids like me. because every child just wants to be home for the holidays, and your gift makes that possible. your call is the best gift of all. your gift will be my favorite christmas present this year. thank you for giving. please call the number on your screen or go to loveshriners.org to give whatever you can. and when you do, your gift will have two times the impact.
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every day, more dog people, and more vets are deciding it's time for a fresh approach to pet food. they're quitting the kibble. and kicking the cans. and feeding their dogs dog food that's actually well, food. developed with vets. made from real meat and veggies. portioned for your dog. and delivered right to your door. it's smarter, healthier pet food. get 50% off your first box at thefarmersdog.com/realfood ashley: before the break we asked which you did january 1st become the official start of the new year. i have no clue. it is not one of those things you say yes, of course. i will go for number 3, 45 bc.
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i am going to go for number 3. what is the answer? it is always better to be lucky than good. 45 bc. julius caesar was reviewing the roman calendar. it originally followed the lunar cycle. he felt it was imperfect, and therefore the julian calendar was born. the romans didn't properly account for leap years, more than 1600 years later, the calendar was reformed again to the gregorian calendar that we now have today. you can pull that out at the next cocktail party. looking at the markets, the dow continues to move nicely. as does the nasdaq and the s&p. all those markets up modestly by 0. one%. two more trading days left to go, today, tomorrow, then sayonara. coast-to-coast starts now.

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