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tv   Varney Company  FOX Business  February 7, 2024 11:00am-12:00pm EST

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members for coming up with stupid ideas. i blame the leadership for not being able to count the votes. president trump killed the immigration bill, the border bill by intervening. >> it is disarray and starts with leadership problem and starts the fact they've lost a bunch of elections and nominated
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terrible candidates. >> he created this border crisis susan li in his first year in office as president. more people illegally crossed the southern border than all four years combined of president trump. >> public opinion has turned against israel for defending their right to defend themselveses. that's what all this is about; right? stuart: back in the ussr and this is by the way, wednesday, february 7. on this day, 60 years ago, the beatles arrived for the first time in america. there they are. fab four after the panam flight and jfk and monumental moment i remember remarkably well. stuart: appeared on ed sullivan
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show. lauren: how many watched? >> stuart: 73 million. lauren: how many will watch the super bowl? stuart: this year? more than that. as a proportion of the population -- you're having a go at me. lauren: i love it. that was great. i reminded you of all that this morning. i wanted the credit. stuart: i remember watching bbc news and report on the beatles arriving in new york that day. >> was it on radio? stuart: no, we had tv >> just playing. stuart: let's get to the markets, shall we. there's good news there. there's a little green. the dow is up 150 and nasdaq up 103 points. how about the big tech, all are higher. meta and outstanding here and they're up 28% just this calendar year. that's quite a performance i'd say. 10 year treasury yield well above 4% level and down a little
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and at 410, okay. that's markets. now this, surely this is donald trump's republican party and rolled over all opposition like in 2016. the latest, nikki haley faced no challenger in the nevada primary, but lost to none of these candidates. it's hard to come back from that, isn't it? trump meanwhile will win the nevada caucuses and take all the delegates. reportedly, ronna mcdaniel will be running the south carolina primary and trump did that. on sunday on fox he called for change at rnc and got it. he has real clout in congress these days too. he doesn't like the southern border deal and opposition has a lot to do with likely defeat and lead over biden is widening and poll is 47-42 and that's the biggest lead he's had in the trump v biden polls.
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as things stand with trump almost inevitable candidate and biden insisting he's going all the way, it's looking like a guaranteed rematch nine months from now. is it? i'm not so sure and i say that because the president is not equipped to conduct the.campaign or conduct the presidency. she's showing his age and it's getting worse. it's painful but please, watch this as he tries to adaughters or sons the hostage deal. >> there is some movement and i don't want to -- let me choose my words. there's some movement and there's been a response from the from the opposition. but -- yes, i'm sorry.
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from hamas but it seems to be a little over the top. we're not sure but we're continuing negotiations right now. stuart: you saw it. a reporter has to remind him of the name of the opposition as he calls it. that is the terrific rihannas, hamas. trump is the steam roller and biden is not. third hour of varney starts now. stuart: the white house is dodging questions from our own peter doocy about the president's mental and physical health. watch this. >> how is president biden ever going to convince the three quarters of voters who are worried about his physical and mental health that he's okay even though in las vegas he told a story about recently talking to a french president who died in 1996. >> i'm not even going to go down that rabbit hole with you, sir. >> what's a rabbit hole?
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he said he talked to -- >> you saw the president in vegas, in california, you've seen the president in south carolina, you saw him in michigan. i'll just leave it there. stuart: martha maccallum joins us now. the white house will not address this issue because if they do address this issue, they come out on the losing side. that's my opinion. >> well, the tape doesn't lie as you say in the markets. and that tape is devastating and i think we need to do more of that. i play that had whole thing on my show as well. i think you have to play the whole thing and look at how painful and long these pauses really are. now as peter brought up, not only could he remember the name of hamas, he thought mineron was the president of germany then corrected and said no france,
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then no, dead. we all make a slip up. it's not that you can't slip up once in a while but it happens on an almost daily basis. it's impossible to believe that this isn't the reason that they don't want him to do a super bowl interview. can you imagine how devastating it would be in the middle of a super bowl interview with you tell me how many million people watching, 60, 70 million people, north of that. if in the middle of that interview you have one of these awful, awful moments and it's telling also the polling because a lot of people bring up when trump slips up on something or gets something wrong and he'll say i meant it. i meant obama is running the white house and not biden. but the polls tell us the people have a higher confidence in trump at this point. my dad is in his 90s and he's super sharp. he knows more about what happened today than i do. it's about the ability to do the job.
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i think you're right and people will continue to question. stuart: karine jean-pierre is defending the president's decision not to do the super bowl interview. watch that tape, please. >> we know the viewers that tune in and tune in to watch the game. obviously, you know, that is just a fact, they want to see the game and their favorite team and half-time show. it's that type of tradition. the president will find many other ways to communicate with americans, the millions of americans out there, and we will find those ways to do it where we think the time is right. stuart: i have to conclude that his handlers don't think he can do it right. >> people don't feel like seeing him. is that the message? people don't really feel like seeing him. they want to watch the game. i don't know what else you take away from that, stuart. stuart: martha, thank you very much indeed. always watching you at 3:00 this afternoon. >> good to see you all.
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stuart: fox news. markets still going up, 70 odd some points and don't care about healthcare. show me the market, please. i do care about it but not right now. dow up 170 and nasdaq 120 and s&p up 25. lou basenese with me. you think it's a possibility that the fed doesn't cut rates at all in 2024? >> i do. i've been contrarean and in the last 7-10 days and latest data plus the election make it is a possibility. march is off the fable may most likely off the table and close to november, fed wants to stay out elections and influencing that and it's a distinct possibility if, the big condition, corporate earnings continue to accelerate and return to growth. stuart: that's not reflected at this moment. this is a nice rally. >> no, but if you look at this, the market digest this is and be
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okay. we expected cuts in the market and the market hates uncertainty. once we have uncertainty, they can price it in and meaux accordingly. stuart: uncertainty of no rate cuts. not quite the certainty they want. >> no. stuart: disney, they report this afternoon after the bell and you've got a list of reasons not to buy. >> yeah, a lot of stocks are cheap for good reason and disney is one of them. tocometertive in the streaming space and a money loser for them since they've launched and the parks are raising prices at a time when the consumer is strapped. box office with proxy and political strategy goes on and i can't find a positive thing to like about disney and 3,500 other options in the stock market like microsoft. stuart: well said. stay there, you're with me for the hour. >> yes, sir. stuart: lauren is looking at meta and a 28% jump in one stock that size just this year. lauren: up another 3% today and surging as snap is falling 34%.
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investors for notary public are completely disappointment -- senate are dis-a-- investors for snap are completely disappointed and meta ad sales increased by 24% and snap is competing with that. >> meta is an indication of the strength of the economy because of ad sales and snap never stood a chance and they have no wow. tens and any innovation acome up with, facebook steals and rips it off. stuart: never had a single quarter where they made money. not good. lauren: average daily user increased to 7 # 1.5 million and they're on track to get the goal of 1 billion daily actives by hopefully soon. stuart: a stock that's gone way, way done and people thought this might be an extension of banking rye sis all over again. i'm talking new york community bank corp..
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lauren: executives raced in to say the bank is on sound footing and no outflow and investors are not convinced and what happens to commercial real estate exposure? a regional bank issue or commercial? stuart: it'll unfold. thank you, lauren, coming up, john kirby apologizing to iraq for claiming they were aware about them and no idea the attacks were happening. wondering why things are costing more, there's a lack of cows in america. we'll explain what's behind the shortage. younger folks embracing mobile homes instead of traditional houses? say it ain't so. does that make economic sense? maybe it does. we'll ask our real estate guy mitch roschellle next.
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pushing back. start with home insurance. there's been a lot of very expensive disasters in recent years from hurricanes to wild fires and add in the increasing cost of repairs and they say the risk isn't matching potential for profit and premiums become more and more costly. up to five states seeing the biggest hikes in home insurance rates, florida takes the top spot with a whopping 68% and 47% and colorado, idaho and texas at 46%. some states fighting back and the north carolina commissioner told us he rejected a proposal from the insurance industry in his state to raise rates by a massive 42% because he says physicalities no justification. listen. >> i have to make sure rates are adequate and insurance companies are charging enough to stay
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solvent and stay in business but at the same time those insurance rates cannot be excessive or unfairly discriminatory. ashley: ashley: the companies can't afford to continue under the current rate and blame climate change and in florida nine property insurance companies have gone out of business since 2021 and others just abandoned the state. it's not just homes. car insurance rates also spiking as well. according to a new bank rate report, u.s. drivers are paying an average of $2,543 a year or $212 per month for car insurance. that's an increase of 26% from last year. extreme weather, poor driving habits, high repair costs being blamed and drivers in florida and louisiana are paying the highest rates and by the way, i want to be clear as i was doing
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this, stu, i got in the mail for my insurance company for the hates i live in and rates going up 7.5% here in florida for home insurance. it's a fact and really -- some people are dropping insurance? insurance in florida and can't afford it. stuart: i wonder if the insurance rates on cars and homes are factors into inflation numbers. they should be and i don't know how much they are. going up like that, that raising inflation. ash, we'll move on. thank as lot. headline in wall street journal, i'll read it for you. rent comes down for the wealthy and rising for the rest. mitch roschelle is our real estate guy and joins me now. is this because of a surplus of upscale homes for sale, is that accurate? >> 100%, stuart. all of the newer homes, the high-rises that have been built in major cities, their land cost is very high and construction cost is very high and asking prices for the condominiums or rent are exorbitantly high and
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just a ceiling in which tenants will pay. however, for the rest of america, rent just keeps going up and up and up. stuart: it's a nasty situation. stuart: median sales price for new home it $400,000 and new mobile home is $80,000. mitch, do you think mobile home buying is going to be a trend for younger families? i'm suggesting that younger famfamilies need a home and dont have to buy one in a trailer park. they can buy one and put it anywhere they'd like. is this a factor for young folks? >> first of all, the trailer park stigma over manufactured housing is one of the biggest obstacles and buy a brand new 2,000 square foot double wide for probably about $160,000 and that is a fraction of what a new home would cost. the communities are very new and
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modern and well amentized, and the crisis we have in the country, stuart, is work force housing. that's the biggest slice of housing market that's undersupplied and that's a great solution and once people get past the trailer park stigma, it's a viable option for young families. stuart: i didn't mean to point out that stigma, all though it's obviously there. these manufactured homes, you don't have to put them in a park. i've got a farm up country. i could put one of these in the woods if i wanted to. it would be very cheap to do that. do you see people doing that? are the sale of the manufactured homes really going up? >> the sale is going up largely because of expansion of the communities. but you're 100% right. people are buying a completely manufactured home and probably driven down the interstate and seen one ahead of you with wide load sign behind you and people
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are putting them anywhere. hooking them up is the challenge and people tend to put them in parks because they have all the hookups. if you're putting on your farm, figure out how to get electricity and sewer to that home. but, yes, people putting them on lots as an alternative to building a home because you can do it for a fraction of the price. stuart: mitch roschelle, very interesting story. we'll follow it. thanks, mitch, and we'll see you soon. thank as lot. >> you bet, stu. stuart: lou basenese, mobile home as a starter home for young family s? >> the economics are making sense. credit to mitch and he's been early and adamant and right this is housing about a supply issue and not a demand issue. these starter homes are meeting demand for younger families. you brought up, you can put it on land. just the hookups and it's a lot more affordable and as the housing market continues to outpace, prices outpace what people can afford, these become more attractive. there's other costs with manufactured homes, but it's a good business. i think so much so i have to double check this, i think berkshire athletics directorway owns a portion of mobile home
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builders and it's an attractive option with the current home market. stuart: thanks, lou. 70 public housing employees in new york city has been charged with taking $2 million in bribes. ashley, what kind of bribes are we talking about? what are they being bribed to do? ashley: yeah, they took bribes from contractors. oh, my mic fell off. stuart: temporary pause while he fixes his mic, which he's doing right now. okay. keep going. ashley: let's do it. can you hear me now, now bribes from contractors where they took them from contactors that were employed to do small scale repairs and maintenance and paid under $10,000. now, the suspects who are mostly building superintendents and assistant superintendents took a portion of total contract amount and usually in the range of $500 to $2,000 trying to stay under the radar.
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over the course of the investigation, the doj says describes amounted to over $2 million in exchange for work that was worth around $13 million. prosecutors say the bribes date back to 2013, 77 employees with the housing authority in new york city face charge of extortion, solicitation and, yes, receiving bribes. stu. stuart: all about the i having. thanks issue ash. glad you got your mic fixed. good story. president biden blames trump for why we can't secure or border and says trump is weaponnizing the issue. but the biden administration spent years misleading the public saying the border is secure. we'll dig into it. new analysis says iran has critical threshold in nuclear weapon's deadly weaponment and that's the great -- development and that's the fear and iran has a gm bomb and morgan ortagus on that next.
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stuart: couple indicators close to or at record highs and lou basenese is still with us and has a couple stock picks for us. first off, flutter entertainment, okay. flutter is an english word meaning you placed a bet, had a flutter on something. this company owns fanduel; right? >> yeah, suggesting that instead of making a bet that's going to lose on who's going to win the super bowl or really bad bet on the middle of table about something about taylor swift, fanduel is a good option and it's listed on new york stock exchange in the last week and head always wins. head-to-head with draft kings and more growth and international exposure and smartest bet on the super bowl. stuart: the name of the company is flutter, f-l-u-t. game therapeutics. >> i didn't say buy but said watch. they have ai approach to bio-tech that's showing reversal of parkinson's disease and it was clinical and preclinical in
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october and put out reversal of parkinsons in mice. it's interesting to partans to and support of michael fox foundation and a few other foundations. very speculative early stage but as bio-tech rebounds, more valuation will be paid and more premiums in the early teenage clinical companies. system of articulation stuart: any treatment for parkinsons will be a blockbuster. >> arrest or slow down the progression and we're talking reversal, that's a game changer if it works, still in clinic. stuart: thank you, lou. former obama officials are launching an advocacy group to help biden as reelection. what are they doing, ash? ashley: the group called national security action will make the case for joe biden's reelection based on foreign policy. leave it right there. the group was originally cofounded by jake sullivan and ben roads, former deputy national security adviser for
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barack obama. the leaders say they don't expect to get involved or didn't expect to get involved in the campaign's after biden beat trump in 2020, but the former president's resurgence haslet them -- prompted them to get involved again. israel and hamas war in gaza divided the democratic party and campaign group will try to make the case for democrats to unit using the argument that biden is better than another trump term. stuart: iran having newburns is surely the great fear. what happen ifs they suddenly announce they've got ukr uraniur a bomb. what happen s? >> that's been happening and the capability, stu, has been building for the past three years and this is -- iea has
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been warning about this and we know iran is up to nefarious activities and since the time. stu, that doesn't mean we're talking months from that and only if they're not doing this in secret and they very well could be planning to the weapon side of the bomb producing them in secret and for three years there's a disastrously failed strategy against the iranian regime and last week six presidents said iran should never have a nuclear weapon and we put policies in place under a trump administration to maximum economic pressure campaign trying to force them not to get the bomb. the biden years they haven't enforced any sanctions and announced weeks before october 7 they were going to give them $6 billion to get hostages back.
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largest amount of ransom we've paid for hostages and what's more when you look at it at a granular level, we've not used any levers we can pull at united nations with iaea and you have them trying to kill officials like mike pompeo and brian hook and trying to actively kill americans on our soil while they are actively killing american troops in the middle east through their proxies and oh, by the way, we'll wake up this summer and might have a pneumolarra bomb. stuart: wouldn't want to wake up to that. the remaining 136 hostages in gaza and they've been badly tretreated and world doesn't sem to care about it. i don't think hamas will give them up. what do you think? >> it'll be incredibly tough and
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announced by israel that close to a fifth of the hostages that were in gaza are no longer with us. they have perished. that's another day of national trauma for the israeli people. they have more and more hostages and i was just in israel a few weeks ago in january and met with the families and most of the six american hostages remain, remember, we got no more out and one little girl, thank god, but two americans perished in captivity over the last two months. when i met with the families of the americans that were held in captivity and told them every time i was on television and radio i'd bring it up. it is unacceptable that president biden allowed americans to remain hostage since october 7 by a terrorist group in gaza and there hasn't been a national address and two rounds of exchange opportunistic hostages where he month gotten all of the americans out and this is absolutely unacceptable, stu. stuart: hostage taking in my
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opinion is dis-pick and will i'm shock sod many people in america, america's congress and our universities and on the streets hamas is supported. i think that's despicable. i really do. afraid we're out of time. morgan, come back soon, please. see you later. thanks. >> i will. stuart: guaranteed. john kirby is apologizing for making a false claim about air strikes in the mideast. ashley, what this is the all about? what is he saying? ashley: he's appal jazzed for last week saying iraqi officials were notified before a series of coordinated air strikes and kirby said the bombing of targets related to the revolutionary guard inside iraqi boarders was communicated to national leaders ahead of time. kirby released a statement on that same day about the confusion on it saying he was going off information that had been provided at the time.
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in a press conference the white house spokesperson apologized and he deeply regretted any confusion that caused and u.s. not looking for a war with iran and retaliatory strikes in syria and iraq deescalate tensions and put an end to attacks on u.s. troops in the region. stu. stuart: thanks, ash. coming up, listen to this, alaska is sending troops to our southern border. truly, every state is become ago border state and we've got that story. alaska on the southern border. 1 million illegal migrants crossed the border since octobe. we'll bring you a live report from the border next. a million since october. good lord.
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stuart: sources tell fox news there's been more than 1 million migrant encounters since octobe. that's the beginning of the fiscal year. that's the earliest we've seen that milestone in any fiscal year. meantime 15 attorneys general sent a letter strongly octobering to the border bill. casey stegall in eagle pass, texas. what do these attorney generals want to see in the new bill? reporter: well, stuart, we'll get to that in a moment but talk about the staggering number released to fox this morning. a very, very busy start to fiscal year 2024, which as you noted started on october 1. look at this graphic that shows the month side by side, close to 241,000 migrant encounters
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reported for october and 222,000 in november and record shattered 302,000 for december. in the first three months, cbp logged over 785,000 encounters. while january figures have not officially been published or released, we know it's at least more than 214,000. in order to push past the threshold of 1 million. last year at this time, there were 70,000 fewer encounters. yesterday, texas attorney general ken paxton along with 15 other state attorneys general sent a letter to u.s. senate leadership in part calling on congress to authorize states to enforce existing federal immigration laws. similar to what texas has been doing here in eagle pass, specifically in shelby park, and they've come under so much criticism for it, but crossings here have dropped significantly in the past few weeks.
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meantime chief of u.s. border patrol says already this fiscal year more than 160 migrants with gang affiliations of some sort have been apprehended and everything from murder to drug trafficking and border patrol chief adding this is clearly as we have been say ago threat to public safety and highlights the importance of agents out here patrolling the front lines. stu. stuart: thanks, casey. a migrant gang hired a hacker to break into stolen cell phones to steal people's banking information. joining me now is nassau county executive bruce blakeman. bruce, before we go further, have the hacks been successful and have people lost money? >> well, they keep trying and trying. basically these people who come here illegally were brought over by organized crime cartels that they owe a lot of money to.
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if they don't want to get killed or their family to get killed, they have to repay the organized crime cartel so they're engaging in illegal activity. they're engaging in any kind of illegal activity, whether it be shoplifting, whether it be cyber crimes or whether it be burglary or robbery. we're seeing an up tick in crime from illegal aliens and it's got to stop. we have a foreign invasion at our border and obviously we have a crime wave visit. stuart: you represent thousands of people that commute into new york city on a daily basis. do they feel safe going to work here? >> no, our community is very upset with the federal policies and local policies and we're not a sanctuary county in nassau county and we have almost 1.5 million people and we've made a choice that we don't want to be a sanctuary county, we want to know who comes into our
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county. we want them to be vetted and we don't want organized gangs sending their people here into nassau county. so our district attorney is very tough on crime, our police are tough on crime and we are not a sanctuary county. stuart: sire, thank you very much indeed for coming on the show. you're jumping in at the last moment and we appreciate that. we want to know what's going on in our city and you told us. >> thank you, stu. stuart: president biden blamed donald trump for the senate border bill's collapse. ashley, why is it trump's fault? ike well, biden claims that donald trump wanted the bill to fail to keep the border a mess for his own political advantage. >> all indications is that bill won't buffe forward to the senate floor. why? a simple reason: donald trump. donald trump thinks it's bad for him politically and therefore he doesn't know it helps the
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country and he's not for it. he'd rather weaponnize this issue than solve it. ashley: republicans say it's more than galling that the biden administration is trying to fix the border crisis after denying there was ever a problem for years. watch this. >> did president biden tell you to open up the border or did you? >> the border is not open, congressman. >> the border is secure but we have a broken immigration system, in particular over the last four years before we came in and it needs to be fixed. >> a lot of migration -- unlawful migration is not accept and will we'll secure the boarders including through innovated coordinated actions ashley: worst month last month stopping 3 million people and equivalent to entire population of pittsburgh and by some estimates under biden, illegal immigration population in america has nearly doubled to a
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staggering 20 million, stu. stuart: another state sending national guard members to the southern border. alaska, can you believe that? ashley: no, my first line is alaska army national guard planning a deployment to the u.s. border with mexico and that's a long trip. they're going to bring two helicopters, 20 guardsmen consisting of air crew, maintenance specialist and other personnel. this comes as a row between the -- argument over the federal government and texas raging on. texas refuses to remove razor wire along the boarder and biden administration says the state doesn't have the authority tore do that and a court agreed with the biden administration but texas is not backing down saying the flow of illegal migrants has slowed down significantly and have he enforcements coming from alaska. stu, that's it. stuart: from alaska for heaven's sake. enjoy the weather i'm sure down there. thanks, ash.
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here we go with the dow 30. sense of the market. i sense the market is plenty of buyers out there and more than half of the dow 30 are up because they're being bought and the dow itself is at 38,000 and listen to this one. beet prices rising and not just joe biden's policies to blame. america has a cow shortage and a report from a former on what's behind our lack of cows, that's next.
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♪ ♪ ♪ [typing] ♪ you were made to act spontaneously. we were made to help plan accordingly. ♪
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stuart: america is facing a cow shortage, sending price of beef through the roof. kelly sabiri joining me from a farm in illinois. what happened to all the cows? reporter: they're currently backing away from me, stuart. i'm mott sure what i did to scare them. a few hours ago we were friends. veal and beef have the prices raised about 9% since last year.
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new usda report said inventory of beef cattle in the country dropped to lowest number in 70 years. to talk about it, i have allen adams, who is showing me the ropes, tell me what the ramifications are for someone like you and consumer when is we see this inventory drop so low. >> well, for me, it's going to make it harder to fill my feed lot and it's fewer cattle to buy and for consumers, it'll be higher prices for a longer period to come. even if ranchers are able to rebuild their herd, you're talking two years before we see increased beef on the market. unfortunately there's a period of time where we're not going to have to have the supply in prices high. reporter: how is weather affecting this? what's the number one cause?
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>> ranchers out west didn't have a pasture to maintain their herd and liquidated their herd and there was no incentive and the price has changed and incentive if it starts to rain. reporter: thank you, allen. we really appreciate it. stu, back to you. stuart: we'll take it. kelly, thank you very much indeed. we go from that to trivia question. here we go. this had me thinking and i like words and i'm a grammarian. which word has the most definitions, english word, one, set, take, or get? i'm told this is official definitions, not colloquial or slang. you got this. let's go.
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stuart: this was a good one. we did ask which english word has the most official definitions. it's your turn. run, set, take, or get? ashley: i will go with number one. you can use it in so many, run a company, go out for a run,
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good run of luck, on the run. stuart: not bad. >> i will take the only other sports the middle one, set, number 2. lauren: set in place, that kind of stuff. i've got a few seconds to pad this out. i get something, got it, going with get anyway. what the answer? according to the oxford english dictionary there are 430 definitions set. that's interesting. . 430. ashley, see you again tomorrow. coast-to-coast starts now. 3, 2, one.

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