like it has to pay its bills, but consumers do. i don't know, maybe people think that the government's going to come out and bail out their credit card debt like biden has bailed out their student loan debt. cheryl: well, i mean, that's certainly a bet. ing he's forgiving more and more student loan debt despite the supreme court decision. that is -- it's true. julia pollack, steve moore, louis, becky and rebecca walser, guys, thank you so much for all of you joining me today the on this jobs report. that is out for me on this friday, and i want to relate you all know -- let you all know that maria will be back on monday right here on "mornings with maria" on fox business. coming up right now, "varney & company" is away, and, stuart, take it away with, sir. stuart: if you insist. good morning, cheryl. great stuff. good morning, everyone. let's get straight to the jobs report. it's important. it gives a punt hint of where

interest rates are going and how your investments might perform. 216,000 jobs added to the economy last month. the unemployment rate finished the year unchanged at 3.7%. now, put it all together and i'll call that a strong report. and here's the market reaction. dow industrials, s&p 500, nasdaq all on the downside. not by much, but there's red ink on the left-hand side of the screen because that was a strong report. now here's the key, the yield on the 10-year treasury, it's going straight the up. look at that, well above 4% on the 10-year, 4.06. big tech doesn't like that. the yield on the 2-year also going straight up. that's up 6 basis points, 4.45 on the 2-year. as for bitcoin, we've got that holding, $43,000 -- no, it's gone up, $44,000 per coin as we speak. price of gas down one cent overnight, $3.08 is your average for regular. and that's where we are right now. politics, let's get into it.

today the president goes on the attack. he will call donald trump a threat to democracy because of january the 6th. my opinion? talking trump off the ballot -- taking trump off the ballot, denying the right to vote, that is a threat to democracy. new video from the border shows migrants still pouring into the money. -- into the country. mayor adams is suing the bus companies. karine jean-pierre has again blamed the republicans. retired four-star general jack keane calls for a change of strategy the against iran. go after their oil facilities, he says. the killing of an iran-backed militia leader by the u.s. shows a new proactive strategy. on the show today the floundering biden administration divided on almost every issue is. goes pip -- gossip from axios, tension between karine jean-pierre and john kirby dueling at the podium. 11 months until the election. it is friday, january 5th, 2024. "varney & company" is about to begin.

♪ ♪ -- then you realize ♪ here i stand with my everlasting love ♪ stuart: yeah, i'll drink to that. everlasting love for your children, that's my position. carl carlson, i've not heard of him, but i'm looking at sixth avenue, new york, and it is, as usual, almost deserted. the jobs report, 216,000 jobs added in questions can. lauren, good morning. take us through it. lauren: happy friday. no immaculate disinflation here. did you check out the wage increase? up 4.1% increase in december in wages on an annual basis. the economy also added more jobs, 216,000 in december. i do want to point out the prior months were are revised lower by a combined 71,000 but, you know,

this is a strong jobs report. it's broad-based. the private sector added 164,000, so that's not the government creating jobs, that's the private sector. a 52,000 by the government. retail, 17,000 jobs added. construction, all the demand to build houses, up by 17,000. but riddle me this: transportation/warehousing down 23,000. what about all those delivery trucks delivering holiday gifts in december? i can't divide figure that one out. -- quite figure that a one out. stocks down, 10-year yield up, i think traders are saying, what rate cut in march, jay powell? stuart: yeah with. you're really going to cut rates in march with a report like that? well done. another one, lauren. president biden speaks in pennsylvania today. he plans to target trump as a threat to democracy. lauren: yeah. stuart: do we have anything more on this? lauren: that's a dark message coming on the third anniversary of january 6th.

the biden campaign has now dutched bidenomics, and -- ditched bidenomics, and they have doubled down on the narrative that trump will dismantle and destroy freedom and democracy as we know it. he's the problem -- here's the problem, the more trump is attacked like that, the more he becomes a sympathetic figure. his polling goes up. did you see the latest rcp average? national polling, trump is ahead of biden by 2.2 points. biden will speak today in battleground pennsylvania. stuart: thanks very much, lauren. lawrence jones joins me now. he is at a diner in dallas. all right, lawrence, this move from biden, to mentioner seems like desperation going after january the 6th. he can't tout his policies, so he's going after trump on january the 6th. what are the diners saying right there in dallas? >> reporter: well, it's good to be back home in dallas, texas, stu, and they're fired up about the border. when's going wrong? >> everything -- what's going

wrong? >> everything. we need to close the border, guys. it's crazy. there's not another country in this world that has an open board, and there's a reason why. there's going to be a terrorist attack, don't doubt it for a second. there's diseases coming in. our schools are overcrowded. we have a hard enough time educating our american citizen, and it's only going to get worse unless we all get off our cans. i've left messages for greg abbott and dan patrick and anybody else that i can get their phone number. you've got to start doing it or it's only going to get worse, everybody. >> reporter: wow. and. >> she wasn't the only one, stu -- [applause] people in this diner talking about the issue. we're on the business network so, nate the great, we've got to talk about the economy. s man, what's going so wrong with the economy right now? >> well, the economy can't keep up with the -- [inaudible] when it comes to rent or when it comes to anything like groceries, gas, all of that. you're in middle america, you're

not automobiling to afford all -- not able to afford all these things. if you're a single person like myself, it becomes extremely expensive and and extremely hard to keep up trying to do my 401(k), my insurance and everything else. >> reporter: it's such a good point. and that's people living paycheck to paycheck as well. i've even been talking with folks who were in retirement, but they had to come out of retirement just to make ends meet. it's a crisis in our country right now. i'll send it back to you in new york. [cheers and applause] stuart: you're going to get a real sense of how people are feeling. lauren jones, thank you very much. see you soon to. then we have nancy pelosi. she says trump is looking to become a martyr. roll tape. >> do you agree with some who worry that trying to take him off the ballot is making him a martyr and emboldening donald trump even more? >> martyrdom is his thing. oh, you -- he cannot being absolved from his accountability

on all of this. no one is above the law, neither is he. stuart: look who's here this friday morning, tammy bruce, all fired up in red this morning. [laughter] i think trump is gaining ground because the democrats have made him a martyr. >> yes. we saw that actually begin after the indictments, right? the mar-a-lago raid. we saw that was their gambit, that americans would be repulsed. on the contrary is that that's what we've all been complaining about, the two-tier system of justice, the weapon niegz of the justice system. you've to got a government that is for itself, not for everyone else. so it is in a way less about a trump than it is about what all of us are a facing with a government that tends to not see us ask and doesn't care about the constitution. so we've seen it, the polls bear that out, his own numbers bear that out that people are embracing him more. and, you know, your remarks about a, you know, biden and his attitude, it's true that this is

desperation. if they think bidenomics and touting bidenomics didn't work, all they need to do is look at the polls and see if the attacks on trump, if that's working. that's also not working. americans care about policy. they care about their daily lives. 9 and the democrats have failed in that regard. stuart: they have, indeed. tammy, i cut it short because we didn't get a chance for you to get fired up and pound the tabl- >> just about pelosi's remarks very quickly, there's a religious religiousity to those remarks. it's about being absolved and a martyr. the fact is this country is being a martyr right now. we are -- this is unacceptable. so it's the not about him. they want it about him. they've forgotten about us. we see ourselves in their actions. we're the ones who are being hurt, and we're going to see that throughout next year and during the election. stuart: you brought it in the end. tammy grooves -- tammy bruce, you're all right. it's friday morning, a little bit of red ink, but not

that much. david industry due sky joins me now. quick question about jay powell. do you think the fed chair or will try to help biden this year by keeping rates low? >> no question, stuart. my belief is that he does not want to work for donald trump again although trump did appoint him. i think powell is actually very politically motivated. we've talked about this before, his absence to even say anything about all the print and spend politics that's been going on here. we're running massive, massive deaf deficits. but as we look at '24 right now, i think he's going to do everything in his power to empower the dnc. who knows if biden actually gets mom nawsmghts it doesn't seem like it. but what we'll ultimately find out, you know, what he's going to do, and i think he's going to end up remaining higher for longer as, you know, we just got this really strong unemployment report. you can't cut --

stuart: yeah. you can't cut rates anytime soon when you've got a jobs report like that. last one real fast, david, what are you -- what have you bought if on the stock market so far this year? >> yeah, great question. so i'm a really big fan of gold minors. they've beening lag -- miners. they've been lagging. basically, we've got gold at record levels, oil at record lows. i mean, in the low 70s anyway, and could you imagine that metal miners were flat over the year? if no one would actually think that that's the case if they sit back into early 2023 and recognize those specific fights -- stuart: is that gdx? that's the way to invest in gold can, right? the easy way. is that correct? >> yeah. you know, leveraging somebody else's expertise can be very important. stuart: right. >> and so these metal miners are positioned very, very well right now at $2,000 gold. i don't think that's going to go down. i think that's the new

foundation we're going to be building from, so i don't think they're going to go backwards even in the storm. stuart: we'll leave it there. powell helps biden, gdx, the gold minors. david, have a great weekend. discontent in the white house. the administration's holding a morale-booster party for staffers as more officials quit over the president's approach to war on israel. look at this, a stream of migrants just walking through a hole in the border wall with. that's a human smuggler clapping at the migrants. hey, hurry up, he's saying. the full report from the border next. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk,

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stuart: friday morning and the futures point south but not by much. dow off 40, nasdaq down 19. look at this, new video shows migrants pouring through a hole in the lukeville, arizona, border wall. look at that. more to come, by the way. christ city -- casey stegall at the border. what are you seeing where you are today? >> reporter: stu, good morning. as we prepare to close out the first full week of a brand new calendar year, right here in the del rio sector, eagle pass, texas, where we've been positioned for some time now, things are relatively quiet for the time being. but just as you alluded to, a very, very different story over in arizona. let's get you now to this new exclusive video. the tucson sector specifically. lukeville, arizona, the city where you see video shot by fox, a stream of migrants yesterday evening coming right through a hole that had been cut in the steel border wall by smugglers. in fact as the long line of migrants illegally made its way

through, you can see one of the cartel members briefly popping through the opening, clapping, basically telling them to keep going can, and shooting video on his cell phone with the flashlight turned on most likely to gather proof his delivery had been made. meantime, back here in texas this week, dps releasing new video of a high-speed chase. this happening over in webb county where two juveniles led troopers on a high-speed chase wednesday. dps had to use a pit maneuver to bring that vehicle to the stop. basically where they ram it. five migrants were discovered inside, everybody taken into custody. finally in el paso, agents apprehended a migrant who had been convicted of murder in colombia back in 2015. he has been arrested by u.s. agents and will be prosecuted for illegal entry and then deported from the country, that according to the border patrol chief.

so basically, stuart, no rest for the weary for those work working out here on the front lines of this continuing crisis. stuart: casey, if you didn't watch fox, you wouldn't know what was going on. great report. homeland security secretary mayorkas was asked about the historic number of migrants. watch this. >> you don't take as an administration or as the head of this department any blame for what we're seeing on the border currently? >> correct. the numbers are historic. finish the numbers are extraordinarily large. this is something that is not specific to the united states' southern border. this is something that we are seeing throughout the hemisphere and throughout the world. stuart: okay. former acting dhs secretary chad wolf joins me now. , is mayorkas deliberately avoid voiding the truth? >> well, absolutely, he is. he's done this now for three years. he does it every time he

testifies before congress. that's why particularly gop members of the house are very frustrated with him. it's why i think in part that you are going to see an impeachment hearing starting next week with. he doesn't answer questions with. it was a very simple question that bret asked which is, is the biden administration to blame either in whole or part due to the surging numbers that we see there, and of course he doesn't really answer the question, talks about how this is a global phenomenon. and it's simply not the truth. it's not the facts. it's not what the numbers bear out. stuart: the white house is blaming the border mess on, you guessed it, the republicans. watch this, please, chad. roll it. >> house republicans decided to vote on a bill that would cut 2,000 border patrol agents at the border. that's what they did. that's what they did. and they continue to obstruct and get in the way of trying

to -- of the president wanting to move forward with a supplemental that includes border security. they're getting in the way of it, they are. stuart: chad, they voted for a bill that cut 2,000 border guards. can you give us some context on this? >> yeah. i think this is, this is a refrain that the white house is using here in the last week or so. what gop members both in the house and the senate did is said we are not going to continue to fund dhs, and that means more border patrol agents. the only thing those agents are going to do is process more and more migrants into the country. so unless we have policy changes that go along with increasing the number of border patrol agents, we're not interested in it. and, of course, the white house and the press secretary leaves that part out which is we're not going to continue to give you money to continue this failed strategy that you have. but if you want to make actual policy changes, then we're interested in that and, of course, that is the negotiation that's ongoing right now. stuart: chad, would you say that the open border is a real threat

to democracy? >> absolutely, it is. it's a national security threat. the number of public safety and national security threats coming across that border, the millions of known and unknown gotaways coming across that border, it is a threat to our national security. this should have been resolved a long time ago, years ago. we're into almost our third year of this crisis with no end in sight. and every time the secretary of dhs goes on, you get more -- i think people come away from his interviews with more unanswered questions than answered. and you don't know where they're going. you don't think that there is actually resolution in sight. stuart: everybody's completely out of control. chad wolf, thanks for being with us this morning. we appreciate it. >> thank you. stuart: mayor adams is looking for new ways to cover the cost of the new york city migrant crisis. lauren, what's he doing? lauren: he is suing the 17 bus companies that took the migrants here from texas, and he's asking

for $708 million. to cover the cost of new york having to care for these migrants. so new york state law says any needy person that is brought here from out of state must be supported by the person that brings them. so that would buts companies. can bus companies. texas sent tens of thousands of migrants on buses, and adams and governor hochul think it's okay to ask for $708 to -- $708 million to clothe and feed them. stuart: check futures, please. it's friday morning, end of the week. i'm seeing some red ink but not that much. we might get a turn around by the opening bell, and the opening bell is next. ♪ she's a maniac with, maniac on the floor. ♪ and she's dancing like she's never danced before ♪

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couple reasons. google because with we're actually seeing the a.i -- we see them as one of the winners. the run areup on microsoft has already been there, but google has a lot of advancements coming in the next quarter or two. and what's important here is a.i.'s going to impact google in so many ways, not just coding and efficiency, but it makes the ad technology more efficient. and, of course, it helps them run the cloud much more quickly. and amazon because they're been investing a ton in capital expenditures, almost $200 billion in the last six years. so what you're going to see is a payout with more free cash flow popping out on the orr end in the long run plus the fact that we're in analyst -- election year on ads. stuart: but if these stocks are going to go up from where they are now, they've got to show that a.i. is really seriously adding to their bottom line, right? it's got to be. >> you're absolutely right, and it's coming in two ways, one many cost in terms of being able to produce things more quickly

and the other in terms of revenue, you're able to get to more reach and monetization models. stuart: is there any sign from any of the major players that it really is paying off so far? >> we are actually seeing it, and you're actually seeing it at every level of development in terms of software and technology. it's faster rig are where are dwoad -- can writing code, it's quicker to identify threats and threat detection. you're also seeing it in terms of automation. companies that are doing the automation are able to actually get more savings. so they can actually do more with less especially when you're seeing wage inflation and in terms of the shortage of skilled workers. stuart: are you brave must have if or am i brave enough to buy nvidia with just shy of $500 a share? what say you on this? >> nvidia's telephone -- on the high end, but we've got 12-18 months of gpu shortages still out there. we're going to see a shift as other companies go to other chips, but that's not going to happen for another 12 months.

stuart: got it. which ipos are you keeping an eye on this year in because there's some big ones coming up. >> there are. data bricks is one, stripe is one. we're hoping to see if shein, the big chinese e-commerce company. those three are the ones to look at and, of course, we don't know if any one of elon musk's companies will ipo or spin out, spacex and starlink are the two that people look at. stuart: is that possible? spacex and starlink could spin off and go public separately? really? >> that's been talked about. not sure if that's going to be the case of submitting out starlink separate friday -- splitting out, but we're starting to see shares show up on the secondary markets. stuart: got it. ray wang, always appreciate it. have a great weekend, please. they're ringing that bell, and we're going to start trading this friday morning in just a couple of seconds. press that button, please. do it. he's done it. there you go. all right. the big board or is open, the nasdaq is open, and right from

the get go we've got a tiny -- now a very narrow, i'm going to call that dead flat for the dow industrials, down a fraction, up a fraction. that's where we are. and we've got the dow 30, yes, we do. most of them are open, even split winners and losers, 50-50. just about. dow's off 15 at this point. s&p 500 also opening, i think ever so slightly -- no. i'll call that dead flat. it's up 2 points on a 4,600 index. nasdaq composite, where's that going this morning? it too has just turned around. it's now up. you know, an hour ago we were down 100 on the nasdaq on that strong earning, that strong jobs report. now the nasdaq is up 8 points. show me big tech, please. i expect to see a mixed picture there. no, it's not mixed, they're all green. alphabet, microsoft, am southern meta, apple all on the upside. apple just turned south a fraction, up 181.77. i want to start looking at individual stocks now with one of my favorite places to go, and

that is costco. they're starting off the new year with a lot of good news. go for it, lauren. lauren: they really are. this is the december number. their december revenue rose just about 10%. people went in, they bought the stuff that they needed to serve, you know, dinner for christmas, and they bought gifts to give to people. online sales up 18% in december. it's a fresh number and suggests that the holiday shopping season was pretty strong. stock's up 1.3% at 657 now. jeffreys says it's going to 755, and open timer says it's going to 695. stuart: i've never bought that shop. i always liked the company, i shop there frequently -- lauren: did you ever buy the churro from if costco? stuart: the who? lauren: i know you like the hot dog. the churro? the sugary, long doughnut? stuart: no, not. lauren: i hear they're discontinuing it. stuart: there's the news. let's get to ap.

they're down, what, 5% in 2024. is there more bad if news for them this morning? lauren: so, yeah. stock's actually up right now, so we'll take that. but their biggest supplier that assembles the iphone, right, their moneymaker, foxconn, says that it's december revenue is down 27% from last year. that suggests weak market demand, industry demand. so specifically apple. we started the week telling you that barclays cut their valuation of apple, their rating on apple. then piper sandler, whose analyst actually calls the iphone old and boring, that's why apple's stock got hit so bad the start of the new year. if you look at the market capitalization, how much this company's worth, it is worth only $100 billion more than microsoft. that's it. when we look at the numbers. so microsoft can beat them if they've got the a.i. game. stuart: apple is another stock that i've never owned and probably should have.

>>. next one, have a look at tesla. i'm pretty sure they're going to be down this morning because they've got -- yeah, they are. they've got a big recall in china, right? lauren: 1.6 million cars both imported and produced domestically. that is basically every tesla that is in china. there's concerns over their auto steering function and the door latch control. but, you know what, stuart? when we're talking tesla la, all of these problems can be fixed remotely, over the air upgrade. i think the big problem for tesla is where's the model 2, right? the cheaper version. because china's b byd is the winner when it comes to sales because they've got an $11,000 ev. so they're outselling tesla because they're more affordable and propped up by beijing. stuart: it's the competition, not just the recall that's got them down a little bit. only down .7% at this point. palin steer, i think -- palantir, i think they're down bigtime. what's the problem? lauren: a.i. hype overblown.

they're in a discuss pilot with the u.s. army, one of their customers, over who exactly owns the data that they use. jeffreys downgraded them today to the equivalent of sell. they say the stock is only worth $13. they note a slowdown in the government business but also the commercial business, and they say they underestimated the severity of the slowdown. palantir was up about 170% last year, so this isn't much, but nonetheless, they got a sell. stuart: one of the world's largest alcohol companies, that would be constellation brands, i know they reported before the bell. as we start the dry january -- [laughter] some people start dry january -- how did consolation do? lauren: i never you wanted it -- understood it and i never have done it. how did constellation do? i know the stock is higher by 2%, they make corow corona -- cobro e -- corona, but they saw sales fall 7%.

we're still drinking even in dry january, but we're buying cheaper booze and less of it. so smaller contarians. so their overall -- containers. so their overall sales missed expectations. stuart: all right. let's cap this out. we've got the big board after 5 minutes' worth of business up 34 points. 37,400, is the level. show me the dow winners, please. i know there are the some of them out there. on that board headed by caterpillar, boeing, home depot, jpmorgan chase and nike. microsoft just a made that list. the s&p 500 winners, this is a chance to show you some of the stocks on an individual basis. constellation brand, nvidia is on that list, up $7, 1.5%. nasdaq winners, who's the top of that list? datadog. costco's on the list, up $9. nvidia's on on and marvell technology. here's the problem for the market first thing this morning, the yield on the 10-year

treasury. it went straight up when that strong jobs report was announced. coming off a little bit, but you're still at 4.04% on the 10-year treasury yield. the price of gold well above $2,000 per ounce, $2,052, to be precise. bit coyne holding around $44,00. the price of oil, low 70s. not much change, 73.56. nat gas, i never really follow this much, $2.72 at the moment. that seems cheap to maine the average a price for a gallon of regular gas, $3.08, is your price. diesel, no change at $3.97. coming up, there's still time to be on the show. i really want your feedback. it's a new year. let me have it. e-mail if us at varneyviewersfox.com. nancy pelosi wants president biden to, quote, get out there and campaign. roll tape. >> well, i think it's time to get out there. we've had our holidays, we've -- the elect -- the campaigns are

beginning now. this is when people will pay attention. stuart: okay. get out there? if i guess she's no fan of the basement strategy. guy benson on that a little late later on. one of the world's biggest supermarket chains taking pepsi off the shelves saying their price increases are unacceptabling. that report is next. ♪ ♪ valerie, call on me. ♪ call on me, valerie. ♪ call on me, valerie. ♪ call on me ♪ (man) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently?

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stuart: let's call it a turn the around, why not? dow down only 18, but the nasdaq is up 20, and the s&p is up -- 7 points. a complete reversal from a couple of hours ago. one of the world's largest supermarket chains dropping pepsi products from store shelves in some european companies. lydia hu right next to me.

what's the problem? if. >> reporter: the prices. the stores are saying your prices, pep if city, have gone up -- pepsi have gone up too high, too fast. we're talking about a grocery store chain that's a big standoff between them and pepsi because they're taking off a products like these that customers search for. pepsi, cheetos, lay's, even lipton teas are going to be take thing off the shelves. can you imagine going to the grocery store and not seeing your lipton tea? stuart: no p i can't see that happening in america. >> reporter: and there are thousands of these grocery stores across spain, france, italy, belgium. instead of these products on the shelves now, you're going to see signs like this on the screen, they're basically saying in protest of the prices, we're taking these off the shelves. we're not going to carry hem for now. they're saying, look, pepsi, your prices have gown up nearly 12% over a year ago. they need to keep up with inflation, but when you look at

the earnings reports, they're expected to see more growth for all of 2023, it's projected they had a growth of 13%. so the retarials are saying -- retailers are saying something doesn't add up. we talked to a retailer here in new york city to get his reaction. this is what he's seeing. listen here. >> we can't really dictate the kohs that we have to pay these manufacturers. unfortunately, we have to pass on the costs to our customers in the retail prices. but what we have done and other retailers have done is introduced more variety into our stores and give customers more options. >> reporter: so he's basically saying we try to respect the customers, we want them to decide what is too much to pay. clearly, pepsi is seeing growth, but retailers are calling it out and saying you're basically banking on your customer to keep coming back. and we're seeing other companies that are doing this too. monday less, they've hiked their prices up so much, and they're

still seeing tremendous sales because people want their oreos. stuart: that's over there. the pepsi stuff comes off the shelfs in europe, not here. >> reporter: right. tiewfort. stuart: stuart i can't imagine taking doritos off the shelves here in the united states. i can't see that. >> reporter: but they are seeing people rotate to other products. they are trading down, hooking for some variety. he doesn't know if it's going to last, but with you're right, prices are not.com coming down. stuart: tree toes are are all right. >> reporter: you want to open them? stuart further no, not now. [laughter] lydia, thank you very much. look at today's jobs number on your screen, 216,000 new jobs added to the economy. 3.7%, that is a low unemployment rate. peter morici joins me now. peter, that is a strong report. that is a strong economy. are you going to give me an argument on that? >> not at all, no. i mean, we've been hearing a little bit about jolts coming down a bit, but the job openings still well exceed what was out there the before covid. there still is a worker

shortage. the job market might not be as strong is as it was six months ago. it's not red hot, but it's hot new. and i don't think that boar -- that we're going to see wage pressures go away because of this. this notion of all of a sudden it's a buyer's market i think is a bit delusional. if you ask individual businesses how's your business, they say, pretty good. if you ask pep if city how it is, i'm going to rise my prices. if you ask them about the macro economy, they're too busy reading economists who are at universities and in wall street and so forth who are using models based on pre-covid times and saying, oh, the world is coming to an end. it is not coming to an end. it's just slowing down a little bit. stuart: and the fed is probably not going to lower rates, but you've got a strong report like this, anytime soon. agreed? >> yes. and wait til you see what the treasury does this quarter. see, last quarter their borrowing requirements went down. now they're going up again. and you wait until you see what

that does to the 10-year treasury rate. they've been stacking their purchases in the third quarter more towards 2-year bonds to try to take pressure off the 10-year treasury. they'll be running out of options in that regard. if have you noticed how the 2-year price rate has stayed high? my feeling is that we're looking at a period where the market starts to do system -- some of the fed's work for it again9 and the fed won't want to upset that very much. not with jobs numbers like these. goolsbee just can't say, gee, we've got to do something unless the economy will tank. stuart: nancy pelosi's stock trades saw a 65% return last year. this comes as congress has stalled talks on banning lawmakers from trading stocks. do you think there should be a ban, peter? >> well, i think congressmen and women should not be trading in individual stocks and so forth. they're involved in too many regulatory activities that have a consequence for their holdings.

my feeling is they should be in index funds, and those should be put aside in a way that they don't touch them. you've got the problem in that she's got a souse spouse, should spouses be limited. it's a very tough question. stuart: how about immediate full december closure? when any member of congress makes any trade, you can see where they've bought, why they've bought and how much they've bought. what's wrong with that? >> i like that very much. it's kind of like corporate disclosures, what are the principals doing? why not? i really get a kick out of this. the democrats despise capitalis- [laughter] but if you start to threaten "the new york times"' intellectual property, it sues a nonprofit like chatgpt. and, nancy, goodness, nancy, don't you really -- shouldn't you really be a republican with stock holdings like that? stuart: 65% return is pretty good finish. >> well, she likes leveraged positions. if you're buying the options market, you know what happens. when it goes up, you really go

up. stuart: she plaid it right, that's a fact. peter morici, you're all right. see you again soon. >> take care. stuart: okay. coming up, the president has a new campaign strategy, attack trump about january the 6th. attack on guns and race. attack on abortion. after three years in office, you know, that's a thin list of issues for a presidential campaign. that will be my take, top of the hour. jeff flock made it, he hit the road in an electric vehicle. he drove from chicago to new york, and he's here in new york on the set with me to give details of his trip including why it took hours longer than expected. flock is next. ♪ -- all night long. ♪ if you're going my way, i'm wanna drive it all night long ♪ , now earns 5% apy. 5% apy? that's new! yup, that's how you business differently.

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hi, i'm kevin, and i've lost 152 pounds on golo.

(uplifting music) my biggest concern when i started golo was food. i'm a big guy and, shockingly, i like to eat. i was worried it was gonna be like other diets that were bland and restrictive. but with golo, my meals are great, and i'm no longer hungry like i was before. i'm so pleased i gave golo a shot. don't wait, go to golo.com. stuart: ah, yes, we watched as jeff flock took a road trip in an electric vehicle. he started in chicago and made it to new york. what's his prize? he gets to sit next to me this morning, and here he is. [laughter] i want to know how long it took for the 80-mile trip and what -- 800-mile trip and what problems you met. >> reporter: of course you are, because you're such a fan of electric vehicles. stuart: i'm not a fan. >> reporter: oh, my god. it wasn't so bad.

stuart: get on with it. [laughter] >> we had five cameras. electrics are fun to drive, but you better do your homework before you get on the road. take a look. ♪ ♪ >> reporter: chicago to new york in an ev. according to tesla's routeing, it should take 16 hours compared to a gas car which would be about 13.5. here's a key, but first the matter of getting it started. doesn't tell you what to do with it. do you have any idea what we do here? if it was already on. stuart: you're supposed to arrive in new york on friday. do you think you're going to make it on time? [laughter] >> reporter: fingers crossed. then a quick good-bye to the family -- bye, kiddo. >> bye, love you with. >> reporter: bye, baby. off we go. our first charging stop, elkhart, indiana, we traveled 112 miles. the battery was supposed to take us 219. backing up skills required, by

the way, to access the rear port. >> you're not good at backing up? >> reporter: well, i'm flood at it, i just crash into people. [laughter] ♪ >> reporter: a half hour later we're back on the open road. charging stop number two in ohio. according to the car, the battery should have taken us 205 miles, but we had only gotten 127. ♪ >> reporter: we stopped for the night in ohio not far from cleveland. the morning offered a chilling surprise. so last night when we parked the car, we had 38 miles remaining. this morning -- didn't do anything overnight -- 15 miles remaining. the tesla software routed us to the nearest supercharger in sheffield, ohio. gosh, we could have got another 15 feet. stopping off in gerard, ohio,

for our second charge of the day, at this point we'd traveled 87 miles since our last charge, that's 46 miles less than anticipated. ♪ >> reporter: with the battery charged, we headed back to the highway. three more stops to juice up the car, only getting between 58-69% of the mileage that the car had estimated each time. after two days and 808 miles of roads with next to no traffic, we reached new york city in just under 17 hours of driving plus charging. about an hour longer than the car had estimated but three and a half hours longer than a gas car would have taken. oh. well, that was a ride. as jim farley put it, it's a very valuable reality check. ♪ stuart: yeah, he's back sitting next to me. just a couple of real fast questions. how long did it take you to recharge?

jr. 15-20 minutes at a supercharger. stuart: that's manageable. >> reporter: yes. stuart: why did the battery drain down overnight? >> reporter: cold. it has to keep the battery warm, so it takes some power -- stuart: i'm afraid we're out of time. sorry, jeff. welcome back. more "varney" after this. ♪ managing your diabetes just got easier. the powerful, new dexcom g7 lets you see your numbers on your watch and phone ..