upside, so a little bit down feels about right to me. maria: i think i agree you, ryan, that we'll see at least one cut. i think the fed really wants to cut, i mean, at some point. but kevin is making the right point, inflation is till a problem. cheryl, where are we on inflation? >> obviously, the story is not good as far as the inflation picture goes. and i will say final thing about a.i. just really quirk you know, companies are cutting jobs because they're investing in a.i. that's a consumer story. maria: great point. great conversation, everybody. kevin has set, buddy carter, paul chris e for examplar ryan payne, kelly o'grady, cheryl casone knit. all hands on deck this morning. dow industrials down 363 with about 30 minutes to go. let's send it right over stu. take it away. stuart: good morning, maria. good morning, everyone. it's another of those big numbers that can move markets, and this one has. it is the consumer price index. in the last 12 months consumer prices up 3.1. now, that is a decline from the

reading in december but an awful lot of investors were hoping for a move below 3%. didn't get it. in the one month of january, prices went up .3%. that indicates a slight speeding up of price increases. here's the market reaction. not good. the fed will not -- well, i say not, probably not be cutting rate rates with inflation like this. the dow's going to open with a loss of maybe 360 points. s&p down 65. but look at the nasdaq, down 300 points as we speak. that is 1.7%. the nasdaq is taking the biggest hit. bitcoin hit $50,000 early this morning. it's pulled back only a little, 49,5 right now. interest rates, well, they're going straight up. the yield on the 10-year at 4.27%. that's the inflation number that's really kicking the yield higher. and look rah at the 2-year treasury. that's now at 4.60%. up 13 basis points. big jump this if interest rates here. gasoline, that's getting more ec

peps we've. regular gained 3 cents overnight. d.c. all up 4 cents at a $ 4.04. politics, president biden will not take a cognitive test. he will have a regular physical but not a separate test of memory. and the transcripts of the president's interviews in the documents case will not be released. that's where he demonstrated his lack of memory. vicious back bighting in the white house as -- biting in the white house. if kamala harris says she is ready to serve, but a senior bind official calls her ineffective. separately, the president is not happy with israel. he used an obscenity to describe prime minister netanyahu. just hours ago the senate passed a bill to spend billions of dollars, send it to israel and ukraine, but it is unlikely to get through the house. on the show today the, wait for it, valentine's day. this will drive people crazy. the climate crowd says don't buy those red roses. they are bad for the planet.

[laughter] tuesday, february the 139, 2024.. -- 13th, 2024. "varney & company" is about to begin. ♪ ♪ ♪ stuart: in case you didn't know it -- [laughter] it's snowing in new york city. lauren and i had a hard time getting in this morning, slippery road, but we made it. lauren: i'm a little scared to get home, however. finish kids get a snow day. sorry. stuart: all right. latest read on inflation. we have a consumer price report, and lauren's got the numbers. what do we have? lauren: consumer prices rose from december to january by .3% and 3.1% year-over-year. that was supposed to come in under 3%. we're not there yet. much of the increase was in shelter. it makes up a third of the cpi. but if you take out the food and energy, the more volatile

components, hook, prices are still up 3.9% from last january. that is the hottest since april. noor institute can i upin for a -- jump in for a second? doesn't the fed pay special attention to that core rate? that. lauren: yes. stuart: sorry i interrupted. lauren: and the reason the market is down so much, 93.5% of the betting is that rates are not cut when they meet in march. these are the biggest drivers of inflation, you can see transportation up 9.5%. shelter, up 6%. used cars fell by 3.5%, but i gotta say, if you look at the repair costs, insurance for cars, those are through the roof. and energy, of course, fell because gas prices have been coming down. stuart: insurance costs were a big deal. look at the market reaction reaction one more time. dow's down 375 points. this is premarket. we're joined now by mike lee. all right, mike, is this selloff that a we're to seeing right now because of inflation numbers, is

this the start of something big? >> well, you know, stuart, it could be. and i think it has more to do with the fact the market's been up over 20% if since the end of october, 14 straight weeks, and we are due for a little bit of a pullback. you might see some profit taking here. i think inflation's incredibly difficult to get down from this 3% range to the 2% range where the fed wants it, but in all likelihood the next move coming from the fed is much greater probability of a cut than a hikement so if you -- hike. so if you missed this rally, i'd be using it as an opportunity to start to get invested. stuart: should is i sell any of my if big tech stocks? they're at a high, paid a lot of money. why not get out and pay my capital gains taxes in april of next year? >> yeah, absolutely not, because wherever inflation goes, wherever the fed goes is not going to stop this corporate investment cycle in artificial

intelligence. okay? that amount of money that's going to go from global corporations into the cloud, into cybersecurity and most importantly into artificial intelligence, okay, is misunderestimated by the entire wall street. i think these companies have a long runway in front of them akin to the internet in the '90s where the markets went up over 20% for a a straight years -- 5 straight years. stuart: last one. are you still a souper bull on invid where rah? -- super bull? >> absolutely. i'm kind of hoping that the market is disappointed with their earnings next week so that i can buy more at a chapper -- cheaper price. this investment cycle into artificial intelligence with represent such a small fraction of the pie of global enterprise tech spend. for that to double, triple and quad with ruppel over the next few years is not that big of a deal on a holistic basis. but for all of these individual

companies, it will be meaningful for their earnings. tooth stoort got it. mike lee, thanks for being with us on an important day. we appreciate it. see you again soon. switching gears to politics. president biden made a joke about his memory during a speech yesterday with. what did he say? lauren: not a joke. he was touting his accomplishments, and and then he did address the elephant in the room which was his memory, and here's the joke. >> we're promoting clean energy and industries of the future made here in america, made in america. i know i don't look like it, but i've been around a while -- [laughter] i do remember that. [laughter] [applause] but, you know, there's so much we're getting done. lauren: it was a funny moment, i give him credit for the levity.

stuart: he plaid it well. lauren: but he needs to convince 86 of americans who think he's too old. they're worried about his mental acuity. that hur report is creating quite the political firestorm. biden's personal attorney called the report shabby. if team biden is trying to discount it, make light of it, then release the tape, right? show us the record. house republicans leading the impeachment inquiry into joe biden want the records. they've asked the attorney general for the transcripts from that hur report, and they are reportedly in talks with hur to have him testify. stuart: they're going to get at him at some point p. thanks, lauren. the white house says biden's upcoming physical will not include a cognitive exam. roll tape. >> we're going to continue to focus on what this president has been able to get done. obviously, on his physical which is the president proves every day how he operates. how he thinks, right? look, by dealing with world leaders, by making really difficult decisions on behalf of the american people whether it's

domestic or national security. so he shows it every day on how he think, how he owners. and so -- operates. that is how dr. o'connor sees it, and that's how i'm going to leave it. stuart: form governor of arkansas, mike huckabee, joins me now. governor, can the white house, can the president, can they ever get this, the cognitive problem behind them? >> not as long as joe biden goes out and says anything. not as long as he shuffles to and from every podium he goes to or the marine one base. i mean, this is a tragic situation. and karine jean-pierre if goes to the podium and she she says everyone can see this president and, karine, that's the problem. we can. we're not stupid. and we can see that when he gets off the teleappropriator, he's totally -- teleprompter, he's totally lost. he can't get through the end of a sentence, and he mumbles through it. there's no way they're going to do a cognitive test and release that -- stuart: can he be forced to?

>> what's that? stuart: can you force a test? is there any way to do that? >> no, i don't think so. you can't insist that the president of the united states take a test that everybody gets to see. but the reason they're not going to give him that test and certainly not going to release the results is because they know what the results are going to be. if they knew he was as sharp as karine said he was, they would rush him right now into a cognitive test and have a press conference and say here it is, folks. this guy is fit as a fiddle. but his strings are loose. he can't make a tune, and that's the real challenge that the white house faces, but it's a bigger challenge that the country faces. stuart tooth vice president harris says she is ready to serve, her boards. ready to serve. following voters' concerns over biden's mental fitness. kamala harris has lower approval numbers than biden. this is a real democrat dilemma and, frankly, i can't see a way out of this. >> well, there's not one because being the first black woman as

vice president makes it real touchy for a party that puts everything on the way things look and on virtual manying. they can't afford to drop her right now unless they find another black woman to replace her. but with her approval numbers, i would say they're in the toilet, but that's a compliment. to where they are. and the worst parent of it is that she's not much better at the podium, her cognitive the abilities -- maybe it's not a matter of not being able, but other than going through venn diagrams she comes with nothing. nothing. and it's not like she's done a bang-up job down at the border where she was assigned to oversee it. that's been a disaster. so they're in a real world of hurt right now, and i think they're beginning to see it. stuart: i just feel it's rather difficult to cover this subject. one doesn't like to say that the president of the united states is in cognitive decline. one doesn't want to say that the vice president, who would take over from him, is not in a

position to take over from him and couldn't do the job. this is a sad situation and difficult to report on. last word to you. >> well, i think it's important to remember it's not his age. people keep talking about the age. it's not his age. clint 'poohed is sharp, still -- eastwood is sharp, still making movies in his 90s. it's not about how chronologically old he is, it's whether he's competent and capable of doing the job. and more and more the evidence says he simply is not. stuart: governor, thanks very much for being with us today. difficult subject, but you covered it well. we appreciate that. thank you very much. biden is not scheduled to take a cognitive test in his upcoming physical, as we told you, but trump did. remember this moment? watch it. >> i took a physical, and i passed with flying colors, and i took a cognitive exam. [applause] i said, doctor, give me anything you want, i want to tab take it. but i took a cognitive exam, and i aced it.

stuart: all right. should biden take a cognitive test? that is a medical and political question. we'll get an answer for you. and this, house republicans look to redo an impeachment vote for secretary mayorkas. do they have the votes this time? i'll ask florida congressman carlos gimenez next. ♪ ♪ let's work together. ♪ come on, come on, let's work together ♪ ♪ jorge has always put the ones he loves first. but when it comes to caring for his teeth he's let his own maintenance take a back seat. well maybe it's time to shift gears on that. because aspen dental has the latest

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both are free with no obligation. stuart: the senate has passed the $95 billion foreign aid package for ukraine and israel. chad pergram with us on capitol hill. will this pass the house, chad? >> reporter: with well,

stuart, good morning. it's unclear if it will ever come up in the house, but 70 senate yeas, that applies pressure on the other body. 22 republicans voted yes to democrats and bernie sanders voted no. >> today we make vladimir putin regret the day he questioned america's resolve. and we make clear to others like china's president xi not to test our determination. >> reporter: the plan faces a shaky future in the house. house speaker mike johnson says the bill failed to address the border. johnson says, quote, america deserves better than the senate's status quo. conservatives are livid at senate minority leader mitch mcconnell for going against many republicans and being a champion for ukraine. >> our message to the europeans need to be simple, fix your own country, share your own burden, spend more on defense, fix your own problems, and that will deal with the problem in russia far more than a $61 billion check to

ukraine will. >> reporter: that reflects what former president trump said over the weekend about nato. some democrats believe republicans are only bowing to mr. trump. >> more discouraged when i saw a breakdown in the senate with a lot of good people making votes that i knew they didn't believe strictly because of political fear or the political persuasion or whatever might be. so i don't know how anyone i would want to serve here if you have to be subservient to other than the people who elected you. >> reporter: a coalition of 218 house members could bypass the leadership and force a vote. lots of democrats would favor that, but they still need gop help. stuart? stuart: got it. thanks, chad. according to a new report from the if china select committee in the house of representatives, five u.s. venture capital firms have invested nearly $2 billion in chinese a.i. companies. a member of that house china

select committee is congressman carlos gimenez who joins us now. what do you want to do about these investments? ban 'em? get the money back or what? >> i think eventually we need to ban 'em. if not sooner rather than later. look, every dollar that we invest in, any dollar that we spend in china is going to be used against american interests. and so, yeah, we've looked at this. it's alarming because, you know, any, anything -- look, the a.i., the race to a.i. is very critical to our future. and american companies and venture capital is actually helping chinese companies get there first. it's not good for america. stuart: perhaps u.s. venture capitalists putting money into a.i. firms in china, we find out what they're doing and if they're making any advances. could work that way around, couldn't it? >> i don't think. i think you put $2 billion into

a.i., you know, investments in china, yeah, you're going to find out that they're going to be ahead of us, and i don't want to get there. i think the less money invested in china the better, the less money that we as consumers send to china, the better. they're building up their military at an alarming rate. they want to be the number one economic power in the world and the number one economic military power in the world by 2049. i don't think american dollars should be helping them in that endeavor. stuart: i just want to know how far you want to go in cutting china off from everything. i mean, do you ban their exports to america? do you ban our capitallal going there? how far do you go to cut them off a completely? >> who, me? me? i'd rather decouple from china, and i'd rather have it done, like, right now. look, every single dollar that we send to china enhances their economy and enhances their military and enhances their view of they want to dominate the world: i don't -- you know, we

have to look china straight in the eye and say what are your intentions. well, they've told us what their intentions are, to dominate economically the world and to dominate militarily the worldif a new world order which the united states, i don't think, the going to be part of that new world order. so, yeah, i think it's time we start to decouple from china. easier said than done, i know, but in a perfect world, i wouldn't be sending a dime to china. stuart: separate subject. the house will revote on the mayorkas impeachment tonight. do you have the votes this time around, congressman? >> well, if steve scalise shows up and all the republicans show up and the ones that voted to impeach him, nobody switches their vote, yeah, we do. it'll be 216-215. you know, the democrats, they have played a really good game with one of their representatives who hasn't voted all week. he wasn't accounted for, and that's the only reason why we didn't impeach him last week. you've got to tip your had -- hat to the democrats for plague a good game, but when scalise

comes back tonight, hopefully he is tonight, we should be able to yet this done tonight. hopefully, we can get this done tonight. stuart: and that means he is removed from office. >> no, it does not. it means that we are the prosecutors, and so when he's impeached in the house, then he needs to get -- the trial is actually at the senate. stuart: right. >> they are the court. and so, no, we're just the prosecutors saying we have sufficient evidence that he should be removed. it's the senate that determines by two-thirds vote -- highly unlikely it's going to get therm office. again, like i said, i think that's highly unlikely. it's going to be political. it'll go down the party lines, and so i believe that mayorkas will be found not guilty and will be able to keep his job. stuart: that's the long term. congressman gimenez, thank you very much for joining us, sir. >> it's my pleasure. stuart: quick check of futures before we go to a break. dow down 340, nasdaq down 337. that is 1.8 to the downside.

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stuart: check those futures. plenty of red ink. dow down 300, nasdaq down 336. mark avenue loan with us to watch the market with us. inflation ticked up in january. do you still say this rally continues from here? >> yes, absolutely. this is to be expected. it's not a straight the line. a decline in inflation is not a straight line, and a runup in the stock market or a return to a more normalized market is not just a one-way street. you're going to have stops and starts. people should have expected this and not have considered it a major surprise. so we think today is a good blip. if you get another down day tomorrow or so, we think it could be an attractive entry point for investors because 2024 looks positive. stuart: why are you so positive on the whole year? that wiess -- what's the big deal here? >> well, i think there are

several drivers. one is technology. technology is increasing efficiency and lowering costs. american inyes knewty, companies are being very relentless in monitoring the head count now. you see that in silicon valley. and they're replacing it with very efficient technology. so if you look a lowering your internal cost with a consumer that's reasonably strong, an economy that's strong, you're going to have the underpinnings for growth. and so we think economic growth continues in 2024. there are -- another reason is the government spending. we may or may not like it, but the chips act, the infrastructure act a, they're in full spending mode now. they were passed a few years ago, but now they're ripe to help the economy which is what i think the politicians wanted when they passed it. stuart: last one, and you've got 30 seconds, why do you like jpmorgan so much? >> well, they are a company with terrific management not just from jamie dimon, but top down. they have the a huge deposit

base. the government met them go over that 10% -- let them go over that 10% limit are. because they have so many deposit, they don't have to pay a lot. hair cost of goods sold is low. they're a leader in capital markets. we see that activity picking i up. we see wealth management, they're the number one asset grower in the active management space, top three in passive. that's since 2000. they're the number one new asset gather or in the active stays. so on several lines of business -- lend, wealth management, capital markets -- they're hitting it with good management. how do you beat that. stuart: you make a strong case, and we'll follow it. thanks so much for joining us. always appreciate it. mark avenue a loan are. we'll be back to you shortly. all right. the market is now open, and and it's open sharply lore. we're going to give you the numbers in a second once the initial turmoil settles down a little bit. the dow is off, what, 281 points, but the level is still

38,500. closed at a record high yesterday. it's come down from there or down 240 as we speak. most of the dow 30 are being sold. they're in the red. i do have 9 or 10 is that are in the green. how about that? move on to the s&p 500. in percentage terms, that is down more than the dow. it's off 1.3%. that's a significant decline, and it's taken it well below the 5,000 level. as for the nasdaq composite, i'm looking for a big drop there, and there it is. it's down more than 2%. 344 points down, 15,598 is the level. i'm going to show you big tech, i'm quite sure every single one of them is down. that is accurate. alphabet with, 145. microsoft is down $10. meta is down $11 and amazon, $166, down 5. here's a story for you and we're just getting this, tesla may have had their first fatality due to the self-driving feature. of tell me more. lauren: so "the washington post" got the 911 dispatch aid audio

of this crash happened in colorado back in 2022. it appears that the tesla worker who was driving the car was using full self-driving, advanced driver assistance, if you will, when that car crashed two years ago. he died. if the evidence suggests that this feature were responsible in part for that, it would be and could be the first fatality involving miss being's full self-driving -- stuart: and that's news. the stock is down 2.3% at 183 on tesla. all right, next case. a9 lot of company reported before the bell this morning including coca-cola which i see is up. lauren: revenue fell in the quarter as prices rose by 8%. but most of their revenue comes from the fountain, the syrup that you get when you go to a bar or restaurant, right? that's how you get your coca-cola. that's a sign of strong demand. if people are going out to seat -- eat, they're ordering coke products, stock virtually

flat. stuart: in a down market. hasbro. what about their holiday sales for toysesome. lauren: yeah, big drop. not only is the consumer pulling back over the holidays and continuing on their discretionary spend, but so are the retailers that stock hasbro like walmart and target, so their inventory is leaner, they're not ordering as much. for the years, and this could be why the stock is down more than 5%, hasbro expects toy sales specifically to fall between 7-12%. stuart: that's a tough forecast. biogen. lauren: so they cropped -- i don't know, that was their alzheimer's drug, the expensive one, and and they took charges for it. that's why their numbers disappointed in the quarter. stock was down almost 4%. they also have the multiple sclerosis drug, those sales were also soft. report card, not good in general. stuart: down 3.8%. molson coors. lauren: okay. they swung to a profit. demand strong for their beers. if you look at coors light and miller lite, both saw volume

increases of almost double digits. the sock is down over 1%. -- stock is down over 1%. stuart: i know that shopify swung to a profit, so why is it down? 11%? lauren: i know. the numbers from this report looked pretty good. earning, revenue, merchant business growth, they set up web sites for small businesses to use, they're growing. the product sale on web sites that the businesses are setting up, yes, the stock is down double digit. stuart: how about that? lauren: yeah. stuart: the computers must have seen something in the report that they didn't like. jeff bezos, i know that he's moved from -- he went from seattle to miami. lauren: correct can. stuart: i presume he's saving a ton of money on taxes. lauren: $140 million, and potentially more than $600 million more if he were to sell that a chunk of 50 million shares. e unloaded about 12 million a few days ago. florida has no capital gains taxes. washington state, 7% on large stock sales. in other words, the money that he saved by moving to florida

bought him his yacht which was $500 million. can you imagine saving $140 million with the potential to save $600 million more? money is mobile. stuart: can you imagine what seattle thinks about that? they just saw a ton of money walk out the door. literally. lauren: well, rethink your tax code. stuart soother well said. tell that to the guys who run new jersey, please. arm. obviously, a chipmaker. they went up 30% yesterday, they're down 10% today. lauren: you know what? they're up 110% this month. they nearly doubled since their earnings report. when was their earnings report? if haas week with. wednesday night. thursday, friday, yesterday this stock essentially doubled. this is a chip designer. is it the next nvidia? is it the underappreciated a.i. story? is it a meme stock? these are questions being asked because it's run up so much. now you do is have some profit taking. it ipo'd in september at $51 a share. imagine if you got in then.

one thing to point out, the lockup, they have about a billion shares that are outstanding, but only 95 million are currently trading. that's because softbank owns 90% of shares. a lockup period expires next month, and we'll see what happens -- stuart: when a stock the doubles in a week, i don't have the stomach to buy into it. lauren: but what if they're the next nvidia? stuart: what if, what if? lauren: the lionel messi of a.i.? [laughter] stuart: speaking of chipmakers, oh, here we go, nvidia is down $14, but somebody is bullish on them. there are some very high price targets. lauren: yes. now 825, that was an increase of $200. did you know that nvidia tried to buy arm in 2022, but federal regulators say no, no, no, no. but they were on to something even back then. do you touch nvidia even though it's down today at $709? stuart: are you asking me? if. lauren: in general. their sales are expected to increase 60% this year. that's great.

they trade at, i'm getting technical, 35 times 2024 earnings expectations, but the s&p 500 trades at 20 times that. so i'm saying it's not a cheap stock. but is it a growth stock? yes. is it also a value stock? do you hold it thinking, yes, it's the easily going to $825 and to $1100 as is the highest price target on the street. stuart: are you going to buy it at $709 a share? lauren: i'd rather get arm at $185. stuart: the jetblue, big pop for them. no surprise. carl icahn's bought some of it. lauren: he took a 10% stake and he's talking to the board about getting a seat on the board. he says shares are undervalued. twa back in the '80s, ultimately it did file for bankruptcy. now he's tying with -- toying with jetblue. and this is happening on the first day of their new ceo, joanna garrity. can you marge your first day at work and you're dealing with

carl carl icahn and an activist investor. she did pledge if aggressive action to return the airline to profitability, so i guess she's listening. stuart: $6 a share for an air a linelike that? that's a low price. let's get to bitcoin. i saw them earlier this morning at $50,000 a pop and now they've gone to 49. when was the last time they hit 50,000? lauren: it was two year as. ryan payne said last week it was animal spirits, it would make sense bitcoin hit $50,000. but bernstein calls it fomo, fear of missing out. the spot bitcoin etf has been approved, it's been around a couple of weeks. it's a catalyst for investors looking to get in, especially young investors but all investors. some of them view bitcoin as novel. obviously, digital and global, right in it's not tried -- tied to a specific chain or company. stuart: didn't see that coming. lauren: where does it go from here? stuart: i have no idea.

[laughter] thanks, lauren. take a look at this headline, my memory is fine. another unforget unforgettable denial of reality. gerry baker wrote that. i'm going to ask him -- he's going on the on the show. i'm going to ask is him, does anybody believe joe biden can serve for five more years? trump asked the supreme court to put off his election interference trial. he wants sweeping immunity. should he get it? if former acting attorney general matthew whitaker on that. a washington post op-ed issued a warning hate of valentine's day. quote, skip the roses, they're damaging the planet. you know there's going to be some backlash to that, although a lot of guys will be happy. lauren: i don't like red roses. stuart: we'll be back. [laughter] ♪ every rose has its thorn just like every night has its dawn ♪

stuart: look at the market. this is a selloff. the dow is down nearly 400 points. that's actually the worst day, it's having the worst day of 2024 so far, down 393. nasdaq's down 283. a group of climate activists arrested outside biden's campaign office in delaware. what happened, lauren? lauren: so they want biden to cut off all fossil fuels and declare a formal emergency for global warming. watch here. >> all a we're asking is that you declare a climate emergency, that you stand with us and fight for a future and that he make good on his campaign promises. he's promised to end offshore drilling. he's promised to ban the -- [inaudible] on public lands, and he has failed to do that. this is his legacy. this is joe biden's legacy.

lauren: passionate. stuart: how can you not laugh at that? i'm sorry, go ahead. lauren: yeah, so this is the bind that biden is in, young, many young people are passionate about the environment, and today don't think he's done enough. on day one he canceled keystone. he's demonized the fossil fuel industry, and he has not supported the transition to green energy. stuart: who say that is? if who says that? if the left? lauren: yeah. no, i say he hasn't supported the transition. eventually, yeah, we're going to be in electric vehicles, we're just not there yet on a comfort or pricing level. and he's basically saying mandate it, you should do this, you have to do this, he's made it more expensive. so a lot of young people and green movements say you should just declare a national emergency when it comes to climate change. when you do that, you can bypass congress and take executive action. stuart: right. lauren: my point is he kind of has taken executive action by making the green transition a mandate and not affordable. stuart: that young man, does he understand what emergency action does to democracy?

if. lauren: i don't think he cares. stuart: who cares what the people think. don't care, doesn't matter. that young man doesn't care. lauren: and he was arrested, as were 20 others. stuart: you want to feel even worse? look at this, an op-ed in "the washington post," here's the time. on valentine's day, skip the roses. they're damaging the planet. former epa chief of staff joins e -- me now. explain to me, please, how roses are killing the planet. if you can. >> stu, this is breaking news. roses are not killing the planet. but what the climate activists are trying to do is find a reason to ruin your day. they really thrive off of guilt and fear, and this is the latest rendition. i read this article, and my heart went out to the author of it. i feel like she needs a hug and a dozen roses to make her day feel better is and to carry on. [laughter] stuart: okay. let's change the subject because of i've had enough of the less roses thing. the atlantic claimed, that's a mag sine, it claims if trump

were reelected, we'd have four years of massive carbon pollution, and america would lose the climate race. now, you were in trump's epa. what's your response to that? >> yeah. this is completely removed from what actually happened. during four years of the trump presidency, he cut regulations and continued to reduce emissions across all levels. air pollution continued to fall, water pollution continued to be reduced, and greenhouse gases, the united states continued to lead the world in overall emissions reduction are. and what we proved in the first four years of president trump and we'll prove again if we're given four more years by the american voters is that you do not have to choose between a growing economy and improved environmental outcomes so long as a you focus on tangible improvements that make a difference and you get away from the fear mongering, you get away from the rhetoric and you get away from overregulation that takes away freedoms but does nothing to actually improve the air we breathe, the water we

drink or the soil that we plant if our food in. stuart: we're all going climate crazy, i think. okay. mandy, i'm going to go out and buy some red rose, and i'll find somebody to give them too. [laughter] >> i think you deserve it. stuart: i don't know about that. see you soon, mandy. good stuff today. okay, here we go. one more for you. lauren: one more. stuart: new york city has a new target in the latest green push. don't tell me, tide pods? lauren: it usedded to be because the kids were eating them, remember? but with now they're bad for the environment. they, there's pva in them. it's a plastic that becomes a microplastic during the wash cycle, okay? some scientists believe that was pollutes the waterways. a myself councilman who was almost 70 years old, not young, has a bill to make selling them illegal in new york city. you get caught selling them, $400. caught again? $800. one more time, $1200. caps at $1200, by the way. if approved, this would go into

effect of january, 2024. stuart: is it just tide pods? lauren: i think the laundry sheets as well, the anti-static -- stuart: everybody's going to go out and buy massive quantities -- lauren: in new jersey. stuart: in new york city, and then they'll go to -- lauren: i get all my puff -- stuff from amazon, how would they police -- stuart: good stuff, good story right in. the roses are for you maybe. lauren: oh, thank you. i like yellow. stuart: the 10-year pressure trt up this morning. 4.25 is the yield on the 10-year right now. the price of gold coming down even though we've got inflation ticking up. $2 ubz 010 -- 2,10 is 10 -- 2,010. bitcoin ors 48,8 as we speak. the price of oil, not doing much recently, $77 a barrel at this moment. coming up, identity politics

helped biden get elected in the first place. it is identity politics that helps keep imat the so much the ticket. how about that in that's my take, top of the hour. more than 32 million people from west virginia to maine under a winter storm alert. a nor if east aer blasting the region with heavy snow. the fox weather report is next. ♪ ♪ ♪ mara, are you sure you don't want -to go bowling with us tonight? -yeah. no. there's my little marzipan! [ laughs ] oh, my daughter gives the best hugs! we're just passing through on our way to the jazz jamboree. [ imitates trumpet playing ] and we wanted to thank america's number-one motorcycle insurer -for saving us money. -thank you. [ laughs ] mara, your parents are -- exactly like me? i know, right?

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call for an information kit and gift. both are free with no obligation. stuart: it's a nor'easter, and it's battering the east coast with heavy snow and freezing temperatures. van misdean joins me from the fox plaza. jan initiation how much snow is the northeast going to get? >> it's a good question. we already have snowfall totals over a foot in some spots. here many new york city, in central park i'm thinking maybe 4 inches. we were going for 4-8. i'll show you where the snowfall totals are the highest across the northeast. there to you go. so new jersey, actually, 13 inches for you. i think we'll squeak out over a foot for a lot of these areas, and we're kind of into the last

hoorah. this is a quick moving system, and it's still snowing to beat the band in some of these airports that are dealing with close to a thousand cancellations at newark and lagarde a ya and jfk, up towards boston. and, of course, that's going to cause a ripple effect across the country. we still have a lot of alerts, winter storm warning along the i-95 corridor. by the way, this is the first winter storm warning new york city has a had in over two years. we'll go through the afternoon hours, early afternoon, it will be out of here by 3 p.m., that's the great news. quite a bit of snow. in some cases we saw 1-2 inches an hour, and that's why we had a lot of delays on the roadways. some of the snow on the ground could be blowing because we have still the effect of the nor'easter in terms of wind gusts, so 30-40 miles per hour as we get into the afternoon. and we didn't talk about the flooding. because this is a very powerful storm system off the coast, that's going to push water inland, and that's going to

cause the potential for flooding from the delmarva all the way up towards connecticut. so that is the latest, stuart. i'm excited. we have not had a lot of snow in new york city for two years, so i take it. [laughter] stuart: some of my grand kids, no school today in massachusetts. >> nice. very nicely done. stuart: janice, thank you very much. >> you got it. stuart: biden says the u.s. is work on a new hostage deal that would pause fighting in gaza for six weeks. question, would that just allow hamas leadership to get away? kamala harris says, yep, she's ready to serve. are we ready for president harris? brian kill period on that. and is arizona now the epicenter of the border crisis? looks like it. sheriff mark lamb on that. the 10:00 hour of "varney" is next. ♪ if. ♪ ♪

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