♪ stuart: danger zone. was that in top gun? 30 years ago. it's freezing cold in new york. what's up with that? that accounts for the lack of people on the street. it is 10:00 eastern. to the money, looking at some green but not much of it, the dow is up one hundred 67 and there's a couple stocks in the dow 30 there is doing very well, the nasdaq is down 36 points. some big tech companies on the downside today. the 10 year treasury yield has been coming down following reek retail sales numbers released earlier today. back to 420 on the 10 year treasury. price of oil, $77 a barrel, big

story today is bitcoin, reached $53,000 a share, back now to 52-650 one. just after 10:00 eastern time, a read on homebuilder sentiment. lauren: it went up for points to 48 in february, the highest since august 2023. the reason is small declines in mortgage rates. they been under 7 since december. for buyers, for builders, a quarter of the marketing the price of homes they are selling. in january it was more like february, they have to cut home prices because home -- stuart: since the survey was taken mortgage rates have flipped back up again. 709 on 30 year fixed creeping back up again. that is all for that and now this. it is one week since special counsel robert hurr described

the president has an elderly man with a poor memory. that met with a firestorm, republicans and some democrats called for the president to step aside but he hasn't stepped aside and shows no sign of doing so. he's digging in and gathering some support. hillary vaughan asks democrats if the president is fit to serve. listen to this. >> president biden is absolutely fit, providing fantastic leadership. i has a history of being one of the best public servants this country has ever had and i'm very proud of him. >> no doubt in my mind the president is mentally fit. he is sharp, he's fit, always answering questions. >> i prefer an elderly man over an elderly man who is just chaotic and crazy and has 91 counsel waiting him. >> president biden has proven himself to have a strong memory. >> that was a partisan report, president biden has been absolved of any, no wrongdoing.

the only persons mental health that i'm concerned about is donald trump's. stuart: alexandria ocasio cortez insists biden is one of the most successful presidents in modern american history. they are circling the wagons, no surprise, the president is doing his bit too. no cognitive test, no release of the transcript of the interviews whether memory loss was reported to be. one week in, biden at this point is weathering the storm. democrats have little choice but to support him. biden won't step aside voluntarily. using the 25th amendment to get him out is not going to work and waiting until the convention in august is sure to leave it too late. it's a stalemate which means biden remains the candidate unless there's a dramatic event where the president is obviously incapacitated. that means president kamala

harris. second hour of varney just getting started. molly hemingway is with me this morning. i just don't see how biden can be president for another five years. how about you? >> we are in dangerous times. i was thinking while listening to hillary vaughan's interviews, merrick garland accepted the report from special counsel robert hur which said a jury would find him mentally unfit and if that is true and merrick garland accepted this as true, we have a president who is not mentally fit and he should be doing what he needs to do to support other cabinet members to help the country. this isn't a political issue. there's not a big hankering for kamala harris to be president but it's also true that it's a national security issue, someone whose memory losses are so severe. stuart: do you think he's going

to be the candidate in november? >> i didn't think he would be the candidate for 2,020 so i'm not good at prognosticating here. the problem for democrats is they don't have any good alternatives. president biden might not be the worst of them. even if they have people willing to say in private that president biden is secretly competent, the rest of america only sees what we see on video and what we see on video is not competence and that's going to be a problem each day of this campaign season. one remember when president biden lashed out at the special counsel for asking about his late son? >> president biden: there's some attention paid to some language in a report about my recollection of events. there's even reference that i don't remember when my son died. how dare he raise that? frankly when i was asked the question i thought to myself it was none of your damn business. stuart: a new report says

that's not true. that it was biden who brought up his late son, not special counsel robert hurr. we need the interview transcripts to prove it one way or the other. are we ever going to see them? >> not those the transcript but the audio. not only did president biden have trouble with recalling events in their interviews with him but you have to remember he has an incentive in an interview to claim he doesn't remember things but in his 2017 interviews with his ghostwriter where he had no incentive to lie he was struggling with memory issues than. that's quite some time ago. we've seen a great deal of decline since then. not just transcript but the audio would be important and the fact that he can't remember from october that he was the one who brought up his son's death and he was the one who struggled from every details about it and lashing out and getting angry at the special counsel even anger is a sign of senility in this case.

stuart: jim jordan wants to see biden's interview with his ghostwriter because he reportedly revealed classified information. how bad could this get for biden? >> exactly the situation. president biden when he was a senator, when he was vice president, when he didn't have declassification authority, the kind he has now or the kind that donald trump as he took these classified documents so that he could sell books and make money based on the information that was contained therein and we have this information that he was sharing this information with his ghostwriter. that's why i think it is important to get those documents. it not only shows what we are dealing with biden but the corruption of our doj which is letting off biden while trying to prosecute its primary political opponent donald trump. stuart: thanks for being here, we will see you again soon. george soros's son alex who is a powerful and wealthy democrat has revealed who he is dating.

lauren: he's 38 and dating huma aberdeen, the ex-wife of anthony weiner. remember him? former congressman, democrat, together, a progressive power couple. how do we know they are dating? that picture. they revealed that photo on social media. they were dining out in paris, table full of roses for valentine's day. stuart: going to move on from that. back to the markets. look who is here. gary count bomb is here. do you think this is just like 1999, the dot.com zoom, something of a similar situation with a big tech zoom right now? >> i hope so. my last few stocks, body 99, went up 3, 4, 5fold, call me very worried. we have something called in the markets at the end flow, two steps up, one step down in bloom markets, one step up to step down in bear markets and

right now you're getting names that are 20 steps up, one step down, getting a lot of froth and speculations so any time we get another few days like we had tuesday, i hope not but just call me a little bit worried because when we make 30%, 40% in mega caps in a month to 6 weeks, that's great news because it also means very far very fast. stuart: what about the second and third tier? is it time? >> a lot of software names have done very well, things like crowd strike, palo alto networks, there's plenty of others out there, my big thing is i'm just a big believer in how markets work normally. we are outside the norm. what i do see is definite moves

into small caps and financials, financial interest rates have to behave. tuesday, got trashed because rate spiked and the last two days rates are coming down so they are on the roof again. stuart: thank you, see you again soon. lauren is back looking at the movers. start with google. lauren: they are developing a web search service. the new project would reportedly use microsoft's being. google stock is down 2. 6%. %. stuart: fastening. paramount global. >> berkshire hathaway, warren about trimming stake in the company by 1/3. with shares in apple and chevron so paramount down 50%. we went amazon. lauren: as survey says half of jen z customers are actively trying to spend less money on amazon because they think it's too powerful and they don't

like the mass appeal. they like more targeted brands. 20% said they dropped their prime membership enough another brand could compete. walmart and target could compete. stuart: thank you. the house is holding a hearing on how the military plans to outpace china. we expect to hear testimony on plans to prioritize ai to combat china's growing advantage. new intelligence suggests russia is planning about nukes in space. lieutenant grant newsom on this national threat next. during my entire life i have been somewhat of an outdoors person. golf, gardening around here. how can i stay out of the sun?

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stuart: market check please, the dow is up 185 points. there's a couple dow stocks moving the average sharply higher, nasdaq is down but the house is holding hearing on how our military plans to outpace china's rapley growing military. alexandria half is with us. are behind that is behind china monetarily? >> reporter: in terms of size yes, but in terms of capabilities we are still ahead but maybe not for long. the major concern being are we being outpaced, china is working on a plan to modernize their military by 2,027. china overwhelms our numbers in all domains, land, air, maritime, space and cyberspace. us officials have called the prc a pacing challenge, the house armed services committee zeroing in on the department of

defense initiatives to ramp up strategic us military production. among those who will testify today is the director of the defense innovation unit and one initiative expected to prompt questions is called replicator. in artificial intelligence drone program designed to accelerate the delivery of thousands of unmanned watercraft to fighters. it's bold but there's been doubts the pentagon is able to deliver on this. that political article because it confusing and disorganized. on ai, senator mike rounds told jennifer griffin in december the technology has to be prioritized if we want to keep pace with china. >> we will never meet their manpower demands. we have to use artificial intelligence. we are using it today, but there is no way that we can win and keep our country safe if we do not have absolutely the best artificial intelligence capabilities at all times.

>> reporter: opening same and still being made, testimony is about to begin and we will keep you posted on that. >> and reports has russia is installing nuclear capabilities in space. first question. of the russians are developing them don't we have them already? >> you would like to think so. we have the technology and the know how but we allowed ourselves to take a break for the last 20, thirty years. we know how to do it but we've not weapon iced space the way the russians are and the way the chinese are which is just as bad if not worse. stuart: you mean to tell me we don't have some kind of device that could shoot up into space and destroy chinese satellites? we don't do that? >> we could go after chinese satellites, we could do that but if we are talking about

nuclear weapons particularly the fractional orbital bombardment systems which means away to put a missile into outer space and have it come down in a way we can detect easily or intercept it, the area of hypersonic's, hypersonic missile, we've known about this but have not done what we need to do. we have good anti-satellite capabilities but the to chronology has gone beyond that and that is where we allowed ourselves to get overtaken. stuart: we should have a word of caution, the russians haven't built anything yet, they might be exploring this. speaker johnson says there is no immediate threat. we shouldn't go overboard with nukes in space, they are not here yet, are they? >> that's right. we don't know what the russians have in mind. will they put a nuclear weapon out there? is there a nuclear powered

antisatellite system they are going to test? we don't know. i have a feeling, given the reaction of the rest of capitol hill and the white house as well, once the information comes out on this when it may be a let down. maybe things we are already no. it is a serious problem but at the same time there seems a bit of politics with representative johnson announcing it when and how he did. perhaps a way to help the ukraine support. stuart: you've got a new op-ed, the us exit from afghanistan was bad, look what's brewing in the pacific. what is brewing in the pacific? >> the us is in danger of losing its sole and complete access, control of the central pacific. the chinese are on the verge of just stepping in because we are not doing what's necessary to

pass through treaties to support micronesia and the marshall islands. it held up in congress, there doesn't seem to be any measure any method for getting this past. congress and the white house are not doing their job and the chinese are standing by and telling locals the americans don't like you enough to pass these bills, they don't like you enough to give you the money they promised, we are here, we have a blank check, we will send as many tourists as you want, give you one hundred million dollars in infrastructure spending and there is more. so that's what's happening. by default, malfeasance almost, we are allowing the chinese to get into the central pacific. try defending against china from the western edge of the pacific without control of the central pacific and it's going to be a hard thing to do. stuart: thanks for joining us, appreciate it. the household a vote condemning

hamas's use of rape as a weapon of war. this should have been a unanimous deal, shouldn't it? someone didn't vote for it. ashley: yes. can't believe we are talking about it but when it came time for rashida tlaib to vote on that resolution, condemning hamas's terrorist use of rape and sexual violence she merely voted present. she says she was disturbed the resolution, quote, completely ignores and erases any sexual violence committed by idf forces, claims that are unsubstantiated. the resolution introduced by representative lois frankel from florida says shockingly and alarmingly, hamas's violence has been met with a shrug from many corners of the world and calls on all nations to come allies rape and sexual assault and hold those accountable of all perpetrators of sexual violence. the resolution did pass

400-1820 but just rashida tlaib voting present. stuart: i will leave that alone. trump held a rally in south carolina last night. who is that on stage with him? the rally in south carolina. lauren: coming up. don't see anybody yet. it would be tim scott. thought you are asking a trick question. there he is. tim scott. i think it is fair to say all this is part of tim scott's audition for vpf you will. >> four more years of donald trump means law & order and the streets of america. the one president that keeps world peace a reality is donald trump. we need a president who stands for american values, not a president who sits down and can't remember exactly where he is.

stuart: word his they are very compatible, they like each other, trump and scott. scott is not obsequious. trump doesn't like people who suck up to him. he was very strong right there, tim scott, commanding get a, but was he in this presidential election, how would he do in a debate against kamala harris? stuart: he was different when he was campaigning for himself. a very important pick because whoever donald trump picks in the event that he wins, that vice president has a shot at 2028. lauren: he comes from south carolina which is a solidly red state so some are saying trump would try to get a battleground state vp pick. stuart: my money is on sarah huckabee sanders. homebuilder sentiment rose to the highest level since august 2023, but mortgage rates are taking back to the 7%

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stuart: we will check big tech. that's where the money is. meta is the sole big tech stock, one%, 478, the rest are down. microsoft, apple, amazon, reading crate there. lauren has the movers, start with coin base. lauren: bitcoin and crypto currencies rallying today and jpmorgan has upgraded coin base to neutral from underweight but they say crypto currency prices are firming and they got an upgrade. stuart: children's place. lauren: the stock was up one hundred 50%. a saudi investment firm

accumulated in 3 days time 54% stake in children's place and they plan to nominate a new slate of directors, saying children's place is teetering on the brink of bankruptcy and in three days this rich family out of saudi arabia comes in and builds this $80 million steak. stuart: you seem outraged. lauren: i am surprised. at the head scratching investment. stuart: the stock was way down. lauren: the saudi's getting into different pockets of the economy. stuart: golf and soccer and all kinds of things. shake shack at a high surely. lauren: pricing power, traffic remain strong defying an industrywide slow down. fast food giants can't say that now, stock gained 80% since last year continuing the upward momentum. they have the self-service chaos to save time and always a

new menu item people like to go in and try. stuart: attention realtors, the segment is for you. when you get back to the homebuilder sentiment, rose to the highest level since august of 2023. mortgage rates are taking got, 7. 09% of a 30 year fixed, that's good news for you guys. >> we need mortgage rates to fall. we are off of our highs which is good. we saw them of the life also good news. builder sentiment has reflected those lower interest rates, people started to come back and get into the market but it's going to be an uneven ride between now and the recovery were to straight settle down in 2,025 so not surprising we see this but we expect them to start telling back townson. stuart: home prices started to take off in 2,020 and went right straight up since then. and now are calling this a housing bubble. is a bubble? >> i don't see it as a bubble. i think people are trying to take lessons from the 2008

crash and bring them forward 20 years and i don't see that happening. what we are facing is a crisis kind of of our own making coming out of the recession. billers bill is representative to get back in the market in a big way, too much supply and the market, regenerating that boom in the market we had in the 2000s so once we started to bring back our supply, we got into land-use policies being very restrictive, persistent labor shortages, then ran into supply-chain issues, that's where housing continues to stay high for a while and the only way out of it is to build more housing. stuart: that's a great deal of money being made in the stock market. sometimes that transfers to the real estate market. a lot of people are waiting for the housing bubble to burst so they can use their capital from the market to jump in there but you are telling me they are not going to burst. stuart: i think investment will

flow into housing because there's money to be made in more supply, not because of a crash or crisis, that's what i think is going to happen. i think when rates settle down there's going to be an opportunity for people to get. we hope it is homebuyers, speculation drives the froth in that market. the main thing is making housing affordable so more americans can get into homeownership. stuart: you are seeing a few people who made money in the stock market using it to get into the real estate market with high end stuff. >> we are in the high cost market. you can move south to the carolinas or florida, they are paying cash and driving up the cost. stuart: a question i ask frequently. what the average size of homes being built today? ten years ago they were getting bigger and bigger but the trend reversed and they got a little smaller. is the smaller trend in place?

>> smaller homes in place, 2300 square feet with of the average close to 2100 and that is a symptom of a smaller house cost less making it more affordable. people are shrinking their desired footprint to afford the home they want. stuart: 20 one hundred square feet. try to imagine, two bedrooms, two bathrooms. >> three bedrooms, that's right, to add a half baths, garage. when it has come down to that. little bonus rooms, remember that? >> that was a symptom of covid. people wanted gyms and home offices lodz there is still a trend for conversion of a bedroom into places they work out. stuart: why are you laughing? bonus room. lauren: it's a nice place to be where you can have a bonus room. stuart: i always said i would never buy a house with a bonus room. that's a room you that the room you don't know what to do with. always good to see you.

thank you very much. the federal government will pay people's rent in two states using medicaid funding. which states and how come we are using medicaid money for rent? ashley: the first two states to roll out the programs this fall will be arizona and oregon. the biden administration is allowing states to emblem and a new medicaid waiver program that will pay for housing fees. the rental assistance will come in several forms including a 1-time payment to help cover a security deposit or to pay for rent and utilities up to 6 months. quite a deal. it is all part of the government's initiative to reclassify homelessness as a healthcare issue. the program includes people currently homeless or risk of losing housing and people with mental illness. new york, california, hawaii, washington all applied for the program. the number of homeless americans hit a record high in 2,023 last year just as rent

prices have reached their most unaffordable levels ever. stuart: thanks. joe rogan slams the media for defending biden's mental capabilities. entertaining, watch this. >> gas lighting the about something that is so in my face how can i trust you. if you won't tell me that you think something is up right here, this thing that's right in front of our face. we want rogan says nobody really believes biden is fit to serve. we will get into that. why are car insurance rates soaring this year? jeff flock has the story from a not a repair shop, the right place to be after this. ♪

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stuart: interesting market the dow is up one hundred 60, the nasdaq down 30 points. why is the dow up? goldman sachs, chevron and jpmorgan, all three dow stocks, adding 75 points to the dow industrials. elon musk move space x out of delaware. i think i know where he is going and i'm convinced it is texas. am i right? ashley: you are absolutely right. moving his location from delaware to texas following a ruling in the delaware chancery, to overturn the ceo's pay package that was worth $56 billion in options. another one of musk's companies, neural link, has begun moving his location from delaware to nevada. ever since his salary setback,

musk made no secret he wants out of delaware. he's also encouraging other businesses to do the same thing. musk is expected to repeal the delaware ruling on his salary but even if the ruling stands, he will only loses options but not any shares he previously held. stuart: we will take it. thank you very much. car insurance rates surged in the past year. jeff flock is in an auto repair shop in pennsylvania. can you tell us what's behind the surge in premiums? >> reporter: it's not inflation. technology. you are looking at a subaru, they are doing serious repair work. centers, cameras backup sensors, cameras all over the vehicle.

cars are great these days but when you bust them look at the numbers on the average insurance claim upwards of $6000. that's a 64% increase over the last decade. the factors in all of this, the technology, the use of aluminum, more expensive to repair, harder to repair. evs a big factor, they cost more, $2000 more for the average repair, and distracted driving has led to more claims because we've got big screens on our dashboards, some people use their phones while driving. some people do. i know you'll want to know where the most expensive and cheapest auto insurance is so we got that answer. florida and new york, most expensive places to ensure car,

vermont and idaho, two places that are perhaps the cheapest. you want to save money? stuart: not much traffic. it is the open road. i think it is anyway. you are all right. see you again soon. send your friday feedback. want your questions and comments and critiques. go to varneyviewers@fox.com. look at this op-ed. democrats lasher legal immigrants with valentines. citizens take the arrows. murdochs is the left is prioritizing illegal migrants and treating americans like second-class citizens. he is next.

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stuart: the dow up 167, big tech not doing well. show me bitcoin, that's doing well.

it moved up to $53,000. that's a solid price for bitcoin. the number of foreign-born workers is outpacing the number of native born employees in america. edward lawrence has the story. why the decline in nativeborn workers. >> reporter: two things happening in the job market, starting to hear about those layoff announcements from companies. the biden administration is trying to figure out a way to get the illegal immigrants who crossed the border work permits to work in the united states. the labor department showing the latest data, number of people working in the units exploded since 2020. foreign-born workers up 2.8 million people while native workers born here are down one hundred 20 one thousand. this came at a house hearing at the congressional budget office, they are working through total costs of the current illegal migration.

>> since illegal immigrants are lower wage workers flooding the labor market, what does that do, for working americans. >> new immigrants would tend to go into industries that will lower the level of productivity and lead to lower wages on average. >> lower wages for working families. >> reporter: the listed companies announced layoffs. wayfarer and citibank, they are concerned about the layouts, the treasury secretary trying to convince people the economic conditions are pretty good. the treasury secretary, some prices higher than pre-pandemic. wages going down in 3 months so people should feel better than they did last year but these

are the images on screen, americans seeing people illegally flowing into the country across the southern border as prices remain higher, wages down 2.1% since president biden took office and companies as you see on screen are starting to layoff workers. stuart: take a look at this headline, democrats lavish illegal immigrant with valentines. citizens take the arrows. let's break this down. new york city, what does an illegal migrant -- migrant get in the city? >> a few blocks at the roosevelt hotel on new year's eve coast-to-coast, they get housing. a lot of people getting free food, some getting $53 million in debit cards for supplies and tree food. some get legal services and free stuff.

we pay for them if we want them ourselves and also -- stuart: to be get phones? deroy: president biden gives them free cell phones. stuart: housing, what about education? deroy: they are coming in, seats the nativeborn americans out to be filling. a lot don't speaking. they are speaking all sorts of exotic languages we don't have translators and teachers to teach these languages. that an increasing problem beyond english and spanish. stuart: this is obviously taking a lot of resources to pay for this stuff. that means citizens, nativeborn citizens don't get the same stuff illegals get. a stark contrast. deroy: the program to give one thousand dollars a month which is $12,000 a year to families

of kids of illegals and $53 million programs going in, mayor adams has $600 million from the food budget of the education department. boys and girls k-12 in the city used to enjoying decent food items like chicken thighs or salads and being told you can't have that, that's too expensive, you have to have pizza and peanut butter and jelly sandwiches, $53 million of free stuff to people breaking into the country who don't belong here. taking $60 million from them. stuart: where's the outrage? democrats just won and election. the border situation around you. deroy: if you're in new york city schools, a chance that your mom and dad are democrats, they voted from mayor adams and your kids can't have good food, take 60 million away from them

for people who broke into this country. stuart: speaking of outrage, joe rogan went after the media for gas letting us about biden's mental fitness, do you trust the media to cover biden fairly? deroy: not at all. they used to be fair but they are not should of the biden campaign. they might as well be biden reelection headquarters. we heard about the mental deficiencies of president biden but he is saying i am fit and on top of things, democrat lawmakers are saying he is the sharpest tack since fdr. stuart: rallying. deroy: until he steps aside, looks like he will be the nominee, his digital and electronic bodyguards. stuart: the new york times has ditched him. a few columnists saying step aside because you can't win. it lost the new york times

which surprised me. deroy: unless they invoke the 20 fifth amendment they can't get him out. president biden wanted this job since the 1970s, he's got it and he wants it, the first lady wants it. unless he is physically unable to do it he's going to be the nominee. he is the candidate. stuart: always a pleasure. still ahead. tony robbins on where people should turn for career advice. chatterjee pt or their boss? brian brenberg from a new york times focus group finding 11 of 13 independent voters would choose trump over biden. lou basenase next. ♪ ♪ ♪

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