tv Varney Company FBC February 21, 2024 10:00am-11:00am EST
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♪ stuart: that is a little cool. clumsy by 30 because the president made a modest slip on the stairs getting on board air force one? we will get to that later. good morning. 10:00 eastern. straight to the money, plenty of red ink, the dow down hundred, nasdaq down 80. nvidia, stock of the day, maybe of the year. it was after the bell today, it was down to 678, bounced to 683, down on the day. 10 year treasury yield at 4.4%. the price of oil around 76, $77, 7718, bitcoin was 53,000 earlier, now it is down to 50,957. the markets wednesday morning,
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now this. much is being made of the president's slight stumble tuesday as he climbed the stairs to board air force one. he was apparently wearing dress shoes rather than the sneakers they often put him into get extra grip. that's the kind of intense scrutiny biden can expect. may seem ghoulish, may seem silly but it is inevitable. there's an election coming and polls show majority believes he's too old to be president for another 5 years so everything he does is viewed through the lens of doubt. even democrats are scared to see him. it comes back to the contrast between the president and his likely challenger donald trump. of the contrast that make biden look bad. last night trump did a town hall with laura ingraham. throughout trump answered questions quickly and easily, didn't use notes and spoke in a clear strong voice, went straight to the point every time. when was the last time you saw the president speak at length
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in a firm voice without notes or teleprompter. he doesn't do free range press conferences, and rarely sits down for serious interviews. his handlers are covering for him. they know how the contrast with trump looks. what about a presidential debate? trump told laura he would engage right now if biden would accept. would he accept? he's not making a commitment at this stage and you know why, the contrast between the cognitive decline of the president and the challenge of trump is too alarming. whenever biden appears whenever he speaks in public every word and gesture will be scrutinized. his handlers will do what they can to protect him but in a democracy, and a presidential election candidates must be upfront with the voters. they should answer questions, they should do you bake. as of now biden can't do it, trump can. second hour of varney just getting started.
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liz peek onset with me. i don't see biden getting on stage to debate trump anytime soon. what say you? liz: not a chance. several weeks ago there was a steady drumbeat and it has built of democrat columnists and opinion makers saying he shouldn't debate trump, because trump tells so many lies on the debate stage, why would you give him that platform, who lied unless debate stage when biden said my son never took money out of china. we know that was a lie. i never had anything to do with his business, we know that was a lie, that's not any kind of excuse but you are dead on, all the scrutiny is impossible for the white house because they are being pushed to let him show what he has got, let him be out there. are hearings this. they can't do it because every time, let joe be joe he falls apart and it's not good.
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i think look, all of this could be solved overnight if biden took a cognitive test, right? trump is talked about that. other people talked about that. settle the issue. if the white house can settle the issue they should but they can't. and they won't. stuart: you've got an op-ed that says biden is caving to another big initiative because he will do anything to win in 2024, big initiative is the ev push? liz: probably the biggest thing in his climate platform. you cannot get to the goals, the impossible goals he has set without having a country switch over to driving evs so on sunday of a long weekend as they told the new york times the white house leaked to the new york times they were going to extend, relax the guidelines, extend the deadlines. what does that mean? it means evs aren't working, people don't want them, there's a slew of reasons americans are
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resistant but the price tag is one and the fact that they are inconvenient, number 2, he's got a big problem in michigan. michigan he has to win, 15 electoral votes went for trump in 2016, went for him in 2020. right now the uaw is up in arms about the switch to evs, they could lose not their jobs but the industry, chinese company looking at manufacturing sites in mexico, they invaded europe. the traditional carmakers in europe are stumped by chinese contestants. the other thing is a big arab american population in michigan, 5% of voters don't like president biden's stance on israel. he has a problem, pedaling faster get over it but 80 one-year-old legs can't peddle fast enough. stuart: that was sarcasm. terrible thing to say but i laughter. see you soon.
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donald trump just announced some of the people in his short-lived for vice president. who made the list? lauren: tulsi gabbard, ron desantis, senator tim scott, byron donald, vivek ramaswamy and the governor of south dakota, kristi noem. >> all those people are all solid and i always say i want people with common sense because so many things happening in this country don't make sense. lauren: he singled out scott, you are better for me than you were for your self. scott was running for president. this isn't an insult. that is the number. that's my judgment. president biden getting heavily criticized for a video he posted on x. what was the video?
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lauren: highly produced, about how putin is -- for ukraine. >> president biden: the speaker needs to buy a vote but the clear majority supports what the senate support so you can stand with ukraine and sent supplies they need and prove to the worldly america can be relied on. we stand strong with our allies. we are the united states of america. we keep our commitments. we never walk away from our friends. we sure don't bow down to vladimir putin. lauren: did you see the movement of the camera in that it? 29 cuts. i found them distracting. that was a strong message he was delivering. didn't need the jazz of the cuts. be stuart: he wanted to get it right. lauren: how many takes were necessary to make it look produced?
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stuart: like doing it live. we better get to the markets. show me in video. the dow down the 74. nvidia back to 682, 681, down $13 call 1.8%. are you expecting nvidia to have another blowout report and if so, why? >> reporter: great to be with you. that's what they do every time and the numbers are so incredibly large with other names out there. that's why on this particular stock today, if we look at where they were in q1 of 2,023 versus where they are now, went from 53 a share to over $4.5 per share, closer to 5, that is a massive increase in a year's
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time frames so nvidia just continued to rally, they've got cash, to a dividend buyback, a lot of great things to say about this name, probably one of the biggest movers you've seen in a lifetime. stuart: i should point out palo alto networks, they say the ai growth rate is slowing down. if nvidia were to say anything similar to that, nvidia goes straight down. >> the forward guidance is what stock pickers are looking for right here. i think if they say things are slowing down, the other 3 chip manufacturers said their earnings report, i think we will see a little bit of a selloff, so they had actually their worst day in the market in a year or so yesterday about the biggest market cap yesterday in anticipation of
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this so nvidia's price is pumped up 35% of the start of the year, in anticipation of this report at this time, so we understand how that works, probably a buying opportunity. stuart: at which point, at which price would you turn around and say i am in. i'm buying that? >> our firm has owned this for a long time. we've rallied up with this. if we get a 5% or 10% pullback, that would be an awesome entry point here for new opportunities as we look at 2,024 but i want to get positive on this and that is we are investing the most concentrated stock market in us history other than 1929 which great depression and 2,000 which was the dot.com crash. is this time different, i don't know, this is just the most concentrated time frame with so much being focused on these particular stocks but there's probably some steam left in the engine. stuart: steam left in the engine. we will see. thanks for joining us, always appreciate it, see you again soon.
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watching at 4:00 for that nvidia report, the movers on your screen right now, jetblue down 2.4%. what's the problem? lauren: overs are placing them in the dow jones industrial average, the same day amazon switches that with all greens, this gives the index exposure to uber which is the only ridesharing company in it. stuart: toll brothers, where are they? they are up today, 6%? lauren: luxury homebuilder, seeing a marked increase in demand, strong start to the spring selling season, they raise their for your outlook and expect to deliver more homes, as many as 10,500. stuart: crowd strike, cybersecurity stocks way down, almost across the board. lauren: a hollow alto is down 26%. disease scaling down 14. the worry is palo alto's warning the day i spending a slowing could spark a price war.
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everyone struggling with discount prices to get more business, not good for the bottom line. this is that. stuart: they have had a meteor it rise as well, extraordinary. very unusual, thanks. coming up, more than 450 chinese migrants crossed into california in three days illegally. lawmakers say the dramatic spike is raising national security concerns. israeli forces conducted a raid in gaza killing multiple hamas fighters as the us blocked the un resolution that called for an immediate cease-fire. congressman mike waltz on that next.
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neil: dow industrial down 56, nasdaq down 62. widespread raids in northern gaza, trey yingst is in tel aviv. >> israeli forces entered gaza city in a raid killing multiple hamas militants and capturing new weapons as palestinian civilians are suffering a massive humanitarian crisis across the strip. >> reporter: power seems rushed toward a drug in northern gaza desperate for food and supplies. there is no flour he explains. we are eating animal feed to stop ourselves from feeling the hunger. further south, younger gazans wait for soup and lentil. it will be the only meal they
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have today. my children cry constantly and i am unable to feed or give them water. these are the faces of gaza's most vulnerable residents, palestinians we can suffering amid the war. as they scream for malnutrition, 5% of children at the age of 2 are acutely malnourished in the southern gaza. that numbers spikes to 15% in the north. with no diplomatic breakthroughs the civilian population most brace for the possibility that the war and agony continues for weeks if not months. israeli officials say hundreds of aid trucks are waiting to cross into gaza. those officials blame international organizations saying they are not properly distributing the aid throughout the strip. stuart: thanks. republican congressman from florida mike waltz joins me now. the us vetoed a un resolution that called for immediate cease-fire in gaza. are you okay with that?
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>> i'm okay with that. we have to allow israel to destroy hamas. of hamas survives all of this is going to repeat itself years from now and hamas itself has said it needs to survive to do another october 7th. hamas does not want a 2 state solution. hamas wants a one state solution which is hamas ruling from the river to the sea, in a terrorist caliphate. here's the not so good news, the administration is teed up to introduce a resolution to force israel to cram the cease-fire down its throat and this is the same un that refuses to condemn hamas, it's human rights council took forever to do the basics of condemning the rape and sexual assault that occurred, the same un relief agency that's
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literally brainwashing get the palestinian children so it's a horrific situation. at the end of the day it will never stop unless hamas is destroyed. stuart: let's get to the crisis at the border, border agents arrested for hundred 50 chinese nationals in the san diego sector in a 3-day period, more than all of the fiscal year in 2,020 one, griff jenkins saw it firsthand, arriving with suitcases from china to cancún and brought their suitcases to the border and they are in. why are so many chinese migrants coming here like this? >> this has become industrial scale immigration from china. they are in cahoots with the cartels just like they are doing fentanyl, they are now doing human trafficking from china and there are entire buildings and hotels full of chinese nationals now in ports the cartels run just pumping these people through, here's the thing for everybody to
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understand, they just want a better life, that doesn't mean our asylum criteria but the chinese government put his long arm to its police stations, to tap these people on the shoulder and told him to steal, to attack, to crash the gates at our military bases which they are currently doing, they call them nontraditional collectors, they have to do it or they hold their families back in china liable. this is completely out of control. it's nuts. stuart: fox has been covering this for a long long time and we been covering the chinese immigration a long long time and nothing is ever done about it. the president doesn't address it, the administration does not address it. i don't understand why. this is a huge problem for democrat voters in the election.
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>> the chinese piece alone is up 40 times from what was a few years ago. we are hearing these rumors, biden is going to try to hit a reset. he owns this problem and owns the 10 million people that are now scattered all over the united states. anytime i talk to homeless veteran here at home who is not getting the services he or she rightly earned it is infuriating and he is going to pay a political price, there's no way he's going to put this off on republicans like they are trying to do. stuart: we may this agree on this but i don't see how you can get 9 million people out of this country. >> donald trump is going to try. that's the population of alaska on north dakota, south dakota and vermont that will have to be cleaned out, rounded up and deported. it is an industrial size scale problem.
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stuart: one of the largest migrations in history. appreciate it. ashley, come on in. i want to know what the governor of south dakota is doing to help with the border crisis. ashley: we are not talking canada but the southern border, she is sending national guard troops as south dakota becomes the latest state to send help to the southern border. the governor said this. the border is a war zone, we are sending soldiers, it would be construction of a wall for illegal immigrants, doug -- drug cartels and human trafficking into the united states of america. 60 south dakota soldiers will be deployed to texas in the spring on a rolling basis over a 3-month period, from texas governor greg abbott, texas
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continues to build razor wire barriers on the southern border which is defying a supreme court position, backing abbott in his standoff. stuart: south carolina's republican primary this saturday, nikki haley refuses to drop out but could this weekend's results change that? black voters, key part of the coalition that sent biden to the white house in 2,020, supporting among that group seems to be dwindling. watch this. >> president biden or donald trump? >> trump. >> what do you think about biden? >> he tied it. >> what is president biden doing for the country? >> a conservative group is trying to drive black voters further away from biden. ♪
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capitol hill with the deposition to the house judiciary committee in the biden impeachment inquiry. we are monitoring any news that comes out. check those markets. almost one hour of business and the dow is down 73, nasdaq is down 95. lauren looking at some movers. garvin is moving up. lauren: the gps people have an upbeat forecast, seeing strong growth in otto and they make domain controls and in the fitness category they increase their buybacks 11.5%. we when this used to be called the hong kong banking corporation, not hsbc. lauren: they made a big bet on china. they reported their first quarterly loss in 5 years, the main reason is the right down on their stake in bank of communications which is one of the largest lenders in china. stuart: intuitive machines, they make the moon lander.
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lauren: that moon lander is scheduled to land tomorrow on the south pole of the moon. the stock rallied four days straight, 17% and called the volatility. it is lower but it has more than doubled since february 15th. this is a retail stock favorite. a lot of money in this thing. stuart: a little profittaking. former south carolina governor nikki haley vowing to continue her fight for the republican nomination despite calls to drop out and poll numbers showing a commanding lead for donald trump. the primary is on saturday. alexandria half has been following the race. what is haley saying about south carolina? >> reporter: she feels she will have a competitive showing it is optimistic. i don't think she expect she will win this state, polls have donald trump leading her by 26% to 33 percentage points but she has this competitive showing,
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she can take that momentum with her into other states like michigan, colorado and utah after her home state votes. she' is adamant she's not going anywhere. the former governor said dropping out would be the easy route. >> people have a right to have their voices heard and they deserve a real choice, not a soviet style election where there is only one candidate and he gets 99% of the vote. we don't anoint kings in this country. >> reporter: the person she's referring to, donald trump, was also in the state yesterday, welcomed in by a large crowd chanting his name, sitting down turn exclusive town hall of florida ingraham. he said this about haley's fight and his process of picking a running mate. >> not supposed to lose your home state, she's losing it. always the first quality has to be somebody you think will be a good president because of
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something should happen you have to have somebody who's going to be -- >> reporter: haley and trump agree she would not be joining the trump ticket. trump at one point teased it to the crowd the, south carolina senator tim scott, former competitor in this, sitting there, teased that he could be someone he's considering but no definites as of yet, nikki haley yesterday said she's not in talks for a third-party run. we will see where this goes. stuart: we hear you, thanks very much. we told you how biden has been losing support among black voters. watch this. >> reporter: president biden or donald trump? >> trump. >> donald trump. >> why? >> he keeps it real even though he hates people, he will get the job done. >> i love donald trump. >> bring him back? what do you think of president biden? >> he's tired. >> what has he done for us so far?
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>> he calls a trick inflation. >> shrinking get. >> how are you going to say you do this and do that for all the people and go back on your word. >> how is president biden doing? stuart: one conservative group named building america's futures trying to drive black voters further from biden. tesla and figaro joins me. how does your group plan to detach voters from biden? >> that's not my group. let me be clear about that. i'm here to have a conversation. interesting conservative groups continue to keep focusing on the weakness of the democrat party. it would behoove you if republicans and conservatives believe conservativism is the way, why do they not talk about the strength of the party? why do they always wait to pilaf one or 2% of the votes?
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why are they not pulling themselves up by the bootstraps and talking about the good things they believe are on the other side? why not advocate highlight like sonny johnson instead of just the clowns? why not invest the same way they do in the hispanic community about opening 30 centers to have a conversation instead of just talking about how bad the democrat party is? republicans do it as well, only talk about how bad democrats are, democrats talk about how bad trump is, black people are interested in having a conversation with those who feel they have the best to offer. stuart: i'm sure you saw this, the reparations commission in boston demanded $15 billion in reparations for black americans. a member of the commission says the city must, quote, fully commit to writing checks since its wealth was built on slavery. in my position my opinion is that is buying votes, buying votes. what say you? >> by them. let's start with 15 billion for starters.
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expert separation, 17 trillion is actually the real number, they want to buy votes, we are here to pass the check and accept it because not only is it not buying votes, it's paying back the debt that is due and once again taking the lazy way out, let's have a conversation about reparations. let's talk to marsha dixon, advocates like jade harold, let's talk to organizations, we are talking this on a daily basis, they are not fans of democrats by the way so the conversation is long overdue. they want to buy back votes, we are to cash the check. listeners don't want to hear that but we are here for it. stuart: did you work for bernie sanders? >> i sure did. i was is racial justice director in 2016. stuart: you are a socialist? >> absolutely not.
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i have a staff with 300 employees, served in this company. as a veteran i have been a for-profit organization. i was racial justice director. i challenged issues on race including bernie sanders, called the entire progressive movement a racist movement. i am a businesswoman like you. the us department of commerce, entrepreneur of the year last year. stuart: thank you for being with us, appreciate your point of view. thanks a lot. voters are grading president biden's job performance after he was called an uninspiring candidate. what are they saying? ashley: many are unimpressed giving the president a failing grade on a number of issues. listen to this. >> it is time he stepped down and ask somebody to take over because he is old and it is
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time for someone else to lead. i don't think he can lead this great country for the next four years. >> he is an older guy. don't expect him to be exciting like obama. he is old. he will be slower but he is making the best decisions i think he can make. that's not putting us in jeopardy. ashley: others blamed biden for skyrocketing inflation and prices at the southern border. a new college paul in pennsylvania shows a majority of voters are concerned about biden's age, the paul found her trump leading 45% to biden's 43% with 12% of voters undecided in a head to head match up. the survey shows more concern for biden's age than the current indictment handed down against trump. 63% of voters in pennsylvania
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say they have serious concerns about president biden's age. stuart: still ahead, president biden will hold an official event, he will announce more student loan debt forgiveness despite the supreme court striking down his previous path, sounds like vote buying to me. migrant families could make 15,000 a year with new york city's debit card, mayor adams says it will save millions of dollars. madison allworth has the story after this. ♪ (♪) we're lucky to have this team working for us.
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up by $14, four% yesterday. 680 share right now. that's when the numbers come in at 4:00. big tech, some gains, apple, amazon is up, microsoft has dropped below $400 a share. meta is at 464. migrant families could make $15,000 a year with debit card plan. madison -- madison alworth joins us. madison: let's look at those numbers. $53 million program saying it will save the city 7. $2 million a year by allowing migrants to buy their own food and baby supplies. $7.2 million worth of food meant for the migrants is being wasted when thrown out.
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>> if we sit back and state we are going to allow people to be here forever, not trying things new and different, we won't solve this. >> reporter: trying something new with this pilot program is the new approach. there are a lot of questions how the 53 million will be spent. getting $1000 a month, that equals $6 million for one year but the contract signed with mobility. it doesn't add up. >> it is not clear or on purpose. it cost billions of dollars
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giving out debit cards in the city's care right now. >> reporter: the pilot program has not started, there are talks of expanding if things go well. could ask job that it will be used correctly in a population with no legal identity and therefore no fraud control, exploited by greedy individuals that work among the population. a migrant being put off by police at the city's randall ironed tent city where i am following a violent confrontation with nypd officers last week. the debit card program is meant to solve a problem that currently exists. we are wasting 72 million of food. the contract of the city is a non-bid competitive contract. this contract with the debit card company in noncompetitive no-bid contract. we send it back to you.
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stuart: thanks very much. house judiciary chair jim jordan just subpoena department of health and human services. what does he want to know? ashley: to release the files on the number of illegal immigrants who entered the us as children, went on to be charged with violent crimes including murder. jordan, who chairs the house judiciary committee says illegal immigrants have been charged with crimes anywhere from theft, assault, to murder. response from hhs has been in his words woefully inadequate. after a back-and-forth argument, the federal agency did agree to allow lawmakers to look at the files but jordan says it was a joke and the records were heavily read acted. secretary mayorkas the case files and 14 illegal immigrants charged with serious crimes including theft, brutal
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assault, murder, and terrorism related charges. trying to get the information proves the penalty is not that easy when dealing with hhs. stuart: ahead, still ahead, catholic couple in indiana says the state took away their transgender son because their parents refused to use his preferred name and pronouns. our restaurant in seattle has been broken into 23 times, the owner says he lost all faith in the city's leadership. jason rantz has that story next. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?"
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stuart: there's a restaurant that has been broken into 23 times, he lost all faith in the city's leadership. tell me more. >> a restaurant tour who suffered a number of break ins, the message is very clear to the restaurant owner. despite your complaints and wanting out the obvious that when you go easy on criminals
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they tend to to recommit, they don't care about this business and the other business owners in the city being impacted with it. 23 is a lot and that's an anomaly but it is not an anomaly to see businesses hit multiple times, the business bakery hasn't bubbled up. they are out $40,000 worth of equipment that was stolen. you hear businesses complaining do something and the city hasn't been able to do much. not all problems are on the city because these are issues caused by the state but you have a powerful city with leaders, to ask democrats in the state capital to do something. they are not doing it. stuart: in the center of seattle has it spread out to the suburbs? >> it has spread out to the suburbs which if you look at king county, the surrounding
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counties around seattle, they are seeing the same problems, not the same extent but lots of break ins, you are seeing cars being driven after they get stolen, into storefronts, small retailers, they are able to go in and grab what they can and drive off because in washington state police cannot pursue those criminals, you can drive off and going to get away with that crime. stuart: next case, cohosts of the view couldn't agree whether biden should debate donald trump. watch this. >> biden can lose in a debate, trump will not, people supporting trouble supporting whether he is there or not. one mistake and people that are undecided -- >> if biden flubs they are all over him. if trump flubs, who cares? >> i get why he may be wouldn't but donald trump will lean into the narrative of he's hiding because he's not up to it and voters will believe that if he
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doesn't show up. stuart: biden's people are scared to debate trump. what say you? >> i don't think the ladies of the view are wrong. president biden is in a tough spot. every time he's in front of the public realize he's not up to the task. if he doesn't show up they will realize he is not up to the task. he's in an impossible position. they keep telling us he is up to the job, you hear people say he runs lapse around me, his schedule is so packed, they keep lying and telling us that when clearly he is not able to keep to any schedule or stick to a script. they are causing this problem to be worse than it currently is. he's in an impossible position but that is on the democrats choosing to stay in this race. stuart: see you again later. still ahead in the next hour,
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martha mccallum on trump thinking he has a shot at winning new york state. brian brenberg on ivy league schools no longer publishing dean's lists because they cause stress. carol markowitz got back from the border telling us everything she saw and it was not good. the 11:00 hour is next. ♪ investment opportunities are everywhere you turn. do you charge forward?
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i was only 23 when i was first diagnosed with non-melanoma skin cancer. 40 years later, i've had almost 20 mohs surgeries. i had just accepted that the pain and the scars were going to be part of my life. but when i was diagnosed with two basal cells on my face, i became determined to find an alternative to surgery. if you, like millions of others, are affected by skin cancer... it's important to know that surgery isn't the only option. there's another choice. gentlecure. it sounded like everything i had been looking for. gentlecure uses low energy x-rays
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to kill skin cancer cells with a 99% cure rate. plus, there's no cutting, no surgical scarring and no downtime. i'm so glad i did it. it was successful in every way. to learn more, call today or go to gentlecure.com >> he does himself a lot of favors in these and biden should say where yes town hall and press conference and speech? biden's team knows they can't do that. even if you did have a piece of legislation, you couldn't at this level. >> right now the question is what do you do? you can't take a 40-story building on fire and put it out with one pail of water. >> competitors come up and catch up to where they are. they made those investments decades ago and this is the challenge, how do you beat nvidia
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