ashley: good morning, it's 10:00 eastern, the new york city skyline. i am in today for stuart varney. you may have noticed my red tie today. it is national where red day to help raise awareness of cardiovascular disease among women. if you want to learn more about this, how you can help, visit goreadforwomen.org. wanted to point that out to our viewers. let's get back to the markets if we can. we've seen the dow down 100 points, the s&p coming back a third of one%, the nasdaq turning around, up 127 points or 0. 8% raise. the 10 year treasury yield, big story this morning, it was up

at 3. 99 and is still there is you can see, just very close to 4% on the 10 year treasury yield up more than 11 basis points, the price of oil is down $1.82, $72 even for a barrel of crude and bitcoin earlier in the session was down 248, down 273, 42,726. some more numbers for you. the latest read on consumer confidence. the number? lauren: final ever for january stronger-than-expected, the number is 79, 2.5 year high. what are we so confident about? inflation expectations looking 5 years out, they stay below 3%. that is positive. expectations in general better

than current economic conditions. feeling optimistic. ashley: thank you very much. i want you to look at this new fox poll that shows donald trump beating president biden georgia, trump is 50% support in the peach state but in wisconsin a different story, biden and trump head to head currently tied at 47%. tammy bruce joins me now. good to see you. what do you make of these two polls? >> thanks for having me. i remind everybody in 2016 trump was behind the entire season, behind on election day. hillary was ahead the entire time in state and national polls. that makes people think they know what the outcome is going to be. considering what has been put

on trump, 91 indictments, all the media against him, the nature of the civil suits, has been a remarkable set of persecutions put on this man and he is still higher in these polls. you can't determine what will happen in the end. on the election day matters in that regard but it tells you the mood of the country, enthusiasm, trajectory. i think this is important to see. it's a reminder not only can trump win and when dealing with an incumbent, 16 was a different dynamic because it was a brand-new election. when an incumbent is in this position it speaks more about biden's weaknesses and the fact that the american people have seen through the nature of what the democratic plan want put chip -- put him in jail or keep him off the ballot and sending the signal that they don't like that and are going to take

control of this country again in november after having been lied to in 2020. ashley: stuart maintained he still does not believe president biden will be the candidate. do you think he will or not? >> i think he will fight to be so. we don't know who is controlling the white house, who is controlling the party in this regard. if they will fight hard enough to remove him and what the alternative would be, i think even seeing that kind of scramble will not help the democrats because it will be an admission that this situation has been a fraud. president biden, they couldn't bring him out of the basement in 2020 so i think the american people, they are deciding and i think anything democrats do will be a hail mary pass. ashley: house committee just voted on legislation to impose term limits for lawmakers limiting the house to three terms, senator two terms four

republicans sided with democrats to kill the bill. they want to hang on. do we need term limits? >> originally i said no. voters determine the limits. but with the way financing works now and so much money and control of media, you don't have an even playing field. what we are seeing in this country as a result of people not necessarily -- banning people from the ballot, having a fair shot of voting who they want to vote for randy outsized impact of lobbyists and media. i think it's not a bad idea. ashley: it was a good idea. thank you as always for being with us today, great stuff, thank you. one democrat senator starting to lose ground against his republican challenger. who are we talking about? lauren: shared brown. hailed a seat since 2007.

the report calls his seat a tossup. he is barely ahead of the three republicans that are trying to unseat him, one of them being the trump backed businessman frank marano. democrats are defending 20 seats, this is one of them. recent polling in ohio, if it were head to head between biden and trump, trump is up 11 points, 47% to biden. >> back to the markets and your money. ryan, you say let's get right to this, the making of a stock bubble is folding, where and explain? >> what we are seeing, the red tie pops today by the way, is -- in set of broadening out,

narrowing into magnificent 7 stocks, not all of them equally but facebook up 20%. that's a huge move, they but out earnings, we saw the same thing with amazon as well, they are up 7% so we are seeing a lot of money funneling into these names. you have 5 stocks making up 25% of the s&p 500. that's insane. we haven't seen that since we had the tech bubble in 99 into 2000. what's going to happen here, what happened in the 90s is you have a lot of money that has to get into the market and it will chase that momentum where the moves have been best, that's what we are seeing starting this year. ashley: big tech names carried the weight for so long, they will lead us down or up. is there any other area of the market you would like to concentrate on? >> i'm like a kid in the candy store when you take out the magnificent seven.

small caps trade at historical low valuation, historically international very cheap. i don't know if these stocks will move right away but if you're out locating to the long-term if you need income for retirement, a lot of dividend out there on lower evaluation companies, the magnificent seven pays little in dividends and doing evaluation based on historically at high, if you go higher and crazier the problem is the bubble bursts and no one will tell you have time. look for the diversification now. don't get seduced. ashley: do you think we have missed, we've gone through a recession, we fear the fed won't cut in march, maybe in may but overall this is an incredibly resilient economy. >> it is mind blowing, no one expected the job number at

350,000 jobs, and a. 3. 7%. i have been calling this the business goldilocks, this is as good as it gets, we know inflation is coming down which means that consumers will have money to spend, tight labor market is not going away, that will drive the us economy first quarter gdp growth estimated to be 4%, news is too good. ashley: great stuff, thanks for being here, cheering me up. i feel good. lauren: i don't share you up? i am smiling to cheer you up also. smile on this one. let me check and see the moves, the new high on meta is $478.30. i mean this is great. profit tripled in the quarter and their ad revenue very strong if you look at price per

ad they are making, 2%. most revenue comes from ad sales and shareholders first-ever dividends $0.50 a share. meta-is a winner. ashley: intel. lauren: they are down 3 and 2 thirds%. /3%. there's a report that they will delay a $20 billion chip manufacturing project in ohio. stuart: what about zoom? gone are the days of working from home. lauren: you have to pay me to get on zoom now. even more to put my camera on. zoom is at 2%, down 10% in this short year. they are cutting 150 workers, 2% of their workforce so add zoom to the tech companies and finance companies that are laying off workers in this environment when the job market is holding up.

ashley: if you're holding a zoom meeting don't expect lauren simonetti. democrats trying to flip the script on crime. they don't want the issue to be a liability in november. we've got that report. the fbi director says chinese hackers are waiting to wreak havoc on critical american infrastructure. are we prepared for this kind of cyber warfare? that's next. ♪ like earning more money on my money as a head chef. ready for service? ♪ bank with sofi to earn a higher apy and an epic welcome bonus. you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪) that's how you business differently. intuit quickbooks.

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ashley: looking at these markets, just about 45 minutes into the session on this friday, the dow up one hundred 23 points but the us and be up 1.3%, nasdaq also up 26 points. now of this.

in less than an hour president biden will attend a dignified transfer of the 3 transfer — service numbers killed in a drone strike enjoyed. grady trouble from capitol hill this morning. any word on how the white house is going to react to the attack? >> reporter: the white house isn't saying how it will hit back, only that it will and more than once. >> we cannot describe to what our response is going to be but we look to hold the people responsible for this accountable. we have the ability to respond a number of times depending on the situation. >> reporter: president biden is getting ready to meet with the set families of the serviceman was killed in the drone strike in jordan. that attack carried out by militants, part of the islamic resistance interact comes as

the houthis continue to pitch ships in the red sea, the republicans say the president needs to do more and sooners. some lawmakers in president biden's own party agree. >> the swiftness of the response is part of the projection of strength we need. >> punching back harder is something i would urge the president to take on in terms of the houthis. as we go to the sheer groups the talk out and killed three of our service members, we need to step up as well. >> reporter: the white house so far has been reluctant to strike irani and soil directly even though iran is the one backing those militant groups attacking ships and military bases, republicans say it is time to think about that and also to do it. ashley: thank you very much. i want to get back to this, fbi

director christopher wray warning chinese hackers are ready to wreak havoc on critical us infrastructure. he said it could cause real-world harm to american citizens and communities. with that said. lee, this sounds ominous. how worried should we be? >> we should be extremely worried. this further underscores that are normally of the china threat to the united states which is not an abstract threat. it's an actual threat china poses in a way no other nation does to the united states, to our citizens and to our homeland and to see what china is doing in terms of cyberwarfare attacking critical infrastructure, putting cyberbombs in our infrastructure, is extremely concerning based on the fact they are able to do this and makes us vulnerable to a

chinese attack. ashley: which begs the question how prepared are we for a cyber attack? >> based on this report we are not that prepared. we are extremely vulnerable. could infrastructure is being infiltrated by china and chinese hackers so we have serious work to do. i always believe the best defense, we need to make sure china knows there's consequences and we can exact pain on china the same way. ashley: i think of the colonial pipeline ran somewhere attack in 2021. just that created panic, there's a shortage. when people talk about a mass attack. air traffic control, the water system, you name it, it could create absolute chaos to the deck of this would be a major

act of war, would it not, if we could track it back to china? >> no doubt, this would be, these are cyber bombs. it really is equivalent as if the chinese military put actual bombs in our infrastructure and exploded them, you are talking about cyberbombs in water treatment facilities, electric grids and all our critical infrastructure and the effect would be, as you said, mass havoc on the united states and do significant damage which is what china intends. ashley: of course we could retaliate i would imagine in kind. >> we have significant cybercapabilities, no doubt about that. however, as christopher wray, the fbi director, noted in his testimony, if you look at our personnel in the cyber warfare

realm the fbi has versus china's army of hackers, we are outnumbered about 50 to 1 in terms of personnel so we can retaliate but china is growing their capabilities and a significant way and we need to get very serious about making sure our capabilities continue to be superior to china so that we can win in the cyber warfare realm and all forms of battlefields. ashley: absolutely, we have to leave it there but thank you very much for taking the time today, we appreciate it. by the way, one chinese organ maker is poised to rescue the struggling swedish ev maker called star. what's the story here? lauren: they will take over funding of pulse star. volvo had been a big investor, they own a majority stake so what the issue is, a smaller ev

player has to absorb these massive costs to develop evs at a time when customer biden has been pretty slow, then you take a look at china. they have the resources and they really own the ev market there so this is a way that you can say china is bailing out pulse star or pulse star is consolidating under chinese financing but it's a way to help struggling ev startups. ashley: thank you. i want to give this to our viewers. time to send in your friday feedback, you can e-mail your questions, comments, criticisms to varneyviewers@fox.com. we want to hear from you all. now this story will make you laugh. california governor gavin newsom was at a target check out when he witnessed someone shoplifting. he then asked the clerk why no one was stopping the thief and she turned around and blamed him. >> the woman says he's just walking out, he didn't pay for

that. i said why aren't you stopping him? she goes the governor lowered the threshold. there's no accountability. i said that's not true. she looks at me twice, then freaks out. ashley: would you love to have been a fly on the wall for that, leo terrell fired up, his next. ♪ ♪ ♪ limu emu & doug ♪ ( bell ringing) customize and save with libberty bibberty. liberty bushumal. libtreally blubatoo.

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ashley: let's get back to the jobs report, 353,000 jobs added in the first month of the year, unemployment staying up 3. 7 precedent. a lawrence is outside the labor department this morning, you spoke to the labor secretary. what is she saying about this blowout report? >> boasting about it saying this is bidenomics, 353,000 jobs added, last time that happened was january of 2,023 a year ago.

this adds fuel to the fact the federal reserve may not cut interest rates, you have to be careful when looking at this particular report because this is the benchmarking so these numbers may -- the report doesn't carry as much weight and this is why. >> hundred 53 headline number just underscores the point i made about the wild seasonal adjustments for january. again, when we flipped the calendar from december to january the economy loses 3.2 million jobs as the holiday workers disappear and the ability of the bls to measure that with any fine point is ridiculous and i think this number will be revised lower. >> you can see trends in this report continuing, government hiring, one of the top four jobs sectors for growth over the past three months, the government has hired an average of 40,003 people per month. career firm challenger gray and

christmas found layoffs jumped 136% from december, january marked the lowest hiring for company since 2,009 when the measure began. we seem layoff announcements already from amazon, google, ups, macy's, citigroup, blackrock, the list grows weekly, the reason forecast the economic slowdown and increased costs of inflation. >> we see layoff announcements from a number of companies like amazon, google, macy's, blackrock and more, is 2024 going to have a lot of layoffs? >> when my dad was my age he was laid off and had two kids going to college and i remember it was devastating so of course the reason why we feel like the jobs report is a good sign and why we are so focused on job creation and job growth and connecting people to jobs is it makes all the difference in the world.

>> we will have to see what those layoffs mean for the next jobs report. ashley: thank you very much. retail crime theft runs rampant in blue cities across the country. democrat lawmakers looking to crack down. brian, good morning. what are the states looking to do? >> reporter: kathy hochul is proposing new state police units go after organized retail theft and smash and grab. she is proposing to help with adding more security and an increase in penalties for assaulting workers. new york republicans say it is too little too late. >> a failure of policy and trying to put lipstick on a pig

and hope it makes it look a little prettier but it is still a pig. the reality is we need to crackdown on crime, we need to enforce our laws and hold criminals accountable. >> we've all seen videos of the brace and smash and grab organized retail theft, stores forced to close down or put their goods behind lock and key after republicans regain control of the house in 2022, successfully campaigning on the issue of higher crime, democrats hope by addressing shoplifting, tougher on crime proposals, it will pay off this november. since 2019 new yorkers seen a sexy 4% jump in shoplifting. the highest nationwide, with 61% spike. democratic governor gavin newsom, increasing prison time for thieves and in washington dc the democratic city council is considering making it a

felony to steal $500 worth of product down from $1000. >> republicans have been wrongfully calling democrats soft on crime. it has been a suggestive legislative policy. democrats didn't do a good job combating that. we have learned our lesson. >> reporter: can these more moderate democrats convince progressives to take these tougher on crime ideas and enact them in the law and already in new york there has been pushback from progressives who think tougher penalties are not the way to go. ashley: we know how that works out. appreciate it. the governor of california, gavin newsom, he's complaining about rampant shoplifting in his state. watch this. >> the woman says he's just walking out, didn't pay for that, i said why don't you stop him?

she goes the governor, true story on my mom's grave, the governor lowered the threshold, there is no accountability. i said that's just not true. she looks at me twice and then she freaks out, because everyone over, wants to take photos, i said i'm not taking a photo, i'm having a conversation, where's your manager, why are you blaming the governor? $380 later i was like why am i spending $380, everyone can walk right out. ashley: good question and it is happening all the time in your state, mister governor. let's bring in leo terrell. have at that one. >> reporter: the governor is in denial and lying to the american people. he's already mentally checked out. he's a lame-duck governor hoping to run for the presidency. governor newsom is allowing this to take place because we have soft on crime prosecutors. we don't prosecute misdemeanors.

they don't prosecute criminals. they allow this to happen every day. we have enough footage at fox news to show the governor you don't prosecute criminals, it's a green light and that is what is happening in california and in democratic cities. ashley: he must be in denial. let's move on. walgreens announced they are closing the store near boston, squad member ayanna presley calls it racist. racism? what about the left on crime policies? what about this? >> this is insulting to real true cases of racism. walgreen is closing because they are being victimized by crime. what is happening, when democrats are in trouble and don't have an excuse they use the race card. it is self legitimate racial cases, this is not one of them.

ashley: to your point, it does a disservice to all victims of racism, quite frankly. why she can't blame the soft on crime policies that force companies to cannot operate these stories because they are losing money is beyond the pale. a lot of gall, don't you think? >> absolutely. democrats will not prosecute criminals, why? this sounds crazy, that's their voting base. that their potential voting base. they want individuals to believe they are being victimized based on a racist justice system. there is no systemic racism in america. that happened in the 1950s. we are in 2024. there is no systemic racism in america. racism individually, yes, but not systemic. ashley: always bringing the fire on this friday, thank you

so much. we appreciate your input today, thank you. coming up, jesse o'connor is a former member of the cartel. he says this administration is doing nothing about the border crisis. he called calls a free-for-all for the cartel. jesse will give his story next. ♪

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ashley: as texas reinforces its barrier, migrant traffic moved west. in eagle pass, texas, but most of the apprehensions in january? >> reporter: normally over this

time in eagle pass, texas, groups of migrants trying to cross the rio grande in the us, but putting up all those borders including razor wire, in eagle pass, it is a different story. arizona, bigger increases. the latest cvp figures show 40% of apprehensions in arizona and california. of the 33,000 apprehensions, more than 23,000 of them happen in those two states and compare that to what we are seeing in the del rio sector, december saw 71,000 apprehensions january, just under 17,000, a drop of 76%.

there's a few things at work here, from el paso and beyond, california and arizona. on the other side of the border, secretary of state antony blinken's visit to mexico in december it appears mexico is stopping migrants from boarding trains and removing them from the northern border and the southern border but enforcement isn't happening in all areas on the us/mexico border. it happening in the del rio sector, that's why we are seeing bigger numbers in arizona and california. ashley: a former cartel member joins us this morning. thanks for being here. tell us your story. what made you turn your life around?

>> this was in the middle 80s, i met two guys visiting from mexico. the restaurant we were in we needed some decorations. they said we have decorations across the border. it happened but they offered us of her things. the other things, we decided to go for it. the drug and the cocaine started. ashley: how big is the cartel's involvement. transporting these migrants. is this big business for the cartels? >> tremendously huge business. it's bigger than the drug

business right now. a good amount of money for that. ashley: do they give these migrants drugs, turn them into drug deals? >> throughout mexico, for various reasons, some for drugs and others because they want to have them. dancing girls for their clubs, prostitution and what have you. ashley: what do you make of president biden's border politics? >> he's our commander in chief. he has immediate power for doing what he has to do on this

border, our borders, but chooses not to. says he's tried but he is not, isn't even touching it. i always think when trump was around, trump stopped all this but they have been trying to do everything opposite what trump did. that is why they have gone to open borders. trump had closed borders. it's a good intelligent reason to think about. ashley: you and your wife are heading to eagle pass, texas. what are you planning to do their? >> we plan to go into be with our state down on the border in eagle pass. we want to be with everyone, to participate in backing up our governor for what he's trying to do.

he's trying to protect our borders. trying to keep his hands tied up. we need our people to realize we need this. we cannot have migrants thrown all over texas. in the near future. ashley: thank you for taking the time to chat with us. thank you. residents of east palestine, ohio, trying to rebuild, one year after that toxic train derailment. one woman says she feels left behind. we have that report next. you an elevated experience, tailor-made for trader minds.

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ashley: we are one year from the toxic train derailment and businesses are struggling to rebuild. kelly, you spoke to some of these business owners. is anyone leaving because of this?

>> reporter: we are the derailment site which is home to saran wrap which makes product for the high heat industry. there are three companies that are part of this, and relocate to pennsylvania, heavy machinery that is part of the structure of this building. the owner filed a $500 million company, the epa told the business cleanup would take 8 months. it's a year later it is apparent this won't be finished anytime soon. >> not like a temporary interruption, the maintenance crew and everyone and when that happens you don't just come back from that.

>> reporter: the enchanted salon is a mile from the derailment site. when thomas snedeker open the business in 2022 they say they have lost 30% of their clientele and have received 0 help from norfolk southern. they will put 25 million into the city's one part. these business owners say norfolk southern should give people a reason to come back to this town. >> give us a little bit of a facelift, bring some restaurants into town to help bring this business for the rest of us. >> reporter: the salon is one of 18 businesses receiving loans from the state because of this disaster. the business tells me with the anniversary being tomorrow, haven't received that money. ashley: thank you very much.

alzheimer's is considered something that happens from within but a new study revealed cases triggered by a specific medical treatment. doctor marc siegel joins us, what more can you tell us about this? >> this is great research from the university of london. they looked at a practice done from the 1950s to the 1980s. they used to take cadavers to use in kids that were very short. they replaced the growth hormone. they stopped doing that in 1985 because they figured out it was impossible to make it completely cured. from 77 to 85 they amped up sterility practices but they found certain abnormal proteins were in some of these extracts.

really rarely, a prion disease, something that causes mad cow disease. the other is alzheimer's proteins. they found alzheimer's proteins in these abstract in 2018 and now, just now, a study in nature medicine where they found five people to developed early-onset alzheimer's from having received these extracts way back. what the viewer needs to know is this is not going to happen to you. this is not contagious, one person with alzheimer's putting to another, 0 chance of that. the idea that there are some side effects from using organs from people are transplanting them, we don't do it anymore except for organ transplants, we don't do it anymore. extremely rare. it shows something amazing. it looks like beta-amyloid proteins may be involved in the onset of alzheimer's.

we've been thinking that. we have been thinking this is further evidence about beta-amyloid protein is directly involved. ashley: we have to leave it there. you really even some tension about this. the headline on this is concerning indeed but you put it into perspective as always and we appreciate it. sorry we don't have more time. thank you so much, we appreciate it. good to see you. still ahead, brian brenberg, mike lawler and oklahoma state superintendent brian walters. great lineup, the 11:00 hour of "varney and company" is coming up next. ♪

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