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tv   Varney Company  FOX Business  February 20, 2024 10:00am-11:00am EST

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stuart: it is not quite so -- neil: presidents' day week. stuart: it is 10:00 eastern. straight to your money please. the moderating market except it is sharply lower down one hundred 77 points, more than one% lower, the dow only 30 points, the nasdaq is the big easy today, 10 year treasury yield is down to 4. 26%. the price of oil $79 a barrel, 7940 one right now in bitcoin coming through, $52,000 per coin. the markets. it is desperation. another state wants volunteers to take migrants into their homes. michigan's to part of labor
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wants homeowners to pick up migrants at the airport, take them home and commit to a 90 day stay lose they will be asked to help with employment and children in school. the state's chief equity and inclusion officer says expanding refugee resettlement pathways and power more michiganders to support their state's growing refugee population and build a welcoming and inclusive michigan for all. we have previously reported on the massachusetts program, one couple in massachusetts took in a chilean family of four, jessica and collins stokes says the families very appreciative and. individual in boston has taken an asian family. they are hard-working and want to be successful. i would expect volunteer programs to expand. the authorities are fast running out of options so appeal to the charity of generous americans. you can see the problems coming a mile off. what happens if the migrants
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behave badly? what do the neighbors think? what do the overloaded schools think about new enrollees who probably don't speak english and there's always the thought that the better the treatment they receive the more will come. in 1975 at the end of the war 125,000 vietnamese migrants came to america. many were resettled in volunteer private homes. it was a successful program but the numbers were nowhere near the millions we have now and there was no threat of more to come if the treatment were generous. the fact is the size of this migration reduced the authorities to desperation. more states will probably ask for volunteers and many generous charitable americans will probably come forward but it will not reduce america's anger feel about the open border and refusal of president biden to do anything about the crisis he created. second hour of varney just getting started.
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sean duffy with me this morning. what do you think about these volunteer programs to put migrants in private homes. >> i think you made a good point. the war in vietnam, refugees had no place to go, to protect themselves from the communists, we took them in. a massive earthquake in haiti, some haitians in. refugees are coming from around the world, they want economic opportunity. some are gang members. we call them refugees but where are they coming from, these are just people around the world who want to come to america, to think we are going to put them in american homes and bear the cost as federal taxpayers this makes no sense to me and you are right. americans doesn't make your community more inclusive and better off. it's going to be more divisive for your community, when you
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want to look at minneapolis-st. paul or michigan, those communities have been divided because the migrants who come is an don't necessarily share american values of those who lived there before the migrants got to their state or their city. stuart: it is an intractable problem and the numbers won't go down, they keep coming. the volunteer programs will expand because they -- the authorities are running out of options. i think they will expand. next case. >> as long as they expand to where the liberal live that's a beautiful thing, probably have spare bedrooms and bathrooms. taken out of rich neighborhoods and gated communities and see how long that lasts. stuart: officials, biden officials are using next month's state of the union address were reset for the campaign. will that work? >> the campaign is not going well.
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president biden has difficulty communicating at a number of speeches. it's a great idea to say we will reset, the state of the union is a great time to do that. it is a speech he will have read time and again, this wild raucous set of supporters in the house and senate that will be watching. the problem is you need a president who can deliver it and deliver it well, we've seen president biden slide recently, the performance may be in question, how well he's doing the state of the union but this is an opportunity to hear your vision and your plan for the future of the country and he will call out people from the gallery he brought as his guests, a great way to deliver where you want the country to go. stuart: you can't reset the campaign unless you reset
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policy and address failings. i don't think he will do that in the state of the union but i've got to talk, wait for it. i know you want to talk about it. 50 one thousand $900 a coin as we speak, this is your chance to gloat. go ahead. sean:you are telling me yourself we got to 30,000 a coin. i did it, i did take your advice. if you look long-term i think i am bullish on bitcoin. a lot of money has flown into etfs, you have an event that will probably come in late april or may when the bitcoin miners will get half the bitcoin reward they get right now. it's going to affect the supply and demand of bitcoin, demand rising so it could go to one hundred thousand, some have said 200,000 but in the long run my concern about the us dollar, the us debt, the printing machines in the us, there's only going to be 21
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million bitcoin. when we think of value, things have value because we say they have value in bitcoin, the community has said it has value, you see smart money coming into bitcoin which makes me a bullish buyer. stuart: you had a chance to gloat and you didn't, good man. we will be watching you tonight with dagen mcdowell on the bottom line at 6 p.m. eastern only on fox business. now this. senator elizabeth warren could not expand why voters miss the economy under trump. >> why do you think all these polls show a lot of voters look back on the trump years and think the economy is good? >> i can't explain polling. i can't. i can't explain how narratives come to be.
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i can't explain how sensitive are they. stuart: we need scott shelladdy. i take it you were watching senator warren. they will never give trump any credit, will they? ever? >> no. they will threaten and discredit him at every turn. we saw what he did, all the things that he reversed and how much trouble that has gotten us in, the fossil fuels. i will tell you another thing that strikes me when i watch what she had to say. she's lost track of common sense and the common man. i talked to a lot of people. i leave my echo chamber on the weekends. 15% of america owns 85% of stocks. that would mean 85% of america owns 15% of stocks. if that's the case the man on the street doesn't own many stocks if he owns any stocks at
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all. they probably don't have large real estate holding and own a lot of stock, there has never been better market than right now. the gap between rich and poor has exploded but if you are the man on the street living paycheck to paycheck you rent your home, don't have a stock portfolio and own no real estate you never had a worse time and she is so blind to that fact that she can't see how the common person is struggling mightily, she's lost total track of common sense. stuart: nvidia reports tomorrow. expecting another blowout report? >> reporter: i like to see it being a good report. at some time you're going to see some sort of pool back. i like technology. if i am speaking on a purely personal basis i want to see it
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come back a little bit but talking about this on your show over the last we 10 years this could be the knight in shining armor that saves the economy. last time this happened was during the dot.com era, we could probably get our house in order again. stuart: that is a very optimistic point of view. see you again later. we look at the movers starting with supermicro. >> ai cloud storage, as nvidia goes up it goes up, supermicro shares up 182% this year. 730% in the last 52 weeks. stuart: some nervousness ahead of nvidia? lauren: taken down the other ai plays that enjoyed its game. they are length. some micros down 20%.
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stuart: global foundries. lauren: they were awarded one. $5 billion to build a new semiconductor production facility in upstate new york and vermont, part of the chips act. stuart: let's see, global founder, intuitive machines. stuart: it made the moon. that separated from the space x rocket last week to have the first private moon landing in 50 years. is making progress, on track for the touchdown, it's called mission i am one, scheduled to make a soft landing with images and information. stuart: elon musk just gave an update about the first human patient implanted with a neural link brain shift. i know the patient is doing fine. my interest is what can the patient do?
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lauren: you can hear inulin musk's own words. >> the patient needs to have neural effects and is able to control the mouse by thinking. to go against as many button presses as possible. that's what we are working on. lauren: this person, this patient is about to press buttons but eventually, electrodes and a patient's brain that move their limbs, the motor functions increase so the goal is a paralyzed person would be able to walk again maybe just by thinking. elon musk says it is like replacing part of the skull with a small branch. one an enormous breakthrough, a computer chip, the person can
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move a mouse by thinking about it. lauren: elon musk is getting some criticism for his this. imagine that? a lot of people are nervous where you can go with this, it's too new, too fresh. approved for one person to be implanted thus far to see how everything goes. elon musk is moving forward with this technology. lauren: looking at this guy to help me down the road, president biden says republicans are making a mistake when it comes to aid for ukraine saying they are walking away from the threat of russia. congressman darrell lysa responds to that. new video shows migrants scaling mountains in southern california. bill melugin has the report from the border next.
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stuart: look at this. large groups of migrant skill down a steep mountain trying to get into california which is a new hotspot for illegal crossing goods. bill melugin is there. where they coming from? >> reporter: all around the world. new numbers for contacts as well, 6700 migrant encounters at the southern border and 208 chinese nationals. right to the video we are talking about, the mountain behind us, remarkable to see dozens of illegal immigrants scaling the mountain from the
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mexican side and climbing down it into the us, they were part of more than one thousand 200 illegal crossings in san diego yesterday. some of the people from central and south america. others from china and the middle east. we also found a hole in the border wall. listen to all this. where are you from? >> colombia. >> colombia. >> brazil. >> kazakhstan. >> china. >> reporter: where you from? >> kazakhstan. >> curtis stan. curtis stan. heardis10. >> reporter: look at this fentanyl bust. >> mass illegal crossing area, show you one of the reasons why. people from all around the world are picking this spot because the border wall right
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here abruptly ends at this boulder. nothing left passed these rocks, the migrants are able to climb appear and than they are in the us. that's all there is to it. you see clothing, paperwork, food and bottles all over the place here. >> reporter: look at this huge fentanyl bust, cbp officers seizing 360,000 fentanyl pills at the port of entry, 33,000 were strapped to the body of a drug smuggler. another 330,000 as well as 5000 pounds of pure fentanyl powder were found smuggler now spare tire for drug smuggler's vehicle. back here live, listen to this, cbp sources telling fox news over the last three days in san diego, 452 chinese nationals have been apprehended. those three days are all of fiscal year 2021 chinese
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apprehensions when there were 450 across the entire southern border. back to you. stuart: good stuff. what is going on here? congressman darrell lysa, republican from california joins me now. you represent the san diego border area. you say things have gotten far worse. you heard 452 chinese nationals crossed yesterday in the san diego area. what is going on? >> reporter: i will be with bill tomorrow, the rest of my district, he was in my district when that happened. other holes in the wall but more importantly what we are going to see is the effects of being welcomed by this administration. in the fourth year of that welcome wagon you see greater numbers from countries where there has to be a lot more planning. to get out of china you need an exit permit so china is letting people out to come into this country but i have been at that border wall seeing military age russians, syrians, sudan, named
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the country, we've been able to see them in our visits, that's one of the things that separates us from the texas border, we get a more eclectic group of people including, as you noted, we have a huge amount of drug smuggling coming through. stuart: it seems like governor abbott in texas has successfully sealed off at least part of the texas mexico border. they are coming around to get into california. that is what is happening here. >> exactly. the word is out. even if he can't completely stop it the word is out the texas is not friendly to the process but california is very much welcoming although it is drowning our cities just as it is new york and others. stuart: state like michigan, massachusetts are asking private residents to how these migrants and their own homes. would california consider something like that? >> reporter: california has been generous for a long time.
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when the hungarians were taken by the russians decades ago, tremendous amounts were brought in. the problem is this is not one time. this is not refugees. this is 6 billion people who live in comparative poverty keep coming and unless we change this we've got to look at how many out of 6 billion will come over the next 10, 20 years. that's what is present is doing, turning our country over to the rest of the world which is frankly a new twist on treason. treason usually involves one foreign country or couple, this involves the entire world he's betraying us to. stuart: president biden says republicans are making a big mistake when it comes to aid for ukraine. wallet please. >> mr. president, would you go as far to say this is on the house of house republicans right now? >> president biden: they are making a big mistake in not
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responding. they are walking away from the federal budget, the way they are walking away from our obligations. i've never seen anything like it. stuart: at the president. where do you stand on sending more aid to ukraine. >> i support pushing back russian chair randy. i stood on that wall. i've been there with nato. i served ten years on active duty. the fact is what he's comparing is his statement he only wants to do what he wants to do rather than what we want to do which is protect us from enemies foreign and domestic, protect our border, protect israel from its problem and very clearly deal with russian aggression but if you are not willing to protect america from all of its enemies, foreign and domestic don't come to us and say i'm going to pick and choose, i'm going to say i will have ukraine, not quite fall
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but not actually succeed, in fact america is being flooded. we have to protect it all. all we've done is said we want to do all of them. we want to help israel in time of need, we very much want to make sure russia pays a heavy price for its aggression and secure our borders. that's what our speaker has been saying, we are on the second speaker that's been saying out loud and clear, the president hears it but just doesn't agree. stuart: thank you for joining us. prince harry says he's willing to return to his royal duties of his father asks him into. there are reports prince william might block harry's return. neil sean on the royal split inexorably fourth-generation farmer slams the white house for sending billions in aid to ukraine, he says the president putting foreign affairs ahead of struggling farmers who face extinction. that seems stronger to me.
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stuart: look at nvidia, it's down 5. 8%. it reports tomorrow came serious drop for a big-name stock, $42. look at big tech. lauren: they increase their price target from 750, $20,050 but the stock is still down. another piece of good news. stuart: i think the nvidia selloff has something to do with the big tech selloff. they are all down. maybe taking their cue from nvidia. alphabet down a fraction. apple down to 180, nasdaq at 400, meta-at $6, nvidia reports tomorrow. looking at other movers including mastercard. lauren: it is down with visa, down 3% now capital one is buying discover in a $30 billion all stock deal.
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that could take a slice out of payment processing market dominated by these two names. stuart: southwest airlines. lauren: they got two upgrades, bernstein goes all the way, $42 price target, they basically thing conditions in the us market have gotten a lot better. stuart: tesla down earlier. lauren: down 4%, downgraded at philip security to neutral with $175 price target. analyst says that near-term outlook for tesla looks quite bleak with the company set on sacrificing margins for a price cut. stuart: thanks. president biden facing more calls to step aside. how is the administration responding. >> reporter: the white house says the president is fit. the president says he's fit. 's campaign says he's raising tons of money, the president is going to do more of that, he' s going to california.
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's got some fundraising events the next few days, in los angeles and san francisco areas. the biden campaign announced the president's reelection efforts raised $42 million last month and has one hundred $30 million in cash on hand. the campaign says that's the highest total by any democratic candidate in history. the candidate faces significant head wents, sagging poll numbers, concerns over his age, democrats maintain the president can address that in next month at state of the union address. >> time to reset. time to address concerns, time to lay out a very clear message about where you're going to take the country. we are in an election year, 250 days before the election. time to start framing the election and there's only a few times the nation will listen. state of the unit is being watched. >> reporter: the president defended his competency at a white house press conference hours after the justice
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department released special counsel robert hurr's report declined to prosecute biden and describing him as a well-meaning elderly man with a poor memory. congressional republicans demanding the justice department release the transcription recordings of the special counsel's interview with the president as part of their impeachment inquiry. white house counsel's office is the administration will consider the request though there are issues because in that conversation with the special counsel the president discussed classified information. stuart: thank you very much indeed. my next guest is a fourth-generation farmer from virginia blasting their ministration for sending millions of dollars and 80 ukraine well farmers at home he says are still suffering. john, you say we are sending money to ukraine while farmers here face extinction. that's your word. that is a very strong word to me. justify extinction. >> african-american farmers, black farmers are facing extinction.
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1 million black farmers, 20 million acres of land this last census that came out last week says we represent 40,000 black farmers across the united states, 3. 5 million acres of land. we are definitely facing extinction and as relates to american farmers, all farmers are hurting and under this leadership, we are sending aid to ukraine but won't stop foreclosures for america's farmers. stuart: what do you want? debt forgiveness, debt relief? why do you deserve debt relief? >> we been trying to get debt relief are over two decades. it passed congress and this administration repealed the $5 billion in debt in debt relief. we see almost like 40 acres and a mule. we promise to get $5 billion for farmers who've been waiting
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for this relief for decades and this administration repealed it so we didn't get the debt relief but then i see $100 billion to ukraine, some of that money went to help ukraine farmers with taxpayers money. why can't we use some of those resources to help farmers right here at home in the united states. i look at the crisis at the border, complete chaos, the border should be closed, we have people coming to this country, putting them up in hotel rooms and expense cards but won't help america's farmers. something is totally wrong with that picture. we are american citizens, american farmers should come first. that is my message to the president which i had the opportunity to tell him, he needs to put america's farmers first. stuart: message received, thanks for delivering it to us on the program this morning, appreciate it. border workers say they are worried about biden's electric
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vehicle push. come en in. what else are they saying? ashley: autoworkers are worried about losing their jobs in an interview with the new york times, those autoworkers in michigan said eva products made with much less pam manpower to produce leading to tens of thousands of jobs being lost, one workers said, quote, it is scary right now with the whole electric push. this electric stuff is going to kill, just kill thousands and thousands of jobs. according to the times the biden administration now rethinking its green car agenda and is planning to delay a requirement oil companies increase sales of evs in the next few years until after 2030. not only have ev salesman in the tank but they are expensive to make of the average ev cost 52,500, the average subcompact car just around 24,000.
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ford alone projects a loss of 5 to $5.5 billion in its ev division this year. not only are they very expensive to make but no one is buying them. stuart: i see subsidies rolling into detroit. thank you very much indeed. still ahead do you have what it takes to live on another planet? nasa is looking for volunteers to stay in a mars simulator for a year. details on that coming up. existing home sales fell to the lowest level in 13 years with high mortgage rates and low inventory the american dream feels out of reach for many people. what can homebuyers do to best position themselves? ♪
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stuart: on the market so this morning, one hour in 12 minutes, a big drop on the nasdaq. it is down 1.3%. nasdaq is down. nvidia is down. not a good day for big tech so far. realtors being hit with lawsuits all over the country. lauren: agencies usually paid by the seller meaning they are not negotiated, they are split between buyer and seller's agents baked into the price of a home. a group representing realtors get sued, delivers $1.8 billion verdict.
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copycat lawsuits have been filed in many places. what students are trying to do is change the market and make, i was talking with katrina because this is a bold statement, make a real estate agent a relic of the past, if you can negotiate out of the contract. you won't have to do the 6% game or he if you can negotiate the 6% fee lower. the homewood go lower and the realtor gets hurt. blue one you would need a lawyer to negotiate the realtor out of the contract. lauren: i like how you think. lauren: lawyers always win. high interest rates keeping many buyers off the market but with interest rates looking to come down that could change the competition. how can a buyer make an offer that stands out? >> reporter: you are absolutely right. competition will get fierce but i have tips how to make your
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offer stand out but it's important to understand why this is happening. tight inventory escaping the housing market elevated. many homeowners with low rates aren't moving. i spoke to couple but on their home for ten years and they thought about remaining, what happened? what is keeping you from relocating? >> the interest rates, house prices are insane. >> reporter: look at this chart. when it comes to existing home sales as of december of 23, there's just over three months supply, balanced market is 6 months supply. i anticipate we could see an interest rate cut in march but most likely it will be may. that should lead to larger inventory and competition to get that dream home built. here's how to make your offer irresistible. this is what i share with my client. first, show you are a serious buyer with a mortgage, this
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demonstrates you can commit to making the sale happen. 2, making no contingency offer lets the seller know they will get to the closing table. many sellers typically favor all-cash office to close the sale quickly so if you have the cash you have a huge bargaining chip. 4, if you can't make an all-cash offer make a generous deposit on the house. 5, finally, be flexible with closing. of the seller needs to go quickly or stay in the home longer be willing to work with their timetable. stuart: i hope they are willing to work with me. >> reporter: lawyers are going to win. getting would've realtors and lawyers. stuart: the realtors are the future. please don't. please don't. my head will explode. thanks for joining us. see you again soon i hope. nasa looking good for four brave volunteers to help with a
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year-long study. they want you to live in a mars simulator. ashley: how brave do you have to be? for a full year, they have to do this. up to prepare for human exploration of the planet. the volunteers will live in a 1700 square-foot 3d printed habitat at nasa's johnson space center in houston budget includes four living quarters for each volunteer, work space, medical station, lounge areas, galley and food growing stations. just like life on actual mars there's going to be limited resources. the volunteers will go on simulated spacewalks and work to maintain the habitat, grow crops and work with robotics. to qualify, you have to be a motivated us citizen or permanent resident between 30-55, you have to speak english and have a masters degree in engineering, math,
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biology or other sciences. i am out. nasa says volunteers can be compensated for this mission in inverted commerce but they are not saying how much you will get paid but there you have it. for some people that could be a dream. stuart: thank you very much. kevin o'leary says he would never invest in new york because it is a loser stage. does the wolf of wall street agree? i will ask him in the next hour. twin brothers getting millions of viewers online for their new york style takes on inflation. here's a sample. >> these haircuts are mandatory $40, just paid $40. my car insurance in the last two years went from $220-$270. stuart: it's the accent that does it. the tiktok twins are here in the studio. put them on camera. they are going to teach me there accent and a few other
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stuart: take a look at this. identical twin brothers from step 9 is getting millions of views on tiktok for their heartaches on inflation. >> these haircuts are mandatory $40. just paid $40, when i was growing up it was $20. $15 haircut went a long way. my car insurance in the last two years went from 220, 2220 out of 320. i give them a call, there's nothing we can do. stuart: the twin brothers, jojo get that accent joining me in new york city. mostly the haircuts and inflation. do you deal with everything? >> we try to cover everything. we speak on what's going on. stuart: politics?
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>> not into politics. we want the price of living to go down with the inflation. we want you have any background in finance? >> a little bit. we worked on wall street out of high school doing cash advances at the time. the financial background ends there. we one do you like it? >> not that we like it. stuart: the tiktok thing, making a lot of money. >> making of you dollars. stuart: how did you get into it? >> messing around with a couple pranks, videos took off. i got involved, the rest is history. stuart: how many million viewers? >> probably 100 million views. on tiktok alone, 20 million likes. stuart: you could get 100 million views parlayed into a great deal of money.
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>> got to be honest. stuart: i know you've got to be honest. >> the money has been better than the union job but we are on our way. stuart: you live at home? >> we do. stuart: your dad is right there. the sole inspiration behind the videos. stuart: natural born entertainers bring enormous energy but it is nonstop but people like your accent. >> especially not from new york, they think it's the best thing in the world. we want try to imitate me. good morning, stuart, how are you. >> good morning stuart, how are you. >> good morning, stuart, how are you. no? absolutely terrible? stuart: let me try something. it's expensive to get out there and date. it is extremely expensive to get out there and date.
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>> cost too much. stuart: the hand action, got to do that. that means it is too expensive. stuart: okay. do you date? >> i'm in a relationship, a year and a half, couldn't be happier. stuart: is it expensive? you see a skip on that? >> i will. stuart: it is my idea. stuart: 20%. stuart: pay 30. you guys are great. one of these. stuart: now, democrat debbie dingell is tired of people talking about biden's age. john levine on how donald trump's legal woes are
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affecting his campaign. the wolf of wall street joins us, 11:00 hour of "varney and company" is next. ♪ moving forward with node-positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning as determined by your doctor when added to hormone therapy. diarrhea is common, may be severe,
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