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tv   Varney Company  FOX Business  February 22, 2024 11:00am-12:00pm EST

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2024 is the unanswered question. >> we need somebody who's going to take us back to the fundamentals of physical loss possibility. >> so many people talk about what the biden family businesses which we still have not gotten a straight answer about exactly what they were offering in exchange for this money. ♪ >> i'm trying to place this, down on the corner. i'm not sure of the significance of that particular song, down a quarter. [laughter] that's a stretch and you know it. 11:00 eastern time thursday february 22. look at this. the dow is up to 23 points. happy days ago. nasdaq up 342 veteran 2%. why? look at nvidia on your screens,
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priced at 776, up 102, 15%. nvidia is more than $2 trillion. nvidia affect dragging big tech along with it. meta is up 3%, amazon 2%. microsoft 1.8. smoking for alphabet and apple. ten year treasury yield not so important on the trading day, it's down 4.31%. i think the yield has limited implements today, it nvidia and ai. two weeks from today, march 7 president ... date of the union address campaign beach and because he's in deep legal trouble now, he's beginning to pivot trimming failed policies expanding giveaways. he wants to look good. biden is about to unveil executive orders on the border and the announcement will come
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soon just in time to claim he's fixing the problem. nonsense of course but when he makes a speech, you're guaranteed to see the democrats stand up, up and down like that during extending the student loan giveaway, another 153,000 dollars had there loans can canceled. in total, 3.9 million had the debt wiped out costing $138 billion. he's got a lot of vote with your taxpayer dollars. let's not forget his retreat on the unpopular unsuccessful electric vehicle mandate. you probably won't make a big deal about that in his speech because they don't like it. claims he is the most climate friendly president to date. the state of the union speech marks reset for the biden campaign. he needs one because is underwater in almost every major issue. the world pivot, unnatural sure. the big negative is his age and cognitive ability. the latest poll shows two of
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three, 67% think biden is too old to serve another four-year term. you could give money away, you can trim unpopular policies but it's hard to turn around the perception of mental and physical decline. third hour of varney start now. ♪ good time to bring in mike huckabee who joins us now, former governor of arkansas. with the pivot of the state of the union enough to turn on the biden campaign? >> i thought it. this is joe biden is like an arsonist, he goes out and burns 20000 acres of forest land shows up with a water pistol and says watch me put this fire out is been working on tearing the country down for three years when it comes to the border in the price of bacon and butter so
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his attempts to say going to fix this and you scratch your head and say joe, not only do not trust you to fix it but we blame you for messing it up. it wasn't as bad when you came in. that way we need to make sure you go out but can imagine hear something? is going to probably try this pivot stuff on the border. what has he been saying for several months? to have legislation, is the republicans who won't let me fix this, i have to have legislation. max going to turn around and do it by executive order. is there a reporter that will have the integrity to say mr. president, if you can fix it by executive order, how come you didn't already do it? you didn't need legislation, you are lying to us so admit it. >> if we had a reporter who would say that, i'd like to hear it. new polls show trump leading biden in georgia and north carolina. national poll shows 80 trump 49
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to 45 but that lead is narrowing significantly. this is why he's pivoting because he's underwater and everything else but my question is, you think he can get over this perception that he's too old and weak to continue four more years? >> only if they put him in a cryogenic chamber and kept them frozen until november because otherwise he's got to say something. he has to read from a teleprompter would you can't do, he has to go up and down the steps of air force one and phillies one which he can't do what he needs to get on and off the state which he has trouble finding directions for so i don't think you can fix this is not his age, i want to be clear, this is about his capacity for cognitive thought. there are people who are quite a bit older than joe biden at the top of their game took grassley, senator from iowa, clint eastwood making great movies.
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diane kenneth on my television show recently, she's 87 so producing incredible films. these are people older than joe but you don't see them bundling their way through the sentence so as not just his age, ageism, it's capacity, ability. that's what we are worried about. >> thank you very much, we will see you again soon. i want to check the markets because we are having fun today. when your money is taking off, it's enjoyable for the dow is up 200 a month aspects of 356 points. lou with us for the our. talk about nvidia. they reported this blockbuster earnings report, 779 right now, is a room to grow above that level? >> he said it before, i like it, i just don't love it.
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anyway, nvidia has room, is the data that proves it. the ceo said yesterday is at least a trillion dollars and spending for ai coming in the next four to six years, a trillion dollars needs to go into chips and other buildout. last week the data center, i think this is a trend that has legs, is not just about and you will see this carryout, it's a halo effect. it will carry into other names, not just nvidia. >> ceo, here's what turned me on about the stock in the future of ai, he says the your head will bring major product cycles with exceptional innovations to help propel our industry forward, a very positive outlook for the future. >> and is being echoed by every other co in the space. the latest report talk about the next version of ai being more profitable so it's something that will persist, it's like the smart phone boom and now it's what i i so apple, not blackberry, you got to own
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nvidia. >> most investors put money in the market, for portfolio with bases and it from a solid proxima portfolio, do you think nvidia should be one of those stocks you keep forever? >> is something you got to own forever, is a name that should be at the center of this trend, is not going away anytime soon, is the next wave of growth in text that will persist, is like apple, microsoft, there's going to be anchors. they account for so much of the performance but they account for business, to so you got to own the profitability. >> a lot more for you. i need you to look at at&t because of this outage, phone outage this morning. >> many people trying to make calls and texts this morning, including san francisco fire department and the police department, a network outage at at&t, responders had to hop onto wi-fi to communicate. at&t says part of it network are
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beginning to recover the site that tracks complaints is at this hour 60000 reporting problems. at&t is down 3%. >> but we don't know the basic problem, what caused it. anything else is speculation. door -- this morning. >> up 6%. morgan stanley says by it. lazy price going up 27% to $145 a share improving user royalty and new categories from a they don't just deliver food. how about sporting goods, office products and ac border growth 16% a year through 2026. >> remember alan green said irrational, exuberant in the 90s. irrational exuberance in this market. some of these gains are huge. >> here is a stock that done 7%, forecasting a drop in gross
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merchandise sales this quarter, weak demand for handmade as you would say, handmade items on their site several brokerages cutting them at the lowest i saw was 71, going on to 50. >> you put a lot of stuff on there. coming up, a new poll shows most voters already made up their minds about november the other many to biden or trump? will get into it. the biden losing, what is the main beef hispanics have with biden? will get into that next. ♪
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can't stay away from it, looking at nvidia, 50.3%, $103.2778 a share. lou is with me this morning. i want to continue the conversation about the ceo -- i'm sorry. he says accelerated computing and generative ai hit the tip, commanders surging worldwide across companies, industries and nations. you can't get more of a positive outlook. >> we talk about generational tech trends and this is hours, if you're not involved in ai, he will miss out on a huge growth boom we haven't seen for decades and i think it's going to be persistent, everyone think nvidia is the poster child and everyone is afraid of what ai can do as opposed to focusing on the good of ai. i've have talked about ai being our copilot, it will assist in drug discovery analyzing x-rays,
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all of these things that are value boosting productivity and advance society in positive ways. >> a whole new industry is being formed so how will we work with his industry in the next three to five years? when you make a trade, if you want to buy nvidia, a lot of people like to get on the phone and speak to a broker, i was speaking with the financial company who says they're working on voice data so your speaking to artificial intelligence, a robot and you might not even know it. it's supposed to get that good. weather patterns, what about doc in a box? you go into a dark room and ai scans your full body and they say okay, because of the data you have, you need to be scanned for this six months and come back predict things with the human eye cannot. >> what life is like before the internet and what life is going to look like after thoughtful introduction of ai, i would like
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to know how my life is going to change the method for the internet he had to send them through vacuum tubes. >> i remember that. >> like human beings the internet and now. >> artificial intelligence will never face that you want, you can train on data but not how to make a decision connect i have the stomach to buy that 70s share? i do not. thank you, turning to the election, why not? some black hispanic and young voters are walking away from joe biden election season is upon us. daniel in the hispanic grassroots organization initiative joins me now. what is the main beef hispanics have biden? >> honestly it has to do with the economy, the cost of living 20% more expensive for every american has turned off a lot but there's no enthusiasm given
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the dismal economic data, no effective messaging from this administration, no real achievements in the last three years on the economy, inflation, energy, education, crime, a lot of latinos are being turned off. >> than hispanics, latinos are not different in their voting patterns and issues and concerns from the majority population. >> that's right. shifts can occur within a generation and in this case, it happened to america's largest swing voting block. in 2022, 39% of hispanic voters supported republicans compared to 25% in 2018. as happening real fast it for the gop the key will be to persuade latino voters and swing states like pennsylvania, wisconsin, michigan and arizona and there is a reason for hope for the gop in a state like nevada and the opportunity to flip blue senate seat and brown
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nevada is down two percentage points trump is up 3% of latinos according to the emerson. >> it's happening so fast, it's a rapid transition in the vote. more than 17 million latinos are projected to vote in the election, six and a half% more than 2020. biden versus trump from what is the breakdown of hispanic vote come november? >> is obviously double digit percentagewise and the number, 17 million matters because there is no path to victory for the gop if part of the strategy does not involve the country's largest swing voting block especially in swing states on the electoral map and even then it congressional races you will need to turn out the vote so they're down ballot will be the benefit from the support in the latino community. >> when president biden took
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office, he opened the border and we all thought he was doing that to secure hispanic vote, mostly hispanic people coming across. that didn't work so i guess the border was a nonissue for hispanics or negative issue. >> a lot of the reason latinos come to america is because of law & order, we establish control, we decide who comes into the country under what conditions and how many. we don't have that right now. we have a sabotage of our border and its put security of americans in peril. when you consider 35000 folks last year had criminal paths, 179 on the terror watch list mahood from from 33000 came in 20000 just in february. there is no order at the border in causing resentment in the system. >> thank you for being with us this morning.
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now this, a new survey shows voters already know who they will vote for in november. were they leaning toward? >> is pretty much split down the middle which is interesting. if any think about the vote solidified for biden trump over the course of the last three months. 6%, only 6% say they are considering both trump and bi biden, who are they? another 7% say they won't consider voting for either so according to the survey, among the already decided, 61% of registered voters prefer candidate is joe biden, 61% preferred donald trump. since the last pole, biden and trump supporters have become likely to say their vote is now decided. biden and trump have similar shares of americans who say they might possibly vote for them, 42% of americans say i would consider voting for trump.
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42% say the same with biden. one must finding that's interesting or kind of expected, voters age 65 and older more likely to be decided on a candidate by comparison, just 40% of voters under 30 say they've already decided so there you go, the younger vote are particularly well decided. 60% of them at least. >> seniors, set in our ways. >> yes we are. [laughter] stock market what a trump victory. >> one 100%, unequivocal, that's why you see some of the rally we talked about. he said undertake at the top, 67% of voters think joe biden is too old and fragile so are they going to vote for elder abuse to put him into office for another four years? and went to seeing it with their own eyes, i think what you see
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is a visual representation and inability to continue to lead will manifest trump into the white house but i don't think biden will be on the ticket, you and i have talked about this event i agree, i don't think you will be on the ticket. [laughter] >> we are out of time. sorry about that. [laughter] will get you in the next block. as a town outside denver object object to century city status. in a moment, who will tell you what the city is doing about it. when you prices skyrocket john will deal with that next, he's a mobile the way. ♪ ♪
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♪ ♪ i promise before nvidia at the beginning of the show and we are all over nvidia because it's going straight up, 15% higher right now 778. look back, right. thank you for coming on board, real fast, does nvidia will have room to run x. >> there's a lot of room to run. when a over what this is the
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most important stock right now the world and four years ago we talked about nvidia being in the trillion dollar market cap now it's 2 trillion in that direction, pieces the age of a what i. you have to have software. what nvidia has is a software mode that is important. maybe done hitting the data centers they are still going to buy from them but they are about to hit the government and target the government we need this capacity and that is the next mode and they are going after industries so everyone of the industries that have a place to see investments by nvidia into software companies in those industries think the next future so they know the hardware is an easy place to defend and they to go up the software over time. >> 776 is the price now, what is your price target the next 12 months? >> it was 900. it could be much higher than that. part of the reason is because they have 18 month backlog,
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people are waiting 90% share of the market and of course more importantly it got other chips coming in the line so even though microsoft, amazon, they are competing with chips, you can't lay out overnight, you can't go into the chicken overnight and be successful so this takes years for people to catch up. >> would you tell our viewers, jumping now at 777, would you tell them that? >> i was say if you can wait, wait but if not, this is going to be one of those stocks is going to be here for quite some time. this is the foundation of ai and if you want to jump in, find a place you're comfortable with and make a recommendation but we don't know how far as going to go up. >> you are a diplomat. thank you for coming on the s show, appreciate that. show me the nasdaq winners, who shown you nvidia, that's a
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nasdaq leader, what to the rest look like? nvidia at the top, look at them go. luke best brought some stock picks with them, i am i not apprised this is a popular list? >> 's are in the top of the headlines today. we are in the age of ai and hardware is hard to defend, leading in the hardware space for chips with an amazing business model they developed technology and license out. >> it's on strata. >> it's on public a rocky start but a huge gain last quarterly was surging demand because of ai. >> this is nothing to do with ai. >> absolutely not before a tech guy to pick a cosmetics company, you're probably scratching your head. they have tech like merchants. some products have 80% gross
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margins, this company is a momentum trade, 20 consecutive quarters of growth triple digit growth going into this most recent order, consumer staples stock that's capitalizing on the digital economy getting cosmetics and skincare out. >> who would've thought high profit margins and skincare and beauty company? >> is a great business to get into. [laughter] >> california preparing on a new law that will ban businesses from charging junk fees. restaurant owners could cause many persons just girl for. they been relying on them to employee benefits. now the money has to come from somewhere else. john tougher, will conduct, good to see you. please explain what junk fees are and how they will raise and you prices. >> a lot of restaurants said they want to raise menu prices, and surcharges if you will.
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i'm going to put a 2-dollar surcharge on every item to cover the food cost, a dollar surcharge to cover increased employee medical insurance costs and they take that approach, almost like airlines with the little chargers they add to fight in a plane, i'll see, baggage head etc. nickel and dining people. i don't believe the state of california should be involved in the way we go about doing business, it's a consumer choice. consumer will see the check when it's over, consumer will see charges listed on the check and they will either come back or they won't. we chose not to go with the surcharges, who dropped it to the menu charges but the consumer is starting to get used to the 30-dollar hamburger, the increased prices we've experienced. he seen it out there, prices are incredibly high and i hamburger
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in some places cost what mistake is to cost. consumers are starting to get used to it and we saw gas prices go up and we seen our whole lives, people get used to the adjusted prices at some time. i don't believe in surcharges. be honest with people in charge what we need to charge and understand. business is simple a part of all revenue goals to food and beverage cost from a telephone goes to labor costs, ten to 15% of revenue goes to other administered costs and insu insurance. we'll have a lot of margin to play with so we have to acquire additional revenues to cover the cost. let's do it honestly. >> this is an artificial intelligence day on the stock market. nvidia long anyway. my question is, what is artificial intelligence to for your restaurant chain?
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>> it's interesting. as a happy shareholder, i can say we find right now the place for ai and restaurant industry is in the back of the house. it will analyze customer tracking, and you, purchasing data labor costs, fluctuation, it can detail reporting systems to a level where it is diagnosing problems giving solutions to those problems. we will see it in the next two years how ai moves to the front of the house. cap the ordering and now it will in the conversation, would you like cheese? is not going to be the static windows, it's going to be come more conversational. cap it's will have person personalities. >> got 30 seconds for you to tell me about the ninth season, new season of bar rescue. thirty seconds.
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>> gloves off this year. it's the ninth season, i shortly 250 episode. this year the pandemic is over. we have inflation and higher prices but there's a lot of opportunity. a lot of these operators are in debt, in trouble and they need a swift kick in the you know where to get back in and being risk takers and operators, extremely aggressive. a lot of family businesses this year so emotional season. sunday night. >> it's a deal and will watch. you are all right. thank you for joining us. you know what you're talking about. coming up, president biden will likely unveil executive orders on the border, this is a political necessity because he's under so much pressure. more on that for you. district attorney in arizona reviewing refusing on right, soft on crime policies make it safer for the criminal to stay
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in arizona. that report is next. ♪
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man accused of murdering a woman in new york city hotel is under arrest arizona but the district attorney is refusing to extradite him to new york. nate foy with me now. i wouldn't the da turn them over to new york? >> she doesn't trust manhattan da alvin bragg won't let him back out on the street. because of the maricopa county attorney says it's safer to keep the murder suspect in arizona where he's currently being held without bond brother attacks. police say ron who you see here that a woman at a mcdonald's near unix shortly before his
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arrest on sunday. he's accused of stabbing another woman while trying to steal her car outside a starbucks. police say he told them about the new york city murder from two weeks ago manhattan da bragg wants and extradited to new york to face murder charges but mitchell says she's observed the treatment of violent criminals and won't let him back on the streets. >> i want to be clear to the public we are not saying he will never be prosecuted in new york for what he did but we are saying we are going first and that way we secure prison sentence on him, that has to be honored when he is extradited to new york city. >> nypd says this is surveillance picture shows him wearing his victims leggings after murdering her at a hotel. police say it appears he bludgeoned her with an iron. manhattan das bragg's office accuses her of playing political games in a murder investigation
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adding murder rate is less than half that of phoenix, arizona because of the hard work of nypd and law enforcement partners, it is often the face to them and the victim in our case to refuse to allow us to seek justice and full accountability for a new yorkers death. nypd says they are working with the fbi to see if the stories connected to other crimes. >> i think the arizona people are protecting the interest of new yorkers. >> a lot of people feel that way. >> next case, illegal migrants under arrest accused of turning high and homes in phoenix. how many crimes are they accused of? >> over 100. police say this home theft ring was run by members of south american criminal gang being targeted, high end homes in the phoenix area about three citizens of chile living illegally in the united states arrested, the group believed to be responsible for at least 111
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burglaries in the past year, rubbing around $3 million in cash, jewelry and other items. this is how it went down, gang members chose homes near golf courses are open areas that allowed them to park further away and walked to the homes undetected. they allegedly bought technology that uses wi-fi to jam home surveillance during the burglaries. the three suspects part of the south american criminal gang operating not only in arizona but across the united states. >> thank you. if those folks are found guilty, should they be deported? >> i think it's pretty black-and-white, you violate the law coming here illegally, he did get sent home by your committee crimes? you have the protection of being a u.s. citizen but if you put him in prison here, you got to pay for them here.
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>> they might come back again. >> think of the message is sent if you deport criminals back to where they are from, plus will come. >> 11:44 a.m., you know what that means. the dow 30 as we always say, a sense of the market, a lot of buying going on. most of the dow 30 going green in the now it's up is up to 80 points. a little shy of three quarters of 1%. thousands of migrant with security concerns, for crossing to the san diego border after so what's it like living on the border? resurgent migrants resting everyday. the mayor of vista, california next. ♪
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i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. show me nvidia, how much money are you making? a lot. it's a $100 a share, 14.8%. the stock of the week, maybe figure. big tech, it's been dragged up by nvidia mother all up. medical amazon, alphabet, apple, all of significantly.
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minor gains. president biden considering executive action to restrict migrants seeking asylum. peter doocy of the white house. hasn't biden already said his uncle he can do to fix the border? what changed? >> that's a great question, maybe there's an election coming up to the calendar changed but i've been told by officials many times during this president's time in office that he has been about this is a quote from stopping the flow at the border but with this floating of executive order, they are admitting that's not happened. i'm told there's a policy paper floating around the west wing consistent with what political is reporting that they could make it impossible for anybody to claim asylum anywhere but a port of entry. the timing of this order is if he but a spokesman is telling us know executive action no matter how aggressive and policy reforms and additional resources
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congress can provide and republicans reject it. call on speaker johnson and house republicans to pass bipartisan deal to secure the border and this could be part of the urgency. u.s. bp chief jason assange over the weekend u.s. bp agents across the southwest border apprehended ten undocumented subjects, violent criminal history including murder rate in drug or weapons trafficking. so far border patrol apprehended 2400 subjects with criminal convictions. >> joe biden made the decision to executive orders through illegal acts to open the border and allowed drugs, criminals into our country, it makes no sense. he's a disaster president and we need to have a big win in november and the house and white house to turn this country around. we are in a crisis. >> this is a president dating back to the campaign trail before elected, talking about a more humane immigration systems
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and trump but what they are talking about even though nothing is official yet has a lot of shades of the conflagration border policies. >> peter doocy at the white house, thank you. thousands of special alien to have crossed the border in the san diego area since october, thousands. people from countries with potential national security concerns. joining me now, john franklin, san diego county. here at the border yesterday, what did you see? >> i was there with the national border patrol council hamas leaders represent 18000 border patrol agent so we thought it inside the not just in senior leadership but what we saw is a continuous steady stream of people all over the world, north africa, china, you name it. the cartels advertise to jump people in an advocate pay $2000
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in some from central america for paying as much as 15000 to be extorted by the cartel be across the border it is posted trip. the san diego sector 1900 people in custody right now so we have between one and 2000 people across the border in san diego everyday. what you see right now is important. ids everywhere strewn. these individuals are throwing down identification cards and you have to ask yourself why, they don't want their identities to be known it is probably because they have a criminal background they don't want u.s. law enforcement discovered. >> it seems like america is taking an extraordinary risk allowing in literally millions we don't know who they are but we do know some of them are criminals and terrorists. we would take an extraordinary risk on this. >> what the most shocking to me is the white bus, what you missed on that is 50 illegal
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aliens on the bus and you see the giant gate behind the bus, that's one of the gate that opens in the second. the border wall is a double wall system and the two walls were intended for the opportunity to interdict people crossing illegally the territorial border fence and the ability to interdict them before they got through. it was not intended to be a place to stop and wait what they have turned border patrol agents into work drivers. i say that with no disrespect to border patrol but they feel disrespected by the government and by the administration, they feel disrespected by this president because they are no longer doing the job they were hired to do. >> please come back anytime, we want to know what's going on in your county will come back soon thanks for keeping your eye on it. a town in colorado turned
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nonstationary status. they don't like migrants flooding into denver just a century city. while residents saying? >> they are saying no thank you, the town voting unanimously to declare itself a non- century city. the town says they're worried migrants could flood the area from nearby denver, 50 miles north in the community doesn't have the budget for potential migrant influx and didn't want to use taxpayer funds for support migrants make their way to the town, local administration and police force work with federal agencies to have them picked up taken back to a shelter in denver. the mile high sanctuary status as we've seen led to the physical humanitarian crisis, democrat mayor mike johnson says fast approaching a break. the town says no thank you. >> you know what it's time for
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now? thursday trivia. a really good one. which president had a middle initial but didn't stand for any name? lyndon b johnson, warren g harding, harry s truman? real good stuff, well done. more when we come back. ♪ ..
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stuart: even though i get the answer wrong on most occasions this is the segment of the show i like the best so which person had a middle initial didn't stand for any name. ulysses s grant, lyndon b. johnson, warren g harding, harry s truman, what are you got? ashley: a great question, don't have a clue. that said i will go with number 4, harry truman. stuart: lou? lou:i will go harry truman as well. we when i guarantee it is not lyndon johnson because that is lyndon baines johnson but i'm going with ulysses s grant. reveal please. harry s truman. he's got it right again. do you look it up? >> i don't look it up. it's not allowed. i don't. ashley is the one that gets it right. stuart: the us didn't stand for any name but was a compromise between the names of his grandfather, truman and solomon. out of time, coast-to-coast starts now

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