[laughter] >> don't film this. >> all the drunken spending down in d.c., i am shocked the biden administration hasn't hired this woman -- [laughter] flown her down to 1600 pennsylvania we've to -- avenue to find out how we can keep our weekend at bernie's president from tumbling down one more time. cheryl: if it's on tiktok, it's got to be true. [laughter] >> waddle, waddle. cheryl: all right. let's take a quick look at futures before we hand it over to stu varney who's probably thinking, please, give me a market check before you toss to me. here is the dow up 178, s&p is up 20. rebecca, we're loving this market. >> yes. yeah, we are. and i hope it's a green day. yesterday was a great day, it'll be great to have a green day. cheryl: and to the bitcoin today, guys, thank you so much. joe pena, rebecca walser. i'm going to send it over to

stuart varney, he's take it away. stuart: here i am. good morning, cheryl, and good morning, everyone. just for a change, we're going to lead the show with the market headline, the big tech rally rolls on. look at. nvidia at another high. that's in premarket trading this morning. microsoft is closing in on $400 a share. it's now about $100 billion more valuable than apple. amazon, google also gaining ground. again, a.i. is powering all of it. look at those gains premarket for all those big tech companies. the big tech rally is pushing all the averages higher. the dow up maybe 170-200 points at the open, nasdaq up another 100 points. interest rates, they're staying at what i would call elevated levels. the 10-year is around 4.15 right there, right now. last week it was below 4%. the 2-year right now about 4.36. where are we? 4.37, going up some more. bitcoin, that's down. last time we checked it was at 41,000 and change, it's still

there. 41,3 right now. politics, a relaxed donald trump appeared with sean sean hannity last night. he won iowa in a land side, he's speeding by double digits in new hampshire, and a poll shows he has an 11-point lead among independents over president biden. if biden, however, has made yet another gaffe. he was confused about who he was meeting with, and he got his facts wrong with. he said everybody's getting better off. we are not. speculation about nikki haley's viability. mega-donor ken langone says he will hold off on a big gift to her until he sees what happens in new hampshire. if haley loses by double digits there and if the polls are right in south carolina, it's hard to see a path forward for her. on the show today, a podcast about a the bible. goes to the top of apple's charts. church attendance down, but the bible recap podcast, that's doing just fine. friday, january the 19th, 2024,

"varney & company" is about to begin. ♪ ♪ ♪ stuart: all right. let's start this morning with a look at the 2024 race. [laughter] ♪ stuart: a little late on the -- lauren: we just had a party in here. [laughter] ♪ stuart: okay. we're trying to get to a good start here. a decentered midtown manhattan -- decentered -- yet again. lauren: and the snow. again. stuart: we're going to start with a look at the 2024 race. trump once again beating biden in a head to head matchup. he leads by 4 points. what else do we get from this poll? lauren: he beats biden by 11 points among if independents. here's donald trump talking about that with hannity last

night. >> he can't put two sentences together. he can't find the stairs off a stage, which there are a lot of them up there, believe me. they're all over the place. he can't find his way off a stage when he makes a very short speech, and it has to be the short because it can't be long. he can't negotiate -- biden is a threat to democracy. he's an absolute threat to democracy. he's very dangerous for a couple of reasons. number one, he's grossly incompetent. lauren: biden is a threat to democracy. i thought trump was a threat to democracy if you ask the biden administration. he made a point, biden is surrounded by, quote, young commies and marxists that are calling the shots. stuart: that's my generation. that's what we used to say. lauren: coming around again. [laughter] stuart: everything comes -- lauren: they're in the white house. stuart: my bell bottoms will come back -- lauren: they are already! stuart: why the average republican voter hates the gop

but loves trump, batya ungar-sargon wrote that, and she joins me now. make your case. >> thank you so much for having me. good morning to you and all of your view ors. look, we like to think about this country as if the most salient feature about a it is the political divide. this is actually nonsense. the real divide in this country is between the working class and the elites. , and now that maps to democrats versus republicans when you look at the hecht rate. the democrats' base is the college-educated voter whereas the vast majority of americans who are working class now vote for the gop. here's the problem, stuart. the problem is that the within the gop there is a huge class divide between the donor if class and the voter base. the voters hate the gop as it was before trump. they hate the free market chamber of commerce, foreign war iteration of it.

they associate that with markets that do not work for the working class. what they want is the agenda that donald trump offers, a closed border, no more foreign wars, a trade war with china, no more nafta, no more free trade or free markets, but they want with somebody who's going to champion the little guy, champion the working american, the hard working american against the people in power. and, unfortunately, the donor class only wants tax cuts. they like these foreign interventions, and they are very well represented by nikki haley. that's really what we're see anything this primary if play out -- seeing in this primary play out, the divide between the republican doe -- donor class and the republican vote or base who are solidly in the camp for trump. stuart: the i just want to move on to president biden's performance. begun yesterday he had another gaffe while he was in north carolina. he looks so confused. just watch this, please. roll tape. >> i also want to mention congress -- deborah rah ross. ing where's deborah?

i just had my picture taken with her. that's probably why she left. [laughter] no, all kidding aside, but anyway -- oh, she couldn't be here, actually. that's not true. i got mixed up. and she, you know, she fights very hard for people in this district. she's up in washington right now. stuart: bath ya with, i've said this so many times, i just can't imagine if president biden holding the presidency for move five more years. what do you say? >> so hard to watch. stuart: yes. >> i mean, i think every human feels so sorry for him. stuart: yes. >> like, this display, how could they do this to a person? i do have to say it's hard to watch, but also to me these gaffes are a lot like trump's tweets. if the policy was good, if we didn't have a wide open border, if the world wasn't falling to pieces because of a lack of leadership, if the working class was rising due to good policies and a good economy, if inflation wasn't through the roof, none of this would matter, stuart,

right? we wouldn't care about this so much. we care about a it because the country's falling apart. stuart: yes. especially we care about it because we might have a president harris, and that would not be popular. batya, thank you very much for joining us. >> thank you. stuart: lauren, what's the latest on trump's appeal to the colorado decision to kick him off the ballot? lauren: his attorneys are asking the supreme court to reverse the colorado supreme court's decision. they say two things; a, 14th amendment doesn't apply to presidents and, two, trump did not participate in an insurrection. obviously, he wants to be on colorado's ballot. their primary is tuesday, march 59, which is super tuesday. the high court will hear arguments february the 8th. so there's not much time between then and march 5th, and three of the nine justices hearing the case are trump appointees. look, if scotus does not rule in trump's favor, they set this tit for tat precedent that could

disqualify future candidates. 30 other states have tried to kick him off the ball old. stuart: the more you try, the more support trump gets. lauren: yeah. stuart: check those markets, please. it's friday morning. plenty of green on the left-hand side of the screen. dow up 170. solid gain up for the nasdaq, up another 113 points. kenny polcari with us today. all right, kenny, another big tech rally. how much is a.i. contributing to that big tech rally? >> a.i. is the big tech rally, right? you saw that, we've seen that over the last eight or nine weeks, we saw that with taiwan semi, they came out with that the announcement the other day about a solid quarter, about what they're going to do in terms of providing chips to nvidia and all the other ones that are right in the middle of the a.i. boom. and, look, a.i.'s not going wee. you saw everything that happened in the world economic forum in term des of where a.i.'s going, everything everyone has to be worried about. a.i.'s here's to -- here to

stay, but it is behind this rally that we're seeing. stuart: but i want to see the results of a.i. in the companies, in the big tech companies, and we'll see those results over the next couple of weeks. >> right. tooth think i think this goes as farah as a.i. is contributing to serious profit gains for big tech. what say you? >> well, that's true, but i think you have to look just beyond what the forward guy dance is. you have to think outside the box and think really ahead. what's in it for the rest of the year, for next year? welcomed this go? that's -- where could this go? they can't necessarily say that in an earnings report, but they can certainly point to. almost every company out there is using a.i. in some form or another. stuart: have you got a top a.i. pick? >> so i have a couple, but the one i'll tell you about is my c3.ai, right? because they help these companies allocate a.i. across enterprise solutions, right across the board.

so many different ways to play it. it's relatively cheap, $24. you know, i've owned it for a while, i owned out down in the low 20s, it's traded up to 35. i think this is going to be one of those names that should be part of a portfolio. stuart: any other? >> well, listen, we could talk about a bunch of them. we could talk about apple, nvidia, amb -- amd, but if you wanted one, that would be my one pick. i own all of them. ubm, which i think -- ibm, which i think is underappreciated in terms of where they are in terms of a.i., i think that's going to be a surprise for a lot of people, and i own that one as well. stuart: so you own the group of a a.i. stocks. you have no intention of selling them this year, do you? what would make you sell them? >> i am not -- no, no, no. stuart: what would make you sell? >> i am not selling. stuart: what would make you sell? >> listen, the only thing that would make me sell sell is if suddenly the story fundamentally

changes to the negative, but i don't see that happening. therefore, at the moment it's not in my sell is column, right? if anything, it's in my accumlate column on any pullback. stuart: interesting. kenny, have a great weekend, please. and we'll see you next week. >> you as well. bye-bye. stuart: coming up, a new poll shows a majority of voters want biden to be investigated or impeached. but, look, if he's impeached, that would leave us with president harris. i already know that tammy bruce is fired up about this. she's going to be here just a little later. the hunter biden will sit for a closed door deposition next month. so what's the first question judiciary chair jim jordan wants answered? if he's going to be here, and he'll tell us. and there's this, congress is making some of the biggest decisions in years about how to spend your tax dollars. are we going to see any tax cuts? a report on that next. ♪ ♪ i need dollar, dollar, that dollar is what i need ♪

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stuart: the house ways and means committee is preparing a tax bill that could renew some trump era tax cuts. chad pergram on capitol hill. chad, are are the tax cuts, the trump tax cuts, are they going to be made permanent? >> reporter: stuart, good morning. this package has a long way to go, frankly, with the ways and means committee meeting now to prep the plan. it renews the trump tax cuts for businesses. some democrats are onboard because the plan enhances a tax credit for parents. >> we have to come up with how it's paid because it's so critical. it's so critical to so many american working families to have this kind of support, and it's been, actually been proven

to help reduce child poverty rates. it's a great way to address this issue and support american families. >> reporter: but it's unclear if all democrats like it. senate majority leader chuck schumer is all in, but that's not the case with house minority leader hakeem jeffries. >> the child tax credit provisions do not go as far as they should relative to what president biden and democrats were successfully able to do in terms of the child tax credit that was in the american rescue plan. >> reporter: however, it's unclear what the package means for the debt. that's why republicans advocate the debt commission to study ways to bring down the debt. >> well, i support the idea of a fiscal commission, and i know we've had others that have failed miserably, but i think we can learn from the failures of

the past and make another stab at this. >> reporter: now, the debt is now more than 34 trillion. the congressional budget office says the budget deficit is $87 billion higher than the same period last year. stuart? stuart: those are big numbers. chad, thanks very much, indeed. a member of the house ways and means committee, congressman greg steube, joins me now. congressman -- [laughter] >> >> good morning. stuart: i'll can ask the big picture question. are we going to get any tax cuts in the final deal? >> yeah, i think so. we're mark it up right now. it has bipartisan support. there's things like my disaster relief for areas in the country that were hit with natural disasters over the last couple of years like my district, hurricane ian, a year and a halfal. -- ago. i believe that the ranking member also supports it. our chairman has been negotiating this deal with senatorwinden in the senate, so -- senator widen in the senate. it'll be ready for the floor, we

anticipate the following week, not next week, but the week after we'll have floor consideration and send it to the senate. stuart: well, that's a positive story, and i'm glad we've got it today. thank you very much, congressman. now, president biden was asked about airstrikes against the houthis. listen to what he he had to say. roll tape. >> reporter: are the airstrikes in yemen working? if. >> when you say working, are they stopping the houthis? no. are they going to continue? yes. stuart: congressman,s it seems to have the feel of another endless war. what say you? >> well, this is all happening because the biden administration is giving money to iran, they're not putting the houthis on the fto, foreign terrorist organization, list. the trump administration had the houthis listed as a foreign terrorist organization, and the biden administration if quickly, after a getting into office, took them off. why would you do that? and it has a lot of implications worldwide when you designate them as terrorist organizations.

they allow $6 billion to go to the iranians who fund the houthis, hezbollah and hamas. this administration also gave millions of dollars to hamas right before they attacked israel. so you have an administration who's emboldening them through their policies and giving them money when we should be standing strong for the american people and against terrorism across the world. stuart: it's not going away, is it? >> no. stuart: they keep attacking, we keep responding. that's not quite a permanent war, but it's going to go on for a very long time. i mean, do you approve of that? >> no. we need to strike hard, and if we financially went after iran and all these other terrorist organizations, you wouldn't be seeing this. you didn't see any of this under the trump administration because he stood strong with the american people. and when you have strength coming from america, you don't have to fill the voids with other countries. since biden's been in office we've had service members in iraq, a hundred different strikes, 60 of them have been injured, and there's no strong response from this white house which is why it keeps happening. stuart: you're calling on governor desantis to get back to florida and, quote, do the

job floridians elected him to do, end quote. should desantis and haley drop out now? >> yeah. i don't understand why desantis is still in the if race at this point. we are in our legislative session in florida that's only 60 days throughout the year, and he's been in iowa. he came back for a day to do the state of the state speech, then he went back to iowa. this is the most important time for florida through the law making process with the legislature in session. trump won by 30 plus points in iowa, he looks like he's winning 30 plus points in new hampshire. we'll see next week. and he's polling ahead in south carolina as well. it's time to get behind our nominee. stuart: 20 seconds. would you have any advice for president donald trump on who his vice president should be? [laughter] >> no, or i think i'll stay out of that debate. from what i've heard, he's already decided who that's going to be. stuart: do you have any idea who out might be? >> no, i've heard a whole bunch of different names, and i don't want to speculate. stuart: i don't blame you.

congressman greg steube, thank you very much for joining us. >> anytime. stuart: governor desantis says he regrets part of his early campaign strategy. which participant? lauren: not doing enough interviews with the media. >> when i came in not really doing as much media, i should have just been balloon iting. -- blanketing. i should have gone on all the corporate shows, on everything. i started doing that as we got into the end of the summer and we did it, but we had an opportunity, i think, to come out of gate and do that and reach a much broader vote. lauren: he is now. he was willing to debate empty chairs in new hampshire after nikki haley pulled out of the debate because trump wasn't in it, remember? so that debate was canceled. i think nikki haley should have done the debate. she's in second gear in new hampshire. they want to see you there. they want to shake hands -- stuart: i still believe if she loses by more than 10 points to trump and if the polls in south carolina are right, nikki haley is very close to being out.

lauren: and we have our nominee before super tuesday. stuart: yep. thanks, lauren. check the market, please, seven minutes to go before the opening bell. dow's up 10 to -- 100, nasdaq's up 108. the opening bell is next, and we'll talk you there. ♪ ♪

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stuart: with three minutes to go before the opening bell, and the market's going to be higher at the opening bell, we bring in mark mahaney with good investment ideas. all right, mark, welcome back. you cover spotify, i believe you do, at least. they can't make a profit. what's the problem? >> okay. well, it's a, it's your -- it's a very consolidated supplier base. there are three major labels worldwide, and so you're trying to skim money away from those labels. it's a very powerful group there, so that's always been a challenge for spot final. if i think -- spot final. i think they're on the cusp of finally reaching -- this is kind of like uber a year and a half if ago when these companies kind of fight and claw, get their way

to operating income, there's a real sentiment change on the stock and i think kind of anticipation of that is what caused spotify to do so well last year. i continue to like it here. it's a relatively small buy, but it's showing more and more ability to report sustained profitability. stuart: we've got a big tech rally in progress or what looks like it again today. meta, google, amazon. can all of those three move higher from here? >> yes, but i think amazon's really your best buy. you've got three fundamental catalysts, this cloud computing segment i think shirts this year. i think they hit -- accelerates this year. i think they hit record high free cash flow margins. and hen you get those kind of records in terms of margins and they go up, they generate more free cash flow, i think the stocks do what i recall roadway -- call rerating, so amazon's our number one pick. stuart: i'm told meta is going

to boost its a.i. content or whatever -- >> yes. stuart: boost their a.i. usage. that's a big plus, i would think. >> i think it is. you know, people always look for these infrastructure ways like how do i buy, how do i play artificial intelligence. should i buy nvidia because they're at the chip layer, microsoft is at the infrastructure layer. i've got a great company that's at the application layer, and i think that's meta. they've used artificial intelligence to dramatically improve their ad targeting stack, and then also their user experience. and now the most interesting thing i'm seeing out of them and out of google too is they're using artificial intelligence to automatically create marketing campaigns for small businesses. they will create automatically without human interference -- well, there's human interference in the algorithm, but they will create video campaigns for small businesses. small businesses never kid this before. -- did this before. i think it's a wonderful deemployment of artificial intelligence, i like meta. stuart: got it. mark mahaney, have a great

weekend. >> you too, stuart. stuart: thank you. it's 9:30 eastern, that means the market is open. we are opening up in the green, dow up one-third of 1% at this point, 119 points. it's an even split, winners and losers, just with about dead even there, but the dow is up 120 points as we speak. the s&p 500 also higher, i believe. yes, it is. again, about a third of 1%. if 4,795 is your level. the nasdaq composite, i'm looking for a solid gain there, up one-half percentage point, 75 points. show me big tech. i presume they're all up this morning, continuing yesterday's rally. yes, they are. meta, 3. 8. apple, 189. microsoft at 395, very close to breaking to 400, and amazon, 153. and then we have mark zuckerberg. he wants to ramp up metaa's a.i. as we just were talking with mark mahaney. what's the plan for that? lauren: he wants meta to be a key customer for nvidia.

they're spending approximately $9 billion this year on 350,000 gpus from nvidia, the h of -- h-100, the newest chip, and zuckerberg says a.i. will be metaa's biggest investment this year. their chat bot, their image generation, they're using other chips, they have rayban sunglasses that actually look normal that can send text messages and stream video for you? stuart: this thing? lauren: yeah. they only cost $300. stuart: what is this? the ever shrinking macy's? what are they doing now? lauren: if you're going to maintain a huge department store and many of them, customers need to go in and find what they need. you go into a store usually when you can't find something online and you want to get help. and this is -- retail is suffering because the stores aren't offering an option to shoppers. so macy's is cutting more than 2300 workers, 3.5% of staff, ask and closing five stores this

year. they're just reorganizing totally. they face activist pressure. shoppers want smaller stores. they want a better online experience, so their putting some of their money in online investments or digital investments. and if you look, it's, what, muddle of january, 2024, there have been so many layoffs. 7700 in tech, but you can add macy's to that, duolingo, citigroup. just like you have a soft landing that it seems to be everybody's betting on, if people are losing their jobs and this pace of job cuts continues throughout the year, can we still have a soft landing? stuart: good question. then we've got walmart. i know they're raising pay for some workers. i don't know, which workers are getting a pay raise, and how much are they getting? lauren: store managers. their salaries go up 9%. so they'll average $128,000 a year, but then comes the bonus. and it's being tied to store performance. if you meet all of your targets, you can basically double your bonus. so that's great for the store managers, right?

stuart: i'd say. lauren: the workers are getting an average of $18 an hour. stuart: that's not bad. the stock at 162 there for walmart. look at ford. there's problems in the electric vehicle market, aren't there? and ford shows it. lauren: okay. so the f-150 lightning, the all-electric version of the uber-popular f-150, they sold 24,000 of them last year. they wanted to sell 150,000. i mean, exactly. ouch. stuart: that hurt. lauren: so now they're cutting production of the lightning. that affects 1400 workers. but the pivot, they're increasing production of the bronco suv and the ranger pickup, and they're adding 900 jobs there. it's another pivot to where the market is. stuart: yeah. back to gasoline. [laughter] that's the way it is. roomba maker, how do you pronounce that? lauren: you did it right. stuart: irobot. what's happening? they're down 28%. lauren: well, amazon's trying to buy them, and the "wall street

journal" is saying antitrust authorities in the european union are saying we're not into this. it was a $1.7 billion purchase. they think if amazon is selling roombas, they give them special treatment on the web site, and that's bad for competition. apparently, amazon is not offering any concessions to get this deal through. but, look, again europe goes after our big tech. stuart: yes. lauren: do you remember last month adobe scrapped their $20 billion offer for a design software company because the e.u. was giving them trouble pushing it through. stuart: drives me nuts when europeans bear fear in american -- interfear in american business. they can't do anything like tha- lauren: we're making it hard too because the ftc isn't saying, go on, merge, buy all these companies, they're giving the companies a hard time too -- stuart: europe is a giant museum. okay, here's a good question, how much money died jamie dimon make last near -- jamie dimon if make last year?

lauren: $36 million. look, this guy deserves it. he deserves it. his salary was $1.5 million, and then he got 34.5 performance-based incentive compensation. incentive compensation. what was the story that we did last week? jpmorgan reported the biggest annual profit in the history of u.s. banking. nearly $50 billion. incentive compensation. he pushed jpmorgan shares up almost 30% last year, more than any other bank. stuart: i'm with you. lauren he's an icon on wall street. he's been ceo for 18 years. he's 67, and they want him to keep going, and he says i'll go as long as i have that vigor. stuart: i dare you to call up senator elizabeth warren and say do you think jamie dimon deserves 34 million? lauren: she already -- stuart: she's not happy. [laughter] it's got the friday feedback, doesn't it? lauren: i say so. stuart: a gain for the dow, 75 points. a little less than it was at the

opening bell, but we're at 37,5. dow winners, please. that list is headed by travelers, ibm, mcdonald's, american express. the s&p 500 winners, this is a chance to check all your stocks for most people. if you're in the market, you've got a piece of some of these stocks. travel rester are, state street -- travelers, state street. nasdaq, texas instruments, amd -- lauren: good week for amd. stuart: they went straight up. applied materials and qualcomm. the 10-yearing treasury yield, this is interesting, big tech is up and so is the yield on 10-year treasuries. interesting. 4.16 on the 10-year right now. where's the price of gold? still below $2100. 2,032. bitcoin's down a bit; $41,000 is the range there. just at 41,000. the price of owl edging a little higher, $74 a barrel today. nat if gas with all this cold weather, you'd think maybe it would be up. no, it's not, we're down -- it's down 3%.

lauren: we're swimming in it. stuart: fracking works when you're allowed to do it. diesel, the average price is crush 3.92 per gallon. coming up, yes, it is friday, so don't forget to is send in your friday feedback. i can take the good, the bad, even the ugly. yes, i can. yes, i can. e-mail varneyviewersfox.com. look at this, "the wall street journal" editorial board says this: adam schiff's telltale 2402024 agenda -- 2024 agenda. it's a radical plan. his vision for the future is, frankly, a nightmare. our california guy, steve hilton, takes it on. house republicans demand answers to alleged surveillance by federal investigators. it's raising the questions how often to do banks hand over customer information, and people do anything about it? our report is next. ♪ i keep looking, i keep looking for -- ♪ i keep looking for something more.

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stuart: on the market after 12 minutes' worth of business, the gains have been modified significantly. the dow though is still up 4, the nasdaq's up 50. dow is still up 44. nvidia and microsoft hitting all-time highs, microsoft, 394. nvidia, 575. the house judiciary committee claims federal investigators instructed banks to search through private customer transactions for words like maga and trump. kelly o'grady's with us. tell me, is this a one-off, or do banks share customer, private customer information frequently? >> reporter: so, stuart, they do share public information pretty often. private, though, is more rare. we took a look at what you agree to when becoming a customer, because i'm sure you probably didn't read that whole

disclosure. to bank or get a loan, you need to share a significant amount of data, social security number, your income, very sensitive personal information. banks, though, they also get access to your spending habits, browsing activity. most of the time that's used to detect fraud, but they can legally share it. so under the graham leech bliley act, they can share less sensitive data with marketers or advertisers, for example. now, banks are required to inform you about this. you'll see in a second a list of industry standard privacy disclosures. this one's there if bank of america. now, the catch is you don't wan, rather, certain input to be shared, you have to proactively opt out of it. sometimes you can, for example, government agencies can subpoena information that they deem necessary for investigation. the doj web site says this, quote: a federal agency may obtain financial information about you without advance notice

or your consent. in most of these cases, underline most, the federal agency will be required to go to court to get permission to obtain your records. we reached out for clarification, we haven't is heard back, but security experts tell us government agencies have a lot of leeway over data collection. >> government is the to data -- access to data, or you know, there's less watching of that. the drivers being law enforcement or anti-terrorist sort of almost insulates it a little bit from a lot of scrutiny as to what goes on. >> reporter: but, stuart, trusting the government with your data can be a tall order. back to you. stuart: kelly, thanks very much, indeed. the story on the financial market this morning is the big tech rally. take a look at it, we've lost it. big rally yesterday but a moderating big tech rally this morning. meta, though, is up $6. dory wiley with me this morning. you're the man with the accent. welcome back. always good to see you and hear you, by the way. how far can this a. i.-led rally

go for big tech? >> well, it could go a lot further, stuart. good to be here. if you look at the last 30 years what's been the story of the market? a consistent underpricing of technology and big tech. even though it's always been highly valued. and that's been the blind spot in the market. and i suspect that's combining to go forward -- that's going to go forward even more so possibly with a.i. and so as these big tech companies come out over the next couple weeks with their earnings, they're driving the market, they're driving everything. the rest of the s&p, if you look at it, have earnings revisions down while big tech is having -- can excluding tesla, the big seven are having earnings revisions up. so as big tech goes, that's going to drive a lot of things. stuart: how much of your portfolio should be in a.i. stocks? >> well, if you look at active managers on an institutional basis, they consistently underallocated the magnificent

seven. and i was on your show before and i said that's where with i think people are making a mistake. you have to at least maintain that allocation. and what you can do is overweight and underweight here. and so, obviously, you could underweight tesla and overweight something like a microsoft or nvidia and have more a.i. exposure, more fundamental exposure, if you will, on the upside. stuart: but your position now would be expand your holdings of a.i.-led big tech, right? expand it into the year, or correct? >> i would overweight, i would overweight a.i., and i like fundamentals. so i love moth and apple -- microsoft and apple and amazon. and nvidia is fundamentally set to really continue taking off. stuart, they -- that stock was up over 200% last year, and that makes most investors on a value basis, which is what i am a, kind of worried that they're growing earnings per share at 50% a quarter. and the things that they're doing going forward, new

products coming out in a.i. and how they're inflewsing -- influencing drugs and police officering plant building and everything in the industry is amazing. stuart: but it scares an investor like me when you see a stock go straight up to buy it at what is now a new high for nvidia. 580 right now, i think that's a new high. it stakes a strong stomach a for an investor to jump in at 585. but you'd still do it, right, dory? >> you've got to remember, i'm a core bank with investor, so it's very difficult for me. but i think anyone who manages money last year had to learn that lesson. you cannot -- you underweight big tech at your own risk and nvidia too. that doesn't mean that it can't fall, but its has good fundamentals. you just have to do your work and look at it. stuart: all right, got it. dory wiley, thanks very much. i know we'll see you again soon, thank you. >> you're welcome. stuart: biden is forgiving more student loan debt. [laughter] how much more this time? lauren: $4.9 billion for more

than 73,000 borrowers. so you have to meet criteria, but the bulk will go to those who have worked in public service for over a decade, the rest for those in income-driven repayment plans. so so far the president has canceled $136 billion in student debt for 3.7 million borrowers. he said he wanted to cancel it for everybody, $400 billion of forgiveness, but that's what we've got so far. stuart: that's vote buying. lauren: yeah. he needs to mobilize young people. so if he can do a little here, a little there, maybe you're hopeful your $9,000 in debt can will be forgiven too. stuart: i'm moving on. coming up, as i read it, trump had a very good week. biden had a very difficult week again. that's my take at the top of the hour. denver's main hospital system is in deep trouble. why? if because they treated 8,000 migrants who cannot pay their bill with. our report after this.

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stuart: how to you run a hospital system when you have thousands of migrants coming in for free health care? if denver has reached a critical point. lydia hu's with me. she has the story. how many migrants are showing up at hospitals in denver? >> reporter: the hospital has counted around 8,000 migrants, but they're responsible for roughly 20,000 visits. we're talking about denver health. it's the city's public safety net hospital. so anyone can go there regardless of their ability to pay. take a look at this. in 2022 hospital accumulated roughly $120 million worth of services that were not paid. but then last year unpaid care grew by about $15 million at the same time the city saw its migrant population swelling. so hospital executives say the hospital's operating at a near break-even pace, and the migrant crisis is adding strain. >> the migrants have been using denver health as their primary

care location. so even when they settle in and there's no more cost to the city, there's going to be a cost to denver health because they need ongoing health care. our emergency room is frequently full, and we have to divert patients. i think the real tragedy is they often just don't get care anywhere. >> reporter: now the hospital is calling for more support from the federal government. enter we also need federal support in the meantime, most especially around the health care costs. >> yeah. >> you know, our staff are being asked to step up, see extra patients. >> reporter: and, stuart, here's the thing, denver is not alone. cook county health? chicago reportedly seeing more than 1 million health care visits in a year, and it recorded an additional 811,000 visits involving -- 81,000 visits involving migrants, an 8% increase there, and more than 170,000 migrants have passed through new york city's system. the city's public health hospital system footing a growing bill, spending an estimated $592 million on

migrant services from july through just october. stuart: it's incredible. >> reporter: of last year. that's exactly right. so the mayors of denver, chicago and new york city and new york governor kathy hochul, they've all called on the federal government for more support. that's taxpayer dollar, all of us footing the bill. stuart: that's an extraordinary thing. nearly $600 to million in three months for new york health services. >> reporter: that's right. lauren: the border crisis has become an economic crisis. stuart: it sure has. still ahead, trump seems to be changing his tone, and that seems to be working. tammy bruce on that. u.s. forces conducted strikes on two houthi anti-ship missiles that were being prepared for launch. another forever war? is that what it is? christian whiton has that. hunter biden will sit for a closed door deposition next month. okay. what's the first question house judiciary chair jim jordan wants answered? he's here and i'll ask him. and ken golden has historic

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