meanwhile, we have big numbers coming up friday for our special coverage of the february jobs report. don't forget to join us at 8:00 a.m. eastern on friday. thank you so much. great conversation. charlie, dagen, cody, see you soon. thank you. right to "varney & company" we go. stuart, take it away. have a great day. stuart: i shall. good morning to you, maria. good morning, everyone. let's get right at it. wild times on wall street. today, at least at the opening bell, stocks are going up. massive rally monday, massive selloff tuesday, back up again this wednesday morning. the dow is looking for a near 600 point gain, 58 up on the s&p, 160 up on the nasdaq. that would be a rally. today's rally really started when news came that bernie sanders had not done well in the super tuesday primaries. health care stocks are going up this morning because bernie's ruinous medicare for all nonsense looks to be dead in the water. hold on. we will get more on the primaries in just a moment. i also have to deal with the astonishing drop in treasury yields. that is the flight to safety.

that's the anxiety indicator, if you like. this morning, the yield is back up to 1.00%. ashley: back up. stuart: back up, that's right. well above the extraordinary lows that we hit yesterday. that would be record lows that we did touch yesterday. 1% even on the ten-year treasury. how about the price of gold, another flight to safety. actually it's down again, off two bucks at $1641. okay. the primaries. a great night for joe biden. he won nine states including texas. he now has more delegates than bernie. sanders did win california, but late deciders swarmed to biden. bernie might not have won california if the two million early voters had just waited. bloomberg did very badly, only winning american samoa. his campaign is quote, evaluating its future. one of my colleagues at fox said never had anyone spent so much to achieve so little.

elizabeth warren, ultimate disaster, third in her home state of massachusetts, fourth in her native state, oklahoma. it was joe's night. he's back as a contender, establishment democrats breathe a sigh of relief but joe still made a gaffe in his victory speech. "varney & company" is about to begin. people are talking about a revolution. we started a movement. we've increased turnout. the turnout turned out for us. we are going to win because the people understand it is our campaign, our movement, which is best positioned to defeat trump. you cannot beat trump with the same old same old kind of politics. stuart: you saw it right there. bernie and biden from super tuesday. joining us, fox news.com

columnist, liz peek. the market is rallying because, this is my opinion, see if you agree, you can disagree if you like, because bernie did not do well. >> yeah. i think we have seen that twice now, when biden won huge in south carolina, which kind of started his big momentum comeback, the markets really responded to that. people are not ready for a revolution. they don't want bernie sanders as president and much as we might dismiss him as a cranky aging socialist from vermont who has a very narrow following, the truth is national polls put him ahead of president trump. so there is this black swan element to his candidacy, and i think when he won nevada by such a large percentage last week, that really alarmed people because the general thinking is he has 25% to 30% of democrats in his camp. all of a sudden he won 46% in nevada. that was alarming. what we saw last night naturally is that young people did not show up and they are his big

group, and that was disappointing for him and biden is being propped up by the establishment which is really kind of the right word, i think, and because amy klobuchar and pete buttigieg moved out, he was able to win, for example, minnesota, where he had been trailing, but because amy klobuchar stepped aside, that was his to win. a lot of states, you can look at that. mike bloomberg spent over i think i calculated a million dollars -- no, sorry, $10 million per delegate, something. yeah, about $10 million per delegate and only won american samoa which they actually don't even vote in the national election, people in american samoa. it was not a good night for him. stuart: i think he spent more per delegate than $10 million. >> he got 40, he spent more than $400 million. you're right. stuart: let's see if we can prove my point about the rally being the result of bernie having a bad night. look at the health care stocks,

please. they are all up. significant gains here because bernie did not do well. that means you're not going to get this medicare for all nonsense. that's my opinion. let's see if joel shulman agrees with me on this one. look, this is a rally this morning, up 500. is it a political rally? >> it is a political rally. when we go back over the last few months, we have seen two big issues, coronavirus and political news. whenever warren and sanders did well, the markets did poorly and vice versa. so this is clearly a political rally. we saw it on monday. we are seeing it again today. stuart: before we go any further, i have the feeling, a lot of people have said to me this is like 2008. especially that sharp decline in the treasury yield. >> so that was the one factor that was similar. it invoked panic because people didn't see this coming. traditionally when we see interest rates decline or increase, we get a little

preliminary advance knowledge. but this is -- was creating a little panic as a result. but it's very much unlike 2000 bathes ba because back then we had interest rates of 5%, 6%, the economy wasn't the same, we had a financial collapse. it was completely different. interest rates are low, we have strong economic growth, we have tech companies doing very well. fundamentally different than 2008. stuart: very glad to hear that. hold on. let's get the latest on the virus. dramatic news, dramatic action, i should say, from italy. what are they doing, ash? ashley: they are looking at closing all the schools across the country. they are having a hard time getting a handle. of course, we know this outbreak of coronavirus occurred in northern italy, but it is spreading. the number of deaths there has now jumped to 79 from over 2500 cases and the government says we may indeed, as early as today, they haven't made the announcement yet, close schools. that could last for at least 15 days. you know, the italian economy was struggling anyway.

they were expecting a half percent gdp growth this year. now it's almost certain by all economists' estimations, italy will be into recession because of this outbreak. stuart: real fast here, joel, to me, that's the fundamental problem facing america, how much does our economy slow down as people are less willing to mingle. >> i think most people anticipate one to two quarters. we have seen china get the problem pretty much under control with a couple weeks of just rest so if this is one or two quarter hit, we are factoring it into the economics for many companies and many companies will be spared. think about u.s. small caps. they won't have the same effects, they won't have supply chain effects. i think it's still going to be strong. at the end of the day if we see a trump rally, at the end of the year, i think markets end higher. stuart: reportedly, the streets of seattle look like -- seattle looks like a ghost town. i don't have the video but that's what i'm hearing about. have we got anything more on that? ashley: we do. businesses especially in downtown seattle, they have had nine deaths reported in washington state, almost all in

king county, and eight of the nine, 20 minutes from downtown seattle. as a result, the tourism industry has been hit especially hard. as one business person said, i have never seen downtown so empty. also, whole foods, trader joe's, all the major supermarkets, their shelves are empty and they are trying to refill, sanitizers are gone, toilet paper, you name it. all of these emergency supplies. it's having a huge impact on the economy in seattle. stuart: here's another story about corporate america sort of separating out. susan, jpmorgan, stay at home for a day? susan: asking thousands of its employees, this is to test their contingency plans in case the coronavirus gets worse. this is project kennedy, they are looking for 10% of their 127,000 workers to stay home to make sure their trading platforms still work in case of a coronavirus outbreak and people can make it to the exchanges and make sure that everything is in place. just to get back to seattle, amazon has reported its first

worker is under quarantine, one out of 55,000 that work in washington state near seattle. >> can i introduce one positive note? i'm hearing that smog is back up in china. honestly, this is the epicenter. people are going back to work, apparently. it's not just pretend that the factories are back in production. that is incredibly important to how it affects us. yes, it's important that nursing home people die and awful and tragic but what will impact our economy is whether supply chain in china -- stuart: pollution goes up, traffic jams return -- >> apparently that is back. the ring road around beijing at a halt. which is very good news. susan: very good sign. foxcom, the assembler of iphones, is up and running and getting back to full production by the end of the month. that's indicative the economy is back up and running. you so the lowest coronavirus new count in the day in the

entire epidemic so far. that's a good sign. stuart: do you think we can see the far side of this thing in china? not referring to anyplace else? >> absolutely. if we see the epicenter slowing down, the cases are dropping quite a bit, this is an indicator that you've got a population of a billion three and they have been able to get this problem under control. again, i think it's a one quarter hit, possibly two, but they will return to production and our supply chain will be filled again. stuart: very positive. we like the sound of that. okay. check futures. we've got 20 minutes to go before we open up. a big loss yesterday. looking like a solid rally at the open today, up about 500 on the dow, 160 on the nasdaq. president trump meets kim kardashian at the white house today. it's all about criminal justice reform. it's also about outreach to minorities. joe biden, yes, he is back in the race after the super tuesday wins. his resurgence, is that a concern for president trump? i will certainly ask the question. i don't think mr. trump will think it's a concern.

first, vermont, one of four states bernie won last night. pete hegseth is there. can he find a bernie supporter in vermont? i know he's looking. more "varney" after this. (woman) no matter what business you are in, digital transformation never stops. verizon keeps business ready for what's next. (man) we weave security into their business... (second man) virtualize their operations... (third man) and could even build ai into their customer experiences. we also keep them ready for the next big opportunity. like 5g. (woman) where machines could talk to each other and expertise could go anywhere.

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and turned it into the dna for a better system. materials made from recycled plastic woven and molded into all the things we consume. we created bionic and put the word out with godaddy. what will you change? make the world you want. they don't call it super tuesday for nothing. by the way, [ inaudible ]. stuart: look, i'm going to call that a gaffe, confusing your wife and your sister. that's not the right thing to do. look at this one, too, please. a protester rushed the stage, biden's campaign manager simone sanders jumped into action to stop her. wild stuff on super tuesday.

i think the protester was anti-milk -- anti-dairy. okay. pete hegseth is with us, in all places, a diner in vermont. bernie didn't get as many votes this time in vermont, okay, he won, he didn't get as many votes this time as he did in 2016. how do you explain that? reporter: not even close. i think joe biden had something to do with it, the unexpected rise for him. 85% of the vote in vermont in 2016 for bernie sanders in his home state. only 51% last night. now, i will say on "fox & friends" we talked to some diners here, some republicans who said they went out and voted for joe biden. we also met republicans who voted for bernie sanders because they thought he would be the easiest for donald trump to beat. the mind of democrats, you know, i try not to crawl inside the mind of a democrat too often, but i'm trying to figure out what they are going for and in this case, i really think they think joe biden makes a more

formidable opponent to bernie sanders and that's what vermont diners said to me this morning time and time again. they said we know bernie. we have been in this state for decades around bernie. he's never held a job, he wants to take all your money with utopian dreams that don't work. a lot of them said i hope joe biden is successful because at least then you've got someone who isn't a socialist on the ticket. they know him pretty well here in vermont. they were surprised about what happened in massachusetts, just south of here, that warren couldn't even come in second. she came in third, beat by biden. interesting night. stuart: i was watching your performance earlier on "fox & friends." i don't think you found a single valid bernie supporter. you may have found some republicans who voted for bernie because it's an open primary but i don't think you found a single bernie guy. reporter: we did not. we tried. i swear we tried. listen, it may be me, i might be a bernie or socialism repellant.

i own that if that's part of the reason. we tried. listen, i wear it with pride, like you do, stuart. but they are out there, clearly, enough of them, enough of them in california, colorado. but not enough in these other states. we'll see the bros, maybe they aren't as big and bad as we thought. stuart: pete, thanks very much for joining us, as usual. see you soon. reporter: i got to say, you want maple syrup or erica's beef jerky, you can't beat it here in vermont. stuart: are you in a diner, by any chance? is that it? reporter: erica's diner. that's why. stuart: bring some home. you want it. thanks very much. got to move. looks to me like the democrats are lining up behind two candidates. i think both of them have got rather negative image for the future of america. that's my opinion. listen to the president. wasn he wants middle class tax cuts. he wants prosperity. roll tape. >> i like middle income tax cuts. i think it would be a good time.

middle income tax cuts. if the democrats would approve it i would go along with it. reporter: a payroll tax cut? >> payroll tax, yeah. reporter: that would happen this year? >> i would do it if they can approve it. stuart: ronna mcdaniel with us, rnc chair. i will feed you good stuff here. it was a pretty nice contrast between the negative vision from the democrats and tax cuts and prosperity from the president. >> there's really no difference between bernie sanders and joe biden on the fact they want to raise taxes. they said that openly on the debate stage. and the president has once again said to the american people let's cut taxes, it's worked for our economy, that's why we have seen such great job growth, that's why we have seen wages up, because the president understood by cutting taxes and cutting regulation, you stimulate growth and it's very contrasting ideas to the democrat party, who is all about more regulation and of course, hiking our taxes. stuart: it's a great contrast. but i think the president is going to be judged in the election in the next few months over his performance on the

virus. what do you say? >> i think the president has been outstanding. he was right to shut down travel to china in january. i think that halted what would have been a greater spread. the fact that he's getting in front of the american public and reassuring them and calming them and being forthright about what's happening, where the outbreaks are, giving us information, then we need congress to pass aid and put that through for the coronavirus but i think the president has been a phenomenal leader. let's remember, the president is the one who said we shouldn't have open borders. we wouldn't let planes just land here without knowing who's on them so why are we letting people come to our southern border without knowing who they are. this is exactly the type of scenario why that is so important we know who's coming into our country. stuart: thank you very much for joining us this morning. i know you are very busy, very important day. we will move on and thanks for joining us. appreciate it. all right. now, look at dollar tree. down, what, 1.8%.

kristina partsinevelos at the exchange, what's the ceo saying about the virus? is that the problem for dollar tree? kristina: no, actually they are trying to mitigate fear at dollar tree, their latest earnings report came out, they have a conference call right now, the ceo trying to reassure investors right now they are seeing production pick up as well as factory attendance increasing in china which is a positive. i know liz peek just said it before, too, pollution levels have started to increase in china which shows that some people are going back to work. the dollar tree ceo also said that global sourcing team in china, they do third party quality inspections, that's coming back to normal levels as well. they are working with freight consolidators so it seems like ports are starting to improve. nonetheless, you are still seeing the stock down almost 2%, reason being they missed their sales target or missed the expectation from a lot of analysts. overall, the stock had been down over 14% for the year. they also offer a family dollar

so weaker sales but the ceo is telling us on a conference call right now that it's starting to pick up in china. back to you. stuart: thanks very much indeed. you will get a lot of work at the exchange this morning. that's a fact. next, the u.s. has carried out air strikes against the taliban. ashley: yeah. they are calling them defensive air strikes. they haven't launched any types of air strikes in 11 days. don't forget, there was a peace deal signed on february 29th but these are taliban fighters, in particular, four taliban fighters. we don't know their fate but it would not probably be great if they were the subject of this strike. but taliban has continued its attacks on the afghan national defense forces. part of the problem here is that the afghan government and the taliban cannot agree that the afghan government will release some 5,000 taliban prisoners, which was part of the deal that the u.s., it was all a condition-based agreement and part of that agreement to bring peace to the region was the release of these 5,000 taliban prisoners. the afghan government to this

point has said no. stuart: got it. all right. let's recap, just in case you are joining us now. we had a big drop for the market yesterday but overnight came news that bernie sanders, the socialist candidate, has not done well in super tuesday primaries. that is helping the market this morning. we got a rally on our hands, up 600 on the dow, up 170 on the nasdaq. we will take you to wall street shortly.

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stuart: new presidential tweet. here it is. i will be going to the great state of tennessee on friday. the usa stands with the people of tennessee 100%. whatever they need. the tornados were record size and velocity. god bless your loved ones and all the families affected. thanks to governor bill lee and marsha blackburn. onscreen, the viral video of mike bloomberg licking his fingers after eating pizza. mr. trump tweeted about it. here we go. lost it. where is it? mini mike, he said, mini mike, don't lick your dirty fingers. both unsanitary and dangerous to others and yourself. okay. let's move on, shall we? mr. bloomberg, i say really bombed yesterday despite spending millions. what do you make of this?

his campaign is evaluating the situation? >> well, he may drop out. he ended up last night with about i think 44 delegates, something like that, spent a fortune. but remember, he got in this race because he didn't think joe biden had the ability to carry it through to the end. he wanted a moderate democrat to win, was appalled by the policies of bernie sanders and elizabeth warren and i don't think that changed when he came out and said he would spend whatever it took, no matter who was the candidate, i never believed that. i think if it's bernie, he simply won't do that. but mike bloomberg really wanted to be the moderate who won and we have now, i was going to say a vibrant moderate in the race. i'm not going to say that. we have a person who is a moderate who is being held up by the establishment democrats and i think honestly, this is for bloomberg just a bit of a vanity project and also, kind of reaping the rewards of spending hundreds of millions of dollars over the last several years to become the major power broker in

the democratic party. i think he still has that. he ends up with delegates and money. he'll be okay. the question is whether he stays in the race. i don't think so. stuart: i would contest your view of joe biden as a moderate. >> i agree. compared to bernie sanders, anybody is. stuart: what have i got? a virus update. ashley, what do you have? ashley: just reading this. the italian media saying in fact, indeed, the italian government has decided to close all schools and universities until mid-march. we are talking 14 days, much like in japan and in china. stuart: the imf, what are they saying? ashley: they say the coronavirus outbreak poses a serious threat to the world economy. demand is falling due to the higher uncertainty but they say the financial system is much more sound than we were in that position back in 2008 with the financial crisis. it's very hard they say to measure the impact but no doubt it's going to be at this point, it's going to take a bite out of growth around the world. stuart: okay.

real fast, d.r. barton is joining us. am i right, we are all right saying this rally is a political -- a market response to super tuesday? >> i think it is a market response. i think there's some rebound from yesterday's down market. we will get some more of that. but i do think that bernie is a bigger story right now. stuart: we are off and running and already up 590 points. i've got a sea of green on the left-hand side of the screen. now it's all green. every dow stock, all 30 of them, are in the green. they are all up. the dow is up 600 points, 2.3%. the s&p, have we got a similar percentage gain? no, we don't. we are up 1.7% but we will take it. the nasdaq, i think that's going to pop. yes, it is, up 1.8%. that's 159 points higher. show me the big tech. that's surely helping the nasdaq. big tech, all of them higher. microsoft, apple, alphabet, amazon, facebook, up.

health care stocks, we showed you them about 20 minutes ago. now they have opened and yes, they are up big-time. 10% higher for united health. that's a dow stock, it's adding a lot to the dow. these stocks are up because bernie sanders did not do well yesterday in super tuesday. there goes medicare for all which the health care stocks had always reacted negatively to. shares of inovio, up 9%. what do they have a vaccine? ashley: they do. philadelphia based company. they say they are ready for human trials next month, in april, here in the united states and then on into china and south korea. it's called ino-4800. it's shown very good initial results. they say they hope to have one million doses of the vaccine by year's end. stuart: year's end. which is a plus but -- s ashley: ten months from now. stuart: 700 up on the dow.

executives from the airlines are going to the white house later. what's with that? susan: that's to better track passengers on board these flights for surveillance so you can track covid-19 if one of the passengers do indeed test positive for it. also, they are working to improve surveillance with airports as well. so far they have relationships with 11 airports. i think that's the key now is how do we track passengers and those that have been infected. stuart: d.r., i'm looking at american airlines there. $17 a share. would you be tempted to buy it? >> you cannot -- the one thing you cannot bottom pick here is entertainment and gaming stocks. they are going to have a longer duration hurt than most people. no. stuart: cruise lines are relaxing their cancellation fees, i guess that's good news. ashley: it is. they were doing this only for those cruises headed to asian ports this spring, but there's been a lot of re-evaluation by people going anywhere in the world so they are now starting to relax their cancellation

policy for anywhere that these cruise lines go. norwegian cruise line being one of those, viking cruises also saying we understand you may want to change your plans so they are being more lenient now. stuart: cruise lines have a p.r. problem. who wants to be on a floating -- >> ultimate nightmare, right? stuart: it would be. yes, it would. susan: royal caribbean said the damage from coronavirus would be ten times hurricane dorian if all asia itineraries were canceled. that's the impact of coronavirus. ten times a category 5 hurricane. stuart: carnival at $31 a share. i remember that like quadruple that level, over 100 -- >> just recently, too. at the end of 2019. stuart: did i say they have a bad p.r. problem? carnival promptly moves lower. it's not me. hotel stocks. i know they have been down recently. where are they today? modestly higher. all of them, on the screens right now. then we have what we call stay-at-home stocks like netflix

and grub hub. they are doing well because of the virus, i guess. susan: well, that's true. netflix is actually up over the past five days whereas the s&p 500 is actually down some 8%. but if you don't have anything to do because you can't go out, you are quarantined, you stay home and you watch your netflix, you order food in which is something i think you might do, if you might be quarantined. so grub hub has been rallying and we have seen that with possibly peloton because you want to work out at home. why go out? do you really want to go to a sweaty gym? >> one of the few places i think you can still look, there's a company teledoc, where you can call a doctor, not have to go. i have used them multiple times before for other reasons and their stock, we look at that, is at $125, up over 25%. those kinds of stocks, that's one place to look. >> that really makes sense because you keep hearing warnings about don't go to an emergency room because hospital workers get infected and --

stuart: what do you do? >> you call teledoc. hope for the best. stuart: that's a consultation online? ashley: by phone or video. they can't treat you. they can maybe diagnose. you have to get to the hospital if you need help. >> there is not much treating going on anyway. ashley: rock and a hard place. if you need help, you've got to go somewhere. stuart: on the screens now, work at home stocks. you got more on that? ashley: there's an investment firm that's put out a stay at home index of stocks, 33 stocks in it. facebook, video game developer activision blizzard, peloton, food delivery service grub hub. these are all, what did you call it the other day? cocooning stocks. >> there will be a baby boom nine months later. it's true. every time there's a blackout or any kind of other event that keeps people at home.

it's true. it's true. ashley: in december we will come back to you. susan: okay. stuart: okay. i'll tell you where i'm going, i was born nine months and two weeks after the worst english winter. >> there you go. stuart: 1947 was a terrible winter in england. ashley: you were trapped. susan: that's why most babies are born in the fall because of the winter. what do you do? stuart: we really digressed here. do we have china stocks? look at this. we've got crude oil back up to $48 a share. we've got -- these are china stocks. alibaba is up, baidu is up. jd.com up again, $43 per share. how about commodities? this is something we don't really follow very closely.

oil is up, brent oil is up, gold is down a bit. copper is a very difficult thing to quantify. it has bottomed and is starting to go up. is that a positive sign? i don't have a quote for you. d.r., obvious question, with all this extraordinary turmoil and the yield on the ten-year treasury dropping below 1%, does this remind you of 2008? are there similarities? >> there are. i will tell you the first one we have already seen this week twice. even in a down market, that's when we get the biggest single up days, the top 20 individual up days over the past 25 years have all happened during the dot-com boom, the long-term capital management crisis and the 2007-08-09 crisis. we haven't seen the end yet. it's not yet time to go back in with both feet. we do not know how many cases there are yet in the u.s. and many other countries because we haven't started testing yet. we have tested fewer than 1,000 people in the u.s.

that's going to ramp up starting this weekend. we are going to see some different numbers. if you have money to put to work, you are going to get to put it to work at a lower point than we are today and that's my message to folks out there. stuart: there's a silver lining to the sharp decline in interest rates and that would be mortgage rates coming down and a rush to refi. i'm told that the refi last week was up 26%. new mortgage applications up 15%. i have to believe that that's good for the housing market, good for the economy overall. susan: sub-1 on the ten-year treasury was at 3% if you wanted something long term. that's incredible to refinance a mortgage at just 3%? stuart: yeah. >> there's going to be a lot of activity. it helps new housing starts, it helps the whole industry sector which has been a laggard the last couple years. looks pretty good. stuart: it's important to look to the other side of the virus. i don't know when the other side arrives but when it does arrive,

it should be pretty positive. susan: sharp and fast as it usually does. stuart: we have two big retailers reporting earlier today. urban outfitters, nordstrom. they are both down significantly. susan: urban outfitters usually targeted towards the millenials and gen-zs, younger fashion crowd. they disappointed when it comes to quarterly profits, missed estimates, i hate to say it but that's how you value stocks, right. stuart: i don't. susan: that's how you value stocks. stuart: i don't. susan: all the news is in the market, priced into the market. that's where the stock moves and you find value. that's how you price stocks. stuart: i didn't look at expectations when i bought microsoft at $20 and $25 and made a ton of money. i couldn't care less about expectations from wall street. susan: when you bought microsoft in the early 2000s, what was priced into the stock was slow growth and people not using windows anymore. who knew that nadella would come

in and blow out cloud? that was a surprise. stuart: i could see it coming a mile off. ashley: what a visionary. >> susan has the short term view, you have the long term view. both good ways to look at a stock. stuart: i'm the granddad here. let's not forget. deal with nordstrom. ashley: yeah, tough. not great on earnings, not great on sales. disappointing the street, that's another term stu loves. they have decided they had co-presidents, eric and pete nordstrom, no longer. eric nordstrom takes over as sole ceo. they have struggled. they are making some gains online. they tried this new approach where they opened up stores, small stores, where they had no inventory. you go in, have alterations done or pick up stuff you have ordered online. kind of interesting, is it not? stuart: did it work? ashley: eh. just started. >> very innovative. ashley: yes, they are trying. stuart: it's 9:40 eastern time. that means we have to say good-bye to the lady who

announced there would be a baby boom this year. that was a sterling comment, the best comment of the day so far. i will say that. doc siegel might be joining us next hour to confirm. thank you, liz. >> thank you. stuart: all right. staying on retail, the clothing rental company, this is kind of new to me, rental company called rent the runway, adding new subscription options. retail watcher kristin benz is with us. can you explain this? i don't understand what's going on here. >> let me break it down for you, stuart. so millenials really like to recycle and up-cycle things, right? they want to be more environmentally conscious. so instead of going out and buying a lot of clothing in their closet, they have a subscription, just like it would be netflix or disney plus or anything else but it's for clothing. you get four items a month, you wear them and rotate them, you

can switch them back to the company until you find ones you like, then you give them back and they dry clean them and pick them up and boom, next month, whole new set of clothes. stuart: by the way, mike bloomberg says companies like rent the runway are hurting retail. hold on a second. just listen to this. roll tape, please. >> what i think it is, is it's real real where people resell their own clothing and it is rent the runway, i can just tell you in my company, all the young women, they don't sell men's clothing, it's only women's clothing, they pay 85 bucks a month, they get five outfits, they wear them all week, all the month, they don't bother to clean them and they mail them back. that's what's hurting the retail business. amazon is part of it but not the only thing. stuart: what do you say, that is hurting the retail business? does he have a point? >> well, clearly rental clothing was top of mind with american samoa voters last night so i don't think he has a point.

i don't think that it's hurting the retail business. consumer behavior and technology changed the retail business, but i don't think bashing your female employees for being savvy is actually a winning election point. stuart: can you confirm for me that youngsters really do this, rent clothing, send it back, they do it to save the planet? is that serious? >> i think they do it for the -- i don't think they really do it to save the planet. got to keep that instagram feed looking fresh, know what i'm saying? stuart: no. >> they are concerned with the environment. they do use that as a unique selling proposition but yes, people are doing this. the stigma of renting clothing and buying second-hand, that's out the window now. that's a very very important change in consumer behavior that you should start watching. stuart: i'm glad you filled me in on that. hang on a second. a comment from d.r.? >> yeah, i think mr. bloomberg has sorely missed the point here. because this is hurting retail a

little but what it's doing, it's allowing these people to buy upscale clothes that they wouldn't normally be able to afford, to rent it, to look nicer and to turn it back in, even when you are going out for a big gala event, you can rent ball gowns from rent the runway. yes, you can. so i think that mike has missed the point and that this company is something to keep an eye on. stuart: we are just giving an extraordinary commercial for rent the runway. they didn't pay us a dime. um goi i'm going to move on to target, they are expanding their grocery delivery service. are they behind on this? it seems like a very good idea in these times of virus but are they behind? >> well, you know, color me a skeptic but they are adding milk and booze to the pickup line. this is innovation? they should have been doing this already. i'm not, you know, thrilled at their innovation right here. i think it's great they are doing everything they can. the good thing here is this rising tide is lifting all boats for the u.s. consumer. amazon competing, walmart

competing, target competing, you as the consumer is the winner here. i really don't think just, you know, adding milk to the pickup line is cause for celebration. stuart: okay. you straighten me out on so many things, i'm really happy about that. >> aren't you glad i'm here? stuart: yes, i am. in fact, we will invite you back soon, too. >> wonderful. stuart: okay. all right. let's check that market. we are 15 minutes into the trading session. this is a wednesday morning and we are up 550 points. big drop yesterday, back up 500 today. here's the all-important anxiety indicator. the ten-year treasury yield, down today to .97%. the anxiety is that money is flowing into the treasury market, pushing up the price and the yield comes down. it's an anxiety indicator, not looking good right now. .96% as we speak. gold, not doing much. it's not really been much of a flight to safety throughout this

virus period. it's up, what, down 70 cents at the moment. but oil, that struggled back to $48 per barrel. it was at $44 just a few days ago. next case. facebook, bowing to regulators over libra. tell me more. susan: remember facebook and libra being this cryptocurrency project that would create a single global digital currency that any of the 1.7 billion users could just send over with no bank account, no money and could just send over as a text? that has changed because of the regulatory environment. people are concerned about the data being shared within the facebook community so there has been a rethink. now they are recasting libra as a mostly payment network so you would use multiple coins according to people familiar with it so with the "wall street journal," so instead of just being backed by pure crypto which has a lot of the community -- probably the most controversial part of it, that and the facebook linkage, but instead they will back it with real currency. stuart: that's interesting. that's quite a development, actually.

it really is. susan: after a lot of people bowed out, yes. stuart: for sure. hold on a second, d.r. i want to get back to the ten-year treasury yield. we just -- i'm sorry, .96%. look who is here. jay farner, ceo of quicken loans. this man is a big hitter in the mortgage market, are you not? >> thank you. thanks for having me here. appreciate that. stuart: a little compliment. hey, the market's up. i'm feeling generous. >> that's right. i can sense the energy. stuart: i'm told that refi activity last week was up 26%. new mortgage applications up 15%. that's because the drop in mortgage rates. >> rates are great. i would say we were up probably closer to 40% in the last week. stuart: in the last week? >> in the last week. things are booming right now. with interest rates below 3% on the 15-year and approaching 3% on the 30-year, it's probably one of, if not the best time ever to refinance. stuart: i can refinance through you? >> well, of course. rocket mortgage is one of the

technologies we rolled out and so it's quite easy, people jump online, 10, 15 minutes, put in the application and in 30 days, you are closed and lower interest rate, lower payment. stuart: okay. look, i have to take issue with you. >> okay. stuart: you say i can get a refi through you, it's really easy, just go online. it's not easy. >> we need to do your mortgage, i think. stuart: but it's not. i mean, you have to search everywhere for this, that and the other. you've got to use these passwords here, passwords there. >> things have changed. a lot of our clients, they download their assets, we can determine their income all electronically so the documentation is very limited. in many cases, people will get a property inspection waiver so an appraiser doesn't need to come to the home. even if they do, it's quite simple. i think our average turn time on a refinance at this moment in time is still below 30 days. stuart: okay. >> we make it easy. stuart: you are beginning to convince me here. my banker is going crazy, by the way.

do you think we are going to see mortgage rates fall some more? look, this drop in the ten-year yield is very recent. literally a week old, that's all you got. have we got a ways to go to go down on mortgage rates yet? >> i would be surprised if we see them go much lower. i know they track the ten-year treasury but there is some -- only so far, we are getting compression at the end of the curve and with demand the way it is, there's only so much supply out there. so i don't think you will see mortgage companies dropping rates. this is about as low in my 25 years that i have ever seen. i would hate to see somebody wait and miss out. now is about as good as it gets. stuart: thank you very much for being on the show. >> thanks for having me. appreciate it. stuart: if you're not careful, i will come to you for a mortgage. you wouldn't want to deal with me. thank you, sir. we do appreciate it. thank you. the hate for the president and his supporters reaching a new level of what i'm going to call derangement. a democrat from colorado says the spread of the virus at a trump rally would be a good

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stuart: i want to bring in asia watcher gordon chang to discuss the supply chain coming to us from china, and maybe some changes that we can expect. gordon is with us now. welcome back, gordon. good to see you. >> thanks, stuart. stuart: we are very much reliant on china's production, china's manufacturing, for a whole range of supplies coming to us, especially drugs. i see a change coming and a big change. how about you? >> well, certainly. in the pharmaceutical areas where we are critically dependent on china, antibiotics either 80% come from china or 97%, depends who you talk to. this is a strategic issue. so it's not -- it's gone beyond economics. there will be changes to that. also, when you talk about some electronic products, there's going to be changes there as well because that's also strategic. china is using its role in the supply chain to spy on americans and others. that's going to end fairly soon. stuart: fairly soon. it took awhile, though, to

change some of these things rrnrrn around. >> yes, of course it will but i think the decision is baked in. it might take a little bit longer under a democratic president but i think president trump is going to move pretty fast on this. that's one of the first things he did coming to office, 2017, july, he appointed that task force on national vulnerability in the supply chain. stuart: okay. we've got reports this morning that smog is back in some major cities in china. in other words, the factories are back up and running, they are belching out the smoke so the smog is back and the traffic jams are back. i suppose you could say that those are two positive indicators on the grounds that china is back to work. >> well, it certainly is. xi jinping last month said china's got to get back to work. so workers are returning to job sites. the issue is, once you put them in the job sites before the virus has been subsided, what's going to happen is you are going to have new infections and people can be reinfected. so this probably is going to have an effect of prolonging the

epidemic. but short term, this is really very good for the chinese economy. stuart: and very good for america, too, as a matter of fact, if they are producing and it's coming here, good news. thank you very vp for joining us. appreciate it. next case, we have kim kardashian, she's headed to the white house 10:30 eastern this morning. she's talking prison reform with the president. when it happens, you will see it. i say the democrat contest for the nomination is down to a two-man race. i will explain it all. i think both of them actually, bernie and joe, i think both of them have got a rather dark vision for america's future. i will discuss that in my take coming up, second hour of "varney & company" on tap next. as a struggling actor, i need all the breaks that i can get. at liberty butchumal- cut. liberty biberty- cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ . . . .

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stuart: precisely 10:00 eastern time. the market is holding on to much of the rally. we're up 450 points as we speak. the 10-year treasury yield right now is at, .95%. it is getting close to the record low we touched yesterday, well under 1%. we have the latest read on the services sector. susan? susan: very good. 57.3 in the month of february which is higher than january. that is an acceleration. services make up 70% of the u.s. economy. the fact we're looking at big growth when it comes to services in the u.s. very positive, especially for the u.s. economy. stuart: it is a big number.

a very positive number. ashley: we hit a five-month high in january. that will be more improvement than that. stuart: you have something else? susan: highest since last year. one-year high for ism services number. stuart: let me break away for a second. i have to update, we have fresh news on the virus here in new york. what you got? ashley: from new york governor cuomo, we talked about the gentleman in westchester county who tested positive for the coronavirus. the governor now saying that his wife, son, daughter and a neighbor have also all tested positive for this virus. his son is a 20-year-old student at yeshiva university in new york city. we understand the neighbor who tested positive drove the man to the hospital. this is easily contracted person-to-person. stuart: get strong service sector number, bring in shah gilani. you told us recently you're not

buying at this point. you're not buying yet. this services sector number is so strong, really is strong, given the market a bit of a lift. you're laughing. are you tempted to come back in and buy? >> i've been tempted, stuart. i dipped my toe into disney today only see my fortunes reverse on that quickly yesterday. i still love disney. it is one of those stocks i want to buy into. that list is getting longer. dipping my toes in day before yesterday was a bit, i think maybe the worst is past. i want to start to accumulate some stocks. action the following day obviously turned my thinking around. ism number is absolutely fantastic. relative to what is happening in china, the u.s. economy is so strong, it is fundamentally sound. i think a lot of money is coming in. the market will hold up barring anything further happening in china, which is really in dire straits.

stuart: hold on a second for me, shah. i have a couple items to deal with. happening this hour. treasury secretary steve mnuchin is on capitol hill. he is testifying about the budget. dr. anthony fauci also testifying about the budget but we want headlines on the virus. if we get them you will hear them real fast. dow is up nearly 500. now this. the state of play for the democrats. it is a two-man race, 78-year-old socialist, bernie sanders, versus 77-year-old so-called moderate joe biden. mike bloomberg's campaign is evaluating its future, having spent so much to achieve so little he looks about done. elizabeth warren should drop out soon after coming in third in her home state massachusetts, and forth in her native state of oklahoma. biden versus bernie. it is going to be a bare-knuckles fight. latest count, 453 delegates to

the convention. bernie has got 382. you knead 1991 to secure the nomination. okay. even if biden sweeps the table in the remaining primaries likely to be a highly contested maybe even brokered convention. i think that that is good news for president trump. state of play in terms of policy. more good news for president trump. both democratic front runners would raise taxes big time. both would clobber america's energy dominance. growing the economy is not the priority for either of them. these guys are job killers. next, the ability to perform on tv, very important in modern politics. more good news for the president. bernie is permanently angry. he has no humor. like all socialists he is resentful of success. that doesn't play well on the screen. joe biden stumbles and appears unfocused. that is amplified on tv.

and so are his gaffs which will be used against him over and over and over again in trump's commercials. here is the contrast. president trump goes into the election with a bright, positive, vision, middle class tax cuts, full employment and prosperity. he is really, really good on tv. the democrats whether they pick joe or bernie, what they go into the election with a victim's view of america and that doesn't play well on television. listen to this. >> we are tied in florida and i believe we're going to win in texas. all i can tell you is that we have had a great, incredible group of thousands and thousands and thousands of volunteers in texas, in california, all over this country. i don't know what will happen later tonight. we're doing well in texas right now. [cheering] stuart: well, he didn't do that well in texas. actually he lost in texas.

he came in second, 33%. biden 30% with bernie. let's bring in jason chaffetz, fox news contributor. seems to me the democrats are rejecting socialism big time or am i reading my own opinions into this? >> well i think it is more of a split ticket actually. when you see bernie sanders, who is considered a joke in the united states senate, he has been there for a long time. never passed a single bill, i was there eight 1/2 years. i passed like eight bills. he has been there for decades, never passed a single bill. he represents the radical left side. they try to pin joe biden as some sort of moderate. he is not a moderate. he is out there promising to raise taxes. his position on illegal immigration is just unbelievable. he buys into this whole "green new deal" plan. when he is exposed for what he really believes, i think people

look at that, say, that's pretty radical and off to the left for former senator from delaware and former vice president. so, i got to tell you, there is enthusiasm gap between donald trump and the other two. bernie sanders has a legitimate base of people that support him but joe biden, lucky if he has 15 people that show up at his events. stuart: now i think president trump looks real good to be reelected. i don't think joe biden and bernie sanders have much of a chancer. but am i committing the same mistake as people made before the 2016 election writing off donald trump as an impossible candidate but eventually won? am i doing the same thing with bernie and joe? >> you know, when you would look, say donald trump as the candidate, people say, oh, that can't possibly happen, i think of like nevada where all of a sudden he put out one tweet, donald trump would have tens of

thousands of people to show up. he had a base of support, groundswell that washington, d.c., didn't understand. that is not happening with joe biden. i have never met a person, who said, boy i can't wait for joe biden to get in there. i just don't see that. i think that enthusiasm gap is very different. i think if donald trump plays his "a" game, he wins, he wins handily, this looks more like walter mondale running against ronald reagan maybe where he wins one state, his home state of delaware. stuart: i remember that you don't. simple as that, jason. i do remember that in 1984. jason thanks for being with us today, sir. always appreciate it. >> thanks, stuart. stuart: edward lawrence is with us. wait a minute, edward is in vermont, what is the mood like there, this morning? bernie didn't get that many votes not as many as in 2016. reporter: exactly not doing as well as in 2016. there is a little disappointment among senator bernie sanders supporters here in vermont.

however they are hopeful, they were hoping to edge out texas but hopeful they got california. that will propel them for the rest of this way. last night senator bernie sanders told a frenzied crowd that you know the political establishment will not be able to beat president donald trump. listen. >> you cannot beat trump with the same old, same old kind of politics. [cheering] what we need is a new politics that brings working-class people into our political movement. reporter: bernie sanders will work on the ground game going forward. he had a huge ground game in california where he took that state. he is hoping to do that in washington, some other states happening next tuesday he believes. that ground support will help inspire other people to his movement, as he calls it. back to you. stuart: only time will tell.

thanks, edward. all right, breaking news, "axios" reports that mike bloomberg is, suspending his campaign. that is a report from "axios." susan: not surprised. poor performance. it was 12 1/2 million for every delegate he won last night. that was the analysis we did here at fox. our own analysis he actually didn't spend on any of the states after super tuesday. so i think really dependent how he would do last night whether or not he would continue to spending more money to propel himself forward. stuart: doug schoen, frequent guest on this program, a bloomberg campaign worker, he just confirmed bloomberg is suspending his campaign. that's confirmed that he is suspending his campaign. now that is of no immediate impact on the market but i think the market will digest this. it is really a two-man race for the democrat nomination. ashley: yes. susan: wouldn't it be positive, he is not splitting moderate vote with biden.

biden has better chance seizing the nomination? stuart: that is -- ashley: positive momentum for biden, no doubt. stuart: shah gilani with us, do you think this is market plus, bloomberg suspending his campaign, he is out? that would throw more support to so-called moderate joe biden. i have not seen any market reaction. is it a plus for the economy and the market? >> i don't know that it is a plus. i don't see it as a plus. i see it as a plus for biden. the commentary moderates leaning more towards biden coming off the bloomberg camp is likely for sure. i don't think the markets look at this. i don't think the markets saw bloomberg having much of a chance. he got into the race far too late in my opinion, really didn't have. of a chance no matter how much he spent. i don't think it will have impact on the market. the fact these two candidates, bernie, joe, one will go up against president trump, i think speaks to the fact that the divide between them will be so

demonstrable on television i don't think either one of them have a chance. stuart: i believe we're the first to report this. i'm looking at other television monitor screens there, other networks. i think we're the first out there with this news. bloomberg suspending his campaign. big deal. shah gilani, thank you very much for joining us and i do notice by the way the dow is up 500 points. maybe that was a tiny bit of a blip there from the "bloomberg news." let's go over this. check the markets. up 508 for the dow. 48 for the s&p. the nasdaq is up 125 points. next bernie sanders, yeah he took california, the biggest prize in super tuesday but i say he wouldn't have won it if it weren't for all those early voters. larry elder, our voice of reason from california joins us. what does he think about that? it was a huge night for joe. he won nine states. it was all thanks to key endorsements from african-americans in south carolina. next, south carolina senator tim

scott, he is on the show and he is next. plus happening this hour, kim kardashian will head to the white house. she will meet the president and jared kushner over criminal justice reform. bring your headlines if we get them. ♪ there's a company that's talked to even more real people than me: jd power. 448,134 to be exact.

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kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. stuart: back to breaking news i believe we broke first. mike bloomberg suspended his campaign. he will support biden. the statement please. ashley: he said three months ago i entered the race for president to defeat donald trump. today i exactly leave the race for the same reason. it is clear making achieving

that goal will make it more difficult. after yesterday's results the delegate math is virtually impossible and viable path for the nomination no longer exists. he is also backing joe biden. i know joe for a long time. i know his decency, honesty and commitment to issues important to our country including gun safety, health care, climate change. good jobs. stuart: in other words he is throwing his support to the other moderate if you want to call joe biden a moderate. that is going down well on wall street. look at markets. we're up 600 points. we're up about 470 when this news hit the market. now we're up 600. by the way, let's check the 10-year treasury yield again please. moments ago we were at .95% but we've gone up a bit from there to .98%, okay. ashley: wow. stuart: some money out of treasury bonds. some into stocks. because of bloomberg. susan: what do you think about the strategy putting all your eggs into super tuesday. didn't work for bloomberg.

didn't work for giuliani. seems like a losing strategy. stuart: i wonder if they do super tuesdays in the future? will they box themselves in like that? that is open question. susan: very good question. stuart: let's stay on politics, i say joe biden is now the clear winner after super tuesday. he picked up key endorsements from prominent african-americans in south carolina and he swept the south. look at this. in 201690% of african-americans went for hillary. 8% for president trump. tim scott, south carolina republican. mr. senator, great to have you with us today. obvious question, may i start with this one, what proportion of the african-american vote will president trump will get this time around? >> no question when you look at president's performance he will see marked increase in african-american support. he had 8% in 2016. i predict closer to 12%. that is 50% increase.

the trump economy is something to be, cannot be rivaled in my lifetime. think about the fact that unemployment rates for all minority groups and for the country are at all-time lows. for woman, a 70-year low. the trump economy is producing results that we have not seen in my lifetime. i would love to see that race against whoever the socialist put up next. stuart: the socialists. you include joe biden in that one? >> he wants a 15-dollar minimum wage. that is artificial increase that will hard consequences within our economy. stuart: absolutely it will. if there is a swing as you're suggesting, a swing in substantial portion of the black vote to president trump, does that guarranty a trump win and guarranty a democrat loss? >> if we can get to 14 or 15% of the african-american vote, based on where we live around the country, there is no doubt that would be an absolute guarranty victory for president trump. if you get to 12% that puts us

in the 80, to 85% range. i would love to be there. i think we'll get there. not simply the economy. the president outperformed on criminal justice reform. supporting historical black colleges and universities. research on scientific basis for sickle sell anemia. there are a lot of stories and narratives i look forward to contrasting the democrat party which increases wages, which means we'll lose jobs. this will be very interesting race when the definition of moderate starts with socialism light. stuart: my how times change. i do want to ask but the virus. you were in the room yesterday with the president. what is your judgment of how the president is handling this problem? >> i think president trump has done a very good job of evaluating, analyzing and then reacting to what is necessary for the american people to have confidence that our medical experts are major part of the apparatus making decisions around the coronavirus, number

one. number two, he is putting the right people in the right places so as to prevent a widespread of the virus. what we can expect however is more cases. we had less than 10,000 people, maybe less than 5000 tested. by the end of this week we'll have the ability to test hundreds of thousands which means numbers go up on folks who have been infected with it. the great news the containment strategy the president presented at the beginning of the virus, saved us months and months of time, hundreds, if not thousands of lives, administration's response has been strong and it has been solid and it has been consistent. there are those who are alarmists out there who want to find any way to use anything against this president. that is not only troubling, i think it's dangerous. we have to have confidence in our medical experts. thank god, we have the vice president leading the charge. stuart: calm down, everybody.

senator tim scott. >> absolutely. great to be with you. stuart: more on the virus. iranians and we're told, continue to lick the shrine qom. it has serious consequences. ashley: it does. two men were arrested in iran for doing this. these videos gone viral seen by over a million people. the two men arrested we don't know where that gentleman is one of them. they face two months to two years in prison, up to 74 lashes in a flogging. here is the interesting story, the iranian government has requested the closure of all the major shrines but the powerful claire ricks either refused -- clerics refused or completely ignored that request. tens of millions of people visit the shrines across iran every year. that is why they're having a hard time preventing the spread.

stuart: they're supporting it. that is what they're doing. quickly, italy, school closure is it confirmed? ashley: it is back and forth. the media in italy says yes. the italian government we have yet to see anything official. they're seriously closing schools and universities until march 15th. they have done everything they can. they have the second highest death rate, one of the reasons for this belief the italian population is the second eldest in the world behind japan. stuart: it is. ashley: there are more vulnerable patients to the virus. close to 80 deaths. stuart: more action by a company to do something about the virus. twitter? susan: providing a platform for communication. twitter says the government entities that want to disseminate public health information will be permitted to promote ads on coronavirus. they say that though they will halt any attempt by advertisers to opportune is i cannily target inappropriate ads, facebook in a

long blog post, mark zuckerberg says w.h.o. can advertise as much as they want on facebook so the message gets out there. the tech companies are trying to provide platform for communications. stuart: a prison reform group with kim kardashian is meeting the president. we hope to get the president on tape maybe answering some questions. not sure about that. if he speaks, you will hear it. youngsters did not turn out to vote on super tuesday, not in any numbers. that hurt bernie. we'll break it down with kristin tate. young americans for freedom and liberty. she is an analyst on that next. ♪.

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stuart: let me alert you one more time. getting something from the president. about to meet with kim kardashian on prison reform. if he says something, you will hear it rapidly and that is a promise. update the virus in new york. my goodness, it is spreading, ashley? ashley: governor says a man in his '50s in westchester county, his wife, son, daughter and a neighbor also tested positive for coronavirus. the 20-year-old son we

understand is a student at yeshiva university in new york city. that school is closed foretoday. 14-year-old daughter is a student at the sar academy in the bronx. we talked about that yesterday. by the way the neighbor who tested positive was the person who drove this gentleman to the hospital and also contracted the coronavirus. stuart: that suggests how easy it is to transfer the virus and to get it. if you just drive somebody to wherever, you get it, that's a little, cautionary tale. ashley: it is indeed. susan: what a good samaritan. i love that. great neighbor. stuart: this is important. we're up 645 points. canada just dropped its interest rates by half a percentage point. bloomberg is out out of the rac. that backs up the moderate joe biden. the market likes it. dow up 600. oil inventories what have we got. ashley: up 785,000 barrels.

we were expected a bill of 2.6 million. which didn't have as much as storage we thought we would have, so-called experts thought we would have. put more pressure. stuart: up 1.10 as as a we spea. amazon employee tested positive for is. susan: self-quarantine. he left work february 25th. they notified all individuals come in contact with the employee. south like union complex in seattle. don't forget in seattle, amazon employs about 55,000 workers. there is concern how much the virus spread. in that area king county, where seattle is, we had nine deaths reported and hundreds of coronavirus confirmations. there is concern about community spread. stuart: we heard seattle is not exactly a ghost town. not much foot traffic. really slow down in washington

state. next one, check costco, they have really benefited from shoppers flocking to their stores to stock up on vital supplies. that's appropriate there for to bring in che wong, ceo of boxed, which is in fact an online costco. che is a frequent guest on the program. we've been with you since the very beginning. welcome back. >> just the last 120 seconds, oh, my gosh, what is going on in the world. stuart: really. you must be benefiting of people stockpiling. can you give me numbers? >> i wish it would be under more fortunate circumstance. we sell hand sanitizeer and bacterial stuff. traffic is up. for certain items it is up 5,000%. stuart: you're kidding? >> we're seeing run on package goods. stuart: do you have supplies coming in, antibacterials? >> trying to get it as soon as possible. the minute it hits the dock it is out of stock. next orders come in daily.

as soon as we restock shelves it is going somewhere. interesting trend, not only consumers but businesses as well. we see the average business order is up over 60% in terms of average order value over that same period. folks generally buying break room items from us are going into health and beauty. so we're seeing rises everywhere. stuart: what about nonperishable food? i think you do deal in that? >> in certain zip codes. that is increasing certain demand. stuart: tuna fish. >> tuna fish. tuna fish is self table. all the basics bottomed water, milk, folks are digging in, stocking up for the long hahm. stuart: it is a shame it has to be a benefit to your business because of this dreadful thing the virus, but, you're in precisely the right place to capitalize on it. that's a fact. >> that is absolutely true. what we can do is maintain prices as low as we can for all the consumers as we always have. the same price if you go in buy

it now, you would have paid four months ago. stuart: you will not ration by price? >> i don't think we do such a noble thing as serving in the military or serving in the government. we sell toilet paper and anti-bacterial wipes but at the end of the day we all do something for society. what i told the replenishment team this, is your moment. try to keep it in stock. it is our little way of helping. keep prices low, keep it in stock. stuart: can you give us any indication whether or not the supply chain for your products that you sell will break down or stall so you've got to say, okay, i can give you the tuna fish or give you the hand wipes but not for two weeks? you're not there yet? >> we're not there just yet. what you're seeing, that will come in two phases. one we're starting to see allocations from manufacturers, hey, i know you ordered 40 truckloads of it. we can only get you two. that will see disruption on the shelves. next phase, luckily no one has

seen it so far, at the end of the day, delivery has to happen by humans. someone needs to packet. someone needs to deliver it to you. luckily knock on wood our health force is at same levels, healthy, so we can still fulfill the packages. stuart: can you give me an idea over the past two weeks how much is our overall business gone up? >> hundreds of percents. stuart: hundreds of percent. doubled, tripled, quadrupled business. >> easily over double. like i said on some items up over 50 x on some items. stuart: chieh huang boxed. >> never thought five or six years ago we first met we would be here talking about this but here we are. stuart: thank you very much. appreciate it. wait a minute, what's this? susan? susan: yes. stuart: what is this, fake meat cutting prices. susan: they have big competitors

coming online. nothing to do with the virus this is on competition, back to real business. impossible reducing prices by 15%. they're charging 7.90 to 8.50 a pound for plant-based meat alternatives this is growing market with beyond meat stock price rocketing a few hundred percent last year from its ipo. projected to grow to 25 billion five-year's time. we're sitting five billion. that is five times increase in five years. stuart: that is the projection. i don't believe it. susan: you don't believe it? foot traffic increased when you introduce plant-based alternatives. starbucks, mcdonald's, yum, white castle all doing the same. increase of burger king i think 17%. stuart: put me down as beyond meat skeptic. not quite the same as climate change skeptic. beyond meat exactly $100 per share. overall the rally holds. we're at 5760 points on the

upside. -- 560 points on the upside. nice gain for s&p and nice gain for the nasdaq. show me health stocks. i morning. why? because bernie sanders did not do very well yesterday on super tuesday. that means good-bye "medicare for all." it it bites the dust. health care stocks are rallying on that news. president trump once again hinting at his tax cuts 2.0. watch this. >> i like middle income tax cuts. i think it would be a good time. >> reporter: this year? >> middle income tax cuts. if the democrats would approve it i would go along with it. stuart: middle class tax cuts. bring in kristin tate young americans for liberty analyst. i would love to see the tax cuts i think they're necessary for president trump's re-election. what say you? >> tax cuts would be great but only half of americans even pay federal income taxes at this point.

many americans don't even own stocks or financial assets. as a campaign issue i'm not sure tax cuts will be a big one for trump ahead of november. immigration -- stuart: hold on a second, kristin, that assumes that the tax cuts the president is talking about are cuts in federal income tax rates. there are other taxes which you can cut which would benefit the middle class. >> very true and trump needs to highlight exactly how any tax cuts will benefit all americans. even if it is just an income tax cut, this benefits people who don't pay income taxes as well because we know tax cuts stimulate the economy, they create job growth. they stimulate market growth. unfortunately democrats have been really great at telling people that tax cuts only benefit the rich. so trump needs to explain why that is simply not true. the president has also signaled that he is going to start to rein in federal spending over the next few years. so that would be really great to

pair with tax cuts. stuart: we hear you. i wonder if the president does. kristin, thanks for joining us. see you soon. >> thank you, stuart. stuart: bernie sanders won in california. i suspect he would not have won had it not been for all the early voters. they committed to him before they heard about joe biden's resurgence. larry elder is coming with us. he is the voice of reason from california. he will talk about california and youngsters and voting next. at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate.

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stuart: well bernie sanders did win california but look at that number on your screen. four million people voted before super tuesday. they were early voters. our voice of reason from california, larry elder, is with us. larry, i think that made a huge

difference because those people who voted early didn't get a chance to pass judgment on joe biden's resurgence after south carolina. without those early voters i don't think bernie would have won. >> i think you're absolutely right. a lot voters four in 10 voted early when bernie sanders was rising and were not around for that biden bump. of those who voted, who made their mind up in the last 24, 48 hours, majority of them went to joe biden. i think takeaway for super tuesday, socialism take as beating. stuart: it is a wonderful thing, larry. >> they were staring down the barrel of having a democrat socialist on top of ticket. they didn't like what they saw. old hands, david plouffe, james carville, donna brazile's, barack obama leaned on people like mayor pete and klobuchar get out, support bernie sanders. they're leaning on elizabeth warren to get her to do the same thing. stuart: president trump tweeted a couple minutes ago, i will read it for you. the mayor of los angeles, eric

garcetti is dealing with us to try to get the federal government to fix the terrible problem he and the dems caused with the homeless and devastating effects having on the city which is a mess. i then watch him talk trash on me. what is your response, larry? >> no secret donald trump is disliked in california. donald trump has been attacking california for sanctuary city policies. there is no love lost between the governor of california and the mayor of los angeles when it comes to donald trump. i told you before, stu, probably the only public figure more hated than donald trump in california is charlie manson and he's dead. stuart: seems like from that tweet, seems like garcetti going to work with the feds, you know? that is progress? >> he is trying to get money. in order to get money you have to deal with the guy in the white house but again there is no love lost between the two of them. donald trump has been adamant about california left-wing policies, about the debt that california is in.

about the housing crisis that we have, number of people leaving california for all sorts of reasons. again no love lost between the elected officials here in california, all of whom statewide are democrat and donald trump. stuart: okay. larry, sorry to cut it short. i have an active news day as you know. we will get back to you real fast. that is a promise, larry elder. >> sounds good. stuart: breaking in, president tweeting about bloomberg. here we go. mini-mike bloomberg just quit the race for president. i could have told him long ago he didn't have what it takes. would have saved himself a billion dollars. the real cost. now he will poor money into sleepy joe's campaign hoping to save face. it won't work. we'll talk to brian kilmeade about that. he is on the show next.

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stuart: the rally, it's holding. we're up 500 points for the dow, a strong gain for the s&p and nasdaq. two factors at play here. number one, bernie sanders did not do very well in super tuesday pry playerries. therefore, he is probably not going to beat the president. therefore, the market and investors breathing a sigh of relief. the other point, bloomberg just dropped out.

that is helping the market too. the yield on 10-year treasury is .96%. if you know history of treasurys that is historically a very low level. money pouring into the safety of u.s. treasury securities. 10:51, we bring in brian kilmeade, host of the brian kilmeade show. he is out. what do you say. >> they had had him in polling second. sanders, bloomberg, put whole legislature in there, the democratic legislature in there to overturn all the gun laws. you would think the people of virginia might rally around him. instead he finished single digits. he spent 17 million in north carolina. just 170 million just to do well in the super tuesday states. it is an epic fail. why? because he actually governed as a mayor, kind of like a republican. he was strong on crime.

he was pro-law enforcement. he cracked down on unions but was afraid to talk about that. he basically apologized what he did, but vote for me what i did. you can't do that. stuart: he was no good on tv. i don't care what your policy is, i don't care what you're apologizing for in the past you have to be good on tv you have to be a dynamic character who controls the screen. you want to do well in politics, control the screen, do well on television. he could not do it. >> stuart, i don't think you're wrong but look at his competition. is joe biden good on television? stuart: no. >> that's what i'm saying. if he was competent as a billionaire but instead he just basically said, meet you in super tuesday, i'm not wasting my time in the little states i like it, here's why. people on the outside are looking at our system, thinking, well donald trump became president. they don't realize he never spent of his money doing it. he did free media. took on all-comers. if mike bloomberg was successful, for now on rich people would be running for president or just financing the

right man or woman. to see tom steyer blow up and bloomberg blow up, made me feel better about the country and our process. stuart: agreed. i'm expecting, i'm waiting for elizabeth warren to drop out. i would imagine she is going to do that fairly quickly. it really would be a two-person race? >> it is a fine line because the word is, there is tension between warren camp and the sanders camp. now if they keep pushing elizabeth warren hard to get out, she will just get out and not endorse. they need her to get out around they need her to go to bernie because not only did bloomberg get out, he said go to biden. mayor pete said go to biden. klobuchar said go to biden. beto said go to biden a bunch of 9%s giving their 9% to somebody that needed it all and got it. now they need warren. the question for warren, do you want to spend the rest of your life with bernie sanders? you will never lose the label. you're already not liked in your own state. the epic fail in new hampshire,

got worse in her own state. now if she sides with sanders and "the squad," good luck with that at your christmas party. it will be a lonely, lonely career as you finish out the string in massachusetts. stuart: do you think she might want to be bernie's vice-presidential running mate? >> maybe. but they're the same people, just different genders. you need a moderate accepted by the mainstream if you're bernie. you don't need another left-winger to, somebody a little bit younger and a different, and a woman. that doesn't check enough boxes for bernie. people are sobering up to right now. stuart: i want you to deal with this real fast. democrat in denver catching some heat for a tweet which suggested the spread of the virus, spread it at trump rallies. i think that's awful. what say you? >> number one, if you are a policeman on twitter which probably is lucrative and very

prestigious position, that is something you take down and you act on. you don't act on what you did yesterday is took down a tweet that highlighted the gaffs of joe biden, because you don't need a twitter police for that. you need twitter police for this. because some morons will see that, yeah, i'm running a fever. i feel a little clammy. i failed coronavirus test. i think i will hang out at a rally. it is just mean. we've gone so i don't understand i hope we win. now it is i hope you die. not good. stuart: this person is an obscure person, not some front line politician i thought it was worth mentioning on the grounds this kind of thing is popping up, it is mean, nasty, vicious, nobody is going to like it. brian, out of time. thanks for joining us, sir. >> i was out of goose anyway. stuart. stuart: you're never out of gas, never. kilmeade, thank you, sir. happening shortly, president trump hosts kim kardashian at

the white house. this is all about the criminal justice reform. we got lawrence jones to comment on that very shortly. i say, it wasn't a super tuesday. he only won four states. i say he has been exposed as a hard-line socialist. it is not doing him any good. that is in my take which is next

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stuart: whoa, it's been quite a day, actually quite a couple of weeks. lots of news to go at. i will start with the markets right now. we are off the highs but we still have a strong rally. this follows super tuesday, in which bernie went down and biden went up. investors like that. check the ten-year treasury yield. i think we are below 1%. yeah, .96%. that's real close to an historic low, money pouring into safety and maybe, actually going into stocks as well. interesting. busy day in washington. the president meeting now with kim kardashian on criminal justice reform and vice president pence is going to meet with airline ceos to discuss tracking airline passengers. very important. any headlines from all of this, you will have it real fast. now this. it was a very bad super tuesday for bernie sanders and i think i

know why. he's been exposed as an unrepentant hardline socialist whose policies would destroy our economy. after he showed well in the early primaries, he came under a very intense spotlight. establishment democrats were alarmed. it was all hands on deck to discredit his candidacy and it was easy. bernie had praised communist cuba, fidel had a literacy program, what a guy. bernie didn't mention the war camps where hundreds of thousands of youngsters taken from their families were taught to read communist propaganda, or the thousands of firing squad executions as fidel literally killed his opponents. in my opinion, it is contemp contemptible for a presidential candidate to support any murderous communist regime. then there are his socialist policies. massive tax increases, end private health insurance, the lunatic green new deal, free college, et cetera, et cetera,

et cetera. he's been laughed out of court. even "the washington post," the ultimate trump haters, ran an op-ed saying it's pie in the sky dreaming. what's the cost of socialism, asked economist robert samuelson? $50 trillion was the answer. dream on, bernie. you would crash the economy. if you look at yesterday's super tuesday voting, you will see that bernie is not expanding his base of voters. as he had claimed. african-americans went overwhelmingly to joe biden. suburban women went for biden. the youth vote didn't show up. only one in eight voters yesterday were under 30. he's losing identity groups, not winning them. he's been exposed as a pro-communist economy destroyer. he's going to lose. but on his way out, he will wreak havoc within the democrat party and open the door even wider to a trump win in november. watch this. >> we have come a long, long way. >> i'm here to report we are

very much alive. >> the pundits have gotten it wrong over and over. >> i know you're not used to seeing a new yorker in southern florida in late winter, but unlike the president, i didn't come here to golf. >> by the way, this is my little sister, valerie and -- oh, no, you switched on me. this is my wife, this is my sister. we are going to do this, folks. >> let's go on -- assi stuart: by the way, that last hour, mike bloomberg called it quits, suspending his campaign and getting behind joe biden. happening right now, elizabeth warren is talking to her team to assess her path forward after what was a disastrous night for her. of course, president trump couldn't resist tweeting about bloomberg. here it is. mini mike bloomberg just quit the race for president. i could have told him long ago that he didn't have what it takes and he would have saved himself a billion dollars, the real cost. now he will pour money into sleepy joe's campaign hoping to

save face. it won't work. it is now between joe biden and bernie sanders. sanders taking home only four states versus biden's big haul of nine. his campaign resurfacing from the dead, you might say. taking the lead now with 453 delegates. bernie's got 382. national surrogate for bernie sanders is with us. you and i always have a good time together because you are totally wrong and i'm completely right. the democrats just rejected socialism. i think you know it. >> well, you know, i still don't know what you mean when you say socialism, but if socialism means government takeover of the means of production, we have never been talking about that. stuart: nationalized health care, massive taxation of the rich, green new deal. that's a socialist trojan horse. you know what i'm talking about. he's a socialist. you have been rejected. >> when we talk about nationalized health care we mean people shouldn't go bankrupt because they get sick or die because they are poor.

the profit system works well in almost everything in america but not in health care, where profits are driven by denying care and not giving people coverage. that's how the insurance companies make money. so we are talking about that as a specific item. nobody is talking about taking over every single industry in america so there's no need to scare people. we think people simply should not go bankrupt because they get sick and shouldn't die because they are poor. stuart: okay. can you show me any economist other than the frenchman in berkeley, california who has been advising you, that massive taxation would not bankrupt the economy, cripple the economy? because i think it would. show me an economist who agrees with you. >> well, we know from the times of -- i'm not an economist like you are, but we know from the times of fdr that the policies that bernie are putting forward are very similar to what he was putting forward and his policies were so popular that he got elected four times and they had to change the constitution because of how popular his

policies were. so let's not pretend like this is some new thing that we are proposing. we are proposing a safety net. we are proposing that people that yes, the rich get taxed more, that health care is something that's a human right. we don't think these ideas are so radical. stuart: you know you are beaten and you are toning it down. you are trying to look more moderate. >> we had a good night last night. the thing from california will come back with hundreds of delegates to be apportioned. we believe when this is all done, we are basically going to be neck and neck with biden and there are still 30 states to vote. last night was not everything everyone expected, of course. the pundits were throwing this way out of sync but we do know that last night, bernie did extremely well with latino voters, extremely well with immigrant communities. we know that what we have going on here is this multi-racial, multi-generational thing and next week in michigan, where i live, where bernie won in 2016, he's going to do very well here because we have diverse communities, the largest arab

mooe american and muslim communities that will get out and vote for him. stuart: open invitation for you to come back next week after the michigan primary and all the rest of it and see if you are still in the race. i'm sure you're still in the race but you are going to lose. thanks for joining us. we always appreciate it. love to see that smile. you're good. john lonski, moody's analytics chief economist, with us now. did the democrats just reject socialism? >> well, they did, on super tuesday, without any question. there's no doubt about that. the comeback by joe biden is shocking. i haven't seen a comeback like this, never mind politics, sports, anything else, long period of time. he was written off as finished just a week ago. stuart: i think it was a rejection of socialism. i really do. >> the market today, despite evidence of a further spread of covid-19, the market's sharply higher. that is in part because sanders didn't do that well. stuart: the trump economy, americans trade nearpaid nearly

billion less in federal income tax in the first year after the president's income tax cut. we had the sharpest drop in payments between those earning between $25,000 and $100,000 a year. the president says this. watch this, please. >> i like middle income tax cuts. i think it would be a good time. reporter: this year? >> middle income tax cuts. if the democrats would approve it, i would go along with it. reporter: payroll tax cut? >> payroll tax, yeah. reporter: you want it to happen this year? >> i would do it if they can approve it. stuart: let's speculate. suppose we did get a middle class tax cut before the election. i think it's highly unlikely. what would be the impact? >> it would be a positive impact, without question. it's not going to push interest rates any higher. if they go any higher, the ten-year yield is under 1% despite nearly trillion dollar u.s. federal budget deficits. of course a lot of that is because of the fear of a recession, resulting from covid- covid-19. if the economy starts to tank and the interest rate cuts aren't working we have no choice but to have these middle income

tax cuts. stuart: are you in any position to assess how much the american economy will slow this quarter and next quarter because people are not associating with each other, not traveling so much, there are closures here and there? >> you will see less than 2% growth over the near term but again, a lot depends upon how long this virus remains with us, does it begin to disappear once summer approaches, then you will see much stronger growth in the second half of the year. interest rates will lag behind. that's going to be a positive for household expenditures. we have had this tremendous surge by mortgage refinancing just reported. so that implies household finances are stronger. they will have more money to spend. stuart: bounce back second half of the year. >> that's going to be the case. stuart: hope you're right. thank you very much indeed. now, the next big state that is at stake is florida. hillary vaughn is there, i think in west palm beach. why is florida so important?

reporter: well, they have 219 delegates up for grabs when they vote just a little less than two weeks from today. two tuesdays from now. and that's the biggest state left when you have california and texas that voted last night, florida is the biggest one and that matters because when you have someone like bernie sanders and joe biden who are just 71 delegates apart, everything really could be decided here in florida but also not just the primary. into november, the general, this is the president's home state now so florida is a swing state, it's a battleground state in november, so a strong ground game here in the primary could set them up for success in the general election. stuart: yeah, it is important. good stuff. thank you very much, hillary. the federal reserve cut rates by 50 basis points yesterday. today, canada cut interest rates 50 basis points. bring in danielle dimartino booth, former dallas fed adviser. can the world's central banks and finance ministers rescue the global economy from the virus?

>> well, they certainly can't cure the virus. i think we know that. but they can indeed be -- look to be preemptive in trying to provide cushioning to economies as the virus rolls through one after another after another country and hits their service sector much harder than the manufacturing sector is hit. obviously the service sector is where the vast majority of americans are employed. i think the fed is trying to get out in front of this. the bank of canada followed suit this morning, where we are seeing one central bank after another, we had australia two nights ago, so this is a rolling progression, if you will, stu. stuart: john lonski still has his mic on so i will ask him a question. do you think the world's central banks and finance ministers can bail the world out of the virus? >> well, you know, europe, i think the overnight lending rate for fed funds is 0%. japan is just under 0%. what more could they do in terms of rate cuts? maybe what we have to start looking at are some type of

program that's willing to back up those households, those businesses and maybe state and local governments that suffer because of this particular virus. a lender of last resort. stuart: we haven't seen that yet. >> we haven't seen that yet. stuart: danielle, do you think, does this situation now today and last week, does it remind you of 2008 at all? >> well, in the sense that 2008 felt like a meteor had hit the earth. it was something that many of us had seen coming but just the same, when it happened, boy, did it feel like a shock to the system, and we had markets at all time highs and there was frothiness and there was overindebtedness and all of a sudden this is kind of revealed to be the case overnight. i think that's the parallel that you can draw given how long and extended this financial recovery has been and the tremendous shock that we have seen not just to the stock market, but to

corporate bond markets as well. it's rare that you see corporate bond issuance shut down for seven consecutive days. it was a relief to see the three deals get priced yesterday, meaning the bond market was back in business. stuart: john, real fast. >> this is not 2008. it's not 2009. household sector balance sheets are much stronger. we don't have the same weakness we had in corporate credit back in 2008-2009. by the way, corporate bond issuance just came through in january and february. its strongest start despite covid-19 on record. so you take a break for a few days. big deal. moreover, corporate bond yield spreads, the junk bond spread, is well under where it was in 2008. stuart: there's a difference. john, danielle, both of you, thank you very much indeed for being with us on a very important day. good stuff. thank you. moments ago, kim kardashian arrived at the white house. she's meeting with president trump discussing prison reform.

you never really know what you will see on "varney & company" or at the white house, for that matter. any headlines, you will get them real fast. that's her arriving. now that mike bloomberg is out, i say the race is going to come down to biden and bernie. the trump campaign is next on that. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.

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and we are going to defeat the most dangerous president in the history of this country. stuart: all right. that is bernie and biden. bloomberg, by the way, just dropped out. elizabeth warren is going to assess her path forward. she's meeting with her team right now. looks like it's down to the two democrats, bernie and biden. tim murtaugh joins me now. blombe bloomberg is out. if he puts his money behind biden, and he might, is that going to worry you? >> he might do that. but it's not the same as a candidate actually having that money inside his own camp. he would obviously be operating as his own sort of super pac which doesn't have the same impact. look, the trump campaign because of the president's success and unprecedented fund-raising, we are going to have all the resources we could possibly need and then some so this campaign was never going to come down to

money. it's going to come down to the president's record against a democrat, big government socialist style democrat, who is going to be trying to upend all the good that the president has done. that's what this is going to come down to. not who mike bloomberg is going to be backing with his checkbook. we have seen how ineffective that is. stuart: we should all be cautious about saying oh, bernie can't win, biden can't win, because you go back to 2016, and everybody was saying oh, trump can't win, laughed out of court. he won. is it remotely possible that the same thing could happen this time around? >> this is not the same kind of scenario. in 2016, you had an open seat for the white house. now we've got president trump who has a record to run on. you guys talk about it and cover it every single day. this is the best economy anyone's seen in the last 50 years. the president has restored american might and it means something to be the united states of america around on the world stage again. the president has a clear record to run on and his democratic

opponent and we don't know who that's going to be, despite what happened last night, we don't know who's going to win, the democrat opponent will be running to upend all this success. it will be a clear contrast between someone who's got a clear record and someone who wants to wipe it all away. stuart: but the virus is going to be a factor in the election, and president trump's handling of it will be a key fact in this election. you comfortable with all of this? you have no choice, but it is an undecided, an unknown in the election, isn't it? >> i think we are seeing the american people want to see their president be a leader in situations like this, like the coronavirus, and that's exactly what president trump is doing. he appointed a task force more than a month ago before the virus even had a name, in fact, so he's been on top of the case and you know the media and the democrats have been looking for something to use as a weapon against the president. first it was russia, then it was ukraine, now they are on about almost 90% of the coverage of

the president regarding the coronavirus is negative. so it's obvious that people think that that is a political weapon they can use against the president but the fact is, he's addressing it appropriately, calmly and professionally as a president should. stuart: you going to keep going with the big rallies, running the risk of a virus carrier being at the rally and having a big problem for all the rally goer snss? >> the president addressed that himself yesterday. he said he feels it's safe. there's lots of candidates have rallies, he has rallies. there are large gatherings in this country. he feels right now it's perfect safe. stuart: thanks for joining us. we appreciate you being here. thank you. late deciders turned out to be really pivotal for joe biden in super tuesday. tell me about that. lauren: not about money. it's about momentum. this is fox news voter analysis. it shows if you look at the late voters, they decided to go for biden in a big way. check out minnesota. 55% of late deciders went for

joe biden. amy klobuchar endorsed him. she is the senator from that state. at the last minute, essentially. if you look at texas, 39% of the late deciders went for biden instead of o'rourke, the former congressman from texas also endorsed biden, which is amazing culmination of fortuitous events that certainly gave biden momentum last night. stuart: it certainly did. what about young voters? bernie was dependent upon them. i don't think they voted in any numbers, did they? lauren: very low turnout. here's the deal. he got the youth, 60% in california, colorado and in the state of texas, but fewer young voters turned out, if you compare super tuesday this year to back in 2016. here's the thing. you know the young voters are likely going to go for bernie sanders and the old people who are more reliable when it comes to actually voting, by the way, are likely going to go for biden but it's that middle group, 40 to 65 years old, that's important for both of these candidates. stuart: very much so.

correct. now let's get some information on the 14 states which went and had primaries yesterday. i want to know which of these -- which of these states is the biggest in terms of their economy, and which has the most debt? ashley: it's the same state. california. no big surprise there. as for debt, california comes in at number one, $560 billion. interestingly, texas, second at $327 billion followed by massachusetts, colorado, virginia, but as for the biggest economy, again, california. in fact, it's an economy that's bigger than most countries. as we know, it's absolutely enormous. $3.32 trillion followed again by texas, north carolina, texas and virginia. stuart: bernie won it but i don't think he would have won it had it not been for the four million -- ashley: early voters, yes. all the late developments. stuart: last one? lauren: i would make the argument mike bloomberg helped

joe biden because he threw all of his money and attack ads against sanders. in a sense, he was like a super pac for biden. even though he was running against him. stuart: joe had a great night. we will go to retail. there's a demand side of the equation on this virus, meaning people who stop going out, they stop mingling with each other, that could hurt the retailers. it cuts down on demand for products. the former top guy at apple and jc penney, ron johnson, on that demand side of the equation, next. bernie sanders, many young voters sat out on tuesday. lawrence jones has been to several sanders rallies. i will get his take on the youngsters who did not vote, next. ♪ we made usaa insurance for members like martin.

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stuart: straight to president trump. i believe he's talking now at the airline meeting. go. >> but it's affecting the airline business as it would, and a lot of people are staying

in our country and they're shopping and using our hotels in this country. from that standpoint, i think probably there's a positive impact but there's also an impact on overseas travel which will be fairly substantial. mike, maybe i will let you give a little briefing as to what we just discussed. >> thank you, mr. president. and grateful to have the opportunity to meet with the leaders of our airline industry today. mr. president, you said from early on that we were going to have a whole of government approach but the truth is, as evidenced by all these great industry leaders, it's really a whole of america approach and the american people deserve to know that according to all of our experts, the risk to the average american of contracting the crone acoronavirus remains that's largely owing the your decision, mr. president, to suspend all travel from china into the united states and quarantine all americans that

are returning. it's also owing to the tremendous cooperation of this industry, the airline industry, because in addition to suspending travel from china, you recently made the decision to designate as do not travel certain areas of italy, certain areas of south korea, but we also at your direction worked with this industry so that now as of yesterday morning, all passengers on all direct flights from all airports in italy or south korea are being screened on multiple times before they board any of these airlines. we are grateful for that, mr. president. i know you are and everyone here should know that we are going to continue to follow the facts and the data. dr. birx is working closely with all our health officials to determine what additional screening might be required in the united states or in partners around the world. our airlines are going to play a key role, mr. president, in

preventing the spread of this disease and even earlier today, at your direction, we met with leaders of our nursing home industry to talk about the measur measures, increased measures to prevent the spread of infectious disease. we sent new guidance out to nursing homes. we will be announcing later today new priority of inspections for infectious diseases. we will be detailing that. we explained it to the industry today. and also on the issue of testing, mr. president, you have made that a priority. we will have over a million tests in the field today. i spoke to several governors this morning that were grateful for the fact that the changes you made this weekend through the fda now make it possible for state health clinics as well as universities around the country to be able to conduct coronavirus tests, but we'll also be meeting this afternoon with leaders of our commercial laboratories to make coronavirus tests more rapidly, more widely

available for doctors' offices and medical clinics and consumers around the country. so mr. president, as you said, it is a whole of government approach but in a very real sense, a whole of america approach and i've already expressed and i know you feel a great deal of gratitude to our partners in the industry and in the airline industry for acting on your priority to put the safety and health of the american people first. >> good, mike. thank you very much. i just want to add, to go a little bit further, the obama administration made a decision on testing that turned out to be very detrimental to what we're doing and we undid that decision a few days ago so that the testing can take place in a much more accurate and rapid fashion. that was a decision we disagreed with. i don't think we would have made it but for some reason it was made. but we have undone that decision. also, when people come in from

certain areas where doing checks not only at the site of takeoff but at the site of landing, so when they land in our country, we will also do -- that's planes from certain destinations. i might ask doctor, if you could, i would like you to say a few words. you have been doing a fantastic job in just the short time, we haven't had much time but you have been doing a really fantastic job. please. >> thank you. before you came in, mr. president, we talked about which americans are most vulnerable and the fact that younger americans may not be as vulnerable so we are really focused very much in that way and i think the airline industry can help us with any kind of screening required, particularly to protect our older americans. >> good. thank you. thank you. doug, do you have anything to say? >> thank you for having us. thanks for the work we're doing jointly to keep people safe. stuart: the president with the vice president laying out the

testing procedure, the checking procedure for flights into our country all across the board. good stuff. the president is meeting with airline executives as we speak. as for the markets, nice rally going on and it's been holding all morning. way down yesterday, up, what, 600 points on the dow as of today and right now. nordstrom, they missed their sales target in the fourth quarter, reshuffled their executive suite. they are expecting 2020 to be a down year. the stock is down 4%. big loss for nordstrom. urban outfitters missed their profit target despite sales hitting a record. the stock is down nearly 10%. retailers taking the hit there. coronavirus has made a big impact on retailers, disrupting supply chains, on occasion, maybe keeping people out of the stores. ron johnson is with us, the former jc penney ceo and the man who built apple's retail operation. am i right in saying that? >> you are right in saying that. how are you, stuart?

stuart: very well. i just want to give you credit for an extraordinary job you did with apple. is there any way you can assess with hard numbers what this demand side thing is going to do to retailers? because we're not shopping like we used to, we're not going out and about. what's the impact? >> yeah. i think it's big. the virus is not going to impact the supply side as much. apple's primary supplier of phones said they will be back to normal seasonal capacity during the month of march. so the supply side will work it through but the demand side is a really big one. as we just heard with the president's announcement on travel, the planes are pretty empty. i was at the airport yesterday. the planes are really empty. when people don't travel they don't buy, you know, things to take on trips. new york is heavily dependent on international travel for shopping. so i think there is a demand side that's pretty significant. everyone talks about the virus -- stuart: can you quantify it? i don't think it's huge yet.

this lack of travel. that may be hit. but people going out to the street, to the mall, i'm not quite sure it's hit yet. >> i don't think we know yet. it's a pretty immediate thing. everyone is changing behavior. we are all washing our hands more frequently. we are all paying attention to school announcements, is my school going to be open, what are we doing. colleges like stanford are canceling all public gatherings even in advance of any big issue. so the moment you have uncertainty, consumers tend to hold back. i've got to believe the fed's announcement yesterday which was much bigger than i think most anticipated, was different by some underlying facts that there's changes happening in the economy. i think there's a short term demand side here we will discover in weeks ahead. stuart: short term demand side problem, does that mean, okay, short term and we bounce back? >> short term. stuart: on the other side of it,

we really have a nice bounce in sales when we are through this thing? >> i think we will have a nice bounce. the economy's in great shape. we saw huge addition to jobs, much higher than anticipated. the stock market is volatile but it's near all-time highs. i think people are feeling good. mortgage rates are dropping. there's a lot of good things. it's just that uncertainty of the virus which will have a short term impact because in today's media environment, everything gets amplified. and it impacts people and how they behave. stuart: it's all my fault. i know it. i'm sorry about it. it's all my fault. sorry to cut this short but jam-packed news day. thank you very much for being with us. thank you, sir. much obliged. >> see you soon. thank you. stuart: yes, you will, promise. thank you very much. young voters, they sat out super tuesday in large numbers. they just didn't turn out to vote. lawrence jones is with us, fox news contributor. now, you have been to a lot of these bernie rallies. >> yeah. stuart: you have seen these youngsters. they are crowded with

youngsters. only one in eight of voters yesterday was under 30. youngsters didn't vote. didn't turn out. >> they didn't turn out but when they did turn out, they turned out for bernien sanders. that's the argument a lot of pundits are making when you look at the numbers. lauren went through the 60% in texas and california that showed up. they are not rejecting the socialism message but they aren't getting out to vote. i think there's an argument to be made, do young people really believe that bernie is able to accomplish a lot of these things. another thing that i think is important because all of this runs together, is that black voters rejected bernie sanders' message as well. this is a guy that pretty much depended on minority support, a lot of latino voters showed up for him, and young voters showed up for him. but black voters decided they weren't going to believe in socialism. stuart: why? why? >> black folks traditionally, i always said they weren't going to show up for bernie because black folks are traditionally

conservative. they don't support the republican party but they like moderates. what you see from bernie sanders is this free, free, free, free, that's not going -- that's not what's taught in the household of black voters. it's just the fact of the matter. i understand the recruitment effort but black voters aren't going to buy that. stuart: president trump is meeting kim kardashian right now, white house criminal justice reform. why do you say it's big? outreach to minorities, really, isn't it? >> it's outreach to minorities and the message when it comes to criminal justice reform, kim k has been very effective. it's not just her. people see her, she's the face of it, but there's an entire legal team that vets this stuff as well and this is the president's signature accomplishment. when you talk about black voters, the economy and this criminal justice reform that's going to be able to steal some of the voters from the democrats. if the white house is serious about this, and really pushes this message, you can see a big game changer. it's up to them on the ground.

stuart: tim scott thinks mr. trump will get maybe 12% of the black vote as opposed to 8% in 2016. >> i do think it's possible. it's not enough for me because i want to see 40% of us voting for the president but that's going to take a real pitch to black voters. it's going to be a lot of knocking on doors. if the president is willing to do that with his accomplishments, i think he can. stuart: get out there and crusade. >> he has to. stuart: if i can i don't thuse . thank you very much for joining us. bernie sanders won in utah. is the state dancing with the socialists? utah? can't believe it. utah's governor joins me next. i will ask him. ♪ i have an idea for a trade.

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this is the reimagined 2020 ford escape. stuart: the rally holds. we are up 479 points right now. we have been up 600 but who

cares. we're up nearly 500 as we speak. better check the health care companies. they are rallying because bernie sanders had a real bad day yesterday. there goes, what was it, medicare for all. okay. there it goes. president trump's talking. listen, please. >> a lot of people are doing a lot of domestic business now, i can tell you. they're staying in this country. they feel safe. if you look at a percentage, we have a very very small percentage and a big percentage of what we have is when we brought in the 40 or so people from the ship. we brought them in, we immediately quarantined them but you're adding that to the numbers that we had which were very small. now what we're going to do is as people get better, because we have most of these people are getting better, some are already released, some are going home, some are, you know, getting a full 100% report, we will take them off the list. but we have a very small number of people in this country. we have a big country.

the biggest impact we had was when we took the 40 plus people, they're americans, i mean, i could say don't let them into the country but these are americans and they were literally stranded. it was very unfair. we brought them back, we immediately quarantined them. but you add that to the numbers. but if you don't add that to the numbers, we are talking about very small numbers in the united states. we have all done a very good job, all of us and i think the news has been for the most part, the media has really treated us very fairly which i appreciate. i think it's very important. reporter: is there anything that they should be doing differently since you think it is safe to fly, get on an airplane? [ speaking simultaneously ] reporter: -- executives around the table, if you are a passenger, you get on that flight, we have been told wash your hands? >> dr. birx, maybe you can say something. >> we are always saying the common sense of washing your hands, not touching your face, ensuring that if you touched anything, you go and wash your hands again.

20 seconds with soap, hand sanitizers also work but i think i was very reassured to hear the airlines talk about their cleaning procedures and their three levels of cleaning procedures because i think that will be reassuring to the american public. >> i haven't touched my face in weeks. weeks. i miss it. reporter: would you do anything to address some of the concerns of maybe travelers who booked their flights and they might be coming up on a trip and they might need to make other arrangements? >> what would you say about that? >> we just issued, we put out a statement recently, giving the customer the flexibility to book their travel in advance, if they find they want to change that later, change fees are waived. i think all of us are working to figure out ways to make sure there's flexibility. >> oscar, how would you handle that? you have a lot of people they booked, now -- >> this is a time unprecedented in our history that we need to be absolutely understanding of

people's travel plans and like most of the airlines, we are taking appropriate measures to make sure our customers get the best treatment. >> i think we are very impressed with what the airlines do. reporter: mr. president, you mentioned obama era rule, you have changed regarding this virus. i didn't follow that. >> well, let's talk about it. >> the last administration asserted fda jurisdiction over testing, and the development of tests like this. the president changed that on saturday so that now, as i spoke to several governors this morning, states now have the ability to actually conduct the coronavirus test in state labs, university laboratories, and that's because of the change the president authorized. bob, you just might very quickly, on the changing jurisdiction of that, that's freed up more available testing. >> thank you, mr. vice president. so in the past, we used to be able to have laboratories that

could develop what we call laboratory developed tests and be able to apply them for clinical purposes. in the previous administration, that became regulated. so that now, for someone to do that, they had to formally file with the fda and what the president's decision did was allow that regulatory relief now, that those university labs and those other labs in this country now can be fully engaged in developing laboratory diagnostics, for the clinical arena so the men and women of this nation can get access and the doctors to get to know the extent for the patients they're caring for. 's the very very important. it changed the availability of testing overnight. >> it was a very big move and it was something that we had to do and we did it very quickly and now we have tremendous flexibility, many, many more sites, many, many more people, and you couldn't have had that under the obama rule and we ended that rule very quickly.

yes. reporter: mr. president, on the contact tracing, can you explain what you're hoping to get from these folks? what more information do they need to track or share with the government? >> what we are asking for is additional pieces of information so that the cdc, hhs and others can track individuals as they come into the country and as they continue on to their final destination, and if we need to from a health perspective to continue to reach out, continue to track them, and to get in touch with them, looking for a few more pieces of information and data from them. [ inaudible question ] >> i think we will continue to have conversations but yes. >> can i follow up on that question? the north carolina case was someone who was at the nursing home in washington state. does the administration now have the contact information who were with that person on the flight to north carolina? >> that public health evaluation is ongoing right now. we are working with the airlines

and obviously with the north carolina health department, cdc supports the local public health department to really work together to get all that information. it's in progress. reporter: but at this point, you do not have the passenger information for people on that flight? >> my understanding is we have the manifest. now the trick is to go find them. that's why we're having this discussion. >> much of that has been done already. >> thanks, guys. let's go. >> thank you very much, everybody. >> no questions on the election. >> thanks, guys. let's go. let's go. come on, guys. let's go. >> i think the election was great last night. it was great. the results were -- it was a great comeback for joe biden. incredible comeback when you think about it. but if you would have looked, if elizabeth warren would have done what she probably should have done from their point of view, he would have won, right? he would have won a lot of

states including massachusetts, probably texas, definitely minnesota. so bernie would have won states that he lost and lost fairly easily but in particular, massachusetts, i would say minnesota in particular. i would also say texas. and some others. so had she, i put something out on it this morning, she was really a spoiler, because other people got out and those votes, they went to joe and those people really helped joe, you know, by getting out early. a couple got out with endorsement. in the case of elizabeth warren, had she gotten out, it would have been a very different situation, i think. it would have been a very different night on one simple move. had she left to pick up massachusetts, minnesota and probably texas, and those are the three i checked. i would imagine there are others he would have picked up, too. so elizabeth warren was the

single biggest factor in that election last night and it would have been a very different thing and not in a positive way for her. in a very selfish way for her. she was very selfish from that point of view. now, do i care, no, because we're just waiting to find out who we're running against. but when you look at it pretty incredible. if she would have gotten out and endorsed, even if she didn't -- she didn't even have to endorse. i think there's a lot of bad blood there but had she gotten out and endorsed, he would have been a lot better off. [ inaudible question ] >> well, now i think it's a very tough -- i think it's tough. i think joe has an easier path right now, believe it or not. i see mini mike just got out. he's going to, you know, try and save face by putting some money into biden's campaign and we'll see what happens. i don't think that's going to have an impact. you got to look, money has to be spent wisely. one thing this whole thing has

shown, you can't buy an election. it's a beautiful thing. steyer put in 250, $300 million and now who knows where he is. he's home probably licking his wounds. bloomberg put in probably a billion dollars and you know, sometimes you just don't have what it takes. i said to him it's not easy doing what i did, is it. so it's one of those things. but it's going to be very interesting. to think this would have changed so much because if you go before saturday, before south carolina, i mean, he had -- joe had absolutely no chance, according to you people. but they used to say that about me, too. not as much, though. i think i always felt i had a very good chance but i watch, they would say well, can't happen but it happened and it happened pretty easily. i think now, i think joe actually would have the advantage now. you know, if you look at the states he's going to with florida and others, i think he's got an advantage in those

states. but again, had elizabeth warren endorsed bernie, you're talking about a whole different subject. that's not even a question. you're talking about -- because he would have gotten 80, 90, i mean, we have gotte would have most of those votes. reporter: what do you think about the stock market's reaction today? seems there's a sigh of relief. >> i have said from the beginning it's partially this. it's a big part of this but it's also the fact that they didn't like seeing what they're seeing. but they don't like joe either. joe has become, you know, a lot of people are with joe, if you look at those people they're worse than bernie. in terms of being radical left. some of joe's handlers, that's what they are, handlers, i want to be nice but they are handlers, some of joe's handlers are further left than bernie. that's pretty scary. reporter: do you think bloomberg's money will be more powerful without bloomberg

himself in the race? >> it couldn't be less powerful because look what a billion dollars did. he won nothing. he got so few delegates, it's incredible. i would say probably -- now he's spiteful, he's a spiteful guy, noi him well, he's a very spiteful guy, he's very upset. he made a fool out of himself, to be honest with you. he's not too happy about that. i think the first thing he should do is fire his political consultants because i know him, i could have told him very easily you can't win. you can put two billion in, you can't win. okay. thank you, everybody. stuart: the president's handlers, if i can call them that, want that press conference, it's not a press conference, they want that meeting to come to an end before the president answers yet another question. it's very hard for him not to answer questions, especially when it's just coming out of super tuesday.

he loves this stuff. he's very effective. okay. let's change subjects here and bring in matthew taylor, director of the creepy line. that's a documentary that looks at how big tech influenced the 2016 election. matthew, obvious question, did big tech, notably google, did they have any impact on yesterday's super tuesday, and if so, what was it? >> look, we have be talking about how google may be manipulating elections and shifting votes through search results. if i was the elizabeth warren campaign, i would be very curious because she has been the only one vocal about breaking them up, going after them. facebook has said they would mount a campaign against her if she became the nominee. so yeah, i actually think that it's not just against republicans. it's against anyone who is against their interests. stuart: have you got evidence that they sort of intervened in some . >> we have evidence from 2016 how they pushed hillary up and pushed trump down. i think that the thing is, if you track them, i think you

would probably see evidence that there is, you know, different search results maybe lean towards a candidate would be more favorable towards them as president. stuart: do they really worry about being broken up? i mean you know, do they really? or do they worry about being taxed heavily more to the point? >> i don't think taxation is the issue with them. they have tons of money. they have been fined tens of billions of dollars by the eu they are concerned about certain regulatory response that would be damaging. stuart: do you see the googles and facebooks of this world as essentially evil? >> evil is a hard word. facebook is more traditional corporation that wants to make money. google sees things as right and wrong which is difficult when you have a company that peddles information. if i'm looking for information, if they think information is

wrong, they may weight the scale so i don't see that information that could be argued to be evil. stuart: is it true google knows absolutely everything about every individual in the united states, you and i included? is that true? >> i would say google knows more about us than we know about us. stuart: how do you say that? how do you mean? >> look, because, every search you do tell google things you wouldn't tell your wife, best friend. you search for things. they collect the information. add it to your profile. stuart: that is how they do it. look at search? >> you can look up your own search history f if they link it with people that have advertising and ads track you, follow you. that is how the business model works. it is surveillance capitalism.

stuart:it means over the next two years they will be cone so dating power to advertise to more than anybody, consolidating media buy in everything. stuart: interesting prospect. >> it is. stuart: matthew taylor, thanks for being with us. >> thank you for having me. stuart: we squeezed you in. thank you, sir. check the market, we're holding on to a gain of 500 points for the dow jones industrial average. the nasdaq is up 119. the s&p is up 48. we've seen all kinds of sectors moving up today. cruise lines actually gained some ground. some airlines were up. health care stocks zoomed. that is because bernie sanders had a very bad day. good-bye to "medicare for all" which -- ashley: bernie relief rally. stuart: that's good. i think part of what we're seeing now this, rally, is political because bernie did so badly, he scares the devil out of investors. now it is biden's to lose by the

looks of it. bloomberg is out, giving his money to joe biden. that is extraordinary stuff. ashley: yes. stuart: we cover i had all. we got it all in. like a horse race. neil, it is yours. neil: what is weird about that thinking, joe biden could be much more competitive against the president, right? if you, regardless what you think of the president, like the markets, economy, all of a sudden threat of a real challenge looks more likely -- stuart: hold on a second. i honestly think that how you perform on television is extremely important in modern politics. neil: absolutely. stuart: joe biden does not perform well but donald trump is brilliant. neil: we'll see. i never let that get in my way. you never know. it is weird. you can argue -- stuart: i see your point. neil: interesting stuff. great show as always, stuart. we are following fallout from